Ashapura Minechem Ltd

₹ 393 -0.98%

12 Jun 11:33 a.m.

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 ₹ 3,758 Cr.
Current Price ₹ 393
High / Low ₹ 572 / 200
Stock P/E 13.0
Book Value ₹ 130
Dividend Yield 0.00 %
ROCE 17.1 %
ROE 26.6 %
Face Value ₹ 2.00

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Pros

Company has delivered good profit growth of 41.7% CAGR over last 5 years

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Tax rate seems low

* 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

Consolidated Figures in Rs. Crores / View Standalone

	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
	331	402	198	535	696	1,018	554	713	440	714	604	865	555
	303	351	193	477	637	908	524	655	392	627	540	731	471
Operating Profit	28	51	5	58	59	110	30	58	48	87	64	135	84
OPM %	8%	13%	2%	11%	8%	11%	6%	8%	11%	12%	11%	16%	15%
	13	16	28	20	22	31	32	39	59	4	1	14	56
Interest	15	13	12	20	19	20	12	22	16	17	19	23	30
Depreciation	14	17	19	18	19	18	19	20	21	17	20	12	29
Profit before tax	12	38	1	40	42	103	31	54	70	57	27	113	82
Tax %	7%	18%	5%	28%	27%	6%	12%	15%	13%	8%	-27%	11%	7%
	12	35	6	29	40	102	58	54	67	60	43	108	79
EPS in Rs	1.35	4.29	0.56	3.58	4.37	11.24	6.49	6.16	7.49	6.51	4.64	11.04	9.05
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	1,083	1,753	1,775	833	794	622	334	1,148	1,278	1,831	2,654	2,739
	850	1,483	1,535	794	790	626	380	1,026	1,176	1,653	2,401	2,369
Operating Profit	234	270	240	39	4	-4	-45	122	102	178	252	370
OPM %	22%	15%	14%	5%	1%	-1%	-14%	11%	8%	10%	10%	14%
	6	-225	24	25	20	-265	487	93	112	102	211	75
Interest	30	20	22	17	19	20	31	60	58	68	76	89
Depreciation	26	35	44	48	39	33	28	45	58	73	79	78
Profit before tax	184	-9	198	-1	-33	-322	382	110	98	139	309	278
Tax %	5%	315%	23%	1,502%	36%	2%	-0%	21%	12%	21%	9%	6%
	174	-36	162	-19	-45	-327	383	87	87	110	282	289
EPS in Rs	20.03	-4.19	18.66	-2.17	-5.19	-38.05	44.57	10.06	9.46	12.79	31.37	30.97
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	5%	5%	0%	0%	0%

Compounded Sales Growth
10 Years:	5%
5 Years:	52%
3 Years:	29%
TTM:	3%

Compounded Profit Growth
10 Years:	6%
5 Years:	42%
3 Years:	59%
TTM:	49%

Stock Price CAGR
10 Years:	21%
5 Years:	58%
3 Years:	57%
1 Year:	-2%

Return on Equity
10 Years:	%
5 Years:	22%
3 Years:	24%
Last Year:	27%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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	-117	-162	2	-20	-65	-378	329	417	503	646	912	1,223
	285	188	204	144	185	209	441	664	639	758	984	1,163
	788	1,092	1,207	1,163	1,148	1,203	1,033	1,135	1,264	1,609	1,397	1,526
Total Liabilities	973	1,136	1,430	1,305	1,286	1,051	1,820	2,233	2,424	3,032	3,311	3,931
	282	333	345	336	308	254	544	527	539	584	577	1,349
CWIP	36	29	110	5	21	9	54	204	254	262	504	55
Investments	61	63	146	243	267	180	274	290	268	288	321	344
	593	711	828	721	689	608	947	1,212	1,363	1,897	1,909	2,181
Total Assets	973	1,136	1,430	1,305	1,286	1,051	1,820	2,233	2,424	3,032	3,311	3,931

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	186	231	72	-18	-217	16	-20	114	94	148	188
	-98	-208	-30	-20	160	-156	-168	-63	-130	-274	-392
	-70	-14	-43	36	68	131	182	-60	80	191	178
Net Cash Flow	18	9	-1	-2	11	-9	-5	-9	44	65	-25

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	73	56	61	103	95	61	202	92	89	98	37	73
Inventory Days	431	287	269	329	285	226	532	364	453	420	358	436
Days Payable	222	267	258	265	187	168	328	461	387	446	383	410
Cash Conversion Cycle	282	76	72	166	193	120	406	-5	154	72	13	98
Working Capital Days	-112	-102	-101	-240	-183	-377	12	70	66	86	62	77
ROCE %	135%	211%	153%	10%	0%	-42%	-14%	16%	12%	16%	17%	17%

Shareholding Pattern

Numbers in percentages

3 Recently

	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

Annual reports