TARMAT
Tarmat financials
- Market cap
- ₹150 Cr
- Sector
- Construction
Quarterly results
Q1 FY27: revenue up 18.6%, net profit down 18.8% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 16 | 26 | 38 | 25 | 23 +46% | 27 +4% | 42 +12% | 30 +19% |
| EBITDA | 1 | 1 | 1 | 1 | 1 +102% | 2 +205% | 3 +338% | 1 +12% |
| Net profit | 0 | 0 | 1 | 1 | 1 +256% | 1 +232% | 3 +474% | 1 −19% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +15.3% 1Y
1Y: ₹51.71 on 10 Sept 2025 → ₹59.6. High ₹71.14 (27 Feb 2026), low ₹47.48 (12 Jan 2026).
Financials, as filed
Revenue grew 14.6% a year over 2 years, FY24 to FY26. Operating margin widened to 6.1%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹89 Cr | ₹101 Cr | ₹117 Cr |
| Operating profit | ₹2 Cr | ₹3 Cr | ₹7 Cr |
| Operating margin | 2.7% | 2.8% | 6.1% |
| Interest | ₹1 Cr | ₹1 Cr | ₹1 Cr |
| Depreciation | ₹1 Cr | ₹1 Cr | ₹1 Cr |
| Net profit | ₹-1 Cr | ₹2 Cr | ₹7 Cr |
| Net margin | -1.3% | 1.8% | 5.6% |
| Cash from operations | ₹-3 Cr | ₹-9 Cr | ₹7 Cr |
| Free cash flow | ₹-3 Cr | ₹-15 Cr | ₹0 Cr |
| ROCE | 2.0% | 2.0% | 4.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹13 Cr | ₹16 Cr | ₹21 Cr | ₹21 Cr | ₹24 Cr | ₹25 Cr |
| Reserves | ₹48 Cr | ₹78 Cr | ₹109 Cr | ₹108 Cr | ₹151 Cr | ₹162 Cr |
| Borrowings | ₹89 Cr | ₹43 Cr | ₹6 Cr | ₹10 Cr | ₹11 Cr | ₹15 Cr |
| Other liabilities | ₹58 Cr | ₹56 Cr | ₹57 Cr | ₹39 Cr | ₹49 Cr | ₹38 Cr |
| Total liabilities | ₹209 Cr | ₹192 Cr | ₹194 Cr | ₹179 Cr | ₹235 Cr | ₹240 Cr |
| Fixed assets | ₹17 Cr | ₹16 Cr | ₹16 Cr | ₹15 Cr | ₹22 Cr | ₹26 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹27 Cr | ₹9 Cr | ₹10 Cr | ₹10 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹164 Cr | ₹167 Cr | ₹168 Cr | ₹154 Cr | ₹214 Cr | ₹214 Cr |
| Total assets | ₹209 Cr | ₹192 Cr | ₹194 Cr | ₹179 Cr | ₹235 Cr | ₹240 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public added +1.94 pp while FIIs trimmed −1.14 pp. The shareholder count shrank 8% to 13,251.
- Promoters
- 29.1%
- FIIs
- 1.8%
- Public
- 69.2%
Since Jun 2025
- Public +1.94 pp
- FIIs −1.14 pp
- Promoters −0.79 pp
How it drifted, 12 quarters
Over this window promoters fell from 33.3% to 29.1% — −4.2 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 33.3%, Public 66.8%.Dec '23: Promoters 33.3%, Public 66.8%.Mar '24: Promoters 33.3%, FIIs 0.1%, Public 66.7%.Jun '24: Promoters 33.3%, FIIs 0.1%, Public 66.7%.Sep '24: Promoters 33.3%, FIIs 2.8%, Public 63.9%.Dec '24: Promoters 29.8%, FIIs 2.5%, Public 67.6%.Mar '25: Promoters 30.1%, FIIs 3.0%, Public 66.9%.Jun '25: Promoters 29.8%, FIIs 2.9%, Public 67.2%.Sep '25: Promoters 29.8%, FIIs 2.9%, Public 67.2%.Dec '25: Promoters 30.1%, FIIs 1.9%, Public 68.0%.Mar '26: Promoters 29.1%, FIIs 1.8%, Public 69.2%.Jun '26: Promoters 29.1%, FIIs 1.8%, Public 69.2%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Pine Tree Capital Market Pvt.Ltd. newly disclosed 1.51% held
- Yash Jayesh Mehta +0.24 pp 7.71% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Tarmat Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Jerry Varghese | 13.24% | unchanged |
| Yash Jayesh Mehta | 7.71% | +0.24 pp |
| Tarmat Holdings Pvt. Ltd. | 5.43% | unchanged |
| Dilip Varghese | 5.26% | unchanged |
| Ferstar Trade Private Limited | 4.99% | unchanged |
| Faithful Vanijya Private Limited | 4.99% | unchanged |
| Saramma Jerry Varghese | 4.19% | unchanged |
| Kingston Vincom Private Limited | 4.15% | unchanged |
| Amit Atmaram Shah Huf | 3.99% | unchanged |
| Somani Estates Pvt Ltd | 3.93% | unchanged |
| Yms Finance Private Limited | 3.93% | unchanged |
| Amit Atmaram Shah | 2.55% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Tarmat Limited
Guides on how to read this kind of business and the numbers that matter.