NSE: ASHAPURMIN · BSE: 527001 · ISIN INE348A01023
Ashapura Minechem Limited stock analysis
Ashapura Minechem Limited ranks #970 in the TickerSutra evidence-ranked universe with a score of 58/100 and 95% data confidence. The latest captured fundamentals show ROCE of 20.7%, quarterly sales growth of 19.2% and quarterly profit growth of 5.0%.Monitor only
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- ROCE is 20.7%
- Strong CFO/EBITDA of 0.83×
- 41.9% three-year sales CAGR
- Institutional ownership is rising
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- Debt/equity is above 0.5×
- Operating margin has compressed materially
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹1,278cr | ₹102cr | ₹87cr | 8.0% |
| 2023 | ₹1,831cr | ₹178cr | ₹110cr | 10.0% |
| 2024 | ₹2,654cr | ₹252cr | ₹282cr | 10.0% |
| 2025 | ₹2,739cr | ₹377cr | ₹289cr | 14.0% |
| 2026 | ₹5,237cr | ₹555cr | ₹416cr | 11.0% |
| TTM | ₹5,498cr | ₹554cr | ₹411cr | 10.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Ashapura Minechem Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
RoutineAshapura Minechem Ltd - 527001 - Disclosures under Reg. 10(7) of SEBI (SAST) Regulations, 2011BSE · 22 Sept 2026The Exchange has received the disclosure under Regulation 10(7) in respect of acquisition under Regulation 10(1)(a)(i)of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, ....
RoutineCopy of Newspaper PublicationNSE · 22 Sept 2026Ashapura Minechem Limited has informed the Exchange about Copy of Newspaper Publication - Newspaper Advertisement pertaining to loss of share certificate
RoutineAshapura Minechem Ltd - 527001 - Announcement under Regulation 30 (LODR)-Newspaper PublicationBSE · 22 Sept 2026Newspaper Advertisement pertaining to loss of share certificate
RoutineGeneral UpdatesNSE · 21 Sept 2026Ashapura Minechem Limited has informed the Exchange about General Updates
MANAGEMENT COMMENTARY
Signals from filed documents
Actual results could differ materially from those expressed or implied. Important factors that could make a difference to the Company’s operations include global and Indian demand-supply conditions, finished goods prices, raw material cost and availability, changes in government regulations, tax regimes, economic developments within India and the countries in which the Company conducts business, and other factors suc
FY2026 EBITDA increased to ` 674 Crore from ` 445 Crore in FY2025, reflecting a 51.5% YoY growth, while the EBITDA margin stood at 12.9% (vs. Although margins moderated due to lower bauxite realizations, elevated ocean freight, fuel costs and higher taxes in Guinea, the substantial increase in export volumes and improved operating leverage supported strong absolute EBITDA growth. Profit After Tax attributable to shar
AML will continue to invest in decarbonising its production footprint, enhancing traceability and provenance documentation for global customers, and expanding BRSR and sustainability disclosures to meet evolving international reporting standards including ISSB IFRS S1/S2 frameworks. The Board of Directors and Management are confident that the Company’s unique combination of geological assets, global operational footp
Natural hedge from USD revenues against USD-linked raw material procurement costs; selective forward contracts for near-term exposures. Customer Concentration Risk Chinese alumina refining sector is a significant bauxite customer; any structural demand softening from China could materially impact volumes. Expanding customer diversity into Japanese, Korean, Southeast Asian, and Gulf aluminium producers; developing Ind
The Company also expanded its business footprint across domestic and international markets through the introduction of new products and customer additions. The specialty products division continued to gain traction, particularly in the Gulf region and other key markets. The Board remains confident that these initiatives will support sustained growth and create long-term value for stakeholders.
We will still require a couple of quarters to offer any long terms direction. We remain confident in our ability to achieve or even cross our guidance of 15 million tons by financial year ’28. We continue to work on our initiatives to increase our volumes, improve operational efficiencies, reduce cost and enhance the profitability of our bauxite business.
OPERATIONAL HIGHLIGHTS During FY2026, the Company delivered strong operational performance, particularly in its Guinea bauxite operations, with exports increasing significantly year-on-year and supporting consolidated earnings. The Company continues to strengthen its resource base and backward integration through additional mining leases and is undertaking capex across its India operations to enhance capacity and inc
The mining division achieved a production increase of over 25%, strengthening operational resilience during seasonal disruptions. The Company also expanded its business footprint across domestic and international markets through the introduction of new products and customer additions. The specialty products division continued to gain traction, particularly in the Gulf region and other key markets.
Milan Deep Jain: Thank you so much for the opportunity, sir. My first question is around the Boffa port capacity expansion... Moderator: Milan Deep, I'm really sorry but your voice is muffling.
The latest standards have been accessed at https://sasb.ifrs.org/ on 10.08.2026 at 3:21PM. 70 Ashapura Minechem Limited 4 Water Management Risk While water scarcity and quality present genuine operational considerations for the industry, the Company views efficient water management as an opportunity to lower operating costs and strengthen its standing with local communities and regulators. Technologies such as water
Surekha Sathe as Independent Woman Director; Shri Jagdish Shetty (DIN:02152377) as Non-Executive Independent Director of the Company; and Shri Wilson Mathais (DIN: 11492508) as Non-Executive Independent Director of the Company. Obtained approval from its Members at the 44th Annual General Meeting of the Company held on 24th September, 2025 for- o Declaration of final dividend of 50% i.e. One) per Equity Share of the
The facility of participation at the AGM through VC/OAVM will be made available to at least 1000 members on first come first served basis. This will not include large Shareholders (Shareholders holding 2% or more shareholding), Promoters, Institutional Investors, Directors, Key Managerial Personnel, the Chairpersons of the Audit Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee,
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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