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Prices as of 8 Oct 2026 close · Not investment advice

Art Nirman Limited

NSE: ARTNIRMANResidential, Commercial Projects

Share price

₹38.00

-5.31% close of 8 Oct 2026

Market cap ₹95 CrP/E 243.2

Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 7 Oct 2026, the close above is 8 Oct 2026.

Business score

How strong the business is, in one number. The parts behind it are in Pro.

39

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹95 Cr

P/E ratio

243.2

P/B ratio

2.6

ROCE

5.8%

ROE

1.4%

Dividend yield

0.0%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹64.2752-week low ₹29.39

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Our sales figures for this company step up at Mar 2026 and we hold nothing that says why, so we cannot honestly quote a growth rate across it.

Whether it grew faster than its sector

Our sales figures for this company step up at Mar 2026 and we hold nothing that says why, so there is no honest growth rate of its own to set against its sector.

Room to re-rate, or risk of de-rating

At 243.2× earnings it costs 10.2× the market, which pays 23.9× across 2199 companies we can price. Its own industry sits at 23.4×, across 3 companies. It is against its own five-year median of 108.4×, the 89th percentile of its own range.

Whether growth justifies the valuation

Priced at 3.6 times its growth rate, on earnings growth of 68%.

Profit growthPrice per ₹1 profitPer 1% growth
Art Nirman Limited — this one68%/yr243.2×₹3.6
Max Estates Limited-12%/yr——
Embassy Developments Limited———
Mahindra Lifespace Developers Limited107%/yr23.4×—
GANESH HOUSING LIMITED46%/yr21.7×₹0.47
Kalpataru Limited35%/yr43.6×₹1.2

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Residential, Commercial Projects), it ranks 54 of 86 on returns, 76 of 80 on growth, 45 of 86 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

No durable advantage shows in the numbers: it earns 5.8% on capital, ahead of 37% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

No — Over the last five years the business itself consumed ₹57 crore of cash before any plant spend, funded mostly borrowed — borrowings rose from ₹0 crore to ₹73 crore. It has not made a profit over 12 years.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

5 of 9 checks clear · 56%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Announced 5 Sep 2026 · Standalone · Unaudited

Revenue

₹2 Cr

Revenue vs last year

+41.0%

Revenue vs last quarter

-90.6%

Net profit

-₹0 Cr

Profit vs last quarter

-316.8%

Net margin

-9.2%

EPS

₹-0.08

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹95 Cr
Prev close
₹38.00
52w High
₹67.0
52w Low
₹29.4
Enterprise value
₹168 Cr
Beta
0.9
Price CAGR 1y
-16.0%
Price CAGR 3y
-8.0%
Price CAGR 5y
6.0%
Price CAGR 10y
—

Ratios

Return on assets
0.4%
PEG ratio
3.6
P/E ratio
243.2
P/B ratio
2.6
EV / EBITDA
33.8
Industry P/E
23.4
ROCE
5.8%
ROCE 5y average
-1.4%
ROE
1.4%
Debt / Equity
2.0
Interest coverage
1.2
Dividend yield
0.0%
ROE 3y average
3.0%
ROE last year
1.0%

Annual P&L

Annual revenue
₹33 Cr
Annual profit
₹1 Cr
Operating margin
14.9%
Net profit margin
1.6%
EBITDA margin
14.9%
Sales growth 3y
19.0%
Sales growth 5y
-16.3%
Profit growth 3y
68.0%
Profit growth 5y
92.0%
EPS
₹0.2
Sales growth TTM
45.0%
Profit growth TTM
-74.0%
Dividend payout
0.0%

Quarter P&L

Sales latest quarter
₹2 Cr
Profit latest quarter
-₹0 Cr
YoY quarterly sales growth
40.7%
YoY quarterly profit growth
—
OPM latest quarter
-3.8%

Balance Sheet

Book Value
₹14.9
Face Value
₹10.0
Total debt
₹73 Cr
Total cash
₹7 Cr
Borrowings
₹73 Cr
Reserves / Equity
0.5

Cash Flow

Operating cash flow
-₹47 Cr
Free cash flow
-₹47 Cr
FCF yield
-54.3%
Net cash flow
₹3 Cr

Shareholding

Promoter holding
73.8%
FII holding
—
DII holding
—
Public holding
26.3%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
DLF656.0037.81,62,5151.22793.94.11,280.3-52.96.3
Lodha Developers1,109.4026.81,10,5550.381,373.1103.44,996.743.116.4
Phoenix Mills1,845.5051.066,1680.14394.523.31,074.912.812.4
Oberoi Realty1,736.0023.762,6850.46543.529.01,300.931.717.3
Prestige Estates1,429.3054.361,8850.14271.4-19.42,675.115.910.4
Godrej Propert.1,580.2029.547,7450.63349.4-41.7506.216.57.6
Anant Raj612.1538.122,0330.16149.218.9631.46.612.1
Art Nirman Ltd40.13256.81000.00-0.2-185.72.140.75.8
Median138.9524.19620.008.526.690.714.37.6

Competes with: Anant Raj Limited, Brigade Enterprises Limited, DLF Limited, Godrej Properties, Lodha Developers Limited, Oberoi Realty, Prestige Estates Projects, The Phoenix Mills Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Standalone · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales5.22123.75135.508.464.508.921.506.752.50222.11
Expenses5.01113.52134.997.834.187.101.525.402.37192.19
Material Cost4.844.692.973.373.416.48
Change in Inventories-6.53-8.52-6.16-12-6.90-12
Purchases of Stock-in-Trade000000
Employee Cost0.200.180.190.250.270.29
Other Expenses8.605.178.4210227.88
Operating Profit0.210.810.230.790.510.630.321.82-0.021.350.133.50-0.08
OPM %4.026.786.135.909.277.457.1120-1.33205.2016-3.79
Other Income0.160.030.020.120.080.090.140.090.120.050.090.100.11
Exceptional items (within Other Income)000000
Interest0.01000.560.020.020.021.070.030.840.043.280.04
Depreciation0.170.170.170.160.160.160.160.090.140.120.110.100.15
Profit before tax0.190.670.080.190.410.540.280.75-0.070.440.070.22-0.16
Tax %000-16000-40005925
Net Profit0.190.670.080.220.410.530.280.77-0.070.430.070.09-0.20
EPS in Rs0.080.270.030.090.160.210.110.31-0.030.170.030.04-0.08
Diluted EPS in Rs0.31-0.030.170.030.04-0.08

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Standalone · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales0242535196281372034273334
Expenses-0.962324278.915479471932242829
Material Cost2114
Change in Inventories-23-33
Purchases of Stock-in-Trade00
Employee Cost0.710.89
Other Expenses2546
Operating Profit0.961.271.187.499.988.352.59-9.910.972.043.284.964.90
OPM %5.224.632253133.19-274.925.95121514
Other Income0.010.020.260.470.620.110.140.060.030.350.400.360.35
Exceptional items (within Other Income)00
Interest0.890.470.415.547.996.471.990.450.210.571.134.194.20
Depreciation0.080.090.340.820.760.750.730.710.710.680.580.480.48
Profit before tax00.730.691.601.851.240.01-110.081.141.970.650.57
Tax %3048302934-100-0.09-38-2.63-1.5220
Net Profit0.020.510.371.121.320.820.02-110.111.181.990.520.39
EPS in Rs201.280.491.471.080.330.01-4.410.040.470.800.210.16
Diluted EPS in Rs0.800.21
Dividend Payout %000000000000

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
3%
5 years
-16%
3 years
19%
TTM
45%

Compounded profit growth

10 years
0%
5 years
92%
3 years
68%
TTM
-74%

Stock price CAGR

10 years
—
5 years
6%
3 years
-8%
1 year
-16%

Return on equity

10 years
-1%
5 years
-4%
3 years
3%
Last year
1%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Standalone
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital0.0147.607.601225252525252525
Reserves0.030.516.287.401720209.059.16101212
Borrowings122.14186250344.950.232.532.921873
Other Liabilities121243347559131115151332
Total Liabilities2418751111541386345525369142
Fixed Assets0.610.719.729.168.627.877.186.485.785.114.564.11
CWIP000000000000
Investments00000.300.320.340.320000
Other Assets2417651021451305638464864138
Total Assets2418751111541386345525369142

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Standalone
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity0.131.76-41-1423-7.21209.30-7.301.59-13-47
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 Activity0.06-1.365313-236.35-21-5.172.09-0.181351
Net Cash Flow0.180.202.18-0.750.43-0.50-0.564.06-4.960.28-0.382.50
Free Cash Flow0.111.55-51-1423-7.22209.29-7.311.62-13-47

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Standalone
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days0109201471123641784263533212
Inventory Days3431,2562,9081,10916983581356
Days Payable212153811051816273126
Cash Conversion Cycle3221,1492,7274711,12721524573426633212
Working Capital Days1296736069353712062706413226461,098
ROCE %9.72135.7313139.783.11-250.824.576.635.85

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Standalone · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters747474747474747474747474
Public262626262626262626262626
No. of Shareholders2,9662,9592,6732,6732,8613,4463,2853,3783,2603,1863,1183,084

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -23.7% (₹49.80 → ₹38.00)Brick size ₹2.45 (fixed)Bricks 28
₹30.00₹50.00₹60.00₹38.00Nov '25Feb '26May '26Sep '26
Price moved up one brickPrice moved down one brickLast close ₹38.00 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

News

News and filings about Art Nirman Limited. Open one to see why it matters.

No recent news for this company.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Sells to

  • Art Club Private Limited · Works contract for construction of 'Club Babylon' near Village Bhadaj, S.P. Ring Road, Ahm…
  • Om Enterprise · Works contract for construction of 'Omkar Enclave' residential project, Ranip, Ahmedabad;…
  • Vishnudhara Paradise · Works contract for construction of 'Shree Vishnudhara Essence', Thaltej, Ahmedabad; FY24 r…

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Realty
Industry
Residential, Commercial Projects
Classification
Realty › Residential, Commercial Projects
ISIN
INE738V01013

News impact

Big market events that reach Art Nirman Limited, and how the effect spreads.

No recent market events reach this company.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Splits, bonuses & buybacks

  • daily-prices repair: 10 rows from NSE's archive (replace 4, delete 1, insert 5), 2017-11-16..2026-02-01 (docs/flat_day_repair.md)1× · 16 Nov 2017

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.