TRF Ltd Q1 FY22 Share Price & Earnings Call Analysis

Financials of TRF Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of TRF Ltd

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +38.8933.9139.2728.7738.0037.6232.7023.3127.1123.4222.3419.8919.39
Expenses +34.9623.9130.6217.0632.6932.4725.9411.8020.8820.2217.2713.1925.64
Operating Profit3.9310.008.6511.715.315.156.7611.516.233.205.076.70-6.25
OPM %10.11%29.49%22.03%40.70%13.97%13.69%20.67%49.38%22.98%13.66%22.69%33.69%-32.23%
Other Income +2.682.5413.23-4.766.113.873.644.016.533.78-6.963.654.06
Interest5.503.292.973.104.503.473.753.603.232.814.163.834.01
Depreciation0.480.500.570.550.620.570.630.650.870.660.710.780.77
Profit before tax0.638.7518.343.306.304.986.0211.278.663.51-6.765.74-6.97
Tax %-1,065.08%0.00%0.00%63.03%0.00%0.00%0.00%0.00%59.35%0.00%0.74%0.00%-0.86%
Net Profit +7.348.7618.331.216.304.996.0211.273.523.51-6.815.74-6.91
EPS in Rs6.677.9616.661.105.724.535.4710.243.203.19-6.195.22-6.28

Financials of TRF Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +1,113.30961.92550.26431.96223.09185.45113.95127.14177.10139.96120.7385.03
Expenses +1,197.13946.16584.87575.02314.15339.47151.40131.01118.62104.2991.2776.30
Operating Profit-83.8315.76-34.61-143.06-91.06-154.02-37.45-3.8758.4835.6729.468.73
OPM %-7.53%1.64%-6.29%-33.12%-40.82%-83.05%-32.87%-3.04%33.02%25.49%24.40%10.27%
Other Income +101.1611.5242.6844.86120.489.75-14.8913.8550.1817.1118.054.53
Interest58.0456.5147.7648.9560.8837.4338.0030.6224.7513.8614.0614.82
Depreciation13.759.655.534.993.393.302.742.422.012.242.522.91
Profit before tax-54.46-38.88-45.22-152.14-34.85-185.00-93.08-23.0681.9036.6830.93-4.47
Tax %15.77%5.32%-46.70%-11.84%0.03%0.02%0.03%-0.04%-8.16%5.67%16.62%0.00%
Net Profit +-63.04-40.95-24.10-134.11-34.86-185.03-93.11-23.0488.5834.6025.79-4.47
EPS in Rs-59.05-37.15-21.90-121.87-31.41-168.14-84.61-20.9480.5031.4423.44-4.06
Dividend Payout %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Financials of TRF Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital11.0011.0011.0011.0011.0011.0011.0011.0011.0011.0011.0011.00
Reserves-27.20-59.73-92.38-211.83-237.89-416.63-508.18-531.21-411.63-394.55-366.5473.37
Borrowings +601.80620.55561.05398.52457.20530.68494.46522.79507.42542.01554.22129.65
Other Liabilities +782.03730.48717.91893.01450.16445.16427.21365.21207.14151.05140.64134.76
Total Liabilities1,367.631,302.301,197.581,090.70680.47570.21424.49367.79313.93309.51339.32348.78
Fixed Assets +244.96226.26209.06193.67112.5322.5519.9518.1117.1719.4420.6125.68
CWIP0.030.150.750.781.480.000.000.000.000.000.942.30
Investments0.2318.0117.7218.9027.950.430.750.7461.6965.5619.86226.12
Other Assets +1,122.411,057.88970.05877.35538.51547.23403.79348.94235.07224.51297.9194.68
Total Assets1,367.631,302.301,197.581,090.70680.47570.21424.49367.79313.93309.51339.32348.78

Financials of TRF Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +57.611.83110.5155.22-106.99-55.7520.96-37.6883.1033.9093.56-0.07
Cash from Investing Activity +46.963.892.0625.19134.121.4760.516.33-50.1214.80-110.85-45.06
Cash from Financing Activity +-87.69-33.54-109.49-70.01-10.9163.92-79.138.93-30.310.49-0.62-0.61
Net Cash Flow16.88-27.823.0710.4016.219.652.35-22.422.6649.20-17.91-45.74
Free Cash Flow104.41-7.34112.8552.02-109.64-56.5120.55-37.2681.8128.9889.76-8.47
CFO/OP-60%5%-336%-46%118%33%-53%883%122%112%327%11%

Financials of TRF Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days208.72242.12365.87321.27489.64433.12615.90400.20129.80258.3493.12107.44
Inventory Days143.34147.51243.40130.41354.96434.34553.66245.46228.81129.50657.82
Days Payable220.40243.33459.32401.361,051.211,568.552,396.251,473.331,378.161,050.071,972.88
Cash Conversion Cycle131.65146.29149.9550.32-206.61-701.09-1,226.69-827.68-1,019.54-662.2393.12-1,207.61
Working Capital Days-21.57-50.66-146.95-104.69-363.82-534.28-950.57-826.92-88.44-61.57-190.16729.48
ROCE %-6.35%3.12%-0.37%-30.34%-5.21%-83.07%-58.48%188.39%37.59%21.81%10.54%