Tarmat Ltd. (IN:TARMAT)
:TARMAT
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Tarmat Ltd.
(TARMAT)
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Rating:58Neutral
Price Target:
₹57.00
▲(10.72% Upside)
Action:ReiteratedDate:02/28/26
The score is held back primarily by mixed financial performance—especially weak/volatile cash flows and declining revenue—despite balance-sheet stability. Technicals are supportive with strong bullish momentum, but valuation is a headwind due to a high P/E and no dividend yield provided.
Positive Factors
Balance Sheet Strength
A strong equity base and improved leverage give Tarmat durable financial flexibility. This stability supports working capital needs, access to credit, and the ability to withstand cyclical downturns or fund strategic investments without immediate reliance on volatile operating cash flows.
Negative Factors
Weak Cash Generation
Persistent negative and volatile operating and free cash flow is a core durability risk. It constrains reinvestment, forces reliance on external financing, and reduces resilience to delays or cost shocks. Over months, weak cash conversion can impair strategic options and capital expenditures.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
A strong equity base and improved leverage give Tarmat durable financial flexibility. This stability supports working capital needs, access to credit, and the ability to withstand cyclical downturns or fund strategic investments without immediate reliance on volatile operating cash flows.
Read all positive factors
Tarmat Ltd. (TARMAT) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.37B
Dividend YieldN/A
Average Volume (3M)12.89K
Price to Earnings (P/E)27.6
Beta (1Y)1.09
Revenue Growth38.17%
EPS GrowthN/A
CountryIN
Employees110
SectorBasic Materials
Sector Strength58
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.46
Shares Outstanding25,064,255
10 Day Avg. Volume9,896
30 Day Avg. Volume12,887
Financial Highlights & Ratios
PEG Ratio-0.21
Price to Book (P/B)0.63
Price to Sales (P/S)1.08
P/FCF Ratio-2.93
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)N/A
Revenue Forecast (FY)N/A
Tarmat Ltd. Business Overview & Revenue Model
Company Description
Tarmat Limited operates as an infrastructure company in India. It undertakes various construction works, including airport runway, highways, and railways; and develops infrastructure projects, such as ports, industrial area developments, refinerie...
Tarmat Ltd. Financial Statement Overview
Summary
Income Statement
55
Neutral
Balance Sheet
65
Positive
Cash Flow
50
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.04B | 1.01B | 893.53M | 1.44B | 1.81B | 1.96B |
| Gross Profit | 155.12M | 69.02M | 134.40M | 177.02M | 214.69M | 184.81M |
| EBITDA | 40.75M | 38.38M | 24.84M | 21.58M | 77.13M | 84.60M |
| Net Income | 20.10M | 18.69M | -11.32M | 74.15M | 45.77M | 51.47M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 2.36B | 1.98B | 2.13B | 2.20B | 2.33B |
| Cash, Cash Equivalents and Short-Term Investments | 98.27M | 98.27M | 57.06M | 50.41M | 44.42M | 146.79M |
| Total Debt | 0.00 | 95.38M | 104.67M | 59.52M | 433.60M | 894.71M |
| Total Liabilities | -1.73B | 625.90M | 684.02M | 823.15M | 1.26B | 1.71B |
| Stockholders Equity | 1.73B | 1.73B | 1.30B | 1.31B | 935.75M | 612.92M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -373.13M | -32.48M | 878.09K | 199.89M | 238.35M |
| Operating Cash Flow | 0.00 | -95.96M | -32.01M | 955.60K | 202.54M | 264.19M |
| Investing Cash Flow | 0.00 | -271.68M | 136.00K | -8.45M | 179.16M | -19.35M |
| Financing Cash Flow | 0.00 | 408.83M | 38.53M | -80.10M | -209.89M | -238.74M |
Tarmat Ltd. Technical Analysis
Positive
51.48
Price Trends
54.82
Negative
53.39
Positive
53.80
Positive
Market Momentum
-0.74
Positive
49.48
Neutral
55.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TARMAT, the sentiment is Positive. The current price of 51.48 is below the 20-day moving average (MA) of 55.31, below the 50-day MA of 54.82, and below the 200-day MA of 53.80, indicating a neutral trend. The MACD of -0.74 indicates Positive momentum. The RSI at 49.48 is Neutral, neither overbought nor oversold. The STOCH value of 55.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:TARMAT.
Tarmat Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹1.01B | 6.65 | ― | ― | 19.37% | 40.55% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | ₹1.37B | 27.61 | ― | ― | 38.17% | ― | |
57 Neutral | ₹4.31B | 15.95 | ― | ― | 0.19% | -2962.74% | |
38 Underperform | ₹313.63M | -0.11 | ― | ― | -52.19% | -3109.52% |
* Basic Materials Sector Average
IN:TARMAT
Tarmat Ltd.
54.70
4.20
8.32%
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IN:INSILCO
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―
―
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IN:SALSTEEL
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23.83
136.17%
Tarmat Ltd. Corporate Events
Tarmat Closes Trading Window Ahead of FY26 Audited Results
Mar 25, 2026
Tarmat Limited has announced the closure of its trading window for designated and connected persons, including their immediate relatives, from April 1, 2026, until 48 hours after the release of its audited standalone and consolidated financial res...
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.