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NSE:TARMAT

TARMAT LIMITED

Construction › Construction
₹55.40
at close · 28 Oct 2026
▲ 2.34 (+4.41%)

Latest filings

  1. AGM rejects Amit Shah reappointment with 88.82 percent opposition · Compliance
  2. RTA submits quarterly dematerial compliance certificate for Sept 2026 · Compliance
  3. AGM approves re-appointment of auditor, MD and independent director · Management Changes
All filings ↓
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Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

Builds civil infrastructure across airports, highways, railways, and real estate projects in India. FY26 revenue of Rs 117.37 crore was booked against total assets of Rs 260.97 crore, with materials at 38.7% of revenue and other operating expenses at 45.1% making up the bulk of the cost base. Employee costs account for 10.3% of revenue and capex was reported at 0.0% of revenue. The business runs a joint venture called Backbone Tarmat Alfaraa in which it holds a Rs 7.83 crore investment; the JV partner has gone into liquidation, leading to a qualified auditor opinion that has recurred since FY 2022-23. Net profit for FY26 was Rs 6.24 crore.

Operating scale
FY26 revenue
Rs 117.37 croreFY26
Infrastructure segments operated in
Airports, highways, railways, real estate
JV investment
Rs 7.83 crore in Backbone Tarmat AlfaraaFY26
Total assets
Rs 260.97 croreFY26
Who pays it
Government agencies and infrastructure developers awarding airport, highway, railway, and real estate contracts
Biggest cost
Materials at 38.7% of revenue
Kind of business
Cyclical, contract-driven civil construction with multi-segment project execution
Where it sits
Small-scale Indian civil construction company operating in airports, highways, railways, and real estate
Market Cap
₹135 Cr
P / E (TTM)
19.3×
EV / EBITDA
13.5×
Div Yield
—
Growth
-9.7%▼
Revenue 5y CAGR
PAT +26.4% · EBITDA -0.8%
Quality
3.5%·
ROCE (5y median)
ROE 3.3% (5y median) · margin 6.9%
Leverage
0.08·
Debt / Equity · low
Net cash ₹6.38 Cr
Revenue FY21→FY26
0.6×▼
Margin +4.3 pts
₹196 Cr → ₹117 Cr
Cash conversion
0.35×▼
Operating cash ÷ profit · 5 yrs
₹7 Cr on ₹19 Cr
Moves on a normal day
1.26%·
Median daily move
Last 267 sessions · the yardstick for filing-day moves
Where it sits among 110 Civil Construction peersBar = share of peers beaten · tick = industry median · latest reported figures
P/E (TTM)#64/101
P/B#20/85
ROCE#75/107
ROE#62/87
Debt / Equity#18/87
EBITDA margin#68/88
Revenue growth#14/86
Profit growth#10/84

Scorecard

Measured from the filed financials, judged against its Civil Construction peers · as of FY26 — not investment advice

Strengths
Profit compounding 26% a year over 5 years
Debt at 0.08× equity
lower than 80% of its 87 Civil Construction peers
Concerns
Revenue shrinking over 5 years (−10% a year)
Returns on capital 3.5% (5-year median)
#75 of 107 in Civil Construction on the latest reported figures
Over 5 years it reported ₹19 Cr of profit and ₹6.69 Cr of operating cash — 0.35×
Less than 60p of every ₹1 of profit arrived as cash
Heavy working capital — 174 days of cash tied up
Customers are taking longer to pay — 24 → 66 days of receivables
FY21 → FY26
EPS grew slower than profit — the share count rose (bonus or dilution)

Charts

How has the market priced it — with filings on the timeline?

TARMAT · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Peers

How does it stack up on valuation, returns and growth?

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Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

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Ownership

Who owns it — and is the promoter stake clean?

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Common questions

Answered from TARMAT LIMITED's filed financials and exchange disclosures

What does TARMAT LIMITED do?

TARMAT LIMITED is a Construction company listed on NSE and BSE, trading under the symbol TARMAT.

Is TARMAT LIMITED profitable?

Yes. Over the trailing twelve months TARMAT LIMITED reported a net profit of ₹7.08 Cr on revenue of ₹128 Cr.

Does TARMAT LIMITED pay a dividend?

Not in the latest reported year — TARMAT LIMITED's dividend payout for FY26 was nil.

Is TARMAT LIMITED debt-free?

On a net basis, yes. It reported borrowings of ₹15 Cr on its 31 Mar 2026 balance sheet, but holds ₹6.38 Cr more cash than debt.

Is TARMAT LIMITED expensive compared with its peers?

On trailing P/E, TARMAT LIMITED ranks 64 of 101 in Civil Construction — cheaper than 37% of them, against an industry median of 13.5×. This is a position, not a valuation judgement.

How much does the TARMAT LIMITED share price move in a day?

On a typical session TARMAT LIMITED moves 1.26% — that is the median absolute close-to-close move across its last 267 trading days. MarketPing measures each filing's price reaction against it.

Where can I track TARMAT LIMITED's announcements?

Every NSE and BSE filing by TARMAT LIMITED appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.