Mission Statement, Vision, & Core Values (2025) of SRF Limited.

An Overview of SRF Limited

General Summary of SRF Limited

SRF Limited, established in 1970, has evolved into a multifaceted organization with its headquarters in Gurugram, India. Initially focused on the tire cord segment, the company has diversified its operations into three primary divisions: Technical Textiles, Pharma, and Packaging Films. As of 2024, SRF Limited boasts a diverse product portfolio that includes tire cords, polyester films, and specialty chemicals.

In terms of sales, SRF Limited reported a robust performance, achieving a revenue of ₹15,000 crore in the financial year 2023-24, driven by strong demand across its product segments. The Technical Textiles division represents a significant portion of this revenue, capitalizing on the thriving automotive and industrial markets.

Company's Financial Performance

In its latest financial report for Q1 2024, SRF Limited showcased an impressive financial performance. The company registered a record revenue of ₹4,000 crore, marking a year-on-year growth of 12%. This surge was largely attributed to its main products, specifically tire cord and packaging films, which saw a sales increase of 15% from the previous year.

The following table summarizes key financial metrics for SRF Limited:

Additionally, SRF announced a capital expenditure plan of ₹1,000 crore for the fiscal year, aimed at expanding its production capabilities and enhancing efficiency across its plants, which is projected to further bolster growth in the coming quarters.

Introduction as a Leader in the Industry

SRF Limited has established itself as a leader in the technical textiles and specialty chemicals industry, known for its innovation and commitment to quality. The company's strategic investments in research and development have positioned it favorably against competitors, enabling it to maintain a strong market share both domestically and internationally.

With a focus on sustainability and product development, SRF continues to attract attention from investors and industry experts alike. The impressive growth trajectory of SRF Limited and its commitment to operational excellence makes it a company worth watching in the upcoming years.

Mission Statement of SRF Limited

Mission Statement of SRF Limited

SRF Limited, a global leader in the production of technical textiles, chemicals, and packaging films, adheres to a mission statement that fundamentally guides its strategy and operations. The significance of SRF's mission statement lies in its alignment with the company's long-term goals and customer commitment. It emphasizes innovation, sustainability, and excellence in quality. This commitment is reflected in its operational strategies and market performance.

Core Components of the Mission Statement

1. Commitment to Quality

SRF Limited’s mission emphasizes a strong commitment to delivering high-quality products that meet or exceed customer expectations. The company consistently invests in research and development to ensure its products offer unmatched performance and reliability. As of FY2023, SRF reported a revenue of ₹15,224 crores (approximately $1.83 billion), showcasing its ability to maintain a high standard of quality across its diverse product range.

In the packaging segment, SRF has established itself as a key player in the global market. The gross profit margin in this sector is approximately 30%, reflecting the company's ability to deliver premium quality products that command higher pricing. Furthermore, SRF's investment in quality control has resulted in a customer satisfaction rate of 95%.

2. Focus on Innovation

Innovation is a core component of SRF's mission statement, emphasizing the company's dedication to developing new products and enhancing existing ones. In FY2023, SRF allocated approximately 6% of its total revenue to research and development, which amounted to ₹913 crores (around $110 million). This investment is pivotal in maintaining a competitive edge in the dynamic markets it serves.

One notable innovation includes the development of high-performance polymers, which has seen a growth in demand by 20% year-over-year. The company's commitment to innovation has positioned it well within the industry, contributing to a market capitalization of approximately ₹65,000 crores (around $7.8 billion) as of early 2024.

3. Sustainability and Corporate Social Responsibility

Sustainability is integral to SRF Limited’s mission statement. The company is committed to minimizing its environmental footprint and adopting sustainable practices across its operations. In 2023, SRF achieved a reduction in carbon emissions by 15% compared to the previous year, reflecting its commitment to environmental stewardship.

Moreover, SRF's Corporate Social Responsibility (CSR) initiatives have focused on community welfare and education. In FY2023, SRF invested ₹47 crores (around $5.6 million) in various CSR projects, benefiting over 100,000 individuals across its operational regions. This investment underscores the company’s commitment to creating a positive impact in society while aligning with its mission statement.

Vision Statement of SRF Limited

Vision for Sustainable Growth

SRF Limited envisions a future where their operations contribute to sustainable economic growth while minimizing environmental impact. As of 2024, their goal is to enhance their sustainability initiatives, aiming for a 30% reduction in greenhouse gas emissions per unit of production by 2030. This aligns with their commitment to the global climate agenda.

Innovation Leadership

SRF Limited aims to be a leader in innovative solutions in the chemicals and technical textiles sectors. Their vision includes investing ₹300 crore over the next three years in research and development. This investment is expected to yield innovations that will enhance product performance and meet evolving customer needs.

Global Market Expansion

The company aims to expand its global footprint, targeting growth in emerging markets. By 2024, SRF plans to increase its revenue from international markets by 15% annually. This strategy will involve establishing new partnerships and expanding production facilities outside India.

Employee Welfare and Development

SRF Limited places a strong emphasis on employee development as part of their vision. By 2024, they aim to provide training and skill development to at least 80% of their workforce. This initiative includes creating a comprehensive training program aimed at enhancing employee skill sets relevant to the company’s future growth areas.

Table: SRF Limited Vision Components and Targets

Core Values of SRF Limited

Integrity

Integrity is a foundational value for SRF Limited, guiding its interactions with stakeholders and creating trust in its operations.

In 2024, SRF Limited implemented stricter compliance measures, resulting in a reduction of compliance-related incidents by 25% compared to the previous year. The company conducted trainings for over 10,000 employees to reinforce ethical practices in business operations.

Additionally, SRF's adherence to international standards like ISO 9001 further showcases its commitment to integrity. In 2023, the company achieved an 87% score on its internal audit for compliance with these standards.

Innovation

Innovation drives SRF Limited’s competitiveness in the market, enabling the company to develop advanced solutions that cater to customer needs.

In 2024, SRF invested ₹500 Crores in research and development, focusing on sustainable and technologically advanced products. This investment led to the introduction of three new product lines, increasing the company's market share in the specialty chemicals segment by 15%.

Moreover, SRF holds over 300 patents globally, indicating its strong focus on innovation and the protection of its intellectual property.

Excellence

Excellence reflects SRF Limited's commitment to high standards in product quality and operational efficiency.

In 2024, the company achieved a production capacity utilization rate of 92%, significantly higher than the industry average of 75%. SRF’s overall yield improved by 10% through the implementation of Six Sigma methodologies.

The company received the Quality Excellence Award from the Indian Chemical Council in 2024, recognizing its superior product quality in the fluorochemicals sector.

Sustainability

Sustainability is integral to SRF Limited’s strategic vision, focusing on minimizing its environmental impact and promoting social responsibility.

In 2023, SRF reduced its carbon emissions by 18%, achieving a total emission level of 0.75 million tons. The company has set a target to decrease emissions by an additional 20% by 2025.

As part of its sustainability initiative, SRF launched a waste management program that recycled 80% of its industrial waste, earning recognition from local environmental authorities.

Customer Centricity

Customer centricity ensures SRF Limited prioritizes customer needs and satisfaction in every aspect of its business.

In 2024, SRF enhanced its customer service platform, resulting in a 30% increase in customer satisfaction ratings. The company also implemented a customer feedback system, with over 5,000 responses collected to improve products and services.

Moreover, SRF’s rapid response teams reduced average customer complaint resolution time by 40%, showcasing its commitment to addressing customer concerns promptly.