Annual Report: 2024
Sixty-fifth Annual Report 2023 - 24
TRL Krosaki's 65th Annual General Meeting will be held on September 18, 2024, to transact business including adopting audited standalone and consolidated financial statements for the year ended March 31, 2024. Declaration of a dividend of 28.50 per equity share of 10 each for the financial year 2023-24 is also on the agenda. Mr. Sachihiko Asaya, retiring by rotation, is proposed for re-appointment. Mr. Jumpei Konishi will not be reappointed. Prasanta Kumar Naik, newly appointed as Additional Director and Managing Director for three years starting May 1, 2024, and Mr. Sunanda Sengupta, newly appointed as Additional Director and Whole Time Director starting August 2, 2024, are proposed for appointment. Approval of the cost auditors' remuneration is sought.
The company reported a turnover of ₹2515.89 Crores for 2023-24, compared to ₹2299.15 Crores in 2022-23. Profit Before Interest, Depreciation & Taxes was ₹373.90 Crores, and Profit After Taxes was ₹241.22 Crores. The Board recommends a dividend of 28.50 per share. Global growth is projected at 3.1 percent in 2024. ADB has increased India's GDP growth forecast for 2024-25 to 7 percent.
The company achieved record revenue and profit, with revenue increasing to ₹2516 Crores. Export revenue was ₹321 Crores. The company plans to further improve its capacity and customer service. The company is also focusing on mechanization in application services and investments to improve quality. Alumina Graphite (AG) refractories are giving good results. The company is improving customer service by continuous monitoring the performance of refractories by technical experts at customer’s sites and adopting best safety practices by its safety officers. Revenue from stockiest sales has increased by 22%.
TRL Krosaki Asia Pte. Ltd. Singapore and Almora Magnesite Limited are associates. Health, Safety and Environment (HSE) initiatives are emphasized. TRL Krosaki is the first Refractories Company to get certified to SA 8000 standard and to Integrated Management Systems (IMS). The company also won several awards and recognitions for safety and environment. TRL Krosaki's environment management initiatives look beyond mere compliances. They are starting the use of natural gas, working on recovering and reusing used refractories, and focusing on air pollution control. The company's greenbelt coverage stands at around 35% of the total land area. Corporate Social Responsibility (CSR) initiatives include education, healthcare, and infrastructure development. ₹268.11 Lakhs were spent on CSR initiatives. A formal annual evaluation of the board and directors' performance was conducted and was found to be satisfactory.
The company’s is implementing ethical corporate governance. The copy of the Annual Return is placed on the Company's website. Vigil mechanism policies are in place. There is a committee on the board. Meetings and audit are done by internal and external auditors.
M/s BSR & Co. LLP have audited the accounts for the financial year ended March 31, 2024. Ashok Mishra & Associates are the Secretarial Auditors. Saroj K. Babu & Co. are the Cost Auditors. There were no reported instances of fraud. The Company complied with secretarial standards. The company developed a risk management framework and policy. By Order of the Board of Directors is Asim Kumar Meher, Company Secretary.
Mr. Prasanta Kumar Naik was appointed Managing Director of the Company for a period of 3 years, while Mr. Sunanda Sengupta was appointed as Whole Time Director. Information regarding remuneration and terms is listed in the statement pursuant to section 102(1) of the Companies Act, 2013.
The independent auditors' report expresses an unqualified opinion on the consolidated financial statements as of March 31, 2024. BSR & Co. LLP are the Chartered Accountants for TRL Krosaki. They have audited the company's books for the financial year ended March 31, 2024, and no material misstatements were found. The key financial statement components, along with comparative data, are listed in the report.
Access essential information and documents to make informed investment decisions
Stay updated with upcoming events, conferences, and announcements
Access quarterly and half-yearly financial statements and reports
Download comprehensive annual reports and financial summaries
Access investor presentations, corporate briefings, and slideshows
Our blog provides insightful information about unlisted shares, offering a deeper understanding of how these assets work, their potential benefits, and the risks involved. Whether you're new to unlisted shares or looking to expand your knowledge, we cover topics such as investment strategies, valuation methods, market trends, and regulatory aspects. Stay updated with expert tips and guides to navigate the unlisted share market effectively.
Unlisted shares are stocks of companies that are not listed on any stock exchange, meaning they are not publicly traded. These shares are typically available for trade in the private market through brokers, and can offer unique investment opportunities.
You can buy unlisted shares through a broker or platform that specializes in unlisted share transactions. We provide a secure and easy way to purchase unlisted shares from top companies, ensuring a smooth transaction process.
The share prices of unlisted companies can fluctuate based on various factors like market demand, company performance, and private transactions. You can check the latest share prices for unlisted companies on our website for real-time updates.
Unlisted shares can offer higher growth potential, as they are typically not subject to the same market volatility as listed shares. However, they come with higher risk due to limited liquidity and availability of information. It's important to research thoroughly and consult experts before investing.
To sell unlisted shares, you can connect with a broker or platform that facilitates the sale of private stocks. We help investors buy and sell unlisted shares with ease, ensuring that your transaction is handled professionally and securely.
Yes, unlisted shares can eventually be listed on a stock exchange through an Initial Public Offering (IPO). This process allows the company to offer its shares publicly and be traded on major exchanges, potentially increasing liquidity and visibility.
Gains from unlisted shares are subject to capital gains tax in India. Short-term capital gains (if held for less than 24 months) are taxed at your applicable income tax rate, while long-term capital gains (if held for more than 24 months) are taxed at 20% with indexation benefits. Always consult a tax advisor for precise tax implications.
The value of unlisted shares is typically determined by private transactions, financial reports, and market demand. We provide the latest updates on share prices of unlisted companies, giving you the most accurate valuation available.
The minimum investment for unlisted shares can vary depending on the company and broker. Generally, the minimum investment is higher than for listed stocks, but we provide detailed information to help you make the best investment decisions.
Yes, unlisted shares may pay dividends if the company has declared them. However, since these companies may be in their growth stage, dividend payments are not always guaranteed. It's important to check the company's financial health before investing.
It's important to conduct thorough research on the company's financials, management, market potential, and overall business model. You can also seek professional advice from experts to help you choose unlisted shares with strong growth prospects.
Gains from unlisted shares are subject to capital gains tax in India. Short-term capital gains (if held for less than 24 months) are taxed at your applicable income tax rate, while long-term capital gains (if held for more than 24 months) are taxed at 20% with indexation benefits. Always consult a tax advisor for precise tax implications.
