Gujarat Fluorochemicals Limited (earlier known as Inox Fluorochemicals Limited) was incorporated as a Public Limited Company on 6th December 2018 as a wholly-owned subsidiary of GFL Limited for vesting of demerged Chemical Business Undertaking of GFL Limited into the Company, as a going concern. The Company's Holding Company is the Inox Leasing and Finance Limited, a Group having exposure to diverse sectors like Chemicals Business comprising of the chemicals, refrigerants, fluoropolymers and fluorospeciality chemicals product families and renewable energy. It has emerged as one of the top five global players in the fluoropolymers market with exports to Europe, Americas, Japan and Asia.
As per Scheme of Arrangement between Gujarat Fluorochemicals Limited, now known as GFL Limited (the Demerged Company) and Inox Fluorochemicals Limited, now known as Gujarat Fluorochemicals Limited (the Company or the Resulting Company), the Chemical Business Undertaking of the Demerged Company demerged into the Company, which the Hon'ble National Company Law Tribunal, Ahmedabad Bench, approved on 4th July, 2019. The said NCLT Order was filed by both Companies with Registrar of Companies on 16th July, 2019 making the Scheme operative from that date. Accordingly, the said Chemical Business, stand transferred and vested into the Company being the Appointed Date i.e., 1st April, 2019. As a result of this Scheme, the name of the Company changed from lnox Fluorochemicals Limited to Gujarat Fluorochemicals Limited w.e.f. 26th July, 2019 and Equity Shares of the Company got listed on BSE and NSE effective on 16th October, 2019.
The Company is engaged in manufacturing and trading of refrigerant gases, caustic soda, chloromethane, polytetrafluoroethylene (PTFE), fluoropolymers, fluoromonomers, specialty fluorointermediates, specialty chemicals and allied activities, which caters to both domestic and international markets. Apart from these, it has 2 manufacturing plants situated in Ranjitnagar and Dahej,(Gujarat) with modern & backward-integrated PTFE manufacturing facilities. Their manufacturing processes are controlled by modern DCS systems and technologically advanced hardware to deliver quality products, of which, both units in Gujarat are ISO certified.
During the FY2020, Company spent Rs. 3148 crore on CAPEX investment in manufacturing facilities.
As on 31st March 2020, Company has 4 overseas subsidiaries namely Gujarat Fluorochemicals Americas LLC, Gujarat Fluorochemicals GmbH, Gujarat Fluorochemicals Singapore Pte. Limited, GFL GM Fluorspar SA and one joint venture company namely Swarnim Gujarat Fluorspar Private Limited.
In 2021, the Company launched 25 new products.
In 2021-22, Company implemented the Yokogawa Data Historian system to analyse production data and improve plant performance. It launched ESPEN, a virtual plant process analysis system; launched Learning Management System - ODventure' - Organisation Development venture, thus, making learning accessible to all and allowing the flexibility to access the training course from anywhere and at any time. It developed a greener route process for new API and Agro-based products like CFT, MTA, and 4-TFMA; launched DCTFMA, BTF, 1,4 DFB, and EDFA which are commercialized and manufacture at the site. For penetration in the EV space, it expanded activities of establishing dedicated plant for EV sector; It announced a CAPEX of Rs 2,750 Crore during 2022-2024 in battery chemicals and binders, expansions in fluoropolymers including PTFE,PVDF and FKM, with a backward integration model and allied infrastructure.
During 2021-22, GFCL EV Products Limited and GFCL Solar and Green Hydrogen Products Limited, 100% subsidiaries of the Company were incorporated in December 2021 in Gujarat, India. Similarly, Gujarat Fluorochemicals FZE, a 100% subsidiary was incorporated in Dubai as well.
During the Financial year 2022-23, the said Members of Promoter Group of the Company reclassified themselves from the 'Promoter Group' category to the 'Public' shareholders category effective , on 1st February, 2023. In 2023, the Company developed suitable PVDF grades for cathode binder application; developed Green NFPA (Greener surfactant) specifically for selected grades of PTFE and PVDF.