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TRF
BSE: 505854|NSE: TRF|ISIN: INE391D01019|SECTOR: Engineering - Heavy
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« Mar 12
Notes to Accounts Year End : Mar '13
TRF Limited, incorporated in 1962 has its registered office at 11
 Station Road, Burma Mines, Jamshedpur 831007. The Company is listed on
 the National Stock Exchange of India Limited, BSE Limited and The
 Calcutta Stock Exchange Limited. TRF Limited undertakes turnkey
 projects of material handling for the infrastructure sector such as
 power and steel plants, cement, ports, fertilisers and mining. The
 Company is also engaged in production of such material handling
 equipments at its plant at Jamshedpur.
 
 (i) During the year ended March 31, 2012, the Company had set up a
 100% subsidiary, TRF Holdings Pte Ltd at Singapore.  Further during the
 previous year, the Company through its wholly owned subsidiaries TRF
 Singapore Pte Ltd. and TRF Holdings Pte. Ltd. have acquired the balance
 49% shareholding in its subsidiary Dutch Lanka Trailers Manufacturers
 Limited (DLT), a Sri Lanka based company and 49% in York Transport
 Equipment (Asia) Pte Ltd, a Singapore based company for purchase
 consideration of USD 8.33 million and USD 18 million respectively
 making them a wholly owned subsidiaries.
 
 (ii) No provision has been made for liquidated damages and other
 claims by certain customers, wherever these have been refuted by the
 Company and it expects to settle them without any loss. Pending
 settlement of these claims, the relative sundry debtors balances have
 been shown in the accounts as fully recoverable and have been disclosed
 as contingent liabilities under Claims against the Company not
 acknowledged as debt. (Refer note 25 (i)(h))
 
 (iii) Scrap and off- cuts at the contract sites are being accounted on
 cash basis, since segregation and quantification of such items at the
 financial year end is not practicable in view of the contracts being in
 progress.
 
 (iv) Revision in projected profit/(loss) on contracts arising from
 change in estimates of cost to completion of contracts are reflected
 during the course of the work in each accounting year. These have not
 been disclosed in the Financial Statement as the effect cannot be
 accurately determined.
 
 (v) Related party disclosures:
 
 Information relating to related party transactions as per Accounting
 Standard 18 notified by the Companies (Accounting Standards) Rules,
 2006.  A) List of related parties and relationship
 
 a) TRF Singapore Pte Ltd.
 
 YORK Transport Equipment (Asia) Pte Ltd.
 
 YORK Transport Equipment Pty Ltd.
 
 YORK Sales (Thailand) Co. Ltd
 
 YTE Transport Equipment (SA) (Pty) Limited
 
 YORK Transport Equipment (Malaysia) Sdn Bhd*
 
 Rednet Pte Ltd.
 
 PT YORK Engineering YTE Special Products Pte Ltd
 
 Qingdao YTE Special Products Co. Ltd.  Z''
 
 YORK Transport Equipment India Pvt. Ltd.
 
 YORK Transport Equipment (Shanghai) Co. Ltd.
 
 Dutch Lanka Trailer Manufacturers Limited Dutch Lanka Engineering Pvt
 Ltd Dutch Lanka Trailers Manufacturers LLC Hewitt Robins International
 Holding Ltd.
 
 Hewitt Robins International Ltd.
 
 b) TRF Holdings Pte Ltd. (w.e.f 02.02.2012)
 
 c) Adithya Automotive Application Pvt Ltd
 
 d) Tata Steel Limited
 
 e) Key Management Personnel Mr. Sudhir L. Deoras
 
 Note: Related parties have been identified by the management
 ‘Liquidated during the year
 
 (vi) Provision of Rs.131.30 lakhs (At at 31.03.2012 : Rs 147.00 lakhs)
 has been made for anticipated warranty costs relating to certain
 products manufactured and sold by the Company upto March 31, 2013 on
 the basis of technical and available cost estimates.
 
 (vii) Previous year''s figures have been regrouped / reclassified wherever
 necessary to correspond with the current year''s classification /
 disclosure.
Source : Dion Global Solutions Limited
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