₹48.33
▲ +0.15 +0.31%
17 Jul 2026
NSE Listed
Tarmat Limited (TARMAT)
Volume: 8,081Avg Vol 1W: 5,615.6Avg Vol 1M: 13,247.8552W Range:₹46.26₹73.9
Key Ratios
Checked 23h agoMarket Cap₹121 Cr
Current Price₹48.33
Previous Close₹48.18
High / Low (52w)₹73.9 / ₹46.26
Volume8,081
Avg Vol (1W)5,615.6
Avg Vol (1M)13,247.85
Stock P/E40.83
Book Value₹74.45
Dividend Yield0%
ROE334.4%
ROA239.1%
Revenue (TTM)₹102 Cr
Revenue Growth13.4%
Profit Margin5.32%
Total Debt₹8 Cr
Shares Outstanding3 Cr
Face Value₹10
EPS (TTM)₹2.49
P/B0.65
Debt / Equity0.07
50 DMA₹50.94
200 DMA₹52.73
Day change+0.31%
Price Chart
₹48.33▼ 21.11% · 1Y
2025-07-172026-07-15
20-day avg volume: 13K shares
Pros
- Healthy return on equity of 334.4%.
- Company is almost debt-free.
- Revenue grew 41% YoY.
- Net profit is growing year over year.
- Stock trades below its book value.
Quarterly Results
| Metric | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹22 Cr | ₹16 Cr | ₹26 Cr | ₹38 Cr | ₹25 Cr | ₹23 Cr | ₹27 Cr | ₹42 Cr |
| EBITDA | ₹1 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹1 Cr | ₹2 Cr | ₹1 Cr | ₹3 Cr |
| Net Profit | ₹1 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹3 Cr |
| EPS | — | — | — | — | — | — | — | — |
Profit & Loss (Annual)
| Metric | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹217 Cr | ₹153 Cr | ₹277 Cr | ₹197 Cr | ₹182 Cr | ₹148 Cr | ₹90 Cr | ₹102 Cr |
| EBITDA | ₹2 Cr | ₹2 Cr | ₹11 Cr | ₹7 Cr | ₹7 Cr | ₹5 Cr | ₹2 Cr | ₹3 Cr |
| Net Profit | ₹1 Cr | ₹1 Cr | ₹7 Cr | ₹5 Cr | ₹5 Cr | ₹7 Cr | ₹-1 Cr | ₹2 Cr |
| EPS | 1.13 | 0.53 | 5.15 | 3.86 | 2.15 | 2.37 | -0.51 | 0.63 |
Balance Sheet
| Metric | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | ₹260 Cr | ₹194 Cr | ₹270 Cr | ₹233 Cr | ₹220 Cr | ₹213 Cr | ₹198 Cr | ₹236 Cr |
| Total Liabilities | ₹221 Cr | ₹154 Cr | ₹214 Cr | ₹171 Cr | ₹126 Cr | ₹82 Cr | ₹68 Cr | ₹63 Cr |
| Equity | ₹39 Cr | ₹40 Cr | ₹56 Cr | ₹61 Cr | ₹94 Cr | ₹131 Cr | ₹130 Cr | ₹173 Cr |
| Total Debt | — | — | — | — | — | — | — | — |
Cash Flow
| Metric | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating | ₹-22 Cr | ₹17 Cr | ₹-11 Cr | ₹25 Cr | ₹-7 Cr | ₹18 Cr | ₹-3 Cr | ₹-11 Cr |
| Investing | ₹-2 Cr | ₹1 Cr | ₹-5 Cr | ₹-2 Cr | ₹18 Cr | ₹-1 Cr | ₹0 Cr | ₹-27 Cr |
| Financing | ₹26 Cr | ₹-17 Cr | ₹20 Cr | ₹-24 Cr | ₹-21 Cr | ₹-8 Cr | ₹4 Cr | ₹40 Cr |
| Free Cash Flow | ₹-22 Cr | ₹17 Cr | ₹-11 Cr | ₹25 Cr | ₹-7 Cr | ₹18 Cr | ₹-3 Cr | ₹-11 Cr |
Shareholding
Promoter 29.05% Institutions 1.8% Public 69.15%
Efficiency & Working Capital
ROCE3.4%
Interest Coverage2.1
Dividend Payout—
Debtor Days78 d
Inventory Days250 d
Payable Days113 d
Cash Conversion Cycle216 d
Working Capital Days328 d
Shareholding Details
As of 2026-06-30
Promoter29.1%
FII1.8%
DII0%
Institutions1.8%
Public69.2%
Promoter Pledge0%
No. of Shareholders13,251
Shareholding Pattern
Quarterly — figures in %. Latest 12 quarters.
| Period | Sept 2024 | Nov 2024 | Nov 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Oct 2025 | Oct 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 33.2% | 29.8% | 29.8% | 29.8% | 30.1% | 29.8% | 29.8% | 28.6% | 28.6% | 30.1% | 29.1% | 29.1% |
| FIIs | 2.8% | 2.5% | 2.5% | 2.5% | 3% | 2.9% | 2.9% | 1.8% | 1.8% | 1.9% | 1.8% | 1.8% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 63.9% | 67.7% | 67.7% | 67.6% | 66.9% | 67.2% | 67.2% | 69.6% | 69.6% | 68% | 69.2% | 69.2% |
| Promoter Pledge | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| No. of Shareholders | 14,628 | 14,529 | 14,529 | 14,442 | 14,358 | 14,379 | 14,596 | 14,485 | 14,485 | 14,055 | 13,485 | 13,251 |
Returns History (ROE / ROCE / ROA)
| Period | ROE | ROCE | ROA | P/E |
|---|---|---|---|---|
| 202503 | — | — | — | — |
Major Shareholders (>1%)
| Name | Category | Stake | Shares |
|---|---|---|---|
| Jerry Varghese | Shareholding of Promoter and Promoter Group | 13.2% | 33,18,021 |
| Yash Jayesh Mehta | Public Shareholding | 7.7% | 19,32,890 |
| Tarmat Holdings Pvt. Ltd. | Shareholding of Promoter and Promoter Group | 5.4% | 13,61,328 |
| Dilip Varghese | Shareholding of Promoter and Promoter Group | 5.3% | 13,18,937 |
| Ferstar Trade Private Limited | Public Shareholding | 5% | 12,50,000 |
| Faithful Vanijya Private Limited | Public Shareholding | 5% | 12,50,000 |
| Saramma Jerry Varghese | Shareholding of Promoter and Promoter Group | 4.2% | 10,51,161 |
| Kingston Vincom Private Limited | Public Shareholding | 4.2% | 10,40,000 |
| Amit Atmaram Shah Huf | Public Shareholding | 4% | 10,00,000 |
| Somani Estates Pvt Ltd | Public Shareholding | 3.9% | 9,85,784 |
| Yms Finance Private Limited | Public Shareholding | 3.9% | 9,85,785 |
| Amit Atmaram Shah | Public Shareholding | 2.6% | 6,39,427 |
| Ambika Vincom Private Limited | Public Shareholding | 2.4% | 6,00,000 |
| Gajmurti Agency Private Limited | Public Shareholding | 1.7% | 4,30,000 |
| Pine Tree Capital Market Pvt.ltd. | Public Shareholding | 1.5% | 3,77,310 |
| Tuhina Agrawal | Public Shareholding | 1% | 2,50,000 |
| Minerva Ventures Fund | Public Shareholding | 1% | 2,50,000 |
| Sneha Varghese | Shareholding of Promoter and Promoter Group | 0.7% | 1,76,400 |
| Neha Dilip Varghese | Shareholding of Promoter and Promoter Group | 0.2% | 55,833 |
| Tarmat Construction Pvt. Ltd. | Shareholding of Promoter and Promoter Group | 0% | 120 |
Promoter Pledges
| Holder | Pledged Shares | % of Holding | As of |
|---|---|---|---|
| Saramma Jerry Varghese | 0 | 0% | 2026-06-30 |
| Jerry Varghese | 0 | 0% | 2026-06-30 |
| Sneha Varghese | 0 | 0% | 2026-06-30 |
| Dilip Varghese | 0 | 0% | 2026-06-30 |
| Neha Dilip Varghese | 0 | 0% | 2026-06-30 |
| Tarmat Construction Pvt. Ltd. | 0 | 0% | 2026-06-30 |
| Tarmat Holdings Pvt. Ltd. | 0 | 0% | 2026-06-30 |
| Minerva Ventures Fund | 0 | 0% | 2026-06-30 |
| Amit Atmaram Shah Huf | 0 | 0% | 2026-06-30 |
| Yash Jayesh Mehta | 0 | 0% | 2026-06-30 |
| Amit Atmaram Shah | 0 | 0% | 2026-06-30 |
| Tuhina Agrawal | 0 | 0% | 2026-06-30 |
Board of Directors
| Name | Designation | Year |
|---|---|---|
| Jerry Varghese | Chairman & Non Executive Dir. | 2025 |
| Dilip Verghese | Executive Director & MD | 2025 |
| Amit Shah | Non Independent Executive Director / WTD | 2025 |
| Kishan Kumar Kinra | Independent Non Exe. Director | 2025 |
| Kishanrao Marutirao Godbole | Independent Non Exe. Director | 2025 |
| Priyanka Bhushan Sahani | Independent Non Exe. Director | 2025 |
| S Chakraborty | CFO / Company Secretary / Compliance Officer | 2025 |
Segments — Product
| Segment | Revenue | Share |
|---|---|---|
| Construction | ₹0 Cr | — |
Capital Structure (₹ Cr)
| Year | Face Value | Authorised | Issued | Paid-up |
|---|---|---|---|---|
| 2025 | ₹10 | 33 | 24 | 24 |
Related-Party Transactions (₹ Cr)
| Year | Subsidiaries | Associates | JV | KMP | Others | Total |
|---|---|---|---|---|---|---|
| 2025 | 0 | 0 | 0 | 1 | 0 | 1 |
| 2025 | 0 | 0 | 0 | 1 | 0 | 1 |
| 2025 | 0 | 0 | 0 | 1 | 0 | 1 |
Insider / Designated-Person Trades
16 recent disclosure(s)
DILIP VARGHESEAcquisition · 13,000
DILIP VARGHESEAcquisition · 17,000
DILIP VARGHESEAcquisition · 861
DILIP VARGHESEAcquisition · 19,000
DILIP VARGHESEAcquisition · 9,000
DILIP VARGHESEAcquisition · 16,922
Substantial Acquisitions (SAST)
13 disclosure(s)
Market24/02/2026 · 17,000
Market20/02/2026 · 861
Market28/11/2025 · 19,000
Market24/11/2025 · 9,000
Market21/11/2025 · 16,922
Market20/11/2025 · 16,000
Company Information
Incorporated1986
ChairmanJerry Varghese
AuditorHegde & Associates
Investor Email[email protected]; [email protected]
📍 Tank Road Off Gen Vaidya Marg, Garegaon (East), Mumbai, Maharashtra, 400063
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