Arthneeti

Art Nirman Q2 FY27 Share Price & Earnings Call Analysis

₹36.96-0.99% today
Market cap
₹92 Cr
P/E
236.51
ROE
1.40%
PEG
3.48
Price to sales
2.73
Debt to equity
1.96
52W high / low
₹56.3 / ₹29.4
Sales growth (5Y)
-16.34%
EBITDA margin
14.48%
Net profit margin
1.56%
Promoter holding
73.75%
Sales (last year)
₹34 Cr

Potential multibaggers · Q2 FY27

Potential multibaggers in Realty
on management's own guidance

  1. SobhaGood growth
    2
  2. Strong growth
    1
  3. Man InfraGood growth
    3
See all potential multibaggersWhere does Art Nirman Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Realty companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Flat₹11,446 Cr39.1
2Sobha20–40%Up 2%+₹12,032 Cr63.0
3Man Infra20–40%Up 2%+₹4,311 Cr19.2
420–40%Up 2%+₹1,091 Cr11.9
520–40%Flat₹59,882 Cr22.6
620–40%Flat₹47,233 Cr34.6

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Financials of Art Nirman Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Art Nirman Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +73.75%73.75%73.75%73.75%73.75%73.75%73.75%73.75%73.75%73.75%73.75%73.75%
Public +26.25%26.25%26.25%26.25%26.25%26.25%26.25%26.25%26.25%26.25%26.25%26.25%
No. of Shareholders2,9592,6732,6732,8613,4463,2853,3783,2603,1863,1183,0843,038

Pros & Cons

Art Nirman Ltd

Key positives and risks surfaced from the company insights section.

Pros
  • 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 3.41% over last 3 years.
  • Company might be capitalizing the interest cost
  • Company has high debtors of 212 days.
  • Working capital days have increased from 689 days to 1,098 days
Raw Insights
  • 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 3.41% over last 3 years.
  • Company might be capitalizing the interest cost
  • Company has high debtors of 212 days.
  • Working capital days have increased from 689 days to 1,098 days

Financials of Art Nirman Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +11.953.7513.385.508.464.508.921.506.752.5022.482.114.28
YoY Sales growth+77.83%+267.65%+14.55%+5.36%-29.21%+20.00%-33.33%-72.73%-20.21%-44.44%+152.02%+40.67%-36.59%
Expenses +11.143.5212.594.997.834.187.101.525.402.3718.982.194.36
Operating Profit0.810.230.790.510.630.321.82-0.021.350.133.50-0.08-0.08
OPM %6.78%6.13%5.90%9.27%7.45%7.11%20.40%-1.33%20.00%5.20%15.57%-3.79%-1.87%
Other Income +0.030.020.120.080.090.140.090.120.050.090.100.110.12
Interest0.000.000.560.020.020.021.070.030.840.043.280.040.03
Depreciation0.170.170.160.160.160.160.090.140.120.110.100.150.09
Profit before tax0.670.080.190.410.540.280.75-0.070.440.070.22-0.16-0.08
Tax %0.00%0.00%-15.79%0.00%0.00%0.00%-4.00%0.00%0.00%0.00%59.09%25.00%0.00%
Net Profit +0.670.080.220.410.530.280.77-0.070.430.070.09-0.20-0.08
EPS in Rs0.270.030.090.160.210.110.31-0.030.170.030.04-0.08-0.03

Financials of Art Nirman Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +0.0024.3125.4634.5118.8962.1281.1336.8319.7234.2927.3933.2431.37
Sales growth+4.73%+35.55%-45.26%+228.85%+30.60%-54.60%-46.46%+73.88%-20.12%+21.36%+44.76%
Expenses +-0.9623.0424.2827.028.9153.7778.5446.7418.7532.2524.1128.2827.90
Operating Profit0.961.271.187.499.988.352.59-9.910.972.043.284.963.47
OPM %5.22%4.63%21.70%52.83%13.44%3.19%-26.91%4.92%5.95%11.98%14.92%11.06%
Other Income +0.010.020.260.470.620.110.140.060.030.350.400.360.42
Interest0.890.470.415.547.996.471.990.450.210.571.134.193.39
Depreciation0.080.090.340.820.760.750.730.710.710.680.580.480.45
Profit before tax0.000.730.691.601.851.240.01-11.010.081.141.970.650.05
Tax %30.14%47.83%30.00%29.19%33.87%-100.00%-0.09%-37.50%-2.63%-1.52%20.00%
Net Profit +0.020.510.371.121.320.820.02-11.000.111.181.990.52-0.12
EPS in Rs20.001.280.491.471.080.330.01-4.410.040.470.800.21-0.04
Dividend Payout %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Financials of Art Nirman Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital0.014.007.607.6012.1824.9624.9624.9624.9624.9624.9624.9624.96
Reserves0.030.516.287.4016.6520.0220.049.059.1610.3412.3312.2812.05
Borrowings +12.152.1417.8562.1750.1333.764.950.232.532.9218.0672.96106.25
Other Liabilities +11.9311.5243.0633.6975.4459.3813.2610.7415.2314.9613.4632.1713.54
Total Liabilities24.1218.1774.79110.86154.40138.1263.2144.9851.8853.1868.81142.37156.80
Fixed Assets +0.610.719.729.168.627.877.186.485.785.114.564.113.88
CWIP0.000.000.000.000.000.000.000.000.000.000.000.000.00
Investments0.000.000.000.000.300.320.340.320.000.000.000.000.00
Other Assets +23.5117.4665.07101.70145.48129.9355.6938.1846.1048.0764.25138.26152.92
Total Assets24.1218.1774.79110.86154.40138.1263.2144.9851.8853.1868.81142.37156.80

Financials of Art Nirman Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +0.131.76-41.40-13.8023.44-7.2119.819.30-7.301.59-13.41-47.30
Cash from Investing Activity +-0.01-0.21-9.100.280.460.360.19-0.060.25-1.13-0.42-0.92
Cash from Financing Activity +0.06-1.3652.6812.77-23.476.35-20.55-5.172.09-0.1813.4550.72
Net Cash Flow0.180.202.18-0.750.43-0.50-0.564.06-4.960.28-0.382.50
Free Cash Flow0.111.55-50.75-14.0623.30-7.2219.789.29-7.311.62-13.44-47.33
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit14%155%-3,488%-179%240%-82%764%-94%-753%78%-409%-954%

Financials of Art Nirman Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days0.00109.10200.74470.50122.8063.57177.99425.9035.3433.18212.48
Inventory Days342.641,255.582,907.501,108.74168.7182.59581.00356.24
Days Payable21.05215.31380.83104.9917.7815.86272.84125.95
Cash Conversion Cycle321.591,149.362,727.41470.501,126.55214.50244.73734.05265.6333.18212.48
Working Capital Days129.27672.66605.72935.20371.35206.46269.66641.16322.32646.181,097.85
ROCE %9.72%12.74%5.73%13.11%12.60%9.78%3.11%-25.09%0.82%4.57%6.63%5.85%

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