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Ashapura Minechem Ltd.

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ashapura.comBSE: 527001NSE: ASHAPURMIN
Market Cap₹ 5,263 Cr.
Current Price
High / Low₹ 925 / 455
Stock P/E35.2
Book Value₹ 51
Price to Book9.61
Dividend Yield0.36 %
ROCE36.3 %
ROE40.1 %
Face Value₹ 2

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ABOUT

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 22.7% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 76.2%
  • Company has a healthy return on capital (ROCE) of 53.5%
  • Promoters have been increasing their shareholding - up 2.6pp over 2 years
  • Operating margins have improved to 31.7% from 14.5%

CONS

  • Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.07x)
  • A large part of profit comes from other income (25.5% of PBT)
  • Operating cash flow has been negative in recent years
  • Contingent liabilities are large at 70.0% of net worth
  • Effective tax rate is unusually low at -1.8% - earnings may be flattered
  • Company has delivered a poor sales growth of 0.5% over past five years

* 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.COALINDIA431.508.52265921.736.148849.811.3246254.8045.0935.4326.61
2.NMDC85.6010.0975257.964.091976.230.436795.250.8427.9835.89
3.KIOCL373.65584.0722708.620.00-15.4859.04158.0173.79-10.27-16.83
4.GMDCLTD574.6519.1118273.871.65163.43-0.21906.6423.7618.2821.12
5.SANDUMA201.0013.639770.710.252278.501263.6413747.801110.8523.7824.91
6.ASHAPURMIN550.9012.935262.530.36108.31-4.911616.1219.2220.6411.63
7.MOIL251.9569.225126.812.12513.84—2677.04—12.6428.40
8.DECNGOLD219.551272.294412.310.00-87.26-210.256.031462.18-20.83-826.53
9.ORISSAMINE4145.250.002487.150.00-7.6175.8028.99330.83-44.94-32.24
10.20MICRONS217.9511.35769.070.5717.745.22244.72-0.9917.8313.13
11.ASOCSTONE24.668.85222.121.627.972887.4144.18-25.1313.6327.86
12.OSWALMIN28.901.0722.400.00————5.85—
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
9167977978749712310687121118111
525868685462781056565937382
Operating Profit3983010231219184222284528
OPM %43.22%12.69%30.42%13.17%30.03%16.40%19.94%14.60%39.14%25.18%23.37%37.94%25.73%
415115825624144165
Interest4333222133332
Depreciation3333322223222
Profit before Tax36183563211322164030265633
Tax %-18.24%-6.81%-6.10%-8.84%-15.85%-11.19%-19.90%-23.29%25.09%-115.67%27.34%26.33%25.99%
Net Profit42193768241426203065194125
4.622.074.037.472.621.502.742.133.126.762.014.302.59

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
236239337206421598223333372432437
273268363245341590230245298295313
Operating Profit-38-29-25-39808-88873137123
OPM %-15.99%-11.92%-7.47%-19.14%18.99%1.32%-3.42%26.42%19.68%31.67%28.26%
13-5-1746841264088153738
Interest101110143531231571211
Depreciation242423212020151091010
Profit before Tax-59-69-7439366-16-615172152146
Tax %-0.00%-0.00%-0.00%0.00%15.54%-0.00%-20.39%-10.20%-17.95%-1.80%-2.75%
Net Profit-59-69-7439356-16-716685155150
EPS0.00-7.90-8.5445.216.18-175.00-0.7718.198.8516.19—
Dividend Payout %0.00%0.00%0.00%0.00%7.82%-29.22%0.00%0.00%11.30%12.36%—

COMPOUNDED SALES GROWTH

10 Years:
-3%
5 Years:
1%
3 Years:
25%

COMPOUNDED PROFIT GROWTH

10 Years:
9%
5 Years:
23%
3 Years:
—

STOCK PRICE CAGR

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

RETURN ON EQUITY

10 Years:
44%
5 Years:
34%
3 Years:
76%
Last Year:
40%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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
-276-344-419-2431187172294439
5818936388324270314168207163
Trade Payables5044675011710651607050
8507298941551932331961299577
Total Liabilities699636595587682646586546685747
210194174159141127106949392
Capital Work in Progress2573132678
44443144444040404040
88140132107118115104929087
0000000131246319
Cash & Bank762222171328212858
349247230253361349307162181143
Total Assets699636595587682646586546685747

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
18-44180424641-13-3475
Cash from Investing-14-515-154-2133-14-5
Cash from Financing-850-2015-51-41-27-2754-43
-6-012-1-7-212-7527

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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

Recent coverage and analyst commentary for ASHAPURMIN

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