Art Nirman Ltd.
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ABOUT
AI Sector View
AI GENERATEDRealty
Housing and construction indicators remain supportive for real estate. The housing index reached 105 (Mar/26), residential property prices rose 4.21% (Mar/26), construction output was 5.4% (Jul/26), and cement output accelerated to 13.1% YoY (2026-07). Bank lending rates are steady at 8.96% (Aug/26) rather than easing, but FPI flows turned positive with INR 1999 crore net inflow over 3 months to 2026-08-31 from INR -7216 crore previously.
PROS
- Operating margins have improved to 12.0% from -26.7%
- Company maintains a comfortable, low leverage position
CONS
- Operating cash flow has been negative in recent years
- Company has a low return on capital employed of 4.0%
- Company has a low return on equity of 3.1% over last 3 years
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -5.82x)
- Company's sales have been declining over the last five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| DLF | 672.30 | 37.43 | 166415.21 | 1.19 | 793.90 | -89.59 | 1280.34 | -52.87 | 6.81 | 49.68 |
| LODHA | 1210.75 | 29.32 | 120980.95 | 0.35 | 1373.10 | 103.39 | 4996.70 | 43.10 | 16.89 | 38.51 |
| PHOENIXLTD | 1911.60 | 53.42 | 68373.70 | 0.13 | 394.51 | 22.95 | 1074.94 | 12.80 | 15.41 | 59.77 |
| OBEROIRLTY | 1857.70 | 25.69 | 67546.39 | 0.43 | 543.51 | 29.02 | 1300.89 | 31.73 | 17.69 | 56.75 |
| PRESTIGE | 1558.85 | 58.96 | 67144.38 | 0.13 | 271.40 | -12.87 | 2675.10 | 15.94 | 11.51 | 31.75 |
| GODREJPROP | 1915.00 | 36.05 | 57684.87 | 0.52 | 349.38 | -41.61 | 506.17 | 16.48 | 8.37 | -57.98 |
| ANANTRAJ | 641.10 | 39.87 | 23071.71 | 0.16 | 149.19 | 18.50 | 631.40 | 6.58 | 12.23 | 29.53 |
| BRIGADE | 680.50 | 31.95 | 22201.94 | 0.22 | 216.94 | 37.35 | 1115.55 | -12.93 | 11.02 | 32.33 |
| ABREL | 1377.35 | 116.32 | 15384.40 | 0.18 | -34.59 | -27.73 | 188.85 | 30.95 | -4.54 | -30.02 |
| SOBHA | 1250.45 | 57.99 | 13374.04 | 0.48 | 50.85 | 273.37 | 1278.15 | 50.03 | 6.96 | 6.07 |
| SIGNATURE | 799.30 | 10.77 | 11245.03 | 0.00 | -16.53 | -148.00 | 551.99 | -36.24 | 34.77 | -8.10 |
| ARTNIRMAN | 40.21 | 252.13 | 100.35 | 0.00 | -0.20 | -178.57 | 2.11 | 41.00 | 6.61 | -3.83 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 5 | 12 | 4 | 13 | 6 | 8 | 4 | 9 | 2 | 7 | 2 | 22 | 2 | |
| 5 | 11 | 4 | 13 | 5 | 8 | 4 | 7 | 2 | 5 | 2 | 19 | 2 | |
| Operating Profit | 0 | 1 | 0 | 1 | 1 | 1 | 0 | 2 | -0 | 1 | 0 | 4 | -0 |
| OPM % | 4.21% | 6.86% | 6.13% | 5.90% | 9.27% | 7.33% | 7.11% | 20.40% | -1.33% | 19.82% | 5.20% | 15.61% | -12.62% |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Interest | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 0 | 1 | 0 | 3 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before Tax | 0 | 1 | 0 | 0 | 0 | 1 | 0 | 1 | -0 | 0 | 0 | 0 | -0 |
| Tax % | 0.00% | 0.00% | 0.00% | -15.79% | 0.00% | 0.00% | 0.00% | -4.00% | -0.00% | 0.00% | 0.00% | 59.09% | -22.01% |
| Net Profit | 0 | 1 | 0 | 0 | 0 | 1 | 0 | 1 | -0 | 0 | 0 | 0 | -0 |
| 0.08 | 0.27 | 0.03 | 0.09 | 0.16 | 0.21 | 0.11 | 0.31 | -0.03 | 0.17 | 0.03 | 0.04 | -0.08 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 26 | 26 | 35 | 19 | 62 | 85 | 37 | 20 | 34 | 27 | 34 | |
| 24 | 25 | 27 | 9 | 54 | 82 | 47 | 19 | 32 | 24 | 29 | |
| Operating Profit | 1 | 1 | 7 | 10 | 8 | 3 | -10 | 1 | 2 | 3 | 5 |
| OPM % | 4.93% | 4.61% | 21.69% | 52.81% | 13.45% | 3.04% | -26.90% | 4.93% | 5.95% | 11.96% | 13.92% |
| 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Interest | 0 | 0 | 6 | 8 | 6 | 2 | 0 | 0 | 1 | 1 | 4 |
| Depreciation | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Profit before Tax | 1 | 1 | 2 | 2 | 1 | 0 | -11 | 0 | 1 | 2 | 1 |
| Tax % | 29.55% | 47.27% | 29.99% | 28.87% | 34.02% | -88.89% | 0.11% | -34.21% | -2.84% | -1.35% | 29.41% |
| Net Profit | 1 | 0 | 1 | 1 | 1 | 0 | -11 | 0 | 1 | 2 | 0 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.34 | 0.01 | -4.41 | 0.04 | 0.47 | 0.80 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- -15%
- 3 Years:
- -9%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 49%
- 5 Years:
- 20%
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 6%
- 3 Years:
- -9%
- 1 Year:
- -20%
RETURN ON EQUITY
- 10 Years:
- 3%
- 5 Years:
- -4%
- 3 Years:
- 3%
- Last Year:
- 5%
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 8 | 8 | 12 | 25 | 25 | 25 | 25 | 25 | 25 |
| 1 | 6 | 7 | 12 | 20 | 20 | 9 | 9 | 10 | 12 | |
| 5 | 49 | 59 | 31 | 28 | 10 | 5 | 7 | 6 | 20 | |
| Trade Payables | 1 | 8 | 9 | 14 | 9 | 4 | 2 | 7 | 7 | 7 |
| 7 | 4 | 28 | 86 | 55 | 5 | 4 | 4 | 5 | 5 | |
| Total Liabilities | 18 | 75 | 111 | 154 | 138 | 63 | 45 | 52 | 53 | 69 |
| 1 | 10 | 9 | 9 | 8 | 7 | 6 | 6 | 5 | 5 | |
| 16 | 45 | 70 | 113 | 99 | 33 | 8 | 14 | 19 | 42 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 2 | |
| Cash & Bank | 0 | 2 | 2 | 2 | 2 | 1 | 5 | 0 | 4 | 4 |
| 2 | 18 | 30 | 31 | 29 | 21 | 25 | 32 | 21 | 16 | |
| Total Assets | 18 | 75 | 111 | 154 | 138 | 63 | 45 | 52 | 53 | 69 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2 | -41 | -13 | 24 | -7 | 20 | 9 | -7 | 2 | -13 | |
| Cash from Investing | -0 | -9 | 0 | 0 | 0 | 0 | -0 | 0 | -1 | -0 |
| Cash from Financing | -1 | 53 | 13 | -23 | 6 | -21 | -5 | 2 | -0 | 13 |
| 0 | 2 | -1 | 0 | -1 | -1 | 4 | -5 | 0 | -0 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-07 - Art Nirman Limited has informed the Exchange about Copy of Newspaper Publication
2026-09-05 - Art Nirman Limited has informed the Exchange regarding 'Shareholder Letter regarding the Annual General Meeting '.
2026-09-05 - Art Nirman Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 26, 2026
2026-08-31 - The Exchange has sought clarification from Art Nirman Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company is required to clarify the following: The response of the Company is awaited.
2026-08-15 - Art Nirman Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-14 - Art Nirman Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-07 - Art Nirman Limited has informed the Exchange regarding Resignation of Mr Chintan Bhatt as Non- Executive Independent Director of the company w.e.f. August 07, 2026.
2026-08-07 - Art Nirman Limited has informed the Exchange about Resignation of Director/KMP/SMP
2026-08-03 - Art Nirman Limited has informed the Exchange about General Updates
News
Recent coverage and analyst commentary for ARTNIRMAN
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Art Nirman Ltd.
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