On 6 Nov 2026, Ashapura Minechem was priced at ₹416.30, or 9.8× trailing earnings, against an industry P/E of 11.5×, and the shares are 55% below their 52-week high. It earns ROCE of 20% and ROE of 23%, and sales and net profit grew 42% and 51% a year over 3 years. Its dividend yield is 0.5%, and debt is 0.79× equity. It is a small-cap company with a market cap of ₹3,977 Cr, ranked 8th of 22 Other Industrial Metals & Mining companies by market cap; the shares fell 35% over the past year.
- ₹409.10
- ₹425.60
- ₹406.25
- ₹433.20
- 6.3 L
Health check
- ReturnsBehind
−34.9% over a year, better than 2 of 7 peers.
- Price tagCheaper
P/E 9.8 vs industry 11.5.
- GrowthStrong
Sales +42.4%, profit +50.8% a year over 3 years.
- ProfitabilityAverage
ROCE 20.1% vs peer median 27.9%.
- Balance sheetFair
Debt 0.79× equity, interest covered 4.8×, Piotroski 9 of 9.
- Red flags1 to check
55% below its 52-week high.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹3,977 Cr
- Small cap
- P/E
- 9.8
- Industry 11.5
- Price to book
- 2.21
- Peers 5.18
- Dividend yield
- 0.48%
- ROE
- 23.2%
- Peers 28.4%
- ROCE
- 20.1%
- Peers 27.9%
- Debt to equity
- 0.79
- Debt ₹1,425 Cr
- EPS (TTM)
- ₹42.59
- Face value ₹2
- OPM (TTM)
- 7.6%
- Net margin 6.4%
- Sales growth
- +19.2%
- Latest quarter vs a year ago
- Profit growth
- +5.0%
- Latest quarter vs a year ago
- Price to sales
- 0.71
- EV/EBITDA 7.8
Strengths and risks
Strengths
- Return on equity of 23.2%.
- Return on capital employed of 20.1%.
- Quarterly sales up 19.2% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- 55% below its 52-week high.
About Ashapura Minechem
Ashapura Minechem Limited is involved in the mining, manufacturing, and trading of various minerals and its derivative products in India and internationally. The company offers processed bentonite products for foundry, iron ore pelletising, civil engineering, pet litter, environmental containment, and animal feed applications; bentonite-based drilling fluids and specialty additives to the oil and gas exploration sector; bleaching earth used for the…
- Headquarters
- Mumbai
- Employees
- 1,574
- Sector
- Basic Materials
- ISIN
- INE348A01023
- Website
- ashapura.com
Price range
- Avg volume (3M)
- 3.7 L
- 1-year return
- minus 34.9%
- From 52-week high
- minus 55.0%
Peers · Other Industrial Metals & Mining
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| HINDZINCHindustan Zinc | 568.10 | minus 0.46% | 2,40,040 | 11.5 | 10.6 | 62.0% | 53.4% | 0.22 | 5.6% | plus 20.6% |
| VEDLVedanta | 261.75 | minus 0.78% | 1,02,208 | 9.2 | 4.0 | 21.3% | 28.7% | 1.34 | −19.2% | minus 48.1% |
| CMPDICentral Mine Planning & Design Institute | 177.28 | minus 3.82% | 12,653 | 18.8 | 14.4 | 34.6% | 34.2% | 0.00 | 18.7% | plus 15.1% |
| VOGLVedanta Oil and Gas | 30.74 | minus 2.26% | 12,001 | 18.0 | – | 4.1% | 7.3% | 0.15 | 161.8% | minus 14.8% |
| JAINRECJain Resource Recycling | 286.50 | plus 2.23% | 9,887 | 27.8 | 19.4 | 35.5% | 4.5% | 0.82 | 45.4% | minus 25.7% |
| IMFAIndian Metals & Ferro Alloys | 1,106.50 | minus 2.22% | 5,970 | 10.4 | 10.2 | 18.5% | 23.8% | 0.35 | 1.9% | minus 8.0% |
| MOILMOIL | 215.71 | minus 1.41% | 4,389 | 14.9 | 8.7 | – | 20.0% | – | 3.2% | minus 39.9% |
| ASHAPURMINAshapura Minechem | 416.30 | minus 3.90% | 3,977 | 9.8 | 9.1 | 20.1% | 7.6% | 0.88 | 42.4% | minus 34.9% |
| Median of 7 peers | – | −1.41% | 12,001 | 14.9 | 10.4 | 27.9% | 23.8% | 0.29 | 5.6% | −14.8% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 1,356 | 953 | 960 | 1,969 | 1,616 | |
| 1,205 | 854 | 880 | 1,876 | 1,472 | |
| 150 | 98.5 | 80.7 | 92.6 | 145 | |
| 11.1% | 10.3% | 8.4% | 4.7% | 8.9% | |
| 12.5 | 11.9 | 32.6 | 88 | 14.3 | |
| 30.9 | 29.2 | 24 | 33.8 | 28.9 | |
| – | – | −4.6 | – | – | |
| 132 | 81.2 | 84.8 | 147 | 130 | |
| 13.6% | −30.5% | 10.4% | 17.8% | 16.7% | |
| 110 | 96.6 | 84.2 | 111 | 115 | |
| 11.50 | 10.11 | 8.82 | 11.59 | 12.07 |
Profit & loss
- Sales CAGR 3Y
- +42.4%
- Profit CAGR 3Y
- +50.8%
- EPS CAGR 3Y
- +48.6%
- ROE
- 23.2%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,797 | 2,620 | 2,720 | 5,187 | |
| – | +45.8% | +3.8% | +90.7% | |
| 1,618 | 2,368 | 2,343 | 4,627 | |
| 178 | 252 | 377 | 560 | |
| 9.9% | 9.6% | 13.9% | 10.8% | |
| 95.4 | 104 | 91.9 | 139 | |
| 59.5 | 69 | 88.3 | 117 | |
| 72.6 | 78.6 | 78 | 133 | |
| −2.1 | 100 | 1.6 | −4.5 | |
| 139 | 309 | 304 | 445 | |
| 21.3% | 8.7% | 5.1% | 6.3% | |
| 117 | 287 | 296 | 401 | |
| – | +145.3% | +3.1% | +35.7% | |
| 12.79 | 30.50 | 31.46 | 42.02 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 18.3 | 18.3 | 19.1 | 19.1 | |
| 646 | 912 | 1,223 | 1,630 | |
| 758 | 984 | 1,163 | 1,444 | |
| 1,609 | 1,397 | 1,444 | 1,605 | |
| 3,032 | 3,311 | 3,849 | 4,698 | |
| 805 | 1,031 | 1,424 | 1,614 | |
| 262 | 504 | 125 | 165 | |
| 0 | 0 | 0.2 | 0.2 | |
| 69.7 | 135 | 110 | 317 | |
| 1,895 | 1,640 | 2,191 | 2,603 | |
| 3,032 | 3,311 | 3,849 | 4,698 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 93.7 | 148 | 189 | 463 | |
| −130 | −274 | −392 | −271 | |
| 79.6 | 191 | 178 | 14.2 | |
| 43.6 | 64.6 | −25.3 | 206 | |
| −134 | −332 | −401 | −279 | |
| −40.2 | −184 | −211 | 184 | |
| −5.8 | −0 | −0 | −9.4 |
Shareholding pattern
NSE hasn’t returned a shareholding pattern for this company. Institutions hold about 17.0% (Yahoo estimate).
Major shareholders
Filings & events
News
No recent news coverage found.