TRL Krosaki Refractories Unlisted Shares

TRK Krosaki

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 of the World, has 77.62% stake in the Company. KHC was established in 1919 and it accumulated technologies over 96 years which helps in providing solutions backed by 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 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.

TRL Krosaki Refractories Unlisted Shares Details: 

Industry : Refractories / Intermediates
ISIN Demat: INE012L01014

Please note: TRL Krosaki Refractories Ltd unlisted shares are available only in NSDL demat. Stock is not available in CDSL demat

Total Available Shares: 1000+
Face Value: Rs 10 Per Equity Share
Lot Size: 10 Shares
Current Unlisted Share Price: Rs 1300 Per Equity Share Negotiable

SECTOR – Materials

INDUSTRY – Materials

SUB-INDUSTRY – Construction Materials

FOUNDED – 09/05/1958

ADDRESS – Tata Center, 11th Floor 43 JL Nehru Road Kolkata, 700071 India


Manufacturing Facilities 

Belpahar Plant – Capacity is 2,25,210 MTPA, manufacturing Basic, Dolomite, High Alumina, Silica, Castable, Precast pre fired shapes, Flow control products (New plant with KHC Technology) and Tap Hole Clay (New plant with KHC technology). TRL KROSAKI Belpahar address is RV35+7H4, Belpahar, Odisha 768218

Salem Plant – Capacity of the Plant is 14,400 MTPA, manufacturing Basic ramming mass and Tundish Spray Mass.

Jamshedpur Plant – Capacity of the Plant is 30,000 MTPA, manufacturing Silica Ramming Mass and Precast Prefired Shapes.

MP Plant – Capacity of the Plant is 18,000 MTPA, manufacturing Alumina bricks and Alumina Castables.

Gujarat Plant – Capacity is 66,000 MTPA, manufacturing Alumina bricks and Alumina Castables.

China Plant – Capacity is 90,000 MTPA, manufacturing Mag-C bricks and AMC bricks.


TRL Krosaki is equipped with two of its own mines of Quartzite & Non-Plastic Fireclay to cater as captive source for its Silica Department & High alumina department. The Quartzite mine is located at Chhuinpali village of Jharsuguda district and the Fire clay mine is located at Talabasta Village of Cuttack district in Odisha State.

Chhuinpali Quartzite mine is spread over on a Leasehold area of 102.123 Hectares of non-forest land. This mine produces Refractory Grade Quartzite with SiO2 content 98.5%. Reserve of this grade of Quartzite in Chhuinpali Mine is 18.00 Million Tonne which renders a long life to this mine. In addition to fulfilling the requirement of our Belpahar Plant, this mine also sells Quartzite to other Refractory units in Odisha.

Chhuinpali mine is also exploring the possibility to sell approximately 10000 MT/month of Quartzite to other Refractory units and Steel Industries inside and outside Odisha. Mining operation is being conducted, deploying Heavy Earth Moving Machinery and satisfying all the requirements by Government authorities like DGMS, IBM, MoEF, SPCB and Steel & Mines as per statute.

Industries Served by TRL Krosaki

Iron Making
Steel Making
Other Industries




  • The company has a reputed client base, which includes renowned entities like Tata Steel Ltd. (TSL), Steel Authority of India Ltd. (SAIL), JSW Steel Ltd. etc. The company gets repeat orders from its reputed clientele, reflecting TRL’s acceptable quality of refractory products. Moreover, the reputed client base reduces counterparty risk to a
    large extent.

Please watch to know more about TRL Company & Its Products – TRL Krosaki Corporate Film 

60 years of our glorious journey – From a small one-product company surrounded by tiny hamlets and forest, 60 years ago, to emerging as the No.1 Refractories Company in India.

Refractories are ceramic materials, typically shaped as bricks, designed to withstand very high temperatures needed to manufacture steel, non-ferrous metals, cement, glass, ceramic products etc.  Indian refractory market was sized an estimated Rs 9,000 crore as of last year, with domestic steel industry by far its largest customer.

TRL’s growth has been supported by technology assistance provided by its parent in the high precision and margin accretive tap hole clay and flow control refractory segments. The company is also setting up capacity for alumina-graphite refractory, a high-margin product used in the steel-making process, with assistance from KHC. The facility is expected to be operational by the end of FY2022, which would support revenue growth and strengthen the operating profile by aiding in margin expansion.

TRL leadership position in the domestic refractory market with a wide product portfolio of high-quality refractories, strong brand image and a large and reputed client base.

TRL krosaki full form is Tata Refractories Limited.

Additional capacities are expected to be operational by the end of FY2022, including the high-margin alumina-graphite refractory and increased capacities for the basic, dolomite and tap hole segments. These would support TRL’s revenue growth going forward and strengthen the operating profile by aiding in margin expansion.

TRL Krosaki Refractories Limited (TRL) was initially established in 1958 under the name of Tata Refractories as a joint venture between Tata Steel Limited (TSL) and Didier Werke AG of Germany. Gradually, Didier exited the operations and TSL had the majority stake of 51%.TSL increased its stake in the company to 77.46% between FY2006 and FY2010. In May 2011, TSL sold a 51% stake in the company to Krosaki Harima Corporation (KHC) of Japan, a subsidiary of Nippon Steel Corporation and a leading global player in flow control refractories. The company was subsequently renamed as TRL Krosaki Refractories Limited in 2011. On December 31, 2018, TSL sold its entire 26.62% stake to KHC, thereby raising KHC’s stake in the company to 77.62%.

Latest Financial Performance of TRL Krosaki (Rs Crore)

Particulars 2021-22 2020-21 2019-20 2018-19 2017-18
Net Revenue/ Turnover 1,923.97 1,429.73 1,653.76 1,594.29 1,194.90
Profit After Taxes 102.81 44.48 100.69 84.72 47.03
EPS 49.64 17.09 50
Dividend – (%) 150 64 145 122 66


-TRL Krosaki is a Krosaki Harima Group Company, the 4th Largest Refractories Company in the world and No. 1 Refractories Company in India.
-TRL Krosaki is an all‐product company meeting all kinds of customer requirements.
-Offers value added services like Refractories Engineering and Technical Support Services.
-The only Indian Refractories Company with a Revenue more than INR 1500 Crores and PBT over 130 Crores.
-Have unparalleled plant facilities to manufacture more than 4,00,000 MT Per annum.
-Largest refractories exporter in India.
-Achieved more than 1750 accident free days in its plant premises.
-1st IMS and ISMS certified refractories company in India.
-Proud recipient of Excellence in Customer Service Award from Indian Refractories Makers Association (IRMA).

Shareholding Pattern of TRL Krosaki 

Krosaki Harima Corporation 77.62%
Steel Authority of India Limited 10.54%
Life Insurance Corp of India 4.61%
Rita Pavankumar 2.22%
SMS Investment Corp Pvt Ltd 0.47%
Others 4.29%

Top Competitors of TRL Krosaki 


RHI Magnesita

IFGL Refractories Ltd

Dalmia Bharat Refractories



TRL Krosaki is the No.1 refractories manufacturing company in India.  With all existing advantages and having a team of high performing, knowledgeable, flexible and happy workforce, TRL Krosaki is surging ahead with renewed vigour.

TRL’s cost competitiveness in certain categories of refractories due to its captive raw material sources and longterm arrangements with key raw material suppliers also support the operating profile of the company.

TRL Krosaki serves customers worldwide. Krosaki Harima Corp is a leading global refractories maker and its 42.9 per cent equity is owned by Nippon Steel.

TRL derives significant operational and management synergies from its parent, KHC, a global leader in the refractories business.

Being a pioneer of refractories technology in India, TRL Krosaki continues its zeal to maintain technology leadership through extensive in-house Research & Development activities. To take it further, the company entered with a partnership with Krosaki Harima Corporation, Japan. With these developments, TRL Krosaki is now in a position to provide better products and services to its customers worldwide with new technologies, new product offerings and enhanced its global reach. Stringent Quality control Process, and addition of new facilities for world class products and services makes TRL Krosaki a preferred supplier and services provider for its customers.

TRL Krosaki stock is a must have in investors portfolio for long term multibagger returns. Listed peers of TRL like RHI Magnesita India, Vesuvius India, IFGL Refractory, Morganite India, Orient Abrasive, Carborundum Universal and Dalmia OCL enjoy rich valuations on BSE, NSE.

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