TRF LIMITED — Quarter ended March 31, 2026 (Standalone and Consolidated)
| Sl. No. |
Particulars |
Quarter ended 31.03.2026 Unaudited |
Quarter ended 31.12.2025 Unaudited |
Quarter ended 31.03.2025 Unaudited |
Year ended 31.03.2026 Audited |
Year ended 31.03.2025 Audited |
| 1 |
Revenue from operations |
|
|
|
|
|
|
(a) Income from operations |
1,938.56 |
1,988.89 |
2,691.48 |
8,503.22 |
11,993.49 |
|
(b) Other operating revenues |
– |
– |
19.50 |
– |
79.99 |
|
Total revenue from operations [1(a) to 1(b)] |
1,938.56 |
1,988.89 |
2,710.98 |
8,503.22 |
12,073.48 |
| 2 |
Other income [Refer Note 3(a)] |
421.52 |
369.38 |
570.58 |
1,448.01 |
1,467.25 |
| 3 |
Total income (1 + 2) |
2,360.08 |
2,358.27 |
3,281.56 |
9,951.23 |
13,540.73 |
| 4 |
Expenses |
|
|
|
|
|
|
(a) Cost of raw materials consumed |
540.00 |
212.59 |
210.57 |
934.33 |
380.41 |
|
(b) Cost of services consumed |
52.01 |
(4.11) |
53.30 |
125.56 |
281.70 |
|
(c) Changes in inventories of finished goods, work in progress and contracts in progress |
(433.85) |
(95.57) |
(68.95) |
(311.94) |
22.16 |
|
(d) Employee benefits expense |
1,465.10 |
1,474.86 |
1,397.19 |
5,738.07 |
6,102.46 |
|
(e) Finance costs |
400.81 |
381.93 |
323.31 |
1,480.13 |
1,405.45 |
|
(f) Depreciation and amortisation expense |
76.77 |
77.67 |
67.38 |
290.88 |
252.11 |
|
(g) Other expenses [Refer Note 3(b)] |
889.48 |
(282.83) |
610.21 |
927.67 |
2,333.74 |
|
Total expenses [4(a) to 4(g)] |
2,990.32 |
1,764.54 |
2,593.01 |
9,184.70 |
10,778.03 |
| 5 |
Profit / (Loss) before exceptional items and tax (3 – 4) |
(630.24) |
593.73 |
688.55 |
766.53 |
2,762.70 |
| 6 |
Exceptional items |
|
|
|
|
|
|
(a) Employee separation compensation [Refer Note 5(a)] |
– |
– |
– |
1,130.95 |
– |
|
(b) Adjustments related to capital reduction [Refer Note 5(b)] |
– |
(575.47) |
– |
(575.47) |
– |
|
Total exceptional items [6(a) to 6(b)] |
– |
(575.47) |
– |
555.48 |
– |
| 7 |
Profit / (Loss) before tax (5 – 6) |
(630.24) |
1,169.20 |
688.55 |
211.05 |
2,762.70 |
| 8 |
Tax expense / (credit) |
|
|
|
|
|
|
(a) Current tax |
– |
– |
– |
– |
– |
|
(b) Deferred tax |
– |
– |
– |
– |
– |
|
Total tax expense / (credit) [8(a) to 8(b)] |
– |
– |
– |
– |
– |
| 9 |
Net Profit / (Loss) for the period / year (7 – 8) |
(630.24) |
1,169.20 |
688.55 |
211.05 |
2,762.70 |
| 10 |
Other comprehensive income (Net of tax) |
|
|
|
|
|
|
(a) Items that will not be reclassified to profit or loss |
89.76 |
(30.26) |
54.68 |
34.83 |
20.23 |
|
(b) Items that will be reclassified to profit or loss |
– |
– |
– |
– |
– |
|
Total other comprehensive income [10(a) to 10(b)] |
89.76 |
(30.26) |
54.68 |
34.83 |
20.23 |
| 11 |
Total comprehensive income (9 + 10) |
(540.48) |
1,138.94 |
743.23 |
245.88 |
2,782.93 |
| 12 |
Paid-up equity share capital (Face value Rs 10 per Share) |
1,100.44 |
1,100.44 |
1,100.44 |
1,100.44 |
1,100.44 |
| 13 |
Reserves |
– |
– |
– |
7,384.61 |
7,138.73 |
| 14 |
Earnings per Equity share (Not annualised) |
|
|
|
|
|
|
Basic EPS – in Rupees |
(5.73)* |
10.62* |
6.26* |
1.92 |
25.11 |
|
Diluted EPS – in Rupees |
(5.73)* |
10.62* |
6.26* |
1.92 |
25.11 |
| Sl. No. |
Particulars |
Quarter ended 31.03.2026 (Unaudited) |
Quarter ended 31.12.2025 (Unaudited) |
Quarter ended 31.03.2025 (Unaudited) |
Year ended 31.03.2026 (Audited) |
Year ended 31.03.2025 (Audited) |
| 1. |
Segment Revenue |
|
|
|
|
|
| (a) |
Projects & Services |
41.24 |
122.58 |
153.52 |
531.17 |
1,565.25 |
| (b) |
Products & Services |
1,921.12 |
1,868.15 |
2,558.90 |
8,013.55 |
10,533.28 |
|
Total Segment Revenue |
1,962.36 |
1,990.73 |
2,712.42 |
8,544.72 |
12,098.53 |
|
Less: Inter-segment revenue |
23.80 |
1.84 |
1.44 |
41.50 |
25.05 |
|
Revenue from operations |
1,938.56 |
1,988.89 |
2,710.98 |
8,503.22 |
12,073.48 |
| 2. |
Segment Results* |
|
|
|
|
|
| (a) |
Projects & Services |
(288.85) |
508.34 |
(74.60) |
89.27 |
(356.61) |
| (b) |
Products & Services |
(238.68) |
140.40 |
551.26 |
1,009.15 |
3,247.70 |
|
Total Segment Results |
(527.53) |
648.74 |
476.66 |
1,098.42 |
2,891.09 |
|
Interest income |
(162.40) |
(324.27) |
(306.18) |
(986.06) |
(374.30) |
|
Interest expense |
399.01 |
378.41 |
316.16 |
1,466.03 |
1,369.23 |
|
Depreciation and Amortisation (unallocable) |
0.90 |
0.93 |
1.03 |
3.76 |
3.87 |
|
Other unallocable expenditure / (income) (net) |
(134.80) |
(0.06) |
(222.90) |
(151.84) |
(870.41) |
|
Profit / (Loss) before exceptional items and tax |
(630.24) |
593.73 |
688.55 |
766.53 |
2,762.70 |
|
Exceptional items |
|
|
|
|
|
| (a) |
Employee separation compensation [Refer Note 5(a)] |
– |
– |
– |
1,130.95 |
– |
| (b) |
Adjustments related to capital reduction [Refer Note 5(b)] |
– |
(575.47) |
– |
(575.47) |
– |
|
Total exceptional items |
– |
(575.47) |
– |
555.48 |
– |
|
Profit / (Loss) before tax |
(630.24) |
1,169.20 |
688.55 |
211.05 |
2,762.70 |
|
Tax expense |
– |
– |
– |
– |
– |
|
Profit / (Loss) after tax |
(630.24) |
1,169.20 |
688.55 |
211.05 |
2,762.70 |
| 3. |
Segment Assets |
|
|
|
|
|
|
Projects & Services |
2,790.48 |
3,020.54 |
3,258.32 |
2,790.48 |
3,258.32 |
|
Products & Services |
5,845.25 |
6,154.99 |
4,858.86 |
5,845.25 |
4,858.86 |
|
Unallocable |
26,209.45 |
25,636.67 |
25,018.18 |
26,209.45 |
25,018.18 |
|
Total Segment Assets |
34,845.18 |
34,812.20 |
33,135.36 |
34,845.18 |
33,135.36 |
|
Asset Held for Sale |
32.87 |
– |
– |
32.87 |
– |
|
Total Assets |
34,878.05 |
34,812.20 |
33,135.36 |
34,878.05 |
33,135.36 |
| 4. |
Segment Liabilities |
|
|
|
|
|
|
Projects & Services |
7,702.61 |
8,047.86 |
8,051.21 |
7,702.61 |
8,051.21 |
|
Products & Services |
4,496.22 |
4,045.68 |
3,854.83 |
4,496.22 |
3,854.83 |
|
Unallocable |
14,194.17 |
13,693.13 |
12,990.15 |
14,194.17 |
12,990.15 |
|
Total Segment Liabilities |
26,393.00 |
25,786.67 |
24,896.19 |
26,393.00 |
24,896.19 |
| Particulars |
Quarter ended 31.03.2026 (Unaudited) |
Quarter ended 31.12.2025 (Unaudited) |
Quarter ended 31.03.2025 (Unaudited) |
Year ended 31.03.2026 (Audited) |
Year ended 31.03.2025 (Audited) |
| (a) Projects & Services |
4.05 |
5.09 |
6.30 |
24.70 |
26.13 |
| (b) Products & Services |
71.82 |
71.65 |
60.05 |
262.42 |
222.11 |
| Particulars |
As at 31.03.2026
Audited |
As at 31.03.2025
Audited |
| A. ASSETS |
|
|
| 1. Non-current assets |
|
|
| (a) Property, plant and equipment |
2,501.97 |
2,025.63 |
| (b) Capital work-in-progress |
229.89 |
93.66 |
| (c) Right-of-use assets |
45.46 |
9.22 |
| (d) Intangible assets |
20.25 |
26.30 |
| (e) Financial assets |
|
|
| (i) Investments in subsidiaries |
698.82 |
6,259.17 |
| (ii) Other financial assets |
1,394.69 |
2,770.24 |
| (f) Advance income tax assets (net) |
366.52 |
817.11 |
| (g) Other non-current assets |
1,134.17 |
1,196.13 |
| Sub total non-current assets |
6,391.77 |
13,197.46 |
| 2. Current assets |
|
|
| (a) Inventories and contracts in progress |
1,120.70 |
448.61 |
| (b) Financial assets |
|
|
| (i) Investments |
22,612.27 |
1,986.11 |
| (ii) Trade receivables |
2,502.80 |
3,080.41 |
| (iii) Cash and cash equivalents |
500.86 |
654.50 |
| (iv) Other balances with banks |
39.85 |
11,537.22 |
| (v) Other financial assets |
5.54 |
280.62 |
| (c) Other current assets |
1,671.39 |
1,950.43 |
| Sub total current assets |
28,453.41 |
19,937.90 |
| 3. Assets classified as held for sale |
32.87 |
– |
| TOTAL ASSETS |
34,878.05 |
33,135.36 |
| B. EQUITY AND LIABILITIES |
|
|
| 1. Equity |
|
|
| (a) Equity share capital |
1,100.44 |
1,100.44 |
| (b) Other equity |
7,384.61 |
7,138.73 |
| Sub total equity |
|
|
