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TRF Ltd.

BSE: 505854 Sector: Engineering
NSE: TRF ISIN Code: INE391D01019
BSE 00:00 | 25 Mar 116.60 -4.45
(-3.68%)
OPEN

118.95

HIGH

119.30

LOW

116.10

NSE 00:00 | 25 Mar 116.75 -4.80
(-3.95%)
OPEN

121.45

HIGH

121.45

LOW

116.20

OPEN 118.95
PREVIOUS CLOSE 121.05
VOLUME 5417
52-Week high 285.00
52-Week low 94.00
P/E
Mkt Cap.(Rs cr) 128
Buy Price 116.00
Buy Qty 202.00
Sell Price 119.00
Sell Qty 300.00
OPEN 118.95
CLOSE 121.05
VOLUME 5417
52-Week high 285.00
52-Week low 94.00
P/E
Mkt Cap.(Rs cr) 128
Buy Price 116.00
Buy Qty 202.00
Sell Price 119.00
Sell Qty 300.00

TRF Ltd. (TRF) - Chairman Speech

Company chairman speech

1996 TRF LIMITED CHAIRMAN'S' STATEMENT I take great pleasure in extending a very warm welcome to all of you, to the Thirtythird Annual General Meeting of your Company. The reforms launched by our Government in 1991 with a view to stabilizing the economy, increasing competitiveness and accelerating economic growth have largely stayed on course during the past five years. Although some adjustments and further acceleration may be necessary as the situation evolves, what is significant is the continuing and strong commitment shown by the general polity to reform and liberalisation of the economy. Coming to your own Company, the year under review has been an year of intense activity and significant achievements, the fruits of which will be apparent in the years to come. The total income of Rs. 105.47 crores recorded during the year showed only a marginal increase, due particularly to the long term nature of project work undertaken by the Company. I am happy to report that, as a result of its unremitting marketing efforts, the Company had an order book of over Rs. 320 crores at the beginning of this year, which is the highest ever, in the history of the Company. The Company's Product Group received certification under the ISO 9001 standards, and efforts are on to get the certification for the Project Group. The relevance of quality is more pronounced today than ever before and the stated policy of your Company is to achieve competitive dominance in its business through continuous improvement in quality and skills. The Company's plans for product development and technology upgradation made marked progress during the year. The Company entered into a collaboration with Messrs. Italimpianti, Italy, well known throughout the world for bulk material handling equipment, with special reference to heavy and mobile equipment like stackers, stacker-reclaimers, barrel reclaimers, shiploaders, ship unloaders etc. The Company also signed a collaboration with Messrs. Aubema of Germany for upgradation of its crusher range. As a result, the Company now has access to a whole range of the state-of-art technology and equipment in these areas. The Company signed a Memorandum of Understanding with Messrs. Babcock Material Handling Division GmbH of Germany (BMH) for Coal Dust Injection System for Blast Furnaces and has recently been awarded two major orders for such Systems from SAIL Bokaro and Bhilai respectively. This is yet another diversification area which the Company has entered during the year. The diversification area of manufacturing Stamp-Chafging-Pushing Machines for Steel Plant Coke Ovens is also progressing satisfactorily with a further order from Tata Steel currently under execution. The collaboration agreement with Messrs. Saarberg Interplan of Germany for this technology tie-up, has been renewed for a further ten years. The second phase of the Steel Service Centre project, aimed primarily to cater to Tata Steel's requirements, is coming up at its new location at Bara in Jamshedpur. Tata Material Handling Systems Limited (formerly Tata MAN GHH Limited) have considerable technology and expertise in the area of Material Handling Equipment including Port Terminal Handling Facilities. In order to have a synergy of operations in this area, it is considered advantageous to effect a merger of TMHSL with TRF. The matter is under study and the details of the scheme are being worked out. These will be placed before the shareholders in due course. The vital need today is to gear up with new capabilities and improved competitive edge to grasp the opportunities and meet the challenges that are emerging. The underlying focus as always should be to bring about a qualitative improvement in the Company's responsiveness towards customers needs. I am sure that as a result of the above initiatives, the Company can look forward to the future with greater optimism. I would like to compliment the Managing Director and his team of executives and employees at all levels for the progress achieved. I would especially like to thank the TRF Labour Union for their supportive and constructive role. I wish to convey my grateful thanks to our esteemed customers, Shareholders and bankers for their continued support. In conclusion, I wish to place on record my sincere gratitude to my colleagues on the Board for their invaluable advice and guidance. K. C. MEHRA Chairman Date : 11th July, 1996.