SRF Limited, a known name in India’s chemicals industry, foresees persistent challenges related to demand-supply dynamics and margin pressures within the BOPET sector in the near to medium term. Despite efforts to streamline inventory in the agrochemicals sector throughout FY24, there are positive signs indicating an uptick in demand. Strong customer interest persists in the agrochemicals segment, particularly in the advancement of Active Ingredients (AIs).
Chairman and Managing Director, Ashish Bharat Ram, noted a reasonable recovery in the chemicals business in Q4FY24 and anticipates further improvement in the second half of FY25. As reported by ManufacturingToday, the chemicals business saw a 14% drop in segment revenue and a 33% decline in operating profit during Q4FY24 compared to CPLY, primarily attributed to challenges stemming from inventory streamlining and pricing pressures, particularly from heightened capacity in China affecting the specialty chemicals business.
