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146	146	== Technical Textiles Business ==
147	147
148		-FY 2020- ‘21 began on a difficult note with the entire country under strict lockdown restrictions to control the surge of COVID-19. This resulted in the shutdown of all TTB manufacturing plants. However, as the unlock process started, all plants re-started operations, with strict safety protocols while maintaining product quality. By the end of H1 – 2020 – ‘21, all TTB segments witnessed a strong revival. Increased Government spending in infra sectors, focus on personal mobility, import restrictions on Chinese tyres and container shortage resulting in higher sea freight triggered an increase in domestic demand.{{footnote}}https://srf.com/SRFAR/2020-21/pdf/SRF-Limited-Annual-Report-2020-21.pdf{{/footnote}}
	148	+FY 2020- ‘21 began on a difficult note with the entire country under strict lockdown restrictions to control the surge of COVID-19. This resulted in the shutdown of all TTB manufacturing plants. However, as the unlock process started, all plants re-started operations, with strict safety protocols while maintaining product quality. By the end of H1 – 2020 – ‘21, all TTB segments witnessed a strong revival. Increased Government spending in infra sectors, focus on personal mobility, import restrictions on Chinese tyres and container shortage resulting in higher sea freight triggered an increase in domestic demand.{{footnote}}https://www.supreme.co.in/aboutus.php{{/footnote}}
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	150	+[[https:~~/~~/srf.com/SRFAR/2020-21/pdf/SRF-Limited-Annual-Report-2020-21.pdf>>url:https://srf.com/SRFAR/2020-21/pdf/SRF-Limited-Annual-Report-2020-21.pdf]]
150	150
151		-**Tyre Cord Fabrics**
	152	+Tyre Cord Fabrics
152	152
153	153	Nylon Tyre Cord Fabric segment registered strong demand from both Original Equipment (OE) and replacement sectors during H2 – 2020 – ‘21. Restriction in tyre imports from China led to an increase in domestic tyre production across all segments resulting in an overall growth in demand for Tyre Cord Fabrics (TCF). TCF segment also executed yarn capacity expansion and debottlenecking projects in FY 2020- ‘21.
154	154
	156	+Belting Fabrics
155	155
156		-**Belting Fabrics**
157		-
158	158	Belting Fabrics segment is a key supplier to end-user industries, namely, steel, cement, coal, and power generation. In FY 2020- ’21, all these industries witnessed a de-growth, thereby resulting in pressure on margins. However, with an increased focus on Value-Added Products (VAPs) and an integrated value chain, the Business was able to increase the overall market share and sales volume to domestic as well as export markets.
159	159
160	160	With the ongoing expansion projects and a strong portfolio of VAPs, SRF will further consolidate its position in both the domestic as well as the global market in FY 2021- ‘22.
161	161
	162	+Polyester Industrial Yarn
162	162
163		-**Polyester Industrial Yarn**
164		-
165	165	Polyester Yarn segment witnessed a strong revival in H2 FY 2020 – ’21 due to increased demand from the auto segment and stronger push in infra sectors. The continued focus on increasing sales of VAPs helped keep the margins healthy, despite the Chinese continuing to dump yarn into India at very low prices.
166	166
167	167	The healthy margins trend is expected to continue in FY 2021- ‘22 as well
168	168
	168	+Chemicals Business
169	169
170		-== Chemicals Business ==
171		-
172	172	The Chemicals Business comprises two different product segments, namely Fluorochemicals and Specialty Chemicals.
173	173
	172	+Fluorochemicals
174	174
175		-**Fluorochemicals**
176		-
177	177	Refrigerants & Propellants and Industrial Chemicals FY 2020- ‘21 was a tough year for the refrigerants market globally. Auto and air-conditioner market declined initially, which resulted in a significant drop in refrigerant market demand along with selling prices. It was only in the latter part of the year that some revival in demand was witnessed, although the international prices remained subdued throughout the year. However, Industrial Chemicals market performed well due to the growth in pharma and agrochemicals segment. The Industrial Chemicals Business was able to maintain its market share and launched a new product- Methyl Chloride in its CMS portfolio.
178	178
179	179	Both Chemicals sites witnessed stable and safe operations during COVID-19 and nearly all the plants operated at full capacity during the second half of the year. The company successfully launched its first ASHRAE product F 467A in the international market. In addition, the company received the European Pharmacopoeia certificate for its Dymel® product segment, along with the addition of new customers and geographies in this space. The company continue to improve its process capability and were able to develop innovative processes in existing operations and filed new patents during the year.
180	180
	178	+Specialty Chemicals Business
181	181
182		-== Specialty Chemicals Business ==
183		-
184	184	The Specialty Chemicals Business maintained its growth momentum during the year. COVID-19 related interruptions affected the Business mostly in the first quarter of the FY. The Business received support from the market despite the global pandemic. The company focused on the customers’ key products and their developmental project requirements, while at the same time ensuring that the production capacities were optimally utilized during the year.
185	185
186	186	During the year, the Business launched several new agrochemical and pharma intermediates and remained steadfast on its ‘Innovation and Technology Leadership’ journey. The production capacity of several products was enhanced significantly at both the sites. Three new dedicated plants were also commissioned during FY 2020 – ‘21. The Business made continual investment towards cleaner and leaner operations, in line with further strengthening its sustainability initiatives. All these measures have further enhanced the positioning of the Business in its ability to deliver complex specialty products and related intermediates.
187	187
	184	+Chemicals Technology Group Bu
188	188
189		-== Chemicals Technology Group ==
190		-
191	191	The Chemicals Technology Group (CTG) has been continually augmenting its capabilities and helping in driving the technology curve for the Fluorochemicals and Specialty Chemicals Businesses.
192	192
193	193	CTG has been developing a variety of new technologies and platforms to bolster SRF into next level of technology play. CTG is actively supporting both the Specialty Chemicals and the Fluorochemical Businesses gain prominence in their respective Business areas.
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196	196
197	197	In FY 2020- ‘21, CTG filed thirty-six patents taking the total count to three hundred and nine patents filed so far. Twenty-three patents were granted in FY 2020- ‘21 taking the total count of patents granted to the company to ninety-three.
198	198
	194	+Packaging Films Business
199	199
200		-== Packaging Films Business ==
201		-
202	202	FY 2020- ’21 has been a good year for the Packaging Films Business (PFB). This Business is a part of the essential goods value chain and hence was able to operate its plants during the nationwide lockdown. Increased demand for food packaging accompanied by the hard work and passion of the team contributed towards the larger goal of ‘Easy To Do Business With (ETDBW)’ and helped the Business achieve its best-ever performance.
203	203
204	204	All plants maximized their production, keeping costs under control and creating their own benchmarks. The company could achieve an output of almost 2,50,000 MT during the year while sustaining the best-in-industry cost structures. In its journey of adding more VAPs in its portfolio, the Business launched fourteen new products and the overall VAP sales grew by more than 20% over previous year. The company's team worked relentlessly to start the new BOPET film plant at Thailand, making it the first-ever remote commissioning of a film line anywhere in the world. Subsequently, the team also commissioned and operationalized the new BOPET film line in Hungary and a resin plant in Thailand amidst severe travel restrictions, limiting availability of supplier personnel and field experts on-site. While utilizing its assets to the maximum, the company continuously strive to maintain a safe and healthy environment at its plants. In FY21, the company received 5 Star rating for Occupational Health and Safety (OHS) from the British Safety Council for its facility in South Africa. The company's expansion of BOPP film line at both Thailand and India are also progressing well and timely vertical startup of both the lines will be one of its most important agenda items.
205	205
	200	+Coated and Laminated Fabrics Business
206	206
207		-== Coated and Laminated Fabrics Business ==
208		-
209	209	Under the Other Businesses segment, both Coated and Laminated Fabrics performed well in FY 2020- ’21. Despite adverse market situation, Coated Fabrics Business recorded its best-ever performance and Laminated Fabrics Business has also been able to achieve the targeted profitability. Both the Businesses were impacted during the first quarter due to the situation arising from the COVID-19 pandemic.
210	210
211	211
212		-= Financial Highlights =
	205	+Financial Highlights
213	213
214	214	Total revenue from operations of the Company on standalone basis increased by 10.38 per cent from Rs 6330.84 Crores in 2019-20 to Rs 6988.32 Crores in 2020-21. The profit before interest, depreciation and tax (PBIDT) including ‘other income’ on a standalone basis increased from Rs 1315.80 Crores in 2019-20 to Rs 1804.78 Crores in 2020-21.
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222	222	During the year the Company allotted 1764705 equity shares through Qualified Institutional Placement (QIP) at an issue price of Rs 4250 per equity share (including a premium of Rs 4240 per equity share) aggregating to Rs 750 crore on October 17, 2020. Pursuant to the said allotment the paid up equity capital of the Company increased from Rs 574805000 divided into 57480500 shares of Rs 10 each to Rs 592452050 divided into 59245205 shares of Rs 10 each. Details of utilization of QIP proceeds are given in Corporate Governance Report which forms part of the Board’s Report.
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224	224
225		-== SRF Limited Q1FY22 Financial Results ==
	218	+SRF Limited Announces Q1FY22 Financial Results
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227		-Jul 28, 2021; Gurugram, July 28, 2021: SRF Limited, a chemical based multi-business entity engaged in the manufacturing of industrial and specialty intermediates today announced its consolidated financial results for the first quarter ended June 30, 2021. The company’s unaudited results were approved by the Board of Directors in a meeting held today via video conferencing.{{footnote}}https://www.srf.com/srf-limited-announces-q1fy22-financial-results/{{/footnote}}
	220	+Jul 28, 2021; Gurugram, July 28, 2021: SRF Limited, a chemical based multi-business entity engaged in the manufacturing of industrial and specialty intermediates today announced its consolidated financial results for the first quarter ended June 30, 2021. The company’s unaudited results were approved by the Board of Directors in a meeting held today via video conferencing.
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	222	+[[https:~~/~~/www.srf.com/srf-limited-announces-q1fy22-financial-results/>>url:https://www.srf.com/srf-limited-announces-q1fy22-financial-results/]]
229	229
230		-**Consolidated Q1FY22 Financials**
231	231
	225	+Consolidated Q1FY22 Financials
	226	+
232	232	The consolidated revenue of the company grew 75% from ₹1,545 crore to ₹2,699 crore in Q1FY22 when compared with Corresponding Period Last Year (CPLY). The company’s Earnings before Interest and Tax (EBIT) increased 102% from ₹295 crore to ₹595 crore in Q1FY22 when compared with CPLY. The company’s Profit after Tax (PAT) increased 123% from ₹177 crore to ₹395 crore in Q1FY22 when compared with CPLY.
233	233
234	234	Commenting on the results, Managing Director, Ashish Bharat Ram said, “It has been an excellent quarter for the company despite the short-term challenges emanating from the lockdowns. The company worked on various countermeasures to ensure that the company performed well. Going forward, I remain cautiously optimistic of its performance. The re-emergence of COVID-19 in some of its key markets along with significant increase in global freight rates remain a risk for it.”
235	235
	231	+Consolidated Q1FY22 Segment Results
236	236
237		-**Consolidated Q1FY22 Segment Results**
238		-
239	239	The Chemicals Business reported an increase of 58% in its segment revenue from ₹705 crore to ₹1,114 crore during Q1FY22 over CPLY. The operating profit of the Chemicals Business increased 151% from ₹89 crore to ₹222 crore in Q1FY22 over CPLY. During the quarter, the Specialty Chemicals Business performed well owing to higher sales from exports and domestic markets. The Fluorochemicals Business witnessed higher sales volumes in the refrigerants and the blends segments with better sales realizations, especially from the export markets. In addition, healthy contribution from the chloromethanes segment augmented the overall results. The second wave of COVID-19 induced lockdowns resulted in disruption of supply chains, leading to an overall increase in raw material prices and export freight across geographies.
240	240
241	241	The Packaging Films Business reported an increase of 54% in its segment revenue from ₹677 crore to ₹1,041 crore during Q1FY22 when compared with CPLY. The operating profit of the Packaging Films Business increased 7% from ₹221 crore to ₹237 crore in Q1FY22 over CPLY. During the quarter, while the domestic demand for BOPET films remained muted, the company witnessed healthy demand for BOPP films. New capacities that came on-stream in the past six months in Hungary and Thailand witnessed significantly better traction and enhanced sales of Value-Added Products (VAPs) also contributed to the overall performance.
...	...	@@ -244,19 +244,17 @@
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245	245	The Other Businesses reported an increase of 126% in its segment revenue from ₹24 crore to ₹54 crore in Q1FY22 when compared with CPLY. The operating profit of the Other Businesses increased 814% from ₹ (0.28) crore to ₹2 crore in Q1FY22 over CPLY. Both the Coated and Laminated Fabrics Business performed well in a difficult external environment.
246	246
	241	+Capex
247	247
248		-**Capex**
249		-
250	250	The Board has approved a project for Integrated Expansion of Fluorocarbon based Refrigerant Capacity at Dahej at a projected cost of ₹550 crore to meet the growing demand for refrigerants in the domestic and exports market and is expected to be completed in twenty-four months.
251	251
252	252	To cater to the growing power requirements of new and upcoming plants at Dahej, the Board has approved the installation of 200 KV grid at a projected cost of ₹135 crore.
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	247	+Interim Dividend
254	254
255		-**Interim Dividend**
256		-
257	257	In today’s meeting of the board of directors, an interim dividend at the rate of 120 percent, amounting to ₹12 per share was approved.
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259	259
260		-= References =
	252	+References
261	261
262	262	{{putFootnotes/}}