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Last Updated: April 2, 2026, 4:08 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 531297 | NSE: ARTEFACT

Artefact Projects Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹52.09Overvalued by 10.50%vs CMP ₹58.20

P/E (5.9) × ROE (11.7%) × BV (₹94.00) × DY (0.86%)

₹93.15Undervalued by 60.05%vs CMP ₹58.20
MoS: +37.5% (Strong)Confidence: 48/100 (Moderate)Models: 5 Under, 2 Fair, 2 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹58.4422%Fair (+0.4%)
Graham NumberEarnings₹146.2316%Under (+151.3%)
Earnings PowerEarnings₹46.3813%Over (-20.3%)
DCFCash Flow₹164.7313%Under (+183%)
Net Asset ValueAssets₹94.077%Under (+61.6%)
EV/EBITDAEnterprise₹58.759%Fair (+0.9%)
Earnings YieldEarnings₹101.107%Under (+73.7%)
ROCE CapitalReturns₹108.667%Under (+86.7%)
Revenue MultipleRevenue₹41.335%Over (-29%)
Consensus (9 models)₹93.15100%Undervalued

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 12.2%

*Investments are subject to market risks

Investment Snapshot

67
Artefact Projects Ltd scores 67/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health71/100 · Strong
ROCE 13.4% GoodROE 11.7% AverageD/E 0.65 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 39.1% Stable
Earnings Quality50/100 · Moderate
OPM contracting (20% → 17%) DecliningWorking capital: -112 days (improving) Efficient
Quarterly Momentum80/100 · Strong
Revenue (4Q): +26% YoY AcceleratingProfit (4Q): +57% YoY StrongOPM: 23.4% (down 3.4% YoY) Margin pressure
Industry Rank80/100 · Strong
P/E 5.9 vs industry 60.1 Cheaper than peersROCE 13.4% vs industry 9.8% Above peers3Y sales CAGR: 8% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:08 am

Market Cap 42.3 Cr.
Current Price 58.2
Intrinsic Value₹93.15
High / Low 82.0/52.0
Stock P/E5.87
Book Value 94.0
Dividend Yield0.86 %
ROCE13.4 %
ROE11.7 %
Face Value 10.0
PEG Ratio0.48

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Artefact Projects Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Artefact Projects Ltd 42.3 Cr. 58.2 82.0/52.05.87 94.00.86 %13.4 %11.7 % 10.0
Brahmaputra Infrastructure Ltd 448 Cr. 154 179/38.56.69 1090.00 %10.8 %11.0 % 10.0
J Kumar Infraprojects Ltd 3,449 Cr. 456 766/4258.59 4190.88 %20.0 %13.8 % 5.00
Sadbhav Infrastructure Projects Ltd 75.4 Cr. 2.14 5.70/2.052.44 14.80.00 %14.0 %% 10.0
Dilip Buildcon Ltd 6,605 Cr. 407 588/37610.1 3550.25 %14.8 %9.97 % 10.0
Industry Average1,557.11 Cr105.1560.1390.100.22%9.84%14.41%8.15

All Competitor Stocks of Artefact Projects Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 4.175.234.236.446.387.123.126.857.3312.742.218.976.74
Expenses 3.214.563.575.145.177.392.255.385.3610.441.647.245.16
Operating Profit 0.960.670.661.301.21-0.270.871.471.972.300.571.731.58
OPM % 23.02%12.81%15.60%20.19%18.97%-3.79%27.88%21.46%26.88%18.05%25.79%19.29%23.44%
Other Income 0.952.751.001.081.091.201.211.250.261.301.311.041.13
Interest 0.460.400.240.570.380.480.410.420.420.420.420.420.37
Depreciation 0.130.100.100.100.100.090.090.100.110.110.110.110.12
Profit before tax 1.322.921.321.711.820.361.582.201.703.071.352.242.22
Tax % 13.64%19.52%3.03%-11.70%0.00%38.89%8.86%19.09%27.06%2.93%24.44%25.45%24.32%
Net Profit 1.142.361.271.911.820.221.441.781.242.981.021.671.68
EPS in Rs 1.573.241.752.632.500.301.982.451.704.101.402.302.31

Last Updated: March 3, 2026, 12:17 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 9:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 20.3419.8715.9923.0121.5622.5631.9032.0923.5718.1724.1730.0430.66
Expenses 15.5615.6912.7220.3121.6918.6026.1027.4018.6314.7221.2923.4324.48
Operating Profit 4.784.183.272.70-0.133.965.804.694.943.452.886.616.18
OPM % 23.50%21.04%20.45%11.73%-0.60%17.55%18.18%14.62%20.96%18.99%11.92%22.00%20.16%
Other Income 0.191.161.242.322.541.332.373.763.535.514.384.024.78
Interest 3.373.083.243.694.453.642.702.272.391.981.661.671.63
Depreciation 0.870.850.810.800.820.841.020.830.570.500.390.420.45
Profit before tax 0.731.410.460.53-2.860.814.455.355.516.485.218.548.88
Tax % 87.67%35.46%97.83%60.38%8.39%-62.96%19.55%26.54%25.05%17.59%-0.38%12.88%
Net Profit 0.100.900.010.20-3.101.323.593.924.145.345.237.437.35
EPS in Rs 0.181.630.020.36-5.612.396.195.395.697.347.1910.2110.11
Dividend Payout % 414.75%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%4.90%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)800.00%-98.89%1900.00%-1650.00%142.58%171.97%9.19%5.61%28.99%-2.06%42.07%
Change in YoY Net Profit Growth (%)0.00%-898.89%1998.89%-3550.00%1792.58%29.39%-162.78%-3.58%23.37%-31.05%44.12%

Artefact Projects Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:4%
5 Years:-1%
3 Years:8%
TTM:26%
Compounded Profit Growth
10 Years:23%
5 Years:20%
3 Years:21%
TTM:28%
Stock Price CAGR
10 Years:9%
5 Years:21%
3 Years:2%
1 Year:-15%
Return on Equity
10 Years:6%
5 Years:9%
3 Years:9%
Last Year:12%

Last Updated: September 5, 2025, 2:21 pm

Balance Sheet

Last Updated: February 1, 2026, 2:21 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 5.535.535.535.535.535.535.807.287.287.287.287.287.28
Reserves 28.4629.7229.7329.9326.8428.1533.6739.7242.8448.3852.0158.4061.09
Borrowings 18.8115.1618.5116.7117.9317.429.5316.2818.3511.8010.0814.6413.54
Other Liabilities 14.7614.4714.3718.7619.5724.7918.3819.1117.6524.0128.8022.2423.11
Total Liabilities 67.5664.8868.1470.9369.8775.8967.3882.3986.1291.4798.17102.56105.02
Fixed Assets 24.6523.7722.8722.2821.8521.1917.0416.2815.7111.8211.5212.2213.48
CWIP 0.000.000.000.000.000.000.000.000.000.000.351.030.00
Investments 10.4010.404.9010.9012.9012.9012.9013.1613.1913.0613.060.160.16
Other Assets 32.5130.7140.3737.7535.1241.8037.4452.9557.2266.5973.2489.1591.38
Total Assets 67.5664.8868.1470.9369.8775.8967.3882.3986.1291.4798.17102.56105.02

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 6.114.05-6.739.324.025.031.99-6.78-3.92-1.24-0.44-19.02
Cash from Investing Activity + -0.420.836.26-4.32-1.41-1.566.80-0.914.148.953.8316.00
Cash from Financing Activity + -4.65-6.240.56-4.86-3.53-4.91-8.777.83-0.32-7.52-3.392.89
Net Cash Flow 1.04-1.360.090.14-0.92-1.430.020.13-0.110.19-0.00-0.14
Free Cash Flow 5.593.89-6.759.113.624.856.09-5.47-3.933.97-0.88-20.81
CFO/OP 177%43%-135%350%-3,100%127%7%-231%-96%-36%-15%-288%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-14.03-10.98-15.24-14.01-18.06-13.46-3.73-11.59-13.41-8.35-7.20-8.03

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 328.75307.87352.22285.21312.86365.97167.74169.70210.45296.10238.30149.40
Inventory Days
Days Payable
Cash Conversion Cycle 328.75307.87352.22285.21312.86365.97167.74169.70210.45296.10238.30149.40
Working Capital Days -115.03-52.90224.1692.64-2.5470.38121.17231.35377.08675.36473.73-111.87
ROCE %7.81%8.70%7.31%7.97%3.10%8.78%12.79%11.36%11.99%9.78%10.03%13.45%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 39.09%39.09%39.09%39.09%39.09%39.09%39.09%39.09%39.09%39.09%39.09%39.09%
FIIs 0.41%1.03%0.69%0.69%0.69%0.69%0.34%0.00%0.00%0.00%0.00%0.00%
Public 60.51%59.88%60.23%60.23%60.22%60.23%60.57%60.91%60.92%60.91%60.91%60.91%
No. of Shareholders 2,6392,8293,4174,4525,0785,5935,5005,7065,5415,7995,7205,559

Shareholding Pattern Chart

No. of Shareholders

Artefact Projects Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 16Mar 15Mar 14Mar 13Mar 12
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) -9.263.401.772.816.90
Diluted EPS (Rs.) -9.263.401.772.816.90
Cash EPS (Rs.) -7.615.183.925.368.62
Book Value[Excl.RevalReserv]/Share (Rs.) 63.8872.7768.7266.9565.54
Book Value[Incl.RevalReserv]/Share (Rs.) 63.8872.7768.7266.9565.54
Revenue From Operations / Share (Rs.) 53.9584.4565.7569.4453.96
PBDIT / Share (Rs.) 1.8414.4114.2213.0512.20
PBIT / Share (Rs.) 0.1812.6712.4610.9910.09
PBT / Share (Rs.) -8.495.294.594.834.67
Net Profit / Share (Rs.) -9.273.442.163.316.52
NP After MI And SOA / Share (Rs.) -9.263.401.772.816.51
PBDIT Margin (%) 3.4117.0621.6318.7822.60
PBIT Margin (%) 0.3314.9918.9515.8218.70
PBT Margin (%) -15.736.256.986.968.65
Net Profit Margin (%) -17.194.073.294.7612.08
NP After MI And SOA Margin (%) -17.174.022.684.0412.06
Return on Networth / Equity (%) -14.504.672.574.1910.02
Return on Capital Employeed (%) 0.1715.3213.5511.0211.57
Return On Assets (%) -5.482.021.061.875.09
Long Term Debt / Equity (X) 0.520.080.290.440.30
Total Debt / Equity (X) 0.880.370.640.730.65
Asset Turnover Ratio (%) 0.190.250.270.210.29
Current Ratio (X) 1.461.211.191.321.80
Quick Ratio (X) 1.341.091.081.321.80
Dividend Payout Ratio (NP) (%) 0.000.000.0026.7211.51
Dividend Payout Ratio (CP) (%) 0.000.000.0015.428.70
Earning Retention Ratio (%) 0.000.000.0073.2888.49
Cash Earning Retention Ratio (%) 0.000.000.0084.5891.30
Interest Coverage Ratio (X) 0.211.951.812.122.25
Interest Coverage Ratio (Post Tax) (X) -0.061.471.271.541.61
Enterprise Value (Cr.) 47.6331.3030.3535.7633.31
EV / Net Operating Revenue (X) 1.600.670.830.931.12
EV / EBITDA (X) 46.863.933.864.964.94
MarketCap / Net Operating Revenue (X) 0.590.430.270.290.50
Retention Ratios (%) 0.000.000.0073.2788.48
Price / BV (X) 0.500.500.260.300.42
Price / Net Operating Revenue (X) 0.590.430.270.290.50
EarningsYield -0.280.090.090.130.23

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Artefact Projects Ltd. is a Public Limited Listed company incorporated on 06/10/1987 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L65910MH1987PLC044887 and registration number is 044887. Currently Company is involved in the business activities of Architectural and engineering activities and related technical consultancy. Company's Total Operating Revenue is Rs. 30.05 Cr. and Equity Capital is Rs. 7.28 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Infrastructure - GeneralBlock No. 106, 2nd Floor, 'Artefact Towers', Nagpur Maharashtra 440015Contact not found
Management
NamePosition Held
Mr. Siddharth P ShahWhole Time Director
Mrs. Ankita S ShahNon Executive Director
Mrs. Pritti AgarwalIndependent Director
Mr. Kaustubh PaunikarIndependent Director

FAQ

What is the intrinsic value of Artefact Projects Ltd and is it undervalued?

As of 04 April 2026, Artefact Projects Ltd's intrinsic value is ₹93.15, which is 60.05% higher than the current market price of ₹58.20, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (11.7 %), book value (₹94.0), dividend yield (0.86 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Artefact Projects Ltd?

Artefact Projects Ltd is trading at ₹58.20 as of 04 April 2026, with a FY2026-2027 high of ₹82.0 and low of ₹52.0. The stock is currently near its 52-week low. Market cap stands at ₹42.3 Cr..

How does Artefact Projects Ltd's P/E ratio compare to its industry?

Artefact Projects Ltd has a P/E ratio of 5.87, which is below the industry average of 60.13. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Artefact Projects Ltd financially healthy?

Key indicators for Artefact Projects Ltd: ROCE of 13.4 % is moderate. Dividend yield is 0.86 %.

Is Artefact Projects Ltd profitable and how is the profit trend?

Artefact Projects Ltd reported a net profit of ₹7 Cr in Mar 2025 on revenue of ₹30 Cr. Compared to ₹4 Cr in Mar 2022, the net profit shows an improving trend.

Does Artefact Projects Ltd pay dividends?

Artefact Projects Ltd has a dividend yield of 0.86 % at the current price of ₹58.20. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Artefact Projects Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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