TRF cash flow

Latest FY26

Cash from operations: −₹0.1cr₹93.6 cr in FY25
Capital spending: ₹8.4cr+121.3% on FY25
Free cash flow: −₹8.5cr₹89.8 cr in FY25
Cash from financing: −₹0.6cr−₹0.6 cr in FY25

₹ crore except per share

Tap a line for its trend	Last 12Mto Sep 2026	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus

Changes in working capital
Adjustments to reconcile profit — non-cash items						FY22 and earlierEvery year the company has filed comes with Alpha Plus.
	—	2.9	2.5	2.2	2.0
	—	14.8	14.1	13.9	24.8
	—	0.0	−7.3	−1.9	−2.3
	—	0.0	0.0	−0.0	−0.0
	—	0.0	0.0	0.0	0.0
	—	−26.9	−13.4	−18.3	−39.3
	—	0.0	0.0	0.0	−2.6
	—	0.0	0.0	0.0	15.8
	—	−6.7	1.1	7.2	31.2
	—	8.8	76.1	−32.1	52.0
	—	−0.3	−0.1	−0.2	1.5
	—	0.0	0.0	−0.5	−7.6
	—	7.9	6.1	15.2	0.1
	—	3.8	−0.0	27.8	−0.3
	—	−4.0	−7.4	−1.6	−45.8
	—	−0.2	3.2	−5.6	−5.3
	—	−2.9	−7.2	−13.7	−37.2
	—	−1.6	−0.0	1.6	−0.0
	—	9.9	−2.3	4.2	2.3
	—	0.0	0.0	0.0	1.4
Cash from operating activities
	50.5	−4.5	30.9	41.7	80.8
	—	5.5	65.4	−1.7	−9.4
	—	1.0	96.4	40.0	71.5
	—	1.1	2.8	6.1	−11.6
	—	−0.1	93.6	33.9	83.1
Cash from investing activities
	—	8.4	3.8	4.9	1.3
	—	0.0	0.0	0.0	0.0
	—	0.0	0.0	0.0	134
	—	0.0	0.0	0.0	193
	—	756	426	72.0	0.0
	—	705	313	73.8	0.0
	—	0.0	0.0	16.8	0.0
	—	0.0	0.0	0.0	0.0
	—	13.6	4.0	2.3	0.5
	—	−0.0	−0.0	−0.3	6.9
	—	−45.1	−113	15.6	−52.2
Cash from financing activities
	—	0.0	0.0	0.0	239
	—	0.0	0.0	0.0	25.0
	—	0.0	0.0	28.0	50.5
	—	0.0	0.0	23.1	326
	—	0.1	0.1	0.2	0.2
	—	0.5	0.5	4.3	18.7
	—	−0.6	−0.6	0.5	−30.3
	—	−45.7	−20.0	50.0	0.6
	—	3.7	0.0	−0.8	2.0
	—	−42.0	−20.0	49.2	2.7
	—	—	—	71.9	22.7
Reference items
	6.3	8.7	29.5	35.7	58.5
	6.2%	10.3%	24.4%	25.5%	33.0%
	−8.5	−8.5	89.8	29.0	81.8
	—	5.1	85.2	60.0	—
	−₹7.70	−₹7.70	₹81.57	₹26.34	₹74.30
	—	0.02×	3.63×	0.98×	0.94×
	—	1.1	2.8	6.1	−11.6
	—	0.5	0.5	4.3	18.7

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From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

TRF₹200.46

TRF Limited

· Capital Goods & Defence

₹ CrorePeersRVTH MAHEPC GUJAPOLLO INTLCONV SOMICONVEY DUCON ATAM BAJAJINDEFMcap ₹221 Cr

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In ₹ Crore except Per Share 12 Months Ending	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Last 12M 30/09/2026
Adjustments to Reconcile Profit — Non-cash Items
+ Depreciation & Amortisation	2.0	2.2	2.5	2.9	—
+ Finance Costs	24.8	13.9	14.1	14.8	—
+ Interest Income	-2.3	-1.9	-7.3	0.0	—
+ Dividend Income	-0.0	-0.0	0.0	0.0	—
+ Unrealised FX (Gain) / Loss	0.0	0.0	0.0	0.0	—
+ Other Non-cash Items	-39.3	-18.3	-13.4	-26.9	—
+ Other — Cash Effects are Investing / Financing	-2.6	0.0	0.0	0.0	—
+ Other Reconciling Items	15.8	0.0	0.0	0.0	—
Changes in Working Capital
+ Inventories	31.2	7.2	1.1	-6.7	—
+ Trade Receivables — Current	52.0	-32.1	76.1	8.8	—
+ Other Financial Assets — Current	1.5	-0.2	-0.1	-0.3	—
+ Other Financial Assets — Non-current	-7.6	-0.5	0.0	0.0	—
+ Other Current Assets	0.1	15.2	6.1	7.9	—
+ Other Non-current Assets	-0.3	27.8	-0.0	3.8	—
+ Trade Payables — Current	-45.8	-1.6	-7.4	-4.0	—
+ Other Financial Liabilities — Current	-5.3	-5.6	3.2	-0.2	—
+ Other Current Liabilities	-37.2	-13.7	-7.2	-2.9	—
+ Other Non-current Liabilities	-0.0	1.6	-0.0	-1.6	—
+ Provisions — Current	2.3	4.2	-2.3	9.9	—
+ Provisions — Non-current	1.4	0.0	0.0	0.0	—
Cash from Operating Activities
Profit Before Tax (per I/S)	80.8	41.7	30.9	-4.5	50.5
+ Total Adjustments (incl. Working Capital)	-9.4	-1.7	65.4	5.5	—
Cash from Operations (pre-tax)	71.5	40.0	96.4	1.0	—
+ Income Taxes Paid	-11.6	6.1	2.8	1.1	—
Cash from Operating Activities	83.1	33.9	93.6	-0.1	—
Cash from Investing Activities
+ Acq of Fixed Assets (Capex)	1.3	4.9	3.8	8.4	—
+ Disp of Fixed Assets	0.0	0.0	0.0	0.0	—
+ Disp of Intangible Assets	134.3	0.0	0.0	0.0	—
+ Acq of Investment Property	192.6	0.0	0.0	0.0	—
+ Purchase of Investments (Equity / Debt)	0.0	72.0	426.2	755.7	—
+ Sale of Investments (Equity / Debt)	0.0	73.8	313.0	705.4	—
+ Disp of Subsidiaries / Businesses (net)	0.0	16.8	0.0	0.0	—
+ Dividends Received — Investing	0.0	0.0	0.0	0.0	—
+ Interest Received — Investing	0.5	2.3	4.0	13.6	—
+ Other Inflows / (Outflows) — Investing	6.9	-0.3	-0.0	-0.0	—
Cash from Investing Activities	-52.2	15.6	-113.0	-45.1	—
Cash from Financing Activities
+ Proceeds from Issue of Shares	239.0	0.0	0.0	0.0	—
+ Proceeds from Other Equity Instruments	25.0	0.0	0.0	0.0	—
+ Proceeds from Borrowings	50.5	28.0	0.0	0.0	—
+ Repayment of Borrowings	326.0	23.1	0.0	0.0	—
+ Payment of Lease Liabilities	0.2	0.2	0.1	0.1	—
+ Interest Paid	18.7	4.3	0.5	0.5	—
Cash from Financing Activities	-30.3	0.5	-0.6	-0.6	—
Net Changes in Cash (pre-FX)	0.6	50.0	-20.0	-45.7	—
+ Effect of FX Rate Changes on Cash	2.0	-0.8	0.0	3.7	—
Net Changes in Cash	2.7	49.2	-20.0	-42.0	—
Closing Cash	22.7	71.9	—	—	—
Reference Items
EBITDA	58.5	35.7	29.5	8.7	6.3
EBITDA Margin %	33.02	25.48	24.40	10.25	6.17
Free Cash Flow (CFO − Capex)	81.8	29.0	89.8	-8.5	-8.5
Free Cash Flow to Equity	—	60.0	85.2	5.1	—
Free Cash Flow per Basic Share	74.30	26.34	81.57	-7.70	-7.70
Cash Flow to Net Income	0.94	0.98	3.63	0.02	—
Cash Paid for Taxes	-11.6	6.1	2.8	1.1	—
Cash Paid for Interest	18.7	4.3	0.5	0.5	—

As filed, sign as filed: a payment tagged as a positive magnitude in the filing stays positive here, so read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown — depth follows the filer, so a thin statement means a thin filing. Total Adjustments is the filer's own grand total of the reconciliation and spans BOTH the non-cash items and the working-capital block; Profit Before Tax plus it equals Cash from Operations (pre-tax). It can be reported when its components are not, so it is never a sum of the rows above it. No consensus estimates → no Est columns. Click any row to chart it.

« ‹ › »Latest: FY26 · ConsolidatedFA Financial Analysis · alphave

Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.