I was honored to assume the role of Managing Director in May 2024. Drawing from my 33 years with TRL Krosaki, my aim as the MD is to build upon the remarkable progress made to strengthen our capabilities and offerings, thereby expanding opportunities and value for our customers, our shareholders and our people. Since taking over, I have connected with many stakeholders, visiting customers and meeting teams across India and abroad. These interactions have inspired me to guide the Company towards a future-ready sustainable organization.
Global business dynamics are shaped by geopolitical shifts, technological advancement, and evolving consumer behavior-and the refractories industry is no exception. In addition, we face raw material disruptions and domestic market pressures. The year 2024-25 was, therefore, marked by challenges and uncertainty.
Against such a challenging business scenario, it is with immense pleasure, I would like to inform you that, in 2024- 25, we have not only met but exceeded our Annual Business Plan targets-achieving the highest ever revenue and profit in the company's history. This success was driven by operational excellence, cost optimization, and strategic market expansion. I dedicate the success to the remarkable demonstration of our team's resilience, agility, unwavering commitment, unconditional support from our shareholders and guidance from our Board.
By leveraging the global Krosaki network, we strengthened our presence in Europe, North America, and Southeast Asia. We expanded our customer base in the Copper and Steel industries abroad with value-added DBMC and Dolomite products. Business in North America grew significantly, while Africa and Southeast Asia saw a 30% year-on-year increase. Flow Control product revenue rose by 12%, driven by growth in Europe and North America. Strategic initiatives in Dolomite refractories opened new opportunities with major steel producers in Brazil and Mexico, paving the way for sustainable global growth.
In FY 2024-25, the company remained focused on sustainable, value-added solutions to meet customer needs. This commitment earned us repeat contracts and entry into new business segments. We achieved key milestones in product performance, backed by excellent site services. Superior results in Blast Furnace Trough, Torpedo Ladle, RH Snorkel, Slide Gate, Converter, and AG Refractories reinforced our leadership in serving the Iron & Steel industry.
Despite challenges affecting domestic stainless-steel production, we maintained business dominance across key customers, outperforming competition in India. Similarly, in the Cement sector where we are planning to expand our share of business, we have been able to secure orders for Cement Rotary Kilns for supply from Gujarat Operations.
One of the business segments where we are making significant strides is the MSME and Channel Business Sector. Business from retail sales in MSME segment has achieved all time highest sales of Rs. 431 Cr this year.
On the operations front, we have completed the Phase II expansion of Taphole Clay Plant looking at the future demands. The capacity expansion of our state-of-the-art RH Snorkel plant has been completed. Going forward, we are setting up an exclusive BoF refractories plant and a green field project at Gujarat to manufacture High Alumina Refractories. These facilities will help us strengthen and consolidate our position in BoF segment of Iron & Steel industry and the cement industry respectively.
On the ESG front, our performance continues to inspire us. FY 2024—25 marked our fifth consecutive year with zero safety incidents. We reduced our carbon footprint by -2004 through a full switch to natural gas, cleaner fuel and increased use of recycled refractories - advancing our circular economic goals. We have been recognized as the Best Safety Performer by eminent customers like Tata Steel, JSW Steel, SAIL,etc. for our safety practices at customer sites. People care remains central to our decisions, with several initiatives launched to boost employee motivation and quality of life.
During the year, in line with our objective to transform TRL Krosaki to a future ready and sustainable Company, we have defined the following four focused agenda in addition to its continuous thrust on excellence in operations and technical services,
Automation & Digital Transformation are embedded across internal processes and customer operations - ensuring alignment with evolving customer needs. Internally, key business processes in functions such as operations, sales, technology, safety, environment, and services have been digitized to enhance efficiency and responsiveness. On the customer front, advanced digital initiatives like online erosion measurement in BF Runner, condition monitoring of Coke Oven, remote wrecking for BF, and robotic sampling for BOF temperature and 02 analysis are actively deployed. These innovations significantly improve safety, productivity, and quality of work across industrial environments.
