TRF LimitedTRFCorporate

Engineering Latest results: Sep 2026 15 quarters of data

₹232.40

MCap ₹256 Cr · P/E 25.5

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AI-assisted data: figures and text on this page are extracted from public quarterly filings with AI assistance, checked automatically and overseen by our editorial team (human in the loop). They may still contain errors or omissions. Verify critical numbers against official company / SEBI / NSE / BSE filings before making any decision. Educational information only, not financial advice.

₹36 Cr

Sales · Sep 2026

+60.9% YoY

₹5 Cr

Operating Profit · Sep 2026

-18.3% YoY

13.5%

OPM % · Sep 2026

-49.2% YoY

₹3 Cr

Net Profit · Sep 2026

+152.2% YoY

₹3.16

EPS · Sep 2026

+152.1% YoY

📝 TRF Limited — results explained

Quarter ended September 2026 (Q2 FY27)

TRF Limited reported revenue of ₹36 crore for the quarter ended September 2026 (Q2 FY27), up 60.9% from ₹22 crore in the same quarter last year, and up 38.1% sequentially over the June 2026 quarter.

The company swung to a net profit of ₹3 crore from a net loss of ₹7 crore a year earlier. Earnings per share (EPS) came in at ₹3.16.

Operating profit stood at ₹5 crore — an operating margin (OPM) of 13.5%, compared with 26.6% in the year-ago quarter.

Full year and trailing twelve months

For the full year FY26, TRF Limited posted revenue of ₹85 crore, a decline of 29.6% over FY25, with a net profit of ₹2 crore (down 92.4% year-on-year).

On a trailing-twelve-month (TTM) basis, revenue stands at ₹101 crore with a net profit of ₹10 crore.

Valuation snapshot

At the current price of ₹232.40, TRF has a market capitalisation of ₹256 crore and a trailing P/E of about 25.5.

Within the Engineering industry, it is the 25th-largest of the 57 companies we track by market value.

Shareholding pattern

As of Jun 2026, promoters held 34.12%, foreign institutional investors (FIIs) 0.30%, domestic institutional investors (DIIs) 0.02%, the government 0.01%, public shareholders 65.54% of TRF Limited.

📈 Share price & events

📊 Quarterly trend

₹ crore · OPM % on right axis

🎯 Key metrics

price-linked ratios use the latest close

Valuation

Market Cap ?

₹256 Cr

Current Price ?

₹232.4

P/E ?

25.50below ind

Industry P/E ?

35.10

P/B ?

2.86

P/S ?

2.53

P/FCF ?

947.19

Enterprise Value ?

₹393 Cr

EV/EBITDA ?

52.19

PEG ?

N/A

Earnings Yield ?

1.1%

Dividend Yield ?

0.00%

Profitability & Returns

Sales (TTM) ?

₹101 Cr

OPM ?

7.4%

Profit after tax (TTM) ?

₹10 Cr

EPS (TTM) ?

₹9.11

ROCE ?

10.9%

ROE ?

11.2%

ROA ?

2.9%

Growth

Sales — latest qtr ?

₹36 Cr

PAT — latest qtr ?

₹3 Cr

YoY qtr sales growth ?

60.9%

YoY qtr profit growth ?

152.2%

Sales growth (3y) ?

-22%

Sales growth (5y) ?

-6%

Profit growth (3y) ?

-55%

Profit growth (5y) ?

16%

Financial Health

Debt ?

₹138 Cr

Debt to Equity ?

1.54

Interest Coverage ?

0.5

Current Ratio ?

N/A

Ownership

Promoter holding ?

34.12%

Change in promoter holding ?

0.00%

Pledged percentage ?

N/A

Market

Return 3 months ?

-3.9%

Return 6 months ?

-13.9%

🗓️ Quarterly results (15 quarters · ₹ Cr)

same fiscal quarter as Sep bestweakest per row · for costs (interest, NPAs) low is best Highlight

Metric	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026	YoY %	QoQ %
Sales	39	34	39	29	38	38	33	23	27	23	22	20	19	26	36	+60.9%	+38.1%
Operating Profit	4	10	9	12	4	5	8	11	5	4	6	7	-6	2	5	-18.3%	+205.3%
Other Income	8	1	11	3	5	3	3	3	6	3	4	4	4	6	4	+17.4%	-28.9%
Interest	5	3	3	3	4	3	4	4	3	3	4	4	4	5	5	+8.6%	-0.7%
Depreciation	0	0	1	1	1	1	1	1	1	1	1	1	1	1	1	+14.4%	+1.3%
Profit Before Tax	7	7	16	19	4	4	6	10	7	3	-7	12	-6	1	3	+152.2%	+200.0%
Net Profit	13	7	16	19	4	4	6	10	7	3	-7	12	-6	1	3	+152.2%	+200.0%
EPS	12.11	6.48	14.98	17.14	3.75	3.62	5.77	9.46	6.26	3.08	-6.06	10.62	-5.73	1.05	3.16	+152.1%	+201.0%
OPM %	10.8%	28.7%	23.2%	42.1%	10.8%	13.5%	24.1%	49.3%	18.8%	16.5%	26.6%	34.4%	-29.6%	6.1%	13.5%	-49.2%	+121.3%

📆 Annual results (₹ Cr, FY = Apr–Mar)

Metric	FY25	FY26	TTM	YoY %
Sales	₹121 Cr	₹85 Cr	₹101 Cr	-29.6%
Operating Profit	₹30 Cr	₹11 Cr	₹8 Cr	-63.1%
OPM %	24.46%	12.81%	7.44%	-47.6%
NPM %	22.88%	2.48%	9.90%	-89.2%
Other Income	₹15 Cr	₹14 Cr	₹18 Cr	-1.3%
Depreciation	₹3 Cr	₹3 Cr	₹3 Cr	+15.4%
Interest	₹14 Cr	₹15 Cr	₹17 Cr	+5.3%
EBIT	₹27 Cr	₹8 Cr	₹4 Cr	-70.4%
PBT	₹28 Cr	₹2 Cr	₹10 Cr	-92.4%
Tax	—	—	—	—
Net Profit	₹28 Cr	₹2 Cr	₹10 Cr	-92.4%
EPS	₹25.11	₹1.91	₹9.10	-92.4%
Material Cost	₹7 Cr	₹11 Cr	₹26 Cr	+60.1%
Employee Cost	₹61 Cr	₹57 Cr	₹55 Cr	-6.0%
Extraordinary Items	—	₹-6 Cr	₹5 Cr	—

🏛️ Balance Sheet (latest 5 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026	% Chg
Equity Capital	11.00	11.00	11.00	11.00	11	+0.0%
Reserves	-414.53	-395.44	-367.61	73.85	78	+6.1%
Borrowings	507.42	542.01	554.22	129.65	138	+6.1%
Other Liabilities	167.66	148.39	133.74	134.28	122	-9.2%
Total Liabilities	271.55	305.96	331.35	348.78	349	+0.0%
Fixed Assets	17.17	19.44	20.61	25.68	26	+1.9%
CWIP	0.00	0.00	0.94	2.30	2	-6.1%
Investments	116.98	128.15	82.45	233.11	213	-8.5%
Other Assets	137.40	158.37	227.35	87.69	107	+22.3%
Total Assets	271.55	305.96	331.35	348.78	349	+0.0%

📦 Working Capital (latest 1 periods)

Metric	Sep 2026	% Chg
Inventories	15	—
Trade Receivables	41	—
Trade Payables	34	—

💧 Cash Flow (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Cash from Operating Activity	69.77	7.97	94.68	8.67	-90.8%
Cash from Investing Activity	-56.59	-3.09	-93.62	-9.61	+89.7%
Cash from Financing Activity	-11.62	-0.98	-0.62	-0.59	+4.8%
Net Cash Flow	1.57	3.90	0.44	-1.54	-450.0%
Free Cash Flow	68.53	3.41	90.88	0.27	-99.7%
CFO/OP	93%	22%	330%	80%	-75.8%

💧 Half-year Cash Flow (latest 1 periods)

Metric	Sep 2026	% Chg
Cash from Operating Activity	-26	—
Cash from Investing Activity	25	—
Cash from Financing Activity	-0	—
Net Cash Flow	-2	—

➗ Ratios (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Debtor Days	129.80	258.34	93.12	107.44	+15.4%
Inventory Days	228.81	129.50	—	657.82	—
Days Payable	1,378.16	1,050.07	—	1,972.88	—
Cash Conversion Cycle	-1,019.54	-662.23	93.12	-1,207.61	-1396.8%
Working Capital Days	-85.02	-61.78	-174.99	732.83	+518.8%
ROCE %	186.25%	36.31%	20.06%	10.90%	-45.7%

👥 Shareholding (latest 5 periods)

Metric	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	% Chg
Promoters	34.12%	34.12%	34.12%	34.12%	34.12%	+0.0%
FIIs	0.67%	0.50%	0.49%	0.49%	0.30%	-38.8%
DIIs	0.02%	0.02%	0.03%	0.02%	0.02%	+0.0%
Government	0.01%	0.01%	0.01%	0.01%	0.01%	+0.0%
Public	65.17%	65.36%	65.35%	65.36%	65.54%	+0.3%
No. of Shareholders	26,399	26,630	26,398	25,765	25,509	-1.0%

⚖️ Peer comparison

Industry: Engineering · top 25 of 57 companies · full page →

#	Company	CMP	MCap (Cr)	P/E	Sales TTM	NP TTM	OPM%	NPM%	Sales YoY%	NP YoY%	Qtr Rev Δ%	Qtr NP Δ%
1	MTARTECH Mtar Technologies	₹7,039.50	21,653	161.6	1,080	134	21.1%	12.4%	29.7%	77.1%	130.4%	364.5%
2	AZAD Azad Engineering	₹2,808.60	18,138	130.7	639	139	37.6%	21.8%	31.9%	54.2%	25.9%	19.5%
3	ACE Action Construction	₹1,131.00	13,462	30.8	3,414	437	15.5%	12.8%	-1.4%	1.5%	20.5%	22.3%
4	LLOYDSENGG LLOYDS ENGINEERING	₹81.61	12,646	80.5	1,234	144	14.0%	11.7%	39.4%	18.7%	104.0%	146.6%
5	TITAGARH TITAGARH RAIL	₹837.75	11,282	58.9	3,271	192	11.1%	5.9%	-17.6%	-38.1%	12.6%	69.9%
6	KRN KRN Heat	₹1,414.00	9,256	91.2	737	97	19.5%	13.2%	39.7%	44.6%	118.9%	164.8%
7	ELECON Elecon Engineering	₹407.35	9,141	37.3	2,457	245	21.3%	10.0%	6.2%	-17.8%	10.5%	9.8%
8	DYNAMATECH Dynamatic Technologies	₹12,004.00	8,152	187.5	1,675	43	11.9%	2.6%	15.6%	-23.8%	14.5%	93.0%
9	SKIPPER Skipper	₹534.55	6,530	26.9	5,609	225	10.4%	4.0%	20.1%	42.7%	4.5%	25.5%
10	GMMPFAUDLR GMM Pfaudler	₹1,335.00	6,002	82.3	3,655	68	10.8%	1.8%	10.2%	4.5%	16.4%	117.7%
11	PRAJIND Praj Industries	₹309.00	5,680	188.4	3,244	31	4.8%	1.0%	-1.8%	-88.9%	11.8%	124.7%
12	TEXRAIL Texmaco Rail	₹109.88	4,471	20.7	4,223	214	8.7%	5.1%	-10.9%	-14.1%	-16.9%	70.7%
13	SHANTIGEAR Shanthi Gears	₹552.20	4,238	66.5	499	64	17.8%	12.7%	-14.3%	-20.2%	-14.4%	-56.6%
14	PITTIENG Pitti Engineering	₹1,122.80	4,145	33.8	1,818	125	18.0%	6.9%	7.2%	-3.9%	15.8%	28.3%
15	JASH Jash Engineering	₹586.00	3,686	39.2	708	94	17.2%	13.3%	0.3%	-12.6%	-23.0%	367.7%
16	UNIPARTS Uniparts India	₹776.85	3,505	19.4	1,244	180	22.3%	14.5%	21.5%	79.5%	26.9%	64.3%
17	ANUP Anup Engineering	₹1,641.20	3,288	39.5	739	83	18.7%	11.2%	11.6%	-8.2%	-30.4%	-95.7%
18	HLEGLAS HLE Glascoat	₹469.20	3,259	59.1	1,370	41	9.0%	3.0%	31.7%	-8.4%	5.9%	-88.5%
19	WINDMACHIN Windsor Machines	₹296.90	3,072	375.8	606	7	4.9%	1.1%	54.7%	10.0%	31.4%	91.4%
20	KABRAEXTRU Kabra Extrusion	₹676.00	2,364	n/m	576	4	4.9%	0.7%	-5.4%	-116.7%	64.2%	1102.8%
21	THEJO Thejo Engineering	₹2,173.40	2,358	40.5	674	55	13.2%	8.1%	14.3%	-5.8%	31.0%	56.1%
22	HMT HMT	₹64.38	2,289	—	147	-132	-76.8%	-89.8%	0.3%	8.3%	16.0%	-3.6%
23	JNKINDIA JNK India	₹407.00	2,277	34.8	818	65	11.2%	8.0%	71.6%	114.6%	77.0%	149.3%
24	TIL TIL	₹250.25	2,063	—	377	-30	4.8%	-7.9%	2.5%	-1175.9%	86.2%	12.4%
25	TRF TRF	₹213.97	235	4.7	101	51	6.2%	49.9%	-29.6%	-117.3%	60.9%	832.2%

❓ Frequently asked questions

What was TRF Limited's revenue in Q2 FY27?

What was TRF Limited's net profit in Q2 FY27?