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TARC Limited
(TARC)
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Rating:45Neutral
Price Target:
₹124.00
▼(-6.77% Downside)
Action:Reiterated
Date:09/06/26
The score is held back primarily by uneven financial quality—especially negative FY2026 operating/free cash flow and elevated leverage—despite a meaningful FY2026 earnings rebound. Technicals are mixed with only modest near-term support and a weaker longer-term trend, while valuation metrics are constrained by negative earnings and no provided dividend yield.
Positive Factors
FY2026 earnings rebound
The return to positive earnings alongside a substantial revenue increase indicates that project sales can generate meaningful operating scale when execution improves. If this recovery persists, it could rebuild profitability and provide a stronger foundation for funding future development activity.
Negative Factors
Elevated and rising leverage
Leverage has risen materially from earlier periods and remains high at roughly 1.8 times equity. This increases financial risk if project sales or approvals weaken, while debt obligations can restrict capital allocation and reduce flexibility during a slower operating cycle.
Read all positive and negative factors
Positive Factors
Negative Factors
FY2026 earnings rebound
The return to positive earnings alongside a substantial revenue increase indicates that project sales can generate meaningful operating scale when execution improves. If this recovery persists, it could rebuild profitability and provide a stronger foundation for funding future development activity.
Read all positive factors
TARC Limited (TARC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹38.78B
Dividend YieldN/A
Average Volume (3M)37.89K
Price to Earnings (P/E)―
Beta (1Y)1.12
Revenue Growth82.84%
EPS Growth91.45%
CountryIN
Employees412
SectorGeneral
Sector StrengthN/A
IndustryReal Estate - Development
Share Statistics
EPS (TTM)-0.42
Shares Outstanding295,096,340
10 Day Avg. Volume46,743
30 Day Avg. Volume37,891
Financial Highlights & Ratios
PEG Ratio-0.15
Price to Book (P/B)0.43
Price to Sales (P/S)0.68
P/FCF Ratio-2.21
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)2
Revenue Forecast (FY)₹12.00B
TARC Limited Business Overview & Revenue Model
Company Description
TARC Limited is an Indian enterprise primarily focused on property development. Its activities encompass a broad range of real estate projects, including residential housing, hotels, branded and serviced apartments, industrial warehouses, and reta...
How the Company Makes Money
TARC primarily makes money by developing real estate projects and monetizing them through the sale of completed or under-construction property units to end customers. Revenue is typically recognized from customer contracts for the sale of real est...
TARC Limited Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
46
Neutral
Cash Flow
34
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.77B | 6.72B | 336.89M | 1.12B | 1.85B | 954.53M |
| Gross Profit | 704.26M | 3.89B | -96.70M | 706.59M | 814.23M | -1.85B |
| EBITDA | 201.26M | 775.14M | -1.28B | 561.16M | 1.65B | -1.46B |
| Net Income | -125.09M | 190.71M | -2.31B | -770.46M | 203.40M | -2.33B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 46.00B | 42.16B | 34.66B | 31.66B | 29.79B |
| Cash, Cash Equivalents and Short-Term Investments | 810.91M | 810.91M | 2.05B | 588.42M | 1.06B | 193.49M |
| Total Debt | 0.00 | 18.95B | 19.54B | 13.93B | 13.86B | 11.79B |
| Total Liabilities | -10.62B | 35.37B | 31.72B | 21.91B | 18.14B | 16.47B |
| Stockholders Equity | 10.62B | 10.62B | 10.43B | 12.75B | 13.52B | 13.32B |
Cash Flow | ||||||
| Free Cash Flow | 2.45B | -2.08B | 57.02M | 1.17B | -876.05M | -811.72M |
| Operating Cash Flow | 2.65B | -1.76B | 429.55M | 1.58B | -810.12M | -811.72M |
| Investing Cash Flow | -393.69M | 2.67B | -678.05M | -390.62M | 745.16M | 3.67B |
| Financing Cash Flow | -1.62B | -612.94M | 142.64M | -1.66B | 958.92M | -2.79B |
TARC Limited Technical Analysis
Positive
133.00
Price Trends
125.97
Positive
128.41
Positive
137.60
Negative
Market Momentum
0.61
Negative
56.58
Neutral
75.44
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TARC, the sentiment is Positive. The current price of 133 is above the 20-day moving average (MA) of 123.46, above the 50-day MA of 125.97, and below the 200-day MA of 137.60, indicating a neutral trend. The MACD of 0.61 indicates Negative momentum. The RSI at 56.58 is Neutral, neither overbought nor oversold. The STOCH value of 75.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:TARC.
TARC Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹34.81B | 29.14 | ― | 0.43% | 37.12% | 224.95% | |
61 Neutral | ₹30.11B | 15.18 | ― | 0.23% | -1.06% | -29.61% | |
59 Neutral | ₹26.35B | 27.54 | ― | 0.84% | 28.63% | -26.47% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹43.45B | 20.08 | ― | 0.52% | 50.62% | 32.30% | |
53 Neutral | ₹39.19B | 31.54 | ― | 1.09% | 7.76% | 27.78% | |
45 Neutral | ₹38.78B | -309.00 | ― | ― | 82.84% | 91.45% |
* General Sector Average
IN:TARC
TARC Limited
129.75
-26.55
-16.99%
IN:ASHIANA
Ashiana Housing Limited
349.90
38.36
12.31%
IN:HUBTOWN
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183.75
-151.35
-45.17%
IN:KOLTEPATIL
Kolte-Patil Developers Limited
444.30
-20.25
-4.36%
IN:MARATHON
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436.45
-183.07
-29.55%
IN:SUNTECK
Sunteck Realty Limited
292.35
-152.80
-34.33%
TARC Limited Corporate Events
TARC Sets September 19 Virtual AGM to Approve Accounts, Auditor Changes and Board Continuity
Aug 27, 2026
TARC Limited has convened its 10th Annual General Meeting for September 19, 2026, to be held via video conferencing and other audio-visual means, where shareholders will review and adopt the audited standalone and consolidated financial statements...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.