Sunday, March 25, 2018

TRF Ltd -Latest Updates & Valuations

The Board of TRF has approved the proposal of sale/divestment of its entire stake in its step-down subsidiary – York Transport Equipment (Asia) Pte, Singapore. This should be a positive for this small-cap company with a small equity of just Rs.11 crore.
Valuations  : TRF has Net Cash / Share of Rs. 60 & it is now trading at ~20% Discount to its EPV. RoE is high at 39% while RoCE is on the lower space at 1% only with Revenue growth of ~6%. Disposing at Higher level is wise.
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