Tarmat Limited (TARMAT) - Net Assets

Latest as of September 2025: Rs1.75 Billion INR ≈ $18.97 Million USD

Based on the latest financial reports, Tarmat Limited (TARMAT) has net assets worth Rs1.75 Billion INR (≈ $18.97 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs2.35 Billion ≈ $25.46 Million USD) and total liabilities (Rs599.51 Million ≈ $6.48 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check tangible equity quality of Tarmat Limited to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Rs1.75 Billion
% of Total Assets	74.53%
Annual Growth Rate	11.56%
5-Year Change	182.69%
10-Year Change	356.67%
Growth Volatility	35.22

Tarmat Limited - Net Assets Trend (2005–2025)

This chart illustrates how Tarmat Limited's net assets have evolved over time, based on quarterly financial data. See TARMAT cash and liquid assets coverage to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Tarmat Limited (2005–2025)

The table below shows the annual net assets of Tarmat Limited from 2005 to 2025. For live valuation and market cap data, see Tarmat Limited market cap and net worth.

Year	Net Assets	Change
2025-03-31	Rs1.73 Billion ≈ $18.74 Million	+33.66%
2024-03-31	Rs1.30 Billion ≈ $14.02 Million	-0.83%
2023-03-31	Rs1.31 Billion ≈ $14.14 Million	+39.70%
2022-03-31	Rs935.75 Million ≈ $10.12 Million	+52.67%
2021-03-31	Rs612.92 Million ≈ $6.63 Million	+9.17%
2020-03-31	Rs561.46 Million ≈ $6.07 Million	+41.09%
2019-03-31	Rs397.94 Million ≈ $4.30 Million	+1.47%
2018-03-31	Rs392.16 Million ≈ $4.24 Million	+3.26%
2017-03-31	Rs379.76 Million ≈ $4.11 Million	+0.09%
2016-03-31	Rs379.42 Million ≈ $4.10 Million	+2.20%
2015-03-31	Rs371.25 Million ≈ $4.01 Million	-36.08%
2014-03-31	Rs580.80 Million ≈ $6.28 Million	-27.85%
2013-03-31	Rs805.04 Million ≈ $8.71 Million	-24.61%
2012-03-31	Rs1.07 Billion ≈ $11.55 Million	-3.46%
2011-03-31	Rs1.11 Billion ≈ $11.96 Million	+0.23%
2010-03-31	Rs1.10 Billion ≈ $11.93 Million	+0.93%
2009-03-31	Rs1.09 Billion ≈ $11.82 Million	+0.89%
2008-03-31	Rs1.08 Billion ≈ $11.72 Million	+104.69%
2007-03-31	Rs529.46 Million ≈ $5.73 Million	+83.23%
2006-03-31	Rs288.96 Million ≈ $3.12 Million	+48.59%
2005-03-31	Rs194.46 Million ≈ $2.10 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Tarmat Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have decreased by 8573500000.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (March 2025)

Component	Amount	Percentage
Common Stock	Rs240.64 Million	13.89%
Other Comprehensive Income	Rs157.26 Million	9.08%
Other Components	Rs1.42 Billion	81.98%
Total Equity	Rs1.73 Billion	100.00%

Tarmat Limited Competitors by Market Cap

The table below lists competitors of Tarmat Limited ranked by their market capitalization.

Company	Market Cap
MMS Ventures Bhd KLSE:0113	$14.05 Million
L&P Global Berhad KLSE:0268	$14.05 Million
Jadi Imaging Holdings Bhd KLSE:7223	$14.05 Million
Asuransi Jiwa Syariah Jasa Mitra Abadi Tbk PT JK:JMAS	$14.06 Million
Akritas S.A AT:AKRIT	$14.04 Million
Churchill Capital Corp IX Warrant NASDAQ:CCIXW	$14.04 Million
KSG Agro SA WAR:KSG	$14.03 Million
Thai Packaging & Printing Public Company Limited BK:TPP	$14.03 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Tarmat Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 1,296,364,000 to 1,732,690,000, a change of 436,326,000 (33.7%).
Net income of 18,690,000 contributed positively to equity growth.
Share repurchases of 418,125,000 reduced equity.
New share issuances of 418,125,000 increased equity.
Other comprehensive income increased equity by 156,416,000.
Other factors increased equity by 261,220,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	Rs18.69 Million	+1.08%
Share Repurchases	Rs418.12 Million	-24.13%
Share Issuances	Rs418.12 Million	+24.13%
Other Comprehensive Income	Rs156.42 Million	+9.03%
Other Changes	Rs261.22 Million	+15.08%
Total Change	Rs-	33.66%

Book Value vs Market Value Analysis

This analysis compares Tarmat Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 0.84x
The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
The price-to-book ratio has decreased from 1.48x to 0.84x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2005-03-31	Rs35.10	Rs51.82	x
2006-03-31	Rs52.15	Rs51.82	x
2007-03-31	Rs48.31	Rs51.82	x
2008-03-31	Rs109.17	Rs51.82	x
2009-03-31	Rs99.75	Rs51.82	x
2010-03-31	Rs100.68	Rs51.82	x
2011-03-31	Rs100.91	Rs51.82	x
2012-03-31	Rs97.42	Rs51.82	x
2013-03-31	Rs73.45	Rs51.82	x
2014-03-31	Rs52.99	Rs51.82	x
2015-03-31	Rs33.87	Rs51.82	x
2016-03-31	Rs34.62	Rs51.82	x
2017-03-31	Rs34.65	Rs51.82	x
2018-03-31	Rs35.78	Rs51.82	x
2019-03-31	Rs36.31	Rs51.82	x
2020-03-31	Rs42.10	Rs51.82	x
2021-03-31	Rs45.96	Rs51.82	x
2022-03-31	Rs59.22	Rs51.82	x
2023-03-31	Rs61.33	Rs51.82	x
2024-03-31	Rs58.41	Rs51.82	x
2025-03-31	Rs61.64	Rs51.82	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Tarmat Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 1.08%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 1.85%
• Asset Turnover: 0.43x
• Equity Multiplier: 1.36x
Recent ROE (1.08%) is above the historical average (-0.51%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2005	18.92%	4.89%	1.27x	3.05x	Rs17.34 Million
2006	34.09%	11.97%	1.21x	2.35x	Rs69.61 Million
2007	19.74%	8.98%	1.01x	2.18x	Rs51.56 Million
2008	5.48%	4.55%	0.70x	1.72x	Rs-49.01 Million
2009	2.05%	1.45%	0.83x	1.71x	Rs-86.91 Million
2010	2.08%	1.88%	0.72x	1.54x	Rs-87.37 Million
2011	0.23%	0.28%	0.45x	1.76x	Rs-108.11 Million
2012	-3.58%	-1.99%	1.00x	1.81x	Rs-145.03 Million
2013	-32.64%	-17.00%	0.86x	2.25x	Rs-343.24 Million
2014	-38.61%	-21.29%	0.55x	3.30x	Rs-282.32 Million
2015	-56.44%	-31.65%	0.36x	4.90x	Rs-246.67 Million
2016	1.87%	0.78%	0.49x	4.92x	Rs-30.84 Million
2017	0.09%	0.04%	0.41x	5.05x	Rs-37.63 Million
2018	3.16%	0.60%	0.79x	6.63x	Rs-26.82 Million
2019	1.45%	0.44%	0.68x	4.87x	Rs-34.01 Million
2020	12.24%	2.49%	1.02x	4.80x	Rs12.57 Million
2021	8.40%	2.63%	0.84x	3.79x	Rs-9.83 Million
2022	4.89%	2.53%	0.82x	2.35x	Rs-47.81 Million
2023	5.67%	5.16%	0.67x	1.63x	Rs-56.57 Million
2024	-0.87%	-1.27%	0.45x	1.53x	Rs-140.96 Million
2025	1.08%	1.85%	0.43x	1.36x	Rs-154.58 Million

Industry Comparison

This section compares Tarmat Limited's net assets metrics with peer companies in the Engineering & Construction industry.

Industry Context

Industry: Engineering & Construction
Average net assets among peers: $9,786,288,823
Average return on equity (ROE) among peers: 16.13%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Tarmat Limited (TARMAT)	Rs1.75 Billion	18.92%	0.34x	$14.05 Million
A2Z Infra Engineering Limited (A2ZINFRA)	$11.77 Billion	6.75%	0.79x	$27.16 Million
AFCONS INFRASTRUCTURE LTD (AFCONS)	$27.03 Billion	13.18%	3.80x	$1.27 Billion
Akash Infra-Projects Limited (AKASH)	$835.99 Million	1.65%	1.30x	$4.86 Million
Ashoka Buildcon Limited (ASHOKA)	$19.75 Billion	14.81%	7.68x	$399.98 Million
AXISCADES Technologies Limited (AXISCADES)	$243.57 Million	13.90%	0.26x	$893.23 Million
Capacit'e Infraprojects Limited (CAPACITE)	$9.29 Billion	0.16%	1.42x	$207.91 Million
Consolidated Construction Consortium Limited (CCCL)	$251.80 Million	51.69%	1.73x	$71.41 Million
Ceigall India (CEIGALL)	$21.46 Billion	14.53%	1.57x	$715.53 Million
Dilip Buildcon Limited (DBL)	$7.19 Billion	25.83%	3.96x	$754.62 Million
Dhruv Consultancy Services Limited (DHRUV)	$42.01 Million	18.80%	1.98x	$5.65 Million

About Tarmat Limited

NSE:TARMAT India Engineering & Construction

Market Cap

$14.05 Million

Rs1.30 Billion INR

Market Cap Rank

#26186 Global

#1457 in India

Share Price

Rs51.82

Change (1 day)

-0.04%

52-Week Range

Rs47.48 - Rs71.14

All Time High

Rs148.35