X

TRF Ltd. Stock Analysis

Small Cap
Evaluated by 347 users | BSE: 505854 | NSE: TRF |
Engineering - Industrial Equipments
TRF Limited was incorporated on November 20, 1962, as Tata Robins Fraser Ltd. It was promoted by Tata Steel and the Associated Cement Companies Ltd (ACC), in financial and technical collaboration with Hewitt-Robins Inc. (HR) of USA and the General Electric Company Ltd (GEC) – Fraser...

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Value Creation
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 3.33%8.57%-9.79%-2.14%-12.42%5.97%2%-50.76%-50.55%-85.46%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 724802647696547540506352236186
Y-o-Y Gr. Rt.-10.9%-19.4%7.7%-21.4%-1.3%-6.4%-30.5%-32.9%-21.3%
Adjusted EPS (Rs.) 0.0717.05-69.17-36.98-72.56-7.19-22.33-149.29-113.45-119.58
Y-o-Y Gr. Rt.-24257.1%-505.7%NANANANANANANA
Book Value per Share (Rs.) 152.72160.5990.7266.38-10.7-15.76-39.93-172.44-60.98-182.68
Adjusted Net Profit 0.118.8-76.1-40.7-79.9-7.9-24.6-164-125-132
Net Op. Cash Flow (Rs. Cr.) -18.721.63.215.815.3-23.564.322.6-123-58.9
Debt to Cash Flow from Ops -12.615.03123.2723.3224.36-17.755.9216.44-1.72-5.15
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
TRF Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales -14%-19.5%-28.4%-21.3%
Adjusted EPS -328.7%NANANA
Book Value per Share -202000
Share Price -15.3% -22.7% -32% -25.6%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 0.0410.88-55.04-47.07-260.6654.3480.2140.5997.298.15
Operating Profit Margin (%) 1.717.34-5.89-1.32-7.21.04-1.19-41.47-32.31-53.02
Net Profit Margin (%) 0.012.34-11.77-5.84-14.59-1.46-4.86-46.73-52.94-70.91
Debt to Equity 1.41.843.95.06-31.66-24.07-8.67-1.96-3.15-1.51
Working Capital Days 365382488461548537530639739793
Cash Conversion Cycle 109108190179215209194241143173
Entity Percentage Holding
Promoters 34.12%
Institutions 2.00%
Non-Institutions 63.87%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of TRF Ltd.'s performance infers:

TRF Ltd. earnings have grown by 0%, whereas share price has depreciated -22.7% CAGR over the past five years, indicating the company's share price is likely undervalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of TRF Ltd. share prices over the last 10 years. Here is what we found out:

TRF Ltd. share price has depreciated -19.9% annually over the past ten years.

TRF Limited was incorporated on November 20, 1962, as Tata Robins Fraser Ltd. It was promoted by Tata Steel and the Associated Cement Companies Ltd (ACC), in financial and technical collaboration with Hewitt-Robins Inc. (HR) of USA and the General Electric Company Ltd (GEC) – Fraser & Chalmers Division of UK.

TRF is part of the Tata Group of companies, comprising over 90 enterprises in seven business sectors having operations in 40 countries. Founded in the last quarter of the

TRF Limited was incorporated on November 20, 1962, as Tata Robins Fraser Ltd. It was promoted by Tata Steel and the Associated Cement Companies Ltd (ACC), in financial and technical collaboration with Hewitt-Robins Inc. (HR) of USA and the General Electric Company Ltd (GEC) – Fraser & Chalmers Division of UK.

TRF is part of the Tata Group of companies, comprising over 90 enterprises in seven business sectors having operations in 40 countries. Founded in the last quarter of the 19th century, at a time when India had just embarked on the road to independence, the Group's business opportunities are aligned with nation building. A pioneer in solutions for bulk material handling/processing systems and equipments, port and yard equipments, TRF undertakes turnkey projects for power and steel plants, ports, fertilisers and mining sectors. Over the last five decades, TRF's products and services have developed a market for themselves in the infrastructural sector in India and overseas. The company has several international collaborators and technology associates.

In 2012 TRF Acquired Balance Stake in York Transport Equipment(Asia), Singapore.

The company's operations are segregated into four divisions:

  • Bulk Material Handling Equipment Division specializes in the design and manufacture of a wide range of equipment, especially material handling, which is used in the infrastructure industries.
  • Bulk Material Handling Systems Division offers a complete package of material handling and allied systems and services on a turnkey basis, such as stamp-charging pushing systems for coke oven projects and coal dust injection systems for blast furnaces.
  • Port and Yard Equipment Division focuses on the design, supply, erection and the commissioning of bulk and unit material handling equipment for ports and stockyards including level luffing cranes, ship loaders and unloaders, container cranes, stacker-reclaimers and special purpose cranes for power and metallurgical plants. It also implements projects and provides engineering, procurement and construction management (EPC/M) services towards the setting up small and medium size plants, such as blast furnaces, sinter plants and coal washeries.
  • Design and Engineering- TRF with the help of application engineering, customises its products to specific application, ensuring customer satisfaction. Stressing on the constant need to improve performance and create a sense of reliability, TRF's specialists work towards integrating their expertise and tender specification with customer demand. Adding further value to the system, are regular feedback and suggestions from the company's overseas associates. Moreover, the extensive CAD networks, interfaced with business information systems, further facilitate the operation of key processes. The company also has an advanced design and analysis software, which ensure flexibility and speed in customising the designs of products and systems.

Product range of the company includes:

TRF Ltd products have established their own brand and a demand for themselves in the Indian infrastructure sector, such as power, steel, mining, cement and port, to mention a few.

Among its other activities are, implementation of projects on an EPC (engineering, procurement and construction) basis or providing EPCM (engineering, procurement, construction management) services towards the setting up of small and medium size plants, such as blast furnaces, sinter plants and coal washeries. 

  • Wagon Tippler & Side Arm Charger
  • Rotary Breakers
  • Ring Granulators
  • Imapctors, Jaw Crushers, Roll Crushers, Cone Crushers & Hammer Mills
  • Screens Vibro Pulse, Truflo Ultra Flo, Unbalanced Motor, Washery Screens
  • Rotary Plough Feeders, Belt Feeders
  • Vibrating Feeders
  • Shuttle Conveyor
  • Ship/ Barge Unloaders
  • Apron Feeders
  • Wagon Loaders
  • Travelling Tippers
  • Stacker & Barrel Reclaimers
  • Side Discharge Loaders
  • Load Haul Dumpers
  • Ladle Cranes
  • Level Luffling Cranes
  • Idlers & Pulley 
  • Ship Loaders

Subsidiary

TRF also owns a subsidiary, York TEA, Singapore, which produces and distributes trailer undergears, and has a market presence in 27 countries.

Achievements/ recognition

  • In 1976, The Government of India, Department of Science and Technology, recognized the Research and Development Department of TRF Ltd for a period of three years, valid till March 31, 1979.
  • 1987-88, The Company also introduced the ‘Stamp Charging Technology’, in association with SAARBERG Inter-plan, West Germany, for improving the quality of the coke oven batteries used in the steel plants.
  • In the years 1999 and 2000, the process of Tata Material Handling Systems Limited (TMHS) and Tata Technodyne Limited (TTDL) with TRF started2001-02: The JRD Tata Learning Centre was inaugurated on the TRF premises, thus addressing the long- standing need of an essential facility required for imparting knowledge to the TRF employees.
  • 2003-04: the Port & Yard Equipment Division- its Quality Management System was certified under ISO 9001:2000 standards.
  • TRF was awarded the SERIOUS ADOPTION OF TBEM AWARD 2005, based on their performance in the TBEM External Assessment in 2005
  • 2006-07: The Company secured a conveyor system and equipment for raw material handling system from Tata Steel.
  • The awards and recognitions at TRF Ltd are tuned towards encouraging the individual to attain higher flights of performance, which lead to the growth and prosperity the company as well. The Tata Business Excellence Model (TBEM) provides training to the officers to improve their professional skills and thus enhance their functioning and the company’s productivity.
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

Callback