Arton Global has disclosed a substantial acquisition in tarmat under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, significantly increasing its stake in the company through open market purchases.

Acquisition Details

The acquisition involved Arton Global purchasing 4,34,017 equity shares of Tarmat Ltd, representing 1.73% of the company's total share capital. This transaction increased Arton Global's holding from 13,61,197 shares (5.44%) to 17,95,214 shares (7.18%) of Tarmat's equity capital.

Transaction Timeline

The share purchases were executed over multiple dates spanning from October 2025 to February 2026. The acquisition dates included transactions on 13/10/25, 14/10/25, 15/10/25, 16/10/25, 17/10/25, 20/10/25, 04/11/25, 13/11/25, 20/11/25, 04/12/25, 05/12/25, 15/12/25, 13/01/26, 30/01/26, 02/02/26, 04/02/26, 05/02/26, and 09/02/26.

Company Structure

Tarmat Ltd maintains its equity share capital at 2.50 crore shares, which remained unchanged throughout the acquisition period. The company's shares are listed on both BSE (Scrip Code: 532869) and NSE (Scrip Code: TARMAT). Arton Global is not part of the promoter or promoter group of Tarmat Ltd.

Regulatory Compliance

The disclosure was filed on February 19, 2026, in compliance with SEBI regulations governing substantial acquisitions. The acquisition involved only equity shares carrying voting rights, with no involvement of warrants, convertible securities, or other instruments. No shares were encumbered during the transaction process.

Tarmat Limited announced its unaudited financial results for the third quarter ended December 31, 2025, demonstrating strong operational performance across key financial metrics. The Mumbai-based construction and infrastructure company reported significant improvements in both revenue and profitability compared to the corresponding period in the previous fiscal year.

Financial Performance Overview

The company's financial results for Q3 FY26 show robust growth across multiple parameters:

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, Tarmat Limited maintained its growth trajectory with consistent performance improvements. Revenue from operations reached ₹7,491.37 lakhs compared to ₹6,349.12 lakhs in the corresponding nine-month period of FY25. The company achieved a net profit of ₹328.51 lakhs for the nine-month period, substantially higher than ₹129.83 lakhs in the previous year.

Operational Efficiency and Cost Management

The company's expense structure reflects effective cost management strategies. Total expenses for Q3 FY26 stood at ₹2,629.03 lakhs, with major components including cost of materials consumed at ₹1,217.18 lakhs and construction expenses at ₹919.59 lakhs. Employee benefit expenses were ₹292.27 lakhs, while finance costs increased to ₹41.00 lakhs from ₹11.25 lakhs in the previous year quarter.

Board Meeting and Corporate Governance Updates

During the Board meeting held on February 5, 2026, which commenced at 2:30 PM and concluded at 3:30 PM, directors approved revisions to several key corporate policies:

These updated policies have been uploaded to the company's website at www.tarmatlimited.com , demonstrating the company's commitment to enhanced corporate governance standards.

Auditor's Review and Compliance

Hegde & Associates Chartered Accountants conducted a limited review of both standalone and consolidated financial results. The auditors issued an unqualified review report, though they noted an emphasis of matter regarding the company's investment in Backbone-Tarmat-AI Fara'a joint venture amounting to ₹783.02 lakhs, where fair value determination was challenging due to non-availability of financial information.

The company operates in a single segment and prepares its financial statements in accordance with Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013. Both standalone and consolidated results show identical figures, indicating the company's focused operational structure.