Annual Report 2022-23
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INTELLECTUALCAPITAL

Innovation, research and development is an important part of our Chemicals Business. This is embedded as part of our Aspirations 2030 – i.e. under Innovation & Technology Leadership. In line with our aspirations, the ingenious team of scientists and engineers across our R&D centres in Bhiwadi and Gurugram work tirelessly to ensure our R&D investments and programs are directed towards the requirements of the market and the customers.

Material issues addressed

Innovation, Research & Development

Total Quality Management

Employment

Inputs

42

Patents applied in FY23

129.31 Cr.

R&D spent

400+

R&D workforce

Outputs

18

Patents granted in FY23

Multiple New products launched

Chemicals Technology Group (CTG)

CTG at SRF is actively engaged in the development of new products and process technologies for the Specialty Chemicals and Fluorochemicals businesses. The Group’s key focus is the development of intermediates for new Active Ingredients (AI) in pharmaceuticals, agrochemical industries as well as new generation refrigerants. With a 400+ workforce, CTG serves as the catalyst in improving SRF’s capabilities of process development, scale-up, and commercialisation of new chemistries in our chosen areas of operation.

Collaborating with Customers

Our R&D team along with business development teams often collaborate with our customers for joint product and process development. These have proven to be successful models for customer-driven product development, further enhancing a spirit of collaboration and partnership between us and our customers.

New Product & Process Development

  • Chemicals Business: Launch of products catering to Agrochemical and Pharma sectors
  • Packaging Films Business: Multiple BOPET and BOPP products commercialised during the year
  • Technical Textiles Business: Developing value-added products

Continuous Efforts Towards Digitalisation

To propel enterprise transformation, the Company has invested in cutting-edge and scalable digital platforms that emphasise process digitisation, digital workflows, analytics, automation, and cloud product suites. Consequently, strategic decision-making has been expedited, and the Company’s IT landscape is based on the latest technology.

Impact of Intellectual Capital on other capitals

  • Manufactured Capital: Efficient capacity utilisation, new product development across businesses
  • Financial Capital: Higher profits earned on account of new and better products
  • Human Capital: Specialised talent enhancing Company’s research & development capabilities
  • Natural Capital: Operational efficiencies leading to the lower input of natural resources
  • Social & Relationship Capital: Collaborations with customers on product reengineering