TARC Ltd
TARC Ltd. (The Anant Raj Corporation) started out as a construction and contracting company and evolved to become one of the largest real estate development companies and land bank holders in the New Delhi Metropolitan Area. The company‘s key developments are across verticals like Residential, Hospitality, Commercial and Retail projects.
The name of the company has been changed from Anant Raj Global Ltd. to TARC Ltd. in April 2021. [1]
- Market Cap ₹ 7,411 Cr.
- Current Price ₹ 251
- High / Low ₹ 260 / 84.2
- Stock P/E 397
- Book Value ₹ 46.3
- Dividend Yield 0.00 %
- ROCE 2.66 %
- ROE 1.00 %
- Face Value ₹ 2.00
Pros
- Company has delivered good profit growth of 324% CAGR over last 5 years
Cons
- Stock is trading at 5.42 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Company has a low return on equity of -2.88% over last 3 years.
- Company might be capitalizing the interest cost
- Earnings include an other income of Rs.112 Cr.
- Company has high debtors of 2,927 days.
- Working capital days have increased from 4,983 days to 10,781 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Realty Industry: Construction
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|
0 | 0 | 107 | 175 | 436 | 197 | 60 | 42 | |
0 | 0 | 99 | 164 | 539 | 190 | 100 | 78 | |
Operating Profit | 0 | -0 | 9 | 11 | -103 | 7 | -39 | -36 |
OPM % | 8% | 6% | -24% | 4% | -65% | -85% | ||
0 | 0 | 11 | 5 | 25 | 123 | 117 | 112 | |
Interest | 0 | 0 | 14 | 8 | 52 | 117 | 58 | 49 |
Depreciation | 0 | 0 | 2 | 2 | 2 | 2 | 3 | 3 |
Profit before tax | 0 | -0 | 3 | 5 | -132 | 12 | 17 | 24 |
Tax % | 0% | -65% | 7% | 11% | -21% | 19% | ||
0 | -0 | 4 | 5 | -147 | 14 | 14 | 19 | |
EPS in Rs | 0.17 | -4.97 | 0.49 | 0.46 | 0.63 | |||
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | -30% |
TTM: | -80% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 324% |
3 Years: | 41% |
TTM: | 25% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 77% |
1 Year: | 165% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | -2% |
3 Years: | -3% |
Last Year: | 1% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
Equity Capital | 0 | 0 | 59 | 59 | 59 | 59 | 59 |
Reserves | -0 | -0 | 1,421 | 1,426 | 1,279 | 1,294 | 1,307 |
0 | 0 | 1,069 | 1,065 | 861 | 1,447 | 1,454 | |
0 | 0 | 357 | 370 | 331 | 166 | 226 | |
Total Liabilities | 0 | 0 | 2,905 | 2,920 | 2,531 | 2,965 | 3,045 |
0 | 0 | 810 | 827 | 26 | 24 | 27 | |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | 0 | 0 | 566 | 558 | 558 | 558 | 558 |
0 | 0 | 1,529 | 1,535 | 1,946 | 2,383 | 2,460 | |
Total Assets | 0 | 0 | 2,905 | 2,920 | 2,531 | 2,965 | 3,045 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
0 | -0 | 70 | 158 | -50 | -27 | -8 | |
0 | 0 | 56 | 41 | 363 | -386 | 105 | |
0 | 0 | -132 | -196 | -307 | 477 | -165 | |
Net Cash Flow | 0 | -0 | -5 | 3 | 6 | 64 | -67 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
Debtor Days | 0 | 28 | 410 | 906 | 2,927 | ||
Inventory Days | |||||||
Days Payable | |||||||
Cash Conversion Cycle | 0 | 28 | 410 | 906 | 2,927 | ||
Working Capital Days | 1,343 | 1,305 | 988 | 3,180 | 10,781 | ||
ROCE % | -29% | 1% | 1% | -3% | 5% | 3% |
Business Services
The company is engaged in the development of luxurious residential projects in New Delhi and Gurugram. [1] TARC is a leading brand in the luxury residential sector. [2]