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Swing Capital

Art Nirman Ltd

NSE: ARTNIRMANInfra

Incorporated in 2011, Art Nirman Ltd is in the business of real estate development and allied activities[1]

₹38.4
52W: ₹29.4 — ₹72.5
PE 79.9 · Book ₹15.1 · +154% vs book
Market Cap₹95.9 Cr
Stock P/E79.9Price to Earnings
ROCE6.63%Return on Capital
ROE5.48%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Debtor days have improved from 165 to 33.2 days.

Weaknesses

  • −Stock is trading at 2.54 times its book value
  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Company has low interest coverage ratio.
  • −The company has delivered a poor sales growth of -15.1% over past five years.
  • −Tax rate seems low
  • −Company has a low return on equity of 3.12% over last 3 years.

Shareholding Pattern

Promoters73.75%
FIIs0%
DIIs0%
Public26.25%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters73.75%73.75%73.75%73.75%73.75%73.75%73.75%73.75%
FIIs0%0%0%0%0%0%0%0%
DIIs0%0%0%0%0%0%0%0%
Public26.25%26.25%26.25%26.25%26.25%26.25%26.25%26.25%

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales11.953.7513.385.58.464.58.921.56.752.5
Expenses11.143.5212.594.997.834.187.11.525.42.37
Operating Profit0.810.230.790.510.630.321.82-0.021.350.13
OPM %6.78%6.13%5.9%9.27%7.45%7.11%20.4%-1.33%20%5.2%
Net Profit0.670.080.220.410.530.280.77-0.070.430.07
EPS ₹0.270.030.090.160.210.110.31-0.030.170.03

AI Insights

Revenue Trend

TTM revenue at ₹19.67Cr, down 28.2% YoY. OPM at 16.68%.

Debt Position

Borrowings at ₹19.83Cr. Debt-to-equity ratio: 1.56x. High leverage — monitor closely.

Institutional Flow

DIIs: 0% (+0.00pp change). FIIs: 0% (+0.00pp change). Promoters hold 73.75%.

Margin & Efficiency

ROCE improving from 3.55% (Mar 2014) to 6.63% (Mar 2025). Working capital days: 646.18.

Valuation

PE 79.9x with 6.63% ROCE. Price is 154% above book value of ₹15.1. Dividend yield: 0%.

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