TARC Ltd

₹ 160 -0.22%

26 Apr 3:07 p.m.

About

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]

Key Points

Business Services
The company creates beautiful homes, harmonious workspaces, Luxury Residences, Lifestyle Hubs, Industrial Parks, and welcoming lifestyle hubs. ^[1]

Website BSE NSE

Market Cap ₹ 4,723 Cr.
Current Price ₹ 160
High / Low ₹ 185 / 48.1
Stock P/E 230
Book Value ₹ 46.2
Dividend Yield 0.00 %
ROCE 5.14 %
ROE 1.07 %
Face Value ₹ 2.00

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Pros

Cons

Stock is trading at 3.53 times its book value
Company has low interest coverage ratio.
Company has a low return on equity of -3.00% over last 3 years.
Earnings include an other income of Rs.135 Cr.
Company has high debtors of 906 days.
Working capital days have increased from 1,824 days to 3,180 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.

Peer comparison

Sector: Realty Industry: Construction

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	53.77	70.88	181.36	203.10	44.55	7.49	13.43	12.63	87.07	83.38	23.10	21.52	5.90
	50.99	64.95	179.04	142.72	24.52	193.06	5.93	13.91	78.16	91.50	31.74	29.82	18.49
Operating Profit	2.78	5.93	2.32	60.38	20.03	-185.57	7.50	-1.28	8.91	-8.12	-8.64	-8.30	-12.59
OPM %	5.17%	8.37%	1.28%	29.73%	44.96%	-2,477.57%	55.85%	-10.13%	10.23%	-9.74%	-37.40%	-38.57%	-213.39%
	1.41	1.06	1.41	1.55	16.17	6.22	28.70	30.72	19.14	44.35	31.39	30.09	29.18
Interest	1.98	3.10	2.16	8.16	20.91	21.12	35.45	28.17	23.63	29.26	20.80	11.02	11.86
Depreciation	0.62	0.64	0.59	0.60	0.28	0.28	0.45	0.34	0.50	0.27	0.47	0.72	0.83
Profit before tax	1.59	3.25	0.98	53.17	15.01	-200.75	0.30	0.93	3.92	6.70	1.48	10.05	3.90
Tax %	3.77%	32.92%	52.04%	69.12%	22.92%	12.82%	-93.33%	54.84%	-47.19%	-13.58%	25.68%	-7.96%	74.62%
	1.54	2.18	0.47	16.42	11.58	-175.02	0.58	0.41	5.77	7.61	1.10	10.85	0.99
EPS in Rs	0.05	0.07	0.02	0.56	0.39	-5.93	0.02	0.01	0.20	0.26	0.04	0.37	0.03
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	0	0	107	175	436	197	134
	0	0	99	164	539	190	172
Operating Profit	0	-0	9	11	-103	7	-38
OPM %			8%	6%	-24%	4%	-28%
	0	0	11	5	25	123	135
Interest	0	0	14	8	52	117	73
Depreciation	0	0	2	2	2	2	2
Profit before tax	0	-0	3	5	-132	12	22
Tax %		0%	-65%	7%	-11%	-21%
	0	-0	4	5	-147	14	21
EPS in Rs				0.17	-4.97	0.49	0.70
Dividend Payout %		0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	%
3 Years:	22%
TTM:	11%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	48%
TTM:	112%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	77%
1 Year:	220%

Return on Equity
10 Years:	%
5 Years:	-2%
3 Years:	-3%
Last Year:	1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	0	0	59	59	59	59	59
Reserves	-0	-0	1,421	1,426	1,279	1,294	1,305
	0	0	1,069	1,065	861	1,447	1,400
	0	0	357	370	331	158	222
Total Liabilities	0	0	2,905	2,920	2,531	2,957	2,987
	0	0	810	827	26	24	26
CWIP	0	0	0	0	0	0	0
Investments	0	0	566	558	558	558	558
	0	0	1,529	1,535	1,946	2,375	2,402
Total Assets	0	0	2,905	2,920	2,531	2,957	2,987

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	-0	70	158	-50	-27
	0	56	41	363	-386
	0	-132	-196	-307	477
Net Cash Flow	-0	-5	3	6	64

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days		0	28	410	906
Inventory Days
Days Payable
Cash Conversion Cycle		0	28	410	906
Working Capital Days		1,343	1,305	988	3,180
ROCE %	-29%	1%	1%	-3%	5%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	65.57%	65.57%	65.57%	65.57%	65.57%	65.92%	65.92%	64.96%	64.96%	64.96%	64.96%	64.96%
	5.76%	5.70%	5.69%	4.62%	2.35%	1.40%	1.57%	1.37%	2.15%	1.85%	1.92%	2.40%
	0.02%	0.01%	0.01%	0.01%	0.27%	0.27%	0.02%	0.02%	0.36%	0.42%	0.89%	1.29%
	28.65%	28.72%	28.73%	29.80%	31.82%	32.41%	32.48%	33.65%	32.53%	32.77%	32.22%	31.35%
No. of Shareholders	43,878	48,415	53,571	60,857	65,489	64,694	63,165	61,463	54,043	54,087	56,710	61,015

	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	65.56%	65.57%	64.96%	64.96%
	5.78%	4.62%	1.37%	2.40%
	0.02%	0.01%	0.02%	1.29%
	28.64%	29.80%	33.65%	31.35%
No. of Shareholders	44,894	60,857	61,463	61,015

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Nov 2021

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