Ashapura Minechem Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 2:51 am

Market Cap	3,813 Cr.
Current Price	399
High / Low	472/200
Stock P/E	25.5
Book Value	111
Dividend Yield	0.00 %
ROCE	17.2 %
ROE	24.3 %
Face Value	2.00
PEG Ratio	1.19

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

Stock P/E Current Price Intrinsic Value

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Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Ganesha Ecoverse Ltd	114 Cr.	46.2	71.9/42.8	20.9	4.29	0.00 %	28.2 %	39.4 %	10.0
Foundry Fuel Products Ltd	5.71 Cr.	7.12	14.6/5.10		1.35	0.00 %	%	%	10.0
Deccan Gold Mines Ltd	1,781 Cr.	116	179/88.5		14.3	0.00 %	8.77 %	34.8 %	1.00
Asi Industries Ltd	482 Cr.	53.5	65.9/20.2	17.9	35.9	0.65 %	10.1 %	7.47 %	1.00
Anmol India Ltd	152 Cr.	26.6	65.9/26.5	11.3	18.4	0.00 %	14.9 %	23.6 %	10.0
Industry Average	36,392.80 Cr	750.61		40.61	78.77	1.70%	21.11%	21.07%	5.18

All Competitor Stocks of

Quarterly Result

Month	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Sales	452	270	225	331	402	198	535	696	1,018	554	713	440	714
Expenses	381	242	253	303	351	193	477	637	908	524	655	392	627
Operating Profit	71	29	-28	28	51	5	58	59	110	30	58	48	87
OPM %	16%	11%	-12%	8%	13%	2%	11%	8%	11%	6%	8%	11%	12%
Other Income	20	28	34	13	16	28	20	22	31	32	39	59	4
Interest	18	14	8	15	13	12	20	19	20	12	22	16	17
Depreciation	14	15	14	14	17	19	18	19	18	19	20	21	17
Profit before tax	58	27	-16	12	38	1	40	42	103	31	54	70	57
Tax %	6%	3%	38%	7%	18%	5%	28%	27%	6%	12%	15%	13%	8%
Net Profit	60	34	-20	12	35	6	29	40	102	58	54	67	60
EPS in Rs	6.94	3.71	-2.20	1.35	4.29	0.56	3.58	4.37	11.24	6.49	6.16	7.49	6.51

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

Quarterly Chart

Profit & Loss - Annual Report

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

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	772	1,083	1,753	1,775	833	794	622	334	1,148	1,278	1,831	2,654	2,421
Expenses	620	850	1,483	1,535	794	790	626	380	1,026	1,176	1,653	2,401	2,198
Operating Profit	152	234	270	240	39	4	-4	-45	122	102	178	252	224
OPM %	20%	22%	15%	14%	5%	1%	-1%	-14%	11%	8%	10%	10%	9%
Other Income	-21	6	-225	24	25	20	-265	487	93	112	102	211	133
Interest	55	30	20	22	17	19	20	31	60	58	68	76	67
Depreciation	26	26	35	44	48	39	33	28	45	58	73	79	77
Profit before tax	50	184	-9	198	-1	-33	-322	382	110	98	139	309	212
Tax %	11%	5%	315%	23%	1,502%	36%	2%	-0%	21%	12%	21%	9%
Net Profit	44	174	-36	162	-19	-45	-327	383	87	87	110	282	240
EPS in Rs	5.32	20.03	-4.19	18.66	-2.17	-5.19	-38.05	44.57	10.06	9.46	12.79	31.37	26.65
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	5%	5%	0%	0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
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%

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:	22%
5 Years:	73%
3 Years:	61%
1 Year:	-5%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	20%
Last Year:	24%

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 3:59 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	17	17	17	17	17	17	17	17	17	18	18	18	19
Reserves	-298	-117	-162	2	-20	-65	-378	329	417	503	646	912	1,041
Borrowings	412	285	188	204	144	185	209	441	664	639	758	984	1,167
Other Liabilities	749	788	1,092	1,207	1,163	1,148	1,203	1,033	1,135	1,264	1,609	1,397	1,584
Total Liabilities	880	973	1,136	1,430	1,305	1,286	1,051	1,820	2,233	2,424	3,032	3,311	3,811
Fixed Assets	270	282	333	345	336	308	254	544	527	539	584	577	610
CWIP	30	36	29	110	5	21	9	54	204	254	262	504	604
Investments	5	61	63	146	243	267	180	274	290	268	288	321	350
Other Assets	574	593	711	828	721	689	608	947	1,212	1,363	1,897	1,909	2,247
Total Assets	880	973	1,136	1,430	1,305	1,286	1,051	1,820	2,233	2,424	3,032	3,311	3,811

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	188	0	186	231	72	-18	-217	16	-20	114	94	148
Cash from Investing Activity +	-21	0	-98	-208	-30	-20	160	-156	-168	-63	-130	-274
Cash from Financing Activity +	-156	0	-70	-14	-43	36	68	131	182	-60	80	191
Net Cash Flow	12	0	18	9	-1	-2	11	-9	-5	-9	44	65

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	-260.00	-51.00	82.00	36.00	-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

Month	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	88	73	56	61	103	95	61	202	92	89	98	37
Inventory Days	923	431	287	269	329	285	226	532	364	453	420	358
Days Payable	376	222	267	258	265	187	168	328	461	387	446	383
Cash Conversion Cycle	636	282	76	72	166	193	120	406	-5	154	72	13
Working Capital Days	-163	-112	-102	-101	-240	-183	-377	12	70	66	86	62
ROCE %	99%	136%	211%	153%	10%	0%	-42%	-14%	16%	12%	16%	17%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Aug 2024
Promoters	44.58%	44.58%	44.74%	44.79%	45.22%	45.33%	45.33%	45.33%	45.33%	45.39%	45.39%	47.70%
FIIs	21.12%	20.60%	19.12%	16.32%	16.35%	16.99%	17.09%	18.03%	17.56%	17.24%	16.45%	15.64%
DIIs	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.19%	0.18%	0.48%	0.45%	0.40%
Public	34.17%	34.68%	36.00%	38.75%	38.29%	37.53%	37.43%	36.44%	36.92%	36.89%	37.71%	36.25%
No. of Shareholders	24,002	23,667	26,228	28,424	28,033	26,214	25,557	27,466	31,091	30,415	29,928	31,328

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	2.00	2.00	2.00	2.00	2.00
Basic EPS (Rs.)	31.37	12.79	9.65	10.06	44.57
Diluted EPS (Rs.)	30.50	12.79	9.65	9.72	44.57
Cash EPS (Rs.)	33.85	18.00	14.02	13.77	46.29
Book Value[Excl.RevalReserv]/Share (Rs.)	100.26	71.84	56.95	49.91	39.79
Book Value[Incl.RevalReserv]/Share (Rs.)	100.26	71.84	56.95	49.91	39.79
Revenue From Operations / Share (Rs.)	290.08	200.12	139.68	131.99	38.43
PBDIT / Share (Rs.)	33.66	28.28	21.31	20.22	-4.76
PBIT / Share (Rs.)	25.07	20.34	14.96	15.05	-8.02
PBT / Share (Rs.)	28.21	13.31	8.90	11.21	42.91
Net Profit / Share (Rs.)	25.26	10.06	7.67	8.61	43.03
NP After MI And SOA / Share (Rs.)	31.37	12.79	9.46	10.06	44.57
PBDIT Margin (%)	11.60	14.12	15.25	15.31	-12.37
PBIT Margin (%)	8.64	10.16	10.70	11.40	-20.86
PBT Margin (%)	9.72	6.65	6.37	8.49	111.64
Net Profit Margin (%)	8.70	5.02	5.48	6.52	111.95
NP After MI And SOA Margin (%)	10.81	6.39	6.77	7.61	115.96
Return on Networth / Equity (%)	30.85	17.60	16.59	20.14	111.94
Return on Capital Employeed (%)	12.97	11.50	10.58	10.42	-6.52
Return On Assets (%)	8.66	3.83	3.56	3.91	21.30
Long Term Debt / Equity (X)	0.73	0.97	1.01	1.27	1.13
Total Debt / Equity (X)	1.06	1.14	1.22	1.48	1.24
Asset Turnover Ratio (%)	0.83	0.66	0.41	0.33	0.26
Current Ratio (X)	1.19	1.28	1.14	1.16	1.03
Quick Ratio (X)	0.85	0.91	0.77	0.86	0.72
Inventory Turnover Ratio (X)	0.71	0.94	0.24	0.32	0.61
Dividend Payout Ratio (NP) (%)	0.00	0.00	5.28	0.00	0.00
Dividend Payout Ratio (CP) (%)	0.00	0.00	3.16	0.00	0.00
Earning Retention Ratio (%)	0.00	0.00	94.72	0.00	100.00
Cash Earning Retention Ratio (%)	0.00	0.00	96.84	0.00	100.00
Interest Coverage Ratio (X)	4.42	4.02	3.52	3.34	-1.34
Interest Coverage Ratio (Post Tax) (X)	2.90	2.43	2.27	2.05	-2.22
Enterprise Value (Cr.)	4259.26	1694.73	1766.35	1506.31	560.50
EV / Net Operating Revenue (X)	1.60	0.92	1.38	1.31	1.68
EV / EBITDA (X)	13.83	6.55	9.06	8.56	-13.54
MarketCap / Net Operating Revenue (X)	1.29	0.55	0.91	0.78	0.53
Retention Ratios (%)	0.00	0.00	94.71	0.00	99.99
Price / BV (X)	3.69	1.54	2.23	2.09	0.51
Price / Net Operating Revenue (X)	1.29	0.55	0.91	0.78	0.53
EarningsYield	0.08	0.11	0.07	0.09	2.18

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 701.57

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 December 22, 2024, is Undervalued by 75.83% compared to the current share price 399.00

Intrinsic Value of as of December 22, 2024 is: 852.49

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 December 22, 2024, is Undervalued by 113.66% compared to the current share price 399.00

Last 5 Year EPS CAGR: 21.51%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 51.17%, which is a positive sign. The stock has a low average Working Capital Days of -81.83, which is a positive sign. The company has shown consistent growth in sales (258.85 cr) and profit (101.31 cr) over the years.	The stock has a high average Cash Conversion Cycle of 182.08, which may not be favorable. The company has higher borrowings (483.08) compared to reserves (216.15), which may suggest financial risk.

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 :
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: 21.11%)
  - 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: 21.07%)
  - 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: 25.5 (Industry average Stock P/E: 40.61)
  - 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.

INDUSTRY	ADDRESS	CONTACT
Mining/Minerals	Jeevan Udyog Bldg, Mumbai Maharashtra 400001	cosec@ashapura.com http://www.ashapura.com

Management
Name	Position Held
Mr. Chetan Shah	Executive Chairman
Mr. Hemul Shah	Executive Director & CEO
Mr. Harish Motiwalla	Ind. Non-Executive Director
Mrs. Neeta Shah	Ind. Non-Executive Woman Director
Mr. Pundarik Sanyal	Ind. Non-Executive Director
Mrs. Himani Shah	Non Exe.Non Ind.Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 21 December 2024 is ₹701.57, which is 75.83% higher than the current market price of ₹399.00. The stock has a market capitalization of 3,813 Cr. and recorded a high/low of 472/200 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹1,041 Cr and total liabilities of ₹3,811 Cr.

What is the Market Cap of ?

The Market Cap of is 3,813 Cr..

What is the current Stock Price of as on 21 December 2024?

The current stock price of as on 21 December 2024 is 399.

What is the High / Low of stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of stocks is 472/200.

What is the Stock P/E of ?

The Stock P/E of is 25.5.

What is the Book Value of ?

The Book Value of is 111.

What is the Dividend Yield of ?

The Dividend Yield of is 0.00 %.

What is the ROCE of ?

The ROCE of is 17.2 %.

What is the ROE of ?

The ROE of is 24.3 %.

What is the Face Value of ?

The Face Value of is 2.00.