SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Art Nirman Ltd (ARTNIRMAN)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 0 NSE: ARTNIRMAN Construction - Real Estate | Small Cap | Art Nirman Share Price

BSE Share Price
Not Listed

Art Nirman Ltd (ARTNIRMAN)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 0 NSE: ARTNIRMAN Construction - Real Estate | Small Cap | Art Nirman Share Price

BSE Share Price
Not Listed
Key Metrics
Valuation Multiples
Market Cap
₹107 Cr.
Current Price
₹0
52-Week Low / High
₹0 / 0
TTM EPS
₹0.2
TTM Sales
₹33.2 Cr.
Book Value per Share
₹14.9
P/E Ratio
205.55
Higher than its 5-year historical median
Industry PE
42.8
Price to Book (P/B)
2.87
Lower than its 5-year historical median
Price to Sales (P/S)
3.22
Lower than its 5-year historical median
EV/EBITDA
32.52
Lower than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
5.49%
Outperforms industry median
Return on Capital Employed (ROCE)
6.61%
Outperforms industry median
Return on Assets (ROA)
3.27%
Operating Profit Margin
12%
Net Profit Margin
7.28%
Gross Profit Margin
9.3%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-20.12%
Operating Profit Growth (1 Year)
-
60.78%
Net Profit Growth (1 Year)
-
68.64%
Asset Quality
Promoter Holding
73.75%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹12 Cr.
Equity
₹25 Cr.
Face Value
₹10
All Time Low / High
- / -

Art Nirman stock performance

Key Ratios
mw4me loader

Check Before You Invest

Quality

Locked
Login to view analysis.

Valuation

Locked
Login to view analysis.

Price Trend

Locked
Login to view analysis.
Q.1 Is Art Nirman Ltd a good quality company?
Art Nirman Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Art Nirman Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Art Nirman Ltd vs industry peers?
Art Nirman Ltd revenue CAGR is -15.11%, compared to the industry median CAGR of 0.00%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Art Nirman Ltd?
Promoters hold 73.75% of the Art Nirman Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Art Nirman Ltd over the last decade?
Over the last 5 year(s), the stock has delivered a CAGR of 5.13% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Art Nirman Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 12.6%5.7%13.1%12.6%9.8%3.1%-25.1%0.8%4.6%6.6%-
Value Creation
Index
-0.1-0.6-0.1-0.1-0.3-0.8-2.8-0.9-0.7-0.5-

Growth Parameters

Sales 25.625.734.518.962.185.136.819.734.327.433
Sales YoY Gr.-0.4%34.2%-45.3%228.9%36.9%-56.7%-46.5%73.9%-20.1%-
Adj EPS 1.30.51.51.10.30-4.40.10.50.80.2
YoY Gr.--62.5%206.3%-26.5%-69.4%-97%-44200%NA840%70.2%-
BVPS (₹) 11.318.319.719.5181813.613.714.114.914.9
Adj Net
Profit
0.50.41.11.30.80-110.11.221
Cash Flow from Ops. 1.8-41.4-13.823.4-7.219.89.3-7.31.6-13.4-
Debt/CF from Ops. 1.2-0.4-4.52.1-4.70.30-0.41.8-1.4-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 0.8%-15.1%-9.4%-20.1%
Adj EPS -5.1%19.4%NA70.2%
BVPS3.2%-3.7%3.1%5.7%
Share Price - 6% -0.7% -17.9%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
22.747.862.20-27.80.33.45.51.4
Op. Profit
Mgn %
4.94.621.752.813.53-26.94.961214.9
Net Profit
Mgn %
21.43.371.30-29.90.63.47.31.6
Debt to
Equity
0.51.34.12.10.80.100.10.10.52
Working Cap
Days
2895668602,350798392434731477694415
Cash Conv.
Cycle
2274085881,411673329341516215340284

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales26263519628537203427
Operating Expenses + 2425279548247193224
Manufacturing Costs3691815327523
Material Costs17139-16337236920-2
Employee Cost 0112211111
Other Costs 5595478262
Operating Profit 1171083-10123
Operating Profit Margin (%) 4.9%4.6%21.7%52.8%13.4%3.0%-26.9%4.9%6.0%12.0%
Other Income + 0001000000
Exceptional Items 0000000000
Interest 0068620011
Depreciation 0011111111
Profit Before Tax 112210-11012
Tax 00010-0-0-0-0-0
Profit After Tax 101110-11012
PAT Margin (%) 2.0%1.4%3.3%7.0%1.3%0.0%-29.9%0.6%3.4%7.3%
Adjusted EPS (₹)1.30.51.51.10.30.0-4.40.00.50.8
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Art Nirman - Standalone

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 5141524454534343537
Share Capital 48812252525252525
Reserves 167122020991012
Debt +218512319503318
Long Term Debt218492319502318
Short Term Debt0020000000
Minority Interest0000000000
Trade Payables18914942777
Others Liabilities 1136359465109987
Total Liabilities 18751111541386345525369

Fixed Assets

Net Fixed Assets +11099876655
Gross Block1101111111111111111
Accumulated Depreciation0112344566
CWIP 0000000000
Investments 0000000000
Inventories16457011399338141942
Trade Receivables0819242114182332
Cash Equivalents 0222215044
Others Assets 21011687792116
Total Assets 18751111541386345525369

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 2-41-1423-7209-72-13
PBT 112210-11012
Adjustment 1068721113
Changes in Working Capital 1-42-2114-151719-8-1-18
Tax Paid -0-0-0-0-000000
Cash Flow From Investing Activity + -0-90000-00-1-0
Capex -0-9-0-0-0-0-0-00-0
Net Investments 0000000000
Others 001100-0-0-1-0
Cash Flow From Financing Activity -15313-236-21-52-013
Net Proceeds from Shares + 00071500000
Net Proceeds from Borrowing -1440000-52015
Interest Paid -0-0-6-8-6-2-0-0-1-2
Dividend Paid 0000000000
Others 0918-23-3-19-0000
Net Cash Flow 02-10-1-14-50-0

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)22.73.977.766.812.380.05-27.840.333.45.49
ROCE (%)12.575.7313.1212.69.773.11-25.080.824.596.61
Asset Turnover Ratio1.210.550.370.140.420.840.680.410.650.45
PAT to CFO Conversion(x)2N/A-1423-7N/AN/AN/A2-6.5
Working Capital Days
Receivable Days0108140.60418.50132.9075.20159379.10140.1038.80
Inventory Days250.90430.10606.801,761622.20284.30205.40208.70177.90408.80
Payable Days29121351.10-264.5012932.8025.50168.60125.50-1,262.30

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Art Nirman Ltd FAQs

The current trading price of Art Nirman on 01-Jan-1970 05:30 is ₹0.00.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 31-Dec-1969 the market cap of Art Nirman stood at ₹106.9 Cr

The latest P/E ratio of Art Nirman as of 31-Dec-1969 is 205.6.

The latest P/B ratio of Art Nirman as of 31-Dec-1969 is 2.87.

The 52-week high of Art Nirman is ₹0.00 and the 52-week low is ₹0.00.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Art Nirman is ₹33.24 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Art Nirman Ltd is a below average quality company.

The key valuation ratios of Art Nirman Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Art Nirman Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Art Nirman Ltd

Art Nirman was incorporated in the year 2011, with a vision to carry on the business of real estate development in and around the city of Ahmedabad, Gujarat. In 2013, it started construction of its first residential cum commercial project “Shri Vishnudhara Cross Road” in Ahmedabad, in Joint Development Agreement with its Director, Dharmishtaben Thakker, owner of the project land. It successfully completed construction of “Shri Vishnudhara Cross Road” project in the year 2016, which consist of 5 towers containing total of 154 residential apartments of 2 and 3 BHK and 25 commercial shops, with a total built up area of 2,09,701 sq. ft. (aprox.) As on date of prospectus, it has successfully sold 129 residential flats and 21 commercial offices in its “Shri Vishnudhara Cross Road” project. Further, it has received bookings for 23 residential flats and 4 commercial flats from the Customers for the said project.

The company also undertakes work contracts for the development of residential & commercial projects. Currently, it has one ongoing work contract which has been undertaken from its Promoter Group firm Dhara Developers, for carrying out activities such as plastering, tiles fitting, painting, electrical fitting, plumbing, doors and windows fitting, etc. in a residential cum commercial project, “Vishnudhara Homes” located in Ahmedabad. Further, it has received offer from its Group Companies for carrying out construction work in their forthcoming projects, which will be of building a hotel and a club under Contract. The company is yet to consider their offers as the approved site plans, Contract terms and other details of the projects, has not been finalized by its Group Companies.

Business area of the company

The company is Ahmedabad, Gujarat based real estate developer involved in development of residential & commercial projects. The company carries all the construction activities by subcontracting the project work to third party contractors.

Milestones

  • 2011: Incorporation of the Company in the name and style of “Vishnudhara Builders Private Limited”.
  • 2011: Change in the name of the company from “Vishnudhara Builders Private Limited” to “Vishnudhara Buildcon Private Limited”.
  • 2011: Change in the name of the company from “Vishnudhara Buildcon Private Limited” to “Art Nirman Private Limited”.
  • 2013: Commenced construction and development work of its first residential cum commercial project “ShriVishnudhara Cross Road”.
  • 2016: Completed Construction and development work of the project “Shri Vishnudhara Cross Road”.
  • 2016: Conversion of the company from Private Limited to Public Limited Company.

 

To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×