Page 145 - CW E-Magazine (7-11-2023)

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SPECIALITY CHEMICALS

Zydex Group aims for strong revenue growth

across all business verticals in FY24

Speciality chemicals company, justify global expansion,” Mr. Ranka ganic farming in one crop cycle that too
Zydex Group, is eyeing 15-20 percent said. with increase in profi ts, he added.
growth in revenues to Rs. 375-crore
from all its verticals including road, About high dependency on chemi- About the paint vertical, he said
textile, agro, water proofi ng and paints cal fertilisers, he said Uttar Pradesh, that interior and exterior mineral paints
in FY2023-24 compared to previous Punjab and Haryana have high depen- from Zydex are made by using only
fi scal year. dency on chemical fertilisers usage fi nest natural earth pigments, which
and need immediate attention to ensure offer a service life of over 15 years
In an interview with news agency, farm soil sustainability in terms of without fading or peeling.
PTI, Mr. Ajay Ranka, Chairman and soil fertility.
Managing Director of Zydex Group With over 200 products, Zydex
said, “We are expecting 15 to 20 percent Zydex’s bio-farming solutions have offers textile solutions that minimise
revenue growth in all business verticals enabled farmers to increase their yields water consumption and help move to-
during 2023-24 compared to 2022-23”. by 15-50 percent, reduce irrigation wards a ‘zero liquid discharge’ goal,
He added that the company gets 35 per- by 20-30 percent, decrease the use of he explained.
cent revenue from road vertical, 35 per- fertilisers by 50-100 percent and pesti-
cent from textiles, 10-12 percent agro, cides by 20-40 percent, he added. About the potential of its road verti-
14-15 percent from waterproofi ng and cal he said that today rural and city roads
3-4 percent from paints business. Zydex has also introduced a chemi- have a lot of undulation, potholes and
cal-free farming project for farm re- need improved experience for riders.
“Organic growth of the company is vival (Prakalp Sanjivani). Zydex Indus- The soil stabilisation technology of
expected in the next two years beyond tries is the world’s fi rst company to Zydex when combined with anti-strip and
which inorganic growth will be looked produce bio-products that help farmers warm mix technology can make city and
into, once business verticals stabilise and switch from chemical farming to or- rural roads like highways, he pointed out.

NEW PROJECTS

SRF to set up manufacturing facilities for BOPP fi lm
and agrochemical intermediate

The Board of Directors of SRF Rs. 424-crore, SRF informed that the pro- the year-ago period. Total income fell
Ltd. has approved projects for setting ject has been commissioned and capita- to Rs. 3,206.48-crore during Q2FY24
up a manufacturing facility for capa- lised at an aggregate cost of Rs. 489-crore. (Rs. 3,760.52-crore).
citor-grade bi-axially oriented poly- “The cost over-run is due to an increase
propylene (BOPP) fi lm in Indore at a in civil and preoperative expenses and “During the (second) quarter, we
projected cost of Rs. 275-crore. It also delays caused in obtaining support from felt the brunt of the destocking and
approved a project for setting up a new the technology partner due to COVID inventory rationalisation phenomenon
facility to produce an agrochemical imposed restrictions,” it added. in our chemicals business. Having said
intermediate in Dahej, Gujarat at a cost that, we are now beginning to see some
of Rs. 235-crore. Profi t falls 37% in Q2 FY24 positive traction that should bode well
Meanwhile, the company has for a better second half of FY24. The
Updating on a capital expenditure reported a 37% decline in its consolida- overcapacity in our packaging fi lms
plan for setting up an integrated facility ted net profi t to Rs. 300.78-crore for business will continue for some more
for the development of polytetrafl uoro- the September quarter on lower in- time,” SRF Chairman and Managing
ethylene (PTFE) at an estimated cost of come, compared to Rs. 480.99-crore in Director, Mr. Ashish Bharat Ram said.

144 Chemical Weekly November 7, 2023 Chemical Weekly November 7, 2023 145

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