TRF Limited (TRF) - Net Assets
Based on the latest financial reports, TRF Limited (TRF) has net assets worth Rs850.89 Million INR (≈ $9.20 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs3.43 Billion ≈ $37.05 Million USD) and total liabilities (Rs2.57 Billion ≈ $27.85 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check TRF asset liquidity ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Rs850.89 Million |
| % of Total Assets | 24.84% |
| Annual Growth Rate | 3.99% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 65.33 |
TRF Limited - Net Assets Trend (2005–2025)
This chart illustrates how TRF Limited's net assets have evolved over time, based on quarterly financial data. Also explore balance sheet size of TRF Limited for the complete picture of this company's asset base.
Annual Net Assets for TRF Limited (2005–2025)
The table below shows the annual net assets of TRF Limited from 2005 to 2025. For live valuation and market cap data, see TRF stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | Rs834.68 Million ≈ $9.03 Million |
+113.67% |
| 2024-03-31 | Rs390.64 Million ≈ $4.22 Million |
+77.69% |
| 2023-03-31 | Rs219.84 Million ≈ $2.38 Million |
+107.48% |
| 2022-03-31 | Rs-2.94 Billion ≈ $-31.79 Million |
-8.50% |
| 2021-03-31 | Rs-2.71 Billion ≈ $-29.29 Million |
-51.05% |
| 2020-03-31 | Rs-1.79 Billion ≈ $-19.39 Million |
-30367.99% |
| 2019-03-31 | Rs-5.89 Million ≈ $-63.65K |
+99.71% |
| 2018-03-31 | Rs-2.00 Billion ≈ $-21.67 Million |
-147.62% |
| 2017-03-31 | Rs-809.19 Million ≈ $-8.75 Million |
-87.07% |
| 2016-03-31 | Rs-432.56 Million ≈ $-4.68 Million |
-406.41% |
| 2015-03-31 | Rs-85.42 Million ≈ $-923.75K |
-113.74% |
| 2014-03-31 | Rs621.47 Million ≈ $6.72 Million |
-23.90% |
| 2013-03-31 | Rs816.61 Million ≈ $8.83 Million |
-51.39% |
| 2012-03-31 | Rs1.68 Billion ≈ $18.17 Million |
-21.30% |
| 2011-03-31 | Rs2.13 Billion ≈ $23.09 Million |
+3.17% |
| 2010-03-31 | Rs2.07 Billion ≈ $22.38 Million |
+25.24% |
| 2009-03-31 | Rs1.65 Billion ≈ $17.87 Million |
+29.37% |
| 2008-03-31 | Rs1.28 Billion ≈ $13.81 Million |
+129.59% |
| 2007-03-31 | Rs556.20 Million ≈ $6.02 Million |
+30.18% |
| 2006-03-31 | Rs427.25 Million ≈ $4.62 Million |
+11.96% |
| 2005-03-31 | Rs381.60 Million ≈ $4.13 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to TRF Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 1808.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | Rs110.04 Million | 13.18% |
| Other Comprehensive Income | Rs1.91 Billion | 228.41% |
| Other Components | Rs4.40 Billion | 526.69% |
| Total Equity | Rs834.68 Million | 100.00% |
TRF Limited Competitors by Market Cap
The table below lists competitors of TRF Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Zedge Inc
NYSE MKT:ZDGE
|
$31.42 Million |
|
GoviEx Uranium Inc
V:GXU
|
$31.42 Million |
|
Wooree E&L Co. Ltd
KQ:153490
|
$31.43 Million |
|
Tycoons Worldwide Group (Thailand) Public Company Limited
BK:TYCN
|
$31.43 Million |
|
Asf Group Ltd
AU:AFA
|
$31.40 Million |
|
Sentronic International
TWO:3232
|
$31.40 Million |
|
Duc Long Gia Lai Group JSC
VN:DLG
|
$31.39 Million |
|
Gold Strike Resources Corp.
V:GSR
|
$31.38 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in TRF Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 390,640,000 to 834,677,000, a change of 444,037,000 (113.7%).
- Net income of 257,919,000 contributed positively to equity growth.
- Other comprehensive income increased equity by 1,459,860,000.
- Other factors decreased equity by 1,273,742,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Rs257.92 Million | +30.9% |
| Other Comprehensive Income | Rs1.46 Billion | +174.9% |
| Other Changes | Rs-1.27 Billion | -152.6% |
| Total Change | Rs- | 113.67% |
Book Value vs Market Value Analysis
This analysis compares TRF Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 3.48x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 7.61x to 3.48x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2005-03-31 | Rs34.68 | Rs263.97 | x |
| 2006-03-31 | Rs38.83 | Rs263.97 | x |
| 2007-03-31 | Rs50.54 | Rs263.97 | x |
| 2008-03-31 | Rs84.25 | Rs263.97 | x |
| 2009-03-31 | Rs113.01 | Rs263.97 | x |
| 2010-03-31 | Rs133.74 | Rs263.97 | x |
| 2011-03-31 | Rs131.59 | Rs263.97 | x |
| 2012-03-31 | Rs148.53 | Rs263.97 | x |
| 2013-03-31 | Rs69.71 | Rs263.97 | x |
| 2014-03-31 | Rs51.32 | Rs263.97 | x |
| 2015-03-31 | Rs-14.71 | Rs263.97 | x |
| 2016-03-31 | Rs-45.37 | Rs263.97 | x |
| 2017-03-31 | Rs-73.94 | Rs263.97 | x |
| 2018-03-31 | Rs-182.49 | Rs263.97 | x |
| 2019-03-31 | Rs-0.53 | Rs263.97 | x |
| 2020-03-31 | Rs-162.97 | Rs263.97 | x |
| 2021-03-31 | Rs-246.16 | Rs263.97 | x |
| 2022-03-31 | Rs-267.09 | Rs263.97 | x |
| 2023-03-31 | Rs17.66 | Rs263.97 | x |
| 2024-03-31 | Rs35.50 | Rs263.97 | x |
| 2025-03-31 | Rs75.86 | Rs263.97 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently TRF Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 30.90%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 21.36%
- • Asset Turnover: 0.36x
- • Equity Multiplier: 4.07x
- Recent ROE (30.90%) is above the historical average (25.51%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2005 | 10.39% | 1.98% | 1.04x | 5.02x | Rs1.49 Million |
| 2006 | 16.56% | 3.27% | 1.08x | 4.68x | Rs28.02 Million |
| 2007 | 36.27% | 5.81% | 1.20x | 5.19x | Rs146.09 Million |
| 2008 | 45.60% | 9.47% | 0.90x | 5.33x | Rs330.05 Million |
| 2009 | 32.56% | 5.59% | 1.14x | 5.10x | Rs280.52 Million |
| 2010 | 33.14% | 5.63% | 0.97x | 6.06x | Rs340.52 Million |
| 2011 | 1.31% | 0.17% | 1.21x | 6.35x | Rs-125.90 Million |
| 2012 | 8.21% | 1.01% | 1.08x | 7.52x | Rs-29.20 Million |
| 2013 | -119.53% | -8.22% | 0.81x | 17.94x | Rs-993.61 Million |
| 2014 | -51.12% | -2.46% | 0.90x | 23.14x | Rs-345.16 Million |
| 2015 | 0.00% | -5.77% | 0.82x | 0.00x | Rs-633.64 Million |
| 2016 | 0.00% | -3.24% | 0.83x | 0.00x | Rs-313.52 Million |
| 2017 | 0.00% | -2.50% | 0.80x | 0.00x | Rs-159.61 Million |
| 2018 | 0.00% | -30.53% | 0.40x | 0.00x | Rs-1.14 Billion |
| 2019 | 0.00% | -10.11% | 0.50x | 0.00x | Rs-345.09 Million |
| 2020 | 0.00% | -99.26% | 0.33x | 0.00x | Rs-1.67 Billion |
| 2021 | 0.00% | -81.72% | 0.27x | 0.00x | Rs-660.25 Million |
| 2022 | 0.00% | -18.12% | 0.35x | 0.00x | Rs63.50 Million |
| 2023 | 402.92% | 50.02% | 0.54x | 14.86x | Rs863.81 Million |
| 2024 | 88.58% | 24.72% | 0.45x | 7.92x | Rs306.98 Million |
| 2025 | 30.90% | 21.36% | 0.36x | 4.07x | Rs174.45 Million |
Industry Comparison
This section compares TRF Limited's net assets metrics with peer companies in the Specialty Industrial Machinery industry.
Industry Context
- Industry: Specialty Industrial Machinery
- Average net assets among peers: $37,677,440,843
- Average return on equity (ROE) among peers: 17.39%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| TRF Limited (TRF) | Rs850.89 Million | 10.39% | 3.03x | $31.41 Million |
| Aaron Industries Limited (AARON) | $550.00K | 66.55% | 18.36x | $31.35 Million |
| Ador Welding Limited (ADORWELD) | $1.47 Billion | 17.36% | 0.26x | $184.52 Million |
| The Anup Engineering Limited (ANUP) | $3.37 Billion | 15.88% | 0.28x | $446.74 Million |
| ATAM VALVES ORD (BSE) (ATAM) | $37.09 Million | 13.75% | 4.00x | $8.50 Million |
| Azad Engineering Limited (AZAD) | $1.20 Billion | 24.55% | 2.37x | $1.51 Billion |
| Bharat Heavy Electricals Limited (BHEL) | $323.31 Billion | 1.36% | 0.97x | $13.27 Billion |
| Cummins India Limited (CUMMINSIND) | $51.45 Billion | 18.15% | 0.38x | $15.79 Billion |
| Diamond Power Infrastructure Limited (DIACABS) | $-6.22 Billion | 0.00% | 0.00x | $899.30 Million |
| Diffusion Engineers Ltd (DIFFNKG) | $1.91 Billion | 16.05% | 0.44x | $120.60 Million |
| Ducon Infratechnologies Limited (DUCON) | $236.88 Million | 0.26% | 0.31x | $11.42 Million |
About TRF Limited
TRF Limited undertakes turnkey projects of material handling in India. It operates in Products & Services and Project & Services segments. The company offers hydraulic cone and double roll crushers, load haul dumpers, roller screens, grab type ship unloaders, stacker cum reclaimers, unabalance motor feeders and screens, rotary plough and apron feeders, travelling wagon and side discharge loaders,… Read more