TRF shareholders and shareholding pattern
NSE: TRFBSE: 505854Industrial ManufacturingSmall Cap
Last close ₹197.86down ₹10.68 (5.12%)BSE ₹198.20
Share price at the NSE close on 23 Oct 2026. Previous close ₹208.54.
52-week range of traded prices to 23 Oct 2026
₹190.00Low, 9 Oct 2026₹349.90High, 27 Oct 2025
- 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
Who owns TRF, filing by filing
Per cent of the company's shares. The last ten years of filings, from Dec 2016; the latest is the filing for Sep 2026.
Sep 2026 filing
- Promoters34.12%
- Foreign institutions0.26%
- Indian institutions0.02%
- Governments0.01%
- Individuals and others65.59%
Shareholding pattern, per cent, from Sep 2022
- Promoters
- Foreign institutions
- Indian institutions
- Governments
- Individuals and others
| Per cent | Dec 2016Filed 19 Jan | Mar 2017Filed 14 Apr | Jun 2017Filed 13 Jul | Sep 2017Filed 16 Oct | Dec 2017Filed 18 Jan | Mar 2018Filed 16 Apr | Jun 2018Filed 18 Jul | Sep 2018Filed 12 Oct | Dec 2018Filed 14 Jan | Mar 2019Filed 18 Apr | Jun 2019Filed 19 Jul | Sep 2019Filed 22 Oct | Dec 2019Filed 20 Jan | Mar 2020Filed 8 Apr | Jun 2020Filed 10 Jul | Sep 2020Filed 7 Oct | Dec 2020Filed 8 Jan | Mar 2021Filed 13 Apr | Jun 2021Filed 9 Jul | Sep 2021Filed 8 Oct | Dec 2021Filed 7 Jan | Mar 2022Filed 11 Apr | Jun 2022Filed 12 Jul | Sep 2022Filed 20 Oct | Dec 2022Filed 13 Jan | Mar 2023Filed 12 Apr | Jun 2023Filed 17 Jul | Sep 2023Filed 10 Oct | Dec 2023Filed 12 Jan | Mar 2024Filed 12 Apr | Jun 2024Filed 4 Jul | Sep 2024Filed 8 Oct | Dec 2024Filed 10 Jan | Mar 2025Filed 17 Apr | Jun 2025Filed 21 Jul | Sep 2025Filed 13 Oct | Dec 2025Filed 14 Jan | Mar 2026Filed 21 Apr | Jun 2026Filed 21 Jul | Sep 2026Filed 20 Oct |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | |
| Indian promoters | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | – | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% | 34.12% |
| Foreign promoters | – | – | – | – | – | – | – | – | 34.12% | – | – | – | – | – | – | – | – | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | – | – | – | – | – | – |
| Public. Every shareholder outside the promoter group, the employee trusts and the shares held against depositary receipts, as the filing totals them. | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% | 65.88% |
| Shares in issue | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 | 1,10,04,412 |
| Shares locked inShares locked in. Shares the filing reports as barred from sale until a set day, such as promoters' shares after a public issue or shares allotted to an investor directly. | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0 | 0 | 0 | 312 | 312 | 37,53,275 | 37,53,275 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | – | – | – | – | – | – |
| Promoters' shares locked in | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0 | 0 | 0 | 0 | 0 | 37,53,275 | 37,53,275 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | – | – | – | – | – | – |
Filings before Sep 2022 are on an older form, which did not split institutions into foreign and Indian and grouped some holders differently, so those columns show only the lines both forms state alike. A dash is a line the filing did not state. “Under 0.01%” is a holding of shares too small to show at two decimals.
TRF promoters
Promoters are the founders, families and companies that control the company, as its filings name them. Every member of the promoter group holding shares in the filing for Sep 2026; the largest is Tata Steel Limited, 34.11%. The filing names 146 more members with no shares.Promoter buying and selling
| Holder | ||
|---|---|---|
| Tata Steel LimitedIndian companies, trusts and others | 34.11% | 37,53,275 |
| Tata Industries LimitedIndian companies, trusts and others | 0.02% | 1,960 |
No promoter shares are reported as pledged.
Largest public holders of TRF, filing by filing
Per cent, on the same shares as the split above.
| Holder | Dec 2016Filed 19 Jan | Mar 2017Filed 14 Apr | Jun 2017Filed 13 Jul | Sep 2017Filed 16 Oct | Dec 2017Filed 18 Jan | Mar 2018Filed 16 Apr | Jun 2018Filed 18 Jul | Sep 2018Filed 12 Oct | Dec 2018Filed 14 Jan | Mar 2019Filed 18 Apr | Jun 2019Filed 19 Jul | Sep 2019Filed 22 Oct | Dec 2019Filed 20 Jan | Mar 2020Filed 8 Apr | Jun 2020Filed 10 Jul | Sep 2020Filed 7 Oct | Dec 2020Filed 8 Jan | Mar 2021Filed 13 Apr | Jun 2021Filed 9 Jul | Sep 2021Filed 8 Oct | Dec 2021Filed 7 Jan | Mar 2022Filed 11 Apr | Jun 2022Filed 12 Jul | Sep 2022Filed 20 Oct | Dec 2022Filed 13 Jan | Mar 2023Filed 12 Apr | Jun 2023Filed 17 Jul | Sep 2023Filed 10 Oct | Dec 2023Filed 12 Jan | Mar 2024Filed 12 Apr | Jun 2024Filed 4 Jul | Sep 2024Filed 8 Oct | Dec 2024Filed 10 Jan | Mar 2025Filed 17 Apr | Jun 2025Filed 21 Jul | Sep 2025Filed 13 Oct | Dec 2025Filed 14 Jan | Mar 2026Filed 21 Apr | Jun 2026Filed 21 Jul | Sep 2026Filed 20 Oct |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Roopa Corporate Services Pvt LtdCompanies | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 2.84% | 2.84% | 2.84% | 2.84% | 2.84% | 2.84% | 2.84% | 2.84% | 2.84% | 2.84% | 2.84% | 2.84% | 2.84% | 2.84% | 2.84% | 2.84% | 2.84% | 2.84% | 2.84% | 2.84% |
| Guttikonda Vara LakshmiResident individuals, over ₹2 lakh at face value | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 2.12% | 2.12% | 2.12% | 2.12% | 2.12% | 2.12% | 2.12% | 2.12% | 2.12% | 2.12% |
| Litton System IncForeign companies | 1.98% | 1.98% | 1.98% | – | – | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | – | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | – | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% |
| Chetan Gopaldas CholeraResident individuals, over ₹2 lakh at face value | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 1.02% | 1.47% | 1.66% | 1.66% | – | 1.45% | 1.45% | 1.45% |
| Pragya Equities Pvt LtdOther non-institutions | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 1.08% | 1.08% | 1.08% | – | – | – | – | 1.15% | 1.15% | 1.15% |
| O.P.J Financial Services (P) LtdCompanies | – | – | – | – | – | – | – | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% |
| Investor Education and Protection Fund AuthorityInvestor education fund | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 1.11% | 1.11% | – | 1.11% | 1.11% | 1.11% | 1.11% | – | 1.11% | – | 1.11% | 1.11% | 1.11% | 1.10% | 1.10% | 1.08% | 1.08% |
| Ravi ShankaranResident individuals, over ₹2 lakh at face value | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 1.20% | 1.41% | 1.99% | 1.99% | 1.32% | 1.33% | 1.22% | 1.20% | 1.19% | – |
| Morgan Stanley Asia (Singapore) Pte.Foreign portfolio investors, category I | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 1.85% | – | – | – | – | – | – | – | – | – | – | – | – | – |
| Dilipkumar LakhiResident individuals, over ₹2 lakh at face value | 2.26% | 2.26% | 2.26% | 2.26% | 2.26% | 2.26% | 2.26% | 2.26% | 2.26% | 2.26% | 2.26% | 2.26% | 2.26% | 2.26% | 1.84% | 1.84% | 1.84% | 1.84% | 1.75% | 1.75% | 1.71% | 1.71% | 1.65% | 1.65% | 1.65% | 1.65% | 1.57% | – | – | – | – | – | – | – | – | – | – | – | – | – |
| Johnson Dye Works Private Ltd.Companies | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 1.05% | 1.05% | 1.05% | – | – | – | – | – | – | – | – | – | – | – | – | – |
| Globe Capital Markets LimitedCompanies | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 1.70% | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| Investor Education and Protection Fund Authority Ministry of Corporate AffairsInvestor education fund | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 1.11% | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| Littons System Inc.Other non-institutions | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 1.98% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| Anand Rathi Share and Stock BrokersOther non-institutions | – | – | – | – | – | – | – | – | – | – | – | – | – | 1.07% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| Litton Systems InceOther Institutions | – | – | – | – | – | – | – | – | – | – | – | – | 1.98% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| ICICI BANK LIMITEDFinancial Institution Or Banks | – | – | – | – | – | – | – | – | – | – | 1.28% | 1.31% | 1.63% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| Edelweiss Custodial Services LtdOther non-institutions | – | – | – | – | – | – | – | – | – | – | – | – | 1.33% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| Nimish C ShahResident individuals, over ₹2 lakh at face value | – | – | – | – | – | – | – | – | – | 1.27% | – | 1.27% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| Nimish Chandulal ShahResident individuals, over ₹2 lakh at face value | 1.04% | 1.04% | 1.04% | 1.04% | 1.03% | 1.03% | 1.03% | – | 1.27% | – | 1.27% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| IL and FS Securities Services LimitedOther non-institutions | – | – | – | – | – | – | 1.43% | 1.29% | 1.37% | 1.20% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| JAMISH INVESTMENT PVT LTDOther non-institutions | – | – | – | – | – | – | 1.01% | 1.17% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| Vimesh N ZaveriResident individuals, over ₹2 lakh at face value | – | – | – | – | – | – | – | 1.16% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| Angel Fincap Pvt LtdOther non-institutions | – | – | – | – | 1.03% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
A filing names every holder above one per cent, in the company's own words: an insurer's holding can carry one of its funds' names. A dash is a filing that did not name the holder, which includes holding under one per cent.