46th Annual General Meeting
Dr Jamshed J Irani, Chairman, TRF Ltd at the 46th AGM, along with other members of the board

July 20, 2009

The 46th Annual General Meeting of TRF limited was held at SNTI Auditorium, ‘N’ Road, Bistupur, Jamshedpur on July 20, 2009. The Shareholders unanimously adopted the Annual Accounts for the year ended March 31, 2009.

For the F.Y. 2008-09, the Company has achieved its highest ever stand alone turnover of Rs. 53165.64 lakhs (P.Y. Rs. 36284.53 lakhs), registering an increase of 47%. Profit before tax from ordinary activities was also highest ever at Rs.7028.75 lakhs (P.Y. Rs.5002.06 lakhs), an increase of 41%. Profit from ordinary activities after tax was Rs. 4552.83 lakhs (P.Y. Rs. 3205.84 lakhs), an increase of 42%. Earning per share before extraordinary income, as on March 31, 2009 was Rs. 82.75 (P.Y. Rs. 58.26), registering a growth of 42%.

The Company has also achieved an all time high consolidated turnover of Rs. 72379.98 lakhs (P.Y. Rs. 44627.80 lakhs), registering an increase of 62%. Profit before tax from ordinary activities was also highest ever at Rs. 6515.90 lakhs (P.Y. Rs.6089.46 lakhs), an increase of 7%. Profit from ordinary activities after tax was Rs. 4048.82 lakhs (P.Y. Rs. 3216.42 lakhs), registering a growth of 26%.

During the meeting Shareholders unanimously approved the payment of dividend @ 120% for 2008-09 (Previous year 100%).

The Shareholders also unanimously approved the issue of Bonus Shares in the ratio of 1:1.

Later, the Board of Directors at their meeting considered and approved Q1 2009-10 financial results. The Company has registered a consolidated net profit of Rs.519.90 lakhs for three months ended June 30, 2009 (P.Y. Rs.773.36 lakhs). The consolidated net sales/income is Rs.13509.37 lakhs (P.Y. Rs.12472.08 lakhs), registering a growth of 8.4%. The Earning per share as on June 30, 2009 is Rs.4.73 (not annualized).

During three months ended on June 30, 2009, TRF Ltd made highest ever stand-alone net sales/ income of Rs. 10973.83 lakhs (P.Y. Rs.5967.88 lakhs), registering a growth of 84% and highest ever Profit after tax of Rs. 652.84 lakhs (P.Y. Rs. 386.23 lakhs), registering a growth of 69 %. The Earning per Share as on June 30, 2009 is Rs 5.93 (not annualized).

On June 01, 2009, the Company has entered into a Shareholders agreement along with M/s Tata Capital Limited and Jasper Industries Private Limited to form a Joint Venture viz Adithya Automotive Applications Pvt. Limited (AAA). This Joint Venture is constituted with the objectives of engaging in the business of automotive applications to provide end-solutions through fabrication and machining for vehicles to be used as tippers, load bodies, trailers, refrigerated bodies etc.

On July 07, 2009, the Company signed an agreement for acquisition of 51% Equity Stake of Dutch Lanka Trailer Manufacturers limited (DLT).. DLT has manufacturing facility in Sri Lanka and sells trailers in as many as 30 countries. Dutch Lanka engineering (P) Limited, 100% subsidiary of DLT in Sri Lanka, is engaged in repairs, maintenance and service business for trailers. DLT also has a subsidiary in OMAN which manufactures and sells trailers in Middle-East markets. Through its Joint Venture with TATA International Limited in India, it also manufactures & sells Trailers in India.

Highlights of Q1, 2009-10

For TRF Limited

Prashant Kumar
Co. Secretary

Financial Results for First Quarter- 2009-10

News Report

TRF posts 69% rise in Q1 net

TRF's 46th AGM Concludes Successfully