Ashapura Minechem Ltd

₹ 471 0.12%

11 Jul - close price

ashapura.com BSE: 527001 NSE: ASHAPURMIN

About

Incorporated on 19th February 1982, Ashapura Minechem Ltd. is engaged in the mining, manufacturing and trading of various minerals and its derivative products. The company offers multi-mineral solutions across several industries from soaps to steel, energy to edible oils, metal to medicine and cement to ceramics. The company has its network of operations pan-India and in 7 other countries.^[1]^[2]

Key Points

Product Portfolio:^[1]
The Company is principally involved in mining, mineral processing, and logistics. Nearly all of the company’s products are natural ores or additives that form a part of the end-product, viz.^[2]
a. Industrial Functional Minerals:
b. Advanced Refractory Materials
c. Hydrocarbon Exploration Solutions
d. Adsorbent Solutions
e. White Performance Minerals
f. Super Specialty Refined Mineral Products
g. Building Materials and Chemicals

Website BSE NSE

Market Cap ₹ 4,504 Cr.
Current Price ₹ 471
High / Low ₹ 572 / 200
Stock P/E 53.3
Book Value ₹ 32.8
Dividend Yield 0.00 %
ROCE 24.8 %
ROE 33.0 %
Face Value ₹ 2.00

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Pros

Company has delivered good profit growth of 27.0% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 41.9%

Cons

Stock is trading at 14.4 times its book value
Though the company is reporting repeated profits, it is not paying out dividend
Tax rate seems low
Company has high debtors of 241 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Commodities Metals & Mining Minerals & Mining Industrial Minerals

Part of BSE SmallCap BSE Allcap BSE Commodities

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	115	68	47	60	47	91	67	97	79	78	74	97	123
	109	72	55	63	41	52	58	68	68	54	62	78	105
Operating Profit	6	-4	-7	-3	6	39	8	30	10	23	12	19	18
OPM %	5%	-5%	-16%	-5%	12%	43%	13%	30%	13%	30%	16%	20%	15%
	3	6	11	14	10	4	15	11	58	2	5	6	2
Interest	7	7	6	5	5	4	3	3	3	2	2	2	1
Depreciation	5	5	5	3	3	3	3	3	3	3	2	2	2
Profit before tax	-3	-9	-7	2	9	36	18	35	63	21	13	22	16
Tax %	0%	0%	0%	0%	14%	-18%	-7%	-6%	-9%	-16%	-11%	-20%	-23%
	-3	-9	-7	2	8	42	19	37	68	24	14	26	20
EPS in Rs	-0.30	-1.01	-0.81	0.22	0.83	4.62	2.07	4.03	7.47	2.62	1.49	2.72	2.13
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	664	749	592	236	239	337	206	421	598	223	333	372
	551	626	520	272	268	630	242	341	590	228	245	299
Operating Profit	112	124	73	-37	-29	-292	-37	80	8	-6	88	73
OPM %	17%	17%	12%	-16%	-12%	-87%	-18%	19%	1%	-2%	26%	20%
	59	-222	22	12	-5	250	465	41	26	38	88	15
Interest	19	10	9	10	11	10	14	35	30	23	15	7
Depreciation	11	16	20	24	24	23	21	20	20	15	10	9
Profit before tax	141	-124	65	-59	-69	-74	393	66	-16	-6	151	72
Tax %	0%	0%	0%	0%	0%	0%	0%	16%	0%	20%	-10%	-18%
	141	-124	65	-59	-69	-74	393	56	-16	-7	166	85
EPS in Rs	16.24	-14.25	7.44	-6.78	-7.90	-8.54	45.22	6.40	-1.71	-0.77	18.19	8.85
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	8%	-29%	0%	0%	0%

Compounded Sales Growth
10 Years:	-7%
5 Years:	13%
3 Years:	-15%
TTM:	12%

Compounded Profit Growth
10 Years:	-2%
5 Years:	27%
3 Years:	94%
TTM:	-8%

Stock Price CAGR
10 Years:	22%
5 Years:	59%
3 Years:	63%
1 Year:	22%

Return on Equity
10 Years:	%
5 Years:	40%
3 Years:	42%
Last Year:	33%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	17	17	17	17	17	17	17	17	18	18	18	19
Reserves	-162	-288	-223	-276	-344	-419	-21	34	18	16	181	294
	151	92	78	67	58	45	93	86	68	55	45	78
	700	888	920	891	904	951	497	545	541	496	317	318
Total Liabilities	707	710	792	699	636	595	587	682	646	586	561	709
	148	142	189	234	218	197	181	164	148	126	114	112
CWIP	11	9	49	2	5	7	3	1	3	2	6	7
Investments	39	39	39	44	44	31	44	44	40	40	40	40
	509	520	515	418	369	360	358	474	456	418	402	550
Total Assets	707	710	792	699	636	595	587	682	646	586	561	709

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	52	146	16	-46	17	-1	40	41	38	-13	-46
	-20	-102	-14	-5	15	-15	4	-2	1	33	-2
	-29	-48	-8	50	-20	15	-51	-41	-27	-27	54
Net Cash Flow	3	-3	-6	-0	12	-1	-7	-2	12	-7	5

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	109	97	114	214	109	77	196	185	94	192	143	241
Inventory Days	445	287	282	259	403	309	391	255	135	498	321	214
Days Payable	231	137	219	149	126	157	183	253	125	244	214	169
Cash Conversion Cycle	323	247	177	324	387	229	404	187	104	446	250	287
Working Capital Days	-198	-241	-329	-910	-677	-707	178	124	44	246	189	264
ROCE %	1,100%							72%	12%	20%	54%	25%

Shareholding Pattern

Numbers in percentages

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	44.74%	44.79%	45.22%	45.33%	45.33%	45.33%	45.33%	45.39%	45.39%	47.70%	47.70%	47.76%
	19.12%	16.32%	16.35%	16.99%	17.09%	18.03%	17.56%	17.24%	16.45%	15.72%	16.00%	16.56%
	0.14%	0.14%	0.14%	0.14%	0.14%	0.19%	0.18%	0.48%	0.45%	0.13%	0.14%	0.38%
	36.00%	38.75%	38.29%	37.53%	37.43%	36.44%	36.92%	36.89%	37.71%	36.44%	36.14%	35.31%
No. of Shareholders	26,228	28,424	28,033	26,214	25,557	27,466	31,091	30,415	29,928	33,974	30,705	32,289

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	48.43%	39.78%	39.78%	39.78%	41.42%	44.58%	45.33%	45.39%	47.76%
	23.26%	23.92%	23.98%	23.77%	22.93%	20.60%	16.99%	17.24%	16.56%
	0.25%	0.76%	0.16%	0.16%	0.15%	0.14%	0.14%	0.48%	0.38%
	28.06%	35.53%	36.07%	36.29%	35.49%	34.68%	37.53%	36.89%	35.31%
No. of Shareholders	19,086	24,342	24,159	21,654	22,375	23,667	26,214	30,415	32,289

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Ashapura Minechem Ltd

Ashapura Minechem Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

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