Ashapura Minechem Ltd (ASHAPURMIN) AI Stock Analysis

Ashapura Minechem Ltd

(NSE:ASHAPURMIN)

Select Model

Rating:61Neutral

Price Target:INR 461.00▲(12.71% Upside)

Action:reiterated

Date:10/22/26

The score is driven primarily by solid financial performance (strong growth and improved profitability, tempered by leverage and historically weak/volatile free cash flow) and supportive valuation (low P/E). These positives are partially offset by weak technicals, with the stock trading below key moving averages and negative momentum indicators.

Positive Factors

Strong Revenue GrowthSharp multi-year revenue growth indicates expanding demand for Ashapura Minechem’s industrial mineral products and stronger market activity. Continued top-line expansion can support operating scale, broaden customer reach, and provide a durable base for further earnings growth over the next several quarters.

Negative Factors

Meaningful LeverageDebt close to equity leaves the company more exposed to weaker industrial-material conditions and can constrain financial flexibility. Rising absolute debt may increase funding and repayment demands, limiting the capital available for expansion or shareholder returns if operating performance softens.

Ashapura Minechem Ltd (ASHAPURMIN) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 52.37B
Dividend Yield: 0.49%
Average Volume (3M): 85.86K
Price to Earnings (P/E): 9.6
Beta (1Y): 1.55
Revenue Growth: 62.64%
EPS Growth: 17.34%
Country: India
Employees: 1,574
Sector: General
Sector Strength: 55
Industry: Industrial Materials

Ashapura Minechem Ltd Business Overview & Revenue Model

Company Description

Ashapura Minechem Limited operates as a global producer and distributor, specializing in bentonite and bauxite. The company provides a full suite of bentonite services, encompassing mining, processing, and logistics, catering to a wide array of secto...

Ashapura Minechem Ltd Financial Statement Overview

Summary

Strong revenue growth and improving net income support a solid fundamental profile, but the overall quality is held back by meaningful leverage (debt near equity) and a volatile cash-flow history with multiple years of negative free cash flow despite a positive inflection in 2026.

Income Statement

78Positive

Balance Sheet

62Positive

Cash Flow

48Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	54.98B	52.37B	27.39B	26.20B	17.97B	12.78B
Gross Profit	38.74B	35.69B	19.54B	18.73B	10.96B	9.06B
EBITDA	5.80B	6.95B	4.45B	4.06B	2.59B	1.97B
Net Income	4.07B	4.01B	2.96B	2.87B	1.17B	865.17M
Balance Sheet
Total Assets	0	46.98B	39.31B	33.11B	30.32B	24.24B
Cash, Cash Equivalents and Short-Term Investments	3.29B	3.29B	1.12B	1.45B	696.60M	329.71M
Total Debt	0	14.44B	11.63B	9.84B	7.58B	6.39B
Total Liabilities	-16.45B	30.53B	27.08B	23.93B	23.75B	19.03B
Stockholders Equity	16.45B	16.49B	12.42B	9.30B	6.65B	5.21B
Cash Flow
Free Cash Flow	1.48B	1.50B	-2.32B	-1.84B	-366.86M	-339.42M
Operating Cash Flow	2.22B	4.30B	1.69B	1.48B	973.02M	1.14B
Investing Cash Flow	-756.40M	-2.65B	-4.02B	-2.74B	-1.30B	-629.40M
Financing Cash Flow	423.70M	422.30M	2.08B	1.91B	795.89M	-604.10M

Ashapura Minechem Ltd Technical Analysis

Technical Analysis SentimentNegative

Last Price409.00

Price Trends

50DMA510.02Negative

100DMA593.11Negative

200DMA605.70Negative

Market Momentum

MACD-28.74Positive

RSI24.86Positive

STOCH19.79Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ASHAPURMIN, the sentiment is Negative. The current price of 409.00 is below the 20-day moving average (MA) of 456.92, below the 50-day MA of 510.02, and below the 200-day MA of 605.70, indicating a bearish trend. The MACD of -28.74 indicates Positive momentum. The RSI at 24.86 is Positive, neither overbought nor oversold. The STOCH value of 19.79 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ASHAPURMIN.

Ashapura Minechem Ltd Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:ASHAPURMIN against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:HINDZINC	76Outperform	INR 2.14T	10.26	―	2.17%	56.86%	97.18%
IN:VEDL	72Outperform	INR 928.72B	4.31	―	6.76%	-37.34%	79.21%
IN:ASHAPURMIN	61Neutral	INR 39.07B	9.59	―	0.49%	62.64%	17.34%
IN:JAIBALAJI	60Neutral	INR 56.40B	38.94	―	―	2.00%	-65.57%
IN:IMFA	59Neutral	INR 58.87B	11.23	―	1.14%	23.64%	46.48%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:MOIL	55Neutral	INR 43.49B	14.34	―	3.25%	5.78%	8.12%

* General Sector Average

Performance Comparison

IN:ASHAPURMIN and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:ASHAPURMIN	Ashapura Minechem Ltd	409.00	-263.37	-39.17%
IN:HINDZINC	Hindustan Zinc Limited	505.50	33.52	7.10%
IN:IMFA	Indian Metals & Ferro Alloys Ltd.	1091.10	-106.25	-8.87%
IN:JAIBALAJI	Jai Balaji Industries Limited	61.82	-32.88	-34.72%
IN:MOIL	Moil Limited	213.75	-150.56	-41.33%
IN:VEDL	Vedanta Limited	237.50	51.68	27.81%

Ashapura Minechem Ltd Corporate Events

Ashapura Minechem Publishes Disclosure on Lost Share Certificates

Sep 22, 2026

Ashapura Minechem Ltd has notified the stock exchanges that it has published a newspaper advertisement regarding the loss of equity share certificates belonging to registered shareholders, in line with SEBI’s Listing Regulations and a recent SE...

Ashapura Minechem Publishes Q1 & FY2027 Earnings Call Transcript

Aug 24, 2026

Ashapura Minechem Ltd has released the official transcript of its Q1 and FY2027 earnings conference call held on 19 August 2026, complying with disclosure requirements under SEBI Listing Regulations. The transcript, which features remarks from key me...

Ashapura Minechem publishes Q1 FY27 financial results extract in newspapers

Aug 9, 2026

Ashapura Minechem Ltd has notified the stock exchanges that it has published an extract of its financial results for the quarter ended 30 June 2026 in The Free Press Journal and Navshakti newspapers, in line with regulatory disclosure requirements. T...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 22, 2026

Ashapura Minechem Ltd AI Stock Analysis