TRF Limited , a TATA Enterprise, has announced its financial results for the second quarter of fiscal year 2026, revealing a significant net loss primarily due to exceptional costs related to an employee separation scheme.

Financial Performance

For the quarter ended September 30, 2025, TRF Limited reported:

The company's revenue from operations declined by 31.7% compared to the same quarter in the previous fiscal year. This decrease in revenue was accompanied by a substantial shift from profit to loss.

Exceptional Item: Employee Separation Scheme

The primary factor contributing to the quarterly loss was an exceptional item of Rs 1,130.95 crore. This cost is attributed to an Employee Separation Scheme (ESS) implemented by the company. Key points of the ESS include:

• Approved by the Board of Directors on May 2, 2025
• Launched on July 18, 2025 and closed on August 18, 2025
• 52 employees voluntarily separated from the company
• Separation effective from September 1, 2025

Segment Performance

TRF Limited operates in two business segments:

1. Projects & Services
2. Products & Services

The Products & Services segment showed stronger performance compared to the Projects & Services segment during the quarter.

Other Financial Highlights

• Basic Earnings Per Share (EPS) for the quarter stood at negative Rs 6.06
• The Board of Directors approved these financial results in their meeting held on October 28, 2025

Half-Year Performance

For the six-month period ending September 30, 2025:

• The company achieved a net profit of Rs 1,033.18 crore
• This indicates that the first quarter's performance was strong enough to partially offset the second quarter's losses

Outlook

While the employee separation scheme has resulted in a significant one-time cost, it may lead to reduced operational expenses in the future. The company's performance in the coming quarters will be crucial to assess the impact of this restructuring on its overall financial health.

Investors and stakeholders will likely be watching closely to see how TRF Limited navigates the challenges posed by the revenue decline and manages to return to profitability in the subsequent quarters.

TRF Limited , a prominent player in the engineering sector, has announced the re-appointment of Umesh Kumar Singh as its Managing Director and Key Managerial Personnel for an additional three-year term. This decision, made by the company's Board of Directors, showcases confidence in Singh's leadership and vision for the organization.

Board Approval and Tenure Details

The Board of Directors of TRF Limited unanimously approved Singh's re-appointment during a meeting held on August 28, 2025. The new term is set to commence on October 1, 2025, and will extend through September 30, 2028, subject to shareholder approval. This decision follows a recommendation from the company's Nomination and Remuneration Committee.

Umesh Kumar Singh's Background

Umesh Kumar Singh brings a wealth of experience to his role at TRF Limited. With over three decades of expertise in the steel industry, Singh has demonstrated proficiency in various crucial areas:

• Procurement Management
• Project Management
• Supply Chain Management
• Total Quality Management (TQM)
• Theory of Constraint
• Tata Business Excellence Model (TBEM)
• Operations

Singh's journey with TRF Limited began on October 1, 2022, when he assumed the position of Managing Director. Prior to this role, he served as the Managing Director of Tata Pigments Limited and held various positions at Tata Steel since joining the company in 1993 as a Graduate Trainee.

Educational Background

Singh's educational qualifications include:

• B.E. (Mechanical) from BIT Mesra
• Diploma in Management Studies from XIM, Bhubaneswar

Key Points of the Re-appointment

1. The re-appointment is subject to shareholder approval.
2. Singh's position is not liable to retire by rotation.
3. The Board has confirmed that Singh has no inter-se relations with other Board members.
4. Singh is not debarred from holding the position of Director by any regulatory authorities, including the Securities and Exchange Board of India (SEBI).

Company Disclosure

TRF Limited made this announcement in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.