Roman Tarmat

Mumbai, India Founded: 1986 • Age: 40 yrs Listed
Road surfacing and tarmac construction services are provided in India.

About Roman Tarmat

Roman Tarmat is a publicly listed company based in Mumbai (India) founded in 1986. Road surfacing and tarmac construction services are provided in India. The company has 61 employees. Its chief executive, as recorded, is Dilip Varghese. Its Indian entity Tarmat Limited reported revenue of ₹119 Cr. Roman Tarmat offers products and services including Online Casino Services and Bonuses and Promotions.

Company details

Roman Tarmat was established in 1986 and is headquartered in Mumbai, India. Focus is placed on the construction sector, particularly bituminous road surfacing and maintenance. Operations involve the application of tarmac materials for infrastructure projects. Services are extended to various clients within the Indian geography. The company is led by CEO Dilip Varghese, with activities centered on practical engineering solutions for roadways.

Key Metrics
  • Market Cap
    ₹141 Cr

    TARMAT · NSE

  • Share Price
    ₹56.93

    +0.99% today

  • Revenue
    ₹117 Cr

    FY 2025-26 · +15.9% YoY

  • EBITDA
    ₹6.88 Cr

    Margin 5.9%

  • Net Profit
    ₹6.24 Cr

    FY 2025-26 · +348.9% YoY

  • P/E (TTM)
    20.2x

    P/B 0.8x

  • Employee Count
    61

Products & Services of Roman Tarmat

Roman Tarmat offers a comprehensive portfolio of products and services, including Online Casino Services and Bonuses and Promotions.

Online Casino Services
Gaming Services

Online gambling services are provided through the platform for user engagement.

Bonuses and Promotions
Customer Incentives

Unique bonuses are distributed to subscribers via the channel.

Board of directors of Tarmat Limited (Roman Tarmat)

Tarmat Limited is the primary company behind Roman Tarmat. The board of Tarmat Limited currently have 6 directors; the longest-serving is Amit Atmaram Shah, appointed in 2019. 13 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Amit Atmaram Shah
DIN 08467309
Whole-time director30 May 20197 yrs 5 moTarmat Limited
Krishan Kumar Kinra
DIN 03412973
Director17 Oct 20197 yrsTarmat Limited
Jerry Eapen Varghese
DIN 00012905
Director04 Aug 20233 yrs 3 moTarmat Limited
Dilip Jerry Varghese
DIN 01424196
Managing Director04 Aug 20233 yrs 3 moTarmat Limited
Kishanrao Marutirao Godbole
DIN 10769888
Director05 Sep 20242 yrs 2 moTarmat Limited
Priyanka Bhushan Sahani
DIN 07827966
Director07 May 20251 yr 6 moTarmat Limited

People of Roman Tarmat

1 people are tracked at Roman Tarmat (1 in leadership); the tracked headcount is 61.

NameRoleGroup
CEOLeadership
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IPO & Listings of Roman Tarmat

Roman Tarmat is a publicly listed company on the NSE with ticker symbol TARMAT in India, operating in the Infrastructure Developers & Operators sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • IPO date07 Sep 2007
  • Listed onBSE: 532869
  • Listed entityTarmat Limited
  • Exchange sectorInfrastructure Developers & Operators

Financials of Roman Tarmat

Exchange-reported figures of Tarmat Limited, the listed company behind Roman Tarmat (NSE: TARMAT).

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹117 Cr
+15.9% YoY
EBITDA
₹6.88 Cr
+111.7% YoY
Profit After Tax
₹6.24 Cr
+348.9% YoY
Net Worth
₹187 Cr
+7.7% YoY
Total Assets
₹202 Cr
+10.3% YoY
Total Debt
₹15.02 Cr
+57.6% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue11710189.35144181196276
Revenue growth+15.9%+13.4%-37.8%-20.6%-7.6%-29.1%-
EBITDA6.883.25(0.14)2.157.047.1311.12
EBITDA margin+5.9%+3.2%-0.2%+1.5%+3.9%+3.6%+4.0%
Profit before tax5.741.80(1.27)7.284.664.028.81
Net profit6.241.391.474.894.585.156.84
Net profit margin+5.3%+1.4%+1.7%+3.4%+2.5%+2.6%+2.5%
EPS (₹)2.510.78(0.53)3.482.903.865.15
Balance sheet
Total assets202183141138138152167
Net worth18717313013193.5861.2956.15
Total debt15.029.5310.465.9643.3689.47110
Cash & bank20.529.835.715.044.4614.7027.85
Net working capital15814710910410894.5298.83
Cash flow
Cash from operations7.52(9.16)(3.20)9.46(7.12)26.42(13.04)
Cash from investing(7.44)(26.90)0.01(0.85)17.92(1.94)(5.47)
Cash from financing11.4940.193.85(8.01)(20.99)(23.87)20.09
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue35.8142.4627.3122.6724.9437.7926.1415.57
Revenue growth (YoY)+43.6%+12.4%+4.5%+45.6%+14.5%---
Other income0.060.390.040.750.060.780.230.04
EBITDA2.462.891.741.131.120.730.570.56
EBITDA margin+6.9%+6.8%+6.4%+5.0%+4.5%+1.9%+2.2%+3.6%
Depreciation0.310.370.320.290.290.570.400.18
Interest0.310.260.410.210.250.320.110.04
Profit before tax1.902.651.051.380.640.620.290.38
Tax0.37(0.30)(0.07)(0.08)(0.06)0.05(0.05)(0.03)
Net profit1.532.951.121.460.700.570.340.41
EPS (₹)0.621.180.460.610.300.190.160.19
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue11710189.35144162171233
Revenue growth+15.9%+13.4%-37.8%-11.3%-5.1%-26.8%-
EBITDA7.183.25(0.14)2.156.977.1910.97
EBITDA margin+6.1%+3.2%-0.2%+1.5%+4.3%+4.2%+4.7%
Profit before tax6.051.80(1.27)7.284.664.008.84
Net profit6.551.391.474.894.005.046.93
Net profit margin+5.6%+1.4%+1.7%+3.4%+2.5%+3.0%+3.0%
EPS (₹)2.640.78(0.53)3.482.903.825.19
Balance sheet
Total assets203183141138138152168
Net worth18717313013193.5861.2956.20
Total debt15.029.5310.465.9643.3689.47110
Cash & bank20.399.833.625.044.4614.6527.77
Net working capital15014099.2696.4310190.60101
Cash flow
Cash from operations7.48(9.16)(3.20)9.46(7.12)26.41(13.55)
Cash from investing(7.51)(26.90)0.01(0.85)17.92(1.94)(4.99)
Cash from financing11.4940.193.85(8.01)(20.99)(23.87)20.09
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue29.5942.4627.3122.6724.9437.7926.1415.57
Revenue growth (YoY)+18.6%+12.4%+4.5%+45.6%+14.5%---
Other income0.060.390.040.750.060.780.230.04
Total expenses28.3339.2625.5721.5423.8237.0625.5715.01
EBITDA1.263.201.741.131.120.730.570.56
EBITDA margin+4.3%+7.5%+6.4%+5.0%+4.5%+1.9%+2.2%+3.6%
Depreciation0.300.360.320.290.290.570.400.18
Interest0.310.260.410.210.250.320.110.04
Profit before tax0.712.971.051.380.640.620.290.38
Tax0.15(0.30)(0.07)(0.08)(0.06)0.05(0.05)(0.03)

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 08 Nov 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue35.8142.4627.3122.6724.9437.7926.1415.57
Revenue growth (YoY)+43.6%+12.4%+4.5%+45.6%+14.5%---
Other income0.060.390.040.750.060.780.230.04
EBITDA2.462.891.741.131.120.730.570.56
EBITDA margin+6.9%+6.8%+6.4%+5.0%+4.5%+1.9%+2.2%+3.6%
Depreciation0.310.370.320.290.290.570.400.18
Interest0.310.260.410.210.250.320.110.04
Profit before tax1.902.651.051.380.640.620.290.38
Tax0.37(0.30)(0.07)(0.08)(0.06)0.05(0.05)(0.03)
Net profit1.532.951.121.460.700.570.340.41
EPS (₹)0.621.180.460.610.300.190.160.19
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue11710189.35144181196276
Revenue growth+15.9%+13.4%-37.8%-20.6%-7.6%-29.1%-
Other income1.241.050.446.681.061.330.88
Total expenses11098.0389.49142174189265
Employee cost0.009.247.149.378.565.915.44
EBITDA6.883.25(0.14)2.157.047.1311.12
EBITDA margin+5.9%+3.2%-0.2%+1.5%+3.9%+3.6%+4.0%
Depreciation1.261.330.841.041.061.380.82
Interest1.121.170.730.512.383.062.37
Profit before tax5.741.80(1.27)7.284.664.028.81
Tax(0.50)(0.06)(0.13)(0.13)0.08(1.13)1.97
Net profit6.241.391.474.894.585.156.84
Net profit margin+5.3%+1.4%+1.7%+3.4%+2.5%+2.6%+2.5%
EPS (₹)2.510.78(0.53)3.482.903.865.15
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital25.0624.0621.3121.3115.8013.3313.33
Reserves & surplus16213410810967.8547.9642.82
Shareholders' funds (net worth)18717313013193.5861.2956.15
Minority interest0.000.000.000.000.000.000.00
Secured loans12.326.836.261.953.304.894.23
Unsecured loans2.702.704.204.0140.0684.58106
Total debt15.029.5310.465.9643.3689.47110
Total liabilities202183141138138152167
Assets
Gross block86.4878.6873.4273.3872.6072.3469.75
Net block27.3820.8416.3017.1117.3618.1616.95
Capital work in progress0.020.000.000.000.000.000.00
Investments1.051.051.051.051.0519.2319.23
Inventories72.0769.3871.7467.5579.8769.3075.77
Sundry debtors21.3321.7212.8322.4022.4812.9423.17
Cash & bank balances20.529.835.715.044.4614.7027.85
Loans & advances10398.5075.8984.2182.8777.8574.33
Total current assets216199166179190175201
Total current liabilities58.7352.3157.2275.1781.6980.27102
Net working capital15814710910410894.5298.83
Total assets202183141138138152167
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash9.835.715.044.4414.633.872.29
Net cash from operating activities7.52(9.16)(3.20)9.46(7.12)26.42(13.04)
Net cash from investing activities(7.44)(26.90)0.01(0.85)17.92(1.94)(5.47)
Net cash from financing activities11.4940.193.85(8.01)(20.99)(23.87)20.09
Net change in cash11.574.120.670.60(10.19)0.611.58
Closing cash20.529.835.715.044.4614.7027.85
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+15.9%+13.4%-37.8%-20.6%-7.6%-29.1%-
EBITDA growth+111.7%+2421.4%-106.5%-69.5%-1.3%-35.9%-
PBT growth+218.9%+9998.0%-+56.2%+15.9%-54.4%+1158.6%
Net income growth+348.9%-5.4%-69.9%+6.8%-11.1%-24.7%-
Revenue CAGR (3Y)-6.5%-17.6%-23.0%-19.6%+11.2%-1.6%+51.6%
EBITDA CAGR (3Y)+47.4%-22.7%--42.2%--+121.7%
Profitability & leverage
Net income margin+5.3%+1.8%-1.3%+5.2%+2.5%+2.6%+2.5%
Return on capital employed-+1.5%0.0%+3.4%+4.2%+3.8%+6.0%
Return on net worth-+0.9%0.0%+3.8%+4.5%+5.9%+8.3%
Debt / equity-0.070.060.220.861.702.17
Long-term debt / equity-0.060.000.010.030.972.17
Interest cover19.9360.94-74.4945.9539.8053.2223.01
Efficiency & per share
Fixed asset turnover-1.331.221.972.502.764.15
Inventory turnover-1.441.281.952.432.704.16
Debtors turnover-5.865.076.4010.2210.8512.99
EPS (₹)2.510.78(0.53)3.482.903.865.15
Dividend per share (₹)0.000.000.000.000.000.000.00
Book value per share (₹)0.0065.4560.7861.2952.8945.9142.05
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue29.5942.4627.3122.6724.9437.7926.1415.57
Revenue growth (YoY)+18.6%+12.4%+4.5%+45.6%+14.5%---
Other income0.060.390.040.750.060.780.230.04
Total expenses28.3339.2625.5721.5423.8237.0625.5715.01
EBITDA1.263.201.741.131.120.730.570.56
EBITDA margin+4.3%+7.5%+6.4%+5.0%+4.5%+1.9%+2.2%+3.6%
Depreciation0.300.360.320.290.290.570.400.18
Interest0.310.260.410.210.250.320.110.04
Profit before tax0.712.971.051.380.640.620.290.38
Tax0.15(0.30)(0.07)(0.08)(0.06)0.05(0.05)(0.03)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue11710189.35144162171233
Revenue growth+15.9%+13.4%-37.8%-11.3%-5.1%-26.8%-
Other income1.241.050.446.681.131.260.96
Total expenses11098.0389.49142155163222
Employee cost0.009.247.149.378.565.845.44
EBITDA7.183.25(0.14)2.156.977.1910.97
EBITDA margin+6.1%+3.2%-0.2%+1.5%+4.3%+4.2%+4.7%
Depreciation1.251.330.841.041.061.320.73
Interest1.121.170.730.512.383.132.36
Profit before tax6.051.80(1.27)7.284.664.008.84
Tax(0.50)(0.06)(0.13)(0.13)0.08(1.08)1.91
Net profit6.551.391.474.894.005.046.93
Net profit margin+5.6%+1.4%+1.7%+3.4%+2.5%+3.0%+3.0%
EPS (₹)2.640.78(0.53)3.482.903.825.19
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital25.0624.0621.3121.3115.8013.3313.33
Reserves & surplus16213410810967.8547.9642.87
Shareholders' funds (net worth)18717313013193.5861.2956.20
Secured loans12.326.836.261.953.304.894.23
Unsecured loans2.702.704.204.0140.0684.58106
Total debt15.029.5310.465.9643.3689.47110
Total liabilities203183141138138152168
Assets
Gross block84.7677.0471.7971.7470.9670.7068.12
Net block26.3919.9215.3916.1816.4417.2415.97
Capital work in progress0.000.000.000.000.000.000.00
Investments9.739.569.569.569.4327.0226.95
Inventories43.1042.8445.1941.0053.3242.7649.23
Sundry debtors21.3321.7212.8322.4015.7912.9417.41
Cash & bank balances20.399.833.625.044.4614.6527.77
Loans & advances10398.5075.8984.2181.3176.5167.90
Total current assets188173138153155147162
Total current liabilities37.8333.3638.2756.2254.3556.2661.45
Net working capital15014099.2696.4310190.60101
Total assets203183141138138152168
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash9.835.715.044.4414.633.832.28
Net cash from operating activities7.48(9.16)(3.20)9.46(7.12)26.41(13.55)
Net cash from investing activities(7.51)(26.90)0.01(0.85)17.92(1.94)(4.99)
Net cash from financing activities11.4940.193.85(8.01)(20.99)(23.87)20.09
Net change in cash11.464.120.670.60(10.19)0.601.55
Closing cash20.399.833.625.044.4614.6527.77
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+15.9%+13.4%-37.8%-11.3%-5.1%-26.8%-
EBITDA growth+120.9%+2421.4%-106.5%-69.2%-3.1%-34.5%-
PBT growth+236.1%+9998.0%-+56.2%+16.5%-54.8%+1127.8%
Net income growth+371.2%-5.4%-69.9%+22.3%-20.6%-27.3%-
Revenue CAGR (3Y)-6.5%-14.5%-19.4%-14.9%+19.2%+40.4%+57.0%
EBITDA CAGR (3Y)+49.5%-22.5%--41.9%--+141.4%
Profitability & leverage
Net income margin+5.6%+1.8%-1.3%+5.2%+2.8%+3.0%+3.0%
Return on capital employed-+1.5%0.0%+3.4%+3.8%+3.8%+6.0%
Return on net worth-+0.9%0.0%+3.8%+3.9%+5.8%+8.3%
Debt / equity-0.070.060.220.861.702.17
Long-term debt / equity-0.060.040.010.030.972.17
Interest cover18.8960.94-74.4945.9540.2753.3223.05
Efficiency & per share
Fixed asset turnover-1.361.252.022.292.463.57
Inventory turnover-2.302.073.053.373.715.83
Debtors turnover-5.865.077.5211.2711.2512.67
EPS (₹)2.640.78(0.53)3.482.903.825.19
Dividend per share (₹)0.000.000.000.000.000.000.00
Book value per share (₹)0.0065.4560.7861.2952.8945.9142.09
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Frequently Asked Questions about Roman Tarmat

Roman Tarmat was founded in 1986.

Roman Tarmat is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.

Dilip Varghese is the CEO of Roman Tarmat, as recorded in our data.

Roman Tarmat has 61 employees.

The primary company behind Roman Tarmat, Tarmat Limited, reported revenue of ₹119 Cr for FY 2026, up 16% year on year.

Roman Tarmat was established in 1986 and is headquartered in Mumbai, India. Focus is placed on the construction sector, particularly bituminous road surfacing and maintenance. Operations involve the application of tarmac materials for infrastructure projects. Services are extended to various clients within the Indian geography. The company is led by CEO Dilip Varghese, with activities centered on practical engineering solutions for roadways.

Roman Tarmat offers Online Casino Services and Bonuses and Promotions.

Yes, Roman Tarmat is publicly traded on NSE under the ticker symbol TARMAT.

Roman Tarmat operates through Tarmat Limited.

The legal entities of Roman Tarmat currently have 7 directors, including Amit Atmaram Shah, Krishan Kumar Kinra, Jerry Eapen Varghese and others.

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