Announcement • May 20
ARSS Infrastructure Projects Limited to Report Q4, 2026 Results on May 28, 2026 ARSS Infrastructure Projects Limited announced that they will report Q4, 2026 results on May 28, 2026 Announcement • Feb 02
ARSS Infrastructure Projects Limited to Report Q3, 2026 Results on Feb 10, 2026 ARSS Infrastructure Projects Limited announced that they will report Q3, 2026 results on Feb 10, 2026 Announcement • Dec 09
Arss Infrastructure Projects Limited Appoints Mr. Manoranjan Panigrahy as Independent Director, with Effect from 31 October 2025 ARSS Infrastructure Projects Limited at EGM on December 9, 2025 approved to appoint Mr. Manoranjan Panigrahy as an Independent Director of the Company for a period of 5 (five) consecutive years with effect from 31 October 2025 to 30 October 2030, not liable to retire by rotation. Announcement • Oct 27
ARSS Infrastructure Projects Limited to Report Q2, 2026 Results on Nov 04, 2025 ARSS Infrastructure Projects Limited announced that they will report Q2, 2026 results on Nov 04, 2025 Announcement • Aug 12
ARSS Infrastructure Projects Limited, Annual General Meeting, Sep 24, 2025 ARSS Infrastructure Projects Limited, Annual General Meeting, Sep 24, 2025, at 11:00 Indian Standard Time. Reported Earnings • May 30
Full year 2025 earnings released: ₹3.42 loss per share (vs ₹15.32 loss in FY 2024) Full year 2025 results: ₹3.42 loss per share (improved from ₹15.32 loss in FY 2024). Revenue: ₹1.72b (down 47% from FY 2024). Net loss: ₹77.7m (loss narrowed 78% from FY 2024). Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Announcement • May 21
ARSS Infrastructure Projects Limited to Report Q4, 2025 Results on May 28, 2025 ARSS Infrastructure Projects Limited announced that they will report Q4, 2025 results on May 28, 2025 Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹49.65, the stock trades at a trailing P/E ratio of 43x. Average trailing P/E is 21x in the Construction industry in India. Total returns to shareholders of 97% over the past three years. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹29.77, the stock trades at a trailing P/E ratio of 25.7x. Average trailing P/E is 21x in the Construction industry in India. Total returns to shareholders of 3.5% over the past three years. Reported Earnings • Feb 16
Third quarter 2025 earnings released: ₹0.08 loss per share (vs ₹9.62 loss in 3Q 2024) Third quarter 2025 results: ₹0.08 loss per share (improved from ₹9.62 loss in 3Q 2024). Revenue: ₹206.7m (down 75% from 3Q 2024). Net loss: ₹1.84m (loss narrowed 99% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 13
Full year 2024 earnings released: ₹15.32 loss per share (vs ₹2.60 profit in FY 2023) Full year 2024 results: ₹15.32 loss per share (down from ₹2.60 profit in FY 2023). Revenue: ₹3.35b (down 20% from FY 2023). Net loss: ₹348.4m (down ₹407.5m from profit in FY 2023). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Aug 12
ARSS Infrastructure Projects Limited, Annual General Meeting, Sep 28, 2024 ARSS Infrastructure Projects Limited, Annual General Meeting, Sep 28, 2024, at 11:00 Indian Standard Time. Buy Or Sell Opportunity • Mar 22
Now 24% overvalued Over the last 90 days, the stock has fallen 5.1% to ₹19.45. The fair value is estimated to be ₹15.68, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 29%. Reported Earnings • Feb 10
Third quarter 2024 earnings released: ₹9.62 loss per share (vs ₹0.03 profit in 3Q 2023) Third quarter 2024 results: ₹9.62 loss per share (down from ₹0.03 profit in 3Q 2023). Revenue: ₹826.8m (down 25% from 3Q 2023). Net loss: ₹218.7m (down ₹219.5m from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Non-Executive Independent Director Rajender Indoria was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 20
Second quarter 2024 earnings released: EPS: ₹0.97 (vs ₹1.58 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.97 (down from ₹1.58 in 2Q 2023). Revenue: ₹705.2m (down 4.8% from 2Q 2023). Net income: ₹22.1m (down 38% from 2Q 2023). Profit margin: 3.1% (down from 4.8% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Aug 12
New major risk - Revenue and earnings growth Earnings have declined by 38% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Negative equity (-₹1.3b). Earnings have declined by 38% per year over the past 5 years. Market cap is less than US$10m (₹448.8m market cap, or US$5.41m). Reported Earnings • Aug 12
First quarter 2024 earnings released: ₹7.07 loss per share (vs ₹0.18 loss in 1Q 2023) First quarter 2024 results: ₹7.07 loss per share (further deteriorated from ₹0.18 loss in 1Q 2023). Revenue: ₹741.1m (flat on 1Q 2023). Net loss: ₹160.8m (loss widened ₹156.7m from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Announcement • Aug 12
ARSS Infrastructure Projects Limited, Annual General Meeting, Sep 26, 2023 ARSS Infrastructure Projects Limited, Annual General Meeting, Sep 26, 2023, at 11:00 Indian Standard Time. New Risk • Jun 10
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 0.5% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (0.5% operating cash flow to total debt). Shares are highly illiquid. Negative equity (-₹1.3b). Market cap is less than US$10m (₹450.0m market cap, or US$5.46m). New Risk • Jun 09
New major risk - Revenue and earnings growth Earnings have declined by 42% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Negative equity (-₹1.3b). Earnings have declined by 42% per year over the past 5 years. Market cap is less than US$10m (₹472.5m market cap, or US$5.73m). Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹19.95, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 20x in the Construction industry in India. Total returns to shareholders of 40% over the past three years. Reported Earnings • May 26
Full year 2023 earnings released: EPS: ₹2.60 (vs ₹48.56 loss in FY 2022) Full year 2023 results: EPS: ₹2.60 (up from ₹48.56 loss in FY 2022). Revenue: ₹4.20b (up 41% from FY 2022). Net income: ₹59.2m (up ₹1.16b from FY 2022). Profit margin: 1.4% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Reported Earnings • Feb 15
Third quarter 2023 earnings released: EPS: ₹0.03 (vs ₹1.22 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.03 (down from ₹1.22 in 3Q 2022). Revenue: ₹1.10b (up 91% from 3Q 2022). Net income: ₹745.0k (down 97% from 3Q 2022). Profit margin: 0.1% (down from 4.8% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 19
Second quarter 2023 earnings released: EPS: ₹1.58 (vs ₹6.82 loss in 2Q 2022) Second quarter 2023 results: EPS: ₹1.58 (up from ₹6.82 loss in 2Q 2022). Revenue: ₹741.0m (up 26% from 2Q 2022). Net income: ₹35.9m (up ₹191.1m from 2Q 2022). Profit margin: 4.8% (up from net loss in 2Q 2022). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 15
First quarter 2023 earnings released: ₹0.18 loss per share (vs ₹8.98 loss in 1Q 2022) First quarter 2023 results: ₹0.18 loss per share (up from ₹8.98 loss in 1Q 2022). Revenue: ₹739.8m (up 20% from 1Q 2022). Net loss: ₹4.16m (loss narrowed 98% from 1Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Reported Earnings • May 31
Full year 2022 earnings released: ₹48.56 loss per share (vs ₹22.85 loss in FY 2021) Full year 2022 results: ₹48.56 loss per share (down from ₹22.85 loss in FY 2021). Revenue: ₹3.06b (up 8.3% from FY 2021). Net loss: ₹1.10b (loss widened 113% from FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 16
Third quarter 2022 earnings: EPS in line with expectations, revenues disappoint Third quarter 2022 results: EPS: ₹1.22 (up from ₹21.51 loss in 3Q 2021). Revenue: ₹575.2m (down 23% from 3Q 2021). Net income: ₹27.8m (up ₹516.9m from 3Q 2021). Profit margin: 4.8% (up from net loss in 3Q 2021). The move to profitability was driven by lower expenses. Revenue missed analyst estimates by 1.5%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Executive Departure • Nov 29
Women Independent Non-Executive Director Janhabi Deo has left the company On the 17th of November, Janhabi Deo's tenure as Women Independent Non-Executive Director ended after 4.0 years in the role. We don't have any record of a personal shareholding under Janhabi's name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 14.00 years. Reported Earnings • Aug 23
Full year 2021 earnings released: ₹22.85 loss per share (vs ₹3.99 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: ₹2.82b (down 2.2% from FY 2020). Net loss: ₹519.5m (down ₹610.1m from profit in FY 2020). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Executive Departure • Aug 04
Nominee Director Krishna Raut has left the company On the 23rd of July, Krishna Raut's tenure as Nominee Director ended after 8.2 years in the role. We don't have any record of a personal shareholding under Krishna's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 13.75 years. Executive Departure • Apr 03
Independent Non-Executive Director has left the company On the 31st of March, Swarup Parija's tenure as Independent Non-Executive Director ended after 13.4 years in the role. We don't have any record of a personal shareholding under Swarup's name. Swarup is the only executive to leave the company over the last 12 months. Reported Earnings • Jan 23
Third quarter 2021 earnings released: ₹21.51 loss per share The company reported a soft third quarter result with increased losses and weaker control over expenses, although revenues were improved. Third quarter 2021 results: Revenue: ₹742.0m (up 16% from 3Q 2020). Net loss: ₹489.1m (loss widened ₹420.6m from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹26.35, the stock is trading at a trailing P/E ratio of 9x, down from the previous P/E ratio of 10.7x. This compares to an average P/E of 15x in the Construction industry in India. Total return to shareholders over the past three years is a loss of 54%. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 19% share price gain to ₹24.55, the stock is trading at a trailing P/E ratio of 7.6x, up from the previous P/E ratio of 6.4x. This compares to an average P/E of 14x in the Construction industry in India. Total return to shareholders over the past three years is a loss of 58%. Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment improved over the past week After last week's 20% share price gain to ₹22.80, the stock is trading at a trailing P/E ratio of 6.9x, up from the previous P/E ratio of 5.7x. This compares to an average P/E of 14x in the Construction industry in India. Total return to shareholders over the past three years is a loss of 61%. Is New 90 Day High Low • Dec 15
New 90-day high: ₹19.75 The company is up 32% from its price of ₹14.95 on 15 September 2020. The Indian market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 23% over the same period. Valuation Update With 7 Day Price Move • Dec 07
Market bids up stock over the past week After last week's 15% share price gain to ₹19.60, the stock is trading at a trailing P/E ratio of 6.1x, up from the previous P/E ratio of 5.3x. This compares to an average P/E of 14x in the Construction industry in India. Total return to shareholders over the past three years is a loss of 70%. Is New 90 Day High Low • Nov 26
New 90-day high: ₹16.20 The company is up 9.0% from its price of ₹14.85 on 28 August 2020. The Indian market is also up 9.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Construction industry, which is up 8.0% over the same period. Valuation Update With 7 Day Price Move • Nov 23
Market bids up stock over the past week After last week's 17% share price gain to ₹14.45, the stock is trading at a trailing P/E ratio of 2.9x, up from the previous P/E ratio of 2.4x. This compares to an average P/E of 12x in the Construction industry in India. Total return to shareholders over the past three years is a loss of 72%.