TRFIndustrials

TRF Limited

Industrial Products · ISIN INE391D01019 · BSE 505854 · NSE EQ · FV ₹10
Last price
₹199
+1.18%today
What this company does

TRF Limited operates in Industrial Products, part of the Industrials sector. It booked ₹36 cr of revenue in its latest quarter (Q2 FY27) and kept 139.8% 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:
68out of 100
Equitytale Health Score
Solid

Healthier than 68% of companies in Industrials, on all six measures of filed financials. Each measure is ranked against the 162–284 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)
43

At close. Not part of the score.

Profitability & returns99

How much profit it earns on the money it employs · highest in its sector on what we could measure

Balance sheet40

How much it owes, and whether earnings cover the interest

Cash quality76

Whether reported profit actually arrives as cash

Growth & consistency22

Whether sales and profit have grown, and how steadily

Valuation77

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
✓ Strong 140% net margin
✓ Sales up 61% vs last year
✓ No promoter shares pledged
✓ Strong 225% return on equity
Watch-outs
! 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 We do not publish price targets or predict returns.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
₹199▲ +1.18%
latest close · 2026-11-04
1-year return
+52.5%
52-wk low ₹10652-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 ratio1.1Low
LowAverageHigh
P/B ratio2.45Moderate
Below bookModerateHigh
EV / EBITDA1.6Low
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity224.9%Strong
WeakFairStrong ▸15%
Return on capital86.5%Strong
WeakFairStrong
Net margin139.8%Strong
ThinDecentStrong
EBITDA margin153.6%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity1.53High
LowModerateHigh ▸1
Interest cover12.0×Strong
RiskyOkayStrong ▸5×
Current ratio2.98Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹219 cr
Book value
₹81
EPS
₹45.30
latest quarter
Net debt
₹134 cr
owes more than its cash
Enterprise value
₹353 cr
EBITDA
₹221 cr
annualised
EBIT
₹218 cr
annualised
Operating margin
151.3%
Return on assets
57.6%
Earnings yield
91.00%
P/S
1.52
Sales / share
₹130.7
Tax rate
0.1%
Face value
₹10
Shares
1.1 cr
Working capital
₹193 cr
Current assets
₹291 cr
Current liabilities
₹97 cr
Delivery %
58.0%
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 2026-11-04.

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 ₹179–₹336, midpoint ₹257

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 · Q2 FY27 (consolidated)
Revenue from Operations₹36 cr
Other Income₹4 cr
Total Income₹40 cr
Cost of Materials₹10 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹1 cr
Employee Benefit Expense₹13 cr
Finance Costs₹5 cr
Depreciation & Amortisation₹80.7 L
Other Expenses₹7 cr
Total Expenses₹37 cr
Exceptional Items₹47 cr
Profit before Tax₹50 cr
Tax Expense₹3.6 L
Net Profit₹50 cr
Net margin on total income124.2%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹12 cr13.7%
Employee benefit expense₹13 cr14.5%
Finance costs₹5 cr5.2%
Depreciation & amortisation₹80.7 L0.9%
Other expenses₹7 cr8.1%
Tax expense₹3.6 L0.0%
Profit for the period₹50 cr57.5%
Total income ₹40 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue19 cr26 cr36 cr
Total income23 cr32 cr40 cr
Expenses30 cr30 cr37 cr
Profit before tax-7 cr2 cr50 cr
Tax-5.6 L0 cr3.6 L
Net profit (owners' share)-7 cr2 cr50 cr
Net margin (owners' share, on revenue)-35.6%7.2%139.8%
EPS (₹)-6.281.7145.30
YoY (latest quarter): total income +50.4% · net profit —
Balance sheet & cash flow · as of Sep 2026
High debt
Total assets
₹349 cr
Shareholder equity
₹89 cr
parent shareholders
Total debt
₹137 cr
Cash
₹3 cr
Cash flow · H1 FY27
Operating
₹-27 cr
Investing
₹19 cr
Financing
₹-29.6 L
Peer comparison
Industrial Products · by market value
CompanyPriceMarket capP/E
INDO-MIM Limited₹1,204₹58,282 cr60.7
Aditya Infotech Limited₹3,881₹45,739 cr80.4
Syrma SGS Technology Limited₹1,491₹28,718 cr61.3
Honeywell Automation India Limited₹29,070₹25,582 cr48.1
Jyoti CNC Automation Limited₹967₹21,999 cr75.8
Kaynes Technology India Limited₹3,239₹21,713 cr96.2
LMW Limited₹16,927₹18,078 cr63.5
Tega Industries Limited₹1,700₹12,769 cr—
LLOYDS ENGINEERING WORKS LIMITED₹80₹12,353 cr52.4
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 · 2026-09-30
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
BoughtCounter Cyclical Investments Pvt Ltd (PMS) through its clients→ 5.26% · 11,9608 Oct 26
BoughtCounter Cyclical Investments Private Limited→ 5.15% · 13,7675 Oct 26
BoughtCounter Cyclical Investment Private Ltd→ 5.02% · 3,9828 Sep 26
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 — 148 named members
owning 34.1% between them · as of 2026-09-30
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.