| ₹ crore | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Revenue | 36.0 | 22.3 | +60.9% |
| EBITDA | 4.5 | 5.1 | −11.8% |
| EBITDA margin | 12.4% | 22.7% | −10.3 pts |
| Profit before tax | 49.9 | −6.8 | — |
| Net profit | 49.8 | −6.8 | — |
| EPS | ₹45.30 | −₹6.19 | — |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 | FY23Mar 2023 | FY22 and earlierAlpha Plus |
|---|
| 221 | — | — | — | — | FY22 and earlierEvery year the company has filed comes with Alpha Plus. | |
| 217 | 238 | 73.8 | 137 | 83.4 | ||
| 129 | 129 | 115 | 119 | 83.8 | ||
| 133 | — | — | — | — | ||
| 101 | 85.0 | 121 | 140 | 177 | ||
| — | −29.6% | −13.7% | −21.0% | — | ||
| 6.3 | 8.7 | 29.5 | 35.7 | 58.5 | ||
| 6.2% | 10.3% | 24.4% | 25.5% | 33.0% | ||
| 3.1 | 5.8 | 26.9 | 33.4 | 56.5 | ||
| 50.6 | −4.5 | 25.8 | 34.6 | 88.6 | ||
| 49.9% | −5.3% | 21.4% | 24.7% | 50.0% | ||
| ₹45.94 | −₹4.06 | ₹25.46 | ₹38.24 | ₹80.49 | ||
| — | −116.0% | −33.4% | −52.5% | — | ||
| — | −0.1 | 93.6 | 33.9 | 83.1 | ||
| — | −8.4 | −3.8 | −4.9 | −1.3 | ||
| −8.5 | −8.5 | 89.8 | 29.0 | 81.8 | ||
From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|---|
| Market Capitalization | — | — | — | — | 220.8 | |
| - Cash, Equiv & ST Investments | 83.4 | 137.4 | 73.8 | 238.1 | 216.7 | |
| + Total Debt | 83.8 | 119.2 | 115.1 | 129.2 | 129.2 | |
| Enterprise Value | — | — | — | — | 133.3 | |
| Revenue | 177.1 | 140.0 | 120.7 | 85.0 | 101.3 | |
| Growth %, YoY | — | -21.0 | -13.7 | -29.6 | — | |
| EBITDA | 58.5 | 35.7 | 29.5 | 8.7 | 6.3 | |
| Margin % | 33.02 | 25.48 | 24.40 | 10.25 | 6.17 | |
| EBIT | 56.5 | 33.4 | 26.9 | 5.8 | 3.1 | |
| Net Income | 88.6 | 34.6 | 25.8 | -4.5 | 50.6 | |
| Margin % | 50.02 | 24.72 | 21.36 | -5.26 | 49.93 | |
| EPS, Adj (current shares) | 80.49 | 38.24 | 25.46 | -4.06 | 45.94 | |
| Growth %, YoY | — | -52.5 | -33.4 | -116.0 | — | |
| Cash from Operations | 83.1 | 33.9 | 93.6 | -0.1 | — | |
| Capital Expenditures | -1.3 | -4.9 | -3.8 | -8.4 | — | |
| Free Cash Flow | 81.8 | 29.0 | 89.8 | -8.5 | -8.5 | |
Prices at the 29 October 2026 close · figures from the company's filings with NSE
TRF (NSE: TRF) had a market capitalisation of ₹221 crore at the 29 October 2026 close (₹200.46 a share), a PE ratio of 4.3 on the last four quarters' profit and a price-to-book ratio of 2.47. In FY26 its consolidated net loss was ₹4.5 crore on revenue of ₹85 crore; in Q2 FY27 (July–September 2026) it was ₹50.3 crore. Its debt-to-equity ratio was 1.53 on 30 September 2026. Promoters held 34.12% of the shares on 30 September 2026.
TRF's PE ratio is 4.3 at the 29 October 2026 close (₹200.46 a share): a market capitalisation of ₹221 crore divided by consolidated net profit of ₹51 crore over the last four quarters (Q3 FY26 to Q2 FY27). These four quarters include net exceptional items of ₹46.5 crore (one-off gains reported separately), so the ratio on recurring profit would differ.
TRF's price-to-book (PB) ratio is 2.47 at the 29 October 2026 close: a market capitalisation of ₹221 crore divided by shareholders' equity (book value) of ₹89.4 crore on 30 September 2026. That is a book value of ₹81.24 per share against a share price of ₹200.46.
In FY26, TRF's return on equity (ROE) was −5.3% and its return on capital employed (ROCE) was 2.5%. ROE is net profit divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was 45.7% and ROCE 14.4%.
TRF's market capitalisation was ₹221 crore at the 29 October 2026 close: 1.1 crore shares at ₹200.46 each.
TRF's basic earnings per share (EPS) were −₹4.06 in FY26. Over the last four quarters (Q3 FY26 to Q2 FY27) they add up to ₹45.95.
Promoters held 34.12% of TRF on 30 September 2026, unchanged from both the previous quarter and a year earlier, according to the shareholding pattern filed with NSE.
No. TRF had borrowings of ₹137 crore on 30 September 2026 (consolidated balance sheet), a debt-to-equity ratio of 1.53. Its cash and current investments were ₹217 crore, so it held net cash of ₹80 crore.
TRF's debt-to-equity ratio was 1.53 on 30 September 2026: borrowings of ₹137 crore against total equity of ₹89.4 crore. A year earlier, on 30 September 2025, it was 1.44.
In FY26, TRF generated ₹7.4 lakh of cash from operations and spent ₹8.4 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of −₹8.5 crore. In FY25 it was ₹89.8 crore.
TRF's net worth — shareholders' equity in its consolidated balance sheet — was ₹89.4 crore on 30 September 2026, up 5.1% from ₹85.1 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹221 crore at the 29 October 2026 close.
TRF's book value per share was ₹81.24 on 30 September 2026: shareholders' equity of ₹89.4 crore divided by the 1.1 crore shares in issue, up 5.1% from ₹77.32 a year earlier. The share price at the 29 October 2026 close was ₹200.46.
TRF's latest results are for Q2 FY27 (July–September 2026), filed on 13 October 2026: consolidated net profit ₹50.3 crore, against a loss of ₹6.8 crore in Q2 FY26; revenue from operations ₹36 crore, up 60.9% year on year.
On 30 September 2026, TRF's shares were held by promoters 34.12%, foreign portfolio investors (FII/FPI) 0.26%, domestic institutions (DII) 0.02% (including mutual funds at 0.00%) and retail and other non-institutional investors 65.59%. Over the year, FII holding was down 0.24 percentage points from 0.50% and DII holding was unchanged.
On FY26 consolidated figures, against Revathi Equipment India, Mahindra EPC Irrigation and Gujarat Apollo Industries: TRF's operating margin of 6.8% is the second highest of the four (Revathi Equipment India 10.1%, Mahindra EPC Irrigation 5.9%, Gujarat Apollo Industries −30.9%; peer average −5.0%); its return on equity of −5.3% is the lowest of the four (Revathi Equipment India 10.4%, Mahindra EPC Irrigation 7.1%, Gujarat Apollo Industries 1.2%; peer average 6.2%).
In FY26, TRF earned net profit of ₹4.5 crore on revenue of ₹85 crore, against ₹13.8 crore on ₹143 crore for Revathi Equipment India. TRF's operating margin was 6.8% (Revathi Equipment India 10.1%) and its return on equity −5.3% (Revathi Equipment India 10.4%). At the 29 October 2026 close, TRF's market capitalisation was ₹221 crore against ₹198 crore for Revathi Equipment India.
In FY26 (April 2025–March 2026), TRF's consolidated net loss was ₹4.5 crore, against a profit of ₹28 crore in FY25, on revenue from operations of ₹85 crore (down 29.6%).
TRF has reported Q2 FY27. Its next results, for Q3 FY27 (October–December 2026), are due by 14 February 2027 under SEBI's 45-day rule; the company notifies the board-meeting date at least two working days before.
From TRF's own consolidated results, balance sheets and shareholding patterns filed with NSE, and NSE prices (the latest used here: the 29 October 2026 close). Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.