IPO Plus

₹207.16

▲ +9.3 +4.70%

As of 26 Oct 2026 · delayed

NSE Listed · Capital Goods-Non Electrical Equipment

TRF Limited (TRF)

Volume: 18,602Avg Vol 1W: 14,034Avg Vol 1M: 41,02552W Range:₹190₹349.9
Market Cap₹228 Cr
Current Price₹207.16
Previous Close₹197.86
High / Low (52w)₹349.9 / ₹190
Volume18,602
Avg Vol (1W)14,034
Avg Vol (1M)41,025
Stock P/E55.39
Book Value₹81.27
Dividend Yield0%
ROE460.61%
ROA14.49%
Revenue (TTM)—
Revenue Growth-13.74%
Profit Margin49.93%
Total Debt₹40 Cr
Shares Outstanding1 Cr
Face Value₹10
EPS (TTM)₹3.74
P/B2.55
Debt / Equity0.3
50 DMA₹218.84
200 DMA₹242.64
Day change+4.70%
Price Chart
₹207.16▼ 39.78% · 1Y
₹362₹1923.4L
2025-10-27
2026-10-26

20-day avg volume: 44K shares

Pros
  • Healthy return on equity of 460.6%.
  • Company is almost debt-free.
  • Revenue grew 38% YoY.
  • Net profit is growing year over year.
Cons
  • Stock trades at a high P/E of 55.
Quarterly Results
MetricDec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026Sept 2026
Revenue₹23 Cr₹27 Cr₹23 Cr₹22 Cr₹20 Cr₹19 Cr₹26 Cr₹36 Cr
EBITDA₹15 Cr₹12 Cr₹6 Cr₹9 Cr₹10 Cr₹-3 Cr₹6 Cr₹8 Cr
Net Profit₹11 Cr₹4 Cr₹4 Cr₹-7 Cr₹6 Cr₹-7 Cr₹2 Cr₹50 Cr
EPS————————
Profit & Loss (Annual)
MetricMar 2025Jun 2025Sept 2025Dec 2025Mar 2026Mar 2026Jun 2026Sept 2026
Revenue₹139 Cr₹23 Cr₹22 Cr₹20 Cr₹19 Cr₹101 Cr₹26 Cr₹36 Cr
EBITDA₹45 Cr₹6 Cr₹9 Cr₹10 Cr₹-2 Cr₹22 Cr₹7 Cr₹8 Cr
Net Profit₹26 Cr₹3 Cr₹-7 Cr₹12 Cr₹-6 Cr₹-4 Cr₹1 Cr₹3 Cr
EPS23.44————-4.06——
Balance Sheet
MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets₹681 Cr₹570 Cr₹424 Cr₹368 Cr₹314 Cr₹310 Cr₹339 Cr₹349 Cr
Total Liabilities₹681 Cr₹750 Cr₹695 Cr₹662 Cr₹292 Cr₹270 Cr₹256 Cr₹264 Cr
Equity₹-1 Cr₹-179 Cr₹-271 Cr₹-294 Cr₹22 Cr₹39 Cr₹83 Cr₹84 Cr
Total Debt————————
Cash Flow
MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating₹-107 Cr₹-50 Cr₹20 Cr₹-34 Cr₹71 Cr₹40 Cr₹96 Cr₹1 Cr
Investing₹134 Cr₹20 Cr₹60 Cr₹6 Cr₹-52 Cr₹16 Cr₹-113 Cr₹-45 Cr
Financing₹-11 Cr₹64 Cr₹-79 Cr₹9 Cr₹-30 Cr₹0 Cr₹-1 Cr₹-1 Cr
Free Cash Flow₹-107 Cr₹-50 Cr₹20 Cr₹-34 Cr₹71 Cr₹40 Cr₹96 Cr₹1 Cr
Shareholding
Promoter 34.12% Institutions 0.28% Public 65.6%
Efficiency & Working Capital
ROCE9.2%
Interest Coverage1.3
Dividend Payout—
Debtor Days107 d
Inventory Days48 d
Payable Days144 d
Cash Conversion Cycle11 d
Working Capital Days156 d
Shareholding Details

As of 2026-09-30

Promoter34.1%
FII0.3%
DII0%
Institutions0.3%
Public65.6%
Promoter Pledge0%
No. of Shareholders25,111
Shareholding Pattern

Quarterly — figures in %. Latest 12 quarters.

PeriodDec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026Sept 2026
Promoters34.1%34.1%34.1%34.1%34.1%34.1%34.1%34.1%34.1%34.1%34.1%34.1%
FIIs0%0.8%0.7%0.4%0.5%0.5%0.7%0.5%0.5%0.5%0.3%0.3%
DIIs0%0%0%0%0%0%0%0%0%0%0%0%
Public65.9%65.1%65.1%65.4%65.4%65.4%65.2%65.4%65.3%65.4%65.5%65.6%
Promoter Pledge0%0%0%0%0%0%0%0%0%0%0%0%
No. of Shareholders28,26028,11125,41325,75126,40926,54426,39926,63026,39825,76525,50925,111
Returns History (ROE / ROCE / ROA)
PeriodROEROCEROAP/E
202603————
Major Shareholders (>1%)
NameCategoryStakeShares
Tata Steel LimitedShareholding of Promoter and Promoter Group34.1%37,53,275
Roopa Corporate Services Pvt LtdPublic Shareholding2.8%3,12,664
Guttikonda Vara LakshmiPublic Shareholding2.1%2,32,938
Litton System IncPublic Shareholding2%2,17,500
Chetan Gopaldas CholeraPublic Shareholding1.5%1,59,687
Pragya Equities Pvt LtdPublic Shareholding1.2%1,26,665
Tata Industries LimitedShareholding of Promoter and Promoter Group0%1,960
Abja Investment Co. Pte. Ltd.Shareholding of Promoter and Promoter Group0%0
Tata Steel Utilities And Infrastructure Services LimitedShareholding of Promoter and Promoter Group0%0
Haldia Water Management LimitedShareholding of Promoter and Promoter Group0%0
Tata Steel Global Capability Centre Limited (formerly Tata Steel Business Delivery Centre LtdShareholding of Promoter and Promoter Group0%0
Tata Steel Special Economic Zone LimitedShareholding of Promoter and Promoter Group0%0
The Tata Pigments LimitedShareholding of Promoter and Promoter Group0%0
Adityapur Toll Bridge Company LimitedShareholding of Promoter and Promoter Group0%0
Mohar Export Services Pvt. LtdShareholding of Promoter and Promoter Group0%0
Rujuvalika Investments LimitedShareholding of Promoter and Promoter Group0%0
Tata Korf Engineering Services LtdShareholding of Promoter and Promoter Group0%0
Neelachal Ispat Nigam LimitedShareholding of Promoter and Promoter Group0%0
T Steel Holdings Pte. Ltd.Shareholding of Promoter and Promoter Group0%0
T S Global Holdings Pte Ltd.Shareholding of Promoter and Promoter Group0%0
Orchid Netherlands (no.1) B.v.Shareholding of Promoter and Promoter Group0%0
The Siam Industrial Wire Company Ltd.Shareholding of Promoter and Promoter Group0%0
Tsn Wires Co., Ltd.Shareholding of Promoter and Promoter Group0%0
Tata Steel Europe LimitedShareholding of Promoter and Promoter Group0%0
Apollo Metals LimitedShareholding of Promoter and Promoter Group0%0
Board of Directors
NameDesignationYear
Samita Jigar ShahChairman(Non Exe)&Dir(Non-Ind)2026
UMESH KUMAR SINGHExecutive Director & MD2026
Akshay KhullarNon-Exec & Non-Independent Dir2026
Sandeep BhattacharyaNon-Exec & Non-Independent Dir2026
Ramya HariharanIndependent Director2026
Krishnava DuttIndependent Director2026
Venugopal PingaliIndependent Director2026
Sougata RayIndependent Director2026
Avishek GhoshCompany Sec. & Compli. Officer2026
Segments — Product
SegmentRevenueShare
Products and services₹80 Cr93.8%
Projects and services₹5 Cr6.2%
Capital Structure (₹ Cr)
YearFace ValueAuthorisedIssuedPaid-up
2026₹10301111
Corporate Actions
TypeDateValueRemark
forthcoming2026-07-16Board Meetings—
Related-Party Transactions (₹ Cr)
YearSubsidiariesAssociatesJVKMPOthersTotal
20260002314316
20260000204204
202600021921
Substantial Acquisitions (SAST)

1 disclosure(s)

Pref. Allotment07/05/2022 · —
Company Information
Incorporated1962
ChairmanSamita Jigar Shah
AuditorPrice Waterhouse & Co Chartered Accountants LLP
Investor Email[email protected]
🌐 www.trf.co.in ↗

📍 11 Station Road, Burma Mines, Jamshedpur, Jharkhand, 831007

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