Refractory Stock Signs Major Expansion Move, Plans New Silica Ramming Mass Plant With Industry Leader

On Friday, Indian equity benchmark indices traded higher, with the benchmark Nifty 50 index rose 80 points (0.34 per cent) to 23,954. Amid the market movement, Raghav Productivity Enhancers share price fell 2.93 per cent to Rs 1,829.9 after the company announced a joint venture agreement with TRL Krosaki Refractories Limited to establish a silica ramming mass manufacturing facility in Odisha.

Raghav Productivity Enhancers Limited informed exchanges that its Board of Directors approved entering into a Joint Venture Agreement (JVA) with TRL Krosaki Refractories Limited for setting up a joint venture company focused on silica ramming mass manufacturing. The incorporation of the joint venture company will be subject to applicable regulatory approvals and fulfilment of conditions mentioned in the agreement.

Joint Venture To Strengthen Silica Ramming Mass Manufacturing

The proposed joint venture company will undertake the development, manufacturing, sales and distribution of silica ramming mass. Under the agreement, Raghav Productivity Enhancers will hold an 80 per cent stake in the joint venture, while TRL Krosaki Refractories will hold the remaining 20 per cent stake.

The partnership combines Raghav Productivity Enhancers’ manufacturing capabilities and patented silica processing technology with TRL Krosaki’s raw material resources and industry presence. TRL Krosaki will supply quartzite stone, a key raw material for the facility, from its mines located at Chhuinpali Village, Odisha.

Raghav Productivity Enhancers will utilise its patented silica processing technology for manufacturing and selling silica ramming mass, primarily targeting the East India market and nearby regions.

Facility Planned With 3.5 Lakh MTPA Capacity

The joint venture company is expected to establish a silica ramming mass manufacturing facility with a planned capacity of 3,50,000 metric tonnes per annum (MTPA). Raghav Productivity Enhancers will also receive royalty for the use of its patented manufacturing intellectual property.

The board of the joint venture company will comprise three members, including two representatives from Raghav Productivity Enhancers and one representative from TRL Krosaki Refractories.

Both parties will contribute capital towards the joint venture in proportion to their respective shareholding ratios.

Partnership Brings Together Industry Capabilities

Raghav Productivity Enhancers is the world’s largest manufacturer of silica ramming mass, with a consolidated turnover of Rs 257 crore in FY26. TRL Krosaki Refractories is a leading Indian refractory manufacturer with consolidated turnover of Rs 2,880 crore in FY26 and operates manufacturing facilities along with quartzite mines.

TRL Krosaki is a subsidiary of Krosaki Harima Corporation, Japan, and a step-down subsidiary of Nippon Steel Corporation, Japan. Krosaki Harima Corporation operates a global network of more than 20 manufacturing units, regional offices and subsidiaries across Asia, Europe and North America.

The company stated that the joint venture is expected to strengthen Raghav Productivity Enhancers’ presence in East India by combining its manufacturing expertise with TRL Krosaki’s raw material access and regional presence.

About the Company:

Raghav Productivity Enhancers Limited is engaged in manufacturing silica ramming mass, a key refractory material used in industrial applications. The company focuses on silica processing technology and serves industries requiring refractory solutions. It has established itself as a major player in the silica ramming mass segment with manufacturing capabilities and patented technology.
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Disclaimer: The article is for informational purposes only and not investment advice.