Hot Deals:
5 star business 505.00 (1.00 %) a v thomas 12,800.00 (-1.54 %) aether industries 642.00 amol minechem 620.00 (1.64 %) anglo french 720.00 (-5.26 %) apl metals 44.00 (-2.22 %) aricent 595.00 (-0.83 %) arohan 197.00 (-3.90 %) assam carbon 243.00 (-2.80 %) atlas copco 5,050.00 (3.06 %) auckland 135.00 (-3.57 %) axles 135.00 (-3.57 %) b9 bira 830.00 (-1.19 %) balmer lawrie van leer 300.00 bharat hotels 162.00 (1.25 %) bikaji foods 360.00 (5.88 %) boat 1,030.00 (-5.50 %) c & s electric 400.00 capgemini 12,000.00 (-4.00 %) care health 145.00 (-3.33 %) carrier aircon 261.00 (-3.33 %) cial 185.00 (-0.54 %) csfbl 300.00 (-0.99 %) csk 178.00 (1.71 %) dalmia bharat refractories 95.00 (-4.04 %) delhivery 504.00 (-1.75 %) east india pharmaceutical 43.00 (2.38 %) eaton fluid 281.00 (0.36 %) electronica plastic 4,300.00 (2.38 %) elgi ultra 400.00 elofic 1,909.00 (0.47 %) epiroc 1,224.00 (-2.08 %) esl steel 46.00 (-2.13 %) fincare 69.50 (-0.71 %) fino paytech 165.00 (-2.94 %) frick india 4,140.00 (-3.72 %) gkn drive 1,150.00 (-0.95 %) godavari biorefineries 71.00 (1.43 %) hdbfsl 656.00 (-2.09 %) hdfc ergo 363.80 hdfc securities 13,700.00 (-2.14 %) hella india 158.00 (1.94 %) hero fincorp 800.00 (-5.88 %) hicks 2,100.00 (-2.55 %) hira ferro 140.00 (-6.67 %) honeywell electrical 4,240.00 (-0.24 %) icex 5.60 (-6.67 %) incred financial 100.00 india carbon 1,300.00 (1.56 %) india exposition mart 132.00 (-2.22 %) indian potash limited 1,405.00 (0.36 %) indofil industries 710.00 (-3.40 %) infinite computer 700.00 inkel 12.95 (-0.38 %) ixigo 111.00 (-5.13 %) jana sfbl 75.00 kial 120.00 (-2.44 %) klm axiva 10.00 kurlon enterprise 640.00 (-3.03 %) kurlon limited 450.00 (-2.17 %) lava 155.00 (-3.13 %) manipal hfsl 72.50 (0.69 %) manjushree technopack 1,150.00 (-3.36 %) martin and harris 2,070.00 (-5.91 %) merino 2,900.00 (-4.92 %) minosha 320.00 (-1.54 %) mitsubishi heavy industries 355.00 (1.43 %) mkcl 415.00 (1.22 %) mobikwik 555.00 (-7.50 %) mohan meakin 1,250.00 (-3.85 %) mohfl 11.50 (-4.17 %) msei 1.19 (-0.83 %) msil 54.00 (-1.82 %) ncdex 275.00 ncl buildtek 245.00 (-2.00 %) ncl holdings 48.00 (-4.00 %) nse 3,411.00 (-0.26 %) orbis financial 72.00 (2.86 %) oswal minerals 42.50 (1.19 %) otis 4,000.00 (-2.44 %) oyo rooms 100.00 (-9.91 %) panasonic appliances 306.00 (0.33 %) panasonic avc 29.10 (0.34 %) paymate india 630.00 (-10.00 %) pharm easy 54.00 (-1.82 %) philips domestic 565.00 (-4.24 %) philips india 1,150.00 (-2.21 %) pnb metlife 70.00 proyuga adtech 25.00 ramaraju surgical 540.00 (-4.42 %) reliance general insurance 340.00 resins plastics 406.00 (0.25 %) ring plus 350.00 (-3.05 %) rrl 3,000.00 (-1.64 %) sabmiller 400.00 (-1.23 %) satya micro 200.00 scottish assam 654.00 (0.62 %) shriram life 251.00 (0.40 %) signify 1,126.00 (0.09 %) smile microfin 80.00 (-2.44 %) sri vishnu shankar 640.00 (-1.54 %) sterlite power 900.00 (-1.10 %) studds 1,310.00 (-2.96 %) t stanes 675.00 tata tech 4,910.00 (0.20 %) tmbl 525.00 (1.94 %) trl krosaki 1,390.00 (-0.71 %) utkarsh coreinvest 166.00 (0.61 %) vikram solar 51.00 (2.00 %) xerox 261.00 (0.38 %)
×

trl krosaki refractories Limited

1,390.00
-0.71 %
Scrip Name
TRL Krosaki
ISIN No.
INE012L01014
PAN No.
AAACT6494Q
Face Value
10
No. of Outstanding Shares
20,900,000
Market Capitalization
2,905.10 Crore


TRL Krosaki Refractories Limited (TRL Krosaki)


About the Company:

TRL Krosaki Refractories Limited (TRL Krosaki), is a Company incorporated in the year 1958 under the name of 'Belpahar Refractories Limited', which had set up its plant at Belpahar, Jharsuguda in 1959 to meet the refractories requirement of steel, aluminum, and copper industries of the country. It was subsequently renamed Tata Refractories Limited (TRL) in the year 1986.

TRL Krosaki is an Integrated Management Systems (IMS) certified company and is the No.1 refractories manufacturing company in India. It manufactures a wide range of products like Basic, Dolomite, High Alumina, Monolithics, Silica, Taphole Clay, and RH Snorkel Refractories. The company also provides technical services to its customers in the form of Refractories Management Services, Refractories Engineering Services, and Technical Support Services.

Krosaki Harima Corporation (KHC), Japan, which is a leading refractories player in the World, has a 77.62% stake in the Company. KHC was established in 1919 and it accumulated technologies over 96 years which help in providing solutions backed by the latest technologies. 'Krosaki Harima' is an associate of Nippon Steel & Sumitomo Metal Corporation, Japan which has a global ranking of being the 2nd steel producer in the world.

The Company has two Associate Companies namely TRL Krosaki Asia Pte Limited, Singapore, and Almora Magnesite Limited, Almora, Uttarakhand. TRL China Limited, a refractories manufacturing company in the People's Republic of China is a wholly-owned subsidiary of TRL Asia Pte Limited.

The association with KHC has benefited the Company in accessing the latest technology and diversified its products, thus increasing its potential to penetrate the world refractories market. KHC and TRL Krosaki have jointly emerged as the 4th largest refractories manufacturer in the world.


INCORPORATION DETAILS


CIN

U26921OR1958PLC000349

Registration Date


05 Sep 1958

Category/Sub-category of the Company

Company Limited by Shares

Address of the Registered office and contact details

Belpahar- 768218 Dist: Jharsuguda (Odisha) Phone No.: 06645-258417 Fax: 06645-250254


PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

The Company is primarily engaged in the business of manufacturing of a wide range of refractories like Basic, Dolomite, High Alumina, Monolithic, Silica, Flow Control and Tap Hole Clay and providing refractories engineering and management services.

BOARD OF DIRECTORS

Mr. H. M. Nerurkar                             Chairman

Mr. P. B. Panda                                    Managing Director

Mr. Sudhansu Pathak

Ms. Shuang Zhu

Mr. Hisatake Okumara

Mr. Sachihiko Asaya

Mr. Jumpei Konishi

Mr. Anirban Dasgupta

Mr. Pradeep Vasudeo Bhide              Independent Director

Mr. Raghupathy Ranganath Rao       Independent Director


PARTICULARS OF ASSOCIATE COMPANIES

Name of the Company

% of shares held

Country of Incorporation

Almora Magnesite Limited

39.00%

India

TRL Krosaki Asia Pte. Ltd.

37%

Singapore



SHAREHOLDING PATTERN


Categories of Shareholding as on 31st March 2021

Category of Shareholder

Number of Shares Held

Percentage of Share Capital

Foreign Holdings

1,62,22,864

77.62

Government Companies

22,03,150

10.54

FIs, Insurance Companies & Banks

9,62,500

4.61

Other Corporate Bodies

4,09,490

1.96

Individual & Others

11,01,896

5.27


Top Ten Shareholders of the Company as on 31st March, 2021

Name of the Shareholders

No. of Shares Held

% of Holding

Krosaki Harima Corporation

1,62,22,864

77.62

Steel Authority of India Limited

22,03,150

10.54

Life Insurance Corp. of India

9,62,500

4.61

Rita Pavankumar

4,65,000

2.22

SMIFS Limited

1,50,000

0.72

S. M. S. Investment Corp. Pvt. Limited

97,490

0.47

Devraj Singh

92,285

0.44

Lalitya Kumar

92,285

0.44

Man-Made Fibers Pvt. Limited

75,000

0.36

M/s Alpic Finance Limited

70,000

0.33


TRL Krosaki Refractories Limited


Total Available Shares:

2,09,00,000

Face Value:

Rs. 10 Per Equity Share

ISIN:

INE 012L01014.

Pan No.

AAACT6494Q

Lot Size:


Current Price:

Rs. 1550

Market Capitalization (in Rs. Crore)

3135





INDUSTRY OUTLOOK


The Refractories market size is expected to grow at a CAGR of 3.4%, by value, during the forecast period. The market is estimated to be USD 23.2 billion in 2020 and is projected to reach USD 27.4 billion by 2025. The driving factor for the Refractories market is its growing demand from the iron & steel industry.

The global Refractories market includes major Tier I and II suppliers like Saint-Gobain (France), RHI Magnesita (Austria), Corning Incorporated (US), Morgan Advanced Materials (UK), and Shinagawa Refractories (Japan). These suppliers have their manufacturing facilities spread across various countries across the Asia Pacific, Europe, North America, South America, and Middle East & Africa. COVID-19 has impacted their businesses as well.

These players have announced the suspension of production due to the lowered demand, supply chain bottlenecks, and to protect the safety of their employees in the US, France, Germany, Italy, and Spain during the COVID-19 pandemic. As a result, the demand for refractories is expected to decline in 2020. Manufacturers are likely to adjust production to prevent bottlenecks and plan production according to demand from tier 1 manufacturers.

Growing urbanization and industrialization, especially in emerging economies such as India and China, has led to significant investment in the construction of residential and commercial buildings. According to the Global Construction Perspective and Oxford Economics, the global construction market will grow by 85% to USD 15.55 trillion worldwide by 2030, with three countries China, India, and the US accounting for 57% of the global growth.

China is one of the fastest-growing economies; rising travel demand requires the constant development of railways and roadways in the country. This has also boosted the growth of the automotive industry in China. The increased pace of infrastructure development in these emerging countries has led to an increase in the construction of residential and commercial buildings, which is expected to drive the demand for refractories in the iron & steel, and cement industries. Increasing construction activities in emerging economies are also expected to drive the glass industry, which, in turn, will drive the refractories demand

Financial Highlights

STANDALONE BALANCE SHEET AS AT 31st March 2021 (Rupees in Crores)

Particulars

2021

2020

ASSETS



NON-CURRENT ASSETS



Property, plant and equipment

300.71

240.65

Right-of -use assets

18.59

18.45

Capital work in progress

107.17

69.35

Intangible assets

3.18

3.44

Investments in associates

14.61

14.61

Investments

1.49

0.86

Loans

5.21

5.93

Other financial assets

0.00

3.47

) Non-current tax assets (net)

1.53

10.29

Other non-current assets

25.80

29.80

TOTAL NON-CURRENT ASSETS

478.29

396.84

CURRENT ASSETS



Inventories

356.60

314.02

 Trade receivables

237.15

274.22

 Cash and cash equivalents

1.31

0.77

Other balances with banks

0.00

0.19

Loans

2.41

2.98

Other financial assets

0.20

0.27

Other current assets

31.36

49.70

Assets held-for-sale

2.78

8.62

TOTAL CURRENT ASSETS

631.82

650.76

TOTAL ASSETS



EQUITY AND LIABILITIES



EQUITY



Equity Share Capital

20.90

20.90

Reserves and Surplus

476.67

465.05

TOTAL EQUITY

497.57

485.95

LIABILITIES



NON-CURRENT LIABILITIES



Borrowings

101.43

87.17

Lease Liabilities

19.41

18.55

Provisions

41.94

32.90

Deferred tax liabilities (net)

6.72

5.86

TOTAL NON-CURRENT LIABILITIES

169.50

144.48

CURRENT LIABILITIES



Borrowings

74.01

146.00

Financial Liabilities



Trade payables

288.17

215.05

Lease liabilities

1.21

1.00

Other financial liabilities

56.86

8.81

Other current liabilities

10.47

32.06

Provisions

8.74

8.90

Current tax liabilities

3.59

5.37

TOTAL CURRENT LIABILITIES

443.04

417.17

TOTAL LIABILITIES

612.54

561.65

TOTAL EQUITY AND LIABILITIES

1,110.11

1,047.60


STANDALONE STATEMENT OF PROFIT AND LOSS (Rupees in Crores)

Particulars

2021

2020

2019

Revenue from Operations

1423.927726

1652.916051

1592.188797

Other Income

5.8048439

0.8452787

2.1042051

Total Revenue

1429.73257

1653.76133

1594.293002

 change %

-13.55%

3.73%


EBITDA

90.61

174.76

177.53

Change %

-48.15%

-1.56%


EBITDA Margin

6.34%

10.57%

11.14%

EBIT

61.68

147.93

145.68

EBIT Margin

4%

9%

9%

DEP

28.9349422

26.8269869

31.8572263

FINANCE COST

12.4160393

16.5521583

15.7210328

Profit before exceptional item and tax

49.2609697

131.3827612

129.9544001

Exceptional Item

7.8797625

0

0

Profit before tax

57.1407322

131.3827612

129.9544001

Tax Expense I Current Taxes

10.5244433

33.7860855

46.6659977

Taxation for earlier years

0.2978009

-0.1619521

0.1263553

Deferred tax

1.8375862

-2.9295346

-1.5530397

Total  Tax Expense

12.6598304

30.6945988

45.2393133

PAT

44.4809018

100.6881624

84.7150868

Change %

-56%

19%


Profit Margin

3.11%

6.09%

5.31%

No of Shares

2,09,00,000

2,09,00,000

2,09,00,000

EPS(in Rs.)

21.28

48.18

40.53



  

CONSOLIDATED BALANCE SHEET AS AT 31st March 2021   (Rupees in Crores) 





Particulars

2021

2020



ASSETS





NON-CURRENT ASSETS





Property, plant and equipment

300.71

240.65



Right-of -use assets

18.59

18.45



Capital work in progress

107.17

69.35



Intangible assets

3.18

3.44



Equity accounted investments

30.37

40.97



Investments

1.49

0.86



Loans

5.21

5.93



Other financial assets

0.00

3.47



Non-current tax assets (net)

1.53

10.29



Other non-current assets

25.80

29.80



TOTAL NON-CURRENT ASSETS

494.05

423.20



CURRENT ASSETS





Inventories

356.60

314.02



 Trade receivables

237.15

274.22



 Cash and cash equivalents

1.31

0.77



Other balances with banks

0.00

0.19



Loans

2.41

2.98



Other financial assets

0.20

0.27



Other current assets

31.36

49.70



Assets held-for-sale

2.78

8.62



TOTAL CURRENT ASSETS

631.82

650.76



TOTAL ASSETS

1125.87

1073.96



EQUITY AND LIABILITIES





EQUITY





Equity Share Capital

20.90

20.90



Reserves and Surplus

494.16

491.31



TOTAL EQUITY

515.06

512.21



LIABILITIES





NON-CURRENT LIABILITIES





Borrowings

101.43

87.17



Lease Liabilities

19.41

18.55



Provisions

41.94

32.90



Deferred tax liabilities (net)

4.99

5.96



TOTAL NON CURRENT LIABILITIES

167.77

144.58



CURRENT LIABILITIES





Borrowings

74.01

146.00



Trade payables

288.17

215.05



Lease liabilities

1.21

1.00



Other financial liabilities

56.86

8.81



Other current liabilities

10.47

32.06



Provisions

8.74

8.90



Current tax liabilities

3.59

5.37



TOTAL CURRENT LIABILITIES

443.04

417.17



TOTAL LIABILITIES

610.82

561.76



TOTAL EQUITY AND LIABILITIES

1,125.87

1,073.96




CONSOLIDATED STATEMENT OF PROFIT AND LOSS (Rupees in Crores)

Particulars

2021

2020

2019

Revenue from Operations

1423.93

1652.92

1592.19

Other Income

3.74

0.85

2.10

Total Revenue

1427.67

1653.76

1594.29

 change %

-14%

4%


EBITDA

88.55

174.76

177.53

Change %

-49%

-2%


EBITDA Margin

6%

11%

11%

EBIT

59.61

147.93

145.68

EBIT Margin

4%

9%

9%

DEP

28.93

26.83

31.86

FINANCE COST

12.42

16.55

15.72

Share of (loss)/profit of equity-accounted investees

-8.54

4.19

3.47

Profit before exceptional item and tax

38.66

135.57

133.43

Exceptional Item

7.88

0.00

0.00

Profit before tax

46.54

135.57

133.43

Tax Expense I Current Taxes

10.52

33.79

46.67

Taxation for earlier years

0.30

-0.16

0.13

Deferred tax

0.01

-3.43

-0.95

Total  Tax Expense

10.83

30.20

45.84

PAT

35.71

105.37

87.59

Change %

-66%

20%


Profit Margin

3%

6%

5%

No of Shares

20900000.00

20900000.00

20900000.00

EPS( in Rs.)

17.08

50.42

41.90


Ratio Analysis @ Rs. 1150 per Share.

Particulars

2021

2020

ROE

6.93%

20.57%

Capital Employed (In Rs. Millions)

682.83

656.79

ROCE

8.73%

22.52%

ROA

3.17%

9.81%

Debt to Equity

1.19

1.10

Current Ratio

1.43

1.56

Dividend Yield Ratio

0.4%

NA

EPS (In Rs.)

17.08

50.42

Book Value Per Share (In Rs.)

246.43

245.07

P/B Multiple

6.29

NA

P/E Multiple

90.75

NA


Dividend History 

 

Year

2021

2020

2019

Dividend (in Rs. Per Share)

6.4

14.5

12.2

Pay-out Ratio

37%

29%

29%


Performance

The Company had been continuously improving its overall business performance with respect to revenue and profit from 2016-17 to 2019-20-21 also. However, the outbreak of the COVID-19 pandemic forced the Company to revise its business plan commensurate with the overall market situation and customers' plans. Although the operations of its main plant at Belpahar were not affected, the demand from customers has significantly reduced due to the stoppage of customers' plants during the peak period of a pandemic. On a standalone basis the gross production during the year was 2,10,194 MT against 2,29,053 MT of the previous year; a demand. Taking the increased capacity into consideration, the capacity utilization of THC products reached 92% in December 2020 and Dolomite Burnt products reached 100% in March 2021. The Company manufactures all types of refractory products except Alumina Graphite (AG) refractories used in steel making process. To further strengthen its capability in the steel-making process, the Company is putting up a greenfield Alumina Graphite (AG) refractories manufacturing facility with technical support from Krosaki Harima Corporation, Japan. The new facility is expected to commence commercial production by end of 2021. The performance of Dolomite bricks has improved in many steel plants and the Company is able to retain its share of the business of 70%. Similarly, the volume of Dolomite bricks sales in international business has increased by 46% in the current year over the previous year. Tap Hole Clay remains one of the focused products of the Company and the revenue from Tap Hole Clay products has decreased from Rs.159 Cr. to Rs.143 Cr. due to the impact of the COVID-19 Pandemic. However, the market share in Trough business in the current year remained the same as 2019-20 in spite of the impact of the COVID-19 Pandemic.

Powered by Froala Editor

Wealth Wisdom - WWIPL
Support Megha Support Neha Support Pallavi