Artemis Electricals And Projects Ltd.
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ABOUT
AI Sector View
AI GENERATEDCapital Goods
Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.
PROS
- Company is almost debt free
- Operating margins have improved to 15.4% from -20.7%
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 4.05x)
- Working capital cycle has improved - days down from 254 to 90
- Company comfortably covers its interest (38.1x coverage)
- Company generates healthy free cash flow
CONS
- Recent results are weak - TTM profit is down 15.2% versus prior year
- Company has a low return on capital employed of 9.2%
- Company has a low return on equity of 7.8% over last 3 years
- Company's sales have been declining over the last five years
- Company has delivered a poor profit growth of -9.2% over past five years
- Stock is trading at 5.1x its book value
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ABB | 7439.00 | 52.76 | 157638.64 | 0.53 | 3623.00 | 930.02 | 35588.70 | 1110.31 | 30.18 | 12.56 |
| POWERINDIA | 32200.00 | 124.76 | 143523.01 | 0.02 | 2941.50 | 2135.18 | 24936.90 | 1586.18 | 28.73 | 14.58 |
| SIEMENS | 4025.00 | 43.76 | 143338.50 | 0.45 | 214.31 | -49.38 | 4713.70 | 8.44 | 21.42 | 9.14 |
| CGPOWER | 878.80 | 110.76 | 138450.55 | 0.15 | 308.28 | 15.52 | 3280.81 | 13.99 | 27.94 | 12.11 |
| ENRIN | 3119.50 | 74.66 | 111091.79 | 0.13 | 440.90 | 67.83 | 2485.60 | 39.28 | 40.19 | 23.56 |
| GVT&D | 4230.00 | 579.99 | 108307.68 | 0.24 | 362.99 | 24.65 | 1836.14 | 38.04 | 75.51 | 25.10 |
| HAVELLS | 1195.00 | 45.92 | 74993.62 | 0.84 | 289.71 | -16.64 | 6518.19 | 19.48 | 25.74 | 7.15 |
| WAAREEENER | 2583.00 | 19.47 | 74300.34 | 0.15 | 891.87 | 15.39 | 7931.79 | 79.22 | 39.73 | 18.15 |
| APARINDS | 16805.15 | 59.56 | 70367.09 | 0.36 | 4674.50 | 1677.98 | 65910.60 | 1191.31 | 31.84 | 11.50 |
| SUZLON | 45.50 | 19.89 | 62542.65 | 0.00 | 305.22 | -5.89 | 3829.09 | 22.83 | 35.79 | 15.55 |
| SCHNEIDER | 1167.70 | 151.94 | 27920.18 | 0.00 | 12.44 | -69.84 | 651.36 | 4.78 | 31.01 | 5.23 |
| AEPL | 15.05 | 43.58 | 377.81 | 0.00 | 1.27 | -3.05 | 16.27 | -17.64 | 11.60 | 13.43 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 11 | 14 | 14 | 2 | 12 | 4 | 18 | 37 | 20 | 16 | 4 | 41 | 16 | |
| 10 | 11 | 12 | 1 | 12 | 3 | 15 | 32 | 18 | 11 | 3 | 37 | 14 | |
| Operating Profit | 2 | 2 | 2 | 1 | 1 | 1 | 4 | 5 | 2 | 5 | 1 | 4 | 2 |
| OPM % | 15.49% | 18.42% | 17.68% | 41.06% | 6.46% | 33.58% | 21.36% | 13.50% | 11.18% | 29.87% | 30.28% | 10.36% | 13.43% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 1 | 2 | 2 | 1 | 1 | 1 | 4 | 5 | 2 | 5 | 1 | 4 | 2 | |
| Tax % | 27.42% | 23.70% | 25.27% | 24.64% | 25.93% | 25.23% | 25.21% | 25.29% | 27.89% | 25.26% | 20.19% | 26.43% | 32.06% |
| Net Profit | 1 | 1 | 1 | 1 | 0 | 1 | 3 | 4 | 1 | 4 | 1 | 3 | 1 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Equity Capital | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 45 | 47 | 89 | 102 | 107 | 45 | 34 | 58 | 41 | 72 | 77 | |
| 43 | 44 | 74 | 85 | 89 | 42 | 41 | 47 | 34 | 61 | 65 | |
| Operating Profit | 2 | 3 | 15 | 17 | 20 | 4 | -7 | 11 | 8 | 12 | — |
| OPM % | 5 | 7 | 17 | 16 | 19 | 8 | -21 | 19 | 19 | 16 | — |
| Other Income | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 1 | 1 |
| Interest | 0 | 0 | 0 | 1 | 1 | 1 | 6 | 2 | 1 | 0 | 0 |
| Depreciation | 0 | 0 | 1 | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 1 |
| 2 | 3 | 14 | 14 | 17 | 0 | -15 | 8 | 5 | 10 | 12 | |
| Tax % | 26 | 38 | 33 | 27 | 26 | 68 | 21 | 16 | 25 | 25 | 26 |
| Net Profit | 2 | 2 | 10 | 10 | 12 | 0 | -12 | 7 | 4 | 8 | 9 |
| EPS | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 0 | 0 | 1 | 1 | 1 | 0 | -0 | 0 | 0 | 0 | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 23%
- 5 Years:
- -8%
- 3 Years:
- 28%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 37%
- 5 Years:
- -9%
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- 21%
- 5 Years:
- 2%
- 3 Years:
- 8%
- Last Year:
- 9%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 4 | 4 | 4 | 18 | 25 | 25 | 25 | 25 | 25 | 25 |
| 2 | 4 | 14 | 10 | 53 | 56 | 45 | 51 | 54 | 62 | |
| 0 | 0 | 2 | 4 | 4 | 4 | 4 | 25 | 9 | 0 | |
| Trade Payables | 1 | 8 | 20 | 16 | 32 | 15 | 21 | 16 | 15 | 28 |
| 6 | 3 | 28 | 18 | 13 | 11 | 29 | 8 | 7 | 8 | |
| Total Liabilities | 14 | 20 | 67 | 66 | 127 | 111 | 123 | 125 | 109 | 122 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 1 | 1 | 16 | 16 | 19 | 17 | 15 | 13 | 12 | 11 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 | 14 | 21 | 26 | 56 |
| 1 | 1 | 0 | 0 | 0 | 0 | 3 | 4 | 4 | 4 | |
| 3 | 4 | 19 | 24 | 25 | 22 | 6 | 0 | 0 | 0 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 52 | 25 | |
| Cash & Bank | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
| 8 | 13 | 32 | 25 | 83 | 72 | 84 | 87 | 16 | 26 | |
| Total Assets | 14 | 20 | 67 | 66 | 127 | 111 | 123 | 125 | 109 | 122 |
| Total Debt | 0 | 0 | 13 | 10 | 9 | 9 | 30 | 28 | 12 | 2 |
| Net Working Capital | 3 | 4 | 10 | 16 | 59 | 61 | 39 | -9 | 29 | 18 |
| Contingent Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book Value per Share | 15.16 | 19.23 | 40.78 | 15.58 | 31.50 | 32.34 | 27.74 | 3.03 | 3.16 | 3.46 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 1.00 | 1.00 | 1.00 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 1 | 3 | 7 | -34 | -3 | 2 | 12 | 21 | 41 | |
| Cash from Investing | -2 | -1 | -15 | -2 | -3 | 0 | -17 | -8 | -5 | -30 |
| Cash from Financing | 0 | 0 | 11 | -4 | 36 | 3 | 16 | -4 | -17 | -10 |
| -1 | -0 | -0 | 1 | -1 | 0 | 0 | -0 | 0 | 1 | |
| Free Cash Flow | 1 | 0 | -12 | 6 | -38 | -3 | -13 | 5 | 17 | 11 |
| OCF / Net Profit | 0.51 | 0.43 | 0.35 | 0.66 | -2.70 | -16.21 | -0.14 | 1.79 | 5.18 | 5.36 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -43 | -46 | -59 | -42 | -32 | 17 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 3.53 | 4.07 | 21.55 | 5.75 | 5.05 | 0.06 | -4.66 | 0.26 | 0.16 | 0.31 |
| Book Value (₹) | 15.16 | 19.23 | 40.78 | 15.58 | 31.50 | 32.34 | 27.74 | 3.03 | 3.16 | 3.46 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 |
| Cash EPS (₹) | 0.10 | 0.12 | 0.57 | 0.68 | 0.58 | 0.10 | -0.39 | 0.03 | 0.22 | 0.35 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 5.02% | 6.48% | 16.78% | 16.46% | 18.62% | 7.91% | -20.73% | 18.98% | 18.69% | 15.42% |
| Net Margin % | 3.17% | 3.73% | 10.65% | 10.01% | 11.68% | 0.36% | -34.11% | 11.19% | 9.91% | 10.62% |
| ROE % | 34.09% | 23.69% | 71.82% | 44.62% | 23.69% | 0.20% | -15.53% | 8.93% | 5.27% | 9.26% |
| ROCE % | 42.75% | 36.19% | 72.59% | 43.83% | 29.21% | 1.47% | -9.51% | 9.26% | 6.62% | 11.68% |
| 16.56% | 10.80% | 21.98% | 15.29% | 12.95% | 0.14% | -10.01% | 5.25% | 3.49% | 6.63% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 31 | 62 | 71 | 75 | 141 | 469 | 554 | 271 | 372 | 193 |
| Inventory Days | 14 | 27 | 48 | 77 | 83 | 190 | 152 | 20 | 1 | 0 |
| Payable Days | 10 | 40 | 74 | 85 | 106 | 554 | 297 | 642 | 238 | 627 |
| 35 | 48 | 45 | 67 | 118 | 104 | 409 | -351 | 135 | -434 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.05x | 0.05x | 0.72x | 0.35x | 0.12x | 0.11x | 0.43x | 0.37x | 0.15x | 0.03x |
| Interest Coverage (x) | 11.13x | 476.05x | 39.42x | 15.34x | 15.35x | 1.62x | -1.53x | 5.54x | 6.53x | 38.07x |
| 1.43x | 1.39x | 1.26x | 1.47x | 2.35x | 3.44x | 2.30x | 0.81x | 2.01x | 1.54x | |
| GROWTH | ||||||||||
| Revenue Growth % | 408.58% | 4.25% | 89.41% | 13.74% | 5.06% | -57.96% | -23.62% | 69.58% | -28.96% | 74.93% |
| Operating Profit Growth % | 308.57% | 26.56% | 379.96% | 11.20% | 18.79% | -82.02% | -298.78% | 255.30% | -28.97% | 49.52% |
| Net Profit Growth % | 382.94% | 15.46% | 428.94% | 6.55% | 22.55% | -98.71% | -7351.27% | 155.61% | -37.08% | 87.55% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -37.08% | 87.53% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 217.18x | 58.18x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 11.23x | 5.15x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 114.93x | 38.19x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-14 - Artemis Electricals and Projects Limited has informed the Exchange about Investor Presentation
2026-08-14 - Artemis Electricals and Projects Limited has informed the Exchange about Copy of Newspaper Publication for the Financial Results declared for quarter ended June 30, 2026.
2026-08-13 - Artemis Electricals and Projects Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-13 - Artemis Electricals and Projects Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 for quarter ended 30th June, 2026
2026-06-26 - Artemis Electricals and Projects Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
2026-06-09 - Artemis Electricals and Projects Limited has informed the Exchange about change in Management
2026-06-08 - Artemis Electricals and Projects Limited has informed the Exchange regarding Proceedings of Postal Ballot. Further, the Company has submitted the Exchange a copy of Scrutinizers report along with voting results.
2026-05-30 - Artemis Electricals and Projects Limited has informed the Exchange about Appointment and Resignation of Secretarial Auditor.
2026-05-29 - Artemis Electricals and Projects Limited has informed the Exchange about Copy of Newspaper Publication of Financial Results for Quarter and Financial Year ended 31st March, 2026.
News
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