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

Key Details of the Proposed 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, 2025 (9:00 AM) to November 30, 2025 (5:00 PM)
• Voting Method: Remote e-voting through NSDL platform

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 Process

Eligible shareholders can cast their votes electronically through the NSDL e-voting platform. The company has made arrangements for shareholders to register their email addresses with the Registrar and Transfer Agent, MUFG Intime India Private Limited, to receive the postal ballot notice electronically.

TRF Limited's Board of Directors recommends the special resolution for Mr. Singh's re-appointment, citing his significant contributions and proven track record in bringing about positive changes in his areas of responsibility.

Shareholders are encouraged to review the detailed terms and conditions of the re-appointment, which are available in the postal ballot notice, before casting their votes.

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.