On 6 Nov 2026, Artemis Electricals and Projects was priced at ₹14.62, or 43.0× trailing earnings, against an industry P/E of 30.0×, and the shares are 28% below their 52-week high. Its ROCE of 12% is the lowest among the 7 largest Electrical Equipment & Parts peers, and sales and net profit grew 11% and 12% a year over 3 years. The company has almost no debt. It is a small-cap company with a market cap of ₹367 Cr, ranked 62nd of 97 Electrical Equipment & Parts companies by market cap; the shares fell 20% over the past year.
- ₹15.36
- ₹15.36
- ₹14.40
- ₹14.97
- 12.1K
Health check
- ReturnsBehind
−19.6% over a year, better than 1 of 7 peers.
- Price tagPricier
P/E 43.0 vs industry 30.0.
- GrowthSlow
Sales +11.4%, profit +11.5% a year over 3 years.
- ProfitabilityWeak
ROCE 12.4% vs peer median 22.1%.
- Balance sheetSolid
Practically debt-free, Piotroski 6 of 9.
- Red flags1 to check
Quarterly sales down 17.6% on a year ago.
Small cap
High beta
Key metrics
- Market cap
- ₹367 Cr
- Small cap
- P/E
- 43.0
- Industry 30.0
- Price to book
- 3.94
- Peers 7.24
- Dividend yield
- 0.04%
- ROE
- 9.6%
- Peers 18.0%
- ROCE
- 12.4%
- Peers 22.1%
- Debt to equity
- 0.02
- Debt ₹1.71 Cr
- EPS (TTM)
- ₹0.34
- Face value ₹1
- OPM (TTM)
- 16.1%
- Net margin 11.2%
- Sales growth
- −17.6%
- Latest quarter vs a year ago
- Profit growth
- −3.1%
- Latest quarter vs a year ago
- Price to sales
- 4.76
- EV/EBITDA 28.5
Strengths and risks
Strengths
- Practically debt-free.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Quarterly sales down 17.6% on a year ago.
About Artemis Electricals and Projects
Artemis Electricals and Projects Limited engages in the manufacture and sale of LED lighting and allied products in India. It provides LED focus lights, plastic body panel lights, surface lights, down lights, and AC street lights, as well as flashlights and solar lights. The company's products are used in various applications, such as commercial, residential, government offices, corridor lightings, arterial roads, main roads, multi-level junctions,…
- Headquarters
- Thane
- Employees
- 16
- Sector
- Industrials
- ISIN
- INE757T01025
- Website
- artemiselectricals.com
Price range
- Avg volume (3M)
- 57.5K
- 1-year return
- minus 19.6%
- From 52-week high
- minus 27.8%
Peers · Electrical Equipment & Parts
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| POWERINDIAHitachi Energy India | 27,800.00 | minus 1.42% | 1,23,911 | 107.7 | 95.3 | 24.9% | 16.1% | 0.02 | 22.2% | plus 37.9% |
| CGPOWERCG Power and Industrial Solutions | 773.00 | minus 4.43% | 1,21,785 | 88.6 | 72.5 | 19.3% | 13.1% | 0.02 | 21.2% | plus 8.2% |
| POLYCABPolycab India | 7,871.00 | plus 0.28% | 1,18,613 | 37.5 | 29.0 | 30.4% | 13.6% | 0.02 | 26.6% | plus 3.8% |
| HAVELLSHavells India | 1,128.00 | plus 5.61% | 70,789 | 42.6 | 30.0 | 22.1% | 9.1% | 0.02 | 9.9% | minus 28.1% |
| APARINDSApar Industries | 14,106.00 | minus 9.65% | 59,065 | 41.6 | 30.7 | 26.7% | 9.5% | 0.12 | 17.0% | plus 87.2% |
| KEIKEI Industries | 3,988.00 | minus 1.80% | 38,143 | 36.1 | 29.9 | 18.7% | 11.0% | 0.04 | 19.1% | plus 1.8% |
| HONAUTHoneywell Automation India | 30,080.00 | minus 0.79% | 26,613 | 47.0 | 35.7 | 15.7% | 13.8% | 0.02 | 10.9% | minus 17.5% |
| AEPLArtemis Electricals and Projects | 14.62 | minus 2.34% | 367 | 43.0 | 27.9 | 12.4% | 16.1% | 0.02 | 11.4% | minus 19.6% |
| Median of 7 peers | – | −1.42% | 70,789 | 42.6 | 30.7 | 22.1% | 13.1% | 0.02 | 19.1% | 3.8% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 19.8 | 15.8 | 4.3 | 40.8 | 16.3 | |
| 17.5 | 11.1 | 3 | 36.5 | 14.1 | |
| 2.2 | 4.7 | 1.3 | 4.2 | 2.2 | |
| 11.2% | 29.9% | 30.4% | 10.4% | 13.4% | |
| 0 | 0.3 | 0.1 | 0.3 | 0 | |
| 0.1 | 0.1 | 0 | 0 | 0 | |
| 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | |
| 1.8 | 4.7 | 1 | 4.2 | 1.9 | |
| 28.6% | 24.9% | 19.6% | 26.4% | 32.8% | |
| 1.3 | 3.5 | 0.8 | 3.1 | 1.3 | |
| 0.05 | 0.14 | 0.03 | 0.12 | 0.05 |
Profit & loss
- Sales CAGR 3Y
- +11.4%
- Profit CAGR 3Y
- +11.5%
- EPS CAGR 3Y
- +11.9%
- ROE
- 9.6%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 58.2 | 41.4 | 72.3 | 80.6 | |
| – | minus 29.0% | +74.9% | +11.4% | |
| 47.2 | 33.6 | 61.2 | 67.9 | |
| 11 | 7.7 | 11.2 | 12.7 | |
| 19.0% | 18.7% | 15.4% | 15.8% | |
| −0 | 0.1 | 0.6 | 0.4 | |
| 1.7 | 1 | 0.3 | 0.2 | |
| 1.9 | 1.6 | 1.3 | 1.2 | |
| 7.4 | 5.2 | 10.1 | 11.7 | |
| 15.4% | 25.2% | 25.3% | 25.6% | |
| 6.3 | 3.9 | 7.6 | 8.7 | |
| – | minus 37.9% | +93.9% | +15.2% | |
| 0.25 | 0.15 | 0.30 | 0.35 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 25.1 | 25.1 | 25.1 | 25.1 | |
| 50.5 | 53.4 | 60.9 | 69.5 | |
| 27.9 | 12.2 | 2.5 | 1.7 | |
| 24.1 | 19.3 | 33.3 | 45.9 | |
| 128 | 110 | 122 | 142 | |
| 83 | 49.1 | 67.9 | 67.7 | |
| 67.8 | 35.5 | 55.7 | 56.7 | |
| 1 | 1 | 1.1 | 1.1 | |
| 0.5 | 0.3 | 1.6 | 14.7 | |
| −24.6 | 24.1 | −4.5 | 2.2 | |
| 128 | 110 | 122 | 142 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 11.7 | 21.2 | 40.6 | 14.6 | |
| −7.7 | −4.5 | −29.2 | −0.6 | |
| −4 | −16.7 | −10.2 | −1 | |
| −0 | 0 | 1.3 | 13.1 | |
| −7.1 | −4.7 | −29.7 | −1 | |
| 4.5 | 16.6 | 10.9 | 13.6 | |
| – | – | −0.1 | – |
Shareholding pattern
- Promoters72.45%
- Public27.55%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 72.45% | 27.55% | 0.00 | |
| 30 Jun 2026 | 72.45% | 27.55% | 0.00 | |
| 31 Mar 2026 | 72.45% | 27.55% | 0.00 | |
| 11 Mar 2026 | 72.45% | 27.55% | – |
Major shareholders
Filings & events
News
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