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Last Updated: April 2, 2026, 4:09 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 541702 | NSE: ASHNI

Ashnisha Industries Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹1.35Overvalued by 58.84%vs CMP ₹3.28

P/E (256.0) × ROE (0.3%) × BV (₹2.30) × DY (2.00%)

₹0.86Overvalued by 73.78%vs CMP ₹3.28
MoS: -281.4% (Negative)Confidence: 60/100 (Moderate)Models: All 6: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1.3332%Over (-59.5%)
Graham NumberEarnings₹0.7223%Over (-78%)
Earnings PowerEarnings₹0.0516%Over (-98.5%)
Net Asset ValueAssets₹2.2910%Over (-30.2%)
Earnings YieldEarnings₹0.1010%Over (-97%)
Revenue MultipleRevenue₹0.098%Over (-97.3%)
Consensus (6 models)₹0.86100%Overvalued
Key Drivers: P/E of 256 makes PE-ROE unreliable — asset/earnings models are better benchmarks. | ROE 0.3% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -1.0%

*Investments are subject to market risks

Investment Snapshot

40
Ashnisha Industries Ltd scores 40/100 (Weak)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health54/100 · Moderate
ROCE 1.2% WeakROE 0.3% WeakD/E 0.07 Low debtInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money35/100 · Weak
Promoter decreased by 10.74% Caution
Earnings Quality30/100 · Weak
OPM contracting (-1% → -43%) DecliningWorking capital: 3,411 days Capital intensive
Quarterly Momentum55/100 · Moderate
Revenue (4Q): -20% YoY DecliningProfit (4Q): +26% YoY Strong
Industry Rank10/100 · Weak
P/E 256.0 vs industry 83.4 Premium to peersROCE 1.2% vs industry 13.3% Below peersROE 0.3% vs industry 192.3% Below peers3Y sales CAGR: -19% Shrinking

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.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:09 am

Market Cap 87.0 Cr.
Current Price 3.28
Intrinsic Value₹0.86
High / Low 4.94/2.57
Stock P/E256
Book Value 2.30
Dividend Yield0.00 %
ROCE1.23 %
ROE0.28 %
Face Value 1.00
PEG Ratio-263.63

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

View Share Price Target for Ashnisha Industries Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Ashnisha Industries Ltd 87.0 Cr. 3.28 4.94/2.57256 2.300.00 %1.23 %0.28 % 1.00
Mukand Ltd 1,800 Cr. 125 162/84.430.0 66.31.61 %9.91 %7.84 % 10.0
Usha Martin Ltd 12,392 Cr. 407 498/28127.7 97.30.74 %18.8 %15.8 % 1.00
Jindal Stainless Ltd 58,109 Cr. 705 884/49719.7 2190.43 %18.2 %16.2 % 2.00
Elango Industries Ltd 3.31 Cr. 8.67 16.1/7.84 9.720.00 %5.67 %5.67 % 10.0
Industry Average18,104.25 Cr217.8983.3566.630.46%13.27%192.30%5.67

All Competitor Stocks of Ashnisha Industries Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 3.109.432.552.061.066.800.420.692.691.040.354.492.59
Expenses 3.479.992.282.170.887.591.320.812.743.960.604.662.71
Operating Profit -0.37-0.560.27-0.110.18-0.79-0.90-0.12-0.05-2.92-0.25-0.17-0.12
OPM % -11.94%-5.94%10.59%-5.34%16.98%-11.62%-214.29%-17.39%-1.86%-280.77%-71.43%-3.79%-4.63%
Other Income 0.251.150.120.490.161.631.080.270.194.240.500.350.31
Interest 0.000.000.000.000.000.000.000.000.000.000.000.000.00
Depreciation -0.260.070.080.070.070.300.130.130.130.130.130.130.13
Profit before tax 0.140.520.310.310.270.540.050.020.011.190.120.050.06
Tax % 0.00%46.15%0.00%22.58%25.93%62.96%0.00%50.00%0.00%91.60%0.00%0.00%0.00%
Net Profit 0.140.270.310.240.200.200.050.010.010.100.120.060.06
EPS in Rs 0.010.010.010.010.010.010.000.000.000.000.000.000.00

Last Updated: March 3, 2026, 12:10 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 10:35 pm

MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 11.8174.2126.8010.169.0119.6412.474.838.47
Expenses 11.8265.8228.239.729.0619.9312.928.8411.93
Operating Profit -0.018.39-1.430.44-0.05-0.29-0.45-4.01-3.46
OPM % -0.08%11.31%-5.34%4.33%-0.55%-1.48%-3.61%-83.02%-40.85%
Other Income -0.640.640.400.642.271.742.405.795.40
Interest 0.000.690.240.100.010.010.000.000.00
Depreciation 0.014.103.661.700.980.300.520.520.52
Profit before tax -0.664.24-4.93-0.721.231.141.431.261.42
Tax % 0.00%5.19%-8.32%-2.78%65.85%21.05%33.57%87.30%
Net Profit -0.664.02-4.51-0.690.420.900.960.170.34
EPS in Rs -0.080.51-0.57-0.090.050.030.040.010.00
Dividend Payout % 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)709.09%-212.19%84.70%160.87%114.29%6.67%-82.29%
Change in YoY Net Profit Growth (%)0.00%-921.28%296.89%76.17%-46.58%-107.62%-88.96%

Ashnisha Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 7 years from 2018-2019 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:%
5 Years:-29%
3 Years:-19%
TTM:-54%
Compounded Profit Growth
10 Years:%
5 Years:15%
3 Years:-5%
TTM:-65%
Stock Price CAGR
10 Years:%
5 Years:57%
3 Years:23%
1 Year:-47%
Return on Equity
10 Years:%
5 Years:1%
3 Years:1%
Last Year:0%

Last Updated: September 5, 2025, 2:26 pm

Balance Sheet

Last Updated: March 3, 2026, 12:32 am

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 3.023.023.023.023.029.9010.1010.1010.10
Reserves 9.1613.1941.8541.1641.5846.4750.4650.6150.76
Borrowings 1.6769.921.743.181.741.693.7746.135.12
Other Liabilities 1.549.6419.4125.0922.3026.9129.4621.0019.98
Total Liabilities 15.3995.7766.0272.4568.6484.9793.79127.8485.96
Fixed Assets 0.0514.558.9013.4212.7012.1711.6611.1410.88
CWIP -0.00-0.00-0.00-0.00-0.00-0.00-0.000.340.48
Investments 2.171.374.164.010.590.593.592.820.77
Other Assets 13.1779.8552.9655.0255.3572.2178.54113.5473.83
Total Assets 15.3995.7766.0272.4568.6484.9793.79127.8485.96

Reserves and Borrowings Chart

Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -11.5757.79-67.2916.56-17.99-8.932.96-12.75
Cash from Investing Activity + -0.77-16.33-0.40-3.784.611.74-0.750.62
Cash from Financing Activity + 12.36-41.4172.10-2.50-1.289.66-4.0111.52
Net Cash Flow 0.020.054.4010.27-14.662.47-1.80-0.61
Free Cash Flow -11.6342.86-65.3011.98-18.25-8.932.96-13.09
CFO/OP 115,700%689%4,706%3,764%35,980%3,034%-707%294%

Free Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-1.68-61.53-3.17-2.74-1.79-1.98-4.22-50.14

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 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 309.68115.29135.65310.03234.15232.86453.10560.72
Inventory Days 0.0033.79110.5463.9551.100.007.810.00
Days Payable 33.1638.77410.6882.73360.77
Cash Conversion Cycle 309.68115.92207.42-36.69202.52232.86100.15560.72
Working Capital Days 358.51-197.18344.84271.241,071.50655.48929.623,411.20
ROCE %9.81%-6.27%-0.98%0.94%1.68%1.84%1.23%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 27.11%27.11%27.11%26.57%17.35%17.35%17.35%17.35%17.35%17.35%17.35%6.61%
Public 72.88%72.89%72.89%73.42%82.65%82.64%82.64%82.65%82.65%82.64%82.64%93.39%
No. of Shareholders 8,6398,55846,64263,36978,19573,74968,63466,86365,92864,46863,03463,899

Shareholding Pattern Chart

No. of Shareholders

Ashnisha Industries 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 1.001.001.0010.0010.00
Basic EPS (Rs.) 0.020.100.131.40-2.28
Diluted EPS (Rs.) 0.020.100.131.40-2.28
Cash EPS (Rs.) 0.060.140.124.653.33
Book Value[Excl.RevalReserv]/Share (Rs.) 6.017.637.35201.47198.66
Book Value[Incl.RevalReserv]/Share (Rs.) 6.017.637.35201.47198.66
Revenue From Operations / Share (Rs.) 0.471.241.9829.8433.67
PBDIT / Share (Rs.) 0.170.190.147.343.59
PBIT / Share (Rs.) 0.120.140.114.09-2.03
PBT / Share (Rs.) 0.120.140.114.07-2.36
Net Profit / Share (Rs.) 0.010.090.091.40-2.28
NP After MI And SOA / Share (Rs.) 0.010.090.091.40-2.28
PBDIT Margin (%) 36.8315.627.3524.5910.65
PBIT Margin (%) 26.1511.495.8213.70-6.02
PBT Margin (%) 26.1511.495.7913.64-7.00
Net Profit Margin (%) 3.497.664.574.68-6.78
NP After MI And SOA Margin (%) 3.497.664.574.68-6.78
Return on Networth / Equity (%) 0.271.571.590.94-1.56
Return on Capital Employeed (%) 1.541.761.531.97-0.99
Return On Assets (%) 0.131.011.050.61-0.95
Long Term Debt / Equity (X) 0.060.060.020.030.03
Total Debt / Equity (X) 0.750.060.020.030.07
Asset Turnover Ratio (%) 0.040.130.250.000.00
Current Ratio (X) 1.983.564.595.323.07
Quick Ratio (X) 1.823.544.595.152.94
Inventory Turnover Ratio (X) 1.260.000.000.000.00
Interest Coverage Ratio (X) 5932.009746.50277.65381.4910.88
Interest Coverage Ratio (Post Tax) (X) 564.674779.50173.8573.63-5.93
Enterprise Value (Cr.) 95.9780.93166.0222.395.39
EV / Net Operating Revenue (X) 19.866.498.452.490.53
EV / EBITDA (X) 53.9341.52114.9910.114.98
MarketCap / Net Operating Revenue (X) 6.904.937.670.510.12
Price / BV (X) 0.541.022.670.100.02
Price / Net Operating Revenue (X) 6.904.937.670.510.12
EarningsYield 0.010.010.010.09-0.55

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Ashnisha Industries Ltd. is a Public Limited Listed company incorporated on 27/07/2009 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L74110GJ2009PLC057629 and registration number is 057629. Currently Company is involved in the business activities of Wholesale of metals and metal ores. Company's Total Operating Revenue is Rs. 2.83 Cr. and Equity Capital is Rs. 10.10 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Steel - Alloys/Special7th Floor, Ashoka Chambers, Opp. HCG Hospital, Ahmedabad Gujarat 380006Contact not found
Management
NamePosition Held
Mr. Ashok ShahManaging Director
Mr. Shalin ShahDirector
Mrs. Deepti GavaliIndependent Director
Mr. Swapnil ShimpiIndependent Director
Mr. Yash BodadeIndependent Director

FAQ

What is the intrinsic value of Ashnisha Industries Ltd and is it undervalued?

As of 14 April 2026, Ashnisha Industries Ltd's intrinsic value is ₹0.86, which is 73.78% lower than the current market price of ₹3.28, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (0.28 %), book value (₹2.30), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Ashnisha Industries Ltd?

Ashnisha Industries Ltd is trading at ₹3.28 as of 14 April 2026, with a FY2026-2027 high of ₹4.94 and low of ₹2.57. The stock is currently in the middle of its 52-week range. Market cap stands at ₹87.0 Cr..

How does Ashnisha Industries Ltd's P/E ratio compare to its industry?

Ashnisha Industries Ltd has a P/E ratio of 256, which is above the industry average of 83.35. This significantly elevated P/E suggests the market expects strong future growth, or the stock may be overpriced relative to current earnings.

Is Ashnisha Industries Ltd financially healthy?

Key indicators for Ashnisha Industries Ltd: ROCE of 1.23 % is on the lower side compared to the industry average of 13.27%; ROE of 0.28 % is below ideal levels (industry average: 192.30%). Dividend yield is 0.00 %.

Is Ashnisha Industries Ltd profitable and how is the profit trend?

Ashnisha Industries Ltd reported a net profit of ₹0 Cr in Mar 2025 on revenue of ₹5 Cr. Compared to ₹0 Cr in Mar 2022, the net profit shows a declining trend.

Does Ashnisha Industries Ltd pay dividends?

Ashnisha Industries Ltd has a dividend yield of 0.00 % at the current price of ₹3.28. The company is currently not paying meaningful dividends.

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 Ashnisha Industries 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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