Tarmat (BOM:532869) E10: ₹1.50 (As of Jun. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BOM:532869 Tarmat Ltd BOM:532869
62 GF Score
Price ₹58.41
GF Value ₹82.53
Valuation Modestly Undervalued
! 5 Warning Signs
View Full Analysis

What is Tarmat E10?

Tarmat BOM:532869 -2.49% 62 E10 is ₹1.50 as of Jun. 2026. GuruFocus rates BOM:532869 with a GF Score™ of 62/100 and a GF Value™ of ₹82.53 (Modestly Undervalued). The stock has 5 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

Tarmat's adjusted earnings per share data for the three months ended in Jun. 2026 was ₹0.620. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is ₹1.50 for the trailing ten years ended in Jun. 2026.

Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

During the past 13 years, the highest 3-Year average E10 Growth Rate of Tarmat was 29.40% per year. The lowest was 29.40% per year. And the median was 29.40% per year.

As of today (2026-08-29), Tarmat's current stock price is ₹58.41. Tarmat's E10 for the quarter that ended in Jun. 2026 was ₹1.50. Tarmat's Shiller PE Ratio of today is 38.94.

During the past 13 years, the highest Shiller PE Ratio of Tarmat was 115.83. The lowest was 32.11. And the median was 106.22.


Tarmat  (BOM:532869) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Tarmat's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=58.41/1.50
=38.94

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Shiller P/E Ratio of Tarmat was 115.83. The lowest was 32.11. And the median was 106.22.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


Tarmat E10 Related Terms


Tarmat E10 Historical Data

* Premium members only.

The historical data trend for Tarmat's E10 can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Tarmat E10 Chart

Tarmat Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only -9.79 -8.93 -6.85 -3.45 0.48

Tarmat Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
E10 Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.90 -0.80 -0.19 0.48 1.50

BOM:532869 vs PWR, FIX, EME: E10 Comparison

For the Engineering & Construction subindustry, Tarmat's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Tarmat Shiller PE Ratio vs Construction Industry

For the Construction industry and Industrials sector, Tarmat's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Tarmat's Shiller PE Ratio falls into.


BOM:532869
62GF Score
Tarmat Ltd BOM:532869
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Tarmat E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Tarmat's adjusted earnings per share data for the three months ended in Jun. 2026 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=0.62/167.3573*167.3573
=0.620

Current CPI (Jun. 2026) = 167.3573.

Tarmat Quarterly Data

per share eps CPI Adj_EPS
201503 -4.870 97.163 -8.388
201506 -5.250 99.841 -8.800
201509 0.310 101.753 0.510
201512 3.750 102.901 6.099
201603 1.930 102.518 3.151
201606 -1.450 105.961 -2.290
201703 0.000 105.196 0.000
201803 0.000 109.786 0.000
201809 0.100 115.142 0.145
201812 0.100 115.142 0.145
201903 0.410 118.202 0.581
201906 0.100 120.880 0.138
201909 0.380 123.175 0.516
201912 0.780 126.235 1.034
202003 3.970 124.705 5.328
202006 0.730 127.000 0.962
202009 0.660 130.118 0.849
202012 0.970 130.889 1.240
202103 1.550 131.771 1.969
202106 1.050 134.084 1.311
202109 0.690 135.847 0.850
202112 0.650 138.161 0.787
202203 0.882 138.822 1.063
202206 0.840 142.347 0.988
202209 0.040 144.661 0.046
202212 2.180 145.763 2.503
202303 0.124 146.865 0.141
202306 0.370 150.280 0.412
202309 0.130 151.492 0.144
202312 0.050 152.924 0.055
202403 -1.097 153.035 -1.200
202406 0.270 155.789 0.290
202409 0.140 157.882 0.148
202412 0.120 158.323 0.127
202503 0.190 157.552 0.202
202506 0.300 159.755 0.314
202509 0.610 162.289 0.629
202512 0.460 163.281 0.471
202603 1.180 164.272 1.202
202606 0.620 167.357 0.620

Add all the adjusted EPS together and divide 10 will get our e10.

Frequently Asked Questions Learn more about E10 →
What does a E10 of ₹1.50 mean?
Tarmat (BOM:532869) has a E10 of ₹1.50 as of Jun. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Tarmat and its competitors.
Is Tarmat's E10 too high?
Tarmat's current E10 is ₹1.50. Overall, Tarmat has a GF Score™ of 62/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Tarmat's E10 compare to PWR and FIX?
Tarmat's E10 of ₹1.50 can be compared against companies in the Construction industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good E10 for a Construction company?
A good E10 depends on the Construction industry context. However, E10 should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high E10 mean?
A high E10 can signal that a stock is expensive relative to its fundamentals. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Tarmat and its competitors. Tarmat's current E10 is ₹1.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tarmat stock overvalued right now?
Based on GuruFocus' analysis, Tarmat (BOM:532869) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹82.53, compared to a current price of ₹58.41 — trading 29.2% below its estimated fair value. The current E10 is ₹1.50. Tarmat's overall GF Score™ is 62/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is E10 calculated?
E10 is calculated from a company's financial statements. For Tarmat (BOM:532869), the current E10 is ₹1.50 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Tarmat (BOM:532869) Overvalued in 2026?

Based on GuruFocus' analysis, Tarmat stock appears to be undervalued. The current stock price of ₹58.41 is trading 29.2% below its estimated GF Value™ of ₹82.53. GuruFocus considers Tarmat to be Modestly Undervalued.

Key valuation signals for BOM:532869:

  • E10: ₹1.50
  • GF Value™: ₹82.53 vs. price of ₹58.41 (29.2% below fair value)
  • GF Score™: 62/100 with 5 warning signs

No single metric tells the full story. See the BOM:532869 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Tarmat Business Description

Other Exchanges TARMAT:India
Address General A. K. Vaidya Marg, Off. Film City Road, Near Wageshwari Mandir, Malad East, Mumbai, MH, IND, 400097
Tarmat Ltd is an infrastructure construction company that is involved in the construction of airports, highways, infrastructure, railways, and real estate. The company's main business activities include the construction and maintenance of roads, rails, bridges, tunnels, and pipelines. Additionally, the company is focused on real estate development and construction activities related to railways. The company's operations are conducted in India.
62GF Score

Get the complete analysis for BOM:532869

E10 is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹58.41
Price
₹82.53
GF Value