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Last Updated: April 2, 2026, 2:38 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 527001 | NSE: ASHAPURMIN

Ashapura Minechem Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹394.93Overvalued by 18.74%vs CMP ₹486.00

P/E (12.2) × ROE (27.1%) × BV (₹149.00) × DY (0.21%)

₹394.95Overvalued by 18.73%vs CMP ₹486.00
MoS: -23.1% (Negative)Confidence: 58/100 (Moderate)Models: 1 Under, 1 Fair, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹525.5523%Fair (+8.1%)
Graham NumberEarnings₹363.8117%Over (-25.1%)
Earnings PowerEarnings₹93.4011%Over (-80.8%)
DCFCash Flow₹831.3911%Under (+71.1%)
Net Asset ValueAssets₹149.177%Over (-69.3%)
EV/EBITDAEnterprise₹347.509%Over (-28.5%)
Earnings YieldEarnings₹394.807%Over (-18.8%)
ROCE CapitalReturns₹241.077%Over (-50.4%)
Revenue MultipleRevenue₹286.526%Over (-41%)
Consensus (9 models)₹394.95100%Overvalued
Key Drivers: EPS CAGR 33.1% lifts DCF — verify sustainability. | Wide model spread (₹93–₹831) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 33.1%

*Investments are subject to market risks

Investment Snapshot

70
Ashapura Minechem Ltd scores 70/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health67/100 · Strong
ROCE 18.6% GoodROE 27.1% ExcellentD/E 1.48 High debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money70/100 · Strong
FII holding up 2.69% (6mo) AccumulatingPromoter holding at 47.9% Stable
Earnings Quality65/100 · Strong
OPM expanding (9% → 12%) Improving
Quarterly Momentum80/100 · Strong
Revenue (4Q): +46% YoY AcceleratingProfit (4Q): +35% YoY StrongOPM: 12.0% (down 4.0% YoY) Margin pressure
Industry Rank70/100 · Strong
P/E 12.2 vs industry 15.4 In-lineROCE 18.6% vs industry 19.6% AverageROE 27.1% vs industry 16.9% Above peers3Y sales CAGR: 29% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Ashapura Minechem Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
40/100
Moderate
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 12.2 vs Ind 15.4 | ROCE 18.6% | ROE 27.1% | CFO/NP N/A
Balance Sheet Stress
30/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 1.48x | IntCov 0.0x | Current 1.16x | Borrow/Reserve 0.87x
Cash Flow Reliability
14/100
Weak
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹289 Cr | CFO/NP N/A
Ownership Accumulation
+75
Accumulation
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII +1.23 pp | DII +0.03 pp | Prom +0.09 pp
Business Momentum
-41
Early weakness
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales +0.8% | Q NP -28.3% | Q OPM -2.0 pp
Derived FieldValueHow it is derived
Valuation Gap %-18.7%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.87xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change+1.23 ppLatest FII% minus previous FII%
DII Change+0.03 ppLatest DII% minus previous DII%
Promoter Change+0.09 ppLatest promoter% minus previous promoter%
Shareholder Count Change+3,661Latest shareholder count minus previous count
Quarterly Sales Change+0.8%Latest quarter sales vs previous quarter sales
Quarterly Profit Change-28.3%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change-2.0 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:38 am

Market Cap 4,646 Cr.
Current Price 486
Intrinsic Value₹394.95
High / Low 925/316
Stock P/E12.2
Book Value 149
Dividend Yield0.21 %
ROCE18.6 %
ROE27.1 %
Face Value 2.00
PEG Ratio0.37

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

View Share Price Target for Ashapura Minechem Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Ashapura Minechem Ltd 4,646 Cr. 486 925/31612.2 1490.21 %18.6 %27.1 % 2.00
MOIL Ltd 5,996 Cr. 295 406/24220.6 1331.91 %18.8 %14.7 % 10.0
Orissa Minerals Development Company Ltd 2,028 Cr. 3,381 6,139/3,100 85.40.00 %38.5 %% 1.00
Deccan Gold Mines Ltd 1,808 Cr. 91.4 162/83.8 10.30.00 %21.1 %14.2 % 1.00
South West Pinnacle Exploration Ltd 647 Cr. 217 243/10022.6 60.90.00 %11.7 %9.02 % 10.0
Industry Average51,564.31 Cr471.3415.4197.991.59%19.57%16.87%5.18

All Competitor Stocks of Ashapura Minechem Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 5356961,0185547134407146048655551,356952960
Expenses 4776379085246553926275407314711,174822846
Operating Profit 5859110305848876413584182131114
OPM % 11%8%11%6%8%11%12%11%16%15%13%14%12%
Other Income 2022313239594102056121228
Interest 20192012221617192330312924
Depreciation 18191819202117201229323234
Profit before tax 40421033154705736119821328185
Tax % 28%27%6%12%15%13%8%-20%10%7%14%-30%10%
Net Profit 294010258546760431087911410676
EPS in Rs 3.584.3711.246.496.167.496.514.6411.049.0511.5010.118.82

Last Updated: February 6, 2026, 4:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 23, 2026, 10:16 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,0831,7531,7758337946223341,1481,2781,8312,6542,7393,824
Expenses 8501,4831,5357947906263801,0261,1761,6532,4012,3623,312
Operating Profit 234270240394-4-45122102178252377511
OPM % 22%15%14%5%1%-1%-14%11%8%10%10%14%13%
Other Income 6-225242520-26548793112102211101108
Interest 302022171920316058687696114
Depreciation 263544483933284558737978127
Profit before tax 184-9198-1-33-32238211098139309304379
Tax % 5%315%23%1,502%36%2%-0%21%12%21%9%5%
Net Profit 174-36162-19-45-3273838787110282289374
EPS in Rs 20.03-4.1918.66-2.17-5.19-38.0544.5710.069.4612.7931.3730.9739.48
Dividend Payout % 0%0%0%0%0%0%0%5%5%0%0%3%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-120.69%550.00%-111.73%-136.84%-626.67%217.13%-77.28%0.00%26.44%156.36%2.48%
Change in YoY Net Profit Growth (%)0.00%670.69%-661.73%-25.11%-489.82%843.79%-294.41%77.28%26.44%129.93%-153.88%

Ashapura Minechem Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:5%
5 Years:52%
3 Years:29%
TTM:40%
Compounded Profit Growth
10 Years:6%
5 Years:43%
3 Years:60%
TTM:115%
Stock Price CAGR
10 Years:29%
5 Years:51%
3 Years:72%
1 Year:72%
Return on Equity
10 Years:%
5 Years:22%
3 Years:25%
Last Year:27%

Last Updated: September 4, 2025, 11:45 pm

Balance Sheet

Last Updated: December 10, 2025, 2:23 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 17171717171717171818181919
Reserves -117-1622-20-65-3783294175036469121,2231,407
Borrowings 2851882041441852094416646397589841,1631,228
Other Liabilities 7881,0921,2071,1631,1481,2031,0331,1351,2641,6091,3971,5261,498
Total Liabilities 9731,1361,4301,3051,2861,0511,8202,2332,4243,0323,3113,9314,152
Fixed Assets 2823333453363082545445275395845771,3491,339
CWIP 36291105219542042542625045572
Investments 6163146243267180274290268288321344363
Other Assets 5937118287216896089471,2121,3631,8971,9092,1812,377
Total Assets 9731,1361,4301,3051,2861,0511,8202,2332,4243,0323,3113,9314,152

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 018623172-18-21716-2011494148188
Cash from Investing Activity + 0-98-208-30-20160-156-168-63-130-274-392
Cash from Financing Activity + 0-70-14-433668131182-6080191178
Net Cash Flow 0189-1-211-9-5-94465-25
Free Cash Flow 0839336-45-221-3-196-2-40-125-208
CFO/OP 0%78%108%282%-97%4,688%-39%-5%127%63%76%61%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-51.0082.0036.00-105.00-181.00-213.00-486.00-542.00-537.00-580.00-732.00376.00

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 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 73566110395612029289983773
Inventory Days 431287269329285226532364453447390506
Days Payable 222267258265187168328461387475415477
Cash Conversion Cycle 2827672166193120406-51547012103
Working Capital Days -163-125-118-266-214-405-323535562136
ROCE %135%211%153%10%0%-42%-14%16%12%16%17%19%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 45.33%45.33%45.33%45.33%45.39%45.39%47.70%47.70%47.76%47.76%47.79%47.88%
FIIs 16.99%17.09%18.03%17.56%17.24%16.45%15.72%16.00%16.56%16.42%18.02%19.25%
DIIs 0.14%0.14%0.19%0.18%0.48%0.45%0.13%0.14%0.38%0.26%0.35%0.38%
Public 37.53%37.43%36.44%36.92%36.89%37.71%36.44%36.14%35.31%35.57%33.83%32.49%
No. of Shareholders 26,21425,55727,46631,09130,41529,92833,97430,70532,28933,26736,09639,757

Shareholding Pattern Chart

No. of Shareholders

Ashapura Minechem Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 31.4631.3712.799.6510.06
Diluted EPS (Rs.) 31.4630.5012.799.659.72
Cash EPS (Rs.) 35.6533.8518.0014.0213.77
Book Value[Excl.RevalReserv]/Share (Rs.) 130.02100.2671.8456.9549.91
Book Value[Incl.RevalReserv]/Share (Rs.) 130.02100.2671.8456.9549.91
Revenue From Operations / Share (Rs.) 286.72290.08200.12139.68131.99
PBDIT / Share (Rs.) 46.5733.6628.2821.3120.22
PBIT / Share (Rs.) 38.4125.0720.3414.9615.05
PBT / Share (Rs.) 29.1028.2113.318.9011.21
Net Profit / Share (Rs.) 27.4925.2610.067.678.61
NP After MI And SOA / Share (Rs.) 30.9731.3712.799.4610.06
PBDIT Margin (%) 16.2411.6014.1215.2515.31
PBIT Margin (%) 13.398.6410.1610.7011.40
PBT Margin (%) 10.149.726.656.378.49
Net Profit Margin (%) 9.588.705.025.486.52
NP After MI And SOA Margin (%) 10.8010.816.396.777.61
Return on Networth / Equity (%) 23.8130.8517.6016.5920.14
Return on Capital Employeed (%) 16.5012.9711.5010.5810.42
Return On Assets (%) 7.528.663.833.563.91
Long Term Debt / Equity (X) 0.680.730.971.011.27
Total Debt / Equity (X) 0.931.061.141.221.48
Asset Turnover Ratio (%) 0.750.830.660.410.33
Current Ratio (X) 1.231.191.281.141.16
Quick Ratio (X) 0.840.850.910.770.86
Inventory Turnover Ratio (X) 4.660.710.940.240.32
Dividend Payout Ratio (NP) (%) 0.000.000.005.280.00
Dividend Payout Ratio (CP) (%) 0.000.000.003.160.00
Earning Retention Ratio (%) 0.000.000.0094.720.00
Cash Earning Retention Ratio (%) 0.000.000.0096.840.00
Interest Coverage Ratio (X) 5.004.424.023.523.34
Interest Coverage Ratio (Post Tax) (X) 3.952.902.432.272.05
Enterprise Value (Cr.) 4451.674259.261694.731766.351506.31
EV / Net Operating Revenue (X) 1.631.600.921.381.31
EV / EBITDA (X) 10.0113.836.559.068.56
MarketCap / Net Operating Revenue (X) 1.251.290.550.910.78
Retention Ratios (%) 0.000.000.0094.710.00
Price / BV (X) 2.763.691.542.232.09
Price / Net Operating Revenue (X) 1.251.290.550.910.78
EarningsYield 0.080.080.110.070.09

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

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 Manufacture of non-metallic mineral products. Company's Total Operating Revenue is Rs. 371.52 Cr. and Equity Capital is Rs. 19.11 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Mining/MineralsJeevan Udyog Bldg, Mumbai Maharashtra 400001Contact not found
Management
NamePosition Held
Mr. Chetan ShahExecutive Chairman
Mr. Hemul ShahExecutive Director & CEO
Mr. Harish MotiwallaInd. Non-Executive Director
Mr. Pundarik SanyalInd. Non-Executive Director
Mr. Dipak VoraInd. Non-Executive Director
Mrs. Himani ShahNon Exe.Non Ind.Director
Ms. Surekha SatheInd. Non-Executive Woman Director

FAQ

What is the intrinsic value of Ashapura Minechem Ltd and is it undervalued?

As of 05 April 2026, Ashapura Minechem Ltd's intrinsic value is ₹394.95, which is 18.73% lower than the current market price of ₹486.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (27.1 %), book value (₹149), dividend yield (0.21 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Ashapura Minechem Ltd?

Ashapura Minechem Ltd is trading at ₹486.00 as of 05 April 2026, with a FY2026-2027 high of ₹925 and low of ₹316. The stock is currently in the middle of its 52-week range. Market cap stands at ₹4,646 Cr..

How does Ashapura Minechem Ltd's P/E ratio compare to its industry?

Ashapura Minechem Ltd has a P/E ratio of 12.2, which is below the industry average of 15.41. This is broadly in line with or below the industry average.

Is Ashapura Minechem Ltd financially healthy?

Key indicators for Ashapura Minechem Ltd: ROCE of 18.6 % indicates efficient capital utilization; ROE of 27.1 % shows strong shareholder returns. Dividend yield is 0.21 %.

Is Ashapura Minechem Ltd profitable and how is the profit trend?

Ashapura Minechem Ltd reported a net profit of ₹289 Cr in Mar 2025 on revenue of ₹2,739 Cr. Compared to ₹87 Cr in Mar 2022, the net profit shows an improving trend.

Does Ashapura Minechem Ltd pay dividends?

Ashapura Minechem Ltd has a dividend yield of 0.21 % at the current price of ₹486.00. The company pays dividends, though the yield is modest.

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
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