Ashapura Logistics Ltd.

•

₹ 60.1-3.22%

2026-08-21

ashapura.inBSE: -NSE: ASHALOG

Market Cap₹ 80 Cr.

Current Price₹ 62

High / Low₹ 93 / 50

Stock P/E8.9

Book Value₹ 93

Price to Book0.68

Dividend Yield0.00 %

ROCE14.1 %

ROE12.9 %

Face Value₹ 10

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ABOUT

KEY POINTS

PROS

Attractively priced for its growth - PEG of 0.6
Company maintains a comfortable, low leverage position

CONS

Operating cash flow has been negative in recent years
Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.02x)
Working capital days have increased from 73 to 116 days
Total debt has risen sharply - up 49.5% year on year

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

Peer comparison

EDIT COLUMNS

ServicesLogisticsLogistics

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	CONCOR	514.00	31.52	39147.16	1.67	268.90	0.61	2159.76	0.28	14.79	20.41
2.	DELHIVERY	448.00	358.82	33562.68	0.00	31.91	-64.96	2930.73	27.76	3.02	4.75
3.	SHADOWFAX	265.20	139.25	15555.60	0.00	654.00	6732.86	13581.20	1806.32	4.90	6.76
4.	BLACKBUCK	613.80	66.23	11180.37	0.00	42.17	25.14	204.17	42.17	-31.80	24.35
5.	TCI	914.10	15.38	7023.13	1.09	106.60	-0.56	1248.50	9.58	20.52	12.30
6.	TVSSCS	120.95	82.41	5336.60	0.00	22.48	-96.84	3335.22	28.66	11.51	6.75
7.	VRLLOG	231.45	0.00	4048.92	0.00	805.30	1509.31	8788.40	1080.70	26.47	21.23
8.	MAHLOG	406.00	104.69	4028.43	0.62	27.83	394.81	2002.88	23.29	10.40	5.76
9.	SINDHUTRAD	24.29	48.39	3745.35	0.00	38.74	-79.39	129.21	-21.85	12.80	45.34
10.	GATEWAY	54.17	11.08	2706.57	6.00	512.68	724.44	5492.97	897.94	17.99	21.31
11.	TCIEXP	547.00	25.50	2102.90	1.28	20.49	5.24	313.40	9.29	13.92	10.03
12.	ASHALOG	59.30	8.92	80.39	0.00	—	—	—	—	14.12	—

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

No quarterly results found

We don't have this information yet. Please check back later.

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	227	222	199	231
	206	200	172	205
Operating Profit	21	23	27	28
OPM %	9	10	13	12
Other Income	0	1	0	2
Interest	5	4	4	4
Depreciation	6	7	7	7
	10	13	17	17
Tax %	23	25	26	26
Net Profit	8	9	12	12
EPS	8	10	12	9
Dividend Payout %	0	0	0	0
Minority Interest	-0	-0	0	-0
Share of Associates	-0	-0	-0	0
Adjusted EPS	8	10	12	9
Minority Interest	-0	-0	0	-0
Share of Associates	-0	-0	-0	0
Adjusted EPS	8	10	12	9

Mar 2022

: 227
: 206
Operating Profit: 21
OPM %: 9
Other Income: 0
Interest: 5
Depreciation: 6
: 10
Tax %: 23
Net Profit: 8
EPS: 8
Dividend Payout %: 0
Minority Interest: -0
Share of Associates: -0
Adjusted EPS: 8
Minority Interest: -0
Share of Associates: -0
Adjusted EPS: 8

Mar 2023

: 222
: 200
Operating Profit: 23
OPM %: 10
Other Income: 1
Interest: 4
Depreciation: 7
: 13
Tax %: 25
Net Profit: 9
EPS: 10
Dividend Payout %: 0
Minority Interest: -0
Share of Associates: -0
Adjusted EPS: 10
Minority Interest: -0
Share of Associates: -0
Adjusted EPS: 10

Mar 2024

: 199
: 172
Operating Profit: 27
OPM %: 13
Other Income: 0
Interest: 4
Depreciation: 7
: 17
Tax %: 26
Net Profit: 12
EPS: 12
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: -0
Adjusted EPS: 12
Minority Interest: 0
Share of Associates: -0
Adjusted EPS: 12

Mar 2025

: 231
: 205
Operating Profit: 28
OPM %: 12
Other Income: 2
Interest: 4
Depreciation: 7
: 17
Tax %: 26
Net Profit: 12
EPS: 9
Dividend Payout %: 0
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: 9
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: 9

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 1%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 16%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -9%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 19%
Last Year:: 13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-
Equity Capital	0	0	10	14
	38	48	55	117
	34	32	27	33
Trade Payables	24	10	11	12
	20	15	23	38
Total Liabilities	116	105	126	213
ASSETS	-	-	-	-
	32	29	32	57
Capital Work in Progress	0	0	0	6
	0	0	0	5
	0	0	71	94
Cash & Bank	1	2	6	4
	82	74	18	48
Total Assets	116	105	126	213
Total Debt	43	35	41	62
Net Working Capital	15	21	40	74
Contingent Liabilities	0	0	5	3
Book Value per Share	1046.77	1303.42	66.03	92.76
Face Value	10.00	10.00	10.00	10.00
Total Debt	43	35	41	62
Net Working Capital	15	21	40	74
Contingent Liabilities	0	0	5	3
Book Value per Share	1046.77	1303.42	66.03	92.76
Face Value	10.00	10.00	10.00	10.00

Mar 2022

Equity Capital: 0
: 38
: 34
Trade Payables: 24
: 20
Total Liabilities: 116
: 32
Capital Work in Progress: 0
: 0
: 0
Cash & Bank: 1
: 82
Total Assets: 116
Total Debt: 43
Net Working Capital: 15
Contingent Liabilities: 0
Book Value per Share: 1046.77
Face Value: 10.00
Total Debt: 43
Net Working Capital: 15
Contingent Liabilities: 0
Book Value per Share: 1046.77
Face Value: 10.00

Mar 2023

Equity Capital: 0
: 48
: 32
Trade Payables: 10
: 15
Total Liabilities: 105
: 29
Capital Work in Progress: 0
: 0
: 0
Cash & Bank: 2
: 74
Total Assets: 105
Total Debt: 35
Net Working Capital: 21
Contingent Liabilities: 0
Book Value per Share: 1303.42
Face Value: 10.00
Total Debt: 35
Net Working Capital: 21
Contingent Liabilities: 0
Book Value per Share: 1303.42
Face Value: 10.00

Mar 2024

Equity Capital: 10
: 55
: 27
Trade Payables: 11
: 23
Total Liabilities: 126
: 32
Capital Work in Progress: 0
: 0
: 71
Cash & Bank: 6
: 18
Total Assets: 126
Total Debt: 41
Net Working Capital: 40
Contingent Liabilities: 5
Book Value per Share: 66.03
Face Value: 10.00
Total Debt: 41
Net Working Capital: 40
Contingent Liabilities: 5
Book Value per Share: 66.03
Face Value: 10.00

Mar 2025

Equity Capital: 14
: 117
: 33
Trade Payables: 12
: 38
Total Liabilities: 213
: 57
Capital Work in Progress: 6
: 5
: 94
Cash & Bank: 4
: 48
Total Assets: 213
Total Debt: 62
Net Working Capital: 74
Contingent Liabilities: 3
Book Value per Share: 92.76
Face Value: 10.00
Total Debt: 62
Net Working Capital: 74
Contingent Liabilities: 3
Book Value per Share: 92.76
Face Value: 10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	21	16	6	-21
Cash from Investing	-7	-4	-9	-50
Cash from Financing	-15	-11	8	69
	-0	1	4	-2
Free Cash Flow	21	12	-3	-59
OCF / Net Profit	2.68	1.64	0.48	-1.70
Cumulative 5-Year FCF	0	0	0	0
OCF / Net Profit	2.68	1.64	0.48	-1.70
Cumulative 5-Year FCF	0	0	0	0

Mar 2022

: 21
Cash from Investing: -7
Cash from Financing: -15
: -0
Free Cash Flow: 21
OCF / Net Profit: 2.68
Cumulative 5-Year FCF: 0
OCF / Net Profit: 2.68
Cumulative 5-Year FCF: 0

Mar 2023

: 16
Cash from Investing: -4
Cash from Financing: -11
: 1
Free Cash Flow: 12
OCF / Net Profit: 1.64
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.64
Cumulative 5-Year FCF: 0

Mar 2024

: 6
Cash from Investing: -9
Cash from Financing: 8
: 4
Free Cash Flow: -3
OCF / Net Profit: 0.48
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.48
Cumulative 5-Year FCF: 0

Mar 2025

: -21
Cash from Investing: -50
Cash from Financing: 69
: -2
Free Cash Flow: -59
OCF / Net Profit: -1.70
Cumulative 5-Year FCF: 0
OCF / Net Profit: -1.70
Cumulative 5-Year FCF: 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE	-	-	-	-
EPS (₹)	212.38	256.65	12.48	9.06
Book Value (₹)	1046.77	1303.42	66.03	92.76
Dividend per Share (₹)	0.00	0.00	0.00	0.00
Cash EPS (₹)	14.14	17.00	19.16	14.29
PROFITABILITY	-	-	-	-
Operating Margin %	9.41%	10.41%	13.33%	11.33%
Net Margin %	3.47%	4.27%	6.21%	5.35%
ROE %	20.46%	21.90%	21.80%	12.93%
ROCE %	19.29%	19.84%	21.32%	14.12%
	6.81%	8.60%	10.69%	7.27%
EFFICIENCY	-	-	-	-
Debtor Days	105	100	116	130
Inventory Days	0	0	0	0
Payable Days	0	0	0	0
	105	100	116	130
FINANCIAL HEALTH	-	-	-	-
Debt to Equity (x)	1.11x	0.73x	0.63x	0.49x
Interest Coverage (x)	2.88x	4.42x	5.59x	5.02x
	1.22x	1.43x	1.79x	2.10x
GROWTH	-	-	-	-
Revenue Growth %	0.00%	-2.27%	-10.28%	16.06%
Operating Profit Growth %	0.00%	8.21%	16.27%	3.58%
Net Profit Growth %	0.00%	20.14%	30.46%	0.03%
	0.00%	0.00%	-95.14%	-27.40%
VALUATION	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	6.95x
P/B (x)	0.00x	0.00x	0.00x	0.68x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	1.70x	5.15x

Mar 2022

EPS (₹): 212.38
Book Value (₹): 1046.77
Dividend per Share (₹): 0.00
Cash EPS (₹): 14.14
Operating Margin %: 9.41%
Net Margin %: 3.47%
ROE %: 20.46%
ROCE %: 19.29%
: 6.81%
Debtor Days: 105
Inventory Days: 0
Payable Days: 0
: 105
Debt to Equity (x): 1.11x
Interest Coverage (x): 2.88x
: 1.22x
Revenue Growth %: 0.00%
Operating Profit Growth %: 0.00%
Net Profit Growth %: 0.00%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 256.65
Book Value (₹): 1303.42
Dividend per Share (₹): 0.00
Cash EPS (₹): 17.00
Operating Margin %: 10.41%
Net Margin %: 4.27%
ROE %: 21.90%
ROCE %: 19.84%
: 8.60%
Debtor Days: 100
Inventory Days: 0
Payable Days: 0
: 100
Debt to Equity (x): 0.73x
Interest Coverage (x): 4.42x
: 1.43x
Revenue Growth %: -2.27%
Operating Profit Growth %: 8.21%
Net Profit Growth %: 20.14%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 12.48
Book Value (₹): 66.03
Dividend per Share (₹): 0.00
Cash EPS (₹): 19.16
Operating Margin %: 13.33%
Net Margin %: 6.21%
ROE %: 21.80%
ROCE %: 21.32%
: 10.69%
Debtor Days: 116
Inventory Days: 0
Payable Days: 0
: 116
Debt to Equity (x): 0.63x
Interest Coverage (x): 5.59x
: 1.79x
Revenue Growth %: -10.28%
Operating Profit Growth %: 16.27%
Net Profit Growth %: 30.46%
: -95.14%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 1.70x

Mar 2025

EPS (₹): 9.06
Book Value (₹): 92.76
Dividend per Share (₹): 0.00
Cash EPS (₹): 14.29
Operating Margin %: 11.33%
Net Margin %: 5.35%
ROE %: 12.93%
ROCE %: 14.12%
: 7.27%
Debtor Days: 130
Inventory Days: 0
Payable Days: 0
: 130
Debt to Equity (x): 0.49x
Interest Coverage (x): 5.02x
: 2.10x
Revenue Growth %: 16.06%
Operating Profit Growth %: 3.58%
Net Profit Growth %: 0.03%
: -27.40%
P/E (x): 6.95x
P/B (x): 0.68x
Dividend Yield %: 0.00%
: 5.15x

Shareholding Pattern

Numbers in percentages

TRADES

	Sep 2024	Mar 2025	Sep 2025	Mar 2026	Jun 2026
	67.51	68.03	68.03	68.03	68.03
	4.26	2.24	1.20	1.06	1.05
	0.55	0.72	1.35	1.24	0.81
Government	0.00	0.00	0.00	0.00	0.00
	27.68	29.01	29.43	29.67	30.11

Sep 2024

: 67.51
: 4.26
: 0.55
Government: 0.00
: 27.68

Mar 2025

: 68.03
: 2.24
: 0.72
Government: 0.00
: 29.01

Sep 2025

: 68.03
: 1.20
: 1.35
Government: 0.00
: 29.43

Mar 2026

: 68.03
: 1.06
: 1.24
Government: 0.00
: 29.67

Jun 2026

: 68.03
: 1.05
: 0.81
Government: 0.00
: 30.11

Documents

Announcements

Nothing filed yet.

Annual Reports

Annual Report FY2025
2025
Annual Report FY2024
2024

Credit Ratings

Nothing filed yet.

Concalls

Nothing filed yet.