ATV Projects (500028)

Score breakdown: P/E: 1/3 · ROCE: 0/2 · Growth: 0/2 · Dividend: 0/1

Key Financials

Strengths

• Trading at a P/B of 0.83, below stated book value of ₹36.87.
• Sales growth of 17.10% indicates recent topline momentum.
• Latest quarter shows ₹2 Cr net profit on ₹18 Cr sales, roughly 11% net margin in that period.
• Low market cap of ₹172 Cr and price below book may attract special-situation or asset-value investors.

Concerns

• ROE of 3.80% and ROCE of 2.96% show very poor returns on shareholder capital.
• Profit growth is negative at -3.59% despite 17.10% sales growth, signalling margin pressure.
• Piotroski F-Score of 4/9 suggests weak overall financial health.
• Zero dividend yield means no income while waiting for undervaluation to correct.
• Debt/Equity and promoter holding are unavailable, leaving key risks unassessed.

AI Analysis

At ₹30.55, I am being asked to pay ₹0.83 for every rupee of book value, and the book stands at ₹36.87. That sounds like a margin of safety, but Graham taught me that a bargain is only a bargain if the assets are productive and management treats capital honestly. Here the business earns an ROE of just 3.80% and ROCE of 2.96% — meaning the assets are generating very little economic return. A 17.10% sales growth is encouraging, yet profits fell 3.59%, and the latest quarter shows ₹2 Cr net profit on ₹18 Cr sales. That tells me this is a low-margin, capital-intensive industrial business with no pricing power. The Piotroski F-score of 4/9 reinforces my caution: the financial health is below average and there are more red flags than green lights. No dividend means I cannot even collect a return while waiting. The P/E of 22.25 is not compelling when earnings are declining. The so-called PEG of 1.30 is meaningless unless profit growth actually turns positive. I do not know the debt/equity or promoter holding figures, and in a small ₹172 Cr company, unknown leverage and promoter intent are serious gaps. This looks like an asset play, not a compounding machine. I would only consider buying if the book value is real, if management is willing to unlock value through dividends or asset sales, and if returns on capital begin moving toward double digits. Until then, the market may be right to value it below book. Patience, not hope, is the investor's best friend.

Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer