TRF Limited has announced a significant leadership transition in its finance department, with the Board of Directors approving changes to the Chief Financial Officer position during a meeting held on December 11, 2025.

Leadership Transition Details

The company's Board unanimously approved two key decisions based on recommendations from the Nomination and Remuneration Committee:

Outgoing CFO Anand Chand

Anand Chand, who served as Chief Financial Officer and Key Managerial Personnel since November 16, 2021, submitted his resignation to pursue other opportunities within the Tata Steel Group. In his resignation letter, Chand expressed sincere gratitude to the Board members for their support during his tenure as CFO. His resignation becomes effective from the close of business hours on December 11, 2025.

New CFO Animesh Upadhyay Profile

Animesh Upadhyay has been appointed as the new Chief Financial Officer and Key Managerial Personnel, effective December 12, 2025. His professional credentials and experience include:

Professional Experience and Expertise

Upadhyay brings extensive experience from working in various capacities within the Finance and Accounts function. His career spans multiple verticals within the organization, including handling roles in Payroll Accounts, Finance Excellence Projects, and Global Mineral Company Accounts. The company highlighted his rich experience and depth of expertise gained through exposure to varied verticals and deputation opportunities.

According to the company's disclosure, Upadhyay possesses a deep understanding of handling various verticals in the Finance and Accounts function, positioning him well for his new role as CFO.

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board meeting commenced at 4:15 p.m. (IST) and concluded at 4:30 p.m. (IST) on December 11, 2025. The disclosure has been made available on the company's website at www.trf.co.in and communicated to both BSE Limited and National Stock Exchange of India Limited.

TRF Limited , a Tata Group company specializing in material handling equipment and turnkey projects, has successfully concluded a postal ballot for the re-appointment of Mr. Umesh Kumar Singh as Managing Director for an additional three-year term.

Key Details of the Approved Re-appointment

• Term: October 1, 2025 to September 30, 2028
• Current Term: October 1, 2022 to September 30, 2025
• Remuneration: ₹1,84,33,785 per annum (deputation cost from Tata Steel Limited)
• Voting Period: November 1-30, 2025
• Voting Method: Remote e-voting through NSDL platform
• Voting Result: 93.06% votes in favor of the re-appointment

About Umesh Kumar Singh

Mr. Singh, 56, brings over 30 years of experience in the steel industry to TRF Limited. His expertise spans various domains including:

• Procurement management
• Project management
• Supply chain management
• Total quality management
• Theory of constraint
• Tata business excellence model
• Operations

Prior to joining TRF Limited, Mr. Singh held significant positions within the Tata Group:

• Chief Project Procurement at Tata Steel for the Kalinganagar project (2011)
• Chief Operations & New Initiatives, Industrial By-Products Management Division at Tata Steel (2016)
• Executive Director and later Managing Director of Tata Pigments Limited (2020-2022)

Company Performance

TRF Limited has shown signs of financial improvement in recent years:

The company attributes this improvement to support from Tata Steel, including order placements and capital infusion, along with enhanced debtor collections and cost optimization efforts.

Voting Outcome

The special resolution for Mr. Singh's re-appointment received overwhelming support from shareholders, with 93.06% of votes cast in favor. This strong endorsement ensures leadership continuity for TRF Limited and reflects shareholders' confidence in Mr. Singh's ability to guide the company's future growth and performance.

The successful conclusion of this postal ballot demonstrates TRF Limited's commitment to transparent corporate governance and shareholder engagement. With Mr. Singh's re-appointment secured, the company is well-positioned to continue its trajectory of financial improvement and operational excellence in the coming years.