TRF Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: July 1, 2025, 10:08 am

Market Cap	430 Cr.
Current Price	391
High / Low	616/285
Stock P/E	21.7
Book Value	323
Dividend Yield	0.00 %
ROCE	21.8 %
ROE	%
Face Value	10.0
PEG Ratio	0.14

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for TRF Ltd

Competitors of TRF Ltd

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Lakshmi Engineering & Warehousing Ltd	162 Cr.	2,427	3,576/1,805	193	325	0.51 %	5.64 %	3.87 %	100
HLE Glascoat Ltd	3,165 Cr.	464	524/218	67.7	67.3	0.24 %	12.2 %	10.7 %	2.00
Harish Textile Engineers Ltd	21.0 Cr.	63.0	103/48.0		23.3	0.00 %	10.8 %	2.98 %	10.0
Disa India Ltd	2,017 Cr.	13,870	20,900/13,201	37.1	1,834	1.44 %	29.0 %	21.2 %	10.0
Cranex Ltd	55.2 Cr.	84.0	190/77.0	28.3	36.8	0.00 %	10.3 %	11.2 %	10.0
Industry Average	11,877.86 Cr	1,651.14		68.85	296.44	0.30%	17.00%	14.08%	8.81

All Competitor Stocks of TRF Ltd

Quarterly Result

Metric	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Sales	49.48	41.39	53.60	43.21	38.89	33.91	39.27	28.77	38.00	37.62	32.70	23.31	27.11
Expenses	34.80	26.88	24.03	32.74	34.96	23.91	30.62	17.06	32.69	32.47	25.94	11.80	20.88
Operating Profit	14.68	14.51	29.57	10.47	3.93	10.00	8.65	11.71	5.31	5.15	6.76	11.51	6.23
OPM %	29.67%	35.06%	55.17%	24.23%	10.11%	29.49%	22.03%	40.70%	13.97%	13.69%	20.67%	49.38%	22.98%
Other Income	18.69	12.99	30.21	4.30	2.68	2.54	13.23	-4.76	6.11	3.87	3.64	4.01	6.53
Interest	6.20	8.01	5.90	5.34	5.50	3.29	2.97	3.10	4.50	3.47	3.75	3.60	3.23
Depreciation	0.54	0.52	0.53	0.48	0.48	0.50	0.57	0.55	0.62	0.57	0.63	0.65	0.87
Profit before tax	26.63	18.97	53.35	8.95	0.63	8.75	18.34	3.30	6.30	4.98	6.02	11.27	8.66
Tax %	-0.04%	0.00%	0.00%	0.00%	-1,065.08%	0.00%	0.00%	63.03%	0.00%	0.00%	0.00%	0.00%	59.35%
Net Profit	26.64	18.97	53.35	8.95	7.34	8.76	18.33	1.21	6.30	4.99	6.02	11.27	3.52
EPS in Rs	24.21	17.24	48.48	8.13	6.67	7.96	16.66	1.10	5.72	4.53	5.47	10.24	3.20

Last Updated: May 31, 2025, 7:28 am

Below is a detailed analysis of the quarterly data for TRF Ltd based on the most recent figures (Mar 2025) and their trends compared to the previous period:

For Sales, as of Mar 2025, the value is 27.11 Cr.. The value appears strong and on an upward trend. It has increased from 23.31 Cr. (Dec 2024) to 27.11 Cr., marking an increase of 3.80 Cr..
For Expenses, as of Mar 2025, the value is 20.88 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 11.80 Cr. (Dec 2024) to 20.88 Cr., marking an increase of 9.08 Cr..
For Operating Profit, as of Mar 2025, the value is 6.23 Cr.. The value appears to be declining and may need further review. It has decreased from 11.51 Cr. (Dec 2024) to 6.23 Cr., marking a decrease of 5.28 Cr..
For OPM %, as of Mar 2025, the value is 22.98%. The value appears to be declining and may need further review. It has decreased from 49.38% (Dec 2024) to 22.98%, marking a decrease of 26.40%.
For Other Income, as of Mar 2025, the value is 6.53 Cr.. The value appears strong and on an upward trend. It has increased from 4.01 Cr. (Dec 2024) to 6.53 Cr., marking an increase of 2.52 Cr..
For Interest, as of Mar 2025, the value is 3.23 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 3.60 Cr. (Dec 2024) to 3.23 Cr., marking a decrease of 0.37 Cr..
For Depreciation, as of Mar 2025, the value is 0.87 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 0.65 Cr. (Dec 2024) to 0.87 Cr., marking an increase of 0.22 Cr..
For Profit before tax, as of Mar 2025, the value is 8.66 Cr.. The value appears to be declining and may need further review. It has decreased from 11.27 Cr. (Dec 2024) to 8.66 Cr., marking a decrease of 2.61 Cr..
For Tax %, as of Mar 2025, the value is 59.35%. The value appears to be increasing, which may not be favorable. It has increased from 0.00% (Dec 2024) to 59.35%, marking an increase of 59.35%.
For Net Profit, as of Mar 2025, the value is 3.52 Cr.. The value appears to be declining and may need further review. It has decreased from 11.27 Cr. (Dec 2024) to 3.52 Cr., marking a decrease of 7.75 Cr..
For EPS in Rs, as of Mar 2025, the value is 3.20. The value appears to be declining and may need further review. It has decreased from 10.24 (Dec 2024) to 3.20, marking a decrease of 7.04.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 15, 2025, 4:57 am

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales	1,163	1,113	962	550	432	223	185	114	127	177	140	121
Expenses	1,162	1,197	946	585	575	314	339	151	131	119	104	91
Operating Profit	0	-84	16	-35	-143	-91	-154	-37	-4	58	36	29
OPM %	0%	-8%	2%	-6%	-33%	-41%	-83%	-33%	-3%	33%	25%	24%
Other Income	44	101	12	43	45	120	10	-15	14	50	17	18
Interest	59	58	57	48	49	61	37	38	31	25	14	14
Depreciation	12	14	10	6	5	3	3	3	2	2	2	3
Profit before tax	-27	-54	-39	-45	-152	-35	-185	-93	-23	82	37	31
Tax %	6%	16%	5%	-47%	-12%	0%	0%	0%	-0%	-8%	6%	17%
Net Profit	-28	-63	-41	-24	-134	-35	-185	-93	-23	89	35	26
EPS in Rs	-26.23	-59.05	-37.15	-21.90	-121.87	-31.41	-168.14	-84.61	-20.94	80.50	31.44	23.44
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	-125.00%	34.92%	41.46%	-458.33%	73.88%	-428.57%	49.73%	75.27%	486.96%	-60.67%	-25.71%
Change in YoY Net Profit Growth (%)	0.00%	159.92%	6.54%	-499.80%	532.21%	-502.45%	478.30%	25.54%	411.69%	-547.63%	34.96%

TRF Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	-20%
5 Years:	-8%
3 Years:	-2%
TTM:	-14%

Compounded Profit Growth
10 Years:	8%
5 Years:	16%
3 Years:	42%
TTM:	-32%

Stock Price CAGR
10 Years:	1%
5 Years:	39%
3 Years:	41%
1 Year:	-28%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	%

Last Updated: Unknown

Balance Sheet

Last Updated: May 13, 2025, 2:32 pm

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	11	11	11	11	11	11	11	11	11	11	11	11
Reserves	45	-27	-60	-92	-212	-238	-417	-508	-531	-412	-395	72
Borrowings	625	602	621	561	399	457	531	494	523	507	542	115
Other Liabilities	625	782	730	718	893	450	445	427	365	207	151	141
Total Liabilities	1,306	1,368	1,302	1,198	1,091	680	570	424	368	314	310	339
Fixed Assets	282	245	226	209	194	113	23	20	18	17	19	21
CWIP	0	0	0	1	1	1	0	0	0	0	0	1
Investments	0	0	18	18	19	28	0	1	1	62	66	20
Other Assets	1,024	1,122	1,058	970	877	539	547	404	349	235	225	298
Total Assets	1,306	1,368	1,302	1,198	1,091	680	570	424	368	314	310	339

Below is a detailed analysis of the balance sheet data for TRF Ltd based on the most recent figures (Mar 2025) and their trends compared to the previous period:

For Equity Capital, as of Mar 2025, the value is 11.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 11.00 Cr..
For Reserves, as of Mar 2025, the value is 72.00 Cr.. The value appears strong and on an upward trend. It has increased from -395.00 Cr. (Mar 2024) to 72.00 Cr., marking an increase of 467.00 Cr..
For Borrowings, as of Mar 2025, the value is 115.00 Cr.. The value appears to be improving (decreasing). However, Borrowings exceed Reserves, which may signal higher financial risk. It has decreased from 542.00 Cr. (Mar 2024) to 115.00 Cr., marking a decrease of 427.00 Cr..
For Other Liabilities, as of Mar 2025, the value is 141.00 Cr.. The value appears to be improving (decreasing). It has decreased from 151.00 Cr. (Mar 2024) to 141.00 Cr., marking a decrease of 10.00 Cr..
For Total Liabilities, as of Mar 2025, the value is 339.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 310.00 Cr. (Mar 2024) to 339.00 Cr., marking an increase of 29.00 Cr..
For Fixed Assets, as of Mar 2025, the value is 21.00 Cr.. The value appears strong and on an upward trend. It has increased from 19.00 Cr. (Mar 2024) to 21.00 Cr., marking an increase of 2.00 Cr..
For CWIP, as of Mar 2025, the value is 1.00 Cr.. The value appears strong and on an upward trend. It has increased from 0.00 Cr. (Mar 2024) to 1.00 Cr., marking an increase of 1.00 Cr..
For Investments, as of Mar 2025, the value is 20.00 Cr.. The value appears to be declining and may need further review. It has decreased from 66.00 Cr. (Mar 2024) to 20.00 Cr., marking a decrease of 46.00 Cr..
For Other Assets, as of Mar 2025, the value is 298.00 Cr.. The value appears strong and on an upward trend. It has increased from 225.00 Cr. (Mar 2024) to 298.00 Cr., marking an increase of 73.00 Cr..
For Total Assets, as of Mar 2025, the value is 339.00 Cr.. The value appears strong and on an upward trend. It has increased from 310.00 Cr. (Mar 2024) to 339.00 Cr., marking an increase of 29.00 Cr..

However, the Borrowings (115.00 Cr.) are higher than the Reserves (₹72.00 Cr.), which may signal higher financial risk.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Month		Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Cash from Operating Activity +	37	58	2	111	55	-107	-56	21	-38	83	34	94
Cash from Investing Activity +	39	47	4	2	25	134	1	61	6	-50	15	-111
Cash from Financing Activity +	-85	-88	-34	-109	-70	-11	64	-79	9	-30	0	-1
Net Cash Flow	-9	17	-28	3	10	16	10	2	-22	3	49	-18

Free Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	-625.00	-686.00	-605.00	-596.00	-542.00	-548.00	-685.00	-531.00	-527.00	-449.00	-506.00	-86.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	206	190	209	242	366	321	490	433	616	400	130	258
Inventory Days	154	104	143	148	243	130	355	434	554	245	229	130
Days Payable	204	162	220	243	459	401	1,051	1,569	2,396	1,473	1,378	1,193
Cash Conversion Cycle	156	132	132	146	150	50	-207	-701	-1,227	-828	-1,020	-806
Working Capital Days	91	100	77	90	65	146	-83	-81	-247	-207	-88	4
ROCE %	-5%	0%	-6%	3%	-0%	-30%	-5%	-83%	-58%		188%	38%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Promoters	34.12%	34.12%	34.12%	34.12%	34.12%	34.12%	34.12%	34.12%	34.12%	34.12%	34.12%	34.12%
FIIs	0.00%	0.00%	0.00%	0.22%	2.04%	3.27%	0.00%	0.00%	0.78%	0.72%	0.41%	0.46%
DIIs	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%
Government	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Public	65.85%	65.85%	65.86%	65.64%	63.80%	62.57%	65.85%	65.85%	65.07%	65.13%	65.44%	65.38%
No. of Shareholders	20,190	20,076	23,662	23,726	22,452	22,297	27,476	28,260	28,111	25,413	25,751	26,409

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	23.44	31.45	80.49	-20.94	-59.54
Diluted EPS (Rs.)	23.44	31.45	71.14	-20.94	-59.54
Cash EPS (Rs.)	25.73	33.48	82.32	-18.74	-82.12
Book Value[Excl.RevalReserv]/Share (Rs.)	75.85	-348.54	-2.74	-267.09	-246.16
Book Value[Incl.RevalReserv]/Share (Rs.)	75.85	-348.54	-2.74	-267.09	-246.16
Revenue From Operations / Share (Rs.)	109.72	127.18	160.94	115.53	103.55
PBDIT / Share (Rs.)	43.17	52.49	97.78	15.38	-30.02
PBIT / Share (Rs.)	40.88	50.46	95.95	13.19	-32.51
PBT / Share (Rs.)	28.11	37.86	73.46	-14.64	-59.51
Net Profit / Share (Rs.)	23.44	31.45	80.49	-20.94	-84.61
NP After MI And SOA / Share (Rs.)	23.44	31.45	80.49	-20.94	-84.61
PBDIT Margin (%)	39.35	41.26	60.75	13.31	-28.99
PBIT Margin (%)	37.26	39.67	59.62	11.41	-31.39
PBT Margin (%)	25.61	29.77	45.64	-12.66	-57.47
Net Profit Margin (%)	21.36	24.72	50.01	-18.12	-81.71
NP After MI And SOA Margin (%)	21.36	24.72	50.01	-18.12	-81.71
Return on Networth / Equity (%)	30.90	-9.02	-2937.26	0.00	0.00
Return on Capital Employeed (%)	20.59	35.72	82.77	-7.48	17.40
Return On Assets (%)	7.60	11.18	27.11	-6.26	-21.93
Long Term Debt / Equity (X)	1.38	-0.24	-27.80	-0.27	-0.15
Total Debt / Equity (X)	1.38	-0.31	-27.80	-1.01	-0.89
Asset Turnover Ratio (%)	0.37	0.43	0.51	0.34	0.23
Current Ratio (X)	2.23	1.74	1.41	0.52	0.55
Quick Ratio (X)	2.20	1.70	1.36	0.48	0.49
Inventory Turnover Ratio (X)	0.75	1.99	0.67	0.45	0.41
Interest Coverage Ratio (X)	3.38	4.17	4.35	0.55	-0.86
Interest Coverage Ratio (Post Tax) (X)	2.83	3.86	4.54	0.47	-0.94
Enterprise Value (Cr.)	310.26	490.88	237.72	422.78	315.47
EV / Net Operating Revenue (X)	2.57	3.51	1.34	3.33	2.77
EV / EBITDA (X)	6.53	8.50	2.21	24.97	-9.55
MarketCap / Net Operating Revenue (X)	3.21	3.17	0.99	1.18	0.82
Price / BV (X)	4.64	-1.16	-58.50	-0.50	-0.34
Price / Net Operating Revenue (X)	3.21	3.17	0.99	1.18	0.82
EarningsYield	0.06	0.07	0.50	-0.15	-0.99

After reviewing the key financial ratios for TRF Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 25, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 10.00.
For Basic EPS (Rs.), as of Mar 25, the value is 23.44. This value is within the healthy range. It has decreased from 31.45 (Mar 24) to 23.44, marking a decrease of 8.01.
For Diluted EPS (Rs.), as of Mar 25, the value is 23.44. This value is within the healthy range. It has decreased from 31.45 (Mar 24) to 23.44, marking a decrease of 8.01.
For Cash EPS (Rs.), as of Mar 25, the value is 25.73. This value is within the healthy range. It has decreased from 33.48 (Mar 24) to 25.73, marking a decrease of 7.75.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 75.85. It has increased from -348.54 (Mar 24) to 75.85, marking an increase of 424.39.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 75.85. It has increased from -348.54 (Mar 24) to 75.85, marking an increase of 424.39.
For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 109.72. It has decreased from 127.18 (Mar 24) to 109.72, marking a decrease of 17.46.
For PBDIT / Share (Rs.), as of Mar 25, the value is 43.17. This value is within the healthy range. It has decreased from 52.49 (Mar 24) to 43.17, marking a decrease of 9.32.
For PBIT / Share (Rs.), as of Mar 25, the value is 40.88. This value is within the healthy range. It has decreased from 50.46 (Mar 24) to 40.88, marking a decrease of 9.58.
For PBT / Share (Rs.), as of Mar 25, the value is 28.11. This value is within the healthy range. It has decreased from 37.86 (Mar 24) to 28.11, marking a decrease of 9.75.
For Net Profit / Share (Rs.), as of Mar 25, the value is 23.44. This value is within the healthy range. It has decreased from 31.45 (Mar 24) to 23.44, marking a decrease of 8.01.
For NP After MI And SOA / Share (Rs.), as of Mar 25, the value is 23.44. This value is within the healthy range. It has decreased from 31.45 (Mar 24) to 23.44, marking a decrease of 8.01.
For PBDIT Margin (%), as of Mar 25, the value is 39.35. This value is within the healthy range. It has decreased from 41.26 (Mar 24) to 39.35, marking a decrease of 1.91.
For PBIT Margin (%), as of Mar 25, the value is 37.26. This value exceeds the healthy maximum of 20. It has decreased from 39.67 (Mar 24) to 37.26, marking a decrease of 2.41.
For PBT Margin (%), as of Mar 25, the value is 25.61. This value is within the healthy range. It has decreased from 29.77 (Mar 24) to 25.61, marking a decrease of 4.16.
For Net Profit Margin (%), as of Mar 25, the value is 21.36. This value exceeds the healthy maximum of 10. It has decreased from 24.72 (Mar 24) to 21.36, marking a decrease of 3.36.
For NP After MI And SOA Margin (%), as of Mar 25, the value is 21.36. This value exceeds the healthy maximum of 20. It has decreased from 24.72 (Mar 24) to 21.36, marking a decrease of 3.36.
For Return on Networth / Equity (%), as of Mar 25, the value is 30.90. This value is within the healthy range. It has increased from -9.02 (Mar 24) to 30.90, marking an increase of 39.92.
For Return on Capital Employeed (%), as of Mar 25, the value is 20.59. This value is within the healthy range. It has decreased from 35.72 (Mar 24) to 20.59, marking a decrease of 15.13.
For Return On Assets (%), as of Mar 25, the value is 7.60. This value is within the healthy range. It has decreased from 11.18 (Mar 24) to 7.60, marking a decrease of 3.58.
For Long Term Debt / Equity (X), as of Mar 25, the value is 1.38. This value exceeds the healthy maximum of 1. It has increased from -0.24 (Mar 24) to 1.38, marking an increase of 1.62.
For Total Debt / Equity (X), as of Mar 25, the value is 1.38. This value exceeds the healthy maximum of 1. It has increased from -0.31 (Mar 24) to 1.38, marking an increase of 1.69.
For Asset Turnover Ratio (%), as of Mar 25, the value is 0.37. It has decreased from 0.43 (Mar 24) to 0.37, marking a decrease of 0.06.
For Current Ratio (X), as of Mar 25, the value is 2.23. This value is within the healthy range. It has increased from 1.74 (Mar 24) to 2.23, marking an increase of 0.49.
For Quick Ratio (X), as of Mar 25, the value is 2.20. This value exceeds the healthy maximum of 2. It has increased from 1.70 (Mar 24) to 2.20, marking an increase of 0.50.
For Inventory Turnover Ratio (X), as of Mar 25, the value is 0.75. This value is below the healthy minimum of 4. It has decreased from 1.99 (Mar 24) to 0.75, marking a decrease of 1.24.
For Interest Coverage Ratio (X), as of Mar 25, the value is 3.38. This value is within the healthy range. It has decreased from 4.17 (Mar 24) to 3.38, marking a decrease of 0.79.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 2.83. This value is below the healthy minimum of 3. It has decreased from 3.86 (Mar 24) to 2.83, marking a decrease of 1.03.
For Enterprise Value (Cr.), as of Mar 25, the value is 310.26. It has decreased from 490.88 (Mar 24) to 310.26, marking a decrease of 180.62.
For EV / Net Operating Revenue (X), as of Mar 25, the value is 2.57. This value is within the healthy range. It has decreased from 3.51 (Mar 24) to 2.57, marking a decrease of 0.94.
For EV / EBITDA (X), as of Mar 25, the value is 6.53. This value is within the healthy range. It has decreased from 8.50 (Mar 24) to 6.53, marking a decrease of 1.97.
For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 3.21. This value exceeds the healthy maximum of 3. It has increased from 3.17 (Mar 24) to 3.21, marking an increase of 0.04.
For Price / BV (X), as of Mar 25, the value is 4.64. This value exceeds the healthy maximum of 3. It has increased from -1.16 (Mar 24) to 4.64, marking an increase of 5.80.
For Price / Net Operating Revenue (X), as of Mar 25, the value is 3.21. This value exceeds the healthy maximum of 3. It has increased from 3.17 (Mar 24) to 3.21, marking an increase of 0.04.
For EarningsYield, as of Mar 25, the value is 0.06. This value is below the healthy minimum of 5. It has decreased from 0.07 (Mar 24) to 0.06, marking a decrease of 0.01.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of TRF Ltd as of July 1, 2025 is: 857.91

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of July 1, 2025, TRF Ltd is Undervalued by 119.41% compared to the current share price 391.00

Default values used*: Default value of 15% for ROE is used

Intrinsic Value of TRF Ltd as of July 1, 2025 is: 2,192.64

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of July 1, 2025, TRF Ltd is Undervalued by 460.78% compared to the current share price 391.00

Default values used*: Default value of 15% for ROE is used

Last 5 Year EPS CAGR: 155.58%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a low average Working Capital Days of -11.08, which is a positive sign. The stock has a low average Cash Conversion Cycle of -148.17, which is a positive sign.	The stock has a low average ROCE of 3.50%, which may not be favorable. The company has higher borrowings (498.08) compared to reserves (-231.25), which may suggest financial risk. The company has not shown consistent growth in sales (252.75) and profit (-41.92).

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in TRF Ltd:
1. Net Profit Margin: 21.36%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 20.59% (Industry Average ROCE: 17%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 30.9% (Industry Average ROE: 14.08%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 2.83
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 2.2
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 21.7 (Industry average Stock P/E: 68.85)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 1.38
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

TRF Ltd. is a Public Limited Listed company incorporated on 20/11/1962 and has its registered office in the State of Jharkand, India. Company's Corporate Identification Number(CIN) is L74210JH1962PLC000700 and registration number is 000700. Currently company belongs to the Industry of Engineering - Heavy. Company's Total Operating Revenue is Rs. 120.73 Cr. and Equity Capital is Rs. 11.00 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Engineering - Heavy	11, Station Road, Burmamines, Jamshedpur Jharkand 831007	comp_sec@trf.co.in http://www.trf.co.in

Management
Name	Position Held
Ms. Samita Shah	Chairperson (NonExe. & NonInd.Director)
Mr. Umesh Kumar Singh	Managing Director
Mr. Sandeep Bhattacharya	Non Exe.Non Ind.Director
Mr. Akshay Khullar	Non Exe.Non Ind.Director
Mrs. Ramya Hariharan	Independent Director
Mr. Krishnava Dutt	Independent Director
Dr. Sougata Ray	Independent Director
Dr. Pingali Venugopal	Independent Director

FAQ

What is the intrinsic value of TRF Ltd?

TRF Ltd's intrinsic value (as of 01 July 2025) is 857.91 — 119.41% higher the current market price of 391.00, indicating undervalued. Calculated using the PE ratio method, this valuation considers the company's 430 Cr. market cap, FY2025-2026 high/low of 616/285, reserves of 72 Cr, and liabilities of 339 Cr.

What is the Market Cap of TRF Ltd?

The Market Cap of TRF Ltd is 430 Cr..

What is the current Stock Price of TRF Ltd as on 01 July 2025?

The current stock price of TRF Ltd as on 01 July 2025 is 391.

What is the High / Low of TRF Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of TRF Ltd stocks is ₹616/285.

What is the Stock P/E of TRF Ltd?

The Stock P/E of TRF Ltd is 21.7.

What is the Book Value of TRF Ltd?

The Book Value of TRF Ltd is 323.

What is the Dividend Yield of TRF Ltd?

The Dividend Yield of TRF Ltd is 0.00 %.

What is the ROCE of TRF Ltd?

The ROCE of TRF Ltd is 21.8 %.

What is the ROE of TRF Ltd?

The ROE of TRF Ltd is %.

What is the Face Value of TRF Ltd?

The Face Value of TRF Ltd is 10.0.