Raghav Productivity Enhancers forms JV with TRL Krosaki for silica ramming mass unit
Raghav Productivity Enhancers Limited (RPEL) has entered into a Joint Venture Agreement with TRL Krosaki Refractories Limited (TRLK). The JV will establish a silica ramming mass manufacturing unit in Odisha with a planned capacity of 3,50,000 MTPA. RPEL will hold 80% and TRLK 20% stake. This move aims to strengthen RPEL's presence in East India.
The joint venture for a new manufacturing unit is a significant strategic move that is expected to enhance the company's market position and operational capabilities, warranting a medium impact.
The formation of a joint venture with a reputable company like TRL Krosaki, leveraging RPEL's patented technology and TRLK's raw material resources, is a positive development for business expansion and market presence.
Raghav Productivity Enhancers Limited (RPEL) announced the outcome of its 4th Board Meeting for FY 2026-27, held on September 4, 2026. The Board approved entering into a Joint Venture Agreement (JVA) with TRL Krosaki Refractories Limited (TRLK) to establish a silica ramming mass manufacturing unit in Odisha.
The Joint Venture Company will be incorporated subject to requisite approvals and fulfillment of JVA terms. RPEL will hold an 80% stake in the JV, while TRLK will hold 20%. The JV's scope includes the development, manufacturing, sales, and distribution of silica ramming mass. TRLK will supply quartz-ite stone from its mines in Odisha, and RPEL will utilize its patented silica processing technology.
The planned capacity for the JV unit is 3,50,000 MTPA. RPEL will receive royalties for the use of its patented manufacturing intellectual property. The JV's board will consist of three members, with two nominated by RPEL and one by TRLK. Mr. Hemant Madhusudan Nerurkar, an Independent Director of RPEL, is also a Non-Executive Director on the board of TRL Krosaki, but the transaction is conducted on an arm's length basis with no other relationship or control between the parties.
RPEL, the world's largest manufacturer of silica ramming mass with a consolidated turnover of ₹257 crore in FY25-26, aims to strengthen its presence in East India through this JV. TRLK, a subsidiary of Krosaki Harima Corporation, Japan, and a step-down subsidiary of Nippon Steel Corporation, Japan, reported a consolidated turnover of ₹2,880 crore in FY25-26.
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Raghav Productivity Enhancers Limited filed this with the NSE as a statutory disclosure, categorised under joint ventures. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Raghav Productivity Enhancers Limited. Read the original for the full detail.