Company Overview

Tarmat Limited (BSE: 532869, NSE: TARMAT) reported exceptional financial performance for FY 2025-26 with standalone net profit surging 234% YoY to ₹655.62 lakh from ₹186.90 lakh in FY25. Revenue from operations grew 16% to ₹11,737.37 lakh, while EPS increased to ₹2.64 from ₹0.63.

Financial Performance & Operations

The company demonstrated strong operational execution with contract revenue recognition of ₹11,822.97 lakh under AS-115. Cost of construction materials consumed increased to ₹4,542.37 lakh, while employee benefit expenses rose to ₹1,211.86 lakh. The company maintains approximately ₹300 crores of unfinished infrastructure projects including runway works at Chennai, Tuticorin, Jammu, and Mumbai airports.

Capital Structure & Borrowings

Total borrowings stood at ₹1,300.15 lakh with non-current borrowings of ₹1,054.17 lakh (secured loans of ₹783.86 lakh from ICICI Bank, Mahindra Finance, and Caterpillar Financial Services). Current borrowings were ₹245.98 lakh from Bank of Maharashtra. The capital increase resulted from conversion of 10,00,000 warrants into equity shares at ₹95 each, while 56,05,260 warrants were forfeited due to non-exercise of conversion rights.

AGM & Corporate Governance

The 41st Annual General Meeting is scheduled for September 30, 2026, seeking approval for:

  • Reappointment of directors including Mr. Dilip Varghese as Managing Director and Mr. Amit Shah as Executive Director
  • Reappointment of M/s. Hegde & Associates as statutory auditors for a second five-year term
  • Increased remuneration for key managerial personnel including Mr. Jerry Varghese (₹4.50 lakh/month) and Mr. Dilip Varghese (₹4.00 lakh/month)
  • Reappointment of Mr. Krishan Kumar Kinra as Independent Director

Shareholding & Ownership

Promoter shareholding increased to 29.05% (72,81,800 shares) with Jerry Varghese increasing his stake by 2.03% to 13.93%. Public shareholding stands at 70.95% with 99.99% shares in dematerialized form. The company declared no outstanding dues to MSMEs and maintained strong regulatory compliance across all disclosures.

Regulatory Compliance & Disclosures

The financial statements were prepared pursuant to SEBI Listing Regulations and Companies Act, 2013 requirements. The company disclosed no benami properties, willful default status, or cryptocurrency investments. Contingent liabilities include bank guarantees of ₹2,041.34 lakh and contested sales tax demands of ₹265.11 lakh related to FY 2008-09 input tax credit disallowance.