TRFIndustrials

TRF Limited

Industrial Products · ISIN INE391D01019 · BSE 505854 · NSE EQ · FV ₹10
Last price
₹219
+2.58%today
What this company does

TRF Limited operates in Industrial Products, part of the Industrials sector. It booked ₹26 cr of revenue in its latest quarter (Q1 FY27) and kept 7.2% of sales as profit.

Report boundary: It provides an overview of the operations of TRF Limited, highlighting our financial and non-financial About Us 2 performance.
In the report:
45out of 100
Equitytale Health Score
Mixed

Healthier than 45% of companies in Industrials, on all six measures of filed financials. Each measure is ranked against the 166–290 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
39

At close. Not part of the score.

Profitability & returns48

How much profit it earns on the money it employs

Balance sheet19

How much it owes, and whether earnings cover the interest

Cash quality77

Whether reported profit actually arrives as cash

Growth & consistency22

Whether sales and profit have grown, and how steadily

Valuation37

What today's price implies, against our models or its peers

Governance & risk86

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 11% vs last year
No promoter shares pledged
Watch-outs
! Thin 7.2% net margin
! Profit down 46% vs last year
! Carries high debt (D/E 1.5)
! Operating cash flow is negative

What if I invest in TRF?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 5% a year, it would become
₹15.50 lakh

The slider starts at 5%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹219 +2.58%
latest close · 2026-09-17
1-year return
+89.0%
52-wk low ₹9852-wk high ₹249
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio32.1High
LowAverageHigh
P/B ratio2.86Moderate
Below bookModerateHigh
EV / EBITDA12.4Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity8.9%Fair
WeakFairStrong ▸15%
Return on capital10.7%Fair
WeakFairStrong
Net margin7.2%Decent
ThinDecentStrong
EBITDA margin27.8%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity1.53High
LowModerateHigh ▸1
Interest cover1.4×Risky
RiskyOkayStrong ▸5×
Current ratio2.67Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹242 cr
Book value
₹77
EPS
₹1.71
latest quarter
Net debt
₹117 cr
owes more than its cash
Enterprise value
₹359 cr
EBITDA
₹29 cr
annualised
EBIT
₹26 cr
annualised
Operating margin
24.7%
Return on assets
2.2%
Earnings yield
3.12%
P/S
2.32
Sales / share
₹94.6
Tax rate
0.0%
Face value
₹10
Shares
1.1 cr
Working capital
₹182 cr
Current assets
₹291 cr
Current liabilities
₹109 cr
Delivery %
69.7%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹194₹374, midpoint ₹317

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹26 cr
Other Income₹6 cr
Total Income₹32 cr
Cost of Materials₹7 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-3 cr
Employee Benefit Expense₹13 cr
Finance Costs₹5 cr
Depreciation & Amortisation₹79.6 L
Other Expenses₹8 cr
Total Expenses₹30 cr
Profit before Tax₹2 cr
Tax Expense₹0 cr
Net Profit₹2 cr
Net margin on total income5.9%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹4 cr12.4%
Employee benefit expense₹13 cr40.4%
Finance costs₹5 cr14.3%
Depreciation & amortisation₹79.6 L2.5%
Other expenses₹8 cr24.5%
Profit for the period₹2 cr5.9%
Total income ₹32 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue20 cr19 cr26 cr
Total income24 cr23 cr32 cr
Expenses18 cr30 cr30 cr
Profit before tax6 cr-7 cr2 cr
Tax0.05 L-5.6 L0 cr
Net profit (owners' share)6 cr-7 cr2 cr
Net margin (owners' share, on revenue)28.9%-35.6%7.2%
EPS (₹)5.22-6.281.71
YoY (latest quarter): total income +17.4% · net profit -46.5%
Balance sheet & cash flow · as of Mar 2026
High debt
Total assets
₹349 cr
Shareholder equity
₹84 cr
parent shareholders
Total debt
₹129 cr
Cash
₹12 cr
Cash flow · H1 FY26
Operating
₹-93.2 L
Investing
₹-26.7 L
Financing
₹-15.1 L
Peer comparison
Industrial Products · by market value
CompanyPriceMarket capP/E
INDO-MIM Limited₹993₹48,086 cr50.1
Aditya Infotech Limited₹3,378₹39,814 cr70.0
Syrma SGS Technology Limited₹1,618₹31,158 cr77.9
Honeywell Automation India Limited₹33,915₹29,845 cr49.7
Kaynes Technology India Limited₹3,520₹23,596 cr104.5
Jyoti CNC Automation Limited₹981₹22,305 cr97.7
LMW Limited₹18,170₹19,406 cr87.4
Tega Industries Limited₹1,920₹14,425 cr
LLOYDS ENGINEERING WORKS LIMITED₹80₹11,801 cr42.7
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
trailing 12 months
Dividend / share (TTM)
Last dividend
₹4
ex 10 Jul 2012
ActionDetailEx-date
Dividend₹4 / share10 Jul 2012
Who owns it · 2026-06-30
No pledge
Promoter
34.1%
FII / Foreign
0.3%
DII / Domestic
0.0%
Retail / others
65.6%
Smart-money activity
Insider trades
BoughtTata Steel Limited · Promoters7.40 cr · ₹74.0 cr1 Mar 23
BoughtTata Steel Limited · Promoters16.50 cr · ₹165.0 cr8 Jun 22
BoughtTata Steel Limited · Promoters1.30 cr · ₹13.0 cr13 May 22
Bulk / block deals
BoughtPRAGYA EQUITIES PVT LTD · NSE82,915 @ ₹305.0219 Dec 25
SoldCHOLERA CHETAN GOPALDAS · NSE82,415 @ ₹30519 Dec 25
BoughtPRIYA MILAN SADARIYA · NSE75,850 @ ₹497.4724 Dec 24
Stake changes
BoughtTATA STEEL LIMITED · promoter→ 100.00% · 1.30 cr13 May 22
BoughtTata Steel Limited · promoter→ 100.00% · 1.20 cr7 May 22
SoldSundaram Mutual Fund→ 3.50% · 2.27 L27 Jan 17
What shareholders were asked to approve
1 proposal passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 30 Nov 2025
See the official result
1
Re-appointment of Mr. Umesh Kumar Singh (DIN: 08708676) as Managing Director and payment of remuneration
⚑ Passed only because promoters voted yes
Backed by 8% of shareholders other than promotersneeded 75%
25,012 votes for, 2.82 L against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 145 named members
owning 34.1% between them · as of 2026-06-30
Tata Steel Limited34.11%
Tata Industries Limited0.02%
00224239 Limitedno shares
137050 Limitedno shares
ABJA Investment Co. Pte. Ltd.no shares
Adityapur Toll Bridge Company Limitedno shares
Al Rimal Mining LLCno shares
Andal East Coal Company Pvt. Ltd.no shares

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.