Tarmat Q2 FY27 Results: Margin Trend and Valuation Check

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This Tarmat Q2 results preview covers what the small infrastructure and oilfield services company has reported over the last five quarters, ahead of its results for the quarter ended September 30, 2026. Tarmat is a small-cap stock with a modest revenue and profit base, and its operating margins have stayed in the single digits throughout the period covered here. This Tarmat Q2 results outlook is based only on historical, already-reported figures.

Tarmat Q2 Results Date

The Tarmat Q2 results date for the September 2026 quarter has not been announced. Small-cap infrastructure and oilfield services companies typically report results in the same broad October to November window as the rest of the market, and Tarmat is expected to follow that pattern once its board meeting is scheduled. Readers following the Tarmat Q2 results should note that no forward estimate is implied here.

Tarmat Q2 Results Expectations

Tarmat Q2 results expectations for FY27 are best framed around the company's consistent operating profile rather than any numeric forecast, since no verified estimate is available for this stock. Across the five quarters reviewed here, Tarmat's operating margin has stayed within a narrow single-digit range of roughly 4.26% to 7.54%, and its net profit base has remained small in absolute terms, never exceeding about Rs 3.3 crore in any quarter. Whether this pattern of thin, steady margins continues into the September 2026 quarter is the main factual question, not a specific number to expect. The Tarmat Q2 results discussion above draws entirely on numbers the company has already disclosed.

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Previous Quarter (Jun 2026 / Q1 FY27) Performance

In the quarter ended June 2026, Tarmat reported revenue of Rs 29.59 crore, an operating profit of Rs 1.26 crore at a 4.26% operating margin, and a net profit of Rs 0.56 crore. This was a step down from the stronger Mar 2026 quarter, which had been the best quarter in the five-quarter window on both revenue and margin. For context on the Tarmat Q2 results, the preceding quarterly figures are all historical, not projected.

Q2 FY26 (Sep 2025) Base Quarter

The year-ago quarter, Sep 2025, saw revenue of Rs 22.67 crore, an operating margin of 4.98%, and a net profit of Rs 1.46 crore, higher than the Jun 2026 net profit figure. This will serve as the base quarter for year-on-year comparisons once the September 2026 results are announced. This section of the Tarmat Q2 results coverage relies solely on reported data, not analyst forecasts.

Recent Trend: Jun 2025 to Jun 2026

Revenue moved from Rs 24.94 crore in Jun 2025 to Rs 22.67 crore in Sep 2025, then climbed to Rs 27.31 crore in Dec 2025 and Rs 42.46 crore in Mar 2026, before easing to Rs 29.59 crore in Jun 2026. Operating margin stayed in single digits throughout: 4.49%, 4.98%, 6.37%, 7.54% and 4.26% across the five quarters in order. Net profit was similarly modest at every point, ranging from Rs 0.56 crore to Rs 3.27 crore. The Tarmat Q2 results trend described here reflects only what has already been reported to exchanges.

Key Factors

Tarmat's numbers reflect a small company with a thin operating margin profile throughout the period reviewed, and no exceptional items have been flagged in any of the five quarters. The absolute size of both revenue and profit is small, which means even modest rupee-crore changes in either can produce large percentage swings quarter to quarter. This is a structural feature of a small-cap infrastructure and services business rather than a one-off event. Any reader researching the Tarmat Q2 results should treat the figures above as historical reference points.

Valuation

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Tarmat trades at a price-to-earnings ratio of 21.18, with earnings per share of Rs 2.58. The price-to-book ratio is 0.73 against a book value of Rs 74.6 per share, return on equity is 3.64%, and the debt-to-equity ratio is a low 0.08. The stock's CMP is Rs 54.61, within a 52-week range of Rs 46.26 to Rs 73.9, close to its 50-day moving average of Rs 54.86 and its 200-day moving average of Rs 53.39. RSI reads 28.17. Market capitalisation is a small Rs 136 crore, and the company does not pay a dividend. As with the rest of this Tarmat Q2 results preview, the numbers cited are drawn from public filings.

What to Watch

For the Tarmat Q2 results in FY27, the main things to track are whether the operating margin stays within the single-digit band seen across the last five quarters, and whether revenue can move back toward the Mar 2026 peak of Rs 42.46 crore. Given the small absolute size of Tarmat's profit base, even small changes in order execution can move the reported numbers meaningfully. This Tarmat Q2 results outlook is based only on historical, already-reported figures.

Conclusion

Tarmat approaches its Q2 FY27 results as a small-cap company with consistently thin, single-digit operating margins and a modest profit base across the last five reported quarters. This summary reflects historical, reported data only and is not a projection of the September 2026 quarter, and readers should check the company's own announcement once the results date is confirmed. Readers following the Tarmat Q2 results should note that no forward estimate is implied here.

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This article is for informational purposes only and does not constitute investment advice or a recommendation to buy, sell or hold any security. Univest is a SEBI-registered research analyst, registration number INH000013776. Figures cited are sourced from the company's reported financials and public exchange data as available at the time of writing and may change. Please read all related documents carefully and consult a SEBI-registered advisor before making any investment decision. Investments in securities are subject to market risks.

When is the Tarmat Q2 results date for FY27?

Ans. The Tarmat Q2 results date for the quarter ended September 2026 has not been announced yet. Small-cap companies typically report results between October and November. The Tarmat Q2 results discussion above draws entirely on numbers the company has already disclosed.

What are the Tarmat Q2 results expectations for FY27?

Ans. There is no numeric estimate available. The key factor to watch is whether Tarmat's thin single-digit operating margin, seen consistently over the last five quarters, continues into the September 2026 quarter.

How did Tarmat perform in the quarter before Q2 FY27?

Ans. In Jun 2026, Tarmat reported revenue of Rs 29.59 crore, an operating margin of 4.26%, and a net profit of Rs 0.56 crore, a step down from a stronger Mar 2026 quarter.

What is Tarmat's current valuation?

Ans. Tarmat trades at a PE ratio of 21.18 and a price-to-book ratio of 0.73, with return on equity of 3.64% and a low debt-to-equity ratio of 0.08. Market capitalisation is around Rs 136 crore.