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TRL Krosaki Refractories Limited

Company Name
TRL Krosaki Refractories Limited
Last Traded Price (LTP)
1,200.00
% Change
-1.96 %
Scrip Name
TRL Krosaki
ISIN No.
INE012L01014
PAN No.
AAACT6494Q
Face Value
10
No. of Outstanding Shares
20,900,000
Market Capitalization
2,508.00 Crore
Book value
289.156
P/BV
4.15
EPS
49.636
PE ratio
24.176
Available on
nsdl
ROFR Required
No

TRL Krosaki Refractories Limited Unlisted Shares -Company Overview

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 that 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 diversifying 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.

TRL Krosaki Share Price Details as of March 31, 2022

TRL Krosaki Outstanding Shares: 2,09,00,000
Face Value of TRL Krosaki Unlisted Share: Rs. 10 Per Equity Share
ISIN of TRL Krosaki Unlisted Share: INE012L01014
Lot Size of TRL Krosaki Unlisted Share: 40 Shares
TRL Krosaki Share Price: Best in Industry
PAN Number of TRL Krosaki: AAACT6494Q

Incorporation Details of TRL Krosaki Refractories Limited

CIN of  TRL Krosaki

U26921OR1958PLC000349

Registration Date of  TRL Krosaki


05 September 1958

Category/Sub-category of  TRL Krosaki

Company Limited by Shares

Address of the Registered office and contact details of TRL Krosaki

Belpahar- 768218

Dist: Jharsuguda (Odisha)

Phone No.: 06645-258417

TRL Krosaki Registrar and Transfer Agent Details

Universal Capital Securities Private Limited

Principal Business Activities of TRL Krosaki

Name and Description of main products/services

NIC Code of the product/service

% to the total turnover of the Company

Manufacture and sale of refractories

2391

100%

Board of Directors of TRL Krosaki

Mr. H. M. Nerurkar, Chairman

Mr. P. B. Panda, Managing Director

Mr. Hisatake Okumara, Director

Ms. Shuang Zhu, Director

Mr. Hisatake Okumara, Director

Mr. Sachihiko Asaya, Director

Mr. Jumpei Konishi, Director

Mr. Anirban Dasgupta, Director

Mr. Pradeep Vasudeo Bhide, Independent Director

Mr. Raghupathy Ranganath Rao, Independent Director

Particulars of Associate Companies of TRL Krosaki

S.No.

Name of the Company

Holding/ Subsidiary/ Associate

% of shares held

1.

Krosaki Harima Corporation

Holding

77.62%

2.

Almora Magnesite Limited

Associate

39%

3.

TRL Krosaki Asia Pte. Ltd.

Associate

37%

Shareholding Pattern of TRL Krosaki Refractories Limited (as of 31st March 2022)

S. No.

Shareholders’ Name

No. of Shares held

% of total Shares of the company

1.

  Promoters Group

1,62,22,864

77.62%

2.

Public shareholding

46,77,136

22.38%

 

Total

2,09,00,000

100.00%

Industry Outlook of Refractories

Refractories are composite materials used in large volume in extreme, usually corrosive environments in equipment, such as, furnace lining, molten metal storage and tapping for high temperature materials processing and other applications in which thermo chemical properties are of critical importance. Refractories are therefore facilitating or enabling materials and are essential to successful operations of any core industry in which high temperature applications are involved. About 70% of world refractories production is consumed by steel industry. In India steel industry consumes around 75% of refractories produced. Other significant consumers of refractories are copper, cement, lime, aluminum, glass, chemicals industries. The steel industry is the major consumer of refractories. The growth of refractories industry is closely linked with the growth of iron and steel industry. India has become 2nd largest producer of crude steel in the world. India's estimated steel production in 2021-22 was 118 Mn. MT an increase of 16 Mn. MT from 102 Mn. MT in 2020-21. It is estimated that steel demand will continue to increase in India especially from construction, automotive and infrastructure sectors. Growth story of Indian Steel Industry is further supported by Government's thrust on infrastructure development which was announced in the Union Budget. Indian steel industry is expected to infuse fresh funds for raising capacity utilization. Steel industry in India is consolidating and the unused capacity of the industry is being utilized. It is estimated that the steel production in India will increase to 126 Mn. MT by 2022-23. This will increase the demand for refractories. Other major consuming industries like cement, copper and aluminum are also expected to grow in the next 5 years.

Balance Sheet of TRL Krosaki Refractories Limited saki (Rs. in Crores) 

Particulars

31st March 2022

31st March 2021

31st March 2020

   

ASSETS

 

       

NON-CURRENT ASSETS

 

       

Property, plant and equipment

392.65

300.71

240.65

   

Capital work in progress

65.38

107.17

69.35

   

Intangible assets

3.91

3.18

3.44

   

Investments

1.47

1.49

0.86

   

Loans

0.22

5.21

5.93

   

Other financial assets

3.70

-

3.47

   

Other Non-Current assets

25.42

25.80

29.80

   

TOTAL NON-CURRENT ASSETS

543.27

494.05

423.20

   

CURRENT ASSETS

 

       

Inventories

449.94

356.60

314.02

   

Trade receivables

299.01

237.15

274.22

   

Cash and cash equivalents

3.73

1.31

0.77

   

Loans

0.58

2.41

2.98

   

Other financial assets

2.86

0.20

0.27

   

Other Current assets

29.37

31.36

49.70

   

Assets held-for-sale

0.03

2.78

8.62

   

TOTAL CURRENT ASSETS

785.55

631.82

650.76

   

TOTAL ASSETS

1328.83

1125.87

1073.96

   

EQUITY AND LIABILITIES

 

       

EQUITY

 

       

Equity Share Capital

20.90

20.90

20.90

   

Other equity

583.43

494.16

491.31

   

TOTAL EQUITY

604.33

515.06

512.21

   

LIABILITIES

 

       

NON-CURRENT LIABILITIES

 

       

Borrowings

80.28

101.43

87.17

   

Lease Liabilities

18.19

19.41

18.55

   

Provisions

45.31

41.94

32.90

   

Deferred tax liabilities (net)

5.70

4.99

5.96

   

TOTAL NON CURRENT LIABILITIES

149.49

167.77

144.58

   

CURRENT LIABILITIES

 

       

Borrowings

227.24

74.01

146.00

   

Trade payables

301.83

288.17

215.05

   

Lease liabilities

1.54

1.21

1.00

   

Other financial liabilities

8.35

56.86

8.81

   

Other current liabilities

17.76

10.47

32.06

   

Provisions

10.39

8.74

8.90

   

Current tax liabilities

7.84

3.59

5.37

   

TOTAL CURRENT LIABILITIES

574.99

443.04

417.17

   

TOTAL LIABILITIES

 724.48

610.81

561.75

   

TOTAL EQUITY AND LIABILITIES

1328.83

1,125.87

1,073.96

   

Statement of Profit And Loss of TRL Krosaki Refractories Limited (Rs. in Crores)

Particulars

2022

2021

2020

Revenue from Operations

1923.55

1423.93

1652.92

Other Income

0.42

3.74

2.66

Total Income

1923.97

1427.67

1653.76

EBITDA

186.48

87.57

182.52

EBITDA Margin

9.69%

6.14%

11.04%

Depreciation and amortization expense

34.30

28.93

26.83

Finance Cost

15.92

12.42

16.55

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

0.61

(8.54)

4.19

Profit before exceptional item and tax

133.48

38.66

135.57

Exceptional Item

3.64

7.88

-

Profit before tax

137.12

46.54

135.57

Total  Tax Expense

33.38

10.83

30.20

Profit/ (Loss) after tax

103.73

35.71

105.37

Profit Margin

 5.39%

2.50%

6.37%

EPS (In Rs.)

49.64

17.08

50.42

Dividend History of TRL Krosaki Unlisted Share

Particulars

2022

2021

2020

Dividend Per Share (In Rs.)

15

6.40

14.5

Retained Earnings (In Rs. Crores)

352.84

263.54

261.32

Performance of TRL Krosaki

  • Revenue from Operations of the company increased by 35.08% in FY 2022 to Rs. 1923.55 Crores from Rs. 1423.93 Crores in FY 2021.

  • EBITDA increased by 112.94% from Rs 87.57 Crores in FY 2021 to Rs. 186.48 Crores in FY 2022. EBITDA margins increased from 6.14% in FY 2021 to 9.69% in FY 2022.
  • Total borrowings of the company increased from Rs. 175.44 Crores as of 31st March 2021 to Rs. 307.52 Crores as of 31st March 2022.
  • The Finance cost of the company increased by 28.18% from Rs. 12.42 Crores to Rs. 15.92 Crores.
  • Profit after tax stood Rs. 103.73 Crores in FY 2022 against a Profit after tax of Rs. 35.71 Crores in FY 2021, showing a growth of 190.47%.
  • The Debt-to-Equity ratio of the company as of 31st March 2022 was 0.52.
  • The Current Ratio of the company as of 31st March 2022 was 1.37.
  • The company has given dividends of Rs.15, Rs.6.40 and Rs.14.50 for FY 2022, FY 2021, and FY 2020, respectively.
  • The Book value of the company as of 31st March 2022 was Rs.289.15.

 

Annual Reports

TRL Krosaki Refractories Limited 2021-22

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