SRF Board Approves ₹600 Crore Investment for Battery Foil Plant
SRF Limited's Board approved a ₹600 Crore capex for a battery foil manufacturing plant via subsidiary SRF Altech. The facility in Jetapur, MP, will add 12,000 MTPA capacity in two phases. Phase I (₹300 Crore) targets completion by September 30, 2028, aiming for the EV and Energy Storage sectors.
The substantial investment of ₹600 Crores in a new manufacturing facility for a key component in the rapidly growing EV and energy storage markets is expected to have a significant impact on the company's future revenue and market position.
The company is making a strategic investment to expand into high-growth sectors like EVs and energy storage, indicating a positive outlook and proactive business development.
SRF Limited's Board of Directors has approved a significant capital expenditure of ₹600 Crores for setting up a manufacturing facility for Aluminium foil for battery applications. This strategic move, undertaken by its wholly owned subsidiary SRF Altech Limited, aims to capitalize on the burgeoning opportunities in the Energy Storage and Electric Vehicle (EV) sectors in India.
The new facility will be established at the existing site of SRF Altech Limited in Jetapur, Madhya Pradesh. The total project cost of ₹600 Crores will be implemented in two phases, with each phase requiring an investment of ₹300 Crores.
The first phase of the project will add a capacity of 12,000 MTPA and is scheduled to be completed by September 30, 2028. The second phase is expected to be completed by September 30, 2030. The investment will be financed through a mix of debt and internal accruals. The rationale behind this expansion is to build a portfolio of future-ready, value-added products, specifically targeting the battery foil market for Energy Storage and EV applications.
What to do with a filing like this
SRF Limited filed this with the NSE as a statutory disclosure, categorised under capex. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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