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Last Updated: April 2, 2026, 2:38 am
Author: Getaka|Social: XLinkedIn

ASL Industries Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹23.88Overvalued by 67.47%vs CMP ₹73.40

P/E (332.0) × ROE (0.3%) × BV (₹33.90) × DY (2.00%)

₹11.80Overvalued by 83.92%vs CMP ₹73.40
MoS: -522% (Negative)Confidence: 60/100 (Moderate)Models: All 6: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹16.3829%Over (-77.7%)
Graham NumberEarnings₹12.9521%Over (-82.4%)
Earnings PowerEarnings₹4.2214%Over (-94.3%)
DCFCash Flow₹2.1817%Over (-97%)
Net Asset ValueAssets₹33.919%Over (-53.8%)
Earnings YieldEarnings₹2.209%Over (-97%)
Consensus (6 models)₹11.80100%Overvalued
Key Drivers: EPS CAGR -31.4% drags value — could be higher if earnings stabilize. | P/E of 332 makes PE-ROE unreliable — asset/earnings models are better benchmarks.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -31.4%

*Investments are subject to market risks

Investment Snapshot

48
ASL Industries Ltd scores 48/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health58/100 · Moderate
ROCE 0.3% WeakROE 0.3% WeakD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
Promoter holding at 66.3% Stable
Earnings Quality75/100 · Strong
OPM expanding (-4% → 0%) ImprovingWorking capital: 0 days (improving) Efficient
Quarterly Momentum25/100 · Weak
Revenue (4Q): -100% YoY DecliningProfit (4Q): -93% YoY Declining
Industry Rank10/100 · Weak
P/E 332.0 vs industry 63.2 Premium to peersROCE 0.3% vs industry 10.6% Below peersROE 0.3% vs industry 10.6% Below peers3Y sales CAGR: -100% 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, 2:38 am

Market Cap 76.4 Cr.
Current Price 73.4
Intrinsic Value₹11.80
High / Low 119/33.9
Stock P/E332
Book Value 33.9
Dividend Yield0.00 %
ROCE0.26 %
ROE0.26 %
Face Value 10.0
PEG Ratio-10.57

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

View Share Price Target for ASL Industries Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
ASL Industries Ltd 76.4 Cr. 73.4 119/33.9332 33.90.00 %0.26 %0.26 % 10.0
Tirupati Forge Ltd 534 Cr. 42.5 52.0/28.287.9 9.610.00 %12.4 %9.99 % 2.00
Bharat Forge Ltd 79,764 Cr. 1,668 1,936/91968.3 1960.51 %12.2 %11.6 % 2.00
Amic Forging Ltd 1,410 Cr. 1,312 1,750/1,06556.0 1390.00 %27.9 %21.8 % 10.0
Ramkrishna Forgings Ltd 9,119 Cr. 502 782/46040.8 1690.40 %6.84 %14.4 % 2.00
Industry Average12,169.30 Cr418.2163.21155.020.29%10.63%10.60%6.13

All Competitor Stocks of ASL Industries Ltd

Quarterly Result

MetricSep 2019Mar 2020Sep 2020Mar 2021Sep 2021Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025
Sales 8.894.537.243.220.957.25-0.00-0.00-0.00-0.00-0.00-0.00-0.00
Expenses 9.984.328.633.471.127.670.210.220.100.490.210.050.08
Operating Profit -1.090.21-1.39-0.25-0.17-0.42-0.21-0.22-0.10-0.49-0.21-0.05-0.08
OPM % -12.26%4.64%-19.20%-7.76%-17.89%-5.79%
Other Income 5.43-0.220.552.290.921.631.211.400.740.330.36-0.000.34
Interest 1.090.45-0.00-0.00-0.00-0.00-0.00-0.00-0.00-0.00-0.00-0.00-0.00
Depreciation 0.180.160.130.09-0.00-0.00-0.00-0.00-0.00-0.00-0.00-0.00-0.00
Profit before tax 3.07-0.62-0.971.950.751.211.001.180.64-0.160.15-0.050.26
Tax % -6.84%82.26%-27.84%44.10%32.00%15.70%25.00%25.42%25.00%-25.00%26.67%-60.00%-0.00%
Net Profit 3.27-1.13-0.701.090.511.010.750.880.48-0.120.11-0.030.26
EPS in Rs 3.14-1.08-0.671.050.490.970.720.840.46-0.120.11-0.030.25

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

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: December 15, 2025, 5:37 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 31.2544.7455.6656.4570.7667.2713.4210.468.15-0.02-0.190.000.00
Expenses 29.8541.3550.0648.5467.8565.3814.2912.108.740.410.570.270.13
Operating Profit 1.403.395.607.912.911.89-0.87-1.64-0.59-0.43-0.76-0.27-0.13
OPM % 4.48%7.58%10.06%14.01%4.11%2.81%-6.48%-15.68%-7.24%
Other Income 0.140.240.290.210.460.165.212.842.552.611.250.360.34
Interest 1.481.792.373.733.162.961.550.000.000.000.000.000.00
Depreciation 1.171.752.923.403.433.830.350.220.010.010.010.000.00
Profit before tax -1.110.090.600.99-3.22-4.742.440.981.952.170.480.090.21
Tax % -27.93%111.11%20.00%49.49%-31.06%-28.27%11.89%60.20%22.56%25.35%25.00%11.11%
Net Profit -0.790.000.480.49-2.22-3.402.150.391.511.630.360.090.23
EPS in Rs -19.580.006.300.64-2.13-3.262.060.371.451.560.350.090.22
Dividend Payout % 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)100.00%2.08%-553.06%-53.15%163.24%-81.86%287.18%7.95%-77.91%-75.00%
Change in YoY Net Profit Growth (%)0.00%-97.92%-555.14%499.91%216.39%-245.10%369.04%-279.23%-85.86%2.91%

ASL Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-100%
Compounded Profit Growth
10 Years:%
5 Years:15%
3 Years:-61%
TTM:-75%
Stock Price CAGR
10 Years:%
5 Years:58%
3 Years:20%
1 Year:-8%
Return on Equity
10 Years:-1%
5 Years:2%
3 Years:2%
Last Year:0%

Last Updated: September 4, 2025, 11:50 pm

Balance Sheet

Last Updated: April 8, 2026, 4:00 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 4.047.627.627.6210.4210.4210.4210.4210.4210.4210.4210.4210.42
Reserves 9.1117.5817.9818.4823.2619.7521.2321.1622.6724.3124.6124.6224.88
Borrowings 12.0421.3631.0433.0928.4226.02-0.00-0.00-0.00-0.00-0.00-0.00-0.00
Other Liabilities 5.119.6710.0512.1013.457.114.550.440.060.37-0.040.100.10
Total Liabilities 30.3056.2366.6971.2975.5563.3036.2032.0233.1535.1034.9935.1435.40
Fixed Assets 17.5232.9837.8737.5937.9340.492.730.030.030.020.02-0.00-0.00
CWIP 0.151.662.105.405.67-0.00-0.00-0.00-0.00-0.00-0.00-0.00-0.00
Investments 0.040.040.040.040.040.040.040.040.040.040.04-0.00-0.00
Other Assets 12.5921.5526.6828.2631.9122.7733.4331.9533.0835.0434.9335.1435.40
Total Assets 30.3056.2366.6971.2975.5563.3036.2032.0233.1535.1034.9935.1435.40

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 4.16-4.260.2613.15-2.424.62-17.24-4.25-0.690.36-0.30-0.02
Cash from Investing Activity + -0.45-18.84-5.49-6.44-3.76-0.8542.894.130.020.000.000.06
Cash from Financing Activity + -6.1023.545.88-7.245.98-4.23-24.960.000.000.000.000.00
Net Cash Flow -2.390.440.65-0.54-0.20-0.460.68-0.12-0.670.36-0.300.04
Free Cash Flow 3.57-22.93-8.176.65-6.313.8224.50-0.96-0.690.36-0.300.00
CFO/OP 298%-126%5%168%-77%244%1,982%240%117%-84%32%-19%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-10.64-17.97-25.44-25.18-25.51-24.13-0.87-1.64-0.59-0.43-0.76-0.27

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 11.6831.7435.1536.1439.4126.5397.64130.864.03-547.50-38.42
Inventory Days 136.30131.67178.21213.35172.40116.14281.740.000.000.000.00
Days Payable 46.5024.5076.33107.3690.3243.3812.20
Cash Conversion Cycle 101.48138.91137.03142.13121.4999.29367.17130.864.03-547.50-38.42
Working Capital Days 72.53-27.33-5.77-32.46-2.48-23.39715.041,062.201,465.82621,777.5066,756.58
ROCE %1.40%5.24%6.01%8.20%-0.35%-2.89%-0.75%-0.09%6.03%6.40%1.38%0.26%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2020Sep 2020Mar 2021Sep 2021Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025
Promoters 70.88%70.88%70.89%71.01%26.24%26.24%26.24%26.24%26.24%0.00%66.32%66.32%
Public 29.12%29.12%29.10%28.99%73.76%73.76%73.76%73.76%73.77%100.00%33.68%33.68%
No. of Shareholders 123886368949291101105104177174

Shareholding Pattern Chart

No. of Shareholders

ASL 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 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 0.080.341.571.450.33
Diluted EPS (Rs.) 0.080.341.571.450.33
Cash EPS (Rs.) 0.080.351.571.460.58
Book Value[Excl.RevalReserv]/Share (Rs.) 33.6433.6333.3431.7730.31
Book Value[Incl.RevalReserv]/Share (Rs.) 33.6433.6333.3431.7730.31
Revenue From Operations / Share (Rs.) 0.000.000.007.8710.04
PBDIT / Share (Rs.) 0.090.462.101.880.18
PBIT / Share (Rs.) 0.090.462.091.87-0.02
PBT / Share (Rs.) 0.090.462.091.870.94
Net Profit / Share (Rs.) 0.080.341.561.450.37
PBDIT Margin (%) 0.000.000.0023.881.82
PBIT Margin (%) 0.000.000.0023.81-0.23
PBT Margin (%) 0.000.000.0023.819.39
Net Profit Margin (%) 0.000.000.0018.473.74
Return on Networth / Equity (%) 0.241.024.694.571.24
Return on Capital Employeed (%) 0.261.376.275.90-0.07
Return On Assets (%) 0.241.024.644.561.22
Asset Turnover Ratio (%) 0.000.000.000.250.30
Current Ratio (X) 360.48-1093.0892.92502.9171.39
Quick Ratio (X) 360.48-1093.0892.92502.9171.39
Inventory Turnover Ratio (X) 0.000.000.000.002.92
Interest Coverage Ratio (X) 0.000.000.000.00166.13
Interest Coverage Ratio (Post Tax) (X) 0.000.000.000.00-535.55
Enterprise Value (Cr.) 40.4650.5626.8239.6816.09
EV / Net Operating Revenue (X) 0.000.000.004.841.54
EV / EBITDA (X) 429.97104.1012.2720.2684.28
MarketCap / Net Operating Revenue (X) 0.000.000.004.831.59
Price / BV (X) 1.151.440.771.200.52
Price / Net Operating Revenue (X) 0.000.000.004.831.59
EarningsYield 0.000.010.060.030.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

ASL Industries Ltd. is a Public Limited Listed company incorporated on 20/02/1992 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN) is L36900WB1992PLC099901 and registration number is 099901. Currently company belongs to the Industry of Forgings. Company's Total Operating Revenue is Rs. 0.00 Cr. and Equity Capital is Rs. 10.42 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Forgings7B, Punwani Chambers, 1st Floor, Kiran Shankar Ray Road, Kolkata West Bengal 700001Contact not found
Management
NamePosition Held
Mr. Kiran Dilip ThakoreChairman & Non-Exe.Director
Mr. Subhash Shankar GuravManaging Director & CFO
Mr. Dilip Kumar GoyalNon Executive Director
Ms. Anupriya SharmaInd. Non-Executive Director
Mr. Yatesh PoojaryInd. Non-Executive Director

FAQ

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

As of 14 April 2026, ASL Industries Ltd's intrinsic value is ₹11.80, which is 83.92% lower than the current market price of ₹73.40, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (0.26 %), book value (₹33.9), dividend yield (0.00 %), and 5-year EPS CAGR.

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

ASL Industries Ltd is trading at ₹73.40 as of 14 April 2026, with a FY2026-2027 high of ₹119 and low of ₹33.9. The stock is currently in the middle of its 52-week range. Market cap stands at ₹76.4 Cr..

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

ASL Industries Ltd has a P/E ratio of 332, which is above the industry average of 63.21. This significantly elevated P/E suggests the market expects strong future growth, or the stock may be overpriced relative to current earnings.

Is ASL Industries Ltd financially healthy?

Key indicators for ASL Industries Ltd: ROCE of 0.26 % is on the lower side compared to the industry average of 10.63%; ROE of 0.26 % is below ideal levels (industry average: 10.60%). Dividend yield is 0.00 %.

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

ASL Industries Ltd reported a net profit of ₹0 Cr in Mar 2025. Compared to ₹2 Cr in Mar 2022, the net profit shows a declining trend.

Does ASL Industries Ltd pay dividends?

ASL Industries Ltd has a dividend yield of 0.00 % at the current price of ₹73.40. 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 ASL 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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