In January last year, the company's board had approved the proposal to create pharma intermediates plant for undertaking precursor processes for production of pharma products at Dahej at a cost of Rs 190 crore.

The project has been financed via a mix of debt and internal accruals.

The company has set up the said plant inorder “to tap new and upcoming business opportunities in the pharma space.”

SRF is a chemical based multi-business entity engaged in the manufacturing of industrial and specialty intermediates. The company's diversified business portfolio covers fluorochemicals, specialty chemicals, packaging films, technical textiles, coated and laminated fabrics.

The specialty chemical maker's consolidated net profit rose marginally to Rs 510.90 crore in Q3 FY23 as against Rs 505.54 crore posted in Q3 FY22. Revenue from operations stood at Rs 3,469.66 crore in the quarter ended 31 December 2022, registering a growth 3.7% on YoY basis.

The scrip rose 0.52% to currently trade at Rs 2437.45 on the BSE.