
About Tarmat Limited
Data last updated:
Tarmat Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the road and bridge construction segment of the infrastructure and utilities sector. It was incorporated on 03 January 1986 and has been in existence for over 40 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L45203MH1986PLC038535. Its GSTIN is 27AAACT1561G1ZJ (Maharashtra). The company holds 13 GST registrations, of which 7 are active. Its shares are listed on BSE: 532869 and NSE: TARMAT.
The company has an authorised share capital of ₹32.5 Cr and a paid-up capital of ₹25.06 Cr. It was formerly known as Tarmat Infrastructural & Engineering Private Limited and Roman Tarmat Private Limited. It is led by directors including Dilip Jerry Varghese (Managing Director) and Amit Atmaram Shah (Whole-Time Director).
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at P B No 9042 Goregaon E, Mumbai, Maharashtra, India – 400063.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹117.37 Cr, a growth of 15.9% compared to the previous year. For the same year it recorded a net profit of ₹6.24 Cr (net margin 5.3%) and EBITDA of ₹6.88 Cr (EBITDA margin 5.9%). The net worth stands at ₹186.69 Cr (up 7.7% YoY). Total assets are valued at ₹202.25 Cr (up 10.3% YoY).
The company is associated with 1 brand: Tarmat. As per MCA filings, the company has open charges of ₹46.65 Cr and satisfied charges of ₹80.25 Cr on record. Court records list 251 cases involving the company, including 155 filed by the company and 75 filed against it; 34 cases are pending. The company has 83 deals on record (81 market trades, 1 ipo, 1 funding round), with disclosed funding of ₹51.89 Cr; the latest was in February 2026. Its 10 peer companies in the Infrastructure industry (Construction Services) are compared by revenue, 5 larger and 5 smaller; the largest is Dynasoure Concrete Treatment Private Limited with revenue of ₹102.63 Cr. The company has 7 MSME Form 1 returns on record between 2021 and 2024, listing 41 overdue payments to 14 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website tarmatlimited.com.
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered AddressP B No 9042 Goregaon E, Mumbai, Maharashtra, India – 400063
- IndustryInfrastructure and Utilities, Road & Bridge Construction
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
- One PDF report, delivered after checkout
Business Activity of Tarmat Limited
The main business activity of Tarmat is construction. In detail, this covers roads, railways, utility projects.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| F | Construction | F2 | Roads, railways, Utility projects | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Tarmat Limited FY 2025-26 filings available
Tarmat Limited reported revenue of ₹117.37 Cr (up 15.9% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 117 | 101 | 89.35 | 144 | 181 | 196 | 276 |
| Revenue growth | +15.9% | +13.4% | -37.8% | -20.6% | -7.6% | -29.1% | - |
| EBITDA | 6.88 | 3.25 | (0.14) | 2.15 | 7.04 | 7.13 | 11.12 |
| EBITDA margin | +5.9% | +3.2% | -0.2% | +1.5% | +3.9% | +3.6% | +4.0% |
| Profit before tax | 5.74 | 1.80 | (1.27) | 7.28 | 4.66 | 4.02 | 8.81 |
| Net profit | 6.24 | 1.39 | 1.47 | 4.89 | 4.58 | 5.15 | 6.84 |
| Net profit margin | +5.3% | +1.4% | +1.7% | +3.4% | +2.5% | +2.6% | +2.5% |
| EPS (₹) | 2.51 | 0.78 | (0.53) | 3.48 | 2.90 | 3.86 | 5.15 |
| Balance sheet | |||||||
| Total assets | 202 | 183 | 141 | 138 | 138 | 152 | 167 |
| Net worth | 187 | 173 | 130 | 131 | 93.58 | 61.29 | 56.15 |
| Total debt | 15.02 | 9.53 | 10.46 | 5.96 | 43.36 | 89.47 | 110 |
| Cash & bank | 20.52 | 9.83 | 5.71 | 5.04 | 4.46 | 14.70 | 27.85 |
| Net working capital | 158 | 147 | 109 | 104 | 108 | 94.52 | 98.83 |
| Cash flow | |||||||
| Cash from operations | 7.52 | (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 financing | 11.49 | 40.19 | 3.85 | (8.01) | (20.99) | (23.87) | 20.09 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 35.81 | 42.46 | 27.31 | 22.67 | 24.94 | 37.79 | 26.14 | 15.57 |
| Revenue growth (YoY) | +43.6% | +12.4% | +4.5% | +45.6% | +14.5% | - | - | - |
| Other income | 0.06 | 0.39 | 0.04 | 0.75 | 0.06 | 0.78 | 0.23 | 0.04 |
| EBITDA | 2.46 | 2.89 | 1.74 | 1.13 | 1.12 | 0.73 | 0.57 | 0.56 |
| EBITDA margin | +6.9% | +6.8% | +6.4% | +5.0% | +4.5% | +1.9% | +2.2% | +3.6% |
| Depreciation | 0.31 | 0.37 | 0.32 | 0.29 | 0.29 | 0.57 | 0.40 | 0.18 |
| Interest | 0.31 | 0.26 | 0.41 | 0.21 | 0.25 | 0.32 | 0.11 | 0.04 |
| Profit before tax | 1.90 | 2.65 | 1.05 | 1.38 | 0.64 | 0.62 | 0.29 | 0.38 |
| Tax | 0.37 | (0.30) | (0.07) | (0.08) | (0.06) | 0.05 | (0.05) | (0.03) |
| Net profit | 1.53 | 2.95 | 1.12 | 1.46 | 0.70 | 0.57 | 0.34 | 0.41 |
| EPS (₹) | 0.62 | 1.18 | 0.46 | 0.61 | 0.30 | 0.19 | 0.16 | 0.19 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 117 | 101 | 89.35 | 144 | 162 | 171 | 233 |
| Revenue growth | +15.9% | +13.4% | -37.8% | -11.3% | -5.1% | -26.8% | - |
| EBITDA | 7.18 | 3.25 | (0.14) | 2.15 | 6.97 | 7.19 | 10.97 |
| EBITDA margin | +6.1% | +3.2% | -0.2% | +1.5% | +4.3% | +4.2% | +4.7% |
| Profit before tax | 6.05 | 1.80 | (1.27) | 7.28 | 4.66 | 4.00 | 8.84 |
| Net profit | 6.55 | 1.39 | 1.47 | 4.89 | 4.00 | 5.04 | 6.93 |
| Net profit margin | +5.6% | +1.4% | +1.7% | +3.4% | +2.5% | +3.0% | +3.0% |
| EPS (₹) | 2.64 | 0.78 | (0.53) | 3.48 | 2.90 | 3.82 | 5.19 |
| Balance sheet | |||||||
| Total assets | 203 | 183 | 141 | 138 | 138 | 152 | 168 |
| Net worth | 187 | 173 | 130 | 131 | 93.58 | 61.29 | 56.20 |
| Total debt | 15.02 | 9.53 | 10.46 | 5.96 | 43.36 | 89.47 | 110 |
| Cash & bank | 20.39 | 9.83 | 3.62 | 5.04 | 4.46 | 14.65 | 27.77 |
| Net working capital | 150 | 140 | 99.26 | 96.43 | 101 | 90.60 | 101 |
| Cash flow | |||||||
| Cash from operations | 7.48 | (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 financing | 11.49 | 40.19 | 3.85 | (8.01) | (20.99) | (23.87) | 20.09 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 29.59 | 42.46 | 27.31 | 22.67 | 24.94 | 37.79 | 26.14 | 15.57 |
| Revenue growth (YoY) | +18.6% | +12.4% | +4.5% | +45.6% | +14.5% | - | - | - |
| Other income | 0.06 | 0.39 | 0.04 | 0.75 | 0.06 | 0.78 | 0.23 | 0.04 |
| Total expenses | 28.33 | 39.26 | 25.57 | 21.54 | 23.82 | 37.06 | 25.57 | 15.01 |
| EBITDA | 1.26 | 3.20 | 1.74 | 1.13 | 1.12 | 0.73 | 0.57 | 0.56 |
| EBITDA margin | +4.3% | +7.5% | +6.4% | +5.0% | +4.5% | +1.9% | +2.2% | +3.6% |
| Depreciation | 0.30 | 0.36 | 0.32 | 0.29 | 0.29 | 0.57 | 0.40 | 0.18 |
| Interest | 0.31 | 0.26 | 0.41 | 0.21 | 0.25 | 0.32 | 0.11 | 0.04 |
| Profit before tax | 0.71 | 2.97 | 1.05 | 1.38 | 0.64 | 0.62 | 0.29 | 0.38 |
| Tax | 0.15 | (0.30) | (0.07) | (0.08) | (0.06) | 0.05 | (0.05) | (0.03) |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 35.81 | 42.46 | 27.31 | 22.67 | 24.94 | 37.79 | 26.14 | 15.57 |
| Revenue growth (YoY) | +43.6% | +12.4% | +4.5% | +45.6% | +14.5% | - | - | - |
| Other income | 0.06 | 0.39 | 0.04 | 0.75 | 0.06 | 0.78 | 0.23 | 0.04 |
| EBITDA | 2.46 | 2.89 | 1.74 | 1.13 | 1.12 | 0.73 | 0.57 | 0.56 |
| EBITDA margin | +6.9% | +6.8% | +6.4% | +5.0% | +4.5% | +1.9% | +2.2% | +3.6% |
| Depreciation | 0.31 | 0.37 | 0.32 | 0.29 | 0.29 | 0.57 | 0.40 | 0.18 |
| Interest | 0.31 | 0.26 | 0.41 | 0.21 | 0.25 | 0.32 | 0.11 | 0.04 |
| Profit before tax | 1.90 | 2.65 | 1.05 | 1.38 | 0.64 | 0.62 | 0.29 | 0.38 |
| Tax | 0.37 | (0.30) | (0.07) | (0.08) | (0.06) | 0.05 | (0.05) | (0.03) |
| Net profit | 1.53 | 2.95 | 1.12 | 1.46 | 0.70 | 0.57 | 0.34 | 0.41 |
| EPS (₹) | 0.62 | 1.18 | 0.46 | 0.61 | 0.30 | 0.19 | 0.16 | 0.19 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 117 | 101 | 89.35 | 144 | 181 | 196 | 276 |
| Revenue growth | +15.9% | +13.4% | -37.8% | -20.6% | -7.6% | -29.1% | - |
| Other income | 1.24 | 1.05 | 0.44 | 6.68 | 1.06 | 1.33 | 0.88 |
| Total expenses | 110 | 98.03 | 89.49 | 142 | 174 | 189 | 265 |
| Employee cost | 0.00 | 9.24 | 7.14 | 9.37 | 8.56 | 5.91 | 5.44 |
| EBITDA | 6.88 | 3.25 | (0.14) | 2.15 | 7.04 | 7.13 | 11.12 |
| EBITDA margin | +5.9% | +3.2% | -0.2% | +1.5% | +3.9% | +3.6% | +4.0% |
| Depreciation | 1.26 | 1.33 | 0.84 | 1.04 | 1.06 | 1.38 | 0.82 |
| Interest | 1.12 | 1.17 | 0.73 | 0.51 | 2.38 | 3.06 | 2.37 |
| Profit before tax | 5.74 | 1.80 | (1.27) | 7.28 | 4.66 | 4.02 | 8.81 |
| Tax | (0.50) | (0.06) | (0.13) | (0.13) | 0.08 | (1.13) | 1.97 |
| Net profit | 6.24 | 1.39 | 1.47 | 4.89 | 4.58 | 5.15 | 6.84 |
| Net profit margin | +5.3% | +1.4% | +1.7% | +3.4% | +2.5% | +2.6% | +2.5% |
| EPS (₹) | 2.51 | 0.78 | (0.53) | 3.48 | 2.90 | 3.86 | 5.15 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 25.06 | 24.06 | 21.31 | 21.31 | 15.80 | 13.33 | 13.33 |
| Reserves & surplus | 162 | 134 | 108 | 109 | 67.85 | 47.96 | 42.82 |
| Shareholders' funds (net worth) | 187 | 173 | 130 | 131 | 93.58 | 61.29 | 56.15 |
| Minority interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Secured loans | 12.32 | 6.83 | 6.26 | 1.95 | 3.30 | 4.89 | 4.23 |
| Unsecured loans | 2.70 | 2.70 | 4.20 | 4.01 | 40.06 | 84.58 | 106 |
| Total debt | 15.02 | 9.53 | 10.46 | 5.96 | 43.36 | 89.47 | 110 |
| Total liabilities | 202 | 183 | 141 | 138 | 138 | 152 | 167 |
| Assets | |||||||
| Gross block | 86.48 | 78.68 | 73.42 | 73.38 | 72.60 | 72.34 | 69.75 |
| Net block | 27.38 | 20.84 | 16.30 | 17.11 | 17.36 | 18.16 | 16.95 |
| Capital work in progress | 0.02 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 1.05 | 1.05 | 1.05 | 1.05 | 1.05 | 19.23 | 19.23 |
| Inventories | 72.07 | 69.38 | 71.74 | 67.55 | 79.87 | 69.30 | 75.77 |
| Sundry debtors | 21.33 | 21.72 | 12.83 | 22.40 | 22.48 | 12.94 | 23.17 |
| Cash & bank balances | 20.52 | 9.83 | 5.71 | 5.04 | 4.46 | 14.70 | 27.85 |
| Loans & advances | 103 | 98.50 | 75.89 | 84.21 | 82.87 | 77.85 | 74.33 |
| Total current assets | 216 | 199 | 166 | 179 | 190 | 175 | 201 |
| Total current liabilities | 58.73 | 52.31 | 57.22 | 75.17 | 81.69 | 80.27 | 102 |
| Net working capital | 158 | 147 | 109 | 104 | 108 | 94.52 | 98.83 |
| Total assets | 202 | 183 | 141 | 138 | 138 | 152 | 167 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 9.83 | 5.71 | 5.04 | 4.44 | 14.63 | 3.87 | 2.29 |
| Net cash from operating activities | 7.52 | (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 activities | 11.49 | 40.19 | 3.85 | (8.01) | (20.99) | (23.87) | 20.09 |
| Net change in cash | 11.57 | 4.12 | 0.67 | 0.60 | (10.19) | 0.61 | 1.58 |
| Closing cash | 20.52 | 9.83 | 5.71 | 5.04 | 4.46 | 14.70 | 27.85 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 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 | - | 0.07 | 0.06 | 0.22 | 0.86 | 1.70 | 2.17 |
| Long-term debt / equity | - | 0.06 | 0.00 | 0.01 | 0.03 | 0.97 | 2.17 |
| Interest cover | 19.93 | 60.94 | -74.49 | 45.95 | 39.80 | 53.22 | 23.01 |
| Efficiency & per share | |||||||
| Fixed asset turnover | - | 1.33 | 1.22 | 1.97 | 2.50 | 2.76 | 4.15 |
| Inventory turnover | - | 1.44 | 1.28 | 1.95 | 2.43 | 2.70 | 4.16 |
| Debtors turnover | - | 5.86 | 5.07 | 6.40 | 10.22 | 10.85 | 12.99 |
| EPS (₹) | 2.51 | 0.78 | (0.53) | 3.48 | 2.90 | 3.86 | 5.15 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 0.00 | 65.45 | 60.78 | 61.29 | 52.89 | 45.91 | 42.05 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 29.59 | 42.46 | 27.31 | 22.67 | 24.94 | 37.79 | 26.14 | 15.57 |
| Revenue growth (YoY) | +18.6% | +12.4% | +4.5% | +45.6% | +14.5% | - | - | - |
| Other income | 0.06 | 0.39 | 0.04 | 0.75 | 0.06 | 0.78 | 0.23 | 0.04 |
| Total expenses | 28.33 | 39.26 | 25.57 | 21.54 | 23.82 | 37.06 | 25.57 | 15.01 |
| EBITDA | 1.26 | 3.20 | 1.74 | 1.13 | 1.12 | 0.73 | 0.57 | 0.56 |
| EBITDA margin | +4.3% | +7.5% | +6.4% | +5.0% | +4.5% | +1.9% | +2.2% | +3.6% |
| Depreciation | 0.30 | 0.36 | 0.32 | 0.29 | 0.29 | 0.57 | 0.40 | 0.18 |
| Interest | 0.31 | 0.26 | 0.41 | 0.21 | 0.25 | 0.32 | 0.11 | 0.04 |
| Profit before tax | 0.71 | 2.97 | 1.05 | 1.38 | 0.64 | 0.62 | 0.29 | 0.38 |
| Tax | 0.15 | (0.30) | (0.07) | (0.08) | (0.06) | 0.05 | (0.05) | (0.03) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 117 | 101 | 89.35 | 144 | 162 | 171 | 233 |
| Revenue growth | +15.9% | +13.4% | -37.8% | -11.3% | -5.1% | -26.8% | - |
| Other income | 1.24 | 1.05 | 0.44 | 6.68 | 1.13 | 1.26 | 0.96 |
| Total expenses | 110 | 98.03 | 89.49 | 142 | 155 | 163 | 222 |
| Employee cost | 0.00 | 9.24 | 7.14 | 9.37 | 8.56 | 5.84 | 5.44 |
| EBITDA | 7.18 | 3.25 | (0.14) | 2.15 | 6.97 | 7.19 | 10.97 |
| EBITDA margin | +6.1% | +3.2% | -0.2% | +1.5% | +4.3% | +4.2% | +4.7% |
| Depreciation | 1.25 | 1.33 | 0.84 | 1.04 | 1.06 | 1.32 | 0.73 |
| Interest | 1.12 | 1.17 | 0.73 | 0.51 | 2.38 | 3.13 | 2.36 |
| Profit before tax | 6.05 | 1.80 | (1.27) | 7.28 | 4.66 | 4.00 | 8.84 |
| Tax | (0.50) | (0.06) | (0.13) | (0.13) | 0.08 | (1.08) | 1.91 |
| Net profit | 6.55 | 1.39 | 1.47 | 4.89 | 4.00 | 5.04 | 6.93 |
| Net profit margin | +5.6% | +1.4% | +1.7% | +3.4% | +2.5% | +3.0% | +3.0% |
| EPS (₹) | 2.64 | 0.78 | (0.53) | 3.48 | 2.90 | 3.82 | 5.19 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 25.06 | 24.06 | 21.31 | 21.31 | 15.80 | 13.33 | 13.33 |
| Reserves & surplus | 162 | 134 | 108 | 109 | 67.85 | 47.96 | 42.87 |
| Shareholders' funds (net worth) | 187 | 173 | 130 | 131 | 93.58 | 61.29 | 56.20 |
| Secured loans | 12.32 | 6.83 | 6.26 | 1.95 | 3.30 | 4.89 | 4.23 |
| Unsecured loans | 2.70 | 2.70 | 4.20 | 4.01 | 40.06 | 84.58 | 106 |
| Total debt | 15.02 | 9.53 | 10.46 | 5.96 | 43.36 | 89.47 | 110 |
| Total liabilities | 203 | 183 | 141 | 138 | 138 | 152 | 168 |
| Assets | |||||||
| Gross block | 84.76 | 77.04 | 71.79 | 71.74 | 70.96 | 70.70 | 68.12 |
| Net block | 26.39 | 19.92 | 15.39 | 16.18 | 16.44 | 17.24 | 15.97 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 9.73 | 9.56 | 9.56 | 9.56 | 9.43 | 27.02 | 26.95 |
| Inventories | 43.10 | 42.84 | 45.19 | 41.00 | 53.32 | 42.76 | 49.23 |
| Sundry debtors | 21.33 | 21.72 | 12.83 | 22.40 | 15.79 | 12.94 | 17.41 |
| Cash & bank balances | 20.39 | 9.83 | 3.62 | 5.04 | 4.46 | 14.65 | 27.77 |
| Loans & advances | 103 | 98.50 | 75.89 | 84.21 | 81.31 | 76.51 | 67.90 |
| Total current assets | 188 | 173 | 138 | 153 | 155 | 147 | 162 |
| Total current liabilities | 37.83 | 33.36 | 38.27 | 56.22 | 54.35 | 56.26 | 61.45 |
| Net working capital | 150 | 140 | 99.26 | 96.43 | 101 | 90.60 | 101 |
| Total assets | 203 | 183 | 141 | 138 | 138 | 152 | 168 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 9.83 | 5.71 | 5.04 | 4.44 | 14.63 | 3.83 | 2.28 |
| Net cash from operating activities | 7.48 | (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 activities | 11.49 | 40.19 | 3.85 | (8.01) | (20.99) | (23.87) | 20.09 |
| Net change in cash | 11.46 | 4.12 | 0.67 | 0.60 | (10.19) | 0.60 | 1.55 |
| Closing cash | 20.39 | 9.83 | 3.62 | 5.04 | 4.46 | 14.65 | 27.77 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 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 | - | 0.07 | 0.06 | 0.22 | 0.86 | 1.70 | 2.17 |
| Long-term debt / equity | - | 0.06 | 0.04 | 0.01 | 0.03 | 0.97 | 2.17 |
| Interest cover | 18.89 | 60.94 | -74.49 | 45.95 | 40.27 | 53.32 | 23.05 |
| Efficiency & per share | |||||||
| Fixed asset turnover | - | 1.36 | 1.25 | 2.02 | 2.29 | 2.46 | 3.57 |
| Inventory turnover | - | 2.30 | 2.07 | 3.05 | 3.37 | 3.71 | 5.83 |
| Debtors turnover | - | 5.86 | 5.07 | 7.52 | 11.27 | 11.25 | 12.67 |
| EPS (₹) | 2.64 | 0.78 | (0.53) | 3.48 | 2.90 | 3.82 | 5.19 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 0.00 | 65.45 | 60.78 | 61.29 | 52.89 | 45.91 | 42.09 |
Peer Comparison of Tarmat Limited
Tarmat Limited is compared with the companies closest to it by revenue in the Infrastructure industry (Construction Services). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Tarmat Limited this company | ₹117.37 Cr (FY 2026) | •••• | •••• | 15.9% | •••• | Mumbai, Maharashtra, India |
| Dynasoure Concrete Treatment Private Limited | ₹102.63 Cr (FY 2025) | •••• | •••• | 58.0% | •••• | Mumbai, Maharashtra, India |
| Balabharti Infrastructure Private Limited | ₹102.6 Cr (FY 2025) | •••• | •••• | 78.0% | •••• | Jaipur, Rajasthan, India |
| Mor Mukat Marketing Private Limited | ₹102.57 Cr (FY 2025) | •••• | •••• | 66.0% | •••• | Patna, Bihar, India |
| JRD Interiors India Private Limited | ₹102.45 Cr (FY 2024) | •••• | •••• | 67.0% | •••• | Hyderabad, Telangana, India |
| Birampur Construction Private Limited | ₹102.38 Cr (FY 2025) | •••• | •••• | 16.0% | •••• | Patna, Bihar, India |
| Singade Constructions & Infrastructure Private Limited | ₹102.3 Cr (FY 2025) | •••• | •••• | -11.0% | •••• | Gulbarga, Karnataka, India |
| Vedansh Infra Services Private Limited | ₹102.15 Cr (FY 2025) | •••• | •••• | 55.0% | •••• | Chittorgarh, Rajasthan, India |
| A3m Contracts India Private Limited | ₹102.08 Cr (FY 2025) | •••• | •••• | 34.0% | •••• | New Delhi, Delhi, India |
| Sudesh Kumar Singh and Co Construction Private Limited | ₹101.93 Cr (FY 2025) | •••• | •••• | 49.0% | •••• | Bihar, India |
| Ray Infraprojects Private Limited | ₹101.88 Cr (FY 2024) | •••• | •••• | 32.0% | •••• | Bhubaneswar, Odisha, India |
Peers are the five companies nearest above and the five nearest below Tarmat by revenue in the Infrastructure industry (Construction Services), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of Tarmat Limited
Tarmat Limited is audited by HEGDE & ASSOCIATES for the financial year 2024.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| HEGDE & ASSOCIATES | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors of Tarmat Limited
Tarmat has 6 current directors and 13 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Amit Atmaram Shah | Whole-Time Director | 30 May 2019 | 7 Years 4 Months | Current |
| Krishan Kumar Kinra | Director | 17 Oct 2019 | 6 Years 11 Months | Current |
| Jerry Eapen Varghese | Director | 04 Aug 2023 | 3 Years 2 Months | Current |
| Kishanrao Marutirao Godbole | Director | 05 Sep 2024 | 2 Years 1 Months | Current |
| Dilip Jerry Varghese | Managing Director | 04 Aug 2023 | 3 Years 2 Months | Current |
| Priyanka Bhushan Sahani | Director | 07 May 2025 | 1 Years 5 Months | Current |
Shareholding Pattern of Tarmat Limited
Shareholding for the quarter ended Sep 2026: promoters hold 29.00%, foreign institutional investors hold 1.80%, domestic institutional investors hold 0.00% and retail and other public shareholders hold 69.20%.
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 29.00% | 29.00% | 30.10% | 29.80% |
| Public | 71.00% | 71.00% | 69.90% | 70.20% |
Charges & Borrowings of Tarmat Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 20 Jun 2026 | Others | ₹45.45 Lakh | Open |
| 27 May 2026 | Others | ₹32.46 Lakh | Open |
| 28 Feb 2026 | Others | ₹1.25 Cr | Open |
| 29 Jan 2026 | Others | ₹1.05 Cr | Open |
| 13 Oct 2025 | Others | ₹45 Lakh | Open |
Total charge records: 54 View all charges
Deals & Funding of Tarmat Limited
Tarmat Limited has 83 deals on record (81 market trades, 1 ipo, 1 funding round), with disclosed funding of ₹51.89 Cr; the latest was in February 2026.
Deals on record (5 of 83)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Oct 2025 | Market trade | ₹4.05 Cr | Buyer: Arton Global Seller: Veekay Apartments Pvt Ltd |
| May 2024 | Market trade | ₹3.07 Cr | Buyer: Setu Securities Private Limited Seller: Jainam Broking Limited , an individual |
| Apr 2024 | Market trade | ₹1.59 Cr | Buyer: Minerva Ventures Fund Seller: Riserose Business Private Limited |
| Apr 2024 | Market trade | ₹1.21 Cr | Seller: L7 Hitech Private Limited |
| Apr 2024 | Market trade | ₹2.37 Cr | Buyer: Aegis Investment Fund Seller: Motisons Shares Limited |
Full deal history
All 83 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of Tarmat Limited
Tarmat Limited has 251 court cases on record: 155 filed by Tarmat, 75 filed against it, 21 where it is another party. 34 cases are pending and 217 are disposed. Status as checked between 21 Sep 2026 and 04 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 158 | 29 | 20 |
| District courts | 93 | 46 | 14 |
Cases on record (5 of 251)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Interim or miscellaneous application | Filed against the company by Hindustan Colas Private Limited | Pending |
| Bombay High Court | Court case (COMEX) | Filed against the company by Hindustan Colas Private Limited | Pending |
| District court, Chandigarh | Arbitration matter | Filed by the company against Hindustan Colas Private Limited | Pending |
| District court, Mumbai Small Causes Court, Maharashtra | Court case (RAD) | Filed against the company by Prithvi Bricks and Mortar Private Limited | Pending |
| Calcutta High Court | Court case (EC) | Filed against the company by Srei Equipment Finance Limited | Pending |
Full case history
All 251 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME Payment Delays by Tarmat Limited
Tarmat Limited has 7 MSME Form 1 returns on record between 2021 and 2024, listing 41 overdue payments to 14 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 14)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Suryakiran Lite Industries Private Limited | •••• | •••• | •••• |
| Greenity Logistics Private Limited | •••• | •••• | •••• |
| A A Dubey & Associates | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 7 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Employees and EPFO Compliance at Tarmat Limited
Tarmat Limited has a workforce of 0 employees as of Mar 31, 2025.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Name History of Tarmat Limited
Tarmat has undergone 4 name changes throughout its history. The current legal name is Tarmat Limited.
| Company Name | Status |
|---|---|
| Tarmat Limited | Current |
| Tarmat Infrastructural & Engineering Private Limited | Previous |
| Roman Tarmat Private Limited | Previous |
| Roman Tarmat Limited | Previous |
| Jerry Varghese Constructions Private Limited | Previous |
CIN History of Tarmat Limited
Tarmat has one previous CIN (Corporate Identification Number): U45203MH1986PLC038535. The current CIN is L45203MH1986PLC038535, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L45203MH1986PLC038535 | Current |
| U45203MH1986PLC038535 | Previous |
News related to Tarmat Limited
Recent Activity on Tarmat Limited
Tarmat Limited has 29 board changes on record since 1986: 18 appointments and 11 cessations. The latest: Priyanka Bhushan Sahani was appointed as Director on 07 May 2025.
118 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Tarmat Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Tarmat Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Tarmat Limited
Tarmat has 13 GST registrations: 7 active and 6 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACT1561G1ZJ | Maharashtra | Active | 01 Jul 2017 |
| 32AAACT1561G2ZR | Kerala | Active | 01 Jul 2017 |
| 01AAACT1561G1ZX | Jammu and Kashmir | Active | 08 Jul 2017 |
| 15AAACT1561G1ZO | Mizoram | Active | 25 Oct 2018 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Tarmat Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Tarmat Limited
Tarmat is an active public limited company based in Mumbai, Maharashtra, India. The company works in road and bridge construction, within the infrastructure and utilities industry. It was incorporated on 03 January 1986 (40+ years old) and is registered under CIN L45203MH1986PLC038535. Listed on BSE: 532869 and NSE: TARMAT.
Tarmat reported revenue of ₹117.37 Cr for FY 2025-26 (up 15.9% YoY) based on consolidated financials.
Tarmat has 6 current directors:
- Dilip Jerry Varghese - Managing Director
- Amit Atmaram Shah - Whole-Time Director
- Krishan Kumar Kinra - Director
- Jerry Eapen Varghese - Director
- Kishanrao Marutirao Godbole - Director
- Priyanka Bhushan Sahani - Director
The GSTIN of Tarmat is 27AAACT1561G1ZJ, registered in Maharashtra. The company has 13 GST registrations in all, of which 7 are active and 6 are cancelled or inactive. Other active GSTINs include 32AAACT1561G2ZR (Kerala), 01AAACT1561G1ZX (Jammu and Kashmir), 15AAACT1561G1ZO (Mizoram).
The CIN (Corporate Identification Number) of Tarmat is L45203MH1986PLC038535. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Tarmat is listed on both BSE (code: 532869) and NSE (symbol: TARMAT).
Tarmat has 251 court cases on record: 155 filed by the company and 75 filed against it. 34 are pending. Most are in the high courts.
Tarmat was incorporated on 03 January 1986, making it 40+ years old. It is registered with the Registrar of Companies, Mumbai.
Tarmat has 83 deals on record (81 market trades, 1 ipo, 1 funding round), with disclosed funding of ₹51.89 Cr; the latest was in February 2026.
The peers of Tarmat by revenue are Dynasoure Concrete Treatment Private Limited, Balabharti Infrastructure Private Limited, Mor Mukat Marketing Private Limited, JRD Interiors India Private Limited, Birampur Construction Private Limited and 5 more, all in the Infrastructure industry (Construction Services).
Priyanka Bhushan Sahani was appointed as Director on 07 May 2025. Regina Manish Sinha ceased to be Director on 10 Feb 2025. Ramesh Chander Gupta ceased to be Director on 30 Sep 2024. Tarmat has 29 board changes on record in total.
Tarmat has 7 MSME Form 1 returns on record between 2021 and 2024, listing 41 overdue payments to 14 micro and small suppliers. The latest return was filed on 14 May 2024.