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
(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
(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
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 /