Tarmat Ltd (TARMAT) share price, results

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

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	24.70	22.70	20.68	21.78	15.57	26.14	37.79	24.94	22.67	27.31	42.46	35.81
Expenses	24.04	22.32	20.48	20.85	15.01	25.57	37.06	23.82	21.54	25.57	39.56	33.35
Operating Profit	0.66	0.38	0.20	0.93	0.56	0.57	0.73	1.12	1.13	1.74	2.90	2.46
OPM %	2.67%	1.67%	0.97%	4.27%	3.60%	2.18%	1.93%	4.49%	4.98%	6.37%	6.83%	6.87%
Other Income	0.02	-0.00	-2.20	-0.00	0.04	0.23	0.78	0.06	0.75	0.04	0.39	0.06
Interest	0.22	0.08	0.16	0.23	0.04	0.11	0.32	0.25	0.21	0.41	0.26	0.31
Depreciation	0.21	0.21	0.21	0.18	0.18	0.40	0.57	0.29	0.29	0.32	0.37	0.31
Profit before tax	0.25	0.09	-2.37	0.52	0.38	0.29	0.62	0.64	1.38	1.05	2.66	1.90
Tax %	-12.00%	-33.33%	-1.27%	-5.77%	-7.89%	-17.24%	8.06%	-9.38%	-5.80%	-6.67%	-11.28%	19.47%
Net Profit	0.28	0.12	-2.34	0.55	0.41	0.34	0.57	0.69	1.46	1.13	2.96	1.53
EPS in Rs	0.13	0.06	-1.10	0.26	0.17	0.14	0.24	0.29	0.61	0.45	1.18	0.61

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	90	78	204	131	276	196	181	144	89	101	117	128
Expenses	89	77	213	150	265	189	174	142	87	98	110	120
Operating Profit	0	1	-9	-19	11	7	7	2	2	3	7	8
OPM %	0.5%	1.3%	-4.3%	-14%	4.0%	3.6%	3.9%	1.5%	2.8%	3.2%	6%	6%
Other Income	1	1	12	22	1	1	1	7	-2	1	1	1
Interest	5	0	2	1	2	3	2	1	1	1	2	1
Depreciation	2	2	1	1	1	1	1	1	1	1	1	1
Profit before tax	-6	0	0	1	9	4	5	7	-1	2	6	7
Tax %	-112%	86%	-1,140%	18%	22%	-28%	2%	-2%	-10%	-3%	-9%
Net Profit	1	0	1	1	7	5	5	7	-1	2	6	7
EPS in Rs	0.65	0.03	1.13	0.53	5.15	3.86	2.90	3.48	-0.53	0.78	2.49	2.85
Dividend Payout %	-0%	-0%	-0%	-0%	-0%	-0%	-0%	-0%	-0%	-0%	-0%

	10 Years	5 Years	3 Years	TTM	1 Year	Last Year
Compounded Sales Growth	3%	-10%	-7%	23%
Compounded Profit Growth	23%	1%	4%	252%
Stock Price CAGR	3%	-1%	-11%		15%
Return on Equity	1%	3%	2%			3%

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	11	11	11	11	11	13	13	16	21	21	24	25
Reserves	26	27	27	28	29	43	48	78	109	108	149	162
Borrowings	117	119	122	145	97	110	89	43	6	10	10	15
Other Liabilities	35	30	32	76	57	103	82	83	76	58	53	59
Total Liabilities	190	187	192	260	194	270	233	220	213	198	236	261
Fixed Assets	18	15	14	13	12	17	18	17	17	16	21	27
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	1
Other Assets	153	152	159	226	163	234	195	201	195	181	214	233
Total Assets	190	187	192	260	194	270	233	220	213	198	236	261

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	2	-0	-1	-21	45	-13	26	-7	9	-3	-9	8
Cash from Investing Activity	6	0	0	-2	3	-5	-2	18	-1	0	-27	-7
Cash from Financing Activity	-8	-0	-0	26	-49	20	-24	-21	-8	4	40	11
Net Cash Flow	-0	0	-1	3	-1	2	1	-10	1	1	4	12
Free Cash Flow	2	-0	-1	-21	45	-19	24	-7	9	-3	-36	-0
CFO/OP	-71%	-1,350%	87%	249%	-240%	-103%	348%	-101%	812%	-105%	-327%	121%

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	100	90	106	62	54	31	24	45	57	52	78	66
Inventory Days	874	697	445	257			683	509	389	834	648	579
Days Payable	902	591	472	321			591	419	360	586	292	301
Cash Conversion Cycle	72	196	79	-1	54	31	116	135	86	300	434	344
Working Capital Days	-109	-6	23	59	189	94	-12	124	238	380	488	413
ROCE %		-1%	0%	1%	-12%	7%	4%	5%	4%	2%	2%	3%

	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	33.25%	33.25%	33.25%	33.25%	33.25%	29.84%	30.15%	29.84%	29.84%	30.13%	29.05%	29.05%
FIIs	0.00%	0.00%	0.07%	0.07%	2.84%	2.53%	2.96%	2.94%	2.92%	1.87%	1.80%	1.80%
Public	66.75%	66.76%	66.69%	66.69%	63.92%	67.64%	66.88%	67.21%	67.24%	68.00%	69.15%	69.15%
No. of Shareholders	11,140	12,523	14,153	14,153	14,628	14,442	14,358	14,379	14,596	14,055	13,485	13,251

Fundamentals

Market Cap₹ 140 Cr.

Current Price₹ 56.0

Stock P/E19.8

Book Value₹ 74.5

ROCE3.39 %

ROE3.05 %

Dividend Yield0.00 %

Face Value₹ 10.0

Compounded Sales Growth (TTM)23%

Compounded Profit Growth (TTM)252%

Consolidated figures.

Valuation

Market capRs 143 Cr

Enterprise valueRs 138 Cr

P/E (TTM)20.26x

Price to book0.77x

Price to sales1.12x

EV / EBITDA14.57x

EV / EBIT16.86x

EV / sales1.08x

Price to cash flow19.07x

Earnings yield4.94%

P/E, 3-year average42.74x

P/B, 3-year average0.95x

P/E, 5-year average31.96x

P/B, 5-year average1.02x

Profitability

Operating margin (excl. other income)6.20%

Operating margin (incl. other income)7.26%

EBITDA margin7.38%

Pre-tax margin5.45%

Net profit margin5.52%

Net margin, latest quarter4.27%

ROE3.47%

ROCE3.78%

ROA2.51%

ROE, 3-year average1.28%

ROCE, 3-year average1.75%

ROA, 3-year average0.94%

ROE, 5-year average3.27%

ROCE, 5-year average3.17%

ROA, 5-year average1.66%

ROIC (approx.)4.91%

Tax rate-8.71%

Other income / net worth0.66%

Growth

Sales growth (latest year)15.90%

Profit growth (latest year)233.69%

Sales CAGR, 3 years-6.52%

Sales CAGR, 5 years-9.73%

Profit CAGR, 3 years-5.61%

Profit CAGR, 5 years3.91%

Sales growth QoQ-15.66%

Profit growth QoQ-48.31%

Sales growth YoY (latest quarter)43.58%

Profit growth YoY (latest quarter)121.74%

Per share

EPS (TTM)Rs 2.82

EPS (latest year)Rs 2.49

EPS (latest quarter)Rs 0.61

EPS, 3-year averageRs 0.91

EPS, 5-year averageRs 1.82

Book value per shareRs 74.48

Sales per shareRs 51.17

Cash flow per shareRs 3.00

Free cash flow per shareRs -0.00

Efficiency

Asset turnover0.45x

Fixed asset turnover4.29x

Inventory turnover1.28x

Inventory days286 days

Debtor days66 days

Debtors turnover5.50x

Creditor days301 days

Cash conversion cycle344 days

Working capital days413 days

Leverage

Total debtRs 15 Cr

Cash and bankRs 21 Cr

Net debtRs -6 Cr

Debt to equity0.08x

Net debt / EBITDA-0.58x

Interest coverage6.87x

Owners' fund to total sources71.54%

Debt to assets5.76%

Cash flow

Cash from Operating Activity (latest year)Rs 8 Cr

Cash from Investing Activity (latest year)Rs -7 Cr

Cash from Financing Activity (latest year)Rs 11 Cr

Net Cash Flow (latest year)Rs 12 Cr

Free cash flow (latest year)Rs -0 Cr

FCFE (approx.: FCF + change in debt)Rs 5 Cr

Cash from ops / profit, 5 years-0.11x

Sales to cash flow15.61x

Statement figures

Net sales (TTM)Rs 128 Cr

Net sales (latest year)Rs 117 Cr

Sales (latest quarter)Rs 36 Cr

Operating profit excl. other income (latest year)Rs 7 Cr

Operating profit (latest quarter)Rs 2 Cr

Other income (TTM)Rs 1 Cr

EBITDA (TTM)Rs 9 Cr

PBDT (TTM)Rs 8 Cr

Profit before tax (TTM)Rs 7 Cr

Tax (latest year)Rs -0 Cr

Net profit (TTM)Rs 7 Cr

Net profit (latest year)Rs 6 Cr

Net profit (latest quarter)Rs 2 Cr

Depreciation (TTM)Rs 1 Cr

Depreciation (latest quarter)Rs 0 Cr

Interest (TTM)Rs 1 Cr

Cost of goods sold (latest year)Rs 92 Cr

Total expenditure (latest year)Rs 110 Cr

Total income (latest year)Rs 119 Cr

Share capitalRs 25 Cr

ReservesRs 162 Cr

Shareholders' fundsRs 187 Cr

Total assetsRs 261 Cr

Net blockRs 27 Cr

Capital work in progressRs 0 Cr

InvestmentsRs 1 Cr

ReceivablesRs 21 Cr

InventoryRs 72 Cr

Other liabilitiesRs 59 Cr

Shares outstanding (crore)2.51

Ownership

Promoter holding29.05% (-0.79 in a year)

Computed by MarketFriction from the consolidated statements. Returns use average balances.

P/E 20.3 is at the 14th percentile of its own 7.5-year range (median 32.1, low 9.1, high 149.1).

P/B 0.77 is at the 8th percentile (median 1.71).

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	TARMAT	Nifty 50	Difference
1 week	+5.9%	-2.8%	+8.7 pts
1 month	-2.9%	-6.8%	+3.9 pts
3 months	+16.6%	-7.6%	+24.2 pts
6 months	+13.4%	+0.4%	+13.0 pts
1 year	+12.7%	-9.9%	+22.6 pts
2 years	-34.9%	-13.6%	-21.3 pts
3 years	-28.6%	+14.2%	-42.8 pts
5 years	-5.5%	+27.9%	-33.4 pts

Red flags

F-score 6 of 8

explain

Weak cash conversion Cash from operations was -69% of net profit over the last 3 years

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 2026

Sales ₹36 Cr +43.6% vs Jun 2025. Net profit ₹2 Cr +121.7%.

Against our estimate for Jun 2026: sales +32.4%, profit +7.0% in line. Our estimate for Sep 2026: sales Rs 29 Cr, profit Rs 2 Cr (how).

Activity

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No bulk or block deals on record.

Ex-date	Action	Factor
2024-09-20	Annual General Meeting
2023-09-22	Annual General Meeting
2022-09-22	Annual General Meeting
2021-09-20	Annual General Meeting
2020-09-22	Annual General Meeting
2019-09-20	Annual General Meeting
2018-09-19	Annual General Meeting
2017-09-21	Annual General Meeting
2016-09-21	Annual General Meeting
2015-09-10	Annual General Meeting
2014-09-23	Annual General Meeting
2013-09-23	Annual General Meeting
2012-09-18	Annual General Meeting (Bc End Date Revised)
2011-09-21	Annual General Meeting
2010-09-20	Annual General Meeting And Dividend Re.1/- Per Share
2009-09-15	Agm/Div-Re.1/- Per Share
2008-09-01	Agm/Dividend - 10%

Date	Type	What it says
2026-09-30	Cessation	Cessation of AMIT ATMARAM SHAH as Executive Director of the company w.e.f. September 30, 2026.
2026-09-30	Shareholder meeting	Voting results.
2026-09-30	Shareholder meeting	Proceedings of Annual General Meeting held on September 30, 2026
2026-09-03	Shareholder meeting	Notice of Annual General Meeting to be held on September 30, 2026
2026-09-03	Updates	Intimation under Regulation 36(1)(b).
2026-08-15	Price movement	Significant movement in price has been observed in Tarmat Limited. The Exchange, in order to ensure that investors have latest relevant information ab...
2026-08-14	Price movement	Significant movement in price has been observed in Tarmat Limited. The Exchange, in order to ensure that investors have latest relevant information ab...
2026-08-14	Updates	AGM Related.
2026-08-14	Record Date	Record date for the purpose of remote e-voting facility is 24-Sep-2026.
2026-08-14	General Updates	General Updates
2026-08-14	Change in Management	Change in Management
2026-08-14	Board meeting outcome	Tarmat Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-04	Disclosure of material issue	Tarmat Limited has informed regarding Disclosure of material issue
2026-06-15	Disclosure under SEBI Takeov	Tarmat Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Ac...
2026-06-01	Press Release	A press release dated May 31, 2026, titled "Submission of newspaper clippings of Audited Financial Results for the quarter and year ended 31.03.2026".
2026-05-30	Board meeting outcome	Tarmat Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-02-05	Statement of deviation(s) or	Statement of deviation(s) or variation(s) under Reg. 32
2026-02-05	Board meeting outcome	Tarmat Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
2026-02-05	Board meeting outcome	Board meeting held on February 05, 2026.
2025-11-29	Updates	Disclosure under Regulation 7(2)(b) of SEBI (PIT0 Regulation 2015.
2025-11-25	Updates	Disclosure under Regulation 7(2)(b) of SEBI (PIT) Regulation 2015.
2025-11-22	Updates	Disclosure under Regulation 7(2)(b) of SEBI (PIT) Regulations 2015.
2025-11-21	Updates	Disclosure under Reg. 7(2)(b) of SEBI (PIT) Regulation 2015.
2025-11-14	Board meeting outcome	Tarmat Limited has submitted to the Exchange, the financial results for the period ended September 30, 2025.
2025-11-04	Structural Digital Database	Attached please find SDD Certificate

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.

Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Tarmat Ltd?

Tarmat Ltd (TARMAT) has a market capitalisation of Rs 140 Cr. at the 2026-10-01 close.

What is the P/E ratio of Tarmat Ltd?

Tarmat Ltd trades at a P/E of 19.8 on trailing twelve-month profit, at the 2026-10-01 close.

What were Tarmat Ltd's latest quarterly results?

In the Jun 2026 quarter, Tarmat Ltd sales was Rs 36 Cr (+43.6% vs Jun 2025) and net profit was Rs 2 Cr.

What is the 52-week high and low of Tarmat Ltd?

The 52-week high is Rs 73.90 and the 52-week low is Rs 46.26.