MarketFriction

Ashapura Minechem Ltd

NSE ASHAPURMIN · BSE 527001 · Industrial Minerals
₹489.95 -2.82%
NSE close2026-10-01
52 week range455.10 - 924.90
Market cap₹4,956 Cr.
P/E12.1
Microcap 250 Price band 20% Delivery 49.6%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales5547134407146048655551,3569529601,9691,616
Expenses5246553926275407314711,1748228461,8411,435
Operating Profit305848876413584182131114128181
OPM %6%8%11%12%11%16%15%13%14%12%6%11%
Other Income32395941020561212288814
Interest122216171923303129243429
Depreciation192021172012293232343537
Profit before tax3154705736119821328185147130
Tax %12%15%13%8%-20%10%7%14%-30%10%18%17%
Net Profit58546760431087911410676121108
EPS in Rs6.496.167.496.514.6411.049.0511.5010.118.8211.5912.07
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,7758337946223341,1481,2781,8312,6542,7395,2375,498
Expenses1,5357947906263801,0261,1761,6532,4012,3624,6824,943
Operating Profit240394-4-45122102178252377555554
OPM %14%4.7%0.6%-0.7%-14%11%8%10%10%14%11%10%
Other Income242520-26548793112102211101140142
Interest22171920316058687696118116
Depreciation44483933284558737978133138
Profit before tax198-1-33-32238211098139309304445443
Tax %23%1,502%36%2%-0%21%12%21%9%5%6%
Net Profit162-19-45-3273838787110282289416411
EPS in Rs18.66-2.17-5.19-38.0544.5710.069.4612.7931.3730.9742.0242.59
Dividend Payout %0%0%0%0%0%5%5%0%0%3%5%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth11%35%42%63%
Compounded Profit Growth10%43%51%19%
Stock Price CAGR24%33%21%-23%
Return on Equity%25%27%28%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital171717171717171818181919
Reserves-1622-20-65-3783294175036469121,2231,630
Borrowings1882041441852094416646397589841,1631,444
Other Liabilities1,0921,2071,1631,1481,2031,0331,1351,2641,6271,3971,5261,605
Total Liabilities1,1361,4301,3051,2861,0511,8202,2332,4243,0503,3113,9314,698
Fixed Assets3333453363082545445275395845771,3491,499
CWIP291105219542042542625045551
Investments63146243267180274290268288321344371
Other Assets7118287216896089471,2121,3631,9151,9092,1812,778
Total Assets1,1361,4301,3051,2861,0511,8202,2332,4243,0503,3113,9314,698
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity18623172-18-21716-2011497148188463
Cash from Investing Activity-98-208-30-20160-156-168-63-130-274-392-271
Cash from Financing Activity-70-14-433668131182-608019117814
Net Cash Flow189-1-211-9-5-94765-25206
Free Cash Flow839336-45-221-3-196-2-36-125-208184
CFO/OP78%108%282%-97%4,688%-39%-5%127%65%76%61%88%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days56611039561202928998377370
Inventory Days287269329285226532364453420390506153
Days Payable267258265187168328461387360415477245
Cash Conversion Cycle7672166193120406-515415812103-22
Working Capital Days-125-118-266-214-405-32353565213625
ROCE %211%153%10%0%-42%-14%16%12%16%17%19%21%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters45.33%45.33%45.39%45.39%47.70%47.70%47.76%47.76%47.79%47.88%48.03%48.04%
FIIs18.03%17.56%17.24%16.45%15.72%16.00%16.56%16.42%18.02%19.25%19.50%19.22%
DIIs0.19%0.18%0.48%0.45%0.13%0.14%0.38%0.26%0.35%0.38%0.33%0.40%
Public36.44%36.92%36.89%37.71%36.44%36.14%35.31%35.57%33.83%32.49%32.13%32.34%
No. of Shareholders27,46631,09130,41529,92833,97430,70532,28933,26736,09639,75743,25547,193

Fundamentals

Market Cap₹ 4,956 Cr.
Current Price₹ 519
Stock P/E12.1
Book Value₹ 173
ROCE20.7 %
ROE28.0 %
Dividend Yield0.39 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)63%
Compounded Profit Growth (TTM)19%
Consolidated figures.
Valuation
Market capRs 4,680 Cr
Enterprise valueRs 5,795 Cr
P/E (TTM)11.50x
Price to book2.84x
Price to sales0.85x
EV / EBITDA8.32x
EV / EBIT10.37x
EV / sales1.05x
Price to cash flow10.11x
Earnings yield8.69%
Dividend yield0.41%
P/E, 3-year average11.79x
P/B, 3-year average3.23x
P/E, 5-year average11.46x
P/B, 5-year average2.56x
Profitability
Operating margin (excl. other income)10.59%
Operating margin (incl. other income)13.27%
EBITDA margin12.67%
Pre-tax margin8.05%
Net profit margin7.40%
Net margin, latest quarter7.14%
ROE27.77%
ROCE20.46%
ROA9.30%
ROE, 3-year average30.33%
ROCE, 3-year average20.69%
ROA, 3-year average8.83%
ROE, 5-year average25.77%
ROCE, 5-year average18.38%
ROA, 5-year average6.90%
ROIC (approx.)18.94%
Tax rate6.32%
Other income / net worth8.51%
Growth
Sales growth (latest year)91.21%
Profit growth (latest year)35.70%
Sales CAGR, 3 years41.95%
Sales CAGR, 5 years35.46%
Profit CAGR, 3 years50.82%
Profit CAGR, 5 years35.62%
Sales growth QoQ-17.91%
Profit growth QoQ4.16%
Sales growth YoY (latest quarter)19.22%
Profit growth YoY (latest quarter)4.99%
Per share
EPS (TTM)Rs 42.59
EPS (latest quarter)Rs 12.07
EPS, 3-year averageRs 31.17
EPS, 5-year averageRs 21.15
Book value per shareRs 172.65
Sales per shareRs 575.52
Cash flow per shareRs 48.45
Free cash flow per shareRs 19.26
Dividend per share, 3-year averageRs 1.00
Dividend per share, 5-year averageRs 0.75
Dividends
Dividend payout4.76%
Dividend payout, 3-year average4.00%
Dividend payout, 5-year average4.43%
Efficiency
Asset turnover1.11x
Fixed asset turnover3.49x
Inventory turnover2.38x
Inventory days153 days
Debtor days70 days
Debtors turnover5.23x
Creditor days245 days
Cash conversion cycle-22 days
Working capital days25 days
Leverage
Total debtRs 1,444 Cr
Cash and bankRs 329 Cr
Net debtRs 1,114 Cr
Debt to equity0.88x
Net debt / EBITDA1.60x
Interest coverage4.82x
Current ratio (filing 2026-03-31)1.36x
Quick ratio (filing 2026-03-31)1.05x
Trade payables (filing 2026-03-31)Rs 934 Cr
Owners' fund to total sources35.11%
Debt to assets30.73%
Cash flow
Cash from Operating Activity (latest year)Rs 463 Cr
Cash from Investing Activity (latest year)Rs -271 Cr
Cash from Financing Activity (latest year)Rs 14 Cr
Net Cash Flow (latest year)Rs 206 Cr
Free cash flow (latest year)Rs 184 Cr
FCFE (approx.: FCF + change in debt)Rs 465 Cr
Cash from ops / profit, 5 years0.85x
Sales to cash flow11.31x
Statement figures
Net sales (TTM)Rs 5,498 Cr
Net sales (latest year)Rs 5,237 Cr
Sales (latest quarter)Rs 1,616 Cr
Operating profit excl. other income (latest year)Rs 555 Cr
Operating profit (latest quarter)Rs 181 Cr
Other income (TTM)Rs 142 Cr
EBITDA (TTM)Rs 697 Cr
PBDT (TTM)Rs 581 Cr
Profit before tax (TTM)Rs 443 Cr
Tax (latest year)Rs 28 Cr
Net profit (TTM)Rs 407 Cr
Net profit (latest year)Rs 401 Cr
Net profit (latest quarter)Rs 115 Cr
Depreciation (TTM)Rs 138 Cr
Depreciation (latest quarter)Rs 37 Cr
Interest (TTM)Rs 116 Cr
Cost of goods sold (latest year)Rs 1,392 Cr
Total expenditure (latest year)Rs 4,682 Cr
Total income (latest year)Rs 5,377 Cr
Share capitalRs 19 Cr
ReservesRs 1,630 Cr
Shareholders' fundsRs 1,649 Cr
Total assetsRs 4,698 Cr
Net blockRs 1,499 Cr
Capital work in progressRs 51 Cr
InvestmentsRs 371 Cr
ReceivablesRs 1,001 Cr
InventoryRs 585 Cr
Other liabilitiesRs 1,605 Cr
Shares outstanding (crore)9.55
Ownership
Promoter holding48.04% (+0.28 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 11.5 is at the 35th percentile of its own 6.4-year range (median 12.3, low 0.9, high 34.4).
P/B 2.84 is at the 39th percentile (median 3.23).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodASHAPURMINNifty 50Difference
1 week-4.1%-2.8% -1.3 pts
1 month-11.8%-6.8% -5.0 pts
3 months-24.1%-7.6% -16.5 pts
6 months+6.6%+0.4% +6.2 pts
1 year-24.6%-9.9% -14.7 pts
2 years+59.6%-13.6% +73.1 pts
3 years+68.7%+14.2% +54.5 pts
5 years+290.9%+27.9% +263.0 pts
5 mutual fund schemes hold about ₹7 Cr. Over three months 4 bought more and 0 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Motilal Oswal Nifty Microcap 250 Index Fund0.29%7 +5%
Groww Nifty Total Market Index Fund0.01%0 +7%
Angel One Nifty Total Market Index Fund0.01%0 +7%
Mirae Asset Nifty Total Market Index Fund0.01%0 +7%
Bandhan Nifty Total Market Index Fund0.01%0 +7%

Red flags

F-score 6 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2026-09-16Eriska Investment Fund LtdAcquirerbuy1,993,000SAST Others
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹1,616 Cr +19.2% vs Jun 2025. Net profit ₹108 Cr -5.3%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-22Dividend - Rs 2 Per Share
2025-09-17Dividend - Re 1 Per Share
2024-09-23Annual General Meeting
2023-09-22Annual General Meeting
2022-09-21Annual General Meeting/Dividend - Rs 0.50 Per Share
2021-09-21 Div - Rs 0.50 Per Sh
2021-09-21 Annual General Meeting
2020-12-22 Annual General Meeting
2019-12-19 Annual General Meeting
2018-09-19 Annual General Meeting
2017-09-11 Annual General Meeting
2016-09-19 Annual General Meeting
2015-09-15 Annual General Meeting
2014-09-11Annual General Meeting
2013-09-12Annual General Meeting
2012-09-14Annual General Meeting
2011-09-16Annual General Meeting
2010-09-15Annual Book Closure
2009-09-15Annual General Meeting
2008-09-15Agm/Dividend - 80%
2007-10-18Bonus 1:10.5000
2007-09-07Agm/Div-Rs.3/- Per Sh
2006-08-01Agm/Div-Rs.1.50/- Per Sh
2006-03-23Inferred from price: close fell to 0.205x overnight, no NSE action on record0.2000
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2019-09-30NCLATArmada Singapore Pte. Ltd. VS Ashapura Minechem Ltd.
2019-09-30NCLATJ.P. Morgan Chase Bank N.A VS Ashapura Minechem Ltd.
2019-09-30NCLATHDFC Bank Ltd. VS Ashapura Minechem Ltd.
2019-09-23NCLATArmada Singapore Pte. Ltd. VS Ashapura Minechem Ltd.
2019-09-23NCLATJ.P. Morgan Chase Bank N.A VS Ashapura Minechem Ltd.
2019-09-23NCLATHDFC Bank Ltd. VS Ashapura Minechem Ltd.
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Ashapura Minechem Ltd?

Ashapura Minechem Ltd (ASHAPURMIN) has a market capitalisation of Rs 4,956 Cr. at the 2026-10-01 close.

What is the P/E ratio of Ashapura Minechem Ltd?

Ashapura Minechem Ltd trades at a P/E of 12.1 on trailing twelve-month profit, at the 2026-10-01 close.

What were Ashapura Minechem Ltd's latest quarterly results?

In the Jun 2026 quarter, Ashapura Minechem Ltd sales was Rs 1,616 Cr (+19.2% vs Jun 2025) and net profit was Rs 108 Cr.

What is the 52-week high and low of Ashapura Minechem Ltd?

The 52-week high is Rs 924.90 and the 52-week low is Rs 455.10.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03