TARC
- P/E
- Not meaningful: loss-making over the last twelve months
Key Fundamentals
MicrocapRealtyConsumer DiscretionaryPrice-based figures as of · EPS basis: Consolidated · TTM
- ROCE
- 5.78%
- Debt to Equity
- 1.78
- EPS (TTM)
- −₹0.42
- Book Value
- ₹35.99
- Market Cap
- —
- P/E (TTM)
- Not meaningful: loss-making over the last twelve months
- P/B
- 3.14
- ROE
- 8.61%
- Dividend Yield
- 0.00%
- EBITDA
- ₹77.50 Cr
- 52W High
- ₹186.30
- 52W Low
- ₹106.21
- Day Range
- ₹110.50 – ₹113.96
- Volume
- 3,57,948
Peer Comparison
Consumer Discretionary › Realty › Residential Commercial Projects › Residential, Commercial Projects
| ₹720.00 | 39.02 | ₹1,76,861 Cr | 3.91 | 1.13% | 9.50% | 6.32% | ₹6,375 Cr | ₹4,567 Cr | |
| ₹1,122.00 | 27.17 | ₹1,09,477 Cr | 4.51 | 0.40% | 15.50% | 16.40% | ₹18,181 Cr | ₹4,129 Cr | |
| ₹2,079.50 | 58.10 | ₹73,757 Cr | 8.17 | 0.12% | 11.00% | 12.40% | ₹4,545 Cr | ₹1,629 Cr | |
| ₹1,580.00 | 59.74 | ₹67,457 Cr | 4.18 | 0.13% | 7.53% | 10.40% | ₹13,053 Cr | ₹1,265 Cr | |
| ₹1,710.90 | 23.64 | ₹61,958 Cr | 3.26 | 0.24% | 14.60% | 17.30% | ₹6,214 Cr | ₹2,632 Cr | |
| ₹1,739.00 | 32.73 | ₹51,392 Cr | 2.71 | 0.60% | 8.82% | 7.63% | ₹5,203 Cr | ₹1,591 Cr | |
| ₹541.10 | 25.40 | ₹17,553 Cr | 2.47 | 0.38% | 10.50% | 10.50% | ₹5,532 Cr | ₹784 Cr | |
| TARC (this company) | ₹112.96 | — | ₹3,287 Cr | 3.14 | 0.00% | 8.61% | 5.78% | ₹471 Cr | −₹12 Cr |
| Median 8 companies | ₹1,351.00 | 32.73 | ₹64,707 Cr | 3.59 | 0.31% | 10.00% | 10.45% | ₹5,873 Cr | ₹1,610 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
Data confidence 93/100
Category scores
- Quality
- 42
- Weak
- Returns, margins, earnings quality 22% weight
- Valuation
- 36
- Poor
- Cheap vs sector & own history 24% weight
- Growth
- 99
- Strong
- Sales & profit trajectory 9% weight
- Financial Health
- 16
- Poor
- Solvency, leverage, coverage 9% weight
- Momentum
- 22
- Poor
- Trend strength, vol-adjusted 12% weight
- Ownership
- 42
- Weak
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
No strengths listed
Weaknesses
6- Stock is trading at 3.24 times its book value
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 11.6% over past five years.
- Company has a low return on equity of -6.02% over last 3 years.
- Company might be capitalizing the interest cost
- Earnings include an other income of Rs.124 Cr.
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Strong Bearish | 10 | 6 | 3 |
| Oscillators | Bearish | 2 | 6 | 1 |
| Moving Averages | Strong Bearish | 8 | 0 | 2 |
Oscillators
Bearish
Overall
Strong Bearish
Moving Averages
Strong Bearish
Key readings
- RSI (14)
- 41.80
- Neutral
- MACD (12,26,9)
- −3.78
- Bearish
- SMA (50)
- 122.36
- Bearish
- SMA (200)
- 131.63
- Bearish
As of
Analyst Rating
1 of 1 analyst rates Buy, 0 Hold, 0 Sell.
As of
Growth Rate
From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 5Y | +11.56% |
|---|---|
| 3Y | −3.65% |
| 1Y | +870.59% |
| TTM | +366.34% |
Net profit
| 5Y | +25.93% |
|---|---|
| 3Y | −1.70% |
| 1Y | Turned to profit |
| TTM | Loss narrowed by ₹135 Cr |
Operating cash flow
| 5Y | +5.81% |
|---|---|
| 3Y | Turned positive |
| 1Y | +354.76% |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 5Y | −48.18 pp |
|---|---|
| 3Y | −92.62 pp |
| 1Y | +343.00 pp |
| TTM | +214.55 pp |
Revenue by year
| Mar 2020 | ₹137 Cr |
|---|---|
| Mar 2021 | ₹191 Cr |
| Mar 2022 | ₹251 Cr |
| Mar 2023 | ₹369 Cr |
| Mar 2024 | ₹111 Cr |
| Mar 2025 | ₹34.00 Cr |
| Mar 2026 | ₹330 Cr |
Net profit by year
| Mar 2020 | ₹53.00 Cr |
|---|---|
| Mar 2021 | ₹6.00 Cr |
| Mar 2022 | −₹233 Cr |
| Mar 2023 | ₹20.00 Cr |
| Mar 2024 | −₹77.00 Cr |
| Mar 2025 | −₹231 Cr |
| Mar 2026 | ₹19.00 Cr |
Analyst Forecasts
AI Analysis — Bull vs Bear
TARC Ltd trades at a market cap of Rs.3,757 Cr with an elevated PE of 198.4x and a 3-year ROE of -8%. The company posted explosive TTM sales growth of 879% signaling a sharp revenue inflection, but historical 5-year sales CAGR remains modest at 12% and profitability has been inconsistent.
- TTM revenue growth of 879% indicates a massive inflection in project deliveries and sales bookings
- TTM profit growth of 108% shows the company is converting revenue surge into bottom-line gains
- Last year ROE turned positive at 2% after three consecutive years of negative returns, signaling an earnings turnaround
- 5-year compounded profit growth of 25% demonstrates long-term earnings trajectory despite interim volatility
- Stock CAGR of 27% over 5 years and 25% over 3 years reflects sustained investor confidence in the business model
- 5-year compounded sales growth of 12% provides a baseline of business expansion independent of the TTM spike
- Market cap of Rs.3,757 Cr positions TARC as a mid-cap real estate developer with room for re-rating if execution continues
- PE ratio of 198.4x is extremely elevated, implying the stock prices in substantial future growth that may not materialize
- 3-year ROE of -8% and 5-year ROE of -8% indicate prolonged destruction of shareholder value
- Low interest coverage ratio suggests debt servicing consumes a large portion of operating profits, raising solvency risk
- Earnings include other income of Rs.342 Cr, meaning core operating profit quality is questionable
- Company may be capitalizing interest costs, which flatters reported profits and understates true borrowing burden
- Stock has declined 32% over the past 1 year, reflecting significant near-term investor concern
- Price-to-book of 3.53x is high for a company with historically negative returns on equity
- 3-year compounded sales growth of -4% indicates the revenue surge is very recent and not yet a proven trend
This is AI-generated analysis, not financial advice. Do your own due diligence.
Quarterly Results
₹ Cr| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 63 | 30 | 9 | 9 | 8 | 4 | 9 | 12 | 76 | 7 | 38 | 209 | 217 |
| Expenses | 22 | 39 | 4 | 14 | 23 | 29 | 21 | 95 | 196 | 43 | 57 | 299 | 177 |
| Operating Profit | 41 | −9 | 6 | −4 | −15 | −24 | −11 | −84 | −120 | −36 | −18 | −90 | 40 |
| OPM % | 65% | −32% | 60% | −43% | −178% | −566% | −120% | −708% | −159% | −519% | −47% | −43% | 19% |
| Other Income | 2 | 5 | 2 | 1 | 1 | 1 | 2 | 2 | 219 | 27 | 4 | 91 | 2 |
| Interest | 34 | 12 | 35 | 42 | 13 | 49 | 19 | 25 | 15 | 11 | 11 | 15 | 18 |
| Depreciation | 1 | 2 | 2 | 2 | 2 | 3 | 2 | 2 | 2 | 2 | 2 | 3 | 2 |
| PBT | 7 | −18 | −28 | −47 | −28 | −76 | −31 | −109 | 81 | −22 | −28 | −17 | 22 |
| Tax % | 5% | −106% | 18% | 10% | 11% | −11% | −8% | −4% | 33% | −28% | −24% | −109% | −3% |
| Net Profit | 7 | 1 | −33 | −52 | −31 | −67 | −29 | −105 | 54 | −16 | −21 | 2 | 23 |
| EPS (₹) | 0.24 | 0.04 | −1.13 | −1.75 | −1.04 | −2.28 | −0.97 | −3.54 | 1.84 | −0.53 | −0.71 | 0.05 | 0.77 |
Profit & Loss
₹ Cr| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|
| Sales | 137 | 191 | 251 | 369 | 111 | 34 | 330 | 471 |
| Expenses | 112 | 191 | 435 | 205 | 133 | 167 | 488 | 575 |
| Operating Profit | 25 | 0 | −184 | 164 | −22 | −133 | −159 | −104 |
| OPM % | 19% | −0.1% | −74% | 44% | −20% | −395% | −48% | −22% |
| Other Income | 72 | 30 | 50 | 2 | 4 | 5 | 238 | 124 |
| Interest | 25 | 21 | 86 | 117 | 62 | 106 | 52.61 | 55 |
| Depreciation | 8 | 8 | 9 | 7 | 6 | 9 | 10 | 10 |
| PBT | 65 | 1 | −229 | 41 | −86 | −243 | 15 | −45 |
| Tax % | 18% | −563% | 1% | 50% | −10% | −5% | −29% | — |
| Net Profit | 53 | 6 | −233 | 20 | −77 | −231 | 19 | −13 |
| EPS (₹) | — | 0.21 | −7.89 | 0.69 | −2.61 | −7.84 | 0.65 | −0.42 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
₹ Cr| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Equity Capital | 59 | 59 | 59 | 59 | 59 | 59 | 59 |
| Reserves | 1,499 | 1,505 | 1,273 | 1,293 | 1,216 | 984 | 1,003 |
| Borrowings | 1,298 | 1,321 | 1,179 | 1,386 | 1,393 | 1,956 | 1,895 |
| Other Liabilities | 471 | 521 | 468 | 428 | 796 | 1,215 | 1,640 |
| Total Liabilities | 3,327 | 3,407 | 2,979 | 3,166 | 3,463 | 4,214 | 4,597 |
| Fixed Assets | 1,564 | 1,662 | 1,053 | 1,066 | 1,107 | 1,215 | 1,320 |
| CWIP | 73 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 138 | 138 | 68 | 68 | 68 | 68 | 0 |
| Other Assets | 1,552 | 1,607 | 1,858 | 2,032 | 2,289 | 2,931 | 3,277 |
| Total Assets | 3,327 | 3,407 | 2,979 | 3,166 | 3,463 | 4,214 | 4,597 |
Cash Flow
₹ Cr| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Operating | 116 | 144 | −81 | −81 | 158 | 42 | 191 |
| Investing | 17 | 23 | 367 | 75 | −39 | −68 | 275 |
| Financing | −143 | −161 | −279 | 96 | −166 | 15 | −436 |
| Net Cash Flow | −9 | 6 | 7 | 89 | −47 | −11 | 29 |
| Free Cash Flow | 66 | 161 | 280 | −12 | 117 | 5 | 159 |
| CFO/EBITDA | 457 | −63,382 | 38 | −41 | −752 | −45 | −135 |
Ratios
| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Debtor Days | 8 | 32 | 7 | 9 | 20 | 107 | 8 |
| Cash Conversion Cycle | 8 | 32 | 7 | 9 | 20 | 107 | 8 |
| Working Capital Days | 368 | 263 | −516 | 760 | 1,218 | 1,143 | 703 |
| ROCE % | — | 1% | −5% | 6% | −1% | −5% | 6% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view TARC insights
59 extracted metrics across FY20–FY27.
Documents
- 11 Aug 2026
- 29 May 2026
- 7 Feb 2026
- 11 Nov 2025
- 12 Aug 2025
- 11 May 2026
- 22 Dec 2025
- 25 Apr 2025
- 9 Apr 2025
- 25 Mar 2025
- General announcements 9 Oct 2026
Frequently Asked Questions about TARC
What does TARC Ltd do?
Where is TARC Ltd (TARC) listed?
Which sector does TARC Ltd belong to?
What is the 52-week high and low of TARC Ltd?
What is the Return on Equity (ROE) of TARC Ltd?
Company Information
TARC Ltd. (The Anant Raj Corporation) started out as a construction and contracting company and evolved to become one of the largest real estate development companies and land bank holders in the New Delhi Metropolitan Area. The company‘s key developments are across verticals like Residential, Hospitality, Commercial and Retail projects. The name of the company has been changed from Anant Raj Global Ltd. to TARC Ltd. in April 2021.
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