Tarmat Ltd

₹ 56.0 0.56%

19 Mar 10:35 a.m.

About

Incorporated in 1986, Tarmat Ltd does construction of Airfield and National /
state highways^[1]

Key Points

Business Overview:^[1]^[2]
TL is an ISO 9001:2008 Quality Mgmt System certified company which is in the business of construction of Highways, Runways, airfields, parking bays, aprons, taxiways, etc. It has worked on projects sponsored by Govt agencies, including Central Govt, State Governments and Municipalities. Company provides engineering, procurement and construction services for infrastructure projects - EPC

Website BSE NSE - BE

Market Cap ₹ 140 Cr.
Current Price ₹ 56.0
High / Low ₹ 73.9 / 45.0
Stock P/E 36.5
Book Value ₹ 70.0
Dividend Yield 0.00 %
ROCE 1.55 %
ROE 0.92 %
Face Value ₹ 10.0

Add ratio to table

Edit ratios

Pros

Company is almost debt free.
Stock is trading at 0.79 times its book value

Cons

The company has delivered a poor sales growth of -18.2% over past five years.
Promoter holding is low: 30.1%
Tax rate seems low
Company has a low return on equity of 1.98% over last 3 years.
Earnings include an other income of Rs.1.63 Cr.
Debtor days have increased from 62.5 to 78.3 days.
Promoter holding has decreased over last 3 years: -5.71%

* 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

Industrials Construction Construction Civil Construction

Edit Columns

Loading peers table ...

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	32.16	41.96	21.27	24.70	22.70	20.68	21.78	15.57	26.14	37.79	24.94	22.67	27.31
	33.37	41.73	20.11	24.04	22.32	20.48	20.85	15.01	25.57	37.06	23.82	21.54	25.57
Operating Profit	-1.21	0.23	1.16	0.66	0.38	0.20	0.93	0.56	0.57	0.73	1.12	1.13	1.74
OPM %	-3.76%	0.55%	5.45%	2.67%	1.67%	0.97%	4.27%	3.60%	2.18%	1.93%	4.49%	4.98%	6.37%
	6.20	0.19	0.01	0.02	0.00	-2.20	0.00	0.04	0.23	0.78	0.06	0.75	0.04
Interest	0.03	0.09	0.19	0.22	0.08	0.16	0.23	0.04	0.11	0.32	0.25	0.21	0.41
Depreciation	0.29	0.29	0.21	0.21	0.21	0.21	0.18	0.18	0.40	0.57	0.29	0.29	0.32
Profit before tax	4.67	0.04	0.77	0.25	0.09	-2.37	0.52	0.38	0.29	0.62	0.64	1.38	1.05
Tax %	0.64%	-575.00%	-3.90%	-12.00%	-33.33%	-1.27%	-5.77%	-7.89%	-17.24%	8.06%	-9.38%	-5.80%	-6.67%
	4.64	0.26	0.80	0.28	0.12	-2.34	0.55	0.41	0.34	0.57	0.69	1.46	1.13
EPS in Rs	2.18	0.12	0.38	0.13	0.06	-1.10	0.26	0.17	0.14	0.24	0.29	0.61	0.45
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	80	90	78	204	131	276	196	181	144	89	101	113
	83	89	77	213	150	265	189	174	142	87	98	108
Operating Profit	-3	0	1	-9	-19	11	7	7	2	2	3	5
OPM %	-4%	0%	1%	-4%	-14%	4%	4%	4%	2%	3%	3%	4%
	1	1	1	12	22	1	1	1	7	-2	1	2
Interest	16	5	0	2	1	2	3	2	1	1	1	1
Depreciation	4	2	2	1	1	1	1	1	1	1	1	1
Profit before tax	-21	-6	0	0	1	9	4	5	7	-1	2	4
Tax %	-2%	-112%	86%	-1,140%	18%	22%	-28%	2%	-2%	-10%	-3%
	-21	1	0	1	1	7	5	5	7	-1	2	4
EPS in Rs	-18.85	0.65	0.03	1.13	0.53	5.15	3.86	2.90	3.48	-0.53	0.78	1.59
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	2%
5 Years:	-18%
3 Years:	-18%
TTM:	34%

Compounded Profit Growth
10 Years:	8%
5 Years:	-27%
3 Years:	-33%
TTM:	145%

Stock Price CAGR
10 Years:	9%
5 Years:	4%
3 Years:	-15%
1 Year:	9%

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

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	11	11	11	11	11	13	13	16	21	21	24	24
Reserves	26	27	27	28	29	43	48	78	109	108	149	151
	117	119	122	145	97	110	89	43	6	10	10	11
	35	30	32	76	57	103	82	83	76	58	53	49
Total Liabilities	190	187	192	260	194	270	233	220	213	198	236	235
	18	15	14	13	12	17	18	17	17	16	21	22
CWIP	0	0	0	0	0	0	0	0	0	0	0	0
Investments	19	19	19	22	19	19	19	1	1	1	1	0
	153	152	159	226	163	234	195	201	195	181	214	214
Total Assets	190	187	192	260	194	270	233	220	213	198	236	235

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	2	-0	-1	-21	45	-13	26	-7	9	-3	-9
	6	0	0	-2	3	-5	-2	18	-1	0	-27
	-8	-0	-0	26	-49	20	-24	-21	-8	4	40
Net Cash Flow	-0	0	-1	3	-1	2	1	-10	1	1	4

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	100	90	106	62	54	31	24	45	57	52	78
Inventory Days	874	697	445	257			683	509	389	834	648
Days Payable	902	591	472	321			591	419	360	586	292
Cash Conversion Cycle	72	196	79	-1	54	31	116	135	86	300	434
Working Capital Days	-109	-6	23	59	189	94	-12	124	238	421	488
ROCE %		-1%	0%	1%	-12%	7%	4%	5%	4%	2%	2%

Insights

In beta

Mar 2014

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Cost of Material Consumed
INR Lakhs ・Includes some standalone data

xxx.xx	xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx
xx	xx	xx	xx	xx	xx	xx	xx	xx	xxx	xxx	xx
x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx
			xxx	x,xxx	xxx	xxx	xxx		xxx	xxx	xxx

Please log in to see hidden values.

Number of Permanent Employees
Count ・Standalone data

Work in Progress (Closing)
INR Lakhs

Order Book / Work in Hand
INR Crores ・Standalone data

Shareholding Pattern

Numbers in percentages

7 Recently

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	33.25%	33.25%	33.25%	33.25%	33.25%	33.25%	33.25%	29.84%	30.15%	29.84%	29.84%	30.13%
	0.02%	0.01%	0.00%	0.00%	0.07%	0.07%	2.84%	2.53%	2.96%	2.94%	2.92%	1.87%
	66.74%	66.75%	66.75%	66.76%	66.69%	66.69%	63.92%	67.64%	66.88%	67.21%	67.24%	68.00%
No. of Shareholders	9,909	9,813	11,140	12,523	14,153	14,153	14,628	14,442	14,358	14,379	14,596	14,055

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Dec 2025
	63.24%	60.33%	53.94%	50.58%	39.90%	39.90%	33.25%	33.25%	30.15%	30.13%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.07%	2.96%	1.87%
	36.76%	39.67%	46.06%	49.42%	60.10%	60.10%	66.74%	66.69%	66.88%	68.00%
No. of Shareholders	7,857	9,905	9,441	8,665	8,868	10,698	9,909	14,153	14,358	14,055

* 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.

Click on the line-items to see the names of individual entities.

Tarmat Ltd

Tarmat Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

Documents

Announcements

Annual reports

Credit ratings