Tarmat reports ₹65.56 crore net profit in FY26

Tarmat Limited reported a net profit of ₹65.56 crore for the financial year ended March 31, 2026, marking a substantial increase from ₹18.69 crore in the previous year. Revenue from operations for the period stood at ₹1,173.74 crore, up from ₹1,012.84 crore in FY25, driven by growth across its infrastructure segments. The Board of Directors approved the audited standalone and consolidated financial results at a meeting held on May 30, 2026. The company submitted newspaper clippings of these results to the National Stock Exchange of India Limited and BSE Limited on June 01, 2026, in compliance with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

The company's profitability improved significantly in FY26, with profit before tax rising to ₹60.56 crore from ₹18.07 crore in the previous year. Earnings per share (EPS) for the year increased to ₹2.64 from ₹0.63 on a standalone basis. The finance costs for the year amounted to ₹11.22 crore, while depreciation and amortization expenses were recorded at ₹12.47 crore.

Metric	FY26 (₹ in Lakhs)	FY25 (₹ in Lakhs)
Revenue from operations	11,737.37	10,128.35
Total Expenses	11,255.62	10,053.03
Profit before tax	605.63	180.69
Net Profit	655.62	186.90
Earnings per share (Basic)	2.64	0.63

Audit Qualification

M/s. Hegde & Associates, Statutory Auditors, issued a qualified opinion in their report due to the non-availability of financial information for the Joint Venture Backbone Tarmat Alfaraa. The joint venture partner, Alfaraa, has gone into liquidation, and the liquidator has not yet finalized the accounts. Consequently, the company could not determine the fair value of its investment amounting to ₹7.83 crore as of March 31, 2026. Management stated that this would not have a material impact on the standalone or consolidated financial results and expressed optimism regarding the recovery of the investment.

Consolidated Results

On a consolidated basis, Tarmat reported a net profit of ₹62.42 crore for FY26, compared to ₹18.69 crore in the previous year. Revenue from operations for the group was ₹1,173.74 crore, up from ₹1,012.84 crore in FY25. The consolidated results exclude the financials of the Joint Venture Backbone Tarmat Alfaraa due to the aforementioned audit qualification. Total assets as of March 31, 2026, stood at ₹2,609.69 crore, while total equity and liabilities were recorded at ₹2,609.69 crore.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.24%	-0.30%	-1.52%	-0.93%	-6.55%	-9.03%

Tarmat Limited submitted its Annual Secretarial Compliance Report for the financial year ended March 31, 2026, revealing specific non-compliances despite an overall adherence to SEBI regulations. The report, issued by Practicing Company Secretary Prashant Diwan, highlights deviations concerning promoter shareholding and procedural delays that resulted in a monetary penalty. The company operates in the infrastructure sector, encompassing airports, highways, and railways.

Compliance Observations

The audit confirmed that Tarmat Limited complied with the provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, except for matters detailed in Annexure A. The company has addressed previous observations regarding the maintenance of a Structured Digital Database under the Prohibition of Insider Trading Regulations, becoming compliant after September 30, 2024.

Key Deviations and Penalties

The report identified three primary areas of non-compliance during the review period. A fine was levied for the delayed submission of the Annual Report, while procedural lapses were noted regarding shareholding dematerialization and director appointments.

Sr No	Compliance Requirement	Deviation	Action Taken	Fine Amount (Rs.)
1	100% Promoter shareholding in Demat	120 Equity Shares held by a promoter are not in dematerialized form.	Documents submitted to bank for dematerialization.	-
2	Shareholders approval for appointment of Director	Approval for a director appointed on May 7, 2025, was obtained on September 30, 2025, missing the prescribed timeline.	Approval postponed until the forthcoming AGM.	-
3	Submission of the Annual Report	The Annual Report was not submitted within the prescribed time.	-	2,360

Regulatory Filings and Remediation

Regarding the non-filing of the Annual Report for the year ended March 31, 2024, in XBRL format, the company assured that it would file the document shortly. The report also noted that while Secretarial Standards issued by the Institute of Company Secretaries of India (ICSI) were followed, the compliance mechanisms require strengthening. No actions were taken by SEBI or Stock Exchanges against the entity or its promoters during the year, other than the specified fine.