EN DE
Check 35,000+ stocks against 26 valuation models and 37 quality factors
Data-driven stock valuation

TRF Limited (TRF) fair value: what the stock is really worth

As of Oct 1, 2026: fair value of TRF Limited ₹52.78, price ₹192, upside -72.6%, quality 26 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Industrials · IN · ISIN INE391D01019

TL Some data Sep 27, 2026

TRF Limited

TRF · NSE

Weakest SetupStrongly overvalued and low quality.

!Fair value ₹52.78 · Strongly overvalued (−72.6%)
!Quality 26/100
!Mixed Growth (revenue YoY −29.6 %/yr)
!Loss-making · -5.3% net margin (TTM)
!High debt · generates free cash flow
!Trails peers (3/11)
!Narrow moat 5/100
!Evidence only medium, so the estimate is less certain
!Weak on balance sheet: 23 out of 100
Watch TRF Limited for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card. Watch for free Pro now: $1 first month

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

₹662.55 ₹88.05 Fair Value ₹52.78 Apr 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.

How to read this chart

60‑month range ₹88.05 – ₹662.55 · fair‑value band ₹15.27 – ₹52.78 · the ₹192.33 price screens above the ₹52.78 fair value. Dashed = 300-day average. As of Sep 27, 2026.

Follow TRF in your weekly email

Every Wednesday you see whether TRF is on track or worth a review, plus price against fair value. Free, up to 3 stocks.

We send you a confirmation link. Unsubscribe with one click.

Which stocks are undervalued right now? Check free Discover now →

Company profile

TRF Limited undertakes turnkey projects of material handling in India. It operates in Products & Services and Project & Services segments.

Show more

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, goose neck level luffing crane, ring granulators, rotary breakers, truflo screens, travelling trippers, ultraflo vibrating feeders and screens, pulleys, and wagon-tippler-with-side-arm-charger, as well as sectional and mine conveyors. It also provides services relating to design and engineering, supervision, manpower deployment, leasing of facilities, etc.; spare parts; and construction contracts and related services; life cycle services; operations and maintenance services; and undertakes refurbishment jobs of steel plant equipment, such as ladle and tundish repair, as well as electrical repair works. The company serves the infrastructure sector, including power and ports; and industrial sector, such as steel plants, cement, fertilizers, and mining. TRF Limited was incorporated in 1962 and is based in Jamshedpur, India.

Stock analysis

TRF Limited (TRF) currently trades at ₹192.33, while our model-based Fair Value estimate is ₹52.78, 72.6% below the price, so the stock looks overvalued today.

Show more

Valuation

Bull case: the Growth DCF group reads highest at a median of ₹84.71 per share, and 0 of the 4 models we run sit above the ₹192.33 price.

Bear case: the DCF Models group reads lowest at ₹8.34, and 4 of the 4 models stay below the price. Evidence for this calculation is medium.

Scenario range: ₹15.27 (bear) to ₹52.78 (bull), the price of ₹192.33 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 26/100 (below-average quality), in the Industrials sector.

Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.

TRF Limited reported revenue of ₹850M in FY2026 versus ₹1.3B in FY2022, a compound −9.6%/yr. Reported net income was −₹44.7M in FY2026.

Key figures

Market cap ₹2.7B (≈ $27.6M) · P/S ratio 3.12 · EPS (TTM) ₹−4.07 · Net margin −5.3% · Return on equity −5.3% · Return on assets (EBIT) 8.2% · Operating margin −34.9% · Revenue (TTM) ₹850M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 49% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −49% fair-value upside, at −73%, TRF screens richer than that median.

Fair Value models

Bear ₹15.27 Fair Value ₹52.78 Bull ₹52.78
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF ₹30.68 ₹80.75 ₹170.58 74
Growth DCF ₹36.47 ₹84.71 ₹164.60 73
5Y Revenue Exit n/a n/a ₹15.30 69
All 6 models by family
DCF Models
FCF DCF ₹30.68 ₹80.75 ₹170.58 74
5Y Revenue Exit n/a n/a ₹15.30 69
10Y Revenue Exit n/a ₹8.34 ₹24.12 64
Asset-Based
NCAV (Graham) ₹38.33 ₹51.37 ₹76.67 54
Growth DCF
Growth DCF ₹36.47 ₹84.71 ₹164.60 73
Rev-Margin DCF n/a n/a ₹20.33 69

Open the full fair value analysis →

Notify me when TRF reaches fair value

Put TRF on your watchlist. We get in touch as soon as price and fair value meet or the trend turns.

Set up alert →

Quality Score breakdown

Overall quality 26/100

Of which business quality 28 · Market factors (momentum, volatility) 28

Profitability 7
Margins and returns on capital today
Quality Growth 0
Are margins and returns improving?
Cashflow 31
Earnings quality: real cash, not paper profit
Fin. Strength 15
Balance sheet, leverage, solvency risk
Investment 48
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 12
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 90
Share count: buybacks or dilution?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 55/100
Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−29.0% (2021) → −2.7% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

Growth Forecast

A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+14.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +10.0% a year for the price.

TRF screens overvalued: fair value 73% below the price. Compare with GE Vernova Inc →

Compare TRF Limited with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Specialty Industrial Machinery · 791 stocks

Beats the industry median on 3/10 measures
Overall it trails its industry peers.
Valuation
Quality Score 26 · Bottom 25%
Fair Value upside −72.6% · Bottom 25%
Profitability
Return on assets 1.6% · Below median
Net margin (TTM) −5.3% · Bottom 25%
Operating margin (TTM) −34.9% · Bottom 25%
Growth and dividend
Revenue growth −28.5% · Bottom 25%
Balance sheet
Debt / equity 1.53× · Highest 25%

Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper

P/S (TTM) 0.03× · Cheapest 25%
P/FCF 0.6× · Cheapest 25%
EV/EBITDA 10.1× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)0 · sector 28
PAST (return on equity)0 · sector 27
HEALTH (low debt)23 · sector 96
DIVIDEND (yield)0 · sector 26

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
GE Vernova Inc GEV $950.49 $142.61 −85%
SIE SIE €271.90 €150.42 −45%
Eaton Corporation ETN $433.27 $173.12 −60%
Parker-Hannifin Corporation PH $970.37 $494.81 −49%
Emerson Electric Co EMR $155.10 $62.54 −60%
Illinois Tool Works Inc ITW $257.28 $153.33 −40%
Cummins Inc CMI $516.57 $359.11 −30%
AMETEK, Inc AME $250.74 $125.77 −50%
Rockwell Automation, Inc ROK $434.15 $139.31 −68%
Sandvik AB SAND kr 378.00 kr 193.59 −49%

Explore undervalued stocks

More undervalued Industrials stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued High-Quality StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend Stocks

Try a ready-made strategy

Pick a strategy and jump into the live analysis with that exact screen applied.

🥇 Backtested Best 🏆 Big Names ⭐ Top Rated 💎 Quality on Sale 🚀 Profitable Growth 🧊 Quality Compounders 💵 Dividend Stars 📈 Strong Momentum 📉 Fallen Angels ⚖️ Deeply Undervalued 🔍 Small-Cap Gems 🏰 Moat at a Fair Price 💼 Insider Buying 🎩 Buffett-Style Quality 📚 Peter Lynch GARP 🧮 Greenblatt Magic Formula 🛡️ Graham Defensive

Discover tools

Stock screenerFilter by region, size and sector Compare toolTwo stocks side by side Extrinsic Value Calculator…Calculator with industry benchmark Peter Lynch Fair Value Formula &…Calculator with industry benchmark
Run the numbers yourself: free valuation calculators
DCF CalculatorGraham NumberPeter Lynch FormulaDDM CalculatorFama-French ModelIntrinsic Value
For bloggers & editors: embed code + live data

For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.

TRF Limited · Fair Value
₹52.78 −73%Fair Value
Calculator →

Cite: Fair Value Calculator (2026). "TRF Limited Fair Value". https://www.fairvalue-calculator.com/stock/TRF

Frequently asked questions

Is TRF Limited (TRF) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹52.78 versus a price of ₹192.33, about −73% upside (overvalued).
What is the fair value of TRF?
Our model-based fair value for TRF Limited is ₹52.78 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹192.33.
What is the quality score of TRF?
TRF Limited has a Quality Score of 26/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for TRF Limited (TRF)?
Our model-based price target is the fair value of ₹52.78 (as of Sep 27, 2026) from 6 valuation models. Cautious scenario ₹15.27, optimistic scenario ₹52.78. It is a calculation from audited fundamentals, not an analyst target.
What is the TRF Limited stock forecast for 2026?
Our models put fair value at ₹52.78, about −73% upside versus a price of ₹192.33 (overvalued). Cautious scenario ₹15.27, optimistic scenario ₹52.78. The calculation is refreshed regularly with new filings.
What is the revenue of TRF Limited (TRF)?
TRF Limited reported trailing-twelve-month revenue of about ₹850M (latest available figure, as of Sep 27, 2026).
What growth is priced into TRF Limited (TRF)?
For today's price to be fair in a discounted-cash-flow model, TRF Limited would have to grow free cash flow by +14.6 % per year for five years (discount rate 10.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -5.7 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of TRF use?
Our models discount TRF Limited at 10.9 %: a base by market capitalisation (nano), damped by beta 0.26, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For TRF Limited that is +14.6 % per year a year over ten years, using the same discount rate (10.9 %) and the same formula as our fair value.
How much growth has TRF Limited (TRF) delivered so far?
Over the past 5 years revenue at TRF Limited grew -5.7 % a year. The price currently implies +14.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of TRF Limited (TRF) growing?
The median revenue growth in the sector is +6.3 % a year. That is the yardstick for the growth priced into TRF Limited (+14.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of TRF Limited (TRF)?
The free-cash-flow yield on the price is 2.15 %: that much free cash flow TRF Limited produces per unit of market value. When it exceeds the discount rate of our models (10.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of TRF Limited (TRF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For TRF Limited it is ₹52.78 per share (as of Sep 27, 2026), against a price of ₹192.33. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is TRF Limited stock overvalued or undervalued in 2026?
As of Sep 27, 2026, TRF trades above its calculated fair value: price ₹192.33, fair value ₹52.78, a gap of about −73% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TRF?
No. The price is what the market pays today (₹192.33); the fair value is what the company's own numbers justify (₹52.78). For TRF Limited the two are ₹139.55 per share apart. That gap is exactly why we show both numbers side by side.
How much is TRF Limited worth?
The market values TRF Limited at about ₹2.7B (market capitalisation, as of Sep 27, 2026). Per share that is ₹192.33; our models calculate a fair value of ₹52.78 per share.
What do the bullish and bearish scenarios say about TRF?
Our models span a range for TRF Limited: cautious scenario ₹15.27, base ₹52.78, optimistic ₹52.78 per share (as of Sep 27, 2026, price ₹192.33). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of TRF Limited (TRF)?
Balance-sheet figures for TRF Limited (as of Sep 27, 2026): return on equity −5.3%, debt of 1.53 per unit of equity. They feed the Quality Score of 26/100, which measures business quality independently of the share price.
How far is TRF from its 52-week high?
TRF Limited trades at ₹192.33, about 49% below its 52-week high of ₹380.65 and at the low of ₹192.33 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹52.78 is for.
Which stocks are comparable to TRF Limited?
From the same area (Industrials) we also value GE Vernova Inc, SIE, Eaton Corporation, Parker-Hannifin Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is TRF Limited stock attractive at the current price?
The data as of Sep 27, 2026: price ₹192.33, calculated fair value ₹52.78 (−73%), Quality Score 26/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TRF calculated?
We run TRF Limited through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹52.78, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. TRF Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of TRF Limited (TRF)?
The closing price on Oct 1, 2026 was ₹192.33. Our model-based fair value is ₹52.78, about −73% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with TRF Limited right now?
The price sits above even our optimistic bull case (₹52.78). The favourable scenario is already priced in. Weak quality (26/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (₹15.27 to ₹52.78). The outcome hinges heavily on assumptions, so read the point estimate with caution.

Key figures of TRF Limited

How large is the market capitalisation of TRF Limited (TRF)?
The market capitalisation of TRF Limited is ₹2.7B (≈ $27.6M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of TRF Limited (TRF)?
The price-to-sales ratio of TRF Limited is 3.12 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of TRF Limited (TRF)?
Earnings per share at TRF Limited are ₹−4.07. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of TRF Limited (TRF)?
The net margin of TRF Limited is −5.3% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of TRF Limited (TRF)?
The return on equity (ROE) of TRF Limited is −5.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of TRF Limited (TRF)?
On an EBIT basis the return on assets of TRF Limited is 8.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of TRF Limited (TRF)?
The operating margin of TRF Limited is −34.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at TRF Limited (TRF)?
Revenue at TRF Limited is growing −28.5% versus a year earlier (3y avg −21.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at TRF Limited (TRF)?
Earnings per share at TRF Limited are growing −49.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does TRF Limited (TRF) carry?
The net debt of TRF Limited is ₹1.2B (fiscal year 2026, ≈ 25.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed

Watch TRF Limited in the live analysis

One click puts TRF Limited on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.

Watch for free →

Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.