Artificial Electronics Intelli (AEIM) share price

₹84.26 on BSE as of 2026-09-04. +0.50% on the day. market cap ₹142 Cr. P/E 4.2. 52-week range ₹83.19 to ₹190.15. Capital Goods.

Artificial Electronics: ₹150 Cr in Sales, Zero Dividend, 475% Growth

At a glance

A renamed software company that swallowed its own business and then doubled revenue in a single year. Sales climbed from ₹26.1 Cr to ₹150.1 Cr. Net profit jumped ₹2.83 Cr to ₹36.76 Cr—a 1,199% leap in the profit column.

The market has priced this at ₹102.45 per share, granting it a P/E of 7.7x. That multiple sits far below both its peer set (median 33.7x) and its own five-year stock CAGR of 108%.

But the balance sheet holds ₹109.79 Cr in debt against ₹27.67 Cr in equity capital. Cash flow turned negative in FY26: operating activity bled ₹157.67 Cr.

**Watch the tension:** hypergrowth in revenues clashing with negative cash generation and zero dividend payouts, while management juggles a capex spree across new facilities.

Introduction

Artificial Electronics Intelligent Material Limited began life as Datasoft Application Software (India) Limited in 1992. In May 2024, it shed the old name and embraced a new identity, signalling—or claiming to signal—a pivot from pure software into something harder to classify.

The company's stated business is software consultancy, software development, digital services, IT solutions, and research. The filing says it does "end-to-end software development," "technology infrastructure services," and "business process services." Translation: it's still a software and services shop, rebranded.

Recent corporate moves: On February 10, 2025, management signed an MoU with Maharashtra for a sapphire ingot and wafer manufacturing facility at Mihan SEZ, Nagpur—₹10,000 Cr investment promised over five years. On November 21, 2025, the company was allotted 11.28 acres in Nava Raipur for a semiconductor materials facility, with phase one due by May 2026.

The stock surged from ₹83 to ₹232 in twelve months, then fell back to ₹102.45 by mid-June 2026. This chop masks the real story: a capital raise that ballooned the share count.

Business model

On the operating side, AEIM takes in revenue from software consultancy. In the filing for FY24, the split showed consultancy fees at 99% of total revenue, dividend income at 1%. No product, no platform, no recurring recurring-revenue machine. It's pure labour arbitrage—you staff a project, invoice the client, pocket the margin.

The operating margin widened to 32.8% in FY26, a healthy band for a software services play. But the business itself is commodity. Dozens of Indian IT shops offer the same thing.

What's new is the noise: the company now talks about sapphire wafers, semiconductors, and heavy manufacturing. The MoU with Maharashtra is pageantry—the financial statements show no capex yet, no facility, no business segment. The announcements arrive before the money gets spent.

In a sentence: still a software consultancy, now wearing a semiconductor press release as a hat.

Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for Artificial Electronics Intelli.

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