Integrated Filing — IndAS



General information about company
Scrip Code 532869
NSE Symbol TARMAT
MSEI Symbol NOTLISTED
ISIN INE924H01018
Name of company TARMAT LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-Apr-2024
Date of end of financial year 31-Mar-2025
Date of board meeting when results were approved 30-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 15-May-2025
Description of presentation currency INR (in Actuals)
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment INFRA
Start date and time of board meeting 30-May-2025   14:00:00
End date and time of board meeting 30-May-2025   16:45:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Whether the company has any related party? Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure? No
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public NA
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure. NA
Whether the company is a high value debt listed entity according to regulation 15 (1A)? No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company? Yes
Latest Date on which RPT policy is updated 2024-12-15
Indicate Company website link for updated RPT policy of the Company https://www.tarmat.in/assets/pdf/RELATED%20PARTY%20TRANSACTIONS%20POLICY.pdf
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? Yes
No. of times funds raised during the quarter 1
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? No
No defaults on Loans and no debt securites issued by the Company.



Financial Results Ind-AS
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
Part I Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1 Income
Revenue from operations 377923000 1012835000
Other income 7788000 10537000
Total income 385711000 1023372000
2 Expenses
(a) Cost of materials consumed 150787000 390765000
(b) Purchases of stock-in-trade 0 0
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0 0
(d) Employee benefit expense 25069000 92367000
(e) Finance costs 3190000 6980000
(f) Depreciation, depletion and amortisation expense 5733000 13328000
(f) Other Expenses
1 CONSTRUCTION EXPENSES 168453000 447354000
2 Other Expenses 26314000 54509000
Total other expenses 194767000 501863000
Total expenses 379546000 1005303000
3 Total profit before exceptional items and tax 6165000 18069000
4 Exceptional items 0 0
5 Total profit before tax 6165000 18069000
6 Tax expense
7 Current tax 0 0
8 Deferred tax 458000 -621000
9 Total tax expenses 458000 -621000
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0 0
11 Net Profit Loss for the period from continuing operations 5707000 18690000
12 Profit (loss) from discontinued operations before tax 0 0
13 Tax expense of discontinued operations 0 0
14 Net profit (loss) from discontinued operation after tax 0 0
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0 0
16 Total profit (loss) for period 5707000 18690000
17 Other comprehensive income net of taxes -778000 -489000
18 Total Comprehensive Income for the period 4929000 18201000
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 240642000 240642000
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve 1334323000
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 0.19 0.63
Diluted earnings (loss) per share from continuing operations 0.19 0.63
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 0.19 0.63
Diluted earnings (loss) per share from continuing and discontinued operations 0.19 0.63
24 Debt equity ratio 0 0
25 Debt service coverage ratio 0 0
26 Interest service coverage ratio 0 0
27 Disclosure of notes on financial results



Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities
Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-Apr-2024
Date of end of reporting period 31-Mar-2025
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Standalone
Assets
1 Non-current assets
Property, plant and equipment 197741000
Capital work-in-progress 0
Investment property 0
Goodwill 1463000
Other intangible assets 145409000
Intangible assets under development 0
Biological assets other than bearer plants 0
Investments accounted for using equity method 0
Non-current financial assets
Non-current investments 0
Trade receivables, non-current 0
Loans, non-current 0
Other non-current financial assets 95618000
Total non-current financial assets 95618000
Deferred tax assets (net)
Other non-current assets
Total non-current assets 440231000
2 Current assets
Inventories 428390000
Current financial asset
Current investments 0
Trade receivables, current 217243000
Cash and cash equivalents 98266000
Bank balance other than cash and cash equivalents 0
Loans, current 984960000
Other current financial assets 0
Total current financial assets 1300469000
Current tax assets (net) 0
Other current assets 0
Total current assets 1728859000
3 Non-current assets classified as held for sale 0
4 Regulatory deferral account debit balances and related deferred tax Assets 0
Total assets 2169090000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 240642000
Other equity 1492048000
Total equity attributable to owners of parent 1732690000
Non controlling interest
Total equity 1732690000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 14296000
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0
Total Trade payable 0
Other non-current financial liabilities 0
Total non-current financial liabilities 14296000
Provisions, non-current 6036000
Deferred tax liabilities (net) 1373000
Deferred government grants, Non-current 0
Other non-current liabilities 0
Total non-current liabilities 21705000
Current liabilities
Current financial liabilities
Borrowings, current 81079000
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 0
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 123410000
Total Trade payable 123410000
Other current financial liabilities 209717000
Total current financial liabilities 414206000
Other current liabilities 0
Provisions, current 489000
Current tax liabilities (Net) 0
Deferred government grants, Current 0
Total current liabilities 414695000
3 Liabilities directly associated with assets in disposal group classified as held for sale 0
4 Regulatory deferral account credit balances and related deferred tax liability 0
Total liabilities 436400000
Total equity and liabilites 2169090000
Disclosure of notes on assets and liabilities



Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-Jan-2025 01-Apr-2024
Date of end of reporting period 31-Mar-2025 31-Mar-2025
Whether accounts are audited or unaudited Audited Audited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
Total Amount of items that will not be reclassified to profit and loss
2 Income tax relating to items that will not be reclassified to profit or loss 778000 489000
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss
5 Total Other comprehensive income -778000 -489000



Cash flow statement, indirect
Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-Apr-2024
B Date of end of reporting period 31-Mar-2025
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Standalone
Part I Blue color marked fields are non-mandatory.
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 18069000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 6980000
Adjustments for decrease (increase) in inventories 23535000
Adjustments for decrease (increase) in trade receivables, current -87058000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets -25386000
Adjustments for decrease (increase) in other non-current assets 0
Adjustments for other financial assets, non-current 0
Adjustments for other financial assets, current 0
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current 0
Adjustments for increase (decrease) in trade payables, non-current -49513000
Adjustments for increase (decrease) in other current liabilities 0
Adjustments for increase (decrease) in other non-current liabilities 0
Adjustments for depreciation and amortisation expense 13328000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for provisions, current 0
Adjustments for provisions, non-current 813000
Adjustments for other financial liabilities, current -2658000
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains 0
Adjustments for dividend income 0
Adjustments for interest income 0
Adjustments for share-based payments 0
Adjustments for fair value losses (gains) 0
Adjustments for undistributed profits of associates 0
Other adjustments for which cash effects are investing or financing cash flow 0
Other adjustments to reconcile profit (loss) 0
Other adjustments for non-cash items -4712000
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0
Total adjustments for reconcile profit (loss) -124671000
Net cash flows from (used in) operations -106602000
Dividends received 0
Interest paid 0
Interest received 0
Income taxes paid (refund) -14967000
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities -91635000
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0
Cash flows used in obtaining control of subsidiaries or other businesses 0
Other cash receipts from sales of equity or debt instruments of other entities 0
Other cash payments to acquire equity or debt instruments of other entities 0
Other cash receipts from sales of interests in joint ventures 0
Other cash payments to acquire interests in joint ventures 0
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0
Proceeds from sales of property, plant and equipment 5500000
Purchase of property, plant and equipment 59476000
Proceeds from sales of investment property 0
Purchase of investment property 217700000
Proceeds from sales of intangible assets 0
Purchase of intangible assets 0
Proceeds from sales of intangible assets under development 0
Purchase of intangible assets under development 0
Proceeds from sales of goodwill 0
Purchase of goodwill 0
Proceeds from biological assets other than bearer plants 0
Purchase of biological assets other than bearer plants 0
Proceeds from government grants 0
Proceeds from sales of other long-term assets 0
Purchase of other long-term assets 0
Cash advances and loans made to other parties 0
Cash receipts from repayment of advances and loans made to other parties 0
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0
Dividends received 0
Interest received 2658000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) investing activities -269018000
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0
Payments from changes in ownership interests in subsidiaries 0
Proceeds from issuing shares 0
Proceeds from issuing other equity instruments 418125000
Payments to acquire or redeem entity's shares 0
Payments of other equity instruments 0
Proceeds from exercise of stock options 0
Proceeds from issuing debentures notes bonds etc 0
Proceeds from borrowings 0
Repayments of borrowings 9291000
Payments of lease liabilities 0
Dividends paid 0
Interest paid 6980000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) financing activities 401854000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 41201000
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0
Net increase (decrease) in cash and cash equivalents 41201000
Cash and cash equivalents cash flow statement at beginning of period 57065000
Cash and cash equivalents cash flow statement at end of period 98266000





Details of Impact of Audit Qualification
Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Auditor's opinion Qualified opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 HEGDE & ASSOCIATES Yes 31-Aug-2025


Financial details
Sr. Particulars Audited Figures (as reported before adjusting for qualifications) Adjusted Figures (audited figures after adjusting for qualifications)
1 Turnover / Total income 1012835000 1012835000
2 Total Expenditure 1005303000 1005303000
3 Net Profit/(Loss) 18069000 18069000
4 Earnings Per Share 0.63 0.63
5 Total Assets 2169090000 2169090000
6 Total Liabilities 436400000 436400000
7 Net Worth 1732690000 1732690000


Audit qualification
Sr. Details of Audit Qualification Type of Audit Qualification Frequency of qualification For Audit Qualification(s) where the impact is quantified by the auditor For Audit Qualification(s) where the impact is not quantified by the auditor
Management's Views (i) Management's estimation on the impact of audit qualification (ii) If management is unable to estimate the impact, reasons for the same Auditors' Comments on (i) or (ii) above
1 Textual Information(1) Qualified opinion Repetitive Textual Information(2) Textual Information(3) Textual Information(4) Textual Information(5)


Text Block
Textual Information(1) QUALIFICATION ON NON - AVAILABILITY OF FINANCIAL RESULTS OF JOINT VENTURE
Textual Information(2) IMPACT NOT QUANTIFED BY THE AUDITOR
Textual Information(3) N.A
Textual Information(4) The company has an investment of Rs 7.83 crs in Joint Venture Backbone Tarmat Alfaraa. Alfaraa was the company which has managing the daily affairs of the Joint Venture. Alfaraa has gone into liquidation. The liquidator is in charge of the company now & hence the Joint Venture as well. Since the liquidator is yet to finalize the accounts, we are not in position to consider and consolidate the Joint Venture financials. The project in the JV is completed. The company is unable to determine the fair value of Companys investment in Joint Venture as at year end and consequent impact thereof on the financial results. However, the management believes that will not have material impact on the standalone financial results for the quarter and year ended 31st March 2025. The management is reasonably optimistic that we shall be able to recover our value of Investment in the JV. The management is optimistic that the value of investment in Joint Venture is fully recoverable.company is unable to determine the fair value of Companys Investment in Backbone-Tarmat- Alfaraa ( JV) nas at 31st March 2025, in absence of sufficient and appropriate evidence, we are unable to comment on the carrying value of above investment amounting to Rs 783.02 Lakhs and the consequent impact thereof
Textual Information(5) As described in Note no. 5 the statement, due to n on-availability of financial information of the Joint venture the company is unable to determine the fair value of Companys Investment in Backbone-Tarmat- Alfaraa ( JV) nas at 31st March 2025, in absence of sufficient and appropriate evidence, we are unable to comment on the carrying value of above investment amounting to Rs 783.02 Lakhs and the consequent impact thereof. n


Signatories detail
Name of CEO / Managing director DILIP VARGHESE
Name of CFO SHIVATOSH CHAKRABORTY
Name of audit committee chairman DR K M GODBOLE
Name of statutory auditor MANOJ SHETTY
Name of other signatory, if any, with designation
Place MUMBAI
Date 30-May-2025


Statement on Deviation or Variation for proceeds of Public Issue, Rights Issue, Preferential Issue, Qualified Institutions Placement Etc. (1)
Mode of Fund Raising Preferential Issues
Description of mode of fund raising (Applicable in case of others is selected)
Date of Raising Funds 09-Jan-2025
Amount Raised 1781250000000
Report filed for Quarter ended 31-Mar-2025
Monitoring Agency Not Applicable
Monitoring Agency Name, if applicable
Is there a Deviation / Variation in use of funds raised No
If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders
If Yes, Date of shareholder Approval
Explanation for the Deviation / Variation NA
Comments of the Audit Committee after review NIL
Comments of the auditors, if any NIL
Sr. Original Object Modified Object, if any Original Allocation Modified allocation, if any Funds Utilised Amount of Deviation/Variation for the quarter according to applicable object Remarks if any


Signatory Details
Name of signatory S. Chakraborty
Designation of person Company Secretary and Compliance Officer
Place Mumbai
Date 29-May-2025




Format for Disclosure of Related Party Transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter)
Sr No. Additional disclosure of related party transactions - applicable only in case the related party transaction relates to loans, inter-corporate deposits, advances or investments made or given by the listed entity/subsidiary. These details need to be disclosed only once, during the reporting period when such transaction was undertaken.
Details of the party (listed entity/subsidiary) entering into the transaction Details of the counterparty Type of related party transaction Details of other related party transaction Value of the related party transaction as approved by the audit committee Remarks on approval by audit committee Value of the related party transaction ratified by the audit committee Date of Audit Committee Meeting where the ratification was approved Value of transaction during the reporting period In case monies are due to either party as a result of the transaction In case any financial indebtedness is incurred to make or give loans, inter-corporate deposits, advances or investments Details of the loans, inter-corporate deposits, advances or investments Notes
Name PAN Name PAN Relationship of the counterparty with the listed entity or its subsidiary Opening balance Closing balance Nature of indebtedness (loan/ issuance of debt/ any other etc.) Details of other indebtedness Cost Tenure Nature (loan/ advance/ intercorporate deposit/ investment ) Interest Rate (%) Tenure Secured/ unsecured Purpose for which the funds will be utilised by the ultimate recipient of funds (endusage)
1 TARMAT LIMITED JERRY VARGHESE KEY MANAGERIAL Remuneration APPROVED 3000000 0 0
2 TARMAT LIMITED DILIP VARGHESE KEY MANAGERIAL Remuneration APPROVED 3000000 0 0
3 TARMAT LIMITED AMIT SHAH KEY MANAGERIAL Remuneration APPROVED 3000000 0 0
4 TARMAT LIMITED SHIVATOSH CHAKRABORTY KEY MANAGERIAL Remuneration APPROVED 1500000 0 0
Total value of transaction during the reporting period 10500000