Ashapura Minechem Ltd

Ashapura Minechem Ltd

₹ 412 -0.24%
23 Feb 4:01 p.m.
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

  • Market Cap 3,772 Cr.
  • Current Price 412
  • High / Low 483 / 96.6
  • Stock P/E 17.2
  • Book Value 87.8
  • Dividend Yield 0.00 %
  • ROCE 16.3 %
  • ROE 19.0 %
  • Face Value 2.00

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 37.6% CAGR over last 5 years

Cons

  • Stock is trading at 4.69 times its book value
  • Promoters have pledged 30.7% of their holding.
  • Earnings include an other income of Rs.123 Cr.

* 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
350 320 452 270 225 331 402 198 535 696 1,018 554 713
312 272 381 242 253 303 351 193 477 637 908 524 655
Operating Profit 37 47 71 29 -28 28 51 5 58 59 110 30 58
OPM % 11% 15% 16% 11% -12% 8% 13% 2% 11% 8% 11% 6% 8%
10 38 20 28 34 13 16 28 20 22 31 32 39
Interest 8 16 18 14 8 15 13 12 20 19 20 12 22
Depreciation 9 18 14 15 14 14 17 19 18 19 18 19 20
Profit before tax 29 51 58 27 -16 12 38 1 40 42 103 31 54
Tax % 9% 38% 6% 3% -38% 7% 18% 5% 28% 27% 6% 12% 15%
29 34 60 34 -20 12 35 6 29 40 102 58 54
EPS in Rs 3.36 3.88 6.94 3.71 -2.20 1.35 4.29 0.56 3.58 4.37 11.24 6.49 6.16
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
659 772 1,083 1,753 1,775 833 794 622 334 1,148 1,278 1,831 2,981
604 620 850 1,483 1,535 794 790 626 380 1,026 1,176 1,653 2,724
Operating Profit 54 152 234 270 240 39 4 -4 -45 122 102 178 257
OPM % 8% 20% 22% 15% 14% 5% 1% -1% -14% 11% 8% 10% 9%
3 -21 6 -225 24 25 20 -265 487 93 112 102 123
Interest 57 55 30 20 22 17 19 20 31 60 58 68 73
Depreciation 28 26 26 35 44 48 39 33 28 45 58 73 77
Profit before tax -28 50 184 -9 198 -1 -33 -322 382 110 98 139 230
Tax % -20% 11% 5% -315% 23% -1,502% -36% -2% -0% 21% 12% 21%
-34 44 174 -36 162 -19 -45 -327 383 87 87 110 254
EPS in Rs -4.26 5.32 20.03 -4.19 18.66 -2.17 -5.19 -38.05 44.57 10.06 9.46 12.79 28.26
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 5% 5% 0%
Compounded Sales Growth
10 Years: 9%
5 Years: 18%
3 Years: 76%
TTM: 103%
Compounded Profit Growth
10 Years: 8%
5 Years: 38%
3 Years: 51%
TTM: 170%
Stock Price CAGR
10 Years: 25%
5 Years: 80%
3 Years: 54%
1 Year: 262%
Return on Equity
10 Years: %
5 Years: %
3 Years: 17%
Last Year: 19%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 16 17 17 17 17 17 17 17 17 17 18 18 18
Reserves -364 -302 -117 -162 2 -20 -65 -378 325 413 503 637 785
448 412 285 188 204 144 185 209 441 664 639 758 786
751 753 788 1,092 1,207 1,163 1,148 1,203 1,037 1,138 1,264 1,637 1,477
Total Liabilities 851 880 973 1,136 1,430 1,305 1,286 1,051 1,820 2,233 2,424 3,050 3,066
303 270 282 333 345 336 308 254 544 527 539 584 587
CWIP 32 30 36 29 110 5 21 9 54 204 254 262 310
Investments 6 5 61 63 146 243 267 180 274 290 268 288 310
509 574 593 711 828 721 689 608 947 1,212 1,363 1,915 1,860
Total Assets 851 880 973 1,136 1,430 1,305 1,286 1,051 1,820 2,233 2,424 3,050 3,066

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
57 188 0 186 231 72 -18 -217 16 -20 114 97
-41 -21 0 -98 -208 -30 -20 160 -156 -168 -63 -130
-28 -156 0 -70 -14 -43 36 68 131 182 -60 80
Net Cash Flow -13 12 0 18 9 -1 -2 11 -9 -5 -9 47

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 91 88 73 56 61 103 95 61 202 92 89 98
Inventory Days 315 923 431 287 269 329 285 226 532 364 453 420
Days Payable 157 376 222 267 258 265 187 168 328 461 387 360
Cash Conversion Cycle 249 636 282 76 72 166 193 120 406 -5 154 158
Working Capital Days -173 -163 -112 -102 -101 -240 -183 -377 12 70 66 86
ROCE % 28% 99% 136% 211% 153% 10% 0% -42% -14% 16% 12% 16%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
41.42% 41.71% 44.58% 44.58% 44.58% 44.74% 44.79% 45.22% 45.33% 45.33% 45.33% 45.33%
22.93% 22.15% 21.07% 21.12% 20.60% 19.12% 16.32% 16.35% 16.99% 17.09% 18.03% 17.56%
0.15% 0.16% 0.14% 0.14% 0.14% 0.14% 0.14% 0.14% 0.14% 0.14% 0.19% 0.18%
35.49% 35.98% 34.21% 34.17% 34.68% 36.00% 38.75% 38.29% 37.53% 37.43% 36.44% 36.92%
No. of Shareholders 22,37523,80223,24124,00223,66726,22828,42428,03326,21425,55727,46631,091

* 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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