TRF Ltd Stock Analysis

BSE: 505854 | NSE: TRF | Engineering - Industrial Equipments | Small Cap

BSE Share Price Aug 01, 18:01
130.55 0.00 (0.00%)

DeciZen - Make an Informed Decision on TRF

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

TRF Price Chart

P/E Ratio (SA) :
9.58
Market Cap :
143.7 Cr.
52-wk low :
98.6
52-wk high :
169.8
Bole Toh?

1. Is TRF Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that TRF Ltd is a below average quality company.

2. Is TRF Ltd undervalued or overvalued?

The key valuation ratios of TRF Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

3. Is TRF Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of TRF Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of TRF:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

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.
TRF Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
ROCE % 8.6%-9.8%-2.1%-12.4%6%2%-50.8%-50.6%-85.5%-86.4%-
Value Creation Index -0.4-1.7-1.2NANANANANANANA-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 802647696547540506352236186114153
YoY Gr. Rt. %--19.4%7.7%-21.4%-1.3%-6.4%-30.5%-32.9%-21.3%-38.7%-
Adj EPS 17.1-69.2-37-72.6-7.2-22.3-149.3-113.5-119.6-61.813.6
YoY Gr. Rt. %--505.7%NANANANANANANANA-
BVPS (₹) 160.690.766.4-10.7-15.8-39.9-172.4-61-182.7-242.4-244.4
Adj Net Profit 18.8-76.1-40.7-79.9-7.9-24.6-164-125-132-68.115
Cash Flow from Ops. 21.63.215.815.3-23.564.322.6-123-58.929-
Debt/CF from Ops. 15123.323.324.4-17.85.916.4-1.7-5.29-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -19.5%-26.8%-31.4%-38.7%
Adj EPS -215.4%NANANA
BVPS -204.7000
Share Price -5.7% -9.4% 12.9% 17.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Equity % 10.9-55-47.1-260.754.380.2140.697.298.229.1-5.6
Op. Profit Mgn % 7.3-5.9-1.3-7.21-1.2-41.5-32.3-53.2-28.712.3
Net Profit Mgn % 2.3-11.8-5.8-14.6-1.5-4.9-46.7-52.9-70.9-59.99.8
Debt to Equity 1.83.95.1-31.7-24.1-8.7-2-3.2-1.5-1-
Working Cap Days 3824884615485375306397397931,0980
Cash Conv. Cycle 1081901792152091942411431732260

Recent Performance Summary

Sales growth is good in last 4 quarters at 64.07%

Return on Equity is Poor

Sales growth has been subdued in last 3 years 0.00%

Net Profit has been subdued in last 3 years 0.00%

Latest Financials - TRF Ltd.

Standalone Consolidated
TTM EPS (₹) 13.6 14.4
TTM Sales (₹ Cr.) 153 153
BVPS (₹.) -244.4 -244
Reserves (₹ Cr.) -280 -279
P/BV -0.53 -0.54
PE 9.58 9.09
From the Market
52 Week Low / High (₹) 98.55 / 169.75
All Time Low / High (₹) 7.65 / 1175.00
Market Cap (₹ Cr.) 144
Equity (₹ Cr.) 11
Face Value (₹) 10
Industry PE 19.7

Management X-Ray of TRF :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

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Key Ratios of TRF

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)

News

About TRF Ltd

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.
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