Artson Ltd
Incorporated in 1978, Artson Engineering Ltd does supply of equipment, steel structure and site services for mechanical works[1]
- Market Cap ₹ 572 Cr.
- Current Price ₹ 155
- High / Low ₹ 217 / 125
- Stock P/E
- Book Value ₹ 0.71
- Dividend Yield 0.00 %
- ROCE 24.6 %
- ROE 124 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company is expected to give good quarter
Cons
- Stock is trading at 219 times its book value
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -6.97% over past five years.
- Company has high debtors of 216 days.
- Company's cost of borrowing seems high
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Industrial Manufacturing Industrial Products
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 79 | 65 | 110 | 101 | 132 | 158 | 163 | 150 | 173 | 131 | 128 | 114 | 176 | |
| 81 | 62 | 106 | 96 | 129 | 153 | 152 | 146 | 166 | 142 | 114 | 116 | 183 | |
| Operating Profit | -2 | 3 | 4 | 4 | 3 | 5 | 11 | 4 | 7 | -11 | 14 | -2 | -7 |
| OPM % | -3% | 5% | 4% | 4% | 2% | 3% | 7% | 3% | 4% | -8% | 11% | -2% | -4% |
| 0 | 0 | 3 | 6 | 9 | 3 | 7 | 2 | 1 | 1 | 1 | 19 | 0 | |
| Interest | 5 | 3 | 4 | 4 | 5 | 7 | 10 | 10 | 11 | 10 | 10 | 10 | 9 |
| Depreciation | 2 | 2 | 2 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 2 | 2 | 2 |
| Profit before tax | -8 | -2 | 2 | 6 | 5 | 0 | 6 | -5 | -4 | -21 | 2 | 5 | -19 |
| Tax % | 0% | 0% | 0% | -378% | 76% | 1,508% | 112% | 11% | 15% | 12% | -163% | 27% | |
| -8 | -2 | 2 | 27 | 1 | -2 | -1 | -6 | -5 | -24 | 6 | 3 | -14 | |
| EPS in Rs | -2.26 | -0.54 | 0.46 | 7.36 | 0.35 | -0.46 | -0.20 | -1.54 | -1.36 | -6.37 | 1.64 | 0.94 | -3.70 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | -7% |
| 3 Years: | -13% |
| TTM: | 102% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | 46% |
| 3 Years: | 39% |
| TTM: | -424% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 27% |
| 3 Years: | 33% |
| 1 Year: | -10% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | 124% |
Balance Sheet
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Reserves | -67 | -70 | -66 | 2 | 2 | 2 | 1 | -4 | -3 | -19 | -3 | 1 | -1 |
| 61 | 61 | 63 | 20 | 26 | 33 | 58 | 54 | 53 | 59 | 64 | 49 | 49 | |
| 73 | 69 | 111 | 75 | 78 | 106 | 96 | 121 | 87 | 112 | 86 | 121 | 93 | |
| Total Liabilities | 70 | 64 | 112 | 102 | 110 | 144 | 160 | 175 | 141 | 156 | 151 | 175 | 144 |
| 9 | 7 | 4 | 4 | 5 | 5 | 10 | 10 | 11 | 12 | 17 | 14 | 14 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 61 | 58 | 108 | 98 | 105 | 139 | 150 | 165 | 129 | 144 | 134 | 161 | 127 | |
| Total Assets | 70 | 64 | 112 | 102 | 110 | 144 | 160 | 175 | 141 | 156 | 151 | 175 | 144 |
Cash Flows
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 11 | 1 | 11 | 1 | -0 | 3 | -13 | 16 | 14 | -4 | -4 | 20 | |
| -0 | 1 | -0 | 0 | -2 | -2 | -5 | -2 | -2 | -2 | -1 | 7 | |
| -10 | -2 | -4 | -11 | -4 | -5 | -8 | 7 | -16 | 7 | 5 | -23 | |
| Net Cash Flow | 1 | -0 | 6 | -9 | -6 | -5 | -26 | 21 | -4 | 0 | -0 | 5 |
| Free Cash Flow | 10 | 1 | 11 | 1 | -3 | 2 | -18 | 14 | 12 | -7 | -7 | 18 |
| CFO/OP | -493% | 17% | 283% | 26% | -17% | 22% | -113% | 384% | 214% | 30% | -34% | -709% |
Ratios
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 46 | 90 | 202 | 103 | 76 | 81 | 71 | 155 | 121 | 149 | 129 | 216 |
| Inventory Days | 283 | 242 | 129 | 148 | 165 | 83 | 96 | 59 | 47 | 245 | 182 | 302 |
| Days Payable | 474 | 327 | 270 | 423 | 416 | 360 | 380 | 459 | 354 | 551 | 401 | 756 |
| Cash Conversion Cycle | -145 | 5 | 61 | -173 | -175 | -196 | -213 | -245 | -187 | -157 | -91 | -239 |
| Working Capital Days | -233 | -271 | -160 | -45 | -21 | -45 | -3 | -30 | -29 | -53 | -18 | 10 |
| ROCE % | -85% | 71% | 38% | 20% | 32% | 9% | 12% | -22% | 23% | 25% |
Insights
In beta| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Manufacturing Sales (Structurals) MT |
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| Number of Permanent Employees Count |
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| Order Backlog / Unexecuted Order Book INR Lakhs |
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| Nagpur Unit Production (Structural Fabrication) MT |
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| Nashik Unit Production (Process Equipment) MT |
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| Employee Attrition Rate % |
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| Cumulative Safe Man-Hours (GRSE Project) Million Hours |
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| Installed Fabrication Capacity MT per annum |
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| Parli Unit Production (Fabricated Steel) MT |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
22 Apr - Newspaper publication for Notice of Postal Ballot and e-voting information circulated to the shareholders - details enclosed.
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Shareholder Meeting / Postal Ballot-Notice of Postal Ballot
21 Apr - Postal ballot on 4 resolutions: two director appointments, independent director reappointment, and CEO reappointment for 2026-2029.
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
15 Apr - Artson’s Sadhav Offshore order was amended on 15 Apr 2026, increasing value by Rs. 10.50 crore to Rs. 72.05 crore.
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Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
14 Apr - Artson confirms it is not a Large Corporate under SEBI circulars; borrowing was Rs. 53.35 crore.
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Compliances-Reg.24(A)-Annual Secretarial Compliance
14 Apr - Annual Secretarial Compliance Report not applicable for FY ended 31 March 2026.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Business Overview:[1]
AEL is a subsidiary of Tata Projects Ltd. It is a design, EPC company in the oil, gas and hydrocarbon processing industry, and is also engaged in structural fabrication works. Company specializez in tankages, piping and other mechanical packages. It used to bid for engineering procurement and construction (EPC) projects but has temporarily paused bidding for the same. However, AEL continues to secure EPC orders from TPL. Currently, company is focussing more on ship building and manufacturing activities