Want to see IN:TRF full AI Analyst Report?
Top Page
TRF Limited.
(TRF)
Select Model
Select Model
Rating:44Neutral
Price Target:
₹243.00
▼(-19.43% Downside)
Action:Upgraded
Date:06/24/26
The score is held down primarily by weak and volatile financial performance, including a sharp FY2026 downturn (losses and declining revenue) and uneven cash generation despite some balance-sheet improvement. Technicals provide only moderate support (near-term strength but still below the 200DMA and negative MACD), while valuation remains challenged due to negative earnings and no provided dividend yield.
Positive Factors
Improving leverage trajectory
A falling debt-to-equity ratio to roughly 1.5x reflects a meaningful improvement in capital structure versus the most stressed years. Over 2-6 months this reduces refinancing and liquidity risk, increases balance-sheet resilience, and gives management more flexibility to fund projects or cushion cyclicality.
Negative Factors
High cyclicality and earnings volatility
Earnings and margins have fluctuated sharply across recent fiscal years, making profits highly cycle-dependent. This structural volatility complicates forecasting, raises the cost of capital, and increases the probability of profit reversals that can erode shareholder returns and hamper long-term strategic investments.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving leverage trajectory
A falling debt-to-equity ratio to roughly 1.5x reflects a meaningful improvement in capital structure versus the most stressed years. Over 2-6 months this reduces refinancing and liquidity risk, increases balance-sheet resilience, and gives management more flexibility to fund projects or cushion cyclicality.
Read all positive factors
TRF Limited. (TRF) vs. iShares MSCI India ETF (INDA)
Market Cap
₹2.58B
Dividend YieldN/A
Average Volume (3M)6.74K
Price to Earnings (P/E)―
Beta (1Y)1.86
Revenue Growth-29.63%
EPS Growth-117.34%
CountryIN
Employees422
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)-4.06
Shares Outstanding11,005,039
10 Day Avg. Volume2,842
30 Day Avg. Volume6,743
Financial Highlights & Ratios
PEG Ratio0.46
Price to Book (P/B)2.83
Price to Sales (P/S)2.81
P/FCF Ratio52.47
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
TRF Limited. Business Overview & Revenue Model
Company Description
TRF Limited undertakes turnkey projects of material handling in India. It operates in Products & Services and Project & Services segments. The company offers hydraulic cone and double roll crushers, load haul dumpers, roller screens, grab type shi...
How the Company Makes Money
TRF Limited primarily makes money by (1) executing engineering projects and supplying bulk material handling systems (revenues recognized from equipment/system supply and installation/commissioning under customer contracts), and (2) selling manufa...
TRF Limited. Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
46
Neutral
Cash Flow
40
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 850.32M | 1.21B | 1.40B | 1.77B | 1.27B |
| Gross Profit | 155.75M | 1.04B | 517.27M | 1.44B | 703.32M |
| EBITDA | 6.26M | 300.43M | 577.60M | 1.08B | 169.29M |
| Net Income | -44.70M | 257.92M | 346.04M | 885.79M | -230.42M |
Balance Sheet | |||||
| Total Assets | 3.49B | 3.39B | 3.10B | 3.27B | 3.68B |
| Cash, Cash Equivalents and Short-Term Investments | 2.38B | 2.12B | 1.37B | 834.68M | 194.82M |
| Total Debt | 1.30B | 1.15B | 1.19B | 848.14M | 2.96B |
| Total Liabilities | 2.64B | 2.56B | 2.70B | 3.05B | 6.62B |
| Stockholders Equity | 843.70M | 834.68M | 390.64M | 219.84M | -2.94B |
Cash Flow | |||||
| Free Cash Flow | 45.55M | 897.68M | 289.87M | 817.65M | -378.65M |
| Operating Cash Flow | 129.53M | 935.64M | 339.03M | 830.98M | -376.83M |
| Investing Cash Flow | -586.34M | -1.13B | 156.32M | -521.72M | 58.31M |
| Financing Cash Flow | -607.00K | -6.20M | 4.94M | -303.08M | 89.33M |
TRF Limited. Technical Analysis
Negative
301.60
Price Trends
240.87
Negative
246.24
Negative
279.98
Negative
Market Momentum
-1.29
Positive
48.52
Neutral
30.62
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TRF, the sentiment is Negative. The current price of 301.6 is above the 20-day moving average (MA) of 236.47, above the 50-day MA of 240.87, and above the 200-day MA of 279.98, indicating a bearish trend. The MACD of -1.29 indicates Positive momentum. The RSI at 48.52 is Neutral, neither overbought nor oversold. The STOCH value of 30.62 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:TRF.
TRF Limited. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ₹24.78B | 23.20 | ― | 0.63% | -1.21% | -5.31% | |
69 Neutral | ₹114.51B | 33.57 | ― | 0.41% | 3.08% | -54.36% | |
67 Neutral | ₹15.21B | 42.60 | ― | ― | 32.15% | 37.62% | |
65 Neutral | ₹34.05B | 44.30 | ― | 1.06% | -14.21% | -20.17% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹23.22B | 16.73 | ― | ― | 12.20% | 16.37% | |
44 Neutral | ₹2.58B | -57.88 | ― | ― | -29.63% | -117.34% |
* General Sector Average
IN:TRF
TRF Limited.
234.75
-147.10
-38.52%
IN:ELECON
Elecon Engineering Co. Ltd.
510.30
-114.34
-18.30%
IN:GALAPREC
Gala Precision Engineering Limited
1,187.05
283.80
31.42%
IN:PENIND
Pennar Industries Limited
172.05
-56.00
-24.56%
IN:PIXTRANS
PIX Transmissions Ltd
1,818.45
273.43
17.70%
IN:SHANTIGEAR
Shanthi Gears Limited
443.85
-59.93
-11.90%
TRF Limited. Corporate Events
TRF Limited Publishes FY26 Results Notices in National Dailies
May 13, 2026
TRF Limited has published its financial results for the quarter and full year ended 31 March 2026 in the Financial Express and Dainik Bhaskar, in line with Indian securities disclosure rules. The newspaper notices feature a QR code and web link di...
TRF Limited Publishes SEBI-Mandated Notice on Physical Share Transfer Window
Apr 22, 2026
TRF Limited has notified stock exchanges that it has published newspaper advertisements in Financial Express and Prabhat Khabar regarding a proposed transfer of shares under a Securities and Exchange Board of India framework for a special window t...
TRF Limited Closes Trading Window Ahead of FY 2026 Results
Mar 25, 2026
TRF Limited has announced that its trading window for dealing in the company’s securities is closed from March 25, 2026, in line with SEBI’s Prohibition of Insider Trading Regulations and its own code of conduct. The blackout period wi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.