Artefact Projects Ltd

Order details

• Awarding entity: South Central Railway (Domestic).
• Scope: Appointment of Authority Engineer for Project Management Services at SCR construction sites.
• Duration: 24 months.
• Contract value: ₹211,289,143.54 exclusive of GST.
• JV: joint venture with AVOK Engineering and TUMAS Turkish Engineering Consulting & Contracting.
• Performance guarantee: 5% of contract value.
• Promoter/related party: No promoter interest; no related party transactions.
• Impact: First Railway Consultancy project; potential order-book expansion.

Artefact Projects Ltd — Trading Window closed from Oct 1, 2026 until 48 hours after unaudited financial results for the quarter and half year ending Sep 30, 2026 are declared.

AGM Details

• Date and time: 24 September 2026 at 11:30 AM; mode: Physical meeting in Nagpur.
• Venue: Block No. 105, 2nd Floor, Artefact Towers, Wardha Road, Nagpur.
• Voting conducted via remote e-voting and poll; Scrutinizer's report submitted.

Resolutions

• Resolution 1 (Ordinary): Adoption of audited financial statements, board report, and auditors' report; approved with near-unanimous support.
• Resolution 2 (Ordinary): Re-appointment of director retiring by rotation; approved by majority.

Dividend

• Dividend: No dividend proposed or declared.

Director Changes

• Ankita Shah reappointed as director, retiring by rotation.

AGM Details

• AGM held on 24 September 2026 from 11:30 AM to 12:10 PM at Artefact Towers, Nagpur.
• Mode: physical meeting with remote e-voting facility.
• Record date for e-voting: 18 September 2026.
• Shareholders on record date: 5,231.

Resolutions Put to Vote

• Adoption of Audited Financial Statements for year ended 31 March 2026 with Board's Reports and Auditors' Report.
• Re-appointment of director who retires by rotation.
• Appointment of a director in place of Ankita Shah.

Voting Status

• Results of voting, including remote e-voting and AGM polling, to be declared within 2 working days.
• Results and Scrutinizer's Report will be submitted to BSE and uploaded on the company website.

Auditors & Scrutinizer

• Statutory Auditors Naresh Patadia & Co. attended; no appointment changes announced.
• Scrutinizer appointed: Jigar Gorsia, Practising Company Secretary, Nagpur.

Book closure details

• Book closure: Sep 18-24, 2026, inclusive.
• Purpose: 38th AGM of Artefact Projects Ltd.
• Type of security: Equity shares (ARTEFACT 531297).
• Cut-off date for voting at AGM: Sep 18, 2026.
• Record date for dividend: NA.

Financial performance

• Total income Rs 3,614.04 Lakhs; up from prior year.
• Revenue from operations Rs 3,225.18 Lakhs.
• PAT Rs 522.61 Lakhs; down from Rs 743.03 Lakhs.
• EPS Rs 7.29; basic and diluted.
• EBIDTA Rs 888.10 Lakhs; prior year 1062.64.
• Net worth Rs 7061.55 Lakhs; improves YoY.
• Order book ~ Rs 338 Crores; Lead Consultant Rs 214 Crores.
• Dividends: NIL for FY2025-26.
• Net cash from operations not disclosed; cash balance Rs 21.24 Lakhs.

Capital structure & liquidity

• Short-term borrowings Rs 1139.44 Lakhs.
• Secured long-term borrowings Rs 382.81 Lakhs.
• Cash and bank balance Rs 21.24 Lakhs.
• Fixed deposits: Rs 201.48 Lakhs (current) and Rs 393.71 Lakhs (non-current).
• Equity share capital Rs 727.50 Lakhs.

Order book and project pipeline

• Order book approximately Rs 338 Crores; revenue visibility.
• Lead Consultant projects approximately Rs 214 Crores.
• JVs with 2 entities: 60% and 65% holding respectively.
• Strategic pivot to railways and urban infra opportunities.

Governance & leadership

• Board of four directors; two independent; Ankita Shah re-appointment proposed.
• Statutory auditor: Naresh Patadia & Co.; Secretarial: Khushal Bajaj; Internal: LNJ & Associates.
• Independent Directors meet as required; board meetings held four times in year.
• RPTs, if any, reported to be in ordinary course and arm's length.

CSR and sustainability

• CSR spend Rs 11.78 Lakhs; CSR obligation Rs 12.62 Lakhs.
• Average net profit for 3 years Rs 61.37 Lakhs; 2% obligation Rs 12.27 Lakhs.
• CSR spent against ongoing projects; Rs 0 on ongoing projects.
• CSR commitment for 2026-27 Rs 13.70 Lakhs.

Audit, controls & risk

• Auditors' report: no qualifications; internal controls adequate.
• Secretarial audit: no qualifications; no fraud reported.
• Internal audit by LNJ & Associates; quarterly reporting to Audit Committee.

Outlook and risks

• Geopolitical conflicts and price volatility impacted inputs and lead times.
• Domestic infra push supports long-term growth; opportunities in highways, railways, urban infra.
• Strong order book and JV framework provide revenue visibility.
• Disciplined cost management and risk mitigation to navigate external shocks.

Shareholder info & disclosures

• Share dematerialization: 98.85% of shares demat.
• Annual AGM details and e-voting facility; 4 board meetings in year.
• Contingent liabilities disclosed; bank guarantees and tax matters noted.

AGM Details

• AGM date and time: 24 September 2026 at 11:30 AM IST; venue: registered office.
• Mode: physical AGM at the company's registered office.
• Record/book closure: R/M closed 18 Sep 2026 to 24 Sep 2026 (inclusive).
• Remote e-voting window: 21 Sep 2026 to 23 Sep 2026; cutoff 18 Sep 2026.
• Notice and Annual Report available on company website.

Ordinary Business

• Adoption of Audited Financial Statements for year ended 31 March 2026.
• To consider and approve Board's Report and Auditor's Report.
• Director Ankita Shah to be re-appointed by rotation.

Director Details

• Ankita Shah: reappointment by rotation; remuneration Nil.

Key financial approvals

• Un-Audited Q1 FY2026-27 results approved for quarter ended 30 June 2026.
• Limited Review Report from statutory auditors accompanying the results.
• Single reportable segment: Project Consultancy.

Accounting policy and notes

• Emphasis on recoverability of investments of Rs 5.01 Lakh and Rs 3.51 Lakh.
• Billing policy shifted to post-approval basis; revenue billed Rs 396.21 Lakh.
• Unbilled proforma invoices Rs 517.82 Lakh; work-in-progress Rs 304.63 Lakh.
• Sales reduced by Rs 517.82 Lakh; profit reduced by Rs 213.19 Lakh due to policy change.

Governance and disclosures

• Audit committee reviewed results; board approved; statutory auditors gave unmodified opinion.
• Previous periods restated for comparability.