TARC Limited has informed the Exchange about Appointment of Secretarial Auditor.
TARC · price
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Awaiting price reaction for this filing.
TARC Limited's board met on August 12, 2025 and approved several items. Q1 FY26 consolidated results swung to a profit of Rs 5,421 lakhs from a loss of Rs 3,068 lakhs a year ago, but this was largely driven by one-time items from subsidiary TARC Projects Limited — Rs 6,984 lakhs as enhanced compensation and Rs 21,710 lakhs as interest income on land acquired earlier. Standalone, the company posted a loss of Rs 13,744 lakhs (vs Rs 611 lakh loss in Q1 FY25), hit by Rs 11,427 lakhs in impairment allowances and write-offs. The board re-appointed Amar Sarin as MD & CEO for another 5-year term (till December 2030) and re-appointed Independent Director Miyar Ramanath Nayak for a second 5-year term. Mrs. Muskaan Sarin (wife of the CEO) was redesignated as Whole Time Director & Chief Brand Officer. M/s Mritunjay Shekhar & Associates was appointed as Secretarial Auditor for 5 years. The 9th AGM is scheduled for September 25, 2025.
The headline consolidated profit turnaround is positive but masks underlying weakness — standalone losses and large write-offs signal stress in the core real estate business, and the one-time subsidiary gains are non-recurring. Board continuity with the promoter-family CEO re-appointed may reassure investors on stability, but the lack of fresh external leadership and ongoing asset write-downs warrant close attention.