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ASI Industries Ltd (ASOCSTONE)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 502015 NSE: ASOCSTONE Mining & Minerals | Small Cap | ASI Industries Share Price

₹24.46 0.22 (0.91%)

As on 04-Jun'26 16:59

ASI Industries Ltd (ASOCSTONE)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 502015 NSE: ASOCSTONE Mining & Minerals | Small Cap | ASI Industries Share Price

₹24.46 0.22 (0.91%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹220 Cr.
Current Price
₹24.5
52-Week Low / High
₹19 / 37
TTM EPS
₹2.5
TTM Sales
₹149 Cr.
Book Value per Share
₹31.8
P/E Ratio
9.71
Lower than its 5-year historical median
Industry PE
15.9
Price to Book (P/B)
0.77
Lower than its 5-year historical median
Price to Sales (P/S)
1.47
Higher than its 5-year historical median
EV/EBITDA
6.50
Lower than its 5-year historical median
Dividend Yield
1.23%
Profitability Efficiency
Return on Equity (ROE)
9.95%
Outperforms industry median
Return on Capital Employed (ROCE)
13.63%
Outperforms industry median
Return on Assets (ROA)
6.64%
Operating Profit Margin
15.7%
Net Profit Margin
16.44%
Gross Profit Margin
27.1%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
6.97%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
22.5%
Net Profit Growth (1 Year)
-
1.35%
Asset Quality
Promoter Holding
73.07%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹278 Cr.
Equity
₹9 Cr.
Face Value
₹1
All Time Low / High
₹0.48 / 65.89

ASI Industries stock performance

Key Ratios
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Check Before You Invest

Quality

Not Good
Check detailed performance

Valuation

Fair

Check Valuation charts

Price Trend

Weak
Check Price chart
Q.1 Is ASI Industries Ltd a good quality company?
ASI Industries 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.

View More

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.

View More
How does ASI Industries Ltd performance compare with that of its Peers?
Q.1 Revenue growth of ASI Industries Ltd vs industry peers?
ASI Industries Ltd revenue CAGR is 1.53%, compared to the industry median CAGR of 1.53%, indicating stable growth and maintaining its market share.
Q.1 Promoter shareholding and pledge status of ASI Industries Ltd?
Promoters hold 73.07% of the ASI Industries Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of ASI Industries Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 4.5% 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.
ASI Industries 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'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % ⓘ16.8%14.3%11.1%11.6%0.8%4.9%-2.8%10.6%14.3%13.6%-
Value Creation
Index ⓘ		0.20.0-0.2-0.2-0.9-0.7-1.2-0.20.00.0-

Growth Parameters ⓘ
Sales ⓘ172235239181143173202138145155149
Sales YoY Gr.-36.7%1.7%-24.3%-20.7%20.7%16.5%-31.7%5.1%7%-
Adj EPS ⓘ1.421.82.3-0.41.20.92.12.62.62.5
YoY Gr.-42.9%-12%29.6%-116.7%NA-31.5%143.5%25.1%0.8%-
BVPS (₹) ⓘ14.216.718.119.924.124.622.724.626.530.331.8
Adj Net
Profit ⓘ		11.616.614.618.9-3.211.27.718.623.423.523
Cash Flow from Ops. ⓘ-20.820.516.316.522.824.45619.633.6-3.4-
Debt/CF from Ops. ⓘ-56.27.39.610.410.21.11.50.9-9.2-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ-1.2%1.5%-8.4%7%
Adj EPS ⓘ7.2%NA45.4%0.8%
BVPSⓘ8.8%4.7%10.1%14.4%
Share Price 5.4% -2.9% 16.9% -28%

Key Financial Parameters ⓘ

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity % ⓘ		5.87.76.37.7-1.23.82.66.27.478.1
Op. Profit
Mgn % ⓘ		18.212.511.9183.214.718.917.613.715.713.5
Net Profit
Mgn % ⓘ		6.776.110.4-2.26.53.813.616.215.215.2
Debt to
Equity ⓘ		0.90.90.811.21.10.30.10.10.10
Working Cap
Days ⓘ		378259265377405255225321293286205
Cash Conv.
Cycle ⓘ		117118146202237186147182154122135

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales172235239181143173202138145155
Operating Expenses ⓘ + 141206211148139148196116125130
Manufacturing Costs51576362505669657481
Material Costs5210810343464940330
Employee Cost 29303429262733282930
Other Costs ⓘ 9101214161654191919
Operating Profit ⓘ 312928335256222024
Operating Profit Margin (%) 18.2%12.4%11.9%18.0%3.2%14.4%3.0%16.1%13.7%15.7%
Other Income ⓘ + 81177546112219
Exceptional Items ⓘ 1000000000
Interest ⓘ 129878612322
Depreciation ⓘ 55666722555
Profit Before Tax ⓘ 23262227-516-22253537
Tax ⓘ 9878-25-771012
Profit After Tax 14181419-311-15172525
PAT Margin (%) 8.3%7.7%6.1%10.6%-2.2%6.3%-7.2%12.6%17.4%16.4%
Adjusted EPS (₹)1.72.21.82.3-0.41.2-1.61.92.82.8
Dividend Payout Ratio (%)13.90%13.80%17.20%13%0%0%0%10.40%12.60%14.20%

Valuation of ASI Industries - 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 + 205226237252287307290307322353
Share Capital ⓘ 7888899999
Reserves ⓘ 199218229244278298281298313344
Debt +9511810814422123261272830
Long Term Debt675753839411540632
Short Term Debt2860556112611721212528
Minority Interest0000000000
Trade Payables25901373121
Others Liabilities ⓘ 30373636486329231518
Total Liabilities ⓘ 356390382432558609383358366401

Fixed Assets

Net Fixed Assets ⓘ +160162172170186392174167165162
Gross Block206167183186208420207199200199
Accumulated Depreciation4651116222833323437
CWIP ⓘ 2001219360133
Investments ⓘ 283836355570866085101
Inventories10121920192212966
Trade Receivables76937984687959634747
Cash Equivalents 1287713104642
Others Assets ⓘ 667768104243048525581
Total Assets ⓘ 356390382432558609383358366401

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ + -212116162324562034-3
PBT ⓘ 23262227-516-22253537
Adjustment ⓘ 1268101314632-8-11
Changes in Working Capital ⓘ -33-3-4-1319021014-19
Tax Paid ⓘ -12-8-8-8-4-5-6-7-8-10
Cash Flow From Investing Activity ⓘ + -11-71-44-91-2613719-324
Capex -7-2-18-68-125-27199-1-32
Net Investments -2700000-4728-35-6
Others ⓘ 23-51924351-15-779
Cash Flow From Financing Activity ⓘ + 36-13-1928676-195-37-4-3
Net Proceeds from Shares ⓘ 0000000000
Net Proceeds from Borrowing ⓘ 38000000000
Interest Paid ⓘ 0-9-8-7-7-6-11-3-2-2
Dividend Paid ⓘ -2-2-2-2-2000-2-3
Others ⓘ -0-2-9387712-185-34-02
Net Cash Flow ⓘ 41-20-14-22-2-2

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)12.9714.0710.0412.12-1.75.21-6.848.1110.929.95
ROCE (%)16.8414.2911.1311.610.844.85-2.7910.5814.3113.63
Asset Turnover Ratio0.470.630.620.440.290.30.410.370.40.4
PAT to CFO Conversion(x)-1.51.171.140.84N/A2.18N/A1.181.36-0.12
Working Capital Days
Receivable Days204.60131.20130.80164.20193155124.90161.60139.40111.60
Inventory Days23.1017.1023.7039.2049.7043.4030.7027.6019.2014.30
Payable Days306.1057.40174.8015.4038.5045.30272.20224.401,234.70

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

ASI Industries Ltd FAQs

The current trading price of ASI Industries on 04-Jun-2026 16:59 is ₹24.46.

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 ASI Industries stood at ₹220.3 Cr

The latest P/E ratio of ASI Industries as of 03-Jun-2026 is 9.71.

The latest P/B ratio of ASI Industries as of 03-Jun-2026 is 0.77.

The 52-week high of ASI Industries is ₹37.20 and the 52-week low is ₹19.00.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of ASI Industries is ₹149 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that ASI Industries Ltd is a below average quality company.

The key valuation ratios of ASI Industries 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 Weak which suggest that the price of ASI Industries Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About ASI Industries Ltd

Associated Stone Industries (Kotah) (ASI) was started in 1945, when ASI started stone mining operations in British India. Today ASI holds quarries 10 square Kms at Ramganjmandi in Rajasthan and which are largest in the world with more than 5,000 workers working to produce the best product.

ASI has changed the process of stone mining combining with the latest technology with solid experience and innovation. It has developed a perfect diamond tool unit for cutting, sawing and shaping various natural stones matching global standards.

Chairman and Managing Director of the company Deepak Jatia took total control of the company in year 2000. He had been on Board of the directors from year 1987. Under his command, company’s personnel evolve themselves to upgrade skills and maintain technical viability to get the job done with expertise, motivation and creativity. Under his leadership the company evolved an innovative mining technology for Kotah Stone which is blessing to the entire industry.

ASI as Miner has immense reputation and National Recognition. ASI not simply adheres to normal rules of laws but also understands Ethics of Social Responsibilities. It gets honored for the policies it practices. Only able bodied adult human beings enter in ASI’s Mines and works. It is customary for ASI to run in this remote area Hospital, College and schools for now decades. Institutions keep opening more faculties and Hospital provides more facilities.

Products of company

ASI Group offers a wide range of stones that can be divided into following categories:

  • Kota Stone
  • Stone Cobbles
  • Sandstone
  • Slate Granite
  • Limestone Stone
  • Furniture Stone
  • Artifacts
  • Garden Accessories
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