TRF MD, chairman, board of directors and AGM
NSE: TRFBSE: 505854Industrial ManufacturingSmall Cap
Share price at the NSE close on 23 Oct 2026. Previous close ₹208.54.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹218 Cr2,175th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 13 Oct 2026
- 4.3
- P/E without one-offsPrice to earnings without one-off items. Market cap divided by core profit: the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, less one-off items (exceptional items and the result of businesses sold or closed). Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes ₹46 crore of one-off items, the largest of them in the quarter to Sep 2026.
- 48.4
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 13 Oct 2026
- 2.4
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it. The filing of 13 Oct 2026
- 58.4%
- ROE without one-offsReturn on equity without one-off items. Core profit, the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders less one-off items (exceptional items and the result of businesses sold or closed), as a percentage of the same net worth as the return on equity. Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes ₹46 crore of one-off items, the largest of them in the quarter to Sep 2026.
- 5.2%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 13 Oct 2026
- 1.4%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Sep 2026. The filing of 13 Oct 2026
- 1.53
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 16,01463.6% delivered
TRF board of directors
At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares
- ChairpersonSamita ShahRelated to the promoter
- Company Secretary and Compliance OfficerAvishek Ghosh
8 directors4 independent1 executive3 non-executive
- Samita Shah · ChairpersonNon-executive · joined May 2024 · 1 listed board · 3 committee seats, 2 as chair
- Ramya HariharanIndependent · joined Sep 2019 · reappointed Sep 2024 · 81 months as independent · 4 listed boards · 4 as independent · 4 committee seats, 1 as chair
- Krishnava DuttIndependent · joined Oct 2019 · reappointed Oct 2024 · 80 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
- Pingali VenugopalIndependent · joined Jun 2024 · reappointed Jun 2024 · 24 months as independent · 1 listed board · 1 as independent · 3 committee seats, 1 as chair
- Sougata RayIndependent · joined Jun 2024 · reappointed Jun 2024 · 24 months as independent · 1 listed board · 1 as independent · 1 committee seat
- Akshay KhullarNon-executive · joined May 2024 · 1 listed board · 1 committee seat
- Sandeep BhatacharyaNon-executive · joined Oct 2024 · 1 listed board · 4 committee seats
- Umesh Kumar SinghExecutive · joined Oct 2022 · reappointed Oct 2025 · 1 listed board · 1 committee seat
An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.
1 director who left
- Ansuman Das, left 29 Apr 2025: Tenure Completion
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 12 May 20267 of 8 present3 independent · 42 days in between
- 30 Mar 20267 of 8 present4 independent · 59 days in between
- 29 Jan 20267 of 8 present4 independent
Audit Committee
Chair Krishnava Dutt
Ramya Hariharan, Pingali Venugopal, Sandeep Bhatacharya
- 12 May 20264 of 4 present3 independent · 12 days in between
- 26 Mar 20263 of 4 present3 independent · 48 days in between
- 29 Jan 20264 of 4 present3 independent
Nomination and remuneration committee
Chair Ramya Hariharan
Sougata Ray, Samita Shah
- 29 Apr 20262 of 3 present1 independent · 29 days in between
- 30 Mar 20263 of 3 present2 independent · 3 days in between
Stakeholders Relationship Committee
Chair Pingali Venugopal
Sougata Ray, Akshay Khullar, Umesh Kumar Singh
- 5 Feb 20264 of 4 present2 independent · 6 days in between
Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.
Statutory auditor
Named in the results for the quarter to Sep 2026.
- Price Waterhouse & Co Chartered Accountants LLPPeer-review certificate valid to Nov 2026
A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.
TRF AGM and shareholder votes
Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.TRF dividend history
Annual general meeting, 6 Aug 2026
26,057 shareholders on the register on 30 Jul 2026; present: 1 promoter and 52 others; votes counted by Promod Kumar Singh / P.K. Singh & Associates.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Reports of the Board of Directors and the Auditors thereon.MoreLess
Ordinary99.92% for0.08% againstAgainst: promoters 0.00% · institutions 0.00% · other public 7.47%
Turnout: all 34.49% · promoters 100.00% · institutions 0.91% · other public 0.56%
- To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Report of the Auditors thereon.Ordinary99.92% for0.08% against
Against: promoters 0.00% · institutions 0.00% · other public 7.47%
Turnout: all 34.49% · promoters 100.00% · institutions 0.91% · other public 0.56%
- Appointment of a Director in the place of Mr. Akshay Khullar (DIN: 10545101), who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and, being eligible, seeks reappointment.Ordinary99.92% for0.08% against
Against: promoters 0.00% · institutions 0.00% · other public 7.47%
Turnout: all 34.49% · promoters 100.00% · institutions 0.91% · other public 0.56%
- Ratification of Remuneration of Messrs Shome & Banerjee, Cost Accountants, appointed as the Cost Auditors of the Company for FY2026-27.Ordinary99.92% for0.08% against
Against: promoters 0.00% · institutions 0.00% · other public 7.47%
Turnout: all 34.49% · promoters 100.00% · institutions 0.91% · other public 0.56%
- Commission to Non-Executive Directors of the Company.Ordinary99.84% for0.16% against
Against: promoters 0.00% · institutions 0.00% · other public 15.15%
Turnout: all 34.49% · promoters 100.00% · institutions 0.91% · other public 0.56%
- Material modification of approved Related Party Transaction(s) with Tata Steel Utilities and Infrastructure Services Limited.OrdinaryPromoters have an interest in it92.56% for7.44% against
Against: promoters 0.00% · institutions 0.00% · other public 7.49%
Turnout: all 0.37% · promoters 0.00% · institutions 0.91% · other public 0.56%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 13 Jun 2026, 2 resolutions
26,152 shareholders on the register on 8 May 2026; votes counted by Pramod Kumar Singh / P.K. Singh & Associates.The company's voting result (opens in a new tab)
- Material related Party Transaction(s) with Tata Steel Limited - Operational TransactionOrdinaryPromoters have an interest in it99.02% for0.98% against
Against: promoters 0.00% · institutions 0.00% · other public 0.98%
Turnout: all 3.22% · promoters 0.00% · institutions 0.25% · other public 4.93%
- Material Related Party Transaction(s) with Tata Steel Utilities and Infrastructure Services Limited - Operational TransactionOrdinaryPromoters have an interest in it99.02% for0.98% against
Against: promoters 0.00% · institutions 0.00% · other public 0.98%
Turnout: all 3.22% · promoters 0.00% · institutions 0.25% · other public 4.93%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 30 Nov 2025, 1 resolution
27,336 shareholders on the register on 24 Oct 2025; votes counted by Pramod Kumar Singh / P.K. Singh & Associates.The company's voting result (opens in a new tab)
- Re-appointment of Mr. Umesh Kumar Singh (DIN: 08708676) as Managing Director and payment of remunerationSpecial93.06% for6.94% against
Against: promoters 0.00% · institutions 0.00% · other public 92.22%
Turnout: all 36.90% · promoters 100.00% · institutions 1.99% · other public 4.25%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 10 Jul 2025, 5 resolutions
26,940 shareholders on the register on 3 Jul 2025; present: 1 promoter and 66 others; votes counted by Mr. P.K. Singh / M/s P.K. Singh & Associates.The company's voting result (opens in a new tab)
- Adoption of Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2025, together with the Reports of the Board of Directors and Auditor thereon.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 34.52% · promoters 99.95% · institutions 7.49% · other public 0.55%
- Adoption of Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2025, together with the Report of the Auditor thereon.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 34.52% · promoters 99.95% · institutions 7.49% · other public 0.55%
- Appointment of a Director in place of Ms. Samita Shah (DIN: 02350176), who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and, being eligible, seeks re-appointment.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.04%
Turnout: all 34.52% · promoters 99.95% · institutions 7.49% · other public 0.55%
- Appointment of M/s D. Dutt & Co., as Secretarial Auditor of the Company for a period of five years, from Financial Year 2025-26 through Financial Year 2029-30.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 34.52% · promoters 99.95% · institutions 7.49% · other public 0.55%
- Ratification of Remuneration of M/s Shome & Banerjee, Cost Auditor of the Company for Financial Year 2025-26.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 34.52% · promoters 99.95% · institutions 7.49% · other public 0.55%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 22 May 2025, 2 resolutions
27,061 shareholders on the register on 18 Apr 2025; votes counted by Promod Kumar Singh / P.K. Singh & Associates.The company's voting result (opens in a new tab)
- Material Related Party Transaction(s) with Tata Steel Limited - Operational TransactionOrdinaryPromoters have an interest in it98.81% for1.19% against
Against: promoters 0.00% · institutions 0.00% · other public 1.19%
Turnout: all 2.67% · promoters 0.00% · institutions 0.00% · other public 4.08%
- Material Related Party Transaction(s) with Tata Steel Limited - Financial TransactionOrdinaryPromoters have an interest in it98.81% for1.19% against
Against: promoters 0.00% · institutions 0.00% · other public 1.19%
Turnout: all 2.67% · promoters 0.00% · institutions 0.00% · other public 4.08%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 1 Jan 2025, 1 resolution
26,576 shareholders on the register on 22 Nov 2024; votes counted by Pramod Kumar Singh / P.K. Singh & Associates.The company's voting result (opens in a new tab)
- Appointment of Mr. Sandeep Bhattacharya (DIN: 07071894) as Non-Executive DirectorOrdinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.54%
Turnout: all 34.64% · promoters 99.95% · institutions 0.00% · other public 0.81%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 2 Aug 2024, 11 resolutions
Present: 2 promoters and 60 others.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2024, together with the Reports of the Board of Directors and the Auditors thereonMoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.30%
Turnout: all 34.64% · promoters 100.00% · institutions 0.00% · other public 0.80%
- To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2024, together with the Report of the Auditors thereon.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.30%
Turnout: all 34.65% · promoters 100.00% · institutions 0.00% · other public 0.80%
- To appoint a Director in place of Mr. Sanjib Nanda (DIN: 01045306), who retires by rotation in terms of Section 152(6) of the Companies Act, 2013, and being eligible, seeks re-appointment.Ordinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.48%
Turnout: all 34.65% · promoters 100.00% · institutions 0.00% · other public 0.80%
- Ratification of Remuneration of Cost AuditorsOrdinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.73%
Turnout: all 34.65% · promoters 100.00% · institutions 0.00% · other public 0.80%
- Appointment of Ms. Samita Shah (DIN: 02350176) as Non- executive DirectorOrdinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.73%
Turnout: all 34.65% · promoters 100.00% · institutions 0.00% · other public 0.80%
- Appointment of Mr. Akshay Khullar (DIN: 10545101) as Non- executive DirectorOrdinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.73%
Turnout: all 34.65% · promoters 100.00% · institutions 0.00% · other public 0.80%
- Re-appointment of Ms. Ramya Hariharan (DIN: 06928511) as an Independent DirectorSpecial99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.74%
Turnout: all 34.65% · promoters 100.00% · institutions 0.00% · other public 0.80%
- Re-appointment of Mr. Krishnava Dutt (DIN: 02792753) as an Independent DirectorSpecial99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.82%
Turnout: all 34.65% · promoters 100.00% · institutions 0.00% · other public 0.80%
- Appointment of Mr. Pingali Venugopal (DIN: 05166520) as an Independent DirectorSpecial99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.73%
Turnout: all 34.65% · promoters 100.00% · institutions 0.00% · other public 0.80%
- Appointment of Mr. Sougata Ray (DIN: 00134136) as an Independent DirectorSpecial99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.73%
Turnout: all 34.65% · promoters 100.00% · institutions 0.00% · other public 0.80%
- Commission to Non- executive Directors of the CompanyOrdinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.73%
Turnout: all 34.65% · promoters 100.00% · institutions 0.00% · other public 0.80%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 29 Mar 2024, 1 resolution
The company's voting result (opens in a new tab)
- Material Related Party Transaction(s) with Tata Steel Limited for FY 2024-25 for Operational MattersOrdinaryPromoters have an interest in it98.84% for1.16% against
Against: promoters 0.00% · institutions 0.00% · other public 1.16%
Turnout: all 1.25% · promoters 0.00% · institutions 0.00% · other public 1.92%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
- The board is made up as the listing rules require
- Yes
- The board has a regular chairperson
- Yes
- The company has a risk management committee
- No
- The chair is related to the managing director
- No
- The filing has a part on fines and penalties
- No
- The filing has a part on tax disputes
- No
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.