TRF Ltd - Stock Valuation and Financial Performance

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

TRF Share Price

439.30 12.90 3.03%
as on 31-Oct'24 16:01

DeciZen - make an informed investing decision on TRF

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

1. Quality

2. Valuation

Overvalued

3. Price Trend

TRF stock performance -

mw4me loader
P/E Ratio (SA):
14.51
Market Cap:
483.4 Cr.
52-wk low:
238.1
52-wk high:
670

Is TRF Ltd an attractive stock to invest in?

1. Is TRF Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that TRF Ltd is a 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 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 performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % -11.1%8.9%-1%-45.8%-27.5%-77.2%-58.6%390.1%195.3%46.5%-
Value Creation
Index
NANANANANANANANA13.02.3-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 547540506352236186114127177140137
Sales YoY Gr.--1.3%-6.4%-30.5%-32.9%-21.3%-38.6%11.6%39.3%-21%-
Adj EPS -72.6-7.2-22.3-149.3-113.5-119.6-61.8-15.379.742.430.3
YoY Gr.-NANANANANANANANA-46.9%-
BVPS (₹) -10.7-15.8-39.9-172.4-61-182.7-448.1-468.7-389.4-349.458.8
Adj Net
Profit
-79.9-7.9-24.6-164-125-132-68.1-16.887.746.633
Cash Flow from Ops. 15.3-23.564.322.6-123-58.929369.88-
Debt/CF from Ops. 24.4-17.85.916.4-1.7-5.29.299.21.215-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -14.1%-9.9%7.1%-21%
Adj EPS NANANA-46.9%
BVPSNANANANA
Share Price 4% 31% 51.2% 77.8%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
-260.754.380.2140.697.298.229.16.1-64.9162.8-20.8
Op. Profit
Mgn %
-7.21-1.2-41.5-32.3-53.2-28.7-2.3318.921.4
Net Profit
Mgn %
-14.6-1.5-4.9-46.7-52.9-70.9-59.7-13.249.533.324.4
Debt to
Equity
-31.7-24.1-8.7-2-3.2-1.5-1-14.43.11.7
Working Cap
Days
5485375306397397931,098764373374259
Cash Conv.
Cycle
215209194241143173276-18-1052589

Recent Performance Summary

No data to display

Return on Equity is Poor

Sales growth has been subdued in last 3 years 7.09%

Net Profit has been subdued in last 3 years 0.00%

Debt to equity has increased versus last 3 years average to 3.12

Sales growth is not so good in last 4 quarters at -7.68%

Latest Financials - TRF Ltd.

Standalone Consolidated
TTM EPS (₹) 30.3 16.8
TTM Sales (₹ Cr.) 137 137
BVPS (₹.) 58.8 63.7
Reserves (₹ Cr.) 54 59
P/BV 7.48 6.90
PE 14.51 26.10
From the Market
52 Week Low / High (₹) 238.10 / 670.00
All Time Low / High (₹) 7.65 / 1175.00
Market Cap (₹ Cr.) 483
Equity (₹ Cr.) 11
Face Value (₹) 10
Industry PE 59.6

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

Key Ratios of TRF

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales547540506352236186114127177140
Operating Expenses 607538515499321286147130122128
Manufacturing Costs16312610699678743302219
Material Costs287294290230954834311716
Employee Cost 56554853445251366162
Other Costs 10062711171159818332330
Operating Profit -593-10-148-85-100-33-35512
Operating Profit Margin (%) -10.8%0.5%-1.9%-42.0%-36.1%-54.0%-28.7%-2.4%31.0%8.9%
Other Income 1236106784215343
Interest 43444647613738312514
Depreciation 6544333222
Exceptional Items 900273601-507
Profit Before Tax -87-10-49-166-106-133-68-208147
Tax 00-22-200000-70
Profit After Tax -87-10-27-146-106-133-68-208847
PAT Margin (%) -16.0%-1.8%-5.3%-41.5%-44.8%-71.5%-59.6%-16.0%49.6%33.3%
Adjusted EPS (₹)-79.4-9.0-24.5-132.0-95.9-120.0-61.8-18.579.842.3
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund -12-17-44-190-67-201-267-2901938
Share Capital 111111111111237237459434
Reserves -23-28-55-201-78-212-504-527-440-395
Minority Interest0000000000
Debt34637432930317726624728484119
Long Term Debt1561156234243648808494
Short Term Debt190260267269153230199204025
Trade Payables3033133112992462121771276352
Others Liabilities 42436333633921623823018310697
Total Liabilities 1,0611,033932752572515387305272306

Fixed Assets

Gross Block85394040414142403740
Accumulated Depreciation475912161922222021
Net Fixed Assets38343128252320181719
CWIP 0000000000
Investments 18518518518292926156117128
Inventories1391361288465594121106
Trade Receivables5125394483482792201921396399
Cash Equivalents 81471225201426
Others Assets179124133998510272676247
Total Assets 1,0611,033932752572515387305272306

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 15-246423-123-59293708
PBT -87-10-49-166-106-133-68-208147
Adjustment 39326088941163534-17-23
Changes in Working Capital 55-5256102-114-3959-8-9-15
Tax Paid 96-2-22-33-3150
Cash Flow From Investing Activity 1829630135034-3-57-3
Capex 8-10-10000-1-5
Net Investments 08031136033-3-551
Others 102260002000
Cash Flow From Financing Activity -391-78-53-464-82-1-12-1
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -5-26-42-11-6816-1320-570
Interest Paid -41-40-42-44-61-37-38-25-14-1
Dividend Paid 0000000000
Others 7676112585-315600
Net Cash Flow -66-7095-18-124
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)N/AN/AN/AN/AN/AN/AN/AN/A00
ROCE (%)N/AN/AN/AN/AN/AN/AN/AN/A195.2846.45
Asset Turnover Ratio0.520.530.530.420.360.340.250.370.610.48
PAT to CFO Conversion(x)N/AN/AN/AN/AN/AN/AN/AN/A0.80.17
Working Capital Days
Receivable Days326347347411483489660476209211
Inventory Days749193109114121160893321
Payable Days3403823934841,0521,7302,0751,7632,0871,318

TRF Ltd Stock News

TRF Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of TRF on 31-Oct-2024 16:01 is ₹439.3.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 31-Oct-2024 16:01 the market cap of TRF stood at ₹483.4.
The latest P/E ratio of TRF as of 31-Oct-2024 16:01 is 14.51.
The latest P/B ratio of TRF as of 31-Oct-2024 16:01 is 7.48.
The 52-week high of TRF is ₹670.0 and the 52-week low is ₹238.1.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of TRF is ₹136.5 ( Cr.) .

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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