TRF Limited returned to profitability in the quarter ended June 30, 2026, reporting a consolidated net profit of ₹187.65 lakh. This marks a recovery from the net loss of ₹690.81 lakh recorded in the quarter ended March 31, 2026. Total income from operations for the quarter stood at ₹2,603.20 lakh, an increase from ₹1,938.56 lakh in the prior quarter and ₹2,341.71 lakh in the corresponding period of the previous year.

The unaudited consolidated financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on July 16, 2026. The company filed the results with the stock exchanges under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

On a standalone basis, the company reported a net profit before exceptional items and tax of ₹213.37 lakh for Q1FY26, compared to a loss of ₹630.24 lakh in the quarter ended March 31, 2026. Total income from operations for the standalone entity was ₹2,603.20 lakh for the quarter ended June 30, 2026.

Consolidated Financial Results

Standalone Financial Results

TRF Limited has released its 63rd Annual Report for FY 2025-26, reporting a standalone revenue from operations of ₹8,503.22 lakh and a consolidated loss of ₹447.37 lakh. The 63rd Annual General Meeting (AGM) is scheduled for Thursday, August 6, 2026, at 11:30 a.m. IST via video conferencing. Shareholders will consider the adoption of audited standalone and consolidated financial statements for the financial year ended March 31, 2026, along with the re-appointment of Director Mr. Akshay Khullar, who retires by rotation.

Financial Performance

On a standalone basis, TRF Limited reported revenue from operations of ₹8,503.22 lakh for FY 2025-26, compared to ₹12,073.48 lakh in the previous year. Profit before tax stood at ₹211.05 lakh, against ₹2,762.70 lakh in FY 2024-25. Total income from operations on a standalone basis was ₹9,951.23 lakh (previous year: ₹13,540.73 lakh). The Company incurred exceptional items of ₹555.48 lakh during the year, primarily related to employee separation compensation of ₹1,130.95 lakh under a Voluntary Retirement Scheme and an impairment reversal of ₹583.14 lakh in the carrying value of its subsidiary TRF Singapore Pte. Ltd.

On a consolidated basis, total income from operations stood at ₹10,095.58 lakh (previous year: ₹13,878.86 lakh), while the consolidated loss for the year was ₹447.37 lakh, compared to a profit before tax of ₹3,093.14 lakh in the previous year. Total comprehensive income on a consolidated basis was ₹90.26 lakh (previous year: ₹2,801.24 lakh). The Board has not recommended any dividend for FY 2025-26 in view of accumulated losses from previous years.

The following table summarises the key standalone and consolidated financial results:

Operational Highlights

During FY 2025-26, the Company manufactured approximately 2,100 Metric Tonnes (MT) of finished goods, comprising ~1,500 MT of Idlers, ~450 MT of Equipment & Spares, and ~150 MT of Pulleys, primarily for Tata Steel Limited and other Tata Group companies. Significant milestones were achieved across key external projects at North Karanpura (Jharkhand) and Bhadradri (Telangana). The Company also successfully commissioned Wagon Tippler and Side Arm Charger systems at a project in Uttar Pradesh, improving material handling capacity and reducing wagon turnaround time. Additionally, the Company completed the entire Tata Steel Hooghly Met Coke Division's Circuit Debottlenecking engineering across all four packages within four months. Through focused collection efforts, the Company realised ₹12,307 lakh from its customers during the year, positively impacting working capital and the bottom line. Capital expenditure for FY 2025-26 stood at ₹785.24 lakh, primarily towards plant and equipment, funded through internal accruals. The Company's liquidity position as on March 31, 2026, was ₹23,113.13 lakh, comprising cash, bank balances, and current investments.

Segment-wise, the Projects & Services segment generated revenue of ₹531.17 lakh (previous year: ₹1,565.25 lakh) with a segmental profit of ₹89.27 lakh, while the Products & Services segment posted revenue of ₹8,013.55 lakh (previous year: ₹10,533.28 lakh) with a segmental profit of ₹1,009.15 lakh.

Special Business at AGM

The AGM agenda includes several special resolutions. Shareholders will consider ratifying the remuneration of ₹2 lakh plus applicable taxes payable to M/s Shome & Banerjee, Cost Accountants, for the audit of cost records for FY 2026-27. The Company also seeks approval to pay commission to Non-Executive Directors not exceeding 1% of net profits per annum for three years commencing FY 2026-27.

Related Party Transaction

A key agenda item is the approval of a material modification to related party transactions with Tata Steel Utilities and Infrastructure Services Limited (TSUISL). Shareholders had previously approved transactions aggregating ₹1,561 lakh via postal ballot on June 13, 2026. The Company now proposes to increase this value by ₹1,439 lakh, bringing the total aggregate transaction value to ₹3,000 lakh for FY 2026-27. These transactions involve receipt of services such as civil jobs, repair, maintenance, and utility services.

E-Voting and AGM Participation

Remote e-voting will commence on August 1, 2026, at 9:00 a.m. IST and conclude on August 5, 2026, at 5:00 p.m. IST. The record date for determining eligibility is Thursday, July 30, 2026. Members can participate in the AGM through video conferencing, with the facility available to at least 1,000 members on a first-come, first-served basis.

In compliance with Regulation 36 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, TRF Limited is sending physical letters providing the web-link and exact pathway where complete details of the 63rd Annual Report are available to shareholders who have not registered their e-mail address with the Company, Registrar and Transfer Agent, or Depositories. The Annual Report and Notice can be accessed on the Company's website at https://trf.co.in/investors-relations/annual-reports/ .