Ashapura Minechem Limited

NSE: ASHAPURMIN · Metals & Mining

₹416.30-3.90%06 Nov 2026

Ask the data

Instant answers about Ashapura Minechem Limited — computed from its filings, no language model

Market cap₹3,978 cr

Current price₹416.30

High / Low₹902 / ₹409

P/E14.3

P/B2.21

Book value₹188.5

ROE15.4%

ROCE16.6%

Debt / equity0.79

Dividend yield0.24%

EPS (TTM)₹29.06

Face value₹2

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

showing latest 6 of 9 periods

	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	794	621	334	1,148	1,278	1,831	2,654	2,739	5,237
EBITDA	3	-13	-57	115	99	173	246	370	555
Operating margin	0.4%	-2.1%	-17.1%	10.0%	7.8%	9.4%	9.3%	13.5%	10.6%
Interest	18	19	31	53	55	64	70	89	118
Depreciation	39	33	28	45	58	73	79	78	133
Profit before tax	-61	-334	373	98	81	122	258	278	418
Tax	12	5	-1	23	11	30	27	15	28
Net profit	-45	-329	388	87	87	117	287	296	401
EPS ₹	-5.19	-38.05	44.57	10.06	9.65	12.79	31.37	31.46	42.02
Operating cash flow	—	—	—	—	92	97	148	188	463
Capex	—	—	—	—	148	134	332	401	279
Dividend paid	—	—	—	—	4	6	0	0	9
Total assets	—	—	—	—	—	3,050	3,311	3,931	4,698
Equity	—	—	—	—	—	665	930	1,242	1,649

Quarterly performance

last 34 quarters · ₹ crore

showing latest 8 of 34 periods

	MAR '18	SEP '18	DEC '18	MAR '19	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
Revenue	224	169	88	160	115	68	49	103	286	192	350	320	452	270	225	331	402	198	535	696	1,018	554	713	440	714	604	865	555	1,356	952	960	1,969	1,616	1,063
Operating profit	-10	-14	17	10	4	-29	-17	-15	27	3	37	47	71	29	-28	28	51	5	58	59	110	30	58	48	87	64	135	84	182	131	114	128	181	125
Operating margin	-4.5%	-8.5%	19.6%	6.0%	3.8%	-43.4%	-34.5%	-15.0%	9.5%	1.5%	10.7%	14.8%	15.6%	10.6%	-12.4%	8.5%	12.7%	2.4%	10.8%	8.5%	10.8%	5.5%	8.1%	11.0%	12.2%	10.6%	15.5%	15.2%	13.4%	13.7%	11.9%	6.5%	11.2%	11.8%
Other income	-1	9	0	4	4	3	3	6	7	5	10	38	20	28	34	13	16	28	20	22	32	22	6	2	4	1	14	56	6	1	29	83	8	13
Interest	6	4	3	6	4	5	11	10	11	18	8	16	18	14	8	15	13	12	20	19	20	12	22	16	17	19	23	30	31	29	24	34	29	31
Depreciation	10	9	8	7	7	7	7	8	8	9	9	18	14	15	14	14	17	19	18	19	18	19	20	21	17	20	12	29	32	32	34	35	37	34
Profit before tax	-38	-284	-18	0	-3	-38	50	365	35	-19	29	51	58	27	-16	12	38	1	40	42	103	31	54	70	57	27	113	82	125	71	81	141	123	73
Tax	2	3	1	-3	-0	1	-2	0	3	-2	3	19	4	1	6	1	7	0	11	12	6	4	8	9	5	-7	12	6	18	-25	9	26	22	8
Net profit	-34	-285	-18	5	1	-34	54	368	36	-12	29	34	60	34	-20	12	39	5	33	40	103	59	56	69	60	44	105	86	110	97	0	111	115	52
EPS ₹	-3.94	-32.46	-2.06	0.15	0.08	-4.07	6.27	42.29	4.18	-1.37	3.36	3.89	6.94	3.79	-2.39	1.30	3.84	0.56	3.58	4.37	11.24	6.49	6.16	7.49	6.51	4.71	11.15	9.08	11.50	10.11	8.82	11.59	12.07	5.41
Revenue YoY	—	—	—	-28.7%	—	-59.8%	-44.6%	-35.5%	149.6%	183.3%	619.0%	210.3%	57.7%	40.5%	-35.8%	3.6%	-11.1%	-26.8%	138.2%	110.2%	153.3%	180.2%	33.3%	-36.8%	-29.8%	9.0%	21.4%	26.2%	89.8%	57.7%	11.0%	254.6%	19.2%	11.6%
Profit YoY	—	—	—	—	—	—	—	7897.2%	3149.1%	—	-46.3%	-90.8%	65.9%	—	-168.8%	-63.5%	-35.1%	-85.0%	—	224.1%	162.2%	1067.9%	72.0%	71.5%	-42.1%	-25.3%	87.1%	26.2%	84.4%	117.9%	-100.0%	28.0%	5.0%	-46.5%

Earlier results (standalone, Sep '07 – Dec '17)

₹ crore · from BSE, before the NSE XBRL filings begin

Ashapura Minechem Limited reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

showing latest 8 of 9 periods

	FY09†	FY10†	FY11†	FY12†	FY13†	FY14†	FY15†	FY16†	FY17†
Revenue	696	503	452	428	478	664	749	592	235
Operating profit	-373	2	49	57	81	112	124	73	-38
Operating margin	-53.6%	0.3%	10.9%	13.4%	17.0%	16.9%	16.5%	12.3%	-16.1%
Other income	9	3	5	11	10	8	9	6	13
Interest	16	52	36	40	43	19	10	9	9
Depreciation	7	10	11	11	11	11	16	20	24
Profit before tax	-387	-58	-505	7	32	141	-124	65	-59
Tax	-131	-68	96	0	0	0	0	0	0
Net profit	-255	10	-600	7	32	141	-124	65	-59

Quarters

showing latest 8 of 42 periods

	SEP '07†	DEC '07†	MAR '08†	JUN '08†	SEP '08†	DEC '08†	MAR '09†	JUN '09†	SEP '09†	DEC '09†	MAR '10†	JUN '10†	SEP '10†	DEC '10†	MAR '11†	JUN '11†	SEP '11†	DEC '11†	MAR '12†	JUN '12†	SEP '12†	DEC '12†	MAR '13†	JUN '13†	SEP '13†	DEC '13†	MAR '14†	JUN '14†	SEP '14†	DEC '14†	MAR '15†	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†
Revenue	388	356	406	298	129	206	63	107	145	123	127	124	42	141	145	131	108	84	105	86	65	147	180	233	199	104	127	286	157	166	140	213	82	184	114	79	58	45	53	62	49	58
Operating profit	54	44	37	29	-19	-77	-306	17	-4	-3	-8	13	-6	24	18	17	12	7	21	16	10	21	34	36	36	20	21	58	19	28	19	33	8	24	7	-3	-5	-15	-14	-10	-6	-8
Operating margin	14.0%	12.3%	9.1%	9.8%	-14.9%	-37.3%	-485.0%	15.4%	-2.9%	-2.5%	-6.1%	10.8%	-14.4%	17.2%	12.2%	13.0%	11.5%	8.4%	19.8%	19.0%	14.6%	14.5%	18.9%	15.2%	18.2%	19.1%	16.2%	20.4%	11.9%	16.7%	13.4%	15.7%	10.3%	12.8%	6.3%	-4.1%	-9.2%	-32.9%	-27.1%	-15.4%	-11.6%	-13.5%
Other income	2	4	2	2	2	5	1	1	0	0	1	0	2	1	2	1	1	2	7	4	2	2	2	2	2	2	3	2	3	2	2	2	3	2	1	3	3	5	2	4	4	1
Interest	3	3	2	2	2	5	8	13	11	13	16	10	7	10	9	11	9	9	11	10	10	10	12	8	6	3	2	3	3	2	2	1	3	3	3	2	2	2	2	2	2	2
Depreciation	1	1	2	1	2	2	2	2	4	4	0	3	3	3	3	2	3	3	3	3	3	3	4	3	3	3	3	4	4	4	3	4	5	5	6	5	7	6	6	6	6	6
Profit before tax	52	44	36	28	-21	-79	-315	3	-19	-19	-22	1	-14	13	-504	4	2	-3	4	5	0	-15	42	52	43	19	27	52	15	-188	-3	50	3	17	-5	-8	-12	-18	-20	-14	-10	-19
Tax	14	7	8	5	-2	-1	-133	0	-0	0	-68	0	2	0	93	0	0	0	-0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net profit	39	37	27	24	-19	-78	-182	2	-18	-19	45	1	-17	13	-598	4	2	-3	4	5	0	-15	42	52	43	19	27	52	15	-188	-3	50	3	17	-5	-8	-12	-18	-20	-14	-10	-19
EPS ₹	9.91	4.71	3.46	2.99	-2.39	-9.86	-23.08	0.30	-2.34	-2.46	5.74	0.14	-2.10	1.62	-75.66	0.48	0.22	-0.41	0.54	0.61	0.06	-1.80	5.26	6.27	5.15	2.34	3.26	5.96	1.74	-21.59	-0.37	5.71	0.31	1.98	-0.57	-0.95	-1.38	-2.13	-2.31	-1.63	-1.17	-2.15
Revenue YoY	—	—	—	—	-66.7%	-42.0%	-84.4%	-64.0%	12.6%	-40.3%	101.7%	16.1%	-71.3%	14.3%	13.9%	5.2%	159.6%	-40.5%	-27.8%	-34.0%	-39.6%	75.4%	71.5%	170.3%	204.5%	-29.0%	-29.5%	22.6%	-20.9%	58.8%	10.3%	-25.7%	-48.1%	10.9%	-18.4%	-62.9%	-29.3%	-75.5%	-53.7%	-20.9%	-14.8%	28.3%
Profit YoY	—	—	—	—	-148.6%	-310.9%	-770.5%	-90.1%	—	—	—	-54.1%	—	—	-1418.7%	254.2%	—	-125.2%	—	26.1%	-74.1%	—	882.1%	989.3%	9391.1%	—	-35.7%	-0.4%	-64.6%	-1067.4%	-111.8%	-4.2%	-82.2%	—	—	-116.7%	-545.9%	-207.5%	—	—	—	—

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 30 periods

	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
ROE	—	—	—	—	—	—	—	—	—	—	—	—	—	6.3%	15.5%	17.6%	27.2%	28.9%	31.8%	30.9%	26.2%	21.6%	26.2%	23.8%	27.9%	28.1%	20.6%	19.2%	19.6%	15.4%
ROCE	—	—	—	—	—	—	—	—	—	—	—	—	—	6.8%	12.3%	13.1%	18.1%	18.0%	19.0%	17.1%	14.6%	12.7%	15.4%	15.3%	18.7%	19.0%	17.8%	17.3%	17.2%	16.6%
Net margin	-56.0%	-10.8%	6.6%	116.4%	83.9%	70.9%	45.3%	7.6%	8.5%	11.3%	8.5%	6.8%	5.3%	3.2%	6.1%	6.4%	7.4%	8.4%	8.7%	10.5%	10.1%	9.3%	10.6%	10.8%	10.2%	10.7%	7.7%	6.1%	5.9%	5.0%
EBITDA margin	3.2%	0.4%	-8.3%	-17.1%	-6.8%	-0.3%	5.6%	10.0%	12.1%	13.2%	9.4%	7.8%	6.5%	4.8%	9.7%	9.4%	9.4%	9.2%	8.6%	9.0%	9.2%	10.4%	12.7%	13.5%	13.8%	14.3%	13.4%	10.6%	10.1%	9.8%
Debt / equity	—	—	—	—	—	—	—	—	—	—	—	—	—	1.13	1.13	1.14	1.14	0.96	0.96	1.06	1.06	1.10	1.10	0.94	0.94	0.86	0.86	0.88	0.88	0.79
Interest coverage	-16.37	-2.11	1.32	13.06	11.99	9.67	9.77	2.85	3.00	3.92	3.13	2.47	2.22	1.73	2.52	2.89	3.63	4.07	4.16	4.70	4.16	3.80	4.54	4.13	4.37	4.46	4.15	4.55	4.59	4.54
Asset turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	0.45	0.57	0.60	0.80	0.91	0.97	0.82	0.73	0.65	0.69	0.70	0.86	0.90	0.92	1.11	1.17	1.17

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 9 periods

	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	MAR '25	SEP '25	MAR '26	SEP '26
Share capital	18	18	18	18	19	19	19	19	19
Other equity / reserves	558	646	795	912	1,041	1,223	1,401	1,630	1,782
Total equity	576	665	813	930	1,060	1,242	1,420	1,649	1,801
Borrowings	653	756	784	984	1,165	1,163	1,228	1,444	1,425
Current liabilities	1,077	1,431	1,253	1,543	1,893	1,708	1,697	1,902	1,844
Non-current liabilities	901	961	1,010	851	871	1,000	1,035	1,151	1,126
Total assets	2,552	3,050	3,066	3,311	3,811	3,931	4,152	4,698	4,778
Property, plant & equipment	462	461	453	438	475	1,182	1,176	1,332	1,328
Capital work-in-progress	256	262	310	504	604	55	72	51	83
Investments	277	288	310	321	350	344	363	371	379
Inventories	471	532	470	520	435	654	508	585	790
Receivables	202	490	419	269	530	547	546	1,001	619
Cash & equivalents	37	74	122	135	133	109	298	316	378

Cash flow

annual · ₹ crore · line = free cash flow

	FY22	FY23	FY24	FY25	FY26
Cash from operations	92	97	148	188	463
Cash from investing	-59	-130	-274	-392	-271
Cash from financing	-42	80	191	178	14
Capex	148	134	332	401	279
Free cash flow	-56	-37	-184	-212	184
Dividends paid	4	6	0	0	9

Where the assets sit

Sep '26 · ₹ crore

Fixed assets (PPE)

₹1,328 cr28%

CWIP

₹83 cr2%

Investments

₹379 cr8%

Inventories

₹790 cr17%

Receivables

₹619 cr13%

Cash & equivalents

₹378 cr8%

Other assets

₹1,201 cr25%

Peer comparison

largest in Metals & Mining · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Adani Enterprises Ltd.	3,71,671	2,745.80	64.8	3.79	5.9%
JSW Steel Ltd.	3,31,132	1,357.10	11.6	2.92	25.1%
Hindustan Zinc Ltd.	2,40,022	568.10	—	8.01	0.0%
Tata Steel Ltd.	2,32,398	186.30	21.1	2.27	10.8%
Hindalco Industries Ltd.	2,12,765	958.40	11.1	1.33	12.0%
Vedanta Aluminium Metal Ltd.	1,47,058	376.05	—	6.38	—
Jindal Steel Ltd.	1,18,597	1,165.00	41.5	2.26	5.5%
Vedanta Ltd.	1,02,344	261.75	4.8	8.02	168.7%
Lloyds Metals And Energy Ltd.	1,00,524	1,785.50	19.2	6.20	32.3%
Steel Authority of India Ltd.	70,880	171.60	12.6	1.13	9.0%
Ashapura Minechem Limited	3,978	416.30	14.3	2.21	15.4%

StoxGud checklist: Neutral setup · 4/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month-14.7%

6 months-37.3%

1 year-37.0%

3Y CAGR+11.6%

5Y CAGR+31.1%

10Y CAGR+20.0%

50-day avg₹494.42

200-day avg₹596.32

RSI (14)31

FAQs

What is the share price of Ashapura Minechem Limited?

Ashapura Minechem Limited (ASHAPURMIN) closed at ₹416.30 on NSE on 06 Nov 2026.

What is the market cap of Ashapura Minechem Limited?

₹3,978 crore at the latest close.

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

14.3, on trailing-twelve-month earnings from its filings.

How fast is Ashapura Minechem Limited growing?

Ashapura Minechem Limited: revenue has compounded at 42.0% a year over three years; net profit at 50.8% a year. Latest-quarter revenue is up 11.6% year on year, profit down 46.5%.

How profitable is Ashapura Minechem Limited?

On a trailing-twelve-month basis return on equity is 15.4%, return on capital employed 16.6%, operating margin 9.8%, net margin 5.0%.

How much debt does Ashapura Minechem Limited have?

Ashapura Minechem Limited is moderately geared: debt to equity is 0.79 with borrowings of ₹1,425 cr against cash of ₹378 cr (balance sheet of 2026-09-30). Operating profit covers interest 4.5 times.

Financials parsed from Ashapura Minechem Limited's own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from MAR '18, annual from FY18, balance sheet from Sep '22. * = derived (full year or half year minus earlier quarters). Information only, not investment advice.