TRL Krosaki Refractories Limited
- Unlisted share
- Building Materials
- ISIN INE012L01014
At a glance
Sales
FY25
₹2,600 Cr
+3.9%on FY24What the company earned from its customers in the year.
Profit
FY25
₹344 Cr
+41.2%on FY24What was left after every cost and tax was paid.
Market valuecalculated
₹3,621 Cr
What the whole company would be worth at GrowFast's indicative price.
Net worth
FY25
₹1,203 Cr
What the owners would have left on paper if every debt was repaid.
From the company's published figures; sources are beside each figure further down the page.
Key details
- Company
- TRL Krosaki Refractories Limited
- ISIN
- INE012L01014
- Sector
- Building Materials
- Type of share
- Unlisted equity share
- Indicative price per share
- ₹1,732.50
- Price last updated
- 12 Oct 2026
- Minimum quantity
- Confirmed by the desk
- How you hold it
- In your own demat account
- Enquiries
- GrowFast desk, on WhatsApp
Indicative prices, illiquid shares. Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
Company
About TRL Krosaki Refractories Limited
TRL Krosaki makes refractories, the heat-resistant bricks, linings and flow-control parts used in steel, cement, glass and non-ferrous furnaces, with its main plant at Belpahar in Odisha. Founded in 1958 as a Tata Steel venture (formerly Tata Refractories), it is now a subsidiary of Japan's Krosaki Harima Corporation, a Nippon Steel group company, which owns 77.62%; Steel Authority of India holds about 10.5%.
Written from: d3g9tg0xcqrwuo.cloudfront.net, icra.in, trlkrosaki.com
Financials
Ask for the full annual report.
The figures on this page are the headline numbers. The desk can share the latest annual report and anything published since.
Ask for the financials- Sector
- Building Materials
- ISIN
- INE012L01014
- Registered office
- Belpahar, Jharsuguda district, Odisha
- Holding company
- Krosaki Harima Corporation, Japan (77.62%), a subsidiary of Nippon Steel Corporation; Steel Authority of India Limited holds 10.54%
- Key people
- Chairman: Hemant Madhusudan Nerurkar; Managing Director: Prasanta Kumar Naik; VP (Finance) & CFO: Sitakanta Prusty
- Employees
- 1,553 people
- Face value per share
- ₹10
- Equity shares issued and fully paid up
- 2,09,00,000 shares
- CIN
- U26921OR1958PLC000349
- Official website
- trlkrosaki.com
Read from: TRL Krosaki Annual Report 2024-25 (linked from company website), unless another source is shown on a card.
Key data
What the numbers mean
The ratios buyers look at, each said in plain words.
Price to earnings (P/E)calculated
10.5×
At this price you pay ₹10.5 for every ₹1 of profit the company made in the year.
Price to book (P/B)calculated
3.01×
At this price you pay ₹3.01 for every ₹1 of net worth on the company's books.
Profit margincalculated
13.2%
Out of every ₹100 of sales, ₹13.2 was left as profit.
Return on equitycalculated
28.6%
For every ₹100 of the owners' money, the company made ₹28.6 of profit in the year.
Debt to equitycalculated
0.09×
The company has borrowed ₹0.09 for every ₹1 of its owners' money.
- Indicative price
- ₹1,732.50
- Market valuecalculated
- ₹3,621 Cr
- price × shares
- No. of shares
- 2,09,00,000
- EPS
- ₹164.42
- Book value per share
- ₹575.62
- Face value
- ₹10
Figures marked “calculated” are worked out by GrowFast from its indicative price and the company's published figures for FY2024-25. They move with the price, and they are arithmetic, not a valuation.
Figures in ₹ crore
Financials
TRL Krosaki Refractories Limited. As published in the company's audited reports. GrowFast has not audited them.
Sales, year by year
₹ crore. The darkest bar is the latest year.
FY22 to FY25: ₹1,921 Cr to ₹2,600 Cr.
Profit, year by year
₹ crore, after tax. A bar below the line is a loss.
FY22 to FY25: ₹104 Cr to ₹344 Cr.
| Particulars | FY22 | FY23 | FY24 | FY25Latest |
|---|---|---|---|---|
| Revenue from operations | 1,920.9 | 2,295.02 | 2,502.65 | 2,600.05▲4% |
| Other income | 3.07 | 4.13 | 13.24 | 24.44▲85% |
| Total income | 1,923.97 | 2,299.15 | 2,515.89 | 2,624.5▲4% |
| Depreciation and amortisation expense | 34.31 | 38.7 | 43.7 | 48.43▲11% |
| Finance costs | 15.92 | 22.75 | 21.36 | 11.58▼46% |
| Profit before tax | 137.13 | 210.67 | 310.91 | 433.31▲39% |
| Profit for the year | 103.74 | 158.27 | 243.31 | 343.64▲41% |
| Earnings per share, basic and diluted (₹) | n/a | n/a | 116.42 | 164.42▲41% |
Rupees crore unless marked, consolidated. The change shown is the latest year against the year before. Read from: TRL Krosaki Annual Report 2022-23 (linked from company website), TRL Krosaki Annual Report 2024-25 (linked from company website).
Credit rating. [ICRA]AA (Stable) long term and [ICRA]A1+ short term on bank facilities and commercial paper; reaffirmed 16 June 2026 (16 June 2026) ICRA rating rationale
Ownership
Shareholding pattern
Who owns the company
77.6%Krosaki Harima Corporation, Japan (holding company / promoter)
- Largest holder
- 77.6%
- Top 2 together
- 88.2%
- Holders named
- 2
- Krosaki Harima Corporation, Japan (holding company / promoter)77.62%
- Steel Authority of India Limited10.54%
- Total88.16%
Read from: TRL Krosaki Annual Report 2024-25 (linked from company website), note 10
Leadership
Management
Hemant Madhusudan Nerurkar
Chairman
Prasanta Kumar Naik
Managing Director
Sitakanta Prusty
VP (Finance) & Chief Financial Officer
Sunanda Sengupta
Executive Director
Asim Kumar Meher
Company Secretary
Hisatake Okumura
Director
Raghupathy Rao Ranganath
Independent Director
Sudhansu Pathak
Independent Director
Read from: TRL Krosaki Annual Report 2024-25 (linked from company website), board as on 5 August 2025
Corporate calendar
Events
- 16 Jun 2026RatingICRA reaffirmed AA (Stable)/A1+; rated amount ₹894.24 croreOpen
- 2025-08DividendAnnual report for FY2024-25 proposes a dividend of ₹33 per share (₹28.50 the year before); exact board date not readOpen
- 18 Sept 2024AGMAGM for FY2023-24 at Belpahar; appointment of Prasanta Kumar Naik as Managing Director approvedOpen
- 1 May 2024Management changePrasanta Kumar Naik took over as Managing Director after Priyabrata Panda retired on 30 April 2024Open
Reports and filings
Annual reports and results
Each link opens the document where its publisher keeps it.
Before you buy
Six things to check on any unlisted share.
The same list applies to every stock. None of it is advice on this one.
The company's latest financials
Revenue, profit and debt for the last three years, from its audited annual report. Ask the desk for the most recent set.
What the price implies
Compare the price per share with earnings and book value per share, and with listed companies in the same business.
Whether a listing is planned
A company may file for an IPO, delay it or never list. A listing, its timing and its price are never certain.
How you would sell
There is no exchange for these shares. You sell by finding a buyer, which can take time and may be at a lower price.
Lock-in after a listing
Shares bought before an IPO are usually locked in for a period after the company lists. Confirm the current rule before you buy.
Tax on your gains
Unlisted shares are taxed differently from listed ones. Check your position with a tax adviser.
Questions
What buyers ask about this stock.
Not answered here? Ask the desk.
Inquire about TRL Krosaki Refractories Limited on WhatsAppIs the price shown for TRL Krosaki Refractories Limited final?
No. It is an indicative price per share. The desk confirms the price and the quantity available when you inquire, and the confirmed price is the one you deal at.
How do I buy these shares?
Press Inquire. It opens a WhatsApp chat with the desk, with this stock already named. After the price and quantity are agreed, a 10% advance locks the deal. Once your KYC is complete you pay the balance, and the shares are transferred to your demat account.
Do I pay anything on this website?
No. No payment is taken and no order is placed on this site. Payment details are shared by the desk only after the deal is agreed.
What do I need before I can buy?
A demat account in your name and the documents for KYC: your identity and demat account details are verified before any deal, as the regulations require.
Can I sell my TRL Krosaki Refractories Limited shares to GrowFast?
GrowFast buys as well as sells. Press Inquire and tell the desk how many shares you hold; it will come back with what it can offer.
How do I sell TRL Krosaki Refractories Limited shares I already hold?
Tell the desk how many you hold. If a price is agreed, you transfer the shares from your demat account with a delivery instruction to your depository participant (a DIS, or its online equivalent), and payment follows as agreed with the desk.
Is there a lock-in if the company lists?
Shares held before an IPO are generally locked in for a period after the listing under SEBI's rules, which have changed over time. Ask the desk for the rule that applies today before you buy.
Is buying unlisted shares legal in India?
Yes. Shares of an unlisted company can be bought and sold privately and are transferred between demat accounts. They are not traded on a stock exchange, so the protections of an exchange do not apply.
What is the minimum I can buy?
It differs by stock and by what the desk holds at the time. The desk confirms the minimum quantity when you inquire.
What is an ISIN?
The 12-character code that identifies a security. It is how your depository knows exactly which share is being transferred to your demat account.
Why are unlisted shares riskier than listed ones?
Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
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Risk disclosure
Prices on this site are indicative, quoted per share, and are not an offer to buy or sell. The price and quantity for any deal are confirmed by GrowFast's desk at the time you deal.
Unlisted, pre-IPO and delisted shares are not traded on a stock exchange. They are illiquid, their prices can move sharply, and you may be unable to sell them when you wish or at all. A company that is expected to list may not do so.
Nothing on this site is investment advice or a promise of returns. Past prices do not predict future prices. Consider your own circumstances, and take independent advice, before you invest.
Inquire opens a WhatsApp chat with GrowFast. No payment is taken and no order is placed on this site.
GrowFast is not affiliated with, sponsored by or endorsed by TRL Krosaki Refractories Limited. Its name and logo belong to their owner and are shown only to identify the company. Figures about it come from published sources and have not been audited by GrowFast. See the Terms and Conditions.