Tarmat Ltd - Stock Valuation and Financial Performance

BSE: 532869 | NSE: TARMAT | Engineering - Construction | Small Cap

Tarmat Share Price

106.09 -2.16 -2.00%
as on 12-Apr'24 10:16

DeciZen - make an informed investing decision on Tarmat

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Semi Strong

Tarmat stock performance -

mw4me loader
P/E Ratio (SA):
153.72
Market Cap:
226.1 Cr.
52-wk low:
58
52-wk high:
152.9

Is Tarmat Ltd an attractive stock to invest in?

1. Is Tarmat Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Tarmat Ltd is a below average quality company.

2. Is Tarmat Ltd undervalued or overvalued?

The key valuation ratios of Tarmat Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Tarmat Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Tarmat Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Tarmat:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Tarmat Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % -7.2%-6.3%2.4%-0%-2.1%-9%5.6%4.6%4.2%4.4%-
Value Creation
Index
-1.5-1.5-0.8-1.0-1.2-1.7-0.6-0.7-0.7-0.7-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 11769.253.76160.492.9221173151155111
Sales YoY Gr.--40.7%-22.3%13.5%-1%53.9%137.3%-21.6%-12.7%2.3%-
Adj EPS -20.5-19.10.4-0-3.7-12.85.23.82.72.70.7
YoY Gr.-NANA-106.8%NANANA-26.2%-28.2%-2.9%-
BVPS (₹) 52.933.834.534.635.736.242.145.952.961.361.9
Adj Net
Profit
-22.4-210.50-4.1-146.95.14.35.71
Cash Flow from Ops. 6.52.3-0.1-0.914.417.3-13.626.42.39.6-
Debt/CF from Ops. 16.850.9-1515.4-1317.85.6-8.13.418.60.6-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 3.2%20.7%-11.2%2.3%
Adj EPS NANA-19.9%-2.9%
BVPS1.7%11.4%13.4%15.9%
Share Price 30% 20.4% 31.9% 46.2%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
-32.4-441.3-0.1-10.6-35.414.38.65.651.1
Op. Profit
Mgn %
-4.1-5.2-0.21.3-27.5-20.554.24.81.42.2
Net Profit
Mgn %
-19.2-30.30.9-0.1-6.8-15.13.12.92.93.71.3
Debt to
Equity
1.93.23.13.12.92.521.50.50.1-
Working Cap
Days
458746958851831496231325377384233
Cash Conv.
Cycle
13316019818320212146435054133

Recent Performance Summary

No data to display

Return on Equity has declined versus last 3 years average to 1.10%

Sales growth has been subdued in last 3 years -11.16%

Net Profit has been subdued in last 3 years -19.87%

Sales growth is not so good in last 4 quarters at -22.39%

Latest Financials - Tarmat Ltd.

Standalone Consolidated
TTM EPS (₹) 0.7 0.7
TTM Sales (₹ Cr.) 111 111
BVPS (₹.) 61.9 61.9
Reserves (₹ Cr.) 111 111
P/BV 1.72 1.72
PE 153.72 153.83
From the Market
52 Week Low / High (₹) 58.00 / 152.89
All Time Low / High (₹) 6.57 / 376.25
Market Cap (₹ Cr.) 226
Equity (₹ Cr.) 21.3
Face Value (₹) 10
Industry PE 41.3

Management X-Ray of Tarmat:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales1176954616093220173151155
Operating Expenses 12173546077112210166144152
Manufacturing Costs9557453423441481158363
Material Costs199421424154394674
Employee Cost 3322235699
Other Costs 544310233566
Operating Profit -5-401-17-1911772
Operating Profit Margin (%) -4.1%-5.1%-0.2%1.3%-27.5%-20.5%5.0%4.2%4.6%1.4%
Other Income 211119221114
Interest 161650112321
Depreciation 4421111111
Exceptional Items 0000000003
Profit Before Tax -23-21-60019457
Tax 00-70-102-100
Profit After Tax -22-2110117557
PAT Margin (%) -19.2%-30.3%1.5%0.1%2.1%0.6%3.1%2.9%3.0%4.8%
Adjusted EPS (₹)-20.5-19.10.80.01.10.55.23.82.93.5
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 583738383940566184131
Share Capital 11111111111113131621
Reserves 472627272829434868109
Minority Interest0000000000
Debt10611311811811397110311
Long Term Debt261942425597110311
Short Term Debt809476765700000
Trade Payables18211718171839384044
Others Liabilities 91077713231066819
Total Liabilities 192182180181176168229209192194

Fixed Assets

Gross Block63636363636368717172
Accumulated Depreciation42464850515152535556
Net Fixed Assets21171413121116171616
CWIP 0000000000
Investments 2419191927272727910
Inventories33282726273149435341
Trade Receivables16212123211917131622
Cash Equivalents 555569281545
Others Assets939393948371929493100
Total Assets 192182180181176168229209192194

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 720-11417-1426210
PBT -23-21-60019457
Adjustment 201971223422
Changes in Working Capital 105-7-01115-2317-59
Tax Paid 006-210-220-8
Cash Flow From Investing Activity -24600-71-5-218-1
Capex 000000-6-30-1
Net Investments -24500-8000180
Others 0000001100
Cash Flow From Financing Activity 17-800-7-1720-24-21-8
Net Proceeds from Shares 0000009000
Net Proceeds from Borrowing 3370004213000
Interest Paid -16-16-50-1-1-2-3-20
Dividend Paid 0000000000
Others 0050-5-570-21-19-8
Net Cash Flow 000-10121-11
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)-32.4-44.12.180.093.241.4514.458.696.326.92
ROCE (%)-4.54-3.64-0.70.150.941.447.384.514.95.71
Asset Turnover Ratio0.630.370.30.340.340.541.110.790.750.8
PAT to CFO Conversion(x)N/AN/A0N/A1417-25.20.41.43
Working Capital Days
Receivable Days66961411301338030323545
Inventory Days1221591851581621146697116111
Payable Days3627951,962306154160195357306204

Tarmat Ltd Stock News

Tarmat Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Tarmat on 12-Apr-2024 10:16 is ₹106.1.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 12-Apr-2024 10:16 the market cap of Tarmat stood at ₹226.1.
The latest P/E ratio of Tarmat as of 12-Apr-2024 10:16 is 153.7.
The latest P/B ratio of Tarmat as of 12-Apr-2024 10:16 is 1.72.
The 52-week high of Tarmat is ₹152.9 and the 52-week low is ₹58.00.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Tarmat is ₹110.6 ( Cr.) .

About Tarmat Ltd

Roman Tarmat was established in the year 1986 by its Promoter Director Jerry Varghese is an infrastructure construction company engaged in the business of construction of Highways and Runways. Their Company is headquartered at Mumbai with operations spread across the states of Maharashtra, Tamilnadu, Karnataka, Kerala, Mizoram, Gujarat and Delhi.

Their Company started its operations by taking up road works for Government Departments like Public Works Department (PWD), Maharashtra Industrial Development Corporation (MIDC) and BrihanMumbai Municipal Corporation (BMC). In the year 1988, they bagged their first major contract for construction of roads/ bituminous flexible pavement for the entire Nhava Sheva port and construction of rigid concrete pavement base with RCC beams and columns in container yard and completed the project within the stipulated period of 24 months.They provide engineering, procurement and construction services for infrastructure projects.

They constructed runways by taking up the work of strengthening of secondary runway 09/27 at Indira Gandhi International airport, New Delhi. They have also completed bituminous overlay of the runway at Vadodara Airport and upgradation of the main runway 09/27 at the Mumbai International Airport.

The Company has been accredited with “ISO 9001:2000” Quality Management System Certificate for construction of Highways and Airports. They have mainly worked on projects sponsored by Government or Government agencies, including the Central Government, State Governments and Municipalities.

Roman Tarmat has catered to the domestic and international airports, military air base and naval airports and established itself as a reputed & reliable runway contractor among its clients viz; AAI, MES, NAVY, MIDC etc. Some of the creditworthy projects handled by  Roman Tarmat are the MES Vishakapatnam Naval airport – one of the longest runway in India, Jamnagar Airport, AAI Mumbai International Airport, Delhi IGI International Airport.

Roman Tarmat was the first to make a revolutionary change in the BMC for using Ready Mix Concrete in their road projects.

Current projects of the company:

  • Karnataka State Highways Improvement Project-Upgradation of road from Sankeshwar to Yaragatti Total Length of 73Km
  • Construction of integrated roads at north lake village , Amby valley city, Lonavala
  • Bus Rapid Transportation System From RTO-Pirana.
  • Concretization of Existing Roads (Part- I)
  • Construction of Additional Concrete Parking bays for aircrafts at Cochin International Airport. And many more

Achievements/ recognition

  • The company holds ISO 9000:2008 certification
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