Prashant has over 25 years of experience in the chemicals industry, having first joined SRF back in 1996 as an executive trainee. He moved to the Packaging Films business in 2003 and has served as President and CEO since 2013, delivering a global expansion strategy and shaping a new identity of the business in preparation for future growth. Here he speaks to ORIENTATE about SRF’s evolving portfolio, its future vision, and how these align with his expectations for growth in key industries worldwide.

OR: Mr Mehra, it has been almost six years since our last interview with you back in 2019. What in your view have been the most significant industry-wide developments during this time?

PM: Over the past six years, the packaging films industry has undergone significant transformation. The COVID-19 pandemic was a defining event—while it disrupted global supply chains and operations, the industry demonstrated remarkable resilience. Demand for essential packaging remained strong and, in many cases, even grew. However, the post-COVID period saw a surge in new capacity additions, particularly in BOPET and BOPP segments. This influx led to a demand-supply imbalance, putting pressure on margins across the board.

Another notable shift has been in the sustainability agenda. During the pandemic, environmental priorities understandably took a backseat as companies focused on continuity and safety. But in the recent years, sustainability has returned to the forefront with renewed urgency. There is now a stronger push for recyclable materials, mono-material structures and circular economy models, which are reshaping innovation and investment strategies across the industry.

OR: SRF has established a strong position across BOPP and BOPET films, growing from a domestic producer to a global player with additional sites now in South Africa, Europe and Thailand. How would you describe the current state of each of these regional markets and the opportunities they offer?

PM: SRF’s expansion into Europe, South Africa and Thailand is a strategic reflection of our ETDBW philosophy - “easy to do business with” - which emphasises, apart from many things, being closer to our customers. This approach proved especially valuable during the COVID-19 pandemic, when global supply chains were severely disrupted. Having local operations allowed us to maintain continuity and responsiveness in each region.

Each market, however, presents its own dynamics. In Europe, our operations were significantly impacted by slowdown in demand because of higher inflation and the Russia-Ukraine conflict, which led to a sharp rise in energy costs and, consequently, higher production expenses. Fortunately, with energy prices now stabilising, we’re seeing a gradual improvement in operating conditions. Thailand, on the other hand, has faced logistical disruptions and intense competition from lower-cost imports within Southeast Asia, making it a very challenging environment. South Africa has been relatively resilient for us and continues to offer a strategic advantage as a gateway to the broader African market, where demand for quality packaging solutions is steadily growing.

OR: SRF recently renamed its packaging films division to ‘Performance Films & Foil Business’ to reflect its evolving portfolio, which will include aluminium foil and BOPP capacitor films. What was the strategy behind adding these new product lines?

PM: The strategic renaming of SRF’s Packaging Films Division to ‘Performance Films & Foil Business’ reflects a deliberate pivot towards a broader, innovation-driven portfolio that aligns with emerging global demands and high-value applications. By foraying in aluminium foil and capacitor grade BOPP films, SRF is not only diversifying beyond traditional packaging but also positioning itself in adjacent sectors such as electronics, energy storage and sustainable materials. The rebranding signals our ambition to catapult our performance to the next level and signifies our commitment to performance, quality and future-ready solutions, while reinforcing our ambition to lead in both core and adjacent markets.

ORIENTATE subscribers can read the full interview in the September 2025 issue.

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