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/E0.0

Book Value₹ 79

Price to Book0.80

Dividend Yield0.00 %

ROCE10.4 %

ROE8.8 %

Face Value₹ 10

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ABOUT

KEY POINTS

PROS

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 -0.55x)
Total debt has risen sharply - up 54.7% year on year
Working capital days have increased from 80 to 120 days

* 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

Standalone Figures in Rs. Crores / View Consolidated

No standalone quarterly results found

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

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	137	148	172	145	176
	123	135	158	130	159
Operating Profit	14	13	14	16	18
OPM %	10	9	8	11	10
Other Income	0	0	0	1	2
Interest	2	4	3	3	4
Depreciation	2	1	2	3	5
	10	8	10	10	9
Tax %	25	26	25	26	26
Net Profit	7	6	7	7	7
EPS	200	159	8	7	5
Dividend Payout %	0	0	0	0	0
Minority Interest	0	0	0	0	0
Share of Associates	0	0	0	0	0
Adjusted EPS	8	6	8	7	5
Minority Interest	0	0	0	0	0
Share of Associates	0	0	0	0	0
Adjusted EPS	8	6	8	7	5

Mar 2021

: 137
: 123
Operating Profit: 14
OPM %: 10
Other Income: 0
Interest: 2
Depreciation: 2
: 10
Tax %: 25
Net Profit: 7
EPS: 200
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8

Mar 2022

: 148
: 135
Operating Profit: 13
OPM %: 9
Other Income: 0
Interest: 4
Depreciation: 1
: 8
Tax %: 26
Net Profit: 6
EPS: 159
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6

Mar 2023

: 172
: 158
Operating Profit: 14
OPM %: 8
Other Income: 0
Interest: 3
Depreciation: 2
: 10
Tax %: 25
Net Profit: 7
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 2024

: 145
: 130
Operating Profit: 16
OPM %: 11
Other Income: 1
Interest: 3
Depreciation: 3
: 10
Tax %: 26
Net Profit: 7
EPS: 7
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7

Mar 2025

: 176
: 159
Operating Profit: 18
OPM %: 10
Other Income: 2
Interest: 4
Depreciation: 5
: 9
Tax %: 26
Net Profit: 7
EPS: 5
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 6%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 6%

STOCK PRICE CAGR

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

RETURN ON EQUITY

10 Years:: —
5 Years:: 18%
3 Years:: 15%
Last Year:: 9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-
Equity Capital	0	0	0	10	14
	26	32	40	42	98
	18	26	27	27	33
Trade Payables	20	14	7	5	7
	15	14	11	20	34
Total Liabilities	80	86	84	104	186
ASSETS	-	-	-	-	-
	10	11	11	17	42
Capital Work in Progress	0	0	0	0	6
	4	3	4	4	9
	0	0	0	59	82
Cash & Bank	0	1	1	5	2
	66	72	68	19	45
Total Assets	80	86	84	104	186
Total Debt	26	32	29	40	61
Net Working Capital	16	20	23	32	58
Contingent Liabilities	0	0	0	3	2
Book Value per Share	726.59	885.52	1083.48	52.45	78.96
Face Value	10.00	10.00	10.00	10.00	10.00
Total Debt	26	32	29	40	61
Net Working Capital	16	20	23	32	58
Contingent Liabilities	0	0	0	3	2
Book Value per Share	726.59	885.52	1083.48	52.45	78.96
Face Value	10.00	10.00	10.00	10.00	10.00

Mar 2021

Equity Capital: 0
: 26
: 18
Trade Payables: 20
: 15
Total Liabilities: 80
: 10
Capital Work in Progress: 0
: 4
: 0
Cash & Bank: 0
: 66
Total Assets: 80
Total Debt: 26
Net Working Capital: 16
Contingent Liabilities: 0
Book Value per Share: 726.59
Face Value: 10.00
Total Debt: 26
Net Working Capital: 16
Contingent Liabilities: 0
Book Value per Share: 726.59
Face Value: 10.00

Mar 2022

Equity Capital: 0
: 32
: 26
Trade Payables: 14
: 14
Total Liabilities: 86
: 11
Capital Work in Progress: 0
: 3
: 0
Cash & Bank: 1
: 72
Total Assets: 86
Total Debt: 32
Net Working Capital: 20
Contingent Liabilities: 0
Book Value per Share: 885.52
Face Value: 10.00
Total Debt: 32
Net Working Capital: 20
Contingent Liabilities: 0
Book Value per Share: 885.52
Face Value: 10.00

Mar 2023

Equity Capital: 0
: 40
: 27
Trade Payables: 7
: 11
Total Liabilities: 84
: 11
Capital Work in Progress: 0
: 4
: 0
Cash & Bank: 1
: 68
Total Assets: 84
Total Debt: 29
Net Working Capital: 23
Contingent Liabilities: 0
Book Value per Share: 1083.48
Face Value: 10.00
Total Debt: 29
Net Working Capital: 23
Contingent Liabilities: 0
Book Value per Share: 1083.48
Face Value: 10.00

Mar 2024

Equity Capital: 10
: 42
: 27
Trade Payables: 5
: 20
Total Liabilities: 104
: 17
Capital Work in Progress: 0
: 4
: 59
Cash & Bank: 5
: 19
Total Assets: 104
Total Debt: 40
Net Working Capital: 32
Contingent Liabilities: 3
Book Value per Share: 52.45
Face Value: 10.00
Total Debt: 40
Net Working Capital: 32
Contingent Liabilities: 3
Book Value per Share: 52.45
Face Value: 10.00

Mar 2025

Equity Capital: 14
: 98
: 33
Trade Payables: 7
: 34
Total Liabilities: 186
: 42
Capital Work in Progress: 6
: 9
: 82
Cash & Bank: 2
: 45
Total Assets: 186
Total Debt: 61
Net Working Capital: 58
Contingent Liabilities: 2
Book Value per Share: 78.96
Face Value: 10.00
Total Debt: 61
Net Working Capital: 58
Contingent Liabilities: 2
Book Value per Share: 78.96
Face Value: 10.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	10	1	10	2	-24
Cash from Investing	-0	-2	-3	-8	-47
Cash from Financing	-10	1	-7	10	68
	-1	0	0	4	-3
Free Cash Flow	10	-1	8	-6	-60
OCF / Net Profit	1.31	0.16	1.38	0.34	-3.43
Cumulative 5-Year FCF	0	0	0	0	0
OCF / Net Profit	1.31	0.16	1.38	0.34	-3.43
Cumulative 5-Year FCF	0	0	0	0	0

Mar 2021

: 10
Cash from Investing: -0
Cash from Financing: -10
: -1
Free Cash Flow: 10
OCF / Net Profit: 1.31
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.31
Cumulative 5-Year FCF: 0

Mar 2022

: 1
Cash from Investing: -2
Cash from Financing: 1
: 0
Free Cash Flow: -1
OCF / Net Profit: 0.16
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.16
Cumulative 5-Year FCF: 0

Mar 2023

: 10
Cash from Investing: -3
Cash from Financing: -7
: 0
Free Cash Flow: 8
OCF / Net Profit: 1.38
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.38
Cumulative 5-Year FCF: 0

Mar 2024

: 2
Cash from Investing: -8
Cash from Financing: 10
: 4
Free Cash Flow: -6
OCF / Net Profit: 0.34
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.34
Cumulative 5-Year FCF: 0

Mar 2025

: -24
Cash from Investing: -47
Cash from Financing: 68
: -3
Free Cash Flow: -60
OCF / Net Profit: -3.43
Cumulative 5-Year FCF: 0
OCF / Net Profit: -3.43
Cumulative 5-Year FCF: 0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE	-	-	-	-	-
EPS (₹)	200.39	158.93	197.95	7.12	5.17
Book Value (₹)	726.59	885.52	1083.48	52.45	78.96
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	9.74	7.65	9.45	10.06	8.75
PROFITABILITY	-	-	-	-	-
Operating Margin %	10.35%	8.80%	8.41%	10.35%	9.15%
Net Margin %	5.38%	3.96%	4.25%	4.86%	4.00%
ROE %	27.58%	19.72%	20.11%	15.37%	8.82%
ROCE %	23.06%	19.58%	18.93%	15.99%	10.38%
	9.17%	7.01%	8.53%	7.49%	4.83%
EFFICIENCY	-	-	-	-	-
Debtor Days	149	130	108	140	146
Inventory Days	0	0	0	0	0
Payable Days	0	0	0	0	0
	149	130	108	140	146
FINANCIAL HEALTH	-	-	-	-	-
Debt to Equity (x)	0.99x	0.98x	0.74x	0.76x	0.57x
Interest Coverage (x)	5.19x	3.14x	4.31x	3.92x	3.38x
	1.34x	1.40x	1.56x	1.74x	1.96x
GROWTH	-	-	-	-	-
Revenue Growth %	0.00%	7.72%	16.13%	-15.42%	20.99%
Operating Profit Growth %	0.00%	-8.49%	10.97%	9.29%	16.37%
Net Profit Growth %	0.00%	-20.69%	24.55%	-3.19%	-0.55%
	0.00%	0.00%	0.00%	-96.40%	-27.38%
VALUATION	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	0.00x	12.17x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.80x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	2.82x	7.87x

Mar 2021

EPS (₹): 200.39
Book Value (₹): 726.59
Dividend per Share (₹): 0.00
Cash EPS (₹): 9.74
Operating Margin %: 10.35%
Net Margin %: 5.38%
ROE %: 27.58%
ROCE %: 23.06%
: 9.17%
Debtor Days: 149
Inventory Days: 0
Payable Days: 0
: 149
Debt to Equity (x): 0.99x
Interest Coverage (x): 5.19x
: 1.34x
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 2022

EPS (₹): 158.93
Book Value (₹): 885.52
Dividend per Share (₹): 0.00
Cash EPS (₹): 7.65
Operating Margin %: 8.80%
Net Margin %: 3.96%
ROE %: 19.72%
ROCE %: 19.58%
: 7.01%
Debtor Days: 130
Inventory Days: 0
Payable Days: 0
: 130
Debt to Equity (x): 0.98x
Interest Coverage (x): 3.14x
: 1.40x
Revenue Growth %: 7.72%
Operating Profit Growth %: -8.49%
Net Profit Growth %: -20.69%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 197.95
Book Value (₹): 1083.48
Dividend per Share (₹): 0.00
Cash EPS (₹): 9.45
Operating Margin %: 8.41%
Net Margin %: 4.25%
ROE %: 20.11%
ROCE %: 18.93%
: 8.53%
Debtor Days: 108
Inventory Days: 0
Payable Days: 0
: 108
Debt to Equity (x): 0.74x
Interest Coverage (x): 4.31x
: 1.56x
Revenue Growth %: 16.13%
Operating Profit Growth %: 10.97%
Net Profit Growth %: 24.55%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 7.12
Book Value (₹): 52.45
Dividend per Share (₹): 0.00
Cash EPS (₹): 10.06
Operating Margin %: 10.35%
Net Margin %: 4.86%
ROE %: 15.37%
ROCE %: 15.99%
: 7.49%
Debtor Days: 140
Inventory Days: 0
Payable Days: 0
: 140
Debt to Equity (x): 0.76x
Interest Coverage (x): 3.92x
: 1.74x
Revenue Growth %: -15.42%
Operating Profit Growth %: 9.29%
Net Profit Growth %: -3.19%
: -96.40%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 2.82x

Mar 2025

EPS (₹): 5.17
Book Value (₹): 78.96
Dividend per Share (₹): 0.00
Cash EPS (₹): 8.75
Operating Margin %: 9.15%
Net Margin %: 4.00%
ROE %: 8.82%
ROCE %: 10.38%
: 4.83%
Debtor Days: 146
Inventory Days: 0
Payable Days: 0
: 146
Debt to Equity (x): 0.57x
Interest Coverage (x): 3.38x
: 1.96x
Revenue Growth %: 20.99%
Operating Profit Growth %: 16.37%
Net Profit Growth %: -0.55%
: -27.38%
P/E (x): 12.17x
P/B (x): 0.80x
Dividend Yield %: 0.00%
: 7.87x

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.