ATV Projects India Ltd.

•

atvprojects.co.inBSE: -NSE: ATVPROJ

Market Cap₹ 132 Cr.

Current Price

High / Low—

Stock P/E18.4

Book Value₹ 41

Price to Book0.72

Dividend Yield0.00 %

ROCE2.9 %

ROE3.4 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Capital Goods

Buy

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.

Confidence

72%

View full sector analysis →

PROS

Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.24x)
Company comfortably covers its interest (166.7x coverage)
Company generates healthy free cash flow
Company maintains a comfortable, low leverage position

CONS

Company has a low return on capital employed of 2.8%
Company has a low return on equity of 3.5% over last 3 years
Recent results are weak - TTM profit is down 13.2% versus prior year
Effective tax rate is unusually low at -0.7% - earnings may be flattered
Company has delivered a poor profit growth of 0.7% over past five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsCapital GoodsEngineering - Industrial Equipments

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	BHEL	426.90	61.11	148649.28	0.33	376.71	182.70	7697.72	40.29	9.24	6.69
2.	THERMAX	3752.55	75.36	44714.00	0.53	21.79	-85.61	2302.73	7.09	15.85	2.98
3.	INDOMIM	888.45	82.34	43932.16	0.67	2401.22	—	12187.42	—	24.48	33.36
4.	KIRLOSENG	2160.85	57.58	31444.66	0.32	1110.60	699.45	19995.30	1034.94	14.46	15.02
5.	JYOTICNC	959.90	67.86	21830.34	0.00	57.14	-19.99	508.47	23.97	23.88	21.40
6.	INOXINDIA	2097.85	74.72	19040.82	0.10	58.07	-4.98	370.79	9.18	33.54	20.46
7.	AZAD	2783.75	129.36	17977.94	0.00	351.60	1094.62	1725.99	1159.00	12.28	37.29
8.	TRITURBINE	565.00	53.41	17961.26	0.75	51.10	-20.65	442.70	19.23	35.95	11.59
9.	LLOYDSENGG	82.81	57.42	12844.15	0.30	68.23	-77.28	527.15	142.92	17.99	15.04
10.	TEGA	1540.80	547.86	11575.68	0.13	-1082.52	-3163.59	17234.42	4739.88	8.37	3.27
11.	KENNAMET	4650.90	87.29	10221.86	0.00	31.50	11.31	267.30	12.55	18.99	17.51
12.	ATVPROJ	24.88	18.42	132.16	0.00	2.03	1.14	20.62	35.15	2.87	11.36

Detailed Comparison with:

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
	14	17	12	19	20	17	16	18	15	14	18	20	21
	12	15	10	17	18	16	14	16	13	12	16	18	19
Operating Profit	2	2	1	2	2	2	2	2	2	2	2	2	2
OPM %	16.25%	11.51%	12.53%	9.27%	9.38%	10.13%	11.87%	12.49%	14.55%	12.33%	10.25%	11.79%	11.36%
Other Income	0	0	0	0	0	0	0	1	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
	2	2	1	2	2	2	2	3	2	1	2	2	2
Tax %	-1.00%	-1.20%	-1.67%	0.00%	-1.27%	0.00%	-0.60%	-0.39%	-0.50%	0.00%	-0.62%	-0.98%	-0.79%
Net Profit	2	2	1	2	2	2	2	3	2	1	2	2	2
	0	0	0	0	0	0	0	0	0	0	0	0	0
Equity Capital	53	53	53	53	53	53	53	53	53	53	53	53	53
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 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	60	54	41	38	34	33	48	62	71	68	73
	55	53	38	34	30	29	43	54	63	59	65
Operating Profit	6	3	3	4	4	4	6	8	8	8	—
OPM %	10	6	8	10	11	11	13	12	12	12	—
Other Income	1	2	0	0	0	1	1	0	1	0	0
Interest	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1	1	1	1	1	1	1	1	1	1	1
	151	38	-4	3	7	7	5	6	7	7	7
Tax %	0	-0	-2	12	7	-15	-2	-1	-1	-1	-1
Net Profit	151	38	-4	2	7	8	5	6	7	7	7
EPS	0	0	0	0	1	2	1	1	1	1	—
Dividend Payout %	0	0	0	0	0	0	0	0	0	0	—
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	29	7	-1	0	1	2	1	1	1	1	—

COMPOUNDED SALES GROWTH

10 Years:: -1%
5 Years:: 15%
3 Years:: 12%

COMPOUNDED PROFIT GROWTH

10 Years:: 0%
5 Years:: 1%
3 Years:: 12%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: 5%
5 Years:: 3%
3 Years:: 3%
Last Year:: 3%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	53	53	53	53	53	53	53	53	53	53
	57	126	127	130	131	134	140	146	153	161
Trade Payables	6	3	2	2	2	4	4	2	5	3
	137	97	87	76	76	72	72	67	49	53
Total Liabilities	253	279	269	260	262	263	268	267	259	270
ASSETS	-	-	-	-	-	-	-	-	-	-
	180	217	222	221	216	214	214	214	213	214
	9	11	20	20	19	32	35	34	21	29
	0	0	0	0	0	0	0	7	13	11
Cash & Bank	1	5	1	2	1	0	1	3	1	7
	63	46	26	17	26	17	18	9	10	10
Total Assets	253	279	269	260	262	263	268	267	259	270
Total Debt	126	77	70	62	62	54	54	51	43	36
Net Working Capital	54	36	25	24	30	29	34	36	36	37
Contingent Liabilities	6	6	6	6	6	6	5	26	27	26
Book Value per Share	20.87	34.00	34.18	34.65	34.90	35.59	36.55	37.78	39.19	40.55
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-14	21	4	9	-5	5	-1	7	6	13
Cash from Investing	14	33	-1	-0	4	2	1	-1	0	-1
Cash from Financing	-0	-50	-7	-8	-0	-8	0	-4	-8	-6
	0	4	-4	1	-1	-1	1	2	-2	5
Free Cash Flow	-14	-16	-4	9	-5	5	-2	6	5	11
OCF / Net Profit	-0.09	0.53	-1.02	3.68	-0.70	0.62	-0.18	1.14	0.79	1.78
Cumulative 5-Year FCF	0	0	0	0	-30	-10	3	13	9	26

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	28.78	7.31	-0.69	0.47	1.32	1.52	0.97	1.23	1.41	1.36
Book Value (₹)	20.87	34.00	34.18	34.65	34.90	35.59	36.55	37.78	39.19	40.55
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	28.91	7.42	-0.50	0.64	1.48	1.70	1.21	1.45	1.61	1.58
PROFITABILITY
Operating Margin %	9.37%	6.11%	7.52%	9.89%	11.49%	11.21%	13.21%	12.11%	10.90%	12.11%
Net Margin %	245.13%	70.27%	-8.91%	6.50%	20.44%	24.61%	10.62%	10.49%	10.49%	10.58%
ROE %	0.00%	26.66%	-2.03%	1.36%	3.78%	4.32%	2.68%	3.31%	3.66%	3.41%
ROCE %	61.09%	15.64%	-1.42%	1.14%	3.03%	2.87%	2.05%	2.59%	2.96%	2.87%
	56.97%	14.47%	-1.33%	0.93%	2.65%	3.05%	1.91%	2.41%	2.81%	2.70%
EFFICIENCY
Debtor Days	252	266	175	54	63	59	37	40	53	64
Inventory Days	49	66	137	192	209	286	254	203	141	135
Payable Days	78	38	39	38	44	72	49	27	25	36
	224	294	273	207	228	273	242	215	169	163
FINANCIAL HEALTH
Debt to Equity (x)	1.15x	0.43x	0.39x	0.34x	0.34x	0.29x	0.28x	0.25x	0.21x	0.17x
Interest Coverage (x)	0.00x	0.00x	-1882.58x	147.23x	589.11x	742.11x	459.28x	641.41x	1133.26x	166.65x
	4.70x	2.71x	2.45x	2.82x	3.07x	2.44x	2.76x	3.20x	5.05x	2.99x
GROWTH
Revenue Growth %	-21.68%	-9.01%	-24.92%	-7.58%	-10.42%	-3.87%	47.08%	28.72%	14.69%	-4.13%
Operating Profit Growth %	-22.29%	-42.19%	-8.10%	21.59%	4.08%	-6.20%	73.26%	19.66%	11.63%	-1.63%
Net Profit Growth %	2063.03%	-74.59%	-109.47%	167.37%	181.89%	15.72%	-36.55%	27.22%	14.62%	-3.33%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	27.22%	14.63%	-3.33%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	12.79x	22.50x	21.55x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.42x	0.81x	0.72x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	17.19x	24.63x	22.17x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	26.95	26.95	26.95	26.95	26.95	26.95	26.95	26.89	26.82
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	2.48	2.45	2.43	2.35	2.34	2.34	2.34	2.35	2.35
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	70.57	70.60	70.62	70.70	70.70	70.70	70.70	70.77	70.83

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

No announcements filed.

News

Recent coverage and analyst commentary for ATVPROJ

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AI Stock Analyst

ATV Projects India Ltd.

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Free 5nance Account

Name

BHEL

426.90

61.11

148649.28

0.33

376.71

182.70

7697.72

40.29

9.24

6.69

THERMAX

3752.55

75.36

44714.00

0.53

21.79

-85.61

2302.73

7.09

15.85

2.98

INDOMIM

888.45

82.34

43932.16

0.67

2401.22

—

12187.42

—

24.48

33.36

KIRLOSENG

2160.85

57.58

31444.66

0.32

1110.60

699.45

19995.30

1034.94

14.46

15.02

JYOTICNC

959.90

67.86

21830.34

0.00

57.14

-19.99

508.47

23.97

23.88

21.40

INOXINDIA

2097.85

74.72

19040.82

0.10

58.07

-4.98

370.79

9.18

33.54

20.46

AZAD

2783.75

129.36

17977.94

0.00

351.60

1094.62

1725.99

1159.00

12.28

37.29

TRITURBINE

565.00

53.41

17961.26

0.75

51.10

-20.65

442.70

19.23

35.95

11.59

LLOYDSENGG

82.81

57.42

12844.15

0.30

68.23

-77.28

527.15

142.92

17.99

15.04

TEGA

1540.80

547.86

11575.68

0.13

-1082.52

-3163.59

17234.42

4739.88

8.37

3.27

KENNAMET

4650.90

87.29

10221.86

0.00

31.50

11.31

267.30

12.55

18.99

17.51

ATVPROJ

24.88

18.42

132.16

0.00

2.03

1.14

20.62

35.15

2.87

11.36

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

Operating Profit

OPM %

16.25%

11.51%

12.53%

9.27%

9.38%

10.13%

11.87%

12.49%

14.55%

12.33%

10.25%

11.79%

11.36%

Other Income

Interest

Depreciation

Tax %

-1.00%

-1.20%

-1.67%

0.00%

-1.27%

0.00%

-0.60%

-0.39%

-0.50%

0.00%

-0.62%

-0.98%

-0.79%

Net Profit

Equity Capital

Reserves

Promoter Pledge %

0.00%

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

Operating Profit

—

OPM %

—

Other Income

Interest

Depreciation

151

-4

Tax %

-0

-2

-15

-2

-1

Net Profit

151

-4

EPS

—

Dividend Payout %

—

Minority Interest

Share of Associates

Adjusted EPS

-1

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

LIABILITIES

Equity Capital

126

127

130

131

134

140

146

153

161

Trade Payables

137

Total Liabilities

253

279

269

260

262

263

268

267

259

270

ASSETS

180

217

222

221

216

214

213

214

Cash & Bank

Total Assets

253

279

269

260

262

263

268

267

259

270

Total Debt

126

Net Working Capital

Contingent Liabilities

Book Value per Share

20.87

34.00

34.18

34.65

34.90

35.59

36.55

37.78

39.19

40.55

Face Value

10.00

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-14

-5

-1

Cash from Investing

-1

-0

-1

Cash from Financing

-0

-50

-7

-8

-0

-8

-4

-8

-6

-4

-1

-2

Free Cash Flow

-14

-16

-4

-5

-2

OCF / Net Profit

-0.09

0.53

-1.02

3.68

-0.70

0.62

-0.18

1.14

0.79

1.78

Cumulative 5-Year FCF

-30

-10

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

PER SHARE

EPS (₹)

28.78

7.31

-0.69

0.47

1.32

1.52

0.97

1.23

1.41

1.36

Book Value (₹)

20.87

34.00

34.18

34.65

34.90

35.59

36.55

37.78

39.19

40.55

Dividend per Share (₹)

0.00

Cash EPS (₹)

28.91

7.42

-0.50

0.64

1.48

1.70

1.21

1.45

1.61

1.58

PROFITABILITY

Operating Margin %

9.37%

6.11%

7.52%

9.89%

11.49%

11.21%

13.21%

12.11%

10.90%

12.11%

Net Margin %

245.13%

70.27%

-8.91%

6.50%

20.44%

24.61%

10.62%

10.49%

10.58%

ROE %

0.00%

26.66%

-2.03%

1.36%

3.78%

4.32%

2.68%

3.31%

3.66%

3.41%

ROCE %

61.09%

15.64%

-1.42%

1.14%

3.03%

2.87%

2.05%

2.59%

2.96%

2.87%

56.97%

14.47%

-1.33%

0.93%

2.65%

3.05%

1.91%

2.41%

2.81%

2.70%

EFFICIENCY

Debtor Days

252

266

175

Inventory Days

137

192

209

286

254

203

141

135

Payable Days

224

294

273

207

228

273

242

215

169

163

FINANCIAL HEALTH

Debt to Equity (x)

1.15x

0.43x

0.39x

0.34x

0.29x

0.28x

0.25x

0.21x

0.17x

Interest Coverage (x)

0.00x

-1882.58x

147.23x

589.11x

742.11x

459.28x

641.41x

1133.26x

166.65x

4.70x

2.71x

2.45x

2.82x

3.07x

2.44x

2.76x

3.20x

5.05x

2.99x

GROWTH

Revenue Growth %

-21.68%

-9.01%

-24.92%

-7.58%

-10.42%

-3.87%

47.08%

28.72%

14.69%

-4.13%

Operating Profit Growth %

-22.29%

-42.19%

-8.10%

21.59%

4.08%

-6.20%

73.26%

19.66%

11.63%

-1.63%

Net Profit Growth %

2063.03%

-74.59%

-109.47%

167.37%

181.89%

15.72%

-36.55%

27.22%

14.62%

-3.33%

0.00%

27.22%

14.63%

-3.33%

VALUATION

P/E (x)

0.00x

12.79x

22.50x

21.55x

P/B (x)

0.00x

0.42x

0.81x

0.72x

Dividend Yield %

0.00%

0.00x

17.19x

24.63x

22.17x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

26.95

26.89

26.82

FIIs

0.00

2.48

2.45

2.43

2.35

2.34

2.35

Government

0.00

70.57

70.60

70.62

70.70

70.77

70.83

ATV Projects India Ltd.

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Quarterly Results

Profit & Loss

Balance Sheet

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ATV Projects India Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI