ARTNIRMAN

Art Nirman Limited

Listed company · ISIN INE738V01013 · NSE EQ · FV ₹10
Last price
₹41
+1.50%today
What this company does

Art Nirman Limited is a listed company. It booked ₹2 cr of revenue in its latest quarter (Q1 FY27) and kept -9.2% of sales as profit.

The Company is engaged in the business of real estate development and allied acvies. 2.
In the report:
37out of 100
Equitytale Health Score
Strained

Healthier than 37% of listed companies we score, on all six measures of filed financials. Each measure is ranked against the 1,201–2,858 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
51

At close. Not part of the score.

Profitability & returns8

How much profit it earns on the money it employs

Balance sheet17

How much it owes, and whether earnings cover the interest

Cash quality18

Whether reported profit actually arrives as cash

Growth & consistency84

Whether sales and profit have grown, and how steadily

Valuation44

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Some things to watch
Strengths
Sales up 41% vs last year
Promoters hold 74%
No promoter shares pledged
Watch-outs
! Currently loss-making
! Thin -9.2% net margin
! Low -2.1% return on equity
! Carries high debt (D/E 2.0)

What if I invest in ARTNIRMAN?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹41 +1.50%
latest close · 2026-09-17
1-year return
+72.6%
52-wk low ₹1452-wk high ₹196
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/B ratio2.72Moderate
Below bookModerateHigh
EV / EBITDA1,625.1High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity-2.1%Loss
WeakFairStrong ▸15%
Return on capital-0.4%Loss
WeakFairStrong
Net margin-9.2%Loss
ThinDecentStrong
EBITDA margin1.2%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity1.96High
LowModerateHigh ▸1
Interest cover-3.3×Risky
RiskyOkayStrong ▸5×
Current ratio4.48Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹101 cr
Book value
₹15
EPS
₹-0.08
latest quarter
Net debt
₹70 cr
owes more than its cash
Enterprise value
₹172 cr
EBITDA
₹10.6 L
annualised
EBIT
₹-49 L
annualised
Operating margin
-5.8%
Return on assets
-0.5%
Earnings yield
P/S
11.97
Sales / share
₹3.4
Tax rate
Face value
₹10
Shares
2.5 cr
Working capital
₹107 cr
Current assets
₹138 cr
Current liabilities
₹31 cr
Delivery %
94.1%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2024 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹8₹8, midpoint ₹8

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹2 cr
Other Income₹10.8 L
Total Income₹2 cr
Cost of Materials₹6 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-12 cr
Employee Benefit Expense₹28.8 L
Finance Costs₹3.7 L
Depreciation & Amortisation₹14.9 L
Other Expenses₹8 cr
Total Expenses₹2 cr
Profit before Tax₹-16 L
Tax Expense₹3.5 L
Net Profit₹-19.5 L
Net margin on total income-8.8%
Where the money goes · Q1 FY27
% of total spend
Employee benefit expense₹28.8 L11.9%
Finance costs₹3.7 L1.5%
Depreciation & amortisation₹14.9 L6.2%
Other expenses₹2 cr78.9%
Tax expense₹3.5 L1.5%
Total income ₹2 cr

The company made a net loss of ₹19.5 L this quarter — income covered only 92 of every ₹100 it spent on costs and tax.

Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue3 cr22 cr2 cr
Total income3 cr23 cr2 cr
Expenses3 cr22 cr2 cr
Profit before tax6.9 L21.8 L-16 L
Tax0 cr12.8 L3.5 L
Net profit (owners' share)6.9 L8.9 L-19.5 L
Net margin (owners' share, on revenue)2.7%0.4%-9.2%
EPS (₹)0.030.04-0.08
YoY (latest quarter): total income +37.6% · net profit
Balance sheet & cash flow · as of Mar 2026
High debt
Total assets
₹142 cr
Shareholder equity
₹37 cr
parent shareholders
Total debt
₹73 cr
Cash
₹3 cr
Cash flow · H1 FY26
Operating
₹16.3 L
Investing
₹-37.7 L
Financing
₹90.9 L
Who owns it · 2026-06-30
No pledge
Promoter
73.8%
Public
26.3%
Smart-money activity
Insider trades
BoughtRaghurambhai Vasrambhai Thakkar · Promoter Group8.70 L · ₹1.4 cr2 May 19
BoughtAshokkumar Raghuram Thakker · Promoters67.80 L · ₹10.8 cr2 May 19
BoughtAshokkumar Raghuram Thakker · Promoters33.90 L · ₹5.4 cr25 Apr 19
Bulk / block deals
SoldSHAKKARBHAI DESAI AMRATBHAI · NSE1.52 L @ ₹66.130 Dec 22
BoughtL7 HITECH PRIVATE LIMITED · NSE1.70 L @ ₹66.0930 Dec 22
SoldSHAKKARBHAI DESAI AMRATBHAI · NSE1.50 L @ ₹10620 Sep 22
Stake changes
BoughtAshokkumar Raghuram Thakkar · promoter→ 66.76% · 8.70 L29 Aug 24
BoughtAshokkumar Raghuramthakkar · promoter→ 63.17% · 67.80 L2 May 19
BoughtRaghurambhai Vashrambhai Thakkar · promoter→ 3.49% · 8.70 L2 May 19
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 17 Oct 2025
See the official result
1
Approval of power to borrow funds pursuant to the provisions of section 180(1)(c) of the Companies Act, 2013, not exceeding Rs. 300 Crores
Backed by 100% of shareholders other than promotersneeded 75%
14.54 L votes for, 3 against · 0% of mutual funds and other big investors said no
2
Approval of power for creation of charge on the assets of the Company to secure borrowings up to Rs. 300 Crores pursuant to section 180(1)(a) of the Companies Act, 2013
Backed by 100% of shareholders other than promotersneeded 75%
14.54 L votes for, 3 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 6 named members
owning 73.8% between them · as of 2026-06-30
ASHOKKUMAR RAGHURAM THAKKER66.75%
DHARMISTHABEN ASHOKKUMAR THAKKAR3.51%
PIYUSHKUMAR C THAKKAR3.49%
ALPESHKUMAR CHIMANBHAI PATELno shares
ASHOKKUMAR RAGHURAMBHAI THAKKER HUF .no shares
THAKKER RAGHURAMBHAI VASR AMBHAI .no shares

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.