Tarmat Limited

BSE: TARMAT532869ISIN INE924H01018

Industrials
Civil Construction

Share price

₹53.15-0.49 (-0.91%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹73.99
52W low: ₹46.31
Off 52W high: -28.17%
1M return: -7.74%
3M return: +5.37%
6M return: +1.05%
1Y return: +2.15%
20D avg volume: 1,719
50 DMA: ₹56.64
200 DMA: ₹53.92

Key ratios Consolidated

Market cap: ₹133.22 Cr
Current price: ₹53.15
52W high / low: ₹73.99 / ₹46.31
Face value: ₹10.00
P/E: 18.81
P/B: 0.71
EPS (TTM): ₹2.83
Book value / share: ₹74.49
ROE: —
ROCE: 3.50%
Operating margin: —
Net margin: —
Debt / equity: 0.08
Net debt: ₹-6.38 Cr
Interest cover: 6.12
Dividend yield: —
Dividend / share (TTM): —
Payout: —
Cash conversion cycle: 173.8 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24
Income statement
	35.81	42.46	27.31	22.67	24.94	37.79	26.14	15.57	21.78	—
	0.06	0.39	0.04	0.75	0.06	0.78	0.23	0.04	0.01	—
	35.87	42.85	27.35	23.42	25.00	38.57	26.38	15.60	21.79	—
	33.97	40.19	26.29	22.03	24.36	37.95	26.09	15.22	21.26	—
	14.04	16.87	12.17	6.92	9.47	15.08	9.84	4.55	9.61	—
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—
	3.79	3.77	2.92	2.85	2.58	2.51	2.61	1.93	2.19	—
	0.31	0.26	0.41	0.21	0.25	0.32	0.11	0.04	0.23	—
	0.31	0.37	0.32	0.29	0.29	0.57	0.40	0.18	0.18	—
	15.52	18.93	10.47	11.77	11.78	19.48	0.88	1.01	0.93	—
	1.90	2.66	1.06	1.39	0.64	0.62	0.29	0.38	0.53	—
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—
	1.90	2.66	1.06	1.39	0.64	0.62	0.29	0.38	0.53	—
	0.37	-0.30	-0.07	-0.08	-0.06	0.05	0.05	0.03	0.03	—
	1.53	2.96	1.13	1.47	0.69	0.57	0.34	0.41	0.55	—
	0.62	1.18	0.46	0.61	0.30	0.19	0.16	0.19	0.27	—
Key metrics
	2.52	3.29	1.79	1.89	1.18	1.51	0.80	0.60	0.94	—
	7.00%	7.70%	6.60%	8.30%	4.70%	4.00%	3.10%	3.90%	4.30%	—
	4.30%	7.00%	4.10%	6.50%	2.80%	1.50%	1.30%	2.60%	2.50%	—
	—	1.50%	—	0.90%	—	0.50%	—	—	—	—
	43.60%	12.40%	4.50%	45.60%	14.50%	—	—	—	—	—
	121.70%	419.30%	232.40%	258.50%	25.50%	—	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	128.25	117.37	101.28	—
	1.24	1.24	1.05	—
	129.49	118.61	102.34	—
	122.48	112.87	100.53	—
	50.00	45.42	39.08	—
	0.00	0.00	0.00	—
	13.33	12.12	9.24	—
	1.19	1.12	0.70	—
	1.29	1.26	1.33	—
	56.69	52.95	50.19	—
	7.01	5.74	1.81	—
	0.00	0.00	0.00	—
	7.01	5.74	1.81	—
	-0.08	-0.50	-0.06	—
	7.09	6.24	1.87	—
	2.87	2.51	0.63	—
Key metrics
	9.49	8.12	3.84	—
	7.40%	6.90%	3.80%	—
	5.53%	5.30%	1.80%	—
	—	3.50%	1.40%	—
	22.80%	15.90%	—	—
	252.74%	233.70%	—	—
	—	7.52	-15.11	—
	—	1.21	-4.90	—
	—	0.08	0.06	—
	—	-6.38	-0.29	—
	—	173.8	215.5	—
Balance sheet
	—	260.97	235.86	—
	—	217.34	199.43	—
	—	21.40	9.83	—
	—	21.33	21.72	—
	—	72.07	69.38	—
	—	—	0.00	—
	—	27.24	20.69	—
	—	37.49	31.29	—
	—	63.20	60.42	—
	—	15.02	9.54	—
	—	4.48	8.11	—
	—	10.54	1.43	—
	—	186.70	173.27	—
Cash flow
	—	7.52	-9.16	—
	—	-7.44	-26.90	—
	—	11.49	40.19	—
	—	0.00	5.95	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24
Income statement
	29.59	42.46	27.31	22.67	24.94	37.79	26.14	15.57	21.78	—
	0.06	0.39	0.04	0.75	0.06	0.78	0.23	0.04	0.01	—
	29.65	42.85	27.35	23.42	25.00	38.57	26.38	15.60	21.79	—
	28.95	39.88	26.29	22.03	24.36	37.95	26.09	15.22	21.26	—
	12.17	16.87	12.17	6.92	9.47	15.08	9.84	4.55	9.61	—
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—
	3.63	3.69	2.92	2.85	2.58	2.51	2.61	1.93	2.19	—
	0.31	0.26	0.41	0.21	0.25	0.32	0.11	0.04	0.23	—
	0.30	0.36	0.32	0.29	0.29	0.57	0.40	0.18	0.18	—
	12.52	18.71	10.47	11.77	11.78	19.48	0.88	1.01	0.93	—
	0.71	2.97	1.06	1.39	0.64	0.62	0.29	0.38	0.53	—
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—
	0.71	2.97	1.06	1.39	0.64	0.62	0.29	0.38	0.53	—
	0.15	-0.30	-0.07	0.08	-0.06	0.05	0.05	0.03	0.03	—
	0.56	3.27	1.13	1.47	0.69	0.57	0.34	0.41	0.55	—
	0.23	1.31	0.46	0.61	0.30	0.19	0.16	0.19	0.27	—
Key metrics
	1.32	3.59	1.79	1.89	1.18	1.51	0.80	0.60	0.94	—
	4.50%	8.50%	6.60%	8.30%	4.70%	4.00%	3.10%	3.90%	4.30%	—
	1.90%	7.70%	4.10%	6.50%	2.80%	1.50%	1.30%	2.60%	2.50%	—
	—	1.60%	—	0.80%	—	0.50%	—	—	—	—
	18.60%	12.40%	4.50%	45.60%	14.50%	—	—	—	—	—
	-18.80%	473.70%	232.40%	258.50%	25.50%	—	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	122.03	117.37	101.28	—
	1.24	1.24	1.05	—
	123.27	118.61	102.34	—
	117.15	112.56	100.53	—
	48.13	45.42	39.08	—
	0.00	0.00	0.00	—
	13.09	12.03	9.24	—
	1.19	1.12	0.70	—
	1.27	1.25	1.33	—
	53.47	52.73	50.19	—
	6.13	6.06	1.81	—
	0.00	0.00	0.00	—
	6.13	6.06	1.81	—
	-0.14	-0.50	-0.06	—
	6.43	6.56	1.87	—
	2.61	2.64	0.63	—
Key metrics
	8.59	8.43	3.84	—
	7.04%	7.20%	3.80%	—
	5.27%	5.60%	1.80%	—
	—	3.60%	1.40%	—
	16.84%	15.90%	—	—
	219.90%	250.80%	—	—
	—	-0.23	-15.11	—
	—	1.14	-4.90	—
	—	0.08	0.06	—
	—	-5.73	-0.29	—
	—	148.6	188.2	—
Balance sheet
	—	240.38	216.91	—
	—	189.07	172.89	—
	—	21.28	9.83	—
	—	21.33	21.72	—
	—	43.10	42.84	—
	—	—	0.00	—
	—	26.24	19.77	—
	—	16.64	12.34	—
	—	42.30	41.47	—
	—	15.55	9.54	—
	—	4.48	8.11	—
	—	11.07	1.43	—
	—	187.01	173.27	—
Cash flow
	—	7.48	-9.16	—
	—	-7.51	-26.90	—
	—	11.49	40.19	—
	—	7.71	5.95	—

Compounded growth

Standalone

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): +16.84%
Profit YoY (TTM): +219.90%

Consolidated

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): +22.80%
Profit YoY (TTM): +252.74%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 29.10%

Holder	Type	Holding	Previous	Change
JERRY VARGHESE	Promoter	13.24%	—	—
YASH JAYESH MEHTA	Public	7.71%	—	—
TARMAT HOLDINGS PVT. LTD.	Promoter	5.43%	—	—
DILIP VARGHESE	Promoter	5.26%	—	—
FERSTAR TRADE PRIVATE LIMITED	Public	4.99%	—	—
FAITHFUL VANIJYA PRIVATE LIMITED	Public	4.99%	—	—
LATE SARAMMA JERRY VARGHESE	Promoter	4.19%	—	—
KINGSTON VINCOM PRIVATE LIMITED	Public	4.15%	—	—
AMIT ATMARAM SHAH HUF	Public	3.99%	—	—
SOMANI ESTATES PVT LTD	Public	3.93%	—	—
YMS FINANCE PRIVATE LIMITED	Public	3.93%	—	—
AMIT ATMARAM SHAH	Public	2.55%	—	—
AMBIKA VINCOM PRIVATE LIMITED	Public	2.39%	—	—
GAJMURTI AGENCY PRIVATE LIMITED	Public	1.72%	—	—
PINE TREE CAPITAL MARKET PVT.LTD.	Public	1.51%	—	—

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Larsen & Toubro Limited	5,41,567	3,936.05	25.92	13.20%	+11.15% TTM	+9.38% TTM	+0.38%
Rail Vikas Nigam Limited	39,866	191.20	44.50	10.30%	+5.40% TTM	-24.84% TTM	-41.30%
Cemindia Projects Limited	24,136	1,308.75	40.12	40.00%	+10.02% TTM	+46.60% TTM	+51.63%
KALPATARU PROJECTS INTERNATIONAL LIMITED	23,312	1,365.10	20.66	20.50%	+14.56% TTM	+61.94% TTM	+3.93%
NBCC (India) Limited	21,006	77.80	27.44	29.70%	+3.51% TTM	+30.78% TTM	-31.72%
IRB Infrastructure Developers Limited	20,303	16.81	21.28	6.00%	-2.20% TTM	-85.42% TTM	-24.80%
Engineers India Ltd.	16,901	300.70	18.83	26.60%	+6.00% TTM	+66.97% TTM	+52.21%
Techno Electric & Engineering Company Limited	10,302	885.80	23.90	12.80%	+38.72% TTM	-6.49% TTM	-32.09%
IRCON International Ltd	9,717	103.32	20.09	7.30%	-2.58% TTM	-19.18% TTM	-38.54%
RITES Limited	9,470	197.05	20.53	18.30%	+10.59% TTM	-0.32% TTM	-20.93%
Welspun Enterprises Limited	9,395	678.75	27.00	14.60%	+0.63% TTM	+0.78% TTM	+20.42%
KEC International Ltd.	8,554	321.35	20.24	20.30%	-1.94% TTM	-38.14% TTM	-60.26%
Afcons Infrastructure Limited	7,768	211.20	54.08	11.60%	-11.87% TTM	-73.03% TTM	-52.52%
NCC Limited	7,616	121.30	10.18	17.50%	-1.81% TTM	-12.01% TTM	-41.04%
G R Infraprojects Limited	7,422	767.10	7.31	12.50%	+25.06% TTM	-7.95% TTM	-33.27%
Power Mech Projects Limited	7,111	2,249.10	16.91	21.20%	+15.79% TTM	+14.76% TTM	-8.84%
Ceigall India Limited	6,957	399.35	21.65	17.60%	+20.31% TTM	+23.56% TTM	+60.28%
ISGEC Heavy Engineering Limited	6,942	944.10	27.43	10.50%	+21.43% TTM	+17.19% TTM	+7.10%
Dilip Buildcon Limited	6,485	399.20	5.17	22.20%	-18.82% TTM	+29.15% TTM	-21.95%
Hindustan Construction Co. Ltd.	4,904	18.72	29.56	17.20%	-20.64% TTM	+0.03% TTM	—
LCC PROJECTS LIMITED	3,925	135.50	13.85 FY26	—	+23.37% FY26	+28.09% FY26	—
Ahluwalia Contracts (India) Ltd	3,555	530.75	15.80	15.80%	+12.00% TTM	+1.04% TTM	-42.18%
STERLING AND WILSON RENEWABLE ENERGY LIMITED	3,509	150.25	16.46	-9.60%	-9.04% TTM	+158.14% TTM	-36.00%
PNC Infratech Limited	3,293	128.35	5.22	13.50%	+1.82% TTM	-21.49% TTM	-54.49%
Vindhya Telelinks Ltd.	3,242	2,735.95	13.67	4.00%	-17.53% TTM	+2.25% TTM	+99.79%
Tarmat Limited	133	53.15	18.81	3.50%	+22.80% TTM	+252.74% TTM	+2.15%

Some figures use IPO-document inputs. Growth periods are shown per value; FY means annual.

Filings & corporate actions

Recent announcements

Tarmat Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 14/11/2026 ,inter alia, to consider and approve Pursuant to Regulation 29 of the SEBI ....2 Nov 2026 · Board Meeting / Board Meeting
Pursuant to Regulation 30 of SEBI (LODR) Regulation, 2015, enclosed please find the minutes of the 41st Annual General Meeting of the Company held on Wednesday, 30th September, 2026 through ....26 Oct 2026 · Company Update / General
Please find enclosed herewith a Certificate issued under Regulation 74(5) of SEBI ( Depositories and Participants) Regulations, 2018 by Big Share Services Pvt. Ltd., the Registrar and Share ....13 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
We inform you that the Members at the 41st AGM held on 30.09.2026 have approved -(1) Re- appointment of M/s. Hegde & Associates, Chartered Accountants as Statutory Auditors of the Company ....9 Oct 2026 · Company Update / Change in Management
Pursuant to the provisions of Regulation 30 of Listing Regulations, the shareholders of the Company at 41 AGM of the Company, held on Wednesday, September 30, 2026, we wish to inform you ....30 Sep 2026 · Company Update / Change in Directorate
The 41st AGM of the Company was held today i.e. on Wednesday September 30 2026 at 02.00 p.m........Pursuant to Regulation 44(3) of SEBI LODR we are submitting herewith the details regarding ....30 Sep 2026 · AGM/EGM / AGM
Pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (LODR) Regulations 2015 please find enclosed a summary off the Proceedings of the 41st AGM of the Company ....30 Sep 2026 · AGM/EGM / AGM
This is to inform that pursuant to SEBI(PIT) Regulation 2015 and the company''s Code of Fair Disclosure and Conduct for prevention of Insider Trading....................will be closed from ....26 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Pursuant to applicable provisions of the SEBI(LODR) Regulation 2015, we enclose herewith the copy of Notice of 41st AGM PUBLISHED ON September 05.09.2026 in the Newspapers viz. Active Times ....5 Sep 2026 · Company Update / Newspaper Publication
AS ATTACHED3 Sep 2026 · AGM/EGM / AGM
In compliance with the Regulation 30 and Regulation 36(1)(b) of the SEBI (LODR)regulation, 2015 we wish to inform you that the Company has sent letters , inter alia, containing Web Link ....3 Sep 2026 · Company Update / General
NOTICE OF FORTY-FIRST ANNUAL GENERAL MEETING & THE INTEGRATED ANNUAL REPORT FOR THE FINANCIAL YEAR 2025-26 ........AS ATTACHED3 Sep 2026 · Others / Reg. 34 (1) Annual Report
Intimation regarding Advertisement for 41st Annual General Meeting and information on E-Voting and other related information. Pursuant to applicable provisions of SENI (LDOR) Regulations, ....22 Aug 2026 · Company Update / Newspaper Publication
Submission of newspaper clippings of Publication of Unaudited Financial Results for the quarter ended 30.06.202615 Aug 2026 · Company Update / Newspaper Publication
This refers to your e-mail Ref. No. L/SURV/ONL/PV/SJ/2026-2027/4148 dated August 14, 2026 on the captioned subject....... The movement in price of the shares is purely market driven. ....15 Aug 2026 · Company Update / General
The Exchange has sought clarification from Tarmat Ltd on August 14, 2026 with reference to significant movement in price, in order to ensure that investors have latest relevant information ....14 Aug 2026 · Company Update / Clarification
Pursuant to Regulation 30 of SEBI........1) Cut of date as Thursday September 24, 2026 for the purpose of remote e-voting facility to the members (2) The Remote E-voting will start on ....14 Aug 2026 · Company Update / General
Closure of the Register of Members and Share Transfer Books of the Company from Wednesday 23.09.2026 to Wednesday 30.09.2026.....14 Aug 2026 · Corp. Action / Book Closure
Pursuant to Regulation of SEBI (LODR) regulations 2015. we wish to inform you that......14 Aug 2026 · AGM/EGM / AGM
In terms of Regulation 30 of SEBI (LODR) ........14 Aug 2026 · Company Update / Change in Management
Pursuant to Regulation 30 of the SEBI........14 Aug 2026 · Result / Financial Results
Pursuant to regulation 30 of the SEBI......14 Aug 2026 · Board Meeting / Outcome of Board Meeting
Pursuant to Regulation 30 read with Regulation 31A960(C ) OF the SEBI (LODR) Regulations, 2015, we regret to inform you about the sad demise of Mrs. Saramma Varghese, an individual belonging ....4 Aug 2026 · Company Update / Demise
Tarmat Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 14/08/2026 ,inter alia, to consider and approve Pursuant to Regulation 29 (1) (a) of ....3 Aug 2026 · Board Meeting / Board Meeting
Please find enclosed herewith Certificate issued under Regulation 74(5) of SEBI ( Depositories and Participants) regulations, 2018 by Big Share Services Pvt. Ltd. the registrar and share ....6 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Pursuant to SEBI (PIT) Regulations, 2015 and Company''s Code of fair Disclosure and Conduct for prevention of Insider Trading, The Trading Window for dealing in shares of the Company by ....26 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
In compliance with regulation 47 of SEBI (LODR) Regulations, 2015, please find enclosed Audited Financial Results of the Company for the quarter and year ended 31.03.2026 published in (1) ....1 Jun 2026 · Company Update / Newspaper Publication
In terms of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that the Board of ....30 May 2026 · Board Meeting / Outcome of Board Meeting
In terms of Regulation 30 of the SEBI (LODR) Regulation 2015 ................. Audited Results attached30 May 2026 · Result / Financial Results
In terms of the Regulation 24A of SEBI (LODR) Regulations, 2015 read with SEBI Circular No.CIR/CFD/CMD1/27/2019 dated February 08, 2019, we are enclosing herewith Annual Secretarial Compliance ....29 May 2026 · Company Update / Reg.24(A)-Annual Secretarial Compliance
Tarmat Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 30/05/2026 ,inter alia, to consider and approve Pursuant to Regulation 29 of the SEBI ....13 May 2026 · Board Meeting / Board Meeting
Please find enclosed herewith a Certificate issued under Regulation 74(5) of SEBI ( Depository and Participants) Regulations, 2018, by Big Share Services Pvt. Ltd., the Registrar and Share ....11 Apr 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
This is to inform that in terms of the "Code of Conduct For Monitoring and Prevention of Insider Trading" adopted by the Company under the SEBI(PIT)Regulations, 2015 the Trading Window ....25 Mar 2026 · Insider Trading / SAST / Closure of Trading Window
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Dilip Varghese4 Mar 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
Disclosure under Regulation 7(2)(b) of SEBI (PIT) Regulations, 2015 - is attached4 Mar 2026 · Company Update / Code of Conduct under SEBI (PIT) Regulations, 2015
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Dilip Varghese26 Feb 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
Disclosure under Regulation 7(2)(b) of SEBI (PIT) Regulations, 2015. With reference to the above file attached.25 Feb 2026 · Company Update / Code of Conduct under SEBI (PIT) Regulations, 2015
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Dilip Varghese24 Feb 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
Disclosure under Regulation 7(2)(b) of SEBI (PIT) Regulations, 2015. Please note that Mr. Dilip Varghese Promoter Director of Tarmat Limited has acquired 861 Equity Shares representing ....23 Feb 2026 · Company Update / Code of Conduct under SEBI (PIT) Regulations, 2015
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Arton Global19 Feb 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011

Board meetings

14 Nov 2026 Board Meeting - Financial Results
14 Aug 2026 Board Meeting - Financial Results