Gujarat Fluorochemicals Limited (GFL) is a part
of the $2 billionINOX Group of Companies. INOX is a family
owned, professionally managed business group, with interests
in diverse businesses including Industrial Gases, Refrigerants,
Chemicals, Carbon Credits, Cryogenic Engineering, Renewable
Energy and Entertainment. The INOX Group employs more than
3500 people at more than 75 business units across the country,
and has a distribution network that is spread across more
than 50 countries around the globe. Each INOX Group company
is characterized by three distinct characteristics - early
identification of a winning business idea, building it to
a size of dominant market leadership in that segment, and
attaining profit leadership position through cutting-edge
efficiency in operations.
Companies, other than GFL, include:
Fluorochemicals Limited (GFL) is a public limited company,
listed on both the leading stock exchanges of India –
the Bombay Stock Exchange and the National Stock Exchange.
It was incorporated in 1987, and commenced commercial operations
GFL has a market capitalization close to US $ 1 Billion
, Gross Fixed Assets of US $ 225 million, Net Worth of US
$ 250 million, and strong cash profits in excess of US $
100 Million per annum. GFL is rated AA- (stable) by CRISIL,
India’s largest rating agency.
Driven by the principle of “conservative aggression”,
GFL’s dynamic corporate team very meticulously identifies
and plans new projects and growth opportunities, which,
once selected, are aggressively implemented by a professional
management team. As result of this approach GFL has attained
leadership position in each segment of its operations.
GFL attained a key milestone in 2007, when it commissioned
India’s largest PTFE plant. PTFE is an extremely specialized
engineering plastic, and only a select few firms the world
over have the technology for PTFE manufacture. GFL also
operates India’s largest refrigerant plant, which
exports refrigerants to more than 75 countries across the
GFL has been at the forefront in bringing the concept of
carbon credits to India. GFL’s CDM project was the
first in the world to seek registration by the CDM Executive
Board, a body of the United Nations Framework for Climate
Change. GFL is the largest CDM player in India, and amongst
the top 5 globally. GFL has exhibited its strong emphasis
on sustainable development and corporate social responsibility
through implementing this project.
Our subsidiary, INOX Leisure Limited, runs India’s
leading cinema exhibition business through its world-class
multiplex chain. Continuing to show our strong commitment
to the environment, we aspire to becoming India’s
largest renewable energy generator, through the wind energy
business we are currently implementing.
GFL has been named India’s most Investor Friendly
Company , India’s Best Managed Company in the Chemical
Sector American Express and Dun & Bradstreet.
| GFL has
been rated no.# 1 amongst India’s most Investor
Friendly Company by Business Today
| India’s Best Managed
Company in the Chemical Sector by American Express and
Dun & Bradstreet
| Selected as one of India’s
100 best managed companies by Business Today –
Ernst & Young study
is India’s largest and most competitive producer of
Refrigerant HCFC22. GFL has totally phased out CFCs, three
years ahead of the Montreal Protocol mandated phase-out
schedule. GFL’s refrigerant plant, located at Ranjitnagar,
Gujarat, is accredited ISO9001 :2000, OHASAS 18001 :2007
& ISO14001 :2004.
Around 95% of GFL’s refrigerant production is exported
to more than 75 countries across the globe. Domestically,
GFL is the preferred supplier of refrigerants to all the
major OEMs in the air-conditioning and refrigeration sector.
Internationally, GFL has a strong distribution network in
more than 50 countries across the globe. GFL produces its
own AHF (a feedstock for HCFC22 manufacture) and has recently
established a Joint Venture in China for AHF production
has set up, at Dahej, Gujarat, an integrated chemical complex,
which comprises of a 52,500 tpa Caustic Soda / Chlorine
plant, a 40,000 tpa Chloromethane plant, and a 30 MW gas-based
captive power plant. These facilities were set up at a total
investment of Rs 500 crores, and have commenced commercial
operations in 2007. These facilities will significantly
enhance GFL’s cost competitiveness due to the advantages
of backward integration, besides adding to GFL’s product
portfolio, top-line and bottom-line from FY2008-09 onwards.
These facilities also have a significant potential for de-bottlenecking,
with marginal investments, to further improve profitability
once full capacity has been reached.
GFL has also established an Anhydrous HCL plant, a first
of its kind in India, and only the third in Asia, to cater
to the pharmaceutical and agriculture sectors in India.
its integrated chemicals complex at Dahej, GFL has also
set up, at 6,000 tpa, India’s largest PTFE plant,
based on state-of-the-art international technology. This
is a major technological breakthrough since, the
world over, PTFE manufacturing technology is controlled
by a handful of players.
PTFE is a versatile and advanced engineering plastic, which
has multiple applications across industries, due to its
outstanding chemical resistance, heat resistance, insulation,
low-friction and non-stock properties. PTFE is used in chemicals,
textile, automobile, electrical, electronics, and a host
of other sectors. In rapidly growing economies like China,
the demand for PTFE has grown 5 times over the past 5 years.
With its backward integration right upto Caustic Soda and
captive power, GFL is probably the world’s most integrated
PTFE manufacturer. PTFE also provides longevity to GFL’s
refrigerant business, and provides a platform to GFL to
enter the new-age refrigerants.
by its strong beliefs in the principles of Sustainable Development
and Corporate Social Responsibility, GFL has developed a
UNFCCC-compliant Clean Development Mechanism Project, which
earns “carbon credits” by the thermal oxidation
of a waste gas, HFC23, in its refrigerant gas manufacturing
plant. This was the first CDM Project in the world
to seek registration under the Kyoto Protocol,
and has been approved by the Governments of India, United
Kingdom, Netherlands, Japan and Italy. Since commencement,
this project has reduced 13 million tones of greenhouse
gas emissions, and the carbon credits so earned have been
sold to leading companies across the globe for compliance
GFL owns and operates an entertainment
business, through its 65% subsidiary, INOX Leisure Limited.
INOX Leisure is engaged in the setting up and operating
India’s premium brand of multiplex cinema theatres
- INOX. INOX currently operates 26 multiplex properties,
across 21 cities, with 93 screens and 27,600 seats. INOX
has won the ICICI Best Retail Entertainment Company of
the Year Award, 2005, the Taal Multplexer of the Year
Award, 2006 and the Emerging SuperBrand of the Year Award,
2007. INOX is amongst India’s largest, fastest growing
and most profitable multiplex chain.
Consequent on a business diversification
study conducted by McKinsey & Co Inc. for the Group,
GFL has decided to invest in the Renewable Energy Business.
Having worked in detail on the concept development for
this initiative for the past two years, GFL has firmed
up its business plan and is now in the process of aggressively
implementing the same. GFL’s vision is to set up
India’s largest Renewable Energy Company, with a
total installed capacity of around 2000 MW in the next
5 years. In pursuance of this objective, GFL has already
set up around 50 MW capacity in Maharashtra and Rajasthan.
A study has already been carried out across States to
assess investment opportunities, based on policy framework,
evacuation infrastructure and financial rating of the
State Electricity Boards. GFL is in the process of conducting
scientific site identification, wind pattern studies and
energy output estimations using international consultants
to identify viable wind sites. GFL is also evaluating
different options for acquiring cost-efficient wind turbines
through international competitive sourcing.
GFL is convinced that with the present power shortage
across Indian states, which is only expected to be accentuated
with India’s economic growth, and with the right
kind of regulatory impetus, the wind energy business can
be developed into an environmentally friendly, socially
responsible and financially attractive business.