Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 20 Jul
Source: Bse
TRF Limited (TRF)
Small CapIndustrials stocks · Small cap · NSE
TRF Limited operates in Material Handling, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Official result overlay30 Sept 2026 · nse-xbrl
Latest result13 Oct, 06:06 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage11/14 · 79%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
40NeutralSMA20 -6.6% / mo · MACD + · near 52W low
Stock trend: 37
Sector RS: 46
Sector 3M: -7.1% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
TRFD candles · FIT view-22.6%TODAY · PROVISIONALLatest price ₹208.70 on 2026-10-21
Today's candle is provisional from the latest intraday quote; completed-candle scans remain unchanged.
Bar
-3.0%
RSI
47
MACD hist
1.91
52W pos
12%
2026-10-21O ₹215.07H ₹216.26L ₹205.36C ₹208.70Vol 8,590 shIntraday candle
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
TRFNifty India ManufacturingNifty 500
- TRF
- -11.7%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- -6.1 pp
Chart stats
19 Oct 2026- From 52W high
- -40.2%
- 52W range position
- 15%
- ATR (14)
- 6.4%
- Volume vs 20D
- 0.47x
- Avg traded value
- ₹1 Cr
- 20D price channel
- ₹190 - ₹248
₹359.7
₹190 - ₹359.7
₹13.8
Latest completed session
20-session average
74.1% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · FAIR VALUE47
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average32
Revenue +61.0% · PAT NDF YoY
Technical
Neutral40
Price trend and sector-relative-strength timing.
Valuation
Legacy model+88.5%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence53
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Sept 2026
Average · 32/100margin compression · Rev +61% YoY · +38% QoQ
Filed 13 Oct 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹36 Cr | +61.0% | +38.1% |
| EBITDA | ₹4.5 Cr | -11.8% | +236.1% |
| Operating margin | 12.4% | -1026 bps | +732 bps |
| PAT | ₹49.9 Cr | NDF | +2551.6% |
| PAT margin | 138.6% | +16911 bps | +13141 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 5.06
- P/B
- —
- EV/EBITDA
- 77.22
- Market Cap
- 255.73Cr
Profitability
- ROE
- —
- ROCE
- 9.42%
- ROA
- -1.75%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- -6.00%
- EPS 5Y
- 15.00%
- Revenue 3Y
- -22.00%
- EPS 3Y
- -62.00%
Balance Sheet
- Debt/Equity
- 0.00
- Interest Coverage
- 0.41×
- Altman Z
- -0.90
- Book Value
- -307.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 8/5
- OCF
- -0.07 Cr
- EPS TTM
- 45.95
Shareholding
- Promoter Hold
- 34.12%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 2%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 85.0-29.8% vs prev
Net Profit
₹ CrLatest: -4.0-115.4% vs prev
Return on Equity
%No data
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 47.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~7.0% over last month) — short-term momentum negative.
- RSI(14) at 47 — falling, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 40% off 52W high · 10% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
20
RS percentile
Stage 4 Downtrend
1M return
-0.1%
3M return
-11.7%
6M return
-20.7%
1Y return
-34.5%
RS 1D
-6
RS 20D
+3
Sector rank
#2
Industry rank
#19
Stage evidence
- Price is 8.6% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -1.9%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 64.94-6.55%
RS vs Nifty 50065
Valuation & peers
U-Score 47 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 47 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Deep Value
Fundamental score breakdown
U band · FAIR VALUEValuation22/30
Growth17/25
Quality0/20
Balance Sheet4/15
Cash Flow3/10
Piotroski
5/9 (+3)
Penalties
-2
Raw sum
47
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
47/100 · legacy band FAIR VALUE
Positive drivers
- Fair-value margin of safety is positive at 88.5%.
- Valuation contributes 22/30 to the score.
- Growth contributes 17/25 to the score.
Main drags
- Altman Z is -0.9, in distress territory.
- Penalty bucket subtracts 2 points.
- Quality is weaker at 0/20; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
5.1
PB
—
EV/EBITDA
77.2
ROE
—
ROCE
9.4%
FCF Yield
—
Debt/Equity
0.0
MoS
+88.5%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
47
Previous: 47
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+88.5%
Previous: +88.1%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
15
15
15
15
15
15
15
47
47
47
47
47
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
—
Growth-justified P/E
39.3
Growth-justified Value
₹1,805.84
+88.5% MoS
PEG
0.34
Comparable companies
Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
CROWN
Small
Crown Lifters Limited
Industrial Machinery
match 85
51
14.2
12.7%
+64%
FAIR VALUE
BAJAJINDEF
Small
Indef Manufacturing Limited
Industrial Machinery
match 72
19
27.5
9.2%
-916%
OVERVALUED
TIL
Small
TIL Limited
Industrial Machinery
match 69
11
—
-26.0%
—
OVERVALUED
RVTH
Small
Revathi Equipment India Limited
Industrial Machinery
match 60
40
14.3
8.6%
+64%
WATCHLIST
AFFORDABLE
Small
Affordable Robotic & Automation Limited
Industrial Machinery
match 59
35
35.4
6.6%
+24%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
TRF Limited operates in Material Handling, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Sept 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
53Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 12th percentile of the scored universe and 9th percentile within Industrials. Main check: results consistency is weak at 5/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
11 docs text-extracted · 2 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
12th percentile
overall median 67 · Industrials: 9th pctile, median 68 · Small: 14th pctile, median 66
Evidence depth
Financial-only
11 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Needs extra due diligence; demand valuation comfort and recent improvement.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
52
watch · profit to cash conversion
Balance sheet
66
acceptable · leverage and solvency
Discipline
50
watch · capital discipline
Results
5
weak · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸8 years of positive FCF.
- ▸Debt/equity is 0.00.
Trust risks
- ▸Operating cash flow is negative at ₹0 Cr.
- ▸4 latest quarters had PAT decline worse than 25% YoY.
- ▸Interest coverage is 0.4x.
- ▸ROCE trend is -13.5%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching TRF Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 16 Jul
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 10 Jul
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 15 May
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.