Artefact Projects Ltd

₹ 55.5 -9.42%

29 May - close price

About

Incorporated in 1987, Artefact Projects Ltd
is in the business of project consultancy as consulting engineers, architects and planners^[1]

Key Points

Business Overview:^[1]^[2]
APL is an infrastructure development consultant with expertise in Highways, Structures, and Infra projects. It specializes in delivering end-to-end consultancy solutions for highways and transportation infrastructure, and provides comprehensive services spanning engineering, planning, design, and project management.

Website BSE

Market Cap ₹ 40.4 Cr.
Current Price ₹ 55.5
High / Low ₹ 82.0 / 53.7
Stock P/E 7.68
Book Value ₹ 97.1
Dividend Yield 0.90 %
ROCE 10.2 %
ROE 7.72 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.57 times its book value

Cons

Promoter holding is low: 39.1%
Company has a low return on equity of 9.46% over last 3 years.
Earnings include an other income of Rs.3.85 Cr.
Company has high debtors of 186 days.

* 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

Services Services Commercial Services & Supplies Consulting Services

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	5.23	4.23	6.44	6.38	7.12	3.12	6.85	7.33	12.74	2.21	8.97	6.74	14.33
	4.56	3.57	5.14	5.17	7.39	2.25	5.38	5.36	7.39	1.64	7.24	5.16	13.19
Operating Profit	0.67	0.66	1.30	1.21	-0.27	0.87	1.47	1.97	5.35	0.57	1.73	1.58	1.14
OPM %	12.81%	15.60%	20.19%	18.97%	-3.79%	27.88%	21.46%	26.88%	41.99%	25.79%	19.29%	23.44%	7.96%
	2.75	1.00	1.08	1.09	1.20	1.21	1.25	0.26	1.16	1.31	1.04	1.13	0.37
Interest	0.40	0.24	0.57	0.38	0.48	0.41	0.42	0.42	0.48	0.42	0.42	0.37	0.41
Depreciation	0.10	0.10	0.10	0.10	0.09	0.09	0.10	0.11	0.09	0.11	0.11	0.12	0.09
Profit before tax	2.92	1.32	1.71	1.82	0.36	1.58	2.20	1.70	5.94	1.35	2.24	2.22	1.01
Tax %	19.52%	3.03%	-11.70%	0.00%	38.89%	8.86%	19.09%	27.06%	2.36%	24.44%	25.45%	20.72%	14.85%
	2.36	1.27	1.91	1.82	0.22	1.44	1.78	1.24	5.80	1.02	1.67	1.77	0.86
EPS in Rs	3.24	1.75	2.63	2.50	0.30	1.98	2.45	1.70	7.97	1.40	2.30	2.43	1.18
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	19.87	15.99	23.01	21.56	22.56	31.90	32.09	23.57	18.17	24.17	30.04	32.25
	15.69	12.72	20.31	21.69	18.60	26.10	27.40	18.63	14.72	21.29	23.43	27.22
Operating Profit	4.18	3.27	2.70	-0.13	3.96	5.80	4.69	4.94	3.45	2.88	6.61	5.03
OPM %	21.04%	20.45%	11.73%	-0.60%	17.55%	18.18%	14.62%	20.96%	18.99%	11.92%	22.00%	15.60%
	1.16	1.24	2.32	2.54	1.33	2.37	3.76	3.53	5.51	4.38	4.02	3.85
Interest	3.08	3.24	3.69	4.45	3.64	2.70	2.27	2.39	1.98	1.66	1.67	1.64
Depreciation	0.85	0.81	0.80	0.82	0.84	1.02	0.83	0.57	0.50	0.39	0.42	0.43
Profit before tax	1.41	0.46	0.53	-2.86	0.81	4.45	5.35	5.51	6.48	5.21	8.54	6.81
Tax %	35.46%	97.83%	60.38%	8.39%	-62.96%	19.55%	26.54%	25.05%	17.59%	-0.38%	12.88%	23.35%
	0.90	0.01	0.20	-3.10	1.32	3.59	3.92	4.14	5.34	5.23	7.43	5.23
EPS in Rs	1.63	0.02	0.36	-5.61	2.39	6.19	5.39	5.69	7.34	7.19	10.21	7.19
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.90%	0.00%

Compounded Sales Growth
10 Years:	7%
5 Years:	0%
3 Years:	21%
TTM:	7%

Compounded Profit Growth
10 Years:	87%
5 Years:	12%
3 Years:	11%
TTM:	-28%

Stock Price CAGR
10 Years:	5%
5 Years:	9%
3 Years:	1%
1 Year:	-28%

Return on Equity
10 Years:	6%
5 Years:	9%
3 Years:	9%
Last Year:	8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	5.53	5.53	5.53	5.53	5.53	5.80	7.28	7.28	7.28	7.28	7.28	7.28
Reserves	29.72	29.73	29.93	26.84	28.15	33.67	39.72	42.84	48.38	52.01	58.40	63.34
	15.16	18.51	16.71	17.93	17.42	9.53	16.28	18.35	11.80	10.08	14.64	15.22
	14.47	14.37	18.76	19.57	24.79	18.38	19.11	17.65	24.01	28.80	22.24	28.66
Total Liabilities	64.88	68.14	70.93	69.87	75.89	67.38	82.39	86.12	91.47	98.17	102.56	114.50
	23.77	22.87	22.28	21.85	21.19	17.04	16.28	15.71	11.82	11.52	12.22	13.69
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.35	1.03	0.00
Investments	10.40	4.90	10.90	12.90	12.90	12.90	13.16	13.19	13.06	13.06	0.16	0.09
	30.71	40.37	37.75	35.12	41.80	37.44	52.95	57.22	66.59	73.24	89.15	100.72
Total Assets	64.88	68.14	70.93	69.87	75.89	67.38	82.39	86.12	91.47	98.17	102.56	114.50

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	4.05	-6.73	9.32	4.02	5.03	1.99	-6.78	-3.92	-1.24	-0.44	-19.02	-0.29
	0.83	6.26	-4.32	-1.41	-1.56	6.80	-0.91	4.14	8.95	3.83	16.00	1.43
	-6.24	0.56	-4.86	-3.53	-4.91	-8.77	7.83	-0.32	-7.52	-3.39	2.89	-1.05
Net Cash Flow	-1.36	0.09	0.14	-0.92	-1.43	0.02	0.13	-0.11	0.19	0.00	-0.14	0.09
Free Cash Flow	3.89	-6.75	9.11	3.62	4.85	6.09	-5.47	-3.93	3.97	-0.88	-20.81	-1.17
CFO/OP	43%	-135%	350%	-3,100%	127%	7%	-231%	-96%	-36%	-15%	-288%	-6%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	307.87	352.22	285.21	312.86	365.97	167.74	169.70	210.45	296.10	238.30	149.45	185.73
Inventory Days												446.81
Days Payable												1,319.45
Cash Conversion Cycle	307.87	352.22	285.21	312.86	365.97	167.74	169.70	210.45	296.10	238.30	149.45	-686.92
Working Capital Days	-52.90	224.16	92.64	-2.54	70.38	121.17	231.35	377.08	675.36	473.73	229.04	279.32
ROCE %	8.70%	7.31%	7.97%	3.10%	8.78%	12.79%	11.36%	11.99%	9.78%	10.03%	13.45%	10.22%

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

Operating Ratio
percentage

xx.xx	xx.xx	x.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx	x,xxx.xx	x,xxx.xx	xxx,xxx.xx
	xxx	xxx	xxx	xxx	xxx	x,xxx	x,xxx	x,xxx	x,xxx	xxx	x,xxx
			xxx		xxx	x,xxx	x,xxx	xx,xxx	xx,xxx	xxx	x,xxx
					xx	xxx	xxx	xxx	xxx	xx

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Revenue from Operations (Fee Income)
₹ Lacs

Total Number of Employees
count

Order Book Value
₹ Crores

Number of Ongoing Projects
count

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	39.09%	39.09%	39.09%	39.09%	39.09%	39.09%	39.09%	39.09%	39.09%	39.09%	39.09%	39.09%
	1.03%	0.69%	0.69%	0.69%	0.69%	0.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	59.88%	60.23%	60.23%	60.22%	60.23%	60.57%	60.91%	60.92%	60.91%	60.91%	60.91%	60.91%
No. of Shareholders	2,829	3,417	4,452	5,078	5,593	5,500	5,706	5,541	5,799	5,720	5,559	5,344

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	54.50%	54.50%	54.50%	56.66%	48.95%	43.71%	39.09%	39.09%	39.09%	39.09%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.69%	0.41%	0.69%	0.00%	0.00%
	0.00%	0.00%	0.00%	0.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00%	0.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	45.50%	44.67%	45.50%	43.14%	51.05%	55.60%	60.51%	60.22%	60.92%	60.91%
No. of Shareholders	1,960	1,741	1,713	1,542	1,736	2,349	2,639	5,078	5,541	5,344

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Artefact Projects Ltd

Artefact Projects Ltd

Peer comparison

Quarterly Results

Profit & Loss

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Shareholding Pattern

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