Artson Ltd

₹ 140 -0.46%

30 Oct - close price

About

Incorporated in 1978, Artson Engineering Ltd does supply of equipment, steel structure and site services for mechanical works^[1]

Key Points

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

Website BSE

Market Cap ₹ 515 Cr.
Current Price ₹ 140
High / Low ₹ 228 / 125
Stock P/E
Book Value ₹ 0.61
Dividend Yield 0.00 %
ROCE -14.6 %
ROE -429 %
Face Value ₹ 1.00

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Pros

Debtor days have improved from 134 to 75.6 days.

Cons

Stock is trading at 230 times its book value
Company has low interest coverage ratio.
The company has delivered a poor sales growth of 1.71% over past five years.

* 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

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	30.12	31.24	24.88	24.97	19.51	17.81	51.26	44.74	48.12	31.96	38.75	26.13	38.68
	26.47	27.70	21.96	22.57	21.11	25.05	47.33	41.40	48.15	46.31	33.20	24.94	33.68
Operating Profit	3.65	3.54	2.92	2.40	-1.60	-7.24	3.93	3.34	-0.03	-14.35	5.55	1.19	5.00
OPM %	12.12%	11.33%	11.74%	9.61%	-8.20%	-40.65%	7.67%	7.47%	-0.06%	-44.90%	14.32%	4.55%	12.93%
	0.02	0.02	0.60	0.06	0.23	19.11	0.07	0.01	0.04	0.02	0.04	0.41	0.21
Interest	2.38	2.41	2.78	2.52	2.17	2.43	2.65	2.31	2.39	1.90	1.68	1.75	1.92
Depreciation	0.46	0.69	0.54	0.63	0.63	0.58	0.55	0.57	0.66	0.68	0.61	0.62	0.57
Profit before tax	0.83	0.46	0.20	-0.69	-4.17	8.86	0.80	0.47	-3.04	-16.91	3.30	-0.77	2.72
Tax %	-286.75%	-8.70%	-560.00%	-28.99%	-27.82%	27.99%	23.75%	53.19%	-26.32%	-27.74%	-1.82%	-46.75%	26.47%
	3.21	0.49	1.32	-0.49	-3.00	6.38	0.60	0.22	-2.24	-12.22	3.36	-0.41	2.01
EPS in Rs	0.87	0.13	0.36	-0.13	-0.81	1.73	0.16	0.06	-0.61	-3.31	0.91	-0.11	0.54
Raw PDF

Profit & Loss

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	65	110	101	132	158	163	150	173	131	128	114	164	136
	62	106	96	129	153	152	146	166	142	114	116	169	138
Operating Profit	3	4	4	3	5	11	4	7	-11	14	-2	-6	-3
OPM %	4.7%	3.7%	4.4%	2.0%	3.0%	7%	2.8%	3.9%	-8%	11%	-2.2%	-3.4%	-1.9%
	0	3	6	9	3	7	2	1	1	1	19	0	1
Interest	3	4	4	5	7	10	10	11	10	10	10	8	7
Depreciation	2	2	1	1	1	2	1	1	1	2	2	3	2
Profit before tax	-2	2	6	5	0	6	-5	-4	-21	2	5	-16	-12
Tax %	0%	0%	-378%	76%	1,508%	112%	11%	15%	12%	-163%	27%	-33%
	-2	2	27	1	-2	-1	-6	-5	-24	6	3	-11	-7
EPS in Rs	-0.54	0.46	7.36	0.35	-0.46	-0.20	-1.54	-1.36	-6.37	1.64	0.94	-2.95	-1.97
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	4%
5 Years:	2%
3 Years:	8%
TTM:	-16%

Compounded Profit Growth
10 Years:	%
5 Years:	-41%
3 Years:	15%
TTM:	-246%

Stock Price CAGR
10 Years:	9%
5 Years:	15%
3 Years:	-2%
1 Year:	-17%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	-429%

Balance Sheet

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital	4	4	4	4	4	4	4	4	4	4	4	4	4
Reserves	-70	-66	2	2	2	1	-4	-3	-19	-3	1	-3	-1
	61	63	20	26	33	58	54	53	59	64	49	54	53
	69	111	75	78	106	96	121	87	112	86	118	69	64
Total Liabilities	64	112	102	110	144	160	175	141	156	151	172	123	119
	7	4	4	5	5	10	10	11	12	17	14	14	12
CWIP	0	0	0	0	0	0	0	0	0	0	0	3	3
Investments	0	0	0	0	0	0	0	0	0	0	0	0	0
	58	108	98	105	139	150	165	129	144	134	158	107	104
Total Assets	64	112	102	110	144	160	175	141	156	151	172	123	119

Cash Flows

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1	11	1	-0	3	-13	16	14	-4	-4	20	-5
	1	-0	0	-2	-2	-5	-2	-2	-2	-1	7	5
	-2	-4	-11	-4	-5	-8	7	-16	7	5	-23	-4
Net Cash Flow	-0	6	-9	-6	-5	-26	21	-4	0	-0	5	-5
Free Cash Flow	1	11	1	-3	2	-18	14	12	-7	-7	18	-8
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	17%	283%	26%	-17%	22%	-113%	384%	214%	30%	-34%	-709%	54%

Ratios

	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	90	202	103	76	81	71	155	121	149	129	199	76
Inventory Days	242	129	148	165	83	96	59	47	245	182	302	103
Days Payable	327	270	423	416	360	380	459	354	551	401	756	326
Cash Conversion Cycle	5	61	-173	-175	-196	-213	-245	-187	-157	-91	-256	-148
Working Capital Days	-271	-160	-45	-21	-45	-3	-30	-29	-53	-18	10	-6
ROCE %			71%	38%	20%	32%	9%	12%	-22%	23%	25%	-15%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Order Book / Backlog
INR Lakhs

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

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Revenue from Tata Projects (Holding Company)
INR Lakhs

Total Permanent Employees
Number

Process Equipment Production Volume (Nashik Unit)
Tonnes (MT)

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Shareholding Pattern

Numbers in percentages

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%
	0.01%	0.01%	0.01%	0.01%	0.05%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	24.98%	24.98%	24.98%	24.98%	24.94%	25.00%	24.99%	25.00%	24.99%	24.99%	24.99%	24.98%
No. of Shareholders	22,947	21,943	20,811	20,518	19,797	19,391	18,902	18,383	18,011	17,733	17,719	17,441

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%
	0.00%	0.02%	0.00%	0.00%	0.00%	0.00%	0.06%	0.00%	0.00%	0.00%	0.00%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	24.99%	24.97%	24.99%	24.99%	24.99%	24.99%	24.92%	24.98%	25.00%	24.99%	24.98%
No. of Shareholders	12,355	12,976	12,747	12,635	13,126	18,445	21,150	21,943	19,391	17,733	17,441

* 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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Artson Ltd

Artson Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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