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Ashapura Minechem Ltd.

•
ashapura.comBSE: 527001NSE: ASHAPURMIN
Market Cap₹ 5,183 Cr.
Current Price
High / Low₹ 925 / 455
Stock P/E12.7
Book Value₹ 183
Price to Book2.67
Dividend Yield0.37 %
ROCE20.6 %
ROE28.8 %
Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2013 • Minerals: 99.7% • Shipping: 0.3%

AI Sector View

AI GENERATED

Metals & Mining

Hold

The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.

Confidence
61%
View full sector analysis →

PROS

  • Company has delivered good profit growth of 36.6% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 30.4%
  • Company has a healthy return on capital (ROCE) of 20.8%
  • Promoters have been increasing their shareholding - up 2.6pp over 2 years
  • Company has consistently been profitable over the last 5 years
  • Company has delivered good sales growth of 35.5% CAGR over last 5 years

CONS

  • A large part of profit comes from other income (26.7% of PBT)
  • Effective tax rate is unusually low at 6.3% - earnings may be flattered
  • Recurring exceptional / one-off items are inflating headline profit
  • Operating margins have contracted to 10.7% from 14.3%
  • Though reporting repeated profits, the company pays out little dividend (4.8%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Metals & MiningMiningMining & Minerals
Part ofNIFTY MICROCAP250NIFTY TOTAL MKT
S.No.Name
1.COALINDIA425.608.41262285.726.238849.811.3246254.8045.0935.4326.61
2.NMDC82.459.7272488.544.251976.230.436795.250.8427.9835.89
3.KIOCL355.85556.2521626.820.00-15.4859.04158.0173.79-10.27-16.83
4.GMDCLTD575.2019.1318291.361.65163.43-0.21906.6423.7618.2821.12
5.SANDUMA190.3512.909253.010.262278.501263.6413747.801110.8523.7824.91
6.ASHAPURMIN542.6012.745183.250.37108.31-4.911616.1219.2220.6411.63
7.MOIL245.1567.354988.442.17513.84—2677.04—12.6428.40
8.DECNGOLD229.801331.694618.310.00-87.26-210.256.031462.18-20.83-826.53
9.ORISSAMINE3954.550.002372.730.00-7.6175.8028.99330.83-44.94-32.24
10.20MICRONS208.5010.86735.720.6017.745.22244.72-0.9917.8313.13
11.ASOCSTONE25.018.98225.281.607.972887.4144.18-25.1313.6327.86
12.OSWALMIN28.901.0722.400.00————5.85—
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
1,0185547134407146048655551,3569529601,9691,616
9085246553926275407314711,1748228461,8411,500
Operating Profit110305848876413584182131114128116
OPM %10.76%5.50%8.10%10.99%12.18%10.61%15.54%15.21%13.41%13.72%11.91%6.50%7.16%
313239594114566124838
Interest20122216171923303129243429
Depreciation18192021172012293232343537
Profit before Tax1033154705727113821257181141130
Tax %6.02%11.54%14.75%13.14%8.43%-26.61%10.52%7.07%14.31%-35.00%10.88%18.46%16.70%
Net Profit000060431087911410676121108
11.246.496.167.496.514.7111.159.0811.5010.118.8211.5912.07

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
8337946223341,1481,2781,8312,6542,7395,2375,498
7977906293911,0261,1761,6552,4012,3624,6785,009
Operating Profit364-7-57122102176252377559489
OPM %4.28%0.55%-1.12%-17.09%10.65%7.97%9.62%9.51%13.78%10.68%8.89%
11-8-27449080968616075114116
Interest171920316058687696122116
Depreciation483933284558737978133138
Profit before Tax-1-33-32238211098139309304445423
Tax %-1493.06%-36.07%-1.61%-0.27%20.58%11.51%21.32%8.74%5.05%6.32%7.53%
Net Profit-19-45-3273838787110282289416391
EPS-2.17-5.19-38.0544.579.729.6512.7931.3730.9642.01—
Dividend Payout %0.00%0.00%0.00%0.00%4.97%5.29%0.00%0.00%3.23%4.76%—

COMPOUNDED SALES GROWTH

10 Years:
11%
5 Years:
35%
3 Years:
42%

COMPOUNDED PROFIT GROWTH

10 Years:
9%
5 Years:
36%
3 Years:
51%

STOCK PRICE CAGR

10 Years:
24%
5 Years:
31%
3 Years:
27%
1 Year:
-8%

RETURN ON EQUITY

10 Years:
-7%
5 Years:
26%
3 Years:
30%
Last Year:
29%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

2026

Sep 22

₹ 1

Rs.2.0000 per share(100%)Final Dividend

2025

Sep 17

₹ 0.50

Rs.1.0000 per share(50%)Final Dividend

2022

Sep 21

₹ 0.25

Rs.0.5000 per share(25%)Final Dividend

2021

Sep 21

₹ 0.25

Rs.0.5000 per share(25%)Final Dividend

2026

Sep 4

₹ 1

Rs.2.0000 per share(100%)Final Dividend

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital17171717171818181919
Minority Interest0062-0-0-0-7-13-20-4
-20-65-3783254135036379021,2231,630
1223162047369018401,0111,0171,2721,551
Trade Payables205160119138366354564554616934
1,0708481,017589524695795804698527
Total Liabilities1,3941,2771,0411,8062,2222,4103,0183,2833,8094,657
3333052315425255375825751,3471,497
Capital Work in Progress5219542042542625045551
243267180274290268288321344371
254245161224289414532520654585
00000002695471,001
Cash & Bank45426147443378145122329
5153963996658709041,276950738824
Total Assets1,3941,2771,0411,8062,2222,4103,0183,2833,8094,657

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
111-4-19518-6129113148189463
Cash from Investing-30-20160-156-168-63-130-274-392-271
Cash from Financing-433668131182-608019117814
-1-211-9-5-94465-25206

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
45.3947.7047.7047.7547.7547.7947.8848.0348.03
16.3515.6015.8716.3916.2517.8319.0419.3219.22
0.450.130.140.270.230.330.360.310.37
Government0.000.000.000.000.000.000.000.000.00
37.7136.4536.1535.4335.6033.8732.5232.1532.38

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-04
Copy of Newspaper Publication

2026-09-04 - Ashapura Minechem Limited has informed the Exchange about Copy of Newspaper Publication - Notice of Annual General Meeting

2026-09-03
Updates

2026-09-03 - Ashapura Minechem Limited has informed the Exchange regarding ' Letter To Shareholders Whose Email Addresses Are Not Registered'.

2026-09-03
Record Date

2026-09-03 - Ashapura Minechem Limited has informed the Exchange that Record date for the purpose of Dividend is 22-Sep-2026.

2026-09-03
Shareholders meeting

2026-09-03 - Ashapura Minechem Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 29, 2026

2026-08-31
Shareholders meeting

2026-08-31 - Ashapura Minechem Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.

2026-08-31
Shareholders meeting

2026-08-31 - Ashapura Minechem Limited has informed the Exchange regarding Proceedings of Postal Ballot

2026-08-27
Outcome of Board Meeting

2026-08-27 - Ashapura Minechem Limited has informed the Exchange regarding Outcome of Board Meeting held on August 27, 2026.

2026-08-27
Copy of Newspaper Publication

2026-08-27 - Ashapura Minechem Limited has informed the Exchange about Copy of Newspaper Publication - Notice to the Members ‐ Regarding Registration of Email Address, Bank Account Details and TDS Documents

2026-08-24
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-24 - Ashapura Minechem Limited has informed the Exchange about Transcript

News

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