On 6 Nov 2026, Artefact Projects was priced at ₹46.20, or 6.4× trailing earnings, against an industry P/E of 16.4×, and the shares are 33% below their 52-week high. Its ROCE of 11% is the lowest among the 7 largest Engineering & Construction peers, and sales grew 21% a year over 3 years while net profit fell 0.7%. Debt is 0.22× equity. It is a small-cap company with a market cap of ₹34 Cr, ranked 138th of 156 Engineering & Construction companies by market cap; the shares fell 29% over the past year.
- ₹45.03
- ₹46.20
- ₹45.00
- ₹45.01
- 1.5K
Health check
- ReturnsBehind
−29.2% over a year, better than 2 of 7 peers.
- Price tagCheaper
P/E 6.4 vs industry 16.4.
- GrowthSteady
Sales +21.1%, profit −0.7% a year over 3 years.
- ProfitabilityWeak
ROCE 10.7% vs peer median 19.9%.
- Balance sheetStretched
Debt 0.22× equity, interest covered 5.8×, Piotroski 3 of 9.
- Red flags2 to check
Return on equity is low at 7.7%.
Small cap
Defensive
Key metrics
- Market cap
- ₹34 Cr
- Small cap
- P/E
- 6.4
- Industry 16.4
- Price to book
- 0.44
- Peers 4.92
- Dividend yield
- 0.00%
- ROE
- 7.7%
- Peers 17.9%
- ROCE
- 10.7%
- Peers 19.9%
- Debt to equity
- 0.22
- Debt ₹15 Cr
- EPS (TTM)
- ₹7.20
- OPM (TTM)
- 16.8%
- Net margin 15.5%
- Sales growth
- +43.2%
- Latest quarter vs a year ago
- Profit growth
- −7.4%
- Latest quarter vs a year ago
- Price to sales
- 1.01
- EV/EBITDA 8.3
Strengths and risks
Strengths
- Quarterly sales up 43.2% on a year ago.
- P/E of 6.4 against an industry P/E of 16.4.
Risks to check
- Return on equity is low at 7.7%.
- 33% below its 52-week high.
About Artefact Projects
Artefact Projects Limited, an engineering and project management consultancy company, provides solutions for infrastructure development in India. The company offers services in planning, design, engineering, project management, and supervision across highways, bridges, flyovers, urban infrastructure, buildings, railways, airports, water resources, and other key infrastructure sectors. It also operates as consulting engineers, architects, and planners. In…
- Headquarters
- Nagpur
- Employees
- 285
- Sector
- Industrials
- ISIN
- INE885B01014
- Website
- artefactprojects.com
Price range
- Avg volume (3M)
- 4K
- 1-year return
- minus 29.2%
- From 52-week high
- minus 32.8%
Peers · Engineering & Construction
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| LTLarsen & Toubro | 4,117.70 | plus 1.67% | 5,66,549 | 31.7 | 19.6 | 14.6% | 9.6% | 1.05 | 16.1% | plus 3.2% |
| RVNLRail Vikas Nigam | 193.34 | minus 0.18% | 40,312 | 44.9 | 56.9 | 11.0% | 4.3% | 0.49 | 0.2% | minus 40.5% |
| CEMPROCemindia Projects | 1,323.30 | plus 2.79% | 24,405 | 36.4 | 24.2 | 37.1% | 10.4% | 0.35 | 25.5% | plus 49.2% |
| KPILKalpataru Projects International | 1,370.80 | minus 0.04% | 23,410 | 19.7 | 10.1 | 19.9% | 8.3% | 0.46 | 18.4% | plus 4.3% |
| NBCCNBCC (India) | 78.00 | minus 2.90% | 21,060 | 26.5 | 19.8 | 34.3% | 6.1% | 0.00 | 12.9% | minus 29.5% |
| ENGINERSINEngineers India | 292.70 | minus 1.94% | 16,451 | 18.3 | 21.5 | 28.1% | 21.2% | 0.00 | 5.7% | plus 51.1% |
| WABAGVA Tech Wabag | 1,988.20 | plus 6.57% | 12,434 | 29.4 | 20.8 | 16.3% | 10.9% | 0.09 | 9.9% | plus 33.2% |
| ARTEFACTArtefact Projects | 46.20 | plus 2.64% | 34 | 6.4 | 9.7 | 10.7% | 16.8% | 0.22 | 21.1% | minus 29.2% |
| Median of 7 peers | – | −0.04% | 23,410 | 29.4 | 20.8 | 19.9% | 9.6% | 0.35 | 12.9% | 4.3% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 2.2 | 9 | 6.7 | 14.3 | 3.2 | |
| 1.6 | 7.2 | 5.2 | 13.2 | 2 | |
| 0.6 | 1.7 | 1.6 | 1.1 | 1.1 | |
| 25.7% | 19.3% | 23.4% | 7.9% | 35.6% | |
| 1.3 | 1 | 1.1 | 0.4 | 0.6 | |
| 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | |
| 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | |
| – | – | – | −0 | – | |
| 1.3 | 2.2 | 2.2 | 1 | 1.3 | |
| 24.3% | 25.3% | 24.6% | 14.7% | 25.5% | |
| 1 | 1.7 | 1.7 | 0.9 | 0.9 | |
| 1.40 | 2.30 | 2.31 | 1.29 | 1.30 |
Profit & loss
- Sales CAGR 3Y
- +21.1%
- Profit CAGR 3Y
- −0.7%
- EPS CAGR 3Y
- −0.7%
- ROE
- 7.7%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 18.2 | 24.2 | 30 | 32.3 | |
| – | +33.0% | +24.3% | +7.3% | |
| 14.7 | 21.3 | 23.4 | 27.2 | |
| 3.4 | 2.9 | 6.6 | 5 | |
| 19.0% | 12.0% | 22.0% | 15.6% | |
| 3.5 | 4.4 | 3.8 | 3.7 | |
| 1.7 | 1.7 | 1.6 | 1.4 | |
| 0.5 | 0.4 | 0.4 | 0.4 | |
| 1.8 | 0 | 0.1 | −0 | |
| 6.5 | 5.2 | 8.5 | 6.8 | |
| 17.6% | −0.4% | 13.0% | 23.3% | |
| 5.3 | 5.2 | 7.4 | 5.2 | |
| – | minus 2.1% | +42.0% | minus 29.7% | |
| 7.35 | 7.33 | 10.21 | 7.18 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 7.3 | 7.3 | 7.3 | 7.3 | |
| 48.4 | 52 | 58.4 | 63.3 | |
| 11.8 | 10.1 | 14.6 | 15.2 | |
| 24 | 28.8 | 22.2 | 28.7 | |
| 91.5 | 98.2 | 103 | 114 | |
| 11.8 | 11.9 | 13.2 | 13.7 | |
| – | 0.4 | 1 | 1.7 | |
| 13.1 | 13.1 | 2.4 | 0.1 | |
| 0.3 | 0.3 | 0.1 | 0.2 | |
| 66.3 | 72.6 | 85.8 | 98.8 | |
| 91.5 | 98.2 | 103 | 114 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −1.2 | −0.4 | −19 | −0.3 | |
| 9 | 3.8 | 16 | 1.4 | |
| −7.5 | −3.4 | 2.9 | −1.1 | |
| 0.2 | 0 | −0.1 | 0.1 | |
| – | −0.4 | −1.8 | −0.9 | |
| −1.2 | −0.9 | −20.8 | −1.2 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
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