TARC Limited (TARC.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-6444.1%

-₹7,074.93

vs ₹111.52 price

Levered DCF

-₹3,617.03

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

D+

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2018
P/E	24.05×	-16.49×	-55.23×	49.42×	-4.64×	138.33×	12.25×	-220,499.99×
P/B	0.43×	3.66×	3.34×	0.74×	0.81×	0.55×	0.42×	0×
P/S	0.68×	113.18×	37.92×	5.45×	11.31×	4.49×	4.74×	0×
EV / EBITDA	29.32×	-44.76×	99.57×	13.83×	-15.36×	1,065.86×	22.41×	0×
Gross margin	57.9%	-28.7%	63.0%	44.1%	-193.3%	13.6%	34.2%	0.0%
Operating margin	10.0%	-421.4%	50.4%	86.1%	-173.3%	-2.8%	12.5%	0.0%
Net margin	2.8%	-686.3%	-68.7%	11.0%	-243.8%	3.2%	38.7%	0.0%
Current ratio	0.29×	1.09×	1.31×	2.31×	0.8×	1.19×	1.19×	0×
Debt / equity	1.78×	1.87×	1.09×	1.03×	0.89×	0.84×	0.83×	0×
Interest coverage	1.28×	-1.33×	0.42×	1.36×	-2.22×	-0.44×	1.18×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2018
Return on equity	1.8%	-22.2%	-6.0%	1.5%	-17.5%	0.4%	3.4%	0.0%
Return on invested capital	1.5%	-4.5%	1.9%	2.8%	-6.3%	-0.2%	0.5%	0.0%
Return on assets	0.4%	-5.5%	-2.2%	0.6%	-7.8%	0.2%	1.6%	0.0%
Free cash flow yield	-45.3%	0.1%	2.8%	-8.7%	-7.5%	14.7%	10.2%	0.0%
Earnings yield	4.2%	-6.1%	-1.8%	2.0%	-21.5%	0.7%	8.2%	-0.0%
Enterprise value	₹22.7B	₹57.2B	₹55.9B	₹22.9B	₹22.4B	₹21.7B	₹19.5B	₹0
Net debt / EBITDA	23.4×	-14.92×	23.77×	7.74×	-7.96×	644.54×	14.92×	0×
Cash conversion cycle (days)	-96	16,262	11,977	3,832	1,382	1,795	3,246	0