TARC Ltd
TARC Ltd. (The Anant Raj Corporation) started out as a construction and contracting company and evolved to become one of the largest real estate development companies and land bank holders in the New Delhi Metropolitan Area. The company‘s key developments are across verticals like Residential, Hospitality, Commercial and Retail projects.
The name of the company has been changed from Anant Raj Global Ltd. to TARC Ltd. in April 2021. [1]
- Market Cap ₹ 4,076 Cr.
- Current Price ₹ 138
- High / Low ₹ 232 / 103
- Stock P/E
- Book Value ₹ 37.2
- Dividend Yield 0.00 %
- ROCE 0.03 %
- ROE -8.02 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
Cons
- Stock is trading at 3.72 times its book value
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -33.8% over past five years.
- Company has a low return on equity of -1.93% over last 3 years.
- Contingent liabilities of Rs.2,794 Cr.
- Company has high debtors of 7,539 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 107 | 175 | 436 | 197 | 60 | 14 | 10 | |
| 0 | 0 | 99 | 164 | 539 | 190 | 100 | 104 | 240 | |
| Operating Profit | 0 | -0 | 9 | 11 | -103 | 7 | -39 | -90 | -231 |
| OPM % | 8% | 6% | -24% | 4% | -65% | -661% | -2,356% | ||
| 0 | 0 | 11 | 5 | 25 | 123 | 117 | 94 | 45 | |
| Interest | 0 | 0 | 14 | 8 | 52 | 117 | 58 | 101 | 65 |
| Depreciation | 0 | 0 | 2 | 2 | 2 | 2 | 3 | 3 | 3 |
| Profit before tax | 0 | -0 | 3 | 5 | -132 | 12 | 17 | -100 | -254 |
| Tax % | 0% | -65% | 7% | 11% | -21% | 19% | 5% | ||
| 0 | -0 | 4 | 5 | -147 | 14 | 14 | -105 | -252 | |
| EPS in Rs | 0.17 | -4.97 | 0.49 | 0.46 | -3.57 | -8.55 | |||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -34% |
| 3 Years: | -68% |
| TTM: | -54% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 9% |
| TTM: | -1556% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 48% |
| 1 Year: | -31% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | -3% |
| 3 Years: | -2% |
| Last Year: | -8% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.05 | 0.05 | 59 | 59 | 59 | 59 | 59 | 59 | 59 |
| Reserves | -0 | -0 | 1,421 | 1,426 | 1,279 | 1,294 | 1,307 | 1,202 | 1,038 |
| 0 | 0 | 1,069 | 1,065 | 861 | 1,447 | 1,454 | 1,180 | 854 | |
| 0 | 0 | 357 | 370 | 331 | 166 | 226 | 374 | 554 | |
| Total Liabilities | 0 | 0 | 2,905 | 2,920 | 2,531 | 2,965 | 3,045 | 2,815 | 2,505 |
| 0 | 0 | 810 | 827 | 26 | 24 | 27 | 26 | 25 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 566 | 558 | 558 | 558 | 558 | 547 | 526 |
| 0 | 0 | 1,529 | 1,535 | 1,946 | 2,383 | 2,460 | 2,242 | 1,954 | |
| Total Assets | 0 | 0 | 2,905 | 2,920 | 2,531 | 2,965 | 3,045 | 2,815 | 2,505 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| 0 | -0 | 70 | 158 | -50 | -27 | -8 | 258 | |
| 0 | 0 | 56 | 41 | 363 | -386 | 105 | 511 | |
| 0 | 0 | -132 | -196 | -307 | 477 | -165 | -751 | |
| Net Cash Flow | 0 | -0 | -5 | 3 | 6 | 64 | -67 | 18 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 28 | 410 | 906 | 2,927 | 7,539 | ||
| Inventory Days | ||||||||
| Days Payable | ||||||||
| Cash Conversion Cycle | 0 | 28 | 410 | 906 | 2,927 | 7,539 | ||
| Working Capital Days | 1,079 | 682 | 272 | 2,604 | 7,613 | 5,819 | ||
| ROCE % | -29% | 1% | 1% | -3% | 5% | 3% | 0% |
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Newspaper Publication 13 Nov
- Announcement under Regulation 30 (LODR)-Investor Presentation 11 Nov
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Intimation Under Regulation 8(2) Of SEBI (Prohibition Of Insider Trading) Regulations, 2015
11 Nov - Board approved revised Code for fair disclosure of UPSI, adopted November 11, 2025; uploaded on company website.
- Financial Results 11 Nov
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Board Meeting Outcome for Outcome Of Board Meeting
11 Nov - Board approved unaudited Q2/H1 results ended Sep 30, 2025; consolidated H1 PAT Rs 3,844.42 lakh.
Annual reports
Concalls
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Nov 2025TranscriptNotesPPT
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May 2025TranscriptNotesPPT
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Feb 2025TranscriptNotesPPT
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Nov 2024Transcript PPT REC
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Oct 2024TranscriptNotesPPT
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Aug 2024TranscriptNotesPPT
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Jun 2024Transcript PPT
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Feb 2024TranscriptNotesPPT
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Jun 2023TranscriptNotesPPT
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Feb 2023TranscriptNotesPPT
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Dec 2022TranscriptNotesPPT
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Nov 2021TranscriptNotesPPT
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Sep 2021TranscriptNotesPPT
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Jul 2021TranscriptNotesPPT
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Jul 2021TranscriptNotesPPT
Business Services
The company is engaged in the development of luxurious residential projects in New Delhi and Gurugram. [1] TARC is a leading brand in the luxury residential sector. [2]