Price
Financials
Consolidated, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 30 | 9 | 9 | 8 | 4 | 9 | 12 | 76 | 7 | 38 | 209 | 217 |
| Expenses | 39 | 4 | 14 | 23 | 29 | 21 | 95 | 196 | 43 | 57 | 299 | 177 |
| Operating Profit | -9 | 6 | -4 | -15 | -24 | -11 | -84 | -120 | -36 | -18 | -90 | 40 |
| OPM % | -32% | 60% | -43% | -178% | -566% | -120% | -708% | -159% | -519% | -47% | -43% | 19% |
| Other Income | 5 | 2 | 1 | 1 | 1 | 2 | 2 | 219 | 27 | 4 | 91 | 2 |
| Interest | 12 | 35 | 42 | 13 | 49 | 19 | 25 | 15 | 11 | 11 | 15 | 18 |
| Depreciation | 2 | 2 | 2 | 2 | 3 | 2 | 2 | 2 | 2 | 2 | 3 | 2 |
| Profit before tax | -18 | -28 | -47 | -28 | -76 | -31 | -109 | 81 | -22 | -28 | -17 | 22 |
| Tax % | -106% | 18% | 10% | 11% | -11% | -8% | -4% | 33% | -28% | -24% | -109% | -3% |
| Net Profit | 1 | -33 | -52 | -31 | -67 | -29 | -105 | 54 | -16 | -21 | 2 | 23 |
| EPS in Rs | 0.04 | -1.13 | -1.75 | -1.04 | -2.28 | -0.97 | -3.54 | 1.84 | -0.53 | -0.71 | 0.05 | 0.77 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 137 | 191 | 251 | 369 | 111 | 34 | 330 | 471 |
| Expenses | 112 | 191 | 435 | 205 | 133 | 167 | 594 | 575 |
| Operating Profit | 25 | -0 | -184 | 164 | -22 | -133 | -264 | -104 |
| OPM % | 19% | -0.1% | -74% | 44% | -20% | -395% | -80% | -22% |
| Other Income | 72 | 30 | 50 | 2 | 4 | 5 | 342 | 124 |
| Interest | 25 | 21 | 86 | 117 | 62 | 106 | 53 | 55 |
| Depreciation | 8 | 8 | 9 | 7 | 6 | 9 | 10 | 10 |
| Profit before tax | 65 | 1 | -229 | 41 | -86 | -243 | 15 | -45 |
| Tax % | 18% | -563% | 1% | 50% | -10% | -5% | -29% | |
| Net Profit | 53 | 6 | -233 | 20 | -77 | -231 | 19 | -13 |
| EPS in Rs | 0.21 | -7.89 | 0.69 | -2.61 | -7.84 | 0.65 | -0.42 | |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 12% | -4% | 365% | ||
| Compounded Profit Growth | % | 25% | -5% | 91% | ||
| Stock Price CAGR | % | 23% | 10% | -19% | ||
| Return on Equity | % | -8% | -8% | 2% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 59 | 59 | 59 | 59 | 59 | 59 | 59 |
| Reserves | 1,499 | 1,505 | 1,273 | 1,293 | 1,216 | 984 | 1,003 |
| Borrowings | 1,298 | 1,321 | 1,179 | 1,386 | 1,393 | 1,954 | 1,895 |
| Other Liabilities | 471 | 521 | 468 | 428 | 796 | 1,217 | 1,643 |
| Total Liabilities | 3,327 | 3,407 | 2,979 | 3,166 | 3,463 | 4,214 | 4,600 |
| Fixed Assets | 1,564 | 1,662 | 1,053 | 1,066 | 1,107 | 1,215 | 1,320 |
| CWIP | 73 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 138 | 138 | 68 | 68 | 68 | 68 | 0 |
| Other Assets | 1,552 | 1,607 | 1,858 | 2,032 | 2,289 | 2,931 | 3,279 |
| Total Assets | 3,327 | 3,407 | 2,979 | 3,166 | 3,463 | 4,214 | 4,600 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 116 | 144 | -81 | -81 | 158 | 43 | 191 |
| Cash from Investing Activity | 17 | 23 | 367 | 75 | -39 | -68 | 275 |
| Cash from Financing Activity | -143 | -161 | -279 | 96 | -166 | 14 | -436 |
| Net Cash Flow | -9 | 6 | 7 | 89 | -47 | -11 | 29 |
| Free Cash Flow | 66 | 161 | 280 | -12 | 117 | 6 | 159 |
| CFO/OP | 457% | -63,382% | 38% | -41% | -752% | -46% | -81% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 8 | 32 | 7 | 9 | 20 | 107 | 8 |
| Inventory Days | |||||||
| Days Payable | |||||||
| Cash Conversion Cycle | 8 | 32 | 7 | 9 | 20 | 107 | 8 |
| Working Capital Days | 368 | 263 | -516 | 760 | 1,218 | 1,121 | 703 |
| ROCE % | 1% | -5% | 6% | -1% | -5% | 2% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 64.96% | 64.96% | 64.96% | 64.96% | 64.96% | 64.96% | 65.12% | 65.12% | 65.12% | 65.12% | 65.12% | 65.12% |
| FIIs | 1.85% | 1.92% | 2.40% | 2.89% | 2.72% | 2.35% | 2.46% | 2.30% | 2.00% | 1.22% | 0.92% | 0.99% |
| DIIs | 0.42% | 0.89% | 1.29% | 1.95% | 3.31% | 4.34% | 4.89% | 5.44% | 5.81% | 6.31% | 6.40% | 6.44% |
| Public | 32.77% | 32.22% | 31.35% | 30.20% | 29.01% | 28.35% | 27.54% | 27.14% | 27.07% | 27.36% | 27.56% | 27.46% |
| No. of Shareholders | 54,087 | 56,710 | 61,015 | 60,052 | 59,935 | 62,404 | 62,161 | 59,880 | 57,953 | 56,287 | 54,264 | 53,065 |
Fundamentals
Market Cap₹ 3,746 Cr.
Current Price₹ 127
Book Value₹ 36.0
ROCE2.26 %
ROE1.81 %
Dividend Yield0.00 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)365%
Compounded Profit Growth (TTM)91%
Consolidated figures.
Valuation
Market capRs 3,706 Cr
Enterprise valueRs 4,977 Cr
Price to book2.74x
Price to sales7.87x
EV / EBITDA247.51x
EV / EBIT482.31x
EV / sales10.57x
Earnings yield-0.34%
P/E, 3-year average94.09x
P/B, 3-year average0.70x
Profitability
Operating margin (excl. other income)44.46%
Operating margin (incl. other income)44.91%
EBITDA margin4.27%
Pre-tax margin-9.49%
Net profit margin-2.66%
Net margin, latest quarter10.43%
ROE1.52%
ROCE6.03%
ROA0.66%
ROE, 3-year average-4.72%
ROCE, 3-year average0.49%
ROA, 3-year average-2.15%
ROIC (approx.)0.19%
Tax rate50.50%
Other income / net worth0.12%
Growth
Sales growth (latest year)47.11%
Sales CAGR, 3 years38.98%
Profit CAGR, 3 years-27.38%
Sales growth QoQ4.04%
Profit growth QoQ1298.15%
Sales growth YoY (latest quarter)186.11%
Profit growth YoY (latest quarter)-58.23%
Per share
EPS (TTM)Rs -0.42
EPS (latest year)Rs 0.69
EPS (latest quarter)Rs 0.77
EPS, 3-year averageRs -2.33
Book value per shareRs 45.80
Sales per shareRs 15.96
Cash flow per shareRs -2.75
Free cash flow per shareRs 5.39
Efficiency
Asset turnover0.12x
Fixed asset turnover0.35x
Inventory turnover0.05x
Inventory days7167 days
Debtor days9 days
Debtors turnover38.52x
Cash conversion cycle8 days
Working capital days703 days
Leverage
Total debtRs 1,386 Cr
Cash and bankRs 115 Cr
Net debtRs 1,272 Cr
Debt to equity1.03x
Net debt / EBITDA63.23x
Interest coverage0.19x
Current ratio (filing 2026-03-31)1.37x
Quick ratio (filing 2026-03-31)0.13x
Trade payables (filing 2026-03-31)Rs 77 Cr
Owners' fund to total sources42.70%
Debt to assets43.80%
Cash flow
Cash from Operating Activity (latest year)Rs -81 Cr
Cash from Investing Activity (latest year)Rs 75 Cr
Cash from Financing Activity (latest year)Rs 96 Cr
Net Cash Flow (latest year)Rs 89 Cr
Free cash flow (latest year)Rs 159 Cr
FCFE (approx.: FCF + change in debt)Rs 366 Cr
Statement figures
Net sales (TTM)Rs 471 Cr
Net sales (latest year)Rs 369 Cr
Sales (latest quarter)Rs 217 Cr
Operating profit excl. other income (latest year)Rs 164 Cr
Operating profit (latest quarter)Rs 40 Cr
Other income (TTM)Rs 124 Cr
EBITDA (TTM)Rs 20 Cr
PBDT (TTM)Rs -35 Cr
Profit before tax (TTM)Rs -45 Cr
Tax (latest year)Rs 21 Cr
Net profit (TTM)Rs -13 Cr
Net profit (latest year)Rs 20 Cr
Net profit (latest quarter)Rs 23 Cr
Depreciation (TTM)Rs 10 Cr
Depreciation (latest quarter)Rs 2 Cr
Interest (TTM)Rs 55 Cr
Cost of goods sold (latest year)Rs 56 Cr
Total expenditure (latest year)Rs 205 Cr
Total income (latest year)Rs 370 Cr
Share capitalRs 59 Cr
ReservesRs 1,293 Cr
Shareholders' fundsRs 1,352 Cr
Total assetsRs 3,166 Cr
Net blockRs 1,066 Cr
InvestmentsRs 68 Cr
ReceivablesRs 10 Cr
InventoryRs 1,106 Cr
Other liabilitiesRs 428 Cr
Shares outstanding (crore)29.51
Ownership
Promoter holding65.12% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/B 2.74 is at the 32th percentile (median 3.00).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | TARC | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -2.9% | -2.8% | -0.1 pts |
| 1 month | +2.5% | -6.8% | +9.3 pts |
| 3 months | -1.0% | -7.6% | +6.6 pts |
| 6 months | +12.5% | +0.4% | +12.1 pts |
| 1 year | -23.2% | -9.9% | -13.2 pts |
| 2 years | -48.7% | -13.6% | -35.1 pts |
| 3 years | +32.5% | +14.2% | +18.3 pts |
| 5 years | +189.0% | +27.9% | +161.1 pts |
11 mutual fund schemes hold about ₹213 Cr.
Over three months 0 bought more and 9 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| Bandhan Small Cap Fund | 0.58% | 199 | -15% |
| HSBC Flexi Cap Fund | 0.15% | 9 | -58% |
| Motilal Oswal Nifty Microcap 250 Index Fund | 0.12% | 3 | -12% |
| Tata Housing Opportunities Fund | 0.43% | 2 | -5% |
| Groww Nifty Total Market Index Fund | 0.01% | 0 | -13% |
| Angel One Nifty Total Market Index Fund | 0.01% | 0 | -13% |
| Tata Infrastructure Fund | 0.00% | 0 | -100% |
| Mirae Asset Nifty Total Market Index Fund | 0.01% | 0 | -13% |
| Bandhan Nifty Total Market Index Fund | 0.01% | 0 | +1% |
| Tata Infrastructure Fund | 0.00% | 0 | -100% |
| Motilal Oswal BSE 1000 Index Fund | 0.01% | 0 | -13% |
Red flags
F-score 5 of 8| explain | Low interest cover Interest cover 1.4x in 2026 |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹217 Cr +185.5% vs Jun 2025.
Net profit ₹23 Cr -57.4%.
Against our estimate for Jun 2026: sales +78.5%, profit +169.7% beat. Our estimate for Sep 2026: sales Rs 11 Cr, profit Rs -3 Cr (how).
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| DLF Ltd | 161,638 | 37.6 | 6.32 % |
| Lodha Developers Ltd | 110,592 | 26.8 | 16.4 % |
| Phoenix Mills Ltd | 68,996 | 53.2 | 12.4 % |
| Oberoi Realty Ltd | 64,099 | 24.2 | 17.3 % |
| Prestige Estates Projects Ltd | 61,056 | 53.6 | 10.4 % |
| Godrej Properties Ltd | 49,232 | 30.4 | 7.63 % |
| Anant Raj Ltd | 21,675 | 37.5 | 12.1 % |
| Brigade Enterprises Ltd | 18,370 | 27.0 | 10.5 % |
| Horizon Industrial Parks Ltd | 14,709 | 3.18 % | |
| Sobha Ltd | 13,008 | 56.4 | 6.86 % |
| Aditya Birla Real Estate Ltd | 12,963 | -4.48 % | |
| SignatureGlobal India Ltd | 10,614 | 2.38 % | |
| Sri Lotus Developers & Realty Ltd | 10,466 | 40.7 | 21.2 % |
| Max Estates Ltd | 9,312 | 1,586 | 1.40 % |
| Embassy Developments Ltd | 7,833 | -2.44 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2022-09-22 | Annual General Meeting | |
| 2021-12-14 | Annual General Meeting |
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Scrip PE is greater than 50 (4 trailing quarters)
Quick answers
What is the market cap of TARC Ltd?
TARC Ltd (TARC) has a market capitalisation of Rs 3,746 Cr. at the 2026-10-01 close.
What were TARC Ltd's latest quarterly results?
In the Jun 2026 quarter, TARC Ltd sales was Rs 217 Cr (+185.5% vs Jun 2025) and net profit was Rs 23 Cr.
What is the 52-week high and low of TARC Ltd?
The 52-week high is Rs 186.30 and the 52-week low is Rs 109.10.