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Last Updated on: 13 June, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of TRF Ltd

Basic Stock Data

Last Updated: June 12, 2024, 11:18 am

Market Cap 697 Cr.
Current Price 634
High / Low670/164
Stock P/E17.6
Book Value 35.5
Dividend Yield0.00 %
ROCE14.7 %
ROE%
Face Value 10.0
PEG Ratio0.09

Competitors of TRF Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
ATV Projects India Ltd 123 Cr. 23.129.5/9.0219.0 37.40.00 %2.59 %3.31 % 10.0
Bright Solar Ltd 21.4 Cr. 8.5512.5/4.65 11.80.00 %10.5 %11.2 % 10.0
Walchandnagar Industries Ltd 1,220 Cr. 220269/77.0 65.20.00 %1.29 %13.4 % 2.00
Sanghvi Movers Ltd 4,844 Cr. 1,1191,495/44425.8 2340.35 %23.8 %20.3 % 2.00
TD Power Systems Ltd (TDPS) 5,218 Cr. 334361/20644.1 45.20.15 %24.8 %18.1 % 2.00
Industry Average2,285.28 Cr340.9317.7878.720.10%12.60%13.26%5.20

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales60.0015.5120.0242.1249.4841.3953.6043.2138.8933.9139.2728.7738.00
Expenses61.0326.7024.3748.7234.8026.8824.0332.7434.9623.9130.6217.0632.69
Operating Profit-1.03-11.19-4.35-6.6014.6814.5129.5710.473.9310.008.6511.715.31
OPM %-1.72%-72.15%-21.73%-15.67%29.67%35.06%55.17%24.23%10.11%29.49%22.03%40.70%13.97%
Other Income8.710.06-1.980.6718.6912.9930.214.302.682.5413.23-4.766.11
Interest13.928.098.018.326.208.015.905.345.503.292.973.104.50
Depreciation0.660.650.620.600.540.520.530.480.480.500.570.550.62
Profit before tax-6.90-19.87-14.96-14.8526.6318.9753.358.950.638.7518.343.306.30
Tax %0.14%0.00%0.00%0.00%-0.04%0.00%0.00%0.00%-1,065.08%0.00%0.00%63.03%0.00%
Net Profit-6.89-19.87-14.96-14.8526.6418.9753.358.957.348.7618.331.216.30
EPS in Rs-6.26-18.06-13.59-13.4924.2117.2448.488.136.677.9616.661.105.72

Last Updated: June 9, 2024, 9:21 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 27, 2024, 6:14 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales1,1001,1631,113962550432223185114127177140
Expenses1,1291,1621,197946585575314339151131119104
Operating Profit-290-8416-35-143-91-154-37-45836
OPM %-3%0%-8%2%-6%-33%-41%-83%-33%-3%33%25%
Other Income84410112434512010-15145017
Interest555958574849613738312514
Depreciation1212141065333222
Profit before tax-88-27-54-39-45-152-35-185-93-238237
Tax %-4%-6%-16%-5%47%12%-0%-0%-0%0%-8%6%
Net Profit-91-28-63-41-24-134-35-185-93-238935
EPS in Rs-83.32-26.23-59.05-37.15-21.90-121.87-31.41-168.14-84.61-20.9480.5031.44
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)69.23%-125.00%34.92%41.46%-458.33%73.88%-428.57%49.73%75.27%486.96%-60.67%
Change in YoY Net Profit Growth (%)0.00%-194.23%159.92%6.54%-499.80%532.21%-502.45%478.30%25.54%411.69%-547.63%

Growth

Compounded Sales Growth
10 Years:-17%
5 Years:-16%
3 Years:-2%
TTM:-25%
Compounded Profit Growth
10 Years:11%
5 Years:21%
3 Years:35%
TTM:-55%
Stock Price CAGR
10 Years:15%
5 Years:36%
3 Years:85%
1 Year:263%
Return on Equity
10 Years:%
5 Years:%
3 Years:%
Last Year:%

Last Updated: May 2, 2024, 9:26 am

Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital11111111111111111111111111
Reserves1506645-27-60-92-212-238-417-508-531-41238
Preference Capital0000000250250256250489
Borrowings5035886256026215613992072812382731890
Other Liabilities562711625782730718893700695684615709199
Total Liabilities1,2261,3761,3061,3681,3021,1981,091680570424368327337
Fixed Assets2582682822452262091941132320181718
CWIP1300011100000
Investments3300181819280116297
Other Assets9651,1021,0241,1221,058970877539547404349248221
Total Assets1,2261,3761,3061,3681,3021,1981,091680570424368327337

Reserves and Borrowings Chart

TRF Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 62113758211155-107-5621-3883
Cash from Investing Activity -152-9394742251341616-50
Cash from Financing Activity 109-9-85-88-34-109-70-1164-799-30
Net Cash Flow19-7-917-2831016102-223

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-29.000.00-84.0016.00-35.00-143.00-341.00-404.00-293.00-254.00-431.0036.00

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

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days153206190209242366321490433616400211
Inventory Days91154104143148243130355434554245229
Days Payable1682041622202434594011,0511,5692,3961,4731,378
Cash Conversion Cycle7615613213214615050-207-701-1,227-828-938
Working Capital Days7391100779065146-83-81-247-207-1
ROCE %11%-5%0%-6%3%-0%-30%-5%-83%-58%188%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters34.12%34.12%34.12%34.12%34.12%34.12%34.12%34.12%34.12%34.12%34.12%34.12%
FIIs0.00%0.00%0.00%0.00%0.00%0.00%0.22%2.04%3.27%0.00%0.00%0.78%
DIIs0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.01%0.01%0.01%0.01%
Public65.85%65.85%65.85%65.85%65.85%65.86%65.64%63.80%62.57%65.85%65.85%65.07%
No. of Shareholders20,04820,80320,33120,19020,07623,66223,72622,45222,29727,47628,26028,111

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)31.4580.49-20.94-59.54-168.15
Diluted EPS (Rs.)31.4571.14-20.94-59.54-168.15
Cash EPS (Rs.)33.4882.32-18.74-82.12-165.14
Book Value[Excl.RevalReserv]/Share (Rs.)35.50-2.74-267.09-246.16-162.97
Book Value[Incl.RevalReserv]/Share (Rs.)35.50-2.74-267.09-246.16-162.97
Revenue From Operations / Share (Rs.)127.18160.94115.53103.55169.40
PBDIT / Share (Rs.)52.4997.7815.38-30.02-83.37
PBIT / Share (Rs.)50.4695.9513.19-32.51-86.37
PBT / Share (Rs.)37.8673.46-14.64-59.51-120.38
Net Profit / Share (Rs.)31.4580.49-20.94-84.61-168.15
NP After MI And SOA / Share (Rs.)31.4580.49-20.94-84.61-168.15
PBDIT Margin (%)41.2660.7513.31-28.99-49.21
PBIT Margin (%)39.6759.6211.41-31.39-50.98
PBT Margin (%)29.7745.64-12.66-57.47-71.06
Net Profit Margin (%)24.7250.01-18.12-81.71-99.26
NP After MI And SOA Margin (%)24.7250.01-18.12-81.71-99.26
Return on Networth / Equity (%)88.58-2937.260.000.000.00
Return on Capital Employeed (%)35.7282.77-7.4817.4078.08
Return On Assets (%)11.1827.11-6.26-21.93-32.45
Long Term Debt / Equity (X)2.41-27.80-0.27-0.15-0.20
Total Debt / Equity (X)3.05-27.80-1.01-0.89-1.49
Asset Turnover Ratio (%)0.430.510.340.230.31
Current Ratio (X)1.741.410.520.550.71
Quick Ratio (X)1.701.360.480.490.62
Inventory Turnover Ratio (X)1.990.670.450.410.59
Interest Coverage Ratio (X)4.174.350.55-0.86-2.45
Interest Coverage Ratio (Post Tax) (X)3.864.540.47-0.94-2.54
Enterprise Value (Cr.)490.88237.72422.78315.47251.30
EV / Net Operating Revenue (X)3.511.343.332.771.35
EV / EBITDA (X)8.502.2124.97-9.55-2.74
MarketCap / Net Operating Revenue (X)3.170.991.180.820.30
Price / BV (X)11.36-58.50-0.50-0.34-0.31
Price / Net Operating Revenue (X)3.170.991.180.820.30
EarningsYield0.070.50-0.15-0.99-3.26

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 95.59

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.

Overvalued: 84.92% compared to the current price 634

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

Intrinsic Value: 275.99

Calculation basis:

  • Fair 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 fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Overvalued: 56.47% compared to the current price ₹634

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

Last 5 Year EPS CAGR: 188.71%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a low average Working Capital Days of 1.92, which is a positive sign.
  2. The stock has a low average Cash Conversion Cycle of -152.75, which is a positive sign.
  1. The stock has a low average ROCE of 1.25%, which may not be favorable.
  2. The company has higher borrowings (124.58) compared to reserves (-196.50), which may suggest financial risk.
  3. The company has not shown consistent growth in sales (242.75) and profit (-51.83).

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: 24.72%
      • 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: 35.72% (Industry Average ROCE: 12.6%)
      • 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%: 88.58% (Industry Average ROE: 13.26%)
      • 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): 3.86
      • 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: 1.70
      • 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: 17.6 (Industry average Stock P/E: 17.78)
      • 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: 3.05
      • 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

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. 127.14 Cr. and Equity Capital is Rs. 11.00 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Engineering - Heavy11, Station Road, Jamshedpur Jharkand 831007comp_sec@trf.co.in
http://www.trf.co.in
Management
NamePosition Held
Mr. Avneesh GuptaChairman, Non Ind & Non Exe Director
Mr. Umesh Kumar SinghManaging Director
Mr. Sanjib NandaNon Exe.Non Ind.Director
Mr. Ranaveer SinhaIndependent Director
Mrs. Ramya HariharanIndependent Director
Mr. Krishnava Satyaki DuttIndependent Director
Dr. Ansuman DasIndependent Director

FAQ

What is the latest fair value of TRF Ltd?

The latest fair value of TRF Ltd is ₹95.59.

What is the Market Cap of TRF Ltd?

The Market Cap of TRF Ltd is 697 Cr..

What is the current Stock Price of TRF Ltd as on 13 June 2024?

The current stock price of TRF Ltd as on 13 June 2024 is ₹634.

What is the High / Low of TRF Ltd stocks in FY 2024?

In FY 2024, the High / Low of TRF Ltd stocks is 670/164.

What is the Stock P/E of TRF Ltd?

The Stock P/E of TRF Ltd is 17.6.

What is the Book Value of TRF Ltd?

The Book Value of TRF Ltd is 35.5.

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 14.7 %.

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.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in TRF Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE