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Conart Engineers Ltd (522231)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 522231 NSE: Engineering - Construction | Small Cap | Conart Engineers Share Price

₹98.90 -2.10 (-2.08%)

As on 04-Jun'26 16:59

Conart Engineers Ltd (522231)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 522231 NSE: Engineering - Construction | Small Cap | Conart Engineers Share Price

₹98.90 -2.10 (-2.08%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹62 Cr.
Current Price
₹98.9
52-Week Low / High
₹60 / 139
TTM EPS
₹5.9
TTM Sales
₹62.2 Cr.
Book Value per Share
₹55.8
P/E Ratio
16.67
Higher than its 5-year historical median
Industry PE
29.9
Price to Book (P/B)
1.77
Higher than its 5-year historical median
Price to Sales (P/S)
1.00
Higher than its 5-year historical median
EV/EBITDA
10.12
Higher than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
8.76%
Outperforms industry median
Return on Capital Employed (ROCE)
12.72%
Outperforms industry median
Return on Assets (ROA)
6.97%
Operating Profit Margin
6.9%
Net Profit Margin
4.74%
Gross Profit Margin
7.8%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
15.63%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
11.36%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-12.99%
Asset Quality
Promoter Holding
44.24%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹32 Cr.
Equity
₹3.1 Cr.
Face Value
₹5
All Time Low / High
₹0.68 / 173.90

Conart Engineers stock performance

Key Ratios
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M-Cap below 100cr DeciZen not available

Q.1 Is Conart Engineers Ltd a good quality company?
Conart Engineers Ltd is a quality company, based on a 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 Conart Engineers Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Conart Engineers Ltd vs industry peers?
Conart Engineers Ltd revenue CAGR is 17.52%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Conart Engineers Ltd?
Promoters hold 44.24% of the Conart Engineers Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Conart Engineers Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 23.9% based on the current price.

10 Year X-Ray :

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.
Conart Engineers 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 % 11.6%12.8%9.9%12.1%7.8%6.8%7.8%10.6%12.9%12.7%-
Value Creation
Index
-0.2-0.1-0.3-0.1-0.4-0.5-0.4-0.2-0.1-0.1-

Growth Parameters

Sales 20.820.422.53125.221.736.635.548.956.562
Sales YoY Gr.--1.5%10.2%37.9%-18.7%-13.9%68.4%-2.9%37.8%15.6%-
Adj EPS 1.92.21.92.71.51.72.13.14.54.15.9
YoY Gr.-16.6%-11.9%39.6%-45.9%13.8%27.3%46.2%46.6%-9.1%-
BVPS (₹) 24.426.628.331.132.73436.740.346.251.255.8
Adj Net
Profit
1.11.31.21.70.911.31.92.82.64
Cash Flow from Ops. -0.40.11.3-0.51.92-1.54.10.94.9-
Debt/CF from Ops. -0.71.30.10000000-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 11.8%17.5%15.6%15.6%
Adj EPS 9.1%23.1%24.9%-9.1%
BVPS8.6%9.4%11.7%10.7%
Share Price 24% 47.4% 68.1% 1.6%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
88.67.194.556810.48.411.1
Op. Profit
Mgn %
8.19.58.27.55.64.24.98.27.36.96.2
Net Profit
Mgn %
5.46.45.45.43.64.83.65.45.84.56
Debt to
Equity
00000000000
Working Cap
Days
129172184168220224145156112115102
Cash Conv.
Cycle
53921099713414497108817873

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales20.7520.4322.5131.0325.2221.7136.5635.4948.8956.53
Operating Expenses + 19.0818.5020.6828.7223.8120.8134.8232.5745.3752.61
Manufacturing Costs8.768.0810.6513.018.569.7316.349.4219.9830.48
Material Costs7.557.766.7912.8112.458.6114.9419.6021.2618.11
Employee Cost 0.850.800.840.830.840.68-63.901.832.151.75
Other Costs 1.921.862.402.071.971.7967.441.721.982.26
Operating Profit 1.671.931.842.311.410.901.732.923.523.92
Operating Profit Margin (%) 8.1%9.4%8.2%7.4%5.6%4.2%4.7%8.2%7.2%6.9%
Other Income + 0.490.570.330.450.670.960.470.180.590.51
Exceptional Items 0000000000
Interest 0.030.050.0500.010.0100.030.030.02
Depreciation 0.510.520.490.500.510.440.470.540.600.54
Profit Before Tax 1.631.941.622.261.561.411.742.533.493.88
Tax 0.520.630.420.590.370.370.450.560.411.20
Profit After Tax 1.121.301.201.671.191.041.281.973.082.68
PAT Margin (%) 5.4%6.4%5.3%5.4%4.7%4.8%3.5%5.6%6.3%4.7%
Adjusted EPS (₹)1.92.21.92.71.91.72.13.14.94.3
Dividend Payout Ratio (%)0%0%0%0%26.40%0%0%0%0%0%

Valuation of Conart Engineers - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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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 + 14.6615.9617.7919.5420.5521.3623.0625.2829.0332.12
Share Capital 333.143.143.143.143.143.143.143.14
Reserves 11.6612.9614.6516.4017.4118.2219.9222.1425.8928.98
Debt +0.190.12000000.040.020.01
Long Term Debt0.190.12000000.040.020.01
Short Term Debt0000000000
Minority Interest0000000000
Trade Payables1.981.993.024.843.262.943.452.732.395.08
Others Liabilities 1.942.262.442.322.232.082.362.312.695.46
Total Liabilities 18.7720.3323.2426.7126.0326.3928.8730.3634.1342.67

Fixed Assets

Net Fixed Assets +3.823.383.113.502.992.763.935.304.725.23
Gross Block7.387.217.418.107.707.658.8910.6310.2611.06
Accumulated Depreciation3.563.834.304.604.724.884.965.335.545.83
CWIP 0.01000000000
Investments 2.052.075.154.898.178.407.357.7410.0911.56
Inventories2.091.972.804.182.835.014.926.694.189.03
Trade Receivables3.807.037.4310.769.516.409.986.1810.328.68
Cash Equivalents 4.294.272.911.910.851.350.572.772.585.82
Others Assets 2.711.611.841.471.692.462.121.672.252.35
Total Assets 18.7720.3323.2426.7126.0326.3928.8730.3634.1342.67

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + -0.410.141.25-0.491.931.99-1.484.070.914.91
PBT 1.631.941.621.761.561.411.742.533.493.88
Adjustment 0.200.150.290.850.33-0.330.140.440.100.07
Changes in Working Capital -2.16-2.08-0.18-2.690.410.59-3.151.47-1.881.85
Tax Paid -0.37-0.19-0.60-0.41-0.380.32-0.21-0.38-0.79-0.88
Cash Flow From Investing Activity + -0.61-0.05-3.21-0.44-2.74-1.150.70-1.88-1.08-1.65
Capex -0.92-0.07-0.22-0.880.41-0.22-1.64-1.920.01-0.96
Net Investments 0.29-0.03-3.060.27-3.20-0.912.320.02-1.14-0.75
Others 0.020.050.080.170.05-0.010.020.030.040.06
Cash Flow From Financing Activity + 0.22-0.110.60-0.07-0.39-0.01-00.01-0.03-0.03
Net Proceeds from Shares 000.720000000
Net Proceeds from Borrowing 00000000.04-0.01-0.01
Interest Paid 000-0-0.01-0.01-0-0.03-0.02-0.02
Dividend Paid 0000-0.3100000
Others 0.22-0.11-0.12-0.07-0.06000-00
Net Cash Flow -0.80-0.02-1.36-1-1.200.83-0.782.20-0.203.24

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)7.918.517.128.965.944.945.788.1711.358.76
ROCE (%)11.612.759.8512.17.846.797.8210.5812.9212.72
Asset Turnover Ratio1.161.051.031.240.960.831.321.21.521.47
PAT to CFO Conversion(x)-0.370.111.04-0.291.621.91-1.162.070.31.83
Working Capital Days
Receivable Days58.7096.70117.20107146.70133.7081.8083.1061.6061.30
Inventory Days26.5036.3038.7041.1050.806649.6059.7040.6042.70
Payable Days78.8093.40134.60112118.80131.3078.1057.604475.20

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

Conart Engineers Ltd FAQs

The current trading price of Conart Engineers on 04-Jun-2026 16:59 is ₹98.90.

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 03-Jun-2026 the market cap of Conart Engineers stood at ₹62.11 Cr

The latest P/E ratio of Conart Engineers as of 03-Jun-2026 is 16.67.

The latest P/B ratio of Conart Engineers as of 03-Jun-2026 is 1.77.

The 52-week high of Conart Engineers is ₹139.0 and the 52-week low is ₹60.00.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Conart Engineers is ₹62.23 ( Cr.) .

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

The key valuation ratios of Conart Engineers Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Conart Engineers Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Conart Engineers Ltd

Conart Engineers was promoted by Vinod Sura, as Conart Builders Private Limited, on December 14, 1973. The company is one of the leading companies involved in detailed engineering, procurement and construction of industrial, commercial, residential and infrastructures. The company is backed by a qualified and experienced management, dedicated employees, adequate manpower and equipment resources, and an ISO 9000 certified Quality Management System.

The company has a proven track record of successful project completions, several awards and recognitions, which has enabled it to maintain the existing clientele and secure new ones.

A high level of interaction exists within the organisation. Implementation of ideas is considered from the grass root level, which is the essence of a healthy relationship between the employees and the management.

A performance-based incentive that offers advancement in the hierarchy is an added motivation for the employees.

Current projects of the company:

  • Weavette Textile Pvt Ltd. for a contract value of Rs 30 lakh
  • Pantaloon Retail (I) Ltd., Pantaloon House, G-11, Andheri( Mumbai) contract worth Rs 2 crore.
  • RPG Life Sciences Limited contract value worth Rs 2.86 crore.
  • Calyx Chemicals & Pharmaceuticals contract value worth Rs 70 lakh and many more.

Clientele:

Advani Oerlikon Ltd, Mumbai ,  Astral Glass Pvt. Ltd, Mumbai, Bell Ceramics Ltd, Vadodara, Chirag Pack India Pvt. Ltd, Mumbai, Conway Printers Pvt. Ltd, Mumbai, Denta Brushes Pvt. Ltd, Vadodara, General Motors India Limited, Halol ( Gujarat ),  Hindustan Gum & Chemicals Ltd, Ahmedabad, Indrox Global Pvt. Ltd, Delhi  Jewel Brushes Pvt. Ltd, Vadodara and many more.

The company has undertaken construction for various industries

  • Pharmaceutical 
  • Chemical 
  • Petrochemical 
  • Textile 
  • Heavy Engineering
  • Manufacturing 

Achievements/ recognition:

  • ACCE Award.  1999- The company is a recipient of ACCE L & T Endowment Award - 1999 for Excellence in Construction of Industrial Structure for the Construction of Turbine Generator Workshop for M/s. Asea Brown Boveri Ltd. at Maneja,Vadodara, Gujarat.
  • ISO 9001  Certification - accredited by Joint Accreditation System of Australia and New Zealand (JAS-ANZ) to comply with ISO 9001, 2000 requirements.
  • NICMAR  - 200 Listing- The company has made it to within the top NICMAR-200 - the list of India's fastest growing companies in construction sector
  • The company's projects have been published in well known Construction Industry Magazines.
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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.

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