TARC Limited (IN:TARC)
:TARC
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TARC Limited
(TARC)
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Rating:44Neutral
Price Target:
₹126.00
▼(-30.88% Downside)
Action:Reiterated
Date:05/31/26
The score is held down primarily by weak and inconsistent cash flows (negative operating/free cash flow in FY2026) alongside elevated leverage, which outweigh the reported FY2026 earnings rebound. Technical indicators are also soft (negative MACD and trading below key longer-term averages), and valuation metrics offer limited support due to a negative P/E and no dividend yield.
Positive Factors
Revenue and earnings rebound
FY2026’s sharp revenue rise to ~6.7B and a return to positive net income (~191M) demonstrates the company can monetize project inventory and recover profitability. That recovery signals operational execution on launches and sales, a durable prerequisite for rebuilding cash generation if sustained across project cycles.
Negative Factors
Weak cash generation
Despite reported net profit in FY2026, operating and free cash flows were materially negative, reflecting timing mismatch in collections and project spend. Persistent negative cash generation raises dependence on external funding for project execution and increases vulnerability to capital-market disruptions over the coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and earnings rebound
FY2026’s sharp revenue rise to ~6.7B and a return to positive net income (~191M) demonstrates the company can monetize project inventory and recover profitability. That recovery signals operational execution on launches and sales, a durable prerequisite for rebuilding cash generation if sustained across project cycles.
Read all positive factors
TARC Limited (TARC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹37.77B
Dividend YieldN/A
Average Volume (3M)32.60K
Price to Earnings (P/E)218.9
Beta (1Y)1.23
Revenue Growth1589.72%
EPS GrowthN/A
CountryIN
Employees187
SectorServices
Sector StrengthN/A
IndustryReal Estate - Development
Share Statistics
EPS (TTM)-3.20
Shares Outstanding295,096,340
10 Day Avg. Volume33,562
30 Day Avg. Volume32,601
Financial Highlights & Ratios
PEG Ratio-0.15
Price to Book (P/B)0.43
Price to Sales (P/S)0.68
P/FCF Ratio-2.21
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)2
Revenue Forecast (FY)₹12.00B
TARC Limited Business Overview & Revenue Model
Company Description
TARC Limited is an Indian enterprise primarily focused on property development. Its activities encompass a broad range of real estate projects, including residential housing, hotels, branded and serviced apartments, industrial warehouses, and reta...
How the Company Makes Money
TARC primarily makes money by developing real estate projects and selling completed (or under-construction) residential and mixed-use units. Revenue is typically recognized from (a) sale of apartments/units in its projects, including collections t...
TARC Limited Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
46
Neutral
Cash Flow
34
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.04B | 6.72B | 336.89M | 1.12B | 1.85B | 954.53M |
| Gross Profit | 617.27M | 3.89B | -96.70M | 706.59M | 814.23M | -1.85B |
| EBITDA | -1.33M | 775.14M | -1.28B | 561.16M | 1.65B | -1.46B |
| Net Income | -947.17M | 190.71M | -2.31B | -770.46M | 203.40M | -2.33B |
Balance Sheet | ||||||
| Total Assets | 45.48B | 46.00B | 42.16B | 34.66B | 31.66B | 29.79B |
| Cash, Cash Equivalents and Short-Term Investments | 1.88B | 810.91M | 2.05B | 588.42M | 1.06B | 193.49M |
| Total Debt | 19.62B | 18.95B | 19.54B | 13.93B | 13.86B | 11.79B |
| Total Liabilities | 34.67B | 35.37B | 31.72B | 21.91B | 18.14B | 16.47B |
| Stockholders Equity | 10.81B | 10.62B | 10.43B | 12.75B | 13.52B | 13.32B |
Cash Flow | ||||||
| Free Cash Flow | 2.45B | -2.08B | 57.02M | 1.17B | -876.05M | -811.72M |
| Operating Cash Flow | 2.65B | -1.76B | 429.55M | 1.58B | -810.12M | -811.72M |
| Investing Cash Flow | -393.69M | 2.67B | -678.05M | -390.62M | 745.16M | 3.67B |
| Financing Cash Flow | -1.62B | -612.94M | 142.64M | -1.66B | 958.92M | -2.79B |
TARC Limited Technical Analysis
Neutral
182.30
Price Trends
130.76
Negative
137.24
Negative
146.16
Negative
Market Momentum
-1.38
Negative
49.24
Neutral
68.39
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TARC, the sentiment is Neutral. The current price of 182.3 is above the 20-day moving average (MA) of 128.90, above the 50-day MA of 130.76, and above the 200-day MA of 146.16, indicating a bearish trend. The MACD of -1.38 indicates Negative momentum. The RSI at 49.24 is Neutral, neither overbought nor oversold. The STOCH value of 68.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:TARC.
TARC Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ₹39.09B | 31.28 | ― | 0.85% | 116.20% | 552.90% | |
61 Neutral | ₹28.64B | 18.72 | ― | ― | 57.54% | 178.72% | |
59 Neutral | ₹27.61B | 13.45 | ― | 0.19% | -14.48% | -9.32% | |
57 Neutral | ₹45.90B | 22.71 | ― | 0.36% | 29.46% | 35.84% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
49 Neutral | ₹33.23B | -85.83 | ― | 1.01% | -57.20% | -133.26% | |
44 Neutral | ₹37.77B | 218.95 | ― | ― | 1589.72% | ― |
* Services Sector Average
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TARC Limited Corporate Events
TARC Publishes Regulatory Notices in Financial Express and Jansatta
May 31, 2026
TARC Limited has notified the stock exchanges that it has published mandatory newspaper advertisements in the Financial Express and Jansatta in line with SEBI’s Listing Obligations and Disclosure Requirements Regulations, 2015. The move unde...
TARC Limited Files FY26 Investor Presentation With Indian Stock Exchanges
May 29, 2026
TARC Limited has submitted an investor presentation to the Indian stock exchanges in compliance with SEBI’s listing and disclosure regulations. The presentation, relating to FY26 and highlighting that handover has commenced at its Tripundra ...
TARC boosts luxury real estate pipeline with ₹9,000 crore in flagship projects
Apr 15, 2026
TARC Limited reported a robust performance for FY2026, underpinned by progress across its luxury residential projects in Delhi NCR and the start of revenue recognition from completed phases. The developer is leveraging delivery milestones and new ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.