Tarc Limited
NSE: TARC · Residential, Commercial Projects · sector
₹114.86NSE close 2026-10-26
Key numbers
Market cap₹3,389 cr
Price₹114.86
52w high / low₹186 / ₹109
P/E–Sector median 18.7x
P/B3.2xSector median 1.4x
Book value₹36.0
Dividend yield–Sector median 0.54%
ROE-1.2%Sector median 5.5%
ROCE0.3%Sector median 6.5%
OPM-22.1%Sector median 12.1%
Debt / equity1.78xSector median 0.36x
EV/EBITDA–Sector median 17.7x
Interest cover0.2x
Current ratio1.37x
Sales growth 3y-3.6%Sector median +16.6%
Profit growth 3y-2.2%Sector median +28.0%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 141 companies in Residential, Commercial Projects (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹81 cr vs borrowings ₹1,889 cr (FY26): borrowings are higher by ₹1,808 cr.
- Operating profit covered interest 0.2x in the last 12 months.
- Operating cash flow was below net profit in 1 of the last 5 years (FY23).
- Net loss in 5 of the last 8 quarters.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Debtor days went from 20 (FY24) to 8 (FY26).
- No dividend in the last 5 financial years.
- Price ₹114.86 on 2026-10-26: -38.3% from the 52-week high, +5.3% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹261.35 · low ₹105.08
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4 | 9 | 12 | 76 | 7 | 38 | 209 | 217 |
| EBITDA | -24 | -11 | -84 | -120 | -36 | -18 | -90 | 40 |
| OPM % | -566.1% | -119.6% | -707.6% | -158.5% | -518.8% | -47.4% | -43.2% | 18.5% |
| Other income | 1 | 2 | 2 | 219 | 27 | 4 | 91 | 2 |
| Net profit | -67 | -29 | -103 | 54 | -16 | -21 | 2 | 23 |
| EPS (₹) | -2.28 | -0.97 | -3.54 | 1.84 | -0.53 | -0.71 | 0.05 | 0.77 |
| Revenue YoY | +59.4% | +310.5% | +1,665.7% | +186.1% | ||||
| Profit YoY | – | – | – | -58.2% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 251 | 368 | 111 | 34 | 330 | 471 |
| EBITDA | -184 | 159 | 47 | -133 | -264 | -104 |
| Net profit | -233 | 20 | -77 | -230 | 19 | -13 |
| EPS (₹) | -7.89 | 0.69 | -2.61 | -7.84 | 0.64 | -0.42 |
| Revenue growth | +46.9% | -69.7% | -69.8% | +879.0% | +364.7% | |
| Profit growth | – | -478.4% | – | – | – | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -3.6% | +11.6% | +364.7% |
| Net profit | -2.2% | +25.3% | – |
| EPS | -2.5% | +25.0% | – |
| Share price | – | -30.9% (2y) | -19.9% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 1,352 | 1,275 | 1,043 | 1,062 |
| Borrowings | – | 1,381 | 1,388 | 1,950 | 1,889 |
| Cash & equivalents | – | 115 | 67 | 86 | 81 |
| Total assets | – | 3,157 | 3,466 | 4,216 | 4,600 |
| Fixed assets | – | 402 | 378 | 403 | 409 |
| Capital work in progress | – | 103 | – | 0 | 0 |
| Investments | – | 68 | 68 | 68 | 0 |
| Receivables | – | 10 | 6 | 10 | 7 |
| Inventory | – | 1,106 | 1,385 | 1,951 | 2,396 |
| Payables | – | 24 | 25 | 61 | 77 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | -81 | -81 | 158 | 43 | 191 |
| Cash from investing | 367 | 75 | -39 | -68 | 275 |
| Cash from financing | -279 | 96 | -166 | 14 | -436 |
| Capex | 0 | 7 | 41 | 37 | 31 |
| Free cash flow | -81 | -88 | 117 | 6 | 159 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 1.5% | -6.0% | -22.0% | 1.8% |
| ROCE % | – | 5.8% | 1.9% | -4.6% | 2.3% |
| Debtor days | – | 9 | 20 | 107 | 8 |
| Inventory days | – | 7,823 | 4,535 | 16,428 | 3,326 |
| Payable days | – | 170 | 81 | 517 | 107 |
| Cash conversion cycle (days) | – | 7,662 | 4,474 | 16,018 | 3,227 |
| Working capital days | – | 1,010 | 1,275 | 2,049 | 793 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 65.12% |
| FIIs | 1.10% |
| DIIs | 5.93% |
| of which Mutual funds | 5.91% |
| Public (non-institutions) | 27.86% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 64.96% | 65.12% | 65.12% | 65.12% | 65.12% | 65.12% | 65.12% | 65.12% |
| Promoter group | % |
|---|---|
| Anil Sarin | 33.48% |
| Amar Sarin | 31.43% |
| Muskaan Sarin | 0.21% |
| Sharda Sarin | 0.00% |
| Saloni Munjal | 0.00% |
| Sunaini Gupta | 0.00% |
| Anil Sarin (HUF) | 0.00% |
| RAJ Kumari (HUF) | 0.00% |
| Public holders above 1% | % |
|---|---|
| Bandhan Small CAP Fund | 5.76% |
| Vijaykumar Chhotabhai Kalidas Patel | 1.38% |
53,592 shareholders. Pledged: – of promoter shares.
Peers in Residential, Commercial Projects
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| DLF | ₹1,63,939 cr | 35.9x | 3.6x | 10.3% | 6.3% | 14.8% | +12.9% | 0.90% |
| LODHA | ₹97,912 cr | 23.7x | 4.2x | 19.0% | 17.9% | 32.2% | +20.8% | 0.43% |
| PHOENIXLTD | ₹67,737 cr | 52.9x | 6.2x | 11.9% | 15.4% | 59.1% | +18.8% | 0.13% |
| PRESTIGE | ₹60,152 cr | 52.8x | 3.7x | 7.2% | 10.5% | 28.1% | +15.1% | 0.12% |
| OBEROIRLTY | ₹57,522 cr | 21.9x | 3.0x | 14.7% | 16.9% | 57.1% | +12.8% | 0.51% |
| GODREJPROP | ₹45,942 cr | 28.7x | 2.4x | 8.8% | 6.9% | -7.7% | +31.6% | – |
| BRIGADE | ₹17,781 cr | 25.6x | 2.6x | 11.2% | 10.9% | 27.0% | +18.3% | 0.35% |
| ANANTRAJ | ₹16,514 cr | 27.8x | 2.9x | 11.6% | 11.1% | 27.0% | +37.9% | 0.15% |
| SOBHA | ₹12,247 cr | 64.1x | 2.6x | 4.1% | 6.5% | 6.5% | +16.2% | 0.26% |
| TARC | ₹3,389 cr | – | 3.2x | -1.2% | 0.3% | -22.1% | -3.6% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2022-09-22 | Other | Annual General Meeting |
| 2021-12-14 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY26
- Annual report FY25
- Annual report FY25
- Annual report FY24
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Real estate activities with own or leased property: Development of residential projects
| Sector | Consumer Discretionary |
| Industry | Residential, Commercial Projects |
| Sub-industry | Residential, Commercial Projects |
| Symbol | TARC |
| BSE code | 543249 |
| ISIN | INE0EK901012 |
| Face value | ₹2.0 |
| Incorporated | 2016-09-01 |
| Website | www.tarc.in |
| Plants (India / abroad) | 0 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.