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10 Yrs X-Ray 
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About
Ashima Ltd (ASHIMASYN)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 514286 NSE: ASHIMASYN Construction - Real Estate | Small Cap | Ashima Share Price
₹15.95 -0.10 (-0.62%)
As on 24-Sep'26 16:59
Ashima Ltd (ASHIMASYN)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 514286 NSE: ASHIMASYN Construction - Real Estate | Small Cap | Ashima Share Price
₹15.95 -0.10 (-0.62%)
As on 24-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹306 Cr.
Current Price
₹16
52-Week Low / High
₹11 / 24
TTM EPS
₹-1.1
TTM Sales
₹12 Cr.
Book Value per Share
₹14.6
P/E Ratio
0.00
Industry PE
44.1
Price to Book (P/B)
1.09
Lower than its 5-year historical median
Price to Sales (P/S)
25.45
Higher than its 5-year historical median
EV/EBITDA
143.33
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
-1.62%
Underperforms industry median
Return on Capital Employed (ROCE)
0.65%
Underperforms industry median
Return on Assets (ROA)
-0.97%
Operating Profit Margin
-26.3%
Net Profit Margin
-38.88%
Gross Profit Margin
-49%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
0.19%
Operating Profit Growth (1 Year)
-
-266.58%
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
73.49%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹88 Cr.
Equity
₹191.7 Cr.
Face Value
₹10
All Time Low / High
₹1.56 / 77.66
Check Before You Invest
Quality
Not GoodValuation
FairCheck Valuation charts
Price Trend
Semi Strong
Is Ashima Ltd a good quality company?
Ashima Ltd is a weak quality company, based on a inconsistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Ashima Ltd performance compare with that of its Peers?
Revenue growth of Ashima Ltd vs industry peers?
Ashima Ltd revenue CAGR is -46.94%, compared to the industry median CAGR of 0%, indicating slower growth and losing its market share.
Promoter shareholding and pledge status of Ashima Ltd?
Promoters hold 73.49% of the Ashima Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Ashima Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 0.1% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Ashima Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 31.9% | 82.8% | 18.3% | -0.5% | 1.8% | 11.8% | -2.2% | 21% | 1.6% | 0.2% | - |
| Value Creation Index ⓘ | 1.3 | 4.9 | 0.3 | -1.0 | -0.9 | -0.2 | -1.2 | 0.5 | -0.9 | -1.0 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 193 | 230 | 336 | 285 | 104 | 208 | 207 | 89.6 | 10.4 | 10.4 | 18 |
| Sales YoY Gr. | - | 19.2% | 46% | -15% | -63.6% | 100.5% | -0.5% | -56.7% | -88.4% | 0.2% | - |
| Adj EPS ⓘ | -0.7 | 1.9 | 1.2 | -1 | 0.1 | 0 | -0.5 | 3.6 | 0 | -0.4 | -0.2 |
| YoY Gr. | - | NA | -39.8% | -188.7% | NA | -75% | -1600% | NA | -98.9% | -975% | - |
| BVPS (₹) ⓘ | 4.2 | 12.5 | 24.4 | 15.8 | 11 | 11.9 | 11.5 | 16.5 | 15.6 | 14.4 | 14.5 |
| Adj Net Profit ⓘ | -8.7 | 24.5 | 10.7 | -5.4 | 2.4 | 0.7 | -8.7 | 69.2 | 0.7 | -6.7 | -3 |
| Cash Flow from Ops. ⓘ | -12.4 | -8.4 | -25.5 | 3.9 | -8 | -26.4 | -23.9 | -38.5 | -19.4 | -40.9 | - |
| Debt/CF from Ops. ⓘ | -6.3 | -3.4 | -1.1 | 6.5 | -2.8 | -0.7 | -1.4 | -3.2 | -6.3 | -4 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -27.7% | -36.9% | -63.1% | 0.2% | ||||
| Adj EPS ⓘ | NA | -223.9% | NA | -975% | ||||
| BVPSⓘ | 14.7% | 5.6% | 7.8% | -7.7% | ||||
| Share Price | 0% | -1.4% | 5.2% | -30.4% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -23.8 | 22.9 | 5.5 | -2.4 | 1.1 | 0.3 | -3.9 | 25.8 | 0.2 | -2.3 | -1.2 |
| Op. Profit Mgn % ⓘ | -6 | -4.8 | -1 | -1.3 | -2.7 | -3.1 | -2.4 | 80.5 | 54.1 | -44.6 | -30 |
| Net Profit Mgn % ⓘ | -4.5 | 10.7 | 3.2 | -1.9 | 2.3 | 0.3 | -4.2 | 77.2 | 6.8 | -63.9 | -18 |
| Debt to Equity ⓘ | 1.5 | 0.2 | 0.1 | 0.3 | 0.1 | 0.1 | 0.2 | 0.4 | 0.4 | 0.6 | - |
| Working Cap Days ⓘ | 132 | 165 | 160 | 166 | 346 | 191 | 240 | 797 | 8,799 | 9,617 | 3,946 |
| Cash Conv. Cycle ⓘ | 47 | 46 | 39 | 43 | 108 | 75 | 103 | -103 | 5,251 | 8,491 | 2,835 |
Valuation of Ashima - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'09 | Mar'10 | Mar'11 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 208 | 225 | 259 | 336 | 285 | 104 | 207 | 90 | 10 | 12 |
| Operating Expenses ⓘ + | 208 | 220 | 248 | 340 | 289 | 107 | 215 | 18 | 6 | 19 |
| Operating Profit ⓘ | 0 | 5 | 11 | -4 | -4 | -3 | -7 | 72 | 4 | -7 |
| Operating Profit Margin (%) | 0.1% | 2.2% | 4.2% | -1.3% | -1.3% | -2.8% | -3.5% | 80.3% | 38.8% | -56.5% |
| Other Income ⓘ + | 1 | 2 | 1 | 18 | 8 | 11 | 3 | 2 | 3 | 10 |
| Interest ⓘ | 4 | 1 | 1 | 8 | 2 | 2 | 2 | 4 | 7 | 9 |
| Depreciation ⓘ | 16 | 16 | 14 | 6 | 5 | 3 | 3 | 1 | 1 | 0 |
| Profit Before Tax ⓘ | -28 | -44 | -5 | 33 | -3 | 3 | 26 | 69 | -0 | -6 |
| Tax ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | -1 |
| Profit After Tax | -28 | -44 | -5 | 33 | -3 | 3 | 26 | 69 | -0 | -5 |
| PAT Margin (%) | -13.6% | -19.4% | -2.0% | 9.7% | -1.2% | 2.4% | 12.5% | 77.0% | -2.3% | -38.9% |
| Adjusted EPS (₹) | -6.6 | -10.2 | -1.2 | 3.5 | -0.6 | -0.6 | 0.9 | 5.0 | -1.0 | -1.1 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'09 | Mar'10 | Mar'11 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | -239 | -251 | -218 | 225 | 82 | 209 | 226 | 317 | 299 | 277 | |
| Debt + | 510 | 508 | 471 | 25 | 22 | 19 | 15 | 111 | 121 | 164 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 21 | 17 | 17 | 54 | 39 | 21 | 42 | 43 | 5 | 9 | |
| Others Liabilities ⓘ | 12 | 12 | 12 | 15 | 154 | 21 | 34 | 27 | 27 | 63 | |
| Total Liabilities ⓘ | 304 | 286 | 282 | 319 | 296 | 269 | 318 | 498 | 452 | 512 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 248 | 234 | 218 | 137 | 139 | 134 | 117 | 131 | 47 | 42 | |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 1 | 1 | 8 | 7 | 0 | 0 | |
| Investments ⓘ | 0 | 0 | 0 | 13 | 15 | 3 | 13 | 31 | 31 | 137 | |
| Inventories | 39 | 35 | 51 | 73 | 58 | 37 | 77 | 187 | 201 | 290 | |
| Trade Receivables | 18 | 21 | 18 | 25 | 16 | 14 | 22 | 37 | 4 | 2 | |
| Cash Equivalents | 5 | 8 | 6 | 17 | 17 | 53 | 27 | 70 | 95 | 28 | |
| Others Assets ⓘ | -6 | -12 | -12 | 54 | 50 | 28 | 54 | 34 | 74 | 12 | |
| Total Assets ⓘ | 304 | 286 | 282 | 319 | 296 | 269 | 318 | 498 | 452 | 512 | |
| PARTICULARS | Mar'09 | Mar'10 | Mar'11 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | -3 | 6 | -2 | -26 | 4 | -8 | -26 | -39 | -20 | -40 |
| Cash Flow From Investing Activity ⓘ + | 2 | 0 | 1 | 55 | 13 | -7 | 37 | -3 | 29 | -41 |
| Cash Flow From Financing Activity ⓘ | -1 | -3 | -0 | -24 | -20 | 13 | -6 | 86 | -10 | 34 |
| Net Proceeds from Shares ⓘ + | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Cash Flow ⓘ | -2 | 3 | -2 | 6 | -2 | -2 | 6 | 44 | -0 | -48 |
| PARTICULARS | Mar'09 | Mar'10 | Mar'11 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | N/A | N/A | N/A | 0 | -2.2 | 1.73 | 11.87 | 25.43 | -0.08 | -1.62 |
| ROCE (%) | N/A | N/A | N/A | 17.79 | -0.54 | 1.96 | 11.83 | 21.24 | 1.52 | 0.65 |
| Asset Turnover Ratio | 0.65 | 0.76 | 0.91 | 1.12 | 0.99 | 0.38 | 0.73 | 0.22 | 0.02 | 0.02 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | -0.79 | N/A | -2.67 | -1 | -0.57 | N/A | N/A |
| Working Capital Days | ||||||||||
| Receivable Days | 28.40 | 31.50 | 27 | 23.20 | 24.90 | 52 | 30.90 | 120.90 | 716.90 | 92.20 |
| Inventory Days | 73.20 | 60.60 | 61.10 | 67.80 | 79.20 | 161.30 | 96.70 | 537.50 | 6,763.80 | 7,471.70 |
| Payable Days | 75.50 | 59.80 | 44.10 | 76.10 | 112.30 | 198.20 | 93.10 | 1,717.90 | 0 | 875 |
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Ashima Ltd FAQs
The current trading price of Ashima on 24-Sep-2026 16:59 is ₹15.95.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 23-Sep-2026 the market cap of Ashima stood at ₹305.7 Cr
The latest P/E ratio of Ashima as of 23-Sep-2026 is 0.00.
The latest P/B ratio of Ashima as of 23-Sep-2026 is 1.10.
The 52-week high of Ashima is ₹23.84 and the 52-week low is ₹11.30.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Ashima is ₹18.12 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Ashima Ltd is a below average quality company.
The key valuation ratios of Ashima Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Ashima Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Ashima Ltd
Ashima, an Ashima group company, was incorporated as a private company in 1982 in Gujarat and was subsequently converted into a public company on August 26, 1988. It is engaged in the business of textiles. The chairman and managing director of the company is Chintan N. Parikh. The other key executives of the company are AtulKumar Singh, Hiren Mahadevia and Shrikant Pareek. The registered office of ASHIMA is at Texcellence Complex, Khokhra Mehmedabad, Ahmedabad - 380 021. INDIA.
Ashima engages in the manufacture and sale of textile and related products in India. It offers fabrics, denims, cotton yarns, and shirting products.ASHIMA manufactures product groups like denim, high value yarn dyed shirting and attires. The product range of the company includes open end and ring spun denim It offers 10.5 million meters per annum of denim fabrics in 100% cotton for jeans, shorts and jackets, casual shirts, and kids wear. Ashima also offers fully bleached white, piece-dyed and yarn-dyed shirtings; PFD; piece-dyed and yarn-dyed bottom weights; tubular, open-width and piece-dyed mercerized knitted fabrics etc.
Its plants are located at Mehsana and Ahmedabad in Gujarat. The installed capacities of Ashima are 174,647 spindles, 2,800 rotors, 1,872 looms, 17 million meters of cloth processing and 2,139.05 MT of yarn/fabric processing per annum. Ashima is the first textile company to adopt and get certified for integrated quality and environmental management system ISO 9001:2000 and ISO 14001:2004.
Ashima markets its products under the brand names Frank Jefferson and Icon. It exports its products to more than 45 countries. The company has two subsidiary companies, namely Ashim Cotton and Ashim Textiles Inc., USA.
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