TARC Ltd

Is TARC Ltd overvalued or undervalued?

As of August 13, 2024, TARC Ltd is considered risky and overvalued due to negative financial ratios, including a PE ratio of -23.18 and an EV to EBITDA of -60.43, despite recent stock performance outpacing the Sensex.

As of 13 August 2024, TARC Ltd has moved from a valuation grade of very expensive to risky. The company is currently assessed as overvalued based on its financial ratios, which include a PE ratio of -23.18, an EV to EBITDA of -60.43, and a ROE of -22.17%. These figures indicate significant financial distress and a lack of profitability, which are concerning for potential investors.<BR><BR>In comparison to its peers, TARC Ltd's valuation stands out negatively; for instance, DLF Ltd has a PE ratio of 46.64 and Macrotech Developers boasts a PE of 54.71, both classified as very expensive. The stark contrast in valuation metrics suggests that TARC Ltd is not only underperforming relative to its peers but also carries higher risk. Despite recent stock performance that outpaced the Sensex, with a 1-month return of 34.51% compared to the Sensex's 3.81%, the underlying financial health raises red flags, reinforcing the conclusion that TARC Ltd is overvalued.

What does TARC Ltd do?

TARC Ltd, a Mid Cap company established in 2016, focuses on developing residential projects, hotels, and warehouses. As of March 2025, it reported net sales of 12 Cr and a net loss of 105 Cr, with a market cap of Rs 5,356 Cr.

Overview: <BR>TARC Ltd is engaged in the development of residential projects, hotels, branded and service apartments, and warehouses, operating within the Realty industry and classified as a Mid Cap company.<BR><BR>History: <BR>TARC Ltd was incorporated in 2016 and was formerly known as Anant Raj Global Limited, with the name change effective from April 19, 2021. The latest quarterly results reported are for March 2025, showing net sales and profit figures.<BR><BR>Financial Snapshot: <BR>Most recent Net Sales: 12 Cr (Quarterly Results - Mar 2025) <BR>Most recent Net Profit: -105 Cr (Quarterly Results - Mar 2025) <BR>Market-cap value: Rs 5,356 Cr (Mid Cap)<BR><BR>Key Metrics: <BR>P/E: N/A <BR>Industry P/E: 45 <BR>Dividend Yield: 0.00% <BR>Debt-Equity: 1.79 <BR>Return on Equity: -22.17% <BR>Price to Book: 4.96<BR><BR>Contact Details: <BR>Details: No Company Details Available <BR>Registrar Address: Not available.

Has TARC Ltd declared dividend?

No Dividend History Available

Who are the peers of the TARC Ltd?

TARC Ltd's peers include DLF, Macrotech Developers, Godrej Properties, Prestige Estates, Oberoi Realty, Raymond, EFC (I), Arkade, Ajmera Realty, and Ashiana Housing. TARC Ltd has below average management risk and a 1-year return of -0.59%, better than Raymond but worse than EFC (I) at 73.33%.

Peers: The peers of TARC Ltd are DLF, Macrotech Devel., Godrej Propert., Prestige Estates, Oberoi Realty, Raymond, EFC (I), Arkade, Ajmera Realty, and Ashiana Housing.<BR><BR>Quality Snapshot: Excellent management risk is observed at Macrotech Devel. and Oberoi Realty, while Average management risk is found at DLF, Godrej Propert., Prestige Estates, EFC (I), Arkade, Ajmera Realty, and Ashiana Housing, and Below Average management risk is noted for TARC Ltd. Growth is Excellent at Macrotech Devel. and Oberoi Realty, Average at DLF, and Below Average at Godrej Propert., Prestige Estates, TARC Ltd, Raymond, Arkade, Ajmera Realty, and Ashiana Housing. Capital Structure is Excellent at Oberoi Realty and Arkade, Good at DLF, and Below Average at Macrotech Devel., Godrej Propert., Prestige Estates, TARC Ltd, Raymond, EFC (I), Ajmera Realty, and Ashiana Housing.<BR><BR>Return Snapshot: EFC (I) has the highest 1-year return at 73.33%, while Raymond has the lowest at -72.99%. TARC Ltd's 1-year return is -0.59%, which is better than Raymond's but worse than EFC (I). Additionally, the six-month returns are negative for DLF, Godrej Propert., Oberoi Realty, TARC Ltd, Raymond, and Ajmera Realty.

Who are in the management team of TARC Ltd?

As of March 2022, the management team of TARC Ltd includes Amar Sarin (Managing Director & CEO), Muskaan Sarin (Whole-time Director), Anil Sarin (Chairman), and several independent directors: M R Nayak, Ambarish Chatterjee, Jyoti Ghosh, and Bindu Acharya. This diverse team oversees the company's governance and strategic direction.

As of March 2022, the management team of TARC Ltd includes the following individuals:<BR><BR>1. Amar Sarin - Managing Director & CEO<BR>2. M R Nayak - Independent Director<BR>3. Muskaan Sarin - Whole-time Director<BR>4. Ambarish Chatterjee - Independent Director<BR>5. Anil Sarin - Chairman (Non-Executive)<BR>6. Jyoti Ghosh - Independent Director<BR>7. Bindu Acharya - Independent Director<BR><BR>This team comprises a mix of executive and independent directors, contributing to the governance and strategic direction of the company.

Who are the top shareholders of the TARC Ltd?

The top shareholders of TARC Ltd include promoter Anil Sarin with 33.48%, mutual funds holding 4.9%, foreign institutional investors at 2.3%, and the highest public shareholder, Bandhan Small Cap Fund, with 2.7%. Individual investors collectively own 18.13% of the company.

The top shareholders of TARC Ltd include the promoters, who hold the majority of the shares. Anil Sarin is the promoter with the highest holding at 33.48%. Additionally, mutual funds hold 4.9% of the shares through 9 different schemes, while foreign institutional investors (FIIs) have a stake of 2.3% across 77 FIIs. The highest public shareholder is Bandhan Small Cap Fund, which holds 2.7%. Individual investors collectively own 18.13% of the company.

How big is TARC Ltd?

As of 24th July, TARC Ltd has a market capitalization of 5,660.00 Cr and reported net sales of 33.69 Cr, with a net loss of 231.21 Cr in the latest four quarters. The company has shareholder's funds of 1,274.57 Cr and total assets of 3,369.26 Cr as of March 2024.

As of 24th July, TARC Ltd has a market capitalization of 5,660.00 Cr, categorizing it as a Mid Cap company.<BR><BR>In the latest four quarters, TARC Ltd reported net sales of 33.69 Cr. However, the company experienced a loss of 231.21 Cr in net profit during the same period.<BR><BR>The latest annual reporting period for TARC Ltd is March 2024. During this time, the company had shareholder's funds amounting to 1,274.57 Cr and total assets of 3,369.26 Cr.

When is the next results date for TARC Ltd?

TARC Ltd will declare its results on 12 August 2025.

TARC Ltd will declare its results on 12 August 2025.

How has been the historical performance of TARC Ltd?

TARC Ltd has faced significant financial challenges, with net sales and total operating income plummeting from 368.12 Cr in Mar'23 to 33.69 Cr in Mar'25, resulting in a negative profit after tax of -231.29 Cr. Total liabilities increased from 3,068.41 Cr to 4,105.97 Cr during the same period, indicating a deteriorating financial position.

Answer:<BR>The historical performance of TARC Ltd shows significant fluctuations in key financial metrics over the years.<BR><BR>Breakdown:<BR>TARC Ltd's net sales have seen a dramatic decline from 368.12 Cr in Mar'23 to just 33.69 Cr in Mar'25. Total operating income followed a similar trend, dropping from 368.12 Cr in Mar'23 to 33.69 Cr in Mar'25. The raw material costs also decreased significantly, from 167.81 Cr in Mar'23 to 43.36 Cr in Mar'25. However, total expenditure, excluding depreciation, increased from 209.16 Cr in Mar'23 to 166.66 Cr in Mar'25, leading to an operating profit (PBDIT) that turned negative, reaching -132.97 Cr in Mar'25 compared to a positive 158.96 Cr in Mar'23. Interest expenses rose to 106.43 Cr in Mar'25, contributing to a profit before tax of -243.19 Cr. Consequently, the profit after tax also turned negative, amounting to -231.29 Cr in Mar'25. The company's total liabilities increased from 3,068.41 Cr in Mar'23 to 4,105.97 Cr in Mar'25, while total assets rose from 3,068.41 Cr to 4,105.97 Cr in the same period. Cash flow from operating activities decreased to 42.00 Cr in Mar'25, and the closing cash and cash equivalents fell to 48.00 Cr. Overall, TARC Ltd has experienced a challenging financial landscape with declining revenues and increasing liabilities.

How has been the historical performance of TARC Ltd?

TARC Ltd has experienced significant financial decline, with net sales dropping from 368.12 Cr in Mar'23 to 33.69 Cr in Mar'25, and operating profit turning negative at -132.97 Cr. The company also reported increasing losses, with profit after tax falling from 20.37 Cr to -231.29 Cr during the same period.

Answer:<BR>The historical performance of TARC Ltd shows significant fluctuations over the years, particularly in net sales and profitability.<BR><BR>Breakdown:<BR>TARC Ltd's net sales have seen a dramatic decline from 368.12 Cr in Mar'23 to just 33.69 Cr in Mar'25, reflecting a downward trend in revenue generation. Total operating income followed a similar pattern, dropping from 368.12 Cr in Mar'23 to 33.69 Cr in Mar'25. The company's total expenditure, excluding depreciation, peaked at 435.05 Cr in Mar'22 but has since decreased to 166.66 Cr in Mar'25. Operating profit (PBDIT) turned negative in Mar'25 at -132.97 Cr, following a positive figure of 158.96 Cr in Mar'23. This decline is mirrored in the profit before tax, which fell from 41.15 Cr in Mar'23 to -243.19 Cr in Mar'25. The profit after tax also showed a negative trend, moving from a profit of 20.37 Cr in Mar'23 to a loss of 231.29 Cr in Mar'25. On the balance sheet, total liabilities increased from 3,068.41 Cr in Mar'23 to 4,105.97 Cr in Mar'25, while total assets rose from 3,068.41 Cr to 4,105.97 Cr in the same period. Cash flow from operating activities decreased significantly, resulting in a net cash outflow of -10.00 Cr in Mar'25, compared to a net inflow of 89.00 Cr in Mar'23. Overall, TARC Ltd's financial performance indicates a challenging period marked by declining revenues and increasing losses.

How has been the historical performance of TARC Ltd?

TARC Ltd has experienced significant financial decline, with net sales dropping from 368.12 Cr in Mar'23 to 33.69 Cr in Mar'25, and operating profit turning negative at -127.77 Cr. The company reported a loss of -231.29 Cr in profit after tax for Mar'25, reflecting ongoing operational challenges.

Answer:<BR>The historical performance of TARC Ltd shows significant fluctuations in its financial metrics over the years, particularly in net sales, operating profit, and net profit.<BR><BR>Breakdown:<BR>TARC Ltd's net sales have seen a dramatic decline from 368.12 Cr in Mar'23 to just 33.69 Cr in Mar'25, reflecting a downward trend in total operating income as well. The company's total expenditure, excluding depreciation, peaked at 435.05 Cr in Mar'22 but has since decreased to 166.66 Cr in Mar'25. This reduction in expenditure has not translated into profitability, as the operating profit (PBDIT) turned negative, dropping from 165.50 Cr in Mar'23 to -127.77 Cr in Mar'25. The profit before tax also worsened, moving from a positive 41.15 Cr in Mar'23 to -243.19 Cr in Mar'25. Consequently, the profit after tax has remained negative, with a loss of -231.29 Cr reported in Mar'25, compared to a profit of 20.37 Cr in Mar'23. The company's total assets increased from 3,230.58 Cr in Mar'20 to 4,105.97 Cr in Mar'25, while total liabilities also rose significantly, reaching 4,105.97 Cr in Mar'25. Cash flow from operating activities has declined sharply, with a cash inflow of only 42.00 Cr in Mar'25 compared to 158.00 Cr in Mar'24. Overall, TARC Ltd's financial performance has been characterized by increasing losses and declining sales, indicating challenges in its operational efficiency and market position.

Is TARC Ltd technically bullish or bearish?

As of December 1, 2025, TARC Ltd's technical trend is mildly bearish, indicated by bearish MACD and KST readings, mixed RSI signals, and mildly bearish Bollinger Bands, suggesting cautious sentiment with prevailing bearish pressure in the short to medium term.

As of 1 December 2025, the technical trend for TARC Ltd has changed from bearish to mildly bearish. The current stance is mildly bearish, driven by several key indicators. The MACD is bearish on the weekly chart and mildly bearish on the monthly chart, indicating a lack of upward momentum. The RSI shows no signal on the weekly timeframe but is bullish on the monthly, suggesting some potential for recovery. Bollinger Bands are mildly bearish on both weekly and monthly charts, reinforcing the bearish sentiment. Moving averages on the daily timeframe are also mildly bearish. KST is bearish on the weekly and mildly bearish on the monthly, while Dow Theory indicates a mildly bullish stance on the weekly but no trend on the monthly. Overall, the mixed signals suggest a cautious outlook, with bearish pressure prevailing in the short to medium term.

Are TARC Ltd latest results good or bad?

TARC Ltd's latest results show significant challenges, with a net loss of ₹21.03 crores and a negative operating margin of -47.45%, despite a substantial 458.66% increase in revenue. Overall, the company's financial health appears precarious, warranting caution from investors.

TARC Ltd's latest results present a mixed picture, but overall, they indicate significant challenges for the company. In Q3 FY26, TARC reported a net loss of ₹21.03 crores, which is a 33.44% increase in losses compared to the previous quarter. This ongoing trend of losses raises concerns about the company's profitability and operational efficiency.<BR><BR>On a more positive note, the company achieved a remarkable 458.66% quarter-on-quarter increase in revenue, reaching ₹38.38 crores, up from ₹6.87 crores in Q2 FY26. This substantial revenue growth suggests some improvement in project delivery and market activity. However, this growth has not translated into operational profitability, as evidenced by a negative operating margin of -47.45%.<BR><BR>Additionally, TARC's return on equity (ROE) stands at -8.76%, indicating weak capital efficiency. The company's high leverage, with a net debt to equity ratio of 1.69, further complicates its financial situation, making it difficult to sustain operations amid ongoing losses.<BR><BR>In summary, while TARC Ltd has shown impressive revenue growth, the persistent losses, negative operating margins, and high leverage indicate that the company's financial health remains precarious. Investors should be cautious, as the fundamental challenges appear to outweigh the positive aspects of the latest results.

Should I buy, sell or hold TARC Ltd?

Why is TARC Ltd falling/rising?

As of 18-Apr, TARC Ltd's stock price is at 134.80, down 0.59%, indicating a potential reversal after recent gains. Despite positive quarterly results and growth in net sales, the company faces significant challenges, including an operating loss and high debt levels, contributing to its underperformance over the past year.

As of 18-Apr, TARC Ltd's stock price is currently at 134.80, reflecting a decrease of 0.8, or 0.59%. The stock has shown a trend of falling after two consecutive days of gains, indicating a potential reversal in its short-term performance. Despite a strong performance over the past week and month, where the stock rose by 7.54% and 11.45% respectively, it has underperformed the sector today by 1.73%.<BR><BR>The company's financial health presents a mixed picture. While it has declared positive results for the last three consecutive quarters, including a significant growth in net sales of 47.7% compared to the previous four-quarter average, it also faces challenges. The company has recorded an operating loss and has a high debt-to-EBITDA ratio of -7.82 times, indicating a weak ability to service its debt. Additionally, the negative EBITDA of Rs. -257.81 crore raises concerns about its profitability.<BR><BR>Over the past year, TARC Ltd has underperformed the broader market, generating a return of -7.32% compared to the BSE500's 5.01%. This underperformance, coupled with the company's weak long-term fundamental strength and low return on equity of 0.32%, contributes to the stock's current decline. The combination of these factors suggests that while there may have been short-term gains, the overall outlook remains challenging, leading to the stock's falling price.

Which are the latest news on TARC Ltd?