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Ashapura Minechem Ltd (ASHAPURMIN)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 527001 NSE: ASHAPURMIN Mining & Minerals | Small Cap | Ashapura Minechem Share Price

₹739.85 16.70 (2.31%)

As on 04-Jun'26 16:59

Ashapura Minechem Ltd (ASHAPURMIN)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 527001 NSE: ASHAPURMIN Mining & Minerals | Small Cap | Ashapura Minechem Share Price

₹739.85 16.70 (2.31%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹7,068 Cr.
Current Price
₹739.9
52-Week Low / High
₹360 / 925
TTM EPS
₹16.2
TTM Sales
₹432 Cr.
Book Value per Share
₹47.9
P/E Ratio
45.70
Higher than its 5-year historical median
Industry PE
15.9
Price to Book (P/B)
15.44
Lower than its 5-year historical median
Price to Sales (P/S)
16.35
Higher than its 5-year historical median
EV/EBITDA
40.33
Higher than its 5-year historical median
Dividend Yield
0.28%
Profitability Efficiency
Return on Equity (ROE)
33.63%
Outperforms industry median
Return on Capital Employed (ROCE)
24.93%
Outperforms industry median
Return on Assets (ROA)
13.75%
Operating Profit Margin
19.7%
Net Profit Margin
22.76%
Gross Profit Margin
21.8%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
11.52%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-16.92%
Net Profit Growth (1 Year)
-
-49.2%
Asset Quality
Promoter Holding
48.03%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹439 Cr.
Equity
₹19.1 Cr.
Face Value
₹2
All Time Low / High
₹1.00 / 924.70

Ashapura Minechem stock performance

Key Ratios
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Quality

Somewhat Good
Check detailed performance

Valuation

Overvalued

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Price Trend

Strong
Check Price chart
Q.1 Is Ashapura Minechem Ltd a good quality company?
Ashapura Minechem Ltd is a average quality company, based on a somewhat consistent 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.

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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.

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How does Ashapura Minechem Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Ashapura Minechem Ltd vs industry peers?
Ashapura Minechem Ltd revenue CAGR is 12.53%, compared to the industry median CAGR of 1.53%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Ashapura Minechem Ltd?
Promoters hold 48.03% of the Ashapura Minechem Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Ashapura Minechem Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 24.3% based on the current price.
View More

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 end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

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.
Ashapura Minechem Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation ⓘ

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % ⓘ0%0%0%0%0%88.6%12.3%17.5%99.3%24.9%-
Value Creation
Index ⓘ		NANANANANA5.3-0.10.36.10.8-

Growth Parameters ⓘ
Sales ⓘ592236239337206421598223333372432
Sales YoY Gr.--60.2%1.5%41.1%-39%104.8%41.9%-62.8%49.6%11.5%-
Adj EPS ⓘ6.2-6.6-6.3-3.7104.7-2.1-1.212.48.516.2
YoY Gr.--207.3%NANANA-53.2%-144.3%NANA-31.1%-
BVPS (₹) ⓘ-23.6-29.8-37.6-46.2-0.85.542.720.832.847.9
Adj Net
Profit ⓘ		53.7-57.6-54.7-3286.740.6-19-11.111381.6155
Cash Flow from Ops. ⓘ14616.5-45.616.9-140.141.538.1-12.9-46.4-
Debt/CF from Ops. ⓘ0.54.1-1.32.7-94.82.11.71.4-3.5-1.7-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ-5.1%12.5%-14.7%11.5%
Adj EPS ⓘ3.7%-3.1%NA-31.1%
BVPSⓘNANA101.6%57.8%
Share Price 26.5% 37.7% 81.4% 89.9%

Key Financial Parameters ⓘ

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity % ⓘ		-22.624.818.78.8-42.9168.1-42.9-31.396.831.840.1
Op. Profit
Mgn % ⓘ		12.4-15.1-9.83.5-8.119.11.3-2.526.419.731.6
Net Profit
Mgn % ⓘ		9.1-24.4-22.9-9.542.19.6-3.2-5342235.8
Debt to
Equity ⓘ		-0.4-0.3-0.2-0.1-13.41.81.92.20.20.30.1
Working Cap
Days ⓘ		305705591379598343274676409423231
Cash Conv.
Cycle ⓘ		137285276161272152115274155191166

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales592236239337206421598223333372
Operating Expenses ⓘ + 519273268363245341590230245298
Manufacturing Costs82695661584352567781
Material Costs10992107132861693107085120
Employee Cost 38363130242125283030
Other Costs ⓘ 290767413977107203765468
Operating Profit ⓘ 73-38-29-25-39808-88873
Operating Profit Margin (%) 12.4%-16.0%-11.9%-7.5%-19.1%19.0%1.3%-3.4%26.4%19.7%
Other Income ⓘ + 61310972226401315
Exceptional Items ⓘ 150-15-264611900750
Interest ⓘ 1010111014353123157
Depreciation ⓘ 2024242321202015109
Profit Before Tax ⓘ 65-59-69-7439366-16-615172
Tax ⓘ 000001001-15-13
Profit After Tax 65-59-69-7439356-16-716685
PAT Margin (%) 10.9%-25.0%-28.7%-22.0%191.1%13.2%-2.6%-3.2%50.0%22.8%
Adjusted EPS (₹)7.4-6.8-7.9-8.545.26.4-1.7-0.818.28.9
Dividend Payout Ratio (%)0%0%0%0%0%7.80%-29.20%0%0%11.30%

Valuation of Ashapura Minechem - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + -205-259-327-401-7483725190313
Share Capital ⓘ 17171717171718181819
Reserves ⓘ -223-276-344-419-2431187172294
Debt +68584936846743171777
Long Term Debt42332414846742171777
Short Term Debt26252521001000
Minority Interest0000000000
Trade Payables9350446750117106516070
Others Liabilities ⓘ 836850870894460450461493279223
Total Liabilities ⓘ 792699636595587682646586546684

Fixed Assets

Net Fixed Assets ⓘ +1892101941741591411271069493
Gross Block296334341337334336340295286292
Accumulated Depreciation107125147164175195213190192199
CWIP ⓘ 49257313267
Investments ⓘ 39444431444440404040
Inventories121881401321071181151049290
Trade Receivables1851387271111213154117131245
Cash Equivalents 167622221713282128
Others Assets ⓘ 193211175159142148195190162181
Total Assets ⓘ 792699636595587682646586546684

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ + 14616-4617-1404138-13-46
PBT ⓘ 49-59-69-7439366-16-615172
Adjustment ⓘ 4222262767413313-310
Changes in Working Capital ⓘ 4255-265-460-642833-158-131
Tax Paid ⓘ -2-1-1-2-1-2-4-3-34
Cash Flow From Investing Activity ⓘ + -102-14-515-154-2133-2
Capex -108-24-10-2-4-1-5-427-8
Net Investments 00013-130-1000
Others ⓘ 61054253556
Cash Flow From Financing Activity ⓘ + -48-850-2015-51-41-27-2754
Net Proceeds from Shares ⓘ 00000011000
Net Proceeds from Borrowing ⓘ 41-9-9-970-17-25-10-1033
Interest Paid ⓘ -27-6-8-7-37-35-30-22-17-8
Dividend Paid ⓘ -000000-4-5-0-0
Others ⓘ -62767-4-180810029
Net Cash Flow ⓘ -3-6-012-1-7-212-75

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)N/AN/AN/AN/AN/A270.37-36.98-22.81154.9333.63
ROCE (%)N/AN/AN/AN/AN/A88.6312.2617.599.2824.93
Asset Turnover Ratio0.790.320.360.550.350.660.90.360.590.6
PAT to CFO Conversion(x)2.25N/AN/AN/A-00.71N/AN/A-0.08-0.54
Working Capital Days
Receivable Days118.4025016077.10161.10140.40112.20222.20135.80184.70
Inventory Days69.80161.30173.50146.80211.3097.2071179.80107.8089.30
Payable Days240.50284.60160.30152.70249180131.10407.20238198.30

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *30.7230.6830.6814.7914.790.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Ashapura Minechem Ltd FAQs

The current trading price of Ashapura Minechem on 04-Jun-2026 16:59 is ₹739.9.

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 03-Jun-2026 the market cap of Ashapura Minechem stood at ₹7,067.5 Cr

The latest P/E ratio of Ashapura Minechem as of 03-Jun-2026 is 45.70.

The latest P/B ratio of Ashapura Minechem as of 03-Jun-2026 is 15.44.

The 52-week high of Ashapura Minechem is ₹924.7 and the 52-week low is ₹360.2.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Ashapura Minechem is ₹432 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Ashapura Minechem Ltd is a average quality company.

The key valuation ratios of Ashapura Minechem Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Ashapura Minechem Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Ashapura Minechem Ltd

Ashapura Minechem stands as a premier provider of multi-mineral solutions globally, leveraging extensive mineral reserves and advanced manufacturing facilities to cater to various industries. With operations spanning across India and other countries, the company has established itself as a key player in Bentonite, Minerals and Refractory Raw Materials segments. Leveraging a workforce of over thousands of individuals and a strong commitment to quality and tailored mineral solutions, the company has earned the trust of multinational clients in many countries. 

Ashapura Minechem places a strong emphasis on sustainability and environmental stewardship, as evidenced by its participation in initiatives towards energy conservation efforts. Additionally, the company actively engages in community development through the Ashapura Foundation, supporting rural development, cultural preservation and educational initiatives. As a preferred supplier to multinational corporations in many countries, the company has showcased its dedication to transparency and responsible business practices.

Business area of the company

The company is engaged in the mining, manufacturing and trading of various minerals and its derivative products and related services.

Products

  • Bauxite
  • Bentonite
  • Kaolin
  • Limestone
  • Silica Sand
  • Gypsum

Milestones

  • 1981: Ashapura set up an 800 sq. ft. office in Bhavnagar, Gujarat.
  • 1981: Ashapura's marketing hub was set up at Nariman Point, Mumbai.
  • 1982: Ashapura Minechem Pvt. Ltd. was formed, marking the corporatisation of the business.
  • 1983: Ashapura acquired a 10,000 sq. meter plot at Chitra Industrial Estate, GIDC, Bhavnagar
  • 1984: Ashapura loaded its first Bentonite rake from Bhuj.
  • 1984: Ashapura acquired 26 acres of land at Madhapar, Bhuj, for Bentonite processing.
  • 1987: Ashapura gained a foothold by becoming a preferred supplier to ONGC.
  • 1992: Ashapura Foundation was established for social amelioration.
  • 1993: Ashapura Minechem Ltd. was listed on the Bombay Stock Exchange (BSE).
  • 1996: Ashapura’s first foray in Bauxite. First shipment of 25,000 tons to RUSAL.
  • 1996: Ashapura Claytech Ltd. is formed at Dharur, Andhra Pradesh, for making Attapulgite-based granules for pesticides.
  • 1998: Ashapura inducts AMCOL, U.S.A. (the world’s largest Bentonite company), into Ashapura Minechem Ltd.
  • 1998: Chetan Shah officially takes charge of the Ashapura Group as Joint Managing Director.
  • 2001: Ashapura inaugurates its Bleaching Clay Plant at Ler.
  • 2001: Ashapura crosses Rs 100 crore in turnover for the first time.
  • 2001: Ashapura acquires Bauxite mining leases in Western Ghats, Maharashtra.
  • 2001: Ashapura provides relief after the devastating earthquake in Kachchh; Kutch Navnirman Trust builds a colony for resettlement of locals with over 110 dwellings.
  • 2002: Ashapura acquires Bombay Minerals Ltd.
  • 2003: Ashapura Balmandir and Primary School are established in Bhuj.
  • 2004: Ashapura Minechem (UAE) FZE is established in Dubai.
  • 2004: The Clay Catalyst business is inducted in the Bleaching Clay processing complex at Ler.
  • 2006: The Mineral Processing Complex in Belgium was established.
  • 2006: Ashapura invests in a Bleaching Clay company in Malaysia.
  • 2006: The concept of Mobile Medical Clinics set into motion to cover 104 of the remotest villages in Kachchh.
  • 2007: Strategic investment by Ashapura into Bedi Port.
  • 2008: Ashapura Women’s Academy was established for the welfare, education and reskilling of women.
  • 2010: Oman mineral processing complex established.
  • 2011: The Beijing, China office established.
  • 2013: Ashapura acquires 18% stake in Orient Abrasives Ltd.
  • 2014: Ashapura further acquires 20% in Orient Abrasives Ltd.
  • 2015: Silica sand, Calcined Kaolin and Ground Calcium Carbonate processing plants commissioned.
  • 2016: A brand-new plant for Geosynthetic Clay Liners was commissioned.
  • 2016: Ashapura pioneers the manufacturing of Proppants in India.
  • 2019: Entered into an INR Denominated Secured Term Loan Agreement of Rs 78 crore with Elara Finance (India) on November 21, 2019, for repayment of existing obligations of Bank/Financial Institution(s).
  • 2023: Step-down subsidiary -- Ashapura Holdings (UAE) FZE concluded and signed 2 contracts for the supply of Bauxite from Guinea and Ashapura Guinea Resources SARL (a step-down subsidiary of Ashapura Minechem) concluded and signed a contract for the supply of Iron Ore from Guinea.
  • 2025: Overseas subsidiary entered into a long-term MoU with China Railway, a Global Fortune 500 Company, to jointly develop its Fako bauxite deposit in the Kindia region of Guinea.
  • 2025: Overseas subsidiary executed a long-term Strategic Co-operation Agreement on September 15, 2025 in China, with China Railway to jointly develop its Boffa bauxite deposit in Guinea.

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