Art Nirman Limited
NSE: ARTNIRMAN · Other · sector
₹37.48NSE close 2026-10-26
Key numbers
Market cap₹94 cr
Price₹37.48
52w high / low₹67 / ₹29
P/E234.2xSector median 14.4x
P/B2.5xSector median 1.7x
Book value₹14.9
Dividend yield–Sector median 0.37%
ROE1.1%Sector median 13.8%
ROCE4.3%Sector median 19.6%
OPM14.5%Sector median 10.4%
Debt / equity1.96xSector median 0.29x
EV/EBITDA32.6xSector median 8.4x
Interest cover1.1x
Current ratio4.48x
Sales growth 3y+19.0%Sector median +7.7%
Profit growth 3y+66.7%Sector median +16.6%
PEG3.18x
Last 12 months to Jun 2026, Standalone. "Sector median" = middle value of 688 companies in Other (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹7 cr vs borrowings ₹73 cr (FY26): borrowings are higher by ₹66 cr.
- Borrowings rose in each of the last 3 years (₹0 cr → ₹73 cr).
- Operating profit covered interest 1.1x in the last 12 months.
- Operating cash flow was below net profit in 3 of the last 5 years (FY26, FY25, FY23).
- Net loss in 2 of the last 8 quarters.
- Revenue was higher than a year earlier in 2 of the last 4 quarters.
- Other income was 87% of net profit in the last 12 months.
- Debtor days went from 35 (FY24) to 213 (FY26).
- No dividend in the last 5 financial years.
- Price ₹37.48 on 2026-10-26: -44.0% from the 52-week high, +27.5% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹72.24 · low ₹31.94
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8 | 4 | 9 | 2 | 7 | 2 | 22 | 2 |
| EBITDA | 1 | 0 | 2 | -0 | 1 | 0 | 4 | -0 |
| OPM % | 7.4% | 7.1% | 20.4% | -1.3% | 19.9% | 5.2% | 15.6% | -3.8% |
| Other income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net profit | 1 | 0 | 1 | -0 | 0 | 0 | 0 | -0 |
| EPS (₹) | 0.21 | 0.11 | 0.31 | -0.03 | 0.17 | 0.03 | 0.04 | -0.08 |
| Revenue YoY | -20.2% | -44.4% | +152.0% | +40.7% | ||||
| Profit YoY | -18.9% | -75.0% | -88.3% | – |
Standalone figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 37 | 20 | 34 | 27 | 33 | 34 |
| EBITDA | -10 | 1 | 2 | 3 | 5 | 5 |
| Net profit | -11 | 0 | 1 | 2 | 1 | 0 |
| EPS (₹) | -4.41 | 0.04 | 0.47 | 0.80 | 0.21 | 0.16 |
| Revenue growth | -46.5% | +73.9% | -20.1% | +21.4% | +44.8% | |
| Profit growth | – | +972.7% | +68.6% | -73.9% | -73.8% | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +19.0% | – | +44.8% |
| Net profit | +66.7% | – | -73.8% |
| EPS | +73.8% | – | – |
| Share price | – | -23.4% (2y) | -31.6% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 34 | 35 | 37 | 37 |
| Borrowings | – | 0 | 3 | 18 | 73 |
| Cash & equivalents | – | 11 | 4 | 4 | 7 |
| Total assets | – | 45 | 53 | 69 | 142 |
| Fixed assets | – | 6 | 5 | 5 | 4 |
| Capital work in progress | – | 0 | 0 | 0 | 0 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 18 | 3 | 2 | 19 |
| Inventory | – | 8 | 19 | 42 | 75 |
| Payables | – | 2 | 7 | 7 | 25 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 9 | -7 | 2 | -14 | -47 |
| Cash from investing | -0 | 0 | -1 | 0 | -1 |
| Cash from financing | -5 | 2 | -0 | 14 | 51 |
| Capex | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | 9 | -7 | 2 | -14 | -47 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 0.3% | 3.3% | 5.3% | 1.4% |
| ROCE % | – | 0.8% | 4.5% | 5.6% | 4.4% |
| Debtor days | – | 332 | 35 | 33 | 213 |
| Inventory days | – | 334 | 356 | 563 | 828 |
| Payable days | – | 64 | 126 | 89 | 274 |
| Cash conversion cycle (days) | – | 602 | 265 | 507 | 767 |
| Working capital days | – | 599 | 369 | 696 | 1,175 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 73.75% |
| FIIs | 0.00% |
| DIIs | 0.00% |
| of which Mutual funds | 0.00% |
| of which Insurance | 0.00% |
| Government | 0.00% |
| Public (non-institutions) | 26.25% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 73.75% | 73.75% | 73.75% | 73.75% | 73.75% | 73.75% | 73.75% | 73.75% |
| Promoter group | % |
|---|---|
| Ashokkumar Raghuram Thakker | 66.75% |
| Dharmisthaben Ashokkumar Thakkar | 3.51% |
| Piyushkumar C Thakkar | 3.49% |
| Alpeshkumar Chimanbhai Patel | 0.00% |
| Ashokkumar Raghurambhai Thakker HUF | 0.00% |
| Thakker Raghurambhai Vasr Ambhai | 0.00% |
| Public holders above 1% | % |
|---|---|
| Ajaykumar Jamnalal Pujara | 3.43% |
| Kevin Arvindkumar Thakkar | 1.76% |
| Maulik Arvindbhai Thakkar | 1.66% |
| Kamlesh Amrutlal Pujara | 1.61% |
| Thakkar Mayurkumar Jayantilal (HUF) | 1.61% |
| Chiragkumar Jayantilal Thakkar | 1.56% |
| Nareshkumar Amratlal Pujara HUF | 1.26% |
3,038 shareholders. Pledged: – of promoter shares.
Peers in Other
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| TSFINV | ₹8,585 cr | 17.6x | 1.4x | 8.4% | 3.6% | 20.5% | +121.7% | 2.30% |
| KRISHANA | ₹6,339 cr | 39.9x | 11.3x | 41.6% | 23.2% | 12.6% | +95.7% | 0.05% |
| MARINE | ₹5,431 cr | 84.2x | 11.0x | 14.3% | 18.0% | 10.8% | +25.6% | 0.07% |
| ZOTA | ₹4,139 cr | – | 6.0x | -22.5% | -12.4% | -0.5% | +56.7% | 0.07% |
| AIMTRON | ₹3,319 cr | 71.7x | 17.1x | 28.0% | 31.8% | 21.8% | – | – |
| ACCORD | ₹2,984 cr | – | 261.7x | 12.4% | 12.0% | 2.4% | – | – |
| MONOLITH | ₹2,646 cr | 64.6x | 24.3x | 36.0% | 48.7% | 24.4% | – | – |
| UTSSAV | ₹2,390 cr | 40.2x | 14.1x | 43.4% | 54.7% | 7.9% | – | – |
| BETA | ₹2,200 cr | 40.6x | 5.0x | 16.4% | 17.0% | 20.8% | – | – |
| ARTNIRMAN | ₹94 cr | 234.2x | 2.5x | 1.1% | 4.3% | 14.5% | +19.0% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2024-09-19 | Other | Annual General Meeting |
| 2023-09-18 | Other | Annual General Meeting |
| 2022-09-21 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- Latest results (data file) XBRL
Links go to the original files on the exchange website.
About the company
| Sector | |
| Industry | Other |
| Sub-industry | |
| Symbol | ARTNIRMAN |
| BSE code | – |
| ISIN | INE738V01013 |
| Face value | ₹10.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.