Summary of Key Information:

Reporting Period (Quarter/Year): Not Applicable

Nature of Filing / Announcement: Outcome of Board Meeting - Joint Venture Agreement

Corporate Actions:

The Board approved entering into a Joint Venture Agreement (JVA) with TRL Krosaki Refractories Limited (TRLK) for formation of a Joint Venture Company to set up a silica ramming mass manufacturing unit in Odisha.

Joint Venture Details:

  • JV Partner: TRL Krosaki Refractories Limited (TRLK)
  • Ownership Structure: RPEL - 80%, TRLK - 20%
  • Business Scope: Development, manufacturing, sales and distribution of silica ramming mass
  • Planned Capacity: 3,50,000 MTPA (Metric Tons Per Annum)
  • Location: Odisha (specific location not disclosed)

Key Arrangements:

  • TRLK to supply quartzite stone (key raw material) to JV company from its mines situated at Chhuinpali Village, Odisha
  • RPEL to contribute its patented silica processing technology for manufacturing
  • RPEL to receive royalty for use of its patented manufacturing intellectual property
  • Both parties shall contribute capital in their JV ratio (80:20)

Governance Structure:

  • Board Constitution: 3 members (2 from RPEL and 1 from TRLK)

Related Party Disclosure:

  • Mr. Hemant Madhusudan Nerurkar, Independent Director of RPEL, is also a Non-Executive Director on the board of TRLK Krosaki
  • No other relationship exists between both parties
  • No promoter/promoter group/group companies have any interest in the entity being acquired
  • Transaction conducted at arm's length basis

Company Background:

  • RPEL: World's largest manufacturer of silica ramming mass with consolidated turnover of ₹257 crores in FY25-26
  • TRLK: Leading Indian refractory manufacturing company with state-of-the-art technology and manufacturing facilities, consolidated turnover of ₹2,880 crores in FY25-26
  • TRLK is a subsidiary of Krosaki Harima Corporation, Japan (KHC), and step-down subsidiary of Nippon Steel Corporation, Japan
  • KHC: Global leader in refractory manufacturing technology with 20+ manufacturing units across Asia, Europe and North America
  • Nippon Steel Corporation: Japan's largest steel producer and 3rd largest steel producer globally

Rationale and Expected Benefits:

  • Combine RPEL's brand and manufacturing capabilities with TRLK's raw material resources and regional presence
  • Strengthen RPEL's presence in East India market and nearby geographies
  • Target primarily the East India Market

Conditions and Approvals:

  • Incorporation of the JV company subject to receipt of requisite approvals under applicable laws
  • Subject to fulfilment of terms and conditions set out in the Joint Venture Agreement

Additional Information:

  • This intimation is uploaded on the Company's website at www.rammingmass.com
  • Filed pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Compliance with SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30 January 2026