Ashapura Minechem Ltd

₹ 499 -1.76%

19 Mar 9:17 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 ₹ 4,771 Cr.
Current Price ₹ 499
High / Low ₹ 925 / 316
Stock P/E 12.5
Book Value ₹ 149
Dividend Yield 0.20 %
ROCE 18.6 %
ROE 27.1 %
Face Value ₹ 2.00

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Pros

Company is expected to give good quarter
Company has delivered good profit growth of 43.2% CAGR over last 5 years

Cons

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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	535	696	1,018	554	713	440	714	604	865	555	1,356	952	960
	477	637	908	524	655	392	627	540	731	471	1,174	822	846
Operating Profit	58	59	110	30	58	48	87	64	135	84	182	131	114
OPM %	11%	8%	11%	6%	8%	11%	12%	11%	16%	15%	13%	14%	12%
	20	22	31	32	39	59	4	10	20	56	12	12	28
Interest	20	19	20	12	22	16	17	19	23	30	31	29	24
Depreciation	18	19	18	19	20	21	17	20	12	29	32	32	34
Profit before tax	40	42	103	31	54	70	57	36	119	82	132	81	85
Tax %	28%	27%	6%	12%	15%	13%	8%	-20%	10%	7%	14%	-30%	10%
	29	40	102	58	54	67	60	43	108	79	114	106	76
EPS in Rs	3.58	4.37	11.24	6.49	6.16	7.49	6.51	4.64	11.04	9.05	11.50	10.11	8.82
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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	TTM
	1,083	1,753	1,775	833	794	622	334	1,148	1,278	1,831	2,654	2,739	3,824
	850	1,483	1,535	794	790	626	380	1,026	1,176	1,653	2,401	2,362	3,312
Operating Profit	234	270	240	39	4	-4	-45	122	102	178	252	377	511
OPM %	22%	15%	14%	5%	1%	-1%	-14%	11%	8%	10%	10%	14%	13%
	6	-225	24	25	20	-265	487	93	112	102	211	101	108
Interest	30	20	22	17	19	20	31	60	58	68	76	96	114
Depreciation	26	35	44	48	39	33	28	45	58	73	79	78	127
Profit before tax	184	-9	198	-1	-33	-322	382	110	98	139	309	304	379
Tax %	5%	315%	23%	1,502%	36%	2%	-0%	21%	12%	21%	9%	5%
	174	-36	162	-19	-45	-327	383	87	87	110	282	289	374
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	39.48
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	5%	5%	0%	0%	3%

Compounded Sales Growth
10 Years:	5%
5 Years:	52%
3 Years:	29%
TTM:	46%

Compounded Profit Growth
10 Years:	6%
5 Years:	43%
3 Years:	60%
TTM:	65%

Stock Price CAGR
10 Years:	21%
5 Years:	37%
3 Years:	71%
1 Year:	47%

Return on Equity
10 Years:	%
5 Years:	22%
3 Years:	25%
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	Sep 2025
Equity Capital	17	17	17	17	17	17	17	17	18	18	18	19	19
Reserves	-117	-162	2	-20	-65	-378	329	417	503	646	912	1,223	1,407
	285	188	204	144	185	209	441	664	639	758	984	1,163	1,228
	788	1,092	1,207	1,163	1,148	1,203	1,033	1,135	1,264	1,609	1,397	1,526	1,498
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	4,152
	282	333	345	336	308	254	544	527	539	584	577	1,349	1,339
CWIP	36	29	110	5	21	9	54	204	254	262	504	55	72
Investments	61	63	146	243	267	180	274	290	268	288	321	344	363
	593	711	828	721	689	608	947	1,212	1,363	1,897	1,909	2,181	2,377
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	4,152

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	447	390	506
Days Payable	222	267	258	265	187	168	328	461	387	475	415	477
Cash Conversion Cycle	282	76	72	166	193	120	406	-5	154	70	12	103
Working Capital Days	-163	-125	-118	-266	-214	-405	-32	35	35	56	21	36
ROCE %	135%	211%	153%	10%	0%	-42%	-14%	16%	12%	16%	17%	19%

Insights

In beta

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Jun 2027 (P)

Bentonite Sales Value (as % of Turnover)
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Export Contribution to Total Turnover
% ・Includes some standalone data

Permanent Employees (Standalone)
Number ・Standalone data

Bleaching Earth Sales Value (as % of Turnover)
%

Bauxite Export/Production Volume
Million Metric Tons

Guinea Port Handling Capacity
Million Metric Tons

R&D Expenditure (Percentage of Turnover)
% ・Standalone data

Shareholding Pattern

Numbers in percentages

13 Recently

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	45.33%	45.33%	45.33%	45.33%	45.39%	45.39%	47.70%	47.70%	47.76%	47.76%	47.79%	47.88%
	16.99%	17.09%	18.03%	17.56%	17.24%	16.45%	15.72%	16.00%	16.56%	16.42%	18.02%	19.25%
	0.14%	0.14%	0.19%	0.18%	0.48%	0.45%	0.13%	0.14%	0.38%	0.26%	0.35%	0.38%
	37.53%	37.43%	36.44%	36.92%	36.89%	37.71%	36.44%	36.14%	35.31%	35.57%	33.83%	32.49%
No. of Shareholders	26,214	25,557	27,466	31,091	30,415	29,928	33,974	30,705	32,289	33,267	36,096	39,757

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Dec 2025
	48.43%	39.78%	39.78%	39.78%	41.42%	44.58%	45.33%	45.39%	47.76%	47.88%
	23.26%	23.92%	23.98%	23.77%	22.93%	20.60%	16.99%	17.24%	16.56%	19.25%
	0.25%	0.76%	0.16%	0.16%	0.15%	0.14%	0.14%	0.48%	0.38%	0.38%
	28.06%	35.53%	36.07%	36.29%	35.49%	34.68%	37.53%	36.89%	35.31%	32.49%
No. of Shareholders	19,086	24,342	24,159	21,654	22,375	23,667	26,214	30,415	32,289	39,757

* 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

Insights

Shareholding Pattern

Documents

Announcements

Annual reports

Concalls