Ashapura Minechem Ltd

₹ 355 1.55%

22 Jul 4:01 p.m.

ashapura.com BSE: 527001 NSE: ASHAPURMIN

About

Incorporated on 19th February 1982, Ashapura Minechem Ltd. is engaged in the mining, manufacturing and trading of various minerals and its derivative products. The company offers multi-mineral solutions across several industries from soaps to steel, energy to edible oils, metal to medicine and cement to ceramics. The company has its network of operations pan-India and in 7 other countries.^[1]^[2]

Key Points

Product Portfolio:^[1]
The Company is principally involved in mining, mineral processing, and logistics. Nearly all of the company’s products are natural ores or additives that form a part of the end-product, viz.^[2]
a. Industrial Functional Minerals:
b. Advanced Refractory Materials
c. Hydrocarbon Exploration Solutions
d. Adsorbent Solutions
e. White Performance Minerals
f. Super Specialty Refined Mineral Products
g. Building Materials and Chemicals

Website BSE NSE

Market Cap ₹ 3,248 Cr.
Current Price ₹ 355
High / Low ₹ 483 / 154
Stock P/E 35.4
Book Value ₹ 20.8
Dividend Yield 0.00 %
ROCE 55.3 %
ROE 81.8 %
Face Value ₹ 2.00

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Pros

Company has reduced debt.
Company is expected to give good quarter
Company has delivered good profit growth of 30.7% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 38.3%

Cons

Stock is trading at 17.2 times its book value
The company has delivered a poor sales growth of -0.26% over past five years.
Promoters have pledged 30.7% of their holding.
Earnings include an other income of Rs.87.9 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Mining & Mineral products Industry: Mining / Minerals / Metals

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	180	289	144	51	115	68	47	60	47	91	67	97	79
	145	264	150	68	109	72	55	63	41	52	58	68	68
Operating Profit	34	25	-6	-17	6	-4	-7	-3	6	39	8	30	10
OPM %	19%	8%	-4%	-33%	5%	-5%	-16%	-5%	12%	43%	13%	30%	13%
	13	2	20	2	3	6	11	14	10	4	15	11	58
Interest	8	8	8	8	7	7	6	5	5	4	3	3	3
Depreciation	5	5	5	5	5	5	5	3	3	3	3	3	3
Profit before tax	35	14	1	-28	-3	-9	-7	2	9	36	18	35	63
Tax %	30%	0%	0%	0%	0%	0%	0%	0%	14%	-18%	-7%	-6%	-9%
	24	14	1	-28	-3	-9	-7	2	8	42	19	37	68
EPS in Rs	2.81	1.55	0.12	-3.01	-0.30	-1.01	-0.81	0.22	0.83	4.62	2.07	4.03	7.47
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	478	664	749	592	236	239	337	206	421	598	223	333
	396	551	626	520	272	268	630	242	341	590	228	246
Operating Profit	83	112	124	73	-37	-29	-292	-37	80	8	-6	88
OPM %	17%	17%	17%	12%	-16%	-12%	-87%	-18%	19%	1%	-2%	26%
	7	59	-222	22	12	-5	250	465	41	26	38	88
Interest	46	19	10	9	10	11	10	14	35	30	23	14
Depreciation	11	11	16	20	24	24	23	21	20	20	15	10
Profit before tax	32	141	-124	65	-59	-69	-74	393	66	-16	-6	151
Tax %	0%	0%	0%	0%	0%	0%	0%	0%	16%	0%	20%	-10%
	32	141	-124	65	-59	-69	-74	393	56	-16	-7	166
EPS in Rs	3.90	16.24	-14.25	7.44	-6.78	-7.90	-8.54	45.22	6.40	-1.71	-0.77	18.19
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	8%	-29%	0%	0%

Compounded Sales Growth
10 Years:	-7%
5 Years:	0%
3 Years:	-8%
TTM:	50%

Compounded Profit Growth
10 Years:	0%
5 Years:	31%
3 Years:	36%
TTM:	1976%

Stock Price CAGR
10 Years:	17%
5 Years:	75%
3 Years:	36%
1 Year:	131%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	38%
Last Year:	82%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	17	17	17	17	17	17	17	17	17	18	18	18
Reserves	-317	-162	-288	-223	-276	-344	-419	-24	31	18	7	172
	310	151	92	78	67	58	45	93	86	68	59	45
	676	700	888	920	891	904	951	501	549	541	503	327
Total Liabilities	686	707	710	792	699	636	595	587	682	646	587	561
	149	148	142	189	234	218	197	181	164	148	126	114
CWIP	5	11	9	49	2	5	7	3	1	3	2	6
Investments	39	39	39	39	44	44	31	44	44	40	40	40
	493	509	520	515	418	369	360	358	474	456	419	402
Total Assets	686	707	710	792	699	636	595	587	682	646	587	561

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	114	52	146	16	-46	17	-1	40	41	42	-13
	5	-20	-102	-14	-5	15	-15	4	-2	1	33
	-113	-29	-48	-8	50	-20	15	-51	-41	-27	-27
Net Cash Flow	6	3	-3	-6	-0	12	-1	-7	-2	15	-7

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	111	109	97	114	214	109	77	196	185	94	194	143
Inventory Days	689	445	287	282	259	403	309	391	255	135	498	296
Days Payable	251	231	137	219	149	126	157	183	253	125	244	197
Cash Conversion Cycle	549	323	247	177	324	387	229	404	187	104	448	242
Working Capital Days	-295	-198	-241	-329	-910	-677	-707	178	124	44	252	189
ROCE %		1,350%							74%	12%	20%	55%

Shareholding Pattern

Numbers in percentages

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
	44.58%	44.58%	44.58%	44.74%	44.79%	45.22%	45.33%	45.33%	45.33%	45.33%	45.39%	45.39%
	21.07%	21.12%	20.60%	19.12%	16.32%	16.35%	16.99%	17.09%	18.03%	17.56%	17.24%	16.45%
	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.19%	0.18%	0.48%	0.45%
	34.21%	34.17%	34.68%	36.00%	38.75%	38.29%	37.53%	37.43%	36.44%	36.92%	36.89%	37.71%
No. of Shareholders	23,241	24,002	23,667	26,228	28,424	28,033	26,214	25,557	27,466	31,091	30,415	29,928

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Jun 2024
	48.43%	39.78%	39.78%	39.78%	41.42%	44.58%	45.33%	45.39%	45.39%
	23.26%	23.92%	23.98%	23.77%	22.93%	20.60%	16.99%	17.24%	16.45%
	0.25%	0.76%	0.16%	0.16%	0.15%	0.14%	0.14%	0.48%	0.45%
	28.06%	35.53%	36.07%	36.29%	35.49%	34.68%	37.53%	36.89%	37.71%
No. of Shareholders	19,086	24,342	24,159	21,654	22,375	23,667	26,214	30,415	29,928

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Ashapura Minechem Ltd

Ashapura Minechem Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

Annual reports