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Last Updated on: 18 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 527001 | NSE: ASHAPURMIN

Ashapura Minechem Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 15, 2024, 4:02 pm

Market Cap 2,425 Cr.
Current Price 254
High / Low483/200
Stock P/E16.2
Book Value 111
Dividend Yield0.00 %
ROCE17.3 %
ROE24.6 %
Face Value 2.00
PEG Ratio0.75

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Ashapura Minechem Ltd

Competitors of Ashapura Minechem Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Ganesha Ecoverse Ltd 116 Cr. 47.071.9/42.821.3 4.290.00 %28.2 %39.4 % 10.0
Foundry Fuel Products Ltd 7.01 Cr. 8.7414.6/4.12 1.350.00 %%% 10.0
Deccan Gold Mines Ltd 1,881 Cr. 122179/88.5 14.30.00 %8.77 %34.8 % 1.00
Asi Industries Ltd 378 Cr. 42.056.2/18.214.1 35.90.83 %10.1 %7.47 % 1.00
Anmol India Ltd 161 Cr. 28.368.0/28.012.0 18.40.00 %14.9 %23.6 % 10.0
Industry Average37,780.57 Cr641.5835.4776.751.73%19.61%20.19%5.38

All Competitor Stocks of Ashapura Minechem Ltd

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales4522702253314021985356961,018554713440714
Expenses381242253303351193477637908524655392627
Operating Profit7129-2828515585911030584887
OPM %16%11%-12%8%13%2%11%8%11%6%8%11%12%
Other Income2028341316282022313239594
Interest1814815131220192012221617
Depreciation14151414171918191819202117
Profit before tax5827-1612381404210331547057
Tax %6%3%38%7%18%5%28%27%6%12%15%13%8%
Net Profit6034-2012356294010258546760
EPS in Rs6.943.71-2.201.354.290.563.584.3711.246.496.167.496.51

Last Updated: September 11, 2024, 4:53 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 11, 2024, 4:53 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales7721,0831,7531,7758337946223341,1481,2781,8312,6542,421
Expenses6208501,4831,5357947906263801,0261,1761,6532,4012,198
Operating Profit152234270240394-4-45122102178252224
OPM %20%22%15%14%5%1%-1%-14%11%8%10%10%9%
Other Income-216-225242520-26548793112102211133
Interest55302022171920316058687667
Depreciation26263544483933284558737977
Profit before tax50184-9198-1-33-32238211098139309212
Tax %11%5%315%23%1,502%36%2%-0%21%12%21%9%
Net Profit44174-36162-19-45-3273838787110282240
EPS in Rs5.3220.03-4.1918.66-2.17-5.19-38.0544.5710.069.4612.7931.3726.65
Dividend Payout %0%0%0%0%0%0%0%0%5%5%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)295.45%-120.69%550.00%-111.73%-136.84%-626.67%217.13%-77.28%0.00%26.44%156.36%
Change in YoY Net Profit Growth (%)0.00%-416.14%670.69%-661.73%-25.11%-489.82%843.79%-294.41%77.28%26.44%129.93%

Ashapura Minechem Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:9%
5 Years:34%
3 Years:32%
TTM:-12%
Compounded Profit Growth
10 Years:1%
5 Years:46%
3 Years:42%
TTM:-32%
Stock Price CAGR
10 Years:14%
5 Years:58%
3 Years:35%
1 Year:-20%
Return on Equity
10 Years:%
5 Years:%
3 Years:20%
Last Year:25%

Last Updated: Unknown

Balance Sheet

Last Updated: September 11, 2024, 4:53 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Equity Capital171717171717171717181818
Reserves-302-117-1622-20-65-378325413503637902
Borrowings412285188204144185209441664639758984
Other Liabilities7537881,0921,2071,1631,1481,2031,0371,1381,2641,6191,407
Total Liabilities8809731,1361,4301,3051,2861,0511,8202,2332,4243,0323,311
Fixed Assets270282333345336308254544527539584577
CWIP303629110521954204254262504
Investments56163146243267180274290268288321
Other Assets5745937118287216896089471,2121,3631,8971,909
Total Assets8809731,1361,4301,3051,2861,0511,8202,2332,4243,0323,311

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +188018623172-18-21716-2011494148
Cash from Investing Activity +-210-98-208-30-20160-156-168-63-130-274
Cash from Financing Activity +-1560-70-14-433668131182-6080191
Net Cash Flow120189-1-211-9-5-94465

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-260.00-51.0082.0036.00-105.00-181.00-213.00-486.00-542.00-537.00-580.00-732.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days88735661103956120292899837
Inventory Days923431287269329285226532364453420358
Days Payable376222267258265187168328461387446383
Cash Conversion Cycle6362827672166193120406-51547213
Working Capital Days-163-112-102-101-240-183-3771270668662
ROCE %99%136%211%153%10%0%-42%-14%16%12%16%17%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Aug 2024
Promoters44.58%44.58%44.74%44.79%45.22%45.33%45.33%45.33%45.33%45.39%45.39%47.70%
FIIs21.12%20.60%19.12%16.32%16.35%16.99%17.09%18.03%17.56%17.24%16.45%15.64%
DIIs0.14%0.14%0.14%0.14%0.14%0.14%0.14%0.19%0.18%0.48%0.45%0.40%
Public34.17%34.68%36.00%38.75%38.29%37.53%37.43%36.44%36.92%36.89%37.71%36.25%
No. of Shareholders24,00223,66726,22828,42428,03326,21425,55727,46631,09130,41529,92831,328

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)31.3712.799.6510.0644.57
Diluted EPS (Rs.)30.5012.799.659.7244.57
Cash EPS (Rs.)33.8518.0014.0213.7746.29
Book Value[Excl.RevalReserv]/Share (Rs.)100.2671.8456.9549.9139.79
Book Value[Incl.RevalReserv]/Share (Rs.)100.2671.8456.9549.9139.79
Revenue From Operations / Share (Rs.)290.08200.12139.68131.9938.43
PBDIT / Share (Rs.)33.6628.2821.3120.22-4.76
PBIT / Share (Rs.)25.0720.3414.9615.05-8.02
PBT / Share (Rs.)28.2113.318.9011.2142.91
Net Profit / Share (Rs.)25.2610.067.678.6143.03
NP After MI And SOA / Share (Rs.)31.3712.799.4610.0644.57
PBDIT Margin (%)11.6014.1215.2515.31-12.37
PBIT Margin (%)8.6410.1610.7011.40-20.86
PBT Margin (%)9.726.656.378.49111.64
Net Profit Margin (%)8.705.025.486.52111.95
NP After MI And SOA Margin (%)10.816.396.777.61115.96
Return on Networth / Equity (%)30.8517.6016.5920.14111.94
Return on Capital Employeed (%)12.9711.5010.5810.42-6.52
Return On Assets (%)8.663.833.563.9121.30
Long Term Debt / Equity (X)0.730.971.011.271.13
Total Debt / Equity (X)1.061.141.221.481.24
Asset Turnover Ratio (%)0.830.660.410.330.26
Current Ratio (X)1.191.281.141.161.03
Quick Ratio (X)0.850.910.770.860.72
Inventory Turnover Ratio (X)0.790.940.240.320.61
Dividend Payout Ratio (NP) (%)0.000.005.280.000.00
Dividend Payout Ratio (CP) (%)0.000.003.160.000.00
Earning Retention Ratio (%)0.000.0094.720.00100.00
Cash Earning Retention Ratio (%)0.000.0096.840.00100.00
Interest Coverage Ratio (X)4.424.023.523.34-1.34
Interest Coverage Ratio (Post Tax) (X)2.902.432.272.05-2.22
Enterprise Value (Cr.)4261.221694.731766.351506.31560.50
EV / Net Operating Revenue (X)1.610.921.381.311.68
EV / EBITDA (X)13.846.559.068.56-13.54
MarketCap / Net Operating Revenue (X)1.290.550.910.780.53
Retention Ratios (%)0.000.0094.710.0099.99
Price / BV (X)3.691.542.232.090.51
Price / Net Operating Revenue (X)1.290.550.910.780.53
EarningsYield0.080.110.070.092.18

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Ashapura Minechem Ltd as of November 18, 2024 is: 451.20

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 18, 2024, Ashapura Minechem Ltd is Undervalued by 77.64% compared to the current share price 254.00

Intrinsic Value of Ashapura Minechem Ltd as of November 18, 2024 is: 548.26

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 18, 2024, Ashapura Minechem Ltd is Undervalued by 115.85% compared to the current share price 254.00

Last 5 Year EPS CAGR: 21.51%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 51.17%, which is a positive sign.
  2. The stock has a low average Working Capital Days of -81.83, which is a positive sign.
  3. The company has shown consistent growth in sales (258.85 cr) and profit (101.31 cr) over the years.
  1. The stock has a high average Cash Conversion Cycle of 182.08, which may not be favorable.
  2. The company has higher borrowings (426.08) compared to reserves (144.83), which may suggest financial risk.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Ashapura Minechem Ltd:
    1. Net Profit Margin: 8.7%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 12.97% (Industry Average ROCE: 19.61%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 30.85% (Industry Average ROE: 20.19%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 2.9
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0.85
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 16.2 (Industry average Stock P/E: 35.47)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 1.06
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Ashapura Minechem Ltd. is a Public Limited Listed company incorporated on 19/02/1982 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L14108MH1982PLC026396 and registration number is 026396. Currently Company is involved in the business activities of Mining of other non-ferrous metal ores. Company’s Total Operating Revenue is Rs. 598.15 Cr. and Equity Capital is Rs. 18.30 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Mining/MineralsJeevan Udyog Bldg, Mumbai Maharashtra 400001cosec@ashapura.com
http://www.ashapura.com
Management
NamePosition Held
Mr. Chetan ShahExecutive Chairman
Mr. Hemul ShahExecutive Director & CEO
Mr. Harish MotiwallaInd. Non-Executive Director
Mrs. Neeta ShahInd. Non-Executive Woman Director
Mr. Pundarik SanyalInd. Non-Executive Director
Mrs. Himani ShahNon Exe.Non Ind.Director

FAQ

What is the latest intrinsic value of Ashapura Minechem Ltd?

The latest intrinsic value of Ashapura Minechem Ltd as on 18 November 2024 is ₹451.20, which is 77.64% higher than the current market price of ₹254.00.

What is the Market Cap of Ashapura Minechem Ltd?

The Market Cap of Ashapura Minechem Ltd is 2,425 Cr..

What is the current Stock Price of Ashapura Minechem Ltd as on 18 November 2024?

The current stock price of Ashapura Minechem Ltd as on 18 November 2024 is ₹254.

What is the High / Low of Ashapura Minechem Ltd stocks in FY 2024?

In FY 2024, the High / Low of Ashapura Minechem Ltd stocks is 483/200.

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

The Stock P/E of Ashapura Minechem Ltd is 16.2.

What is the Book Value of Ashapura Minechem Ltd?

The Book Value of Ashapura Minechem Ltd is 111.

What is the Dividend Yield of Ashapura Minechem Ltd?

The Dividend Yield of Ashapura Minechem Ltd is 0.00 %.

What is the ROCE of Ashapura Minechem Ltd?

The ROCE of Ashapura Minechem Ltd is 17.3 %.

What is the ROE of Ashapura Minechem Ltd?

The ROE of Ashapura Minechem Ltd is 24.6 %.

What is the Face Value of Ashapura Minechem Ltd?

The Face Value of Ashapura Minechem Ltd is 2.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Ashapura Minechem Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE