TRF Limited (TRF) - Net Assets

Latest as of September 2025: Rs850.89 Million INR ≈ $9.20 Million USD

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 Limited strategic asset allocation index to assess the company's strategic physical and investment asset allocation.

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. For live market cap and overall valuation, see TRF Limited market capitalisation.

Annual Net Assets for TRF Limited (2005–2025)

The table below shows the annual net assets of TRF Limited from 2005 to 2025. Also explore TRF Limited (TRF) net asset momentum to track the company's year-over-year net asset growth rate.

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
Ovaro Kiinteistosijoitus Oyj HE:OVARO	$25.62 Million
Pamapol S.A. WAR:PMP	$25.63 Million
LMS Co. Ltd KQ:073110	$25.63 Million
Milae Bioresources Co. Ltd KQ:218150	$25.63 Million
Sin-Kung Logistics Berhad KLSE:0305	$25.61 Million
ISPD Network S.A. PA:ALISP	$25.61 Million
Sakuma Exports Limited NSE:SAKUMA	$25.60 Million
Damartex PA:ALDAR	$25.60 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: 2.84x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has decreased from 6.21x to 2.84x 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	Rs215.25	x
2006-03-31	Rs38.83	Rs215.25	x
2007-03-31	Rs50.54	Rs215.25	x
2008-03-31	Rs84.25	Rs215.25	x
2009-03-31	Rs113.01	Rs215.25	x
2010-03-31	Rs133.74	Rs215.25	x
2011-03-31	Rs131.59	Rs215.25	x
2012-03-31	Rs148.53	Rs215.25	x
2013-03-31	Rs69.71	Rs215.25	x
2014-03-31	Rs51.32	Rs215.25	x
2015-03-31	Rs-14.71	Rs215.25	x
2016-03-31	Rs-45.37	Rs215.25	x
2017-03-31	Rs-73.94	Rs215.25	x
2018-03-31	Rs-182.49	Rs215.25	x
2019-03-31	Rs-0.53	Rs215.25	x
2020-03-31	Rs-162.97	Rs215.25	x
2021-03-31	Rs-246.16	Rs215.25	x
2022-03-31	Rs-267.09	Rs215.25	x
2023-03-31	Rs17.66	Rs215.25	x
2024-03-31	Rs35.50	Rs215.25	x
2025-03-31	Rs75.86	Rs215.25	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: $43,574,207,300
Average return on equity (ROE) among peers: 4.73%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
TRF Limited (TRF)	Rs850.89 Million	10.39%	3.03x	$25.62 Million
Aaron Industries Limited (AARON)	$550.00K	66.55%	18.36x	$27.17 Million
Ador Welding Limited (ADORWELD)	$1.26 Billion	17.96%	0.32x	$184.52 Million
The Anup Engineering Limited (ANUP)	$5.28 Billion	19.58%	0.53x	$354.91 Million
ATAM VALVES ORD (BSE) (ATAM)	$110.08 Million	12.41%	0.78x	$7.14 Million
Azad Engineering Limited (AZAD)	$908.92 Million	12.65%	1.82x	$1.95 Billion
Bharat Heavy Electricals Limited (BHEL)	$342.09 Billion	4.25%	1.07x	$16.57 Billion
Cummins India Limited (CUMMINSIND)	$75.61 Billion	26.45%	0.34x	$15.29 Billion
Diamond Power Infrastructure Limited (DIACABS)	$6.55 Billion	-122.90%	2.75x	$2.09 Billion
Diffusion Engineers Ltd (DIFFNKG)	$3.69 Billion	9.72%	0.20x	$178.99 Million
Ducon Infratechnologies Limited (DUCON)	$238.32 Million	0.60%	0.42x	$4.32 Million

About TRF Limited

NSE:TRF India Specialty Industrial Machinery

Market Cap

$25.62 Million

Rs2.37 Billion INR

Market Cap Rank

#24396 Global

#1342 in India

Share Price

Rs215.25

Change (1 day)

-1.93%

52-Week Range

Rs213.00 - Rs380.65

All Time High

Rs662.55