ARTNIRMAN

Art Nirman Limited

Art Nirman Limited (ARTNIRMAN) financial statements and selected valuation metrics through 30 June 2026.

Consumer Discretionary›Realty›Realty›Residential, Commercial Projects

artnirman.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹38.19
Market cap
95 Cr
Stock P/E
240.1
P/B
2.56
ROE (FY26)
1.4%
ROCE (FY26)
4.4%
Operating margin (FY26)
13.5%
Debt / equity (FY26)
1.96
OCF / EBITDA (FY26)
-954.8%
OCF / EBITDA (3Y)
-581.7%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Art Nirman is an Ahmedabad-based real estate company that reports a single "Real Estate" segment, with all its business in India.

Company snapshot

72ndBy market cap

Ranked among 79 companies in Residential, Commercial Projects.

What we see

Concerns
  • ✗Net margin is very thin at 1.6% — little room for error if costs rise.
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Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Standalone only

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales12 Cr4 Cr13 Cr6 Cr8 Cr5 Cr9 Cr2 Cr7 Cr3 Cr22 Cr2 Cr
Operating expenses (approx.)11 Cr4 Cr13 Cr5 Cr8 Cr4 Cr7 Cr2 Cr5 Cr2 Cr19 Cr2 Cr
EBITDA0.82 Cr0.23 Cr0.78 Cr0.51 Cr0.63 Cr0.32 Cr2 Cr-0.02 Cr1 Cr0.13 Cr4 Cr-0.08 Cr
OPM %6.8%6.2%5.9%9.3%7.4%7.1%20.4%-1.4%19.8%5.1%15.6%-3.9%
Other income0.03 Cr0.02 Cr0.12 Cr0.08 Cr0.09 Cr0.14 Cr0.09 Cr0.12 Cr0.05 Cr0.09 Cr0.10 Cr0.11 Cr
Interest0.0023 Cr0.0016 Cr0.56 Cr0.02 Cr0.02 Cr0.02 Cr1 Cr0.03 Cr0.84 Cr0.04 Cr3 Cr0.04 Cr
Depreciation0.17 Cr0.17 Cr0.16 Cr0.16 Cr0.16 Cr0.16 Cr0.09 Cr0.14 Cr0.12 Cr0.11 Cr0.10 Cr0.15 Cr
Profit before tax0.67 Cr0.08 Cr0.19 Cr0.41 Cr0.53 Cr0.28 Cr0.75 Cr-0.07 Cr0.43 Cr0.07 Cr0.22 Cr-0.16 Cr
Tax %0.0%0.0%-17.6%0.0%0.0%0.0%-3.6%0.0%0.0%0.0%58.9%0.0%
Net profit0.67 Cr0.08 Cr0.22 Cr0.41 Cr0.53 Cr0.28 Cr0.77 Cr-0.07 Cr0.43 Cr0.07 Cr0.09 Cr-0.20 Cr
EPS (₹)₹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 (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales85 Cr37 Cr20 Cr34 Cr27 Cr33 CrSign in free for the trailing twelve months
Operating expenses (approx.)82 Cr47 Cr19 Cr32 Cr24 Cr28 CrSign in free for the trailing twelve months
EBITDA3 Cr-10 Cr0.97 Cr2 Cr3 Cr5 CrSign in free for the trailing twelve months
OPM %3.0%-26.9%4.9%6.0%12.0%14.9%Sign in free for the trailing twelve months
Other income0.14 Cr0.06 Cr0.03 Cr0.35 Cr0.40 Cr0.36 CrSign in free for the trailing twelve months
Interest2 Cr0.45 Cr0.21 Cr0.57 Cr1 Cr4 CrSign in free for the trailing twelve months
Depreciation0.73 Cr0.71 Cr0.71 Cr0.68 Cr0.58 Cr0.48 CrSign in free for the trailing twelve months
Profit before tax0.01 Cr-11 Cr0.08 Cr1 Cr2 Cr0.65 CrSign in free for the trailing twelve months
Tax %-88.9%0.1%-34.2%-2.8%-1.4%19.8%Sign in free for the trailing twelve months
Net profit0.02 Cr-11 Cr0.11 Cr1 Cr2 Cr0.52 CrSign in free for the trailing twelve months
EPS (₹)₹0.01₹-4.41₹0.04₹0.47₹0.80₹0.21Sign in free for the trailing twelve months
Dividend payout %——0.0%0.0%0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital25 Cr25 Cr25 Cr25 Cr25 Cr25 Cr
Reserves20 Cr9 Cr9 Cr10 Cr12 Cr12 Cr
Borrowings5 Cr0.23 Cr0.23 Cr3 Cr18 Cr73 Cr
Other liabilities13 Cr11 Cr11 Cr15 Cr13 Cr32 Cr
Total liabilities63 Cr45 Cr45 Cr53 Cr69 Cr142 Cr
Fixed assets (net)7 Cr6 Cr6 Cr5 Cr5 Cr4 Cr
CWIP——0 Cr0 Cr0 Cr0 Cr
Investments0.34 Cr0.32 Cr0.32 Cr0 Cr0 Cr0 Cr
Loans & advances——0 Cr16 Cr5 Cr14 Cr
Inventories33 Cr8 Cr8 Cr19 Cr42 Cr75 Cr
Trade receivables14 Cr18 Cr18 Cr3 Cr2 Cr19 Cr
Cash & bank1 Cr5 Cr5 Cr0.48 Cr0.10 Cr3 Cr
Other assets7 Cr7 Cr7 Cr9 Cr14 Cr27 Cr
Total assets63 Cr45 Cr45 Cr53 Cr69 Cr142 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity20 Cr9 Cr-7 Cr2 Cr-14 Cr-47 Cr
Cash from investing0.19 Cr-0.04 Cr0.25 Cr-1 Cr0.16 Cr-0.92 Cr
Cash from financing-21 Cr-5 Cr2 Cr-0.18 Cr14 Cr51 Cr
Net cash flow-0.56 Cr4 Cr-5 Cr0.28 Cr-0.38 Cr3 Cr
Free cash flow (OCF − Capex)20 Cr9 Cr-7 Cr2 Cr-14 Cr-47 Cr

Ratios

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %4.0%-30.8%0.8%4.5%5.6%4.4%
ROE %0.0%-32.3%0.3%3.3%5.3%1.4%
Debtor days601773313533212
Inventory days20912632142747261900
Days payable220514197115628
Cash conversion cycle19313905052126451484
OCF / EBITDA %766.8%—-751.0%77.7%-428.4%-954.8%
OCF / EBITDA % (3 years)————-314.0%-581.7%
Debt / equity0.110.00670.00670.080.481.96
Current ratio6.657.087.083.995.574.48
Net debt / EBITDA1.49—-5.071.205.4814.20