Ashapura Minechem Ltd (ASHAPURMIN) AI Stock Analysis

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Ashapura Minechem Ltd

(NSE:ASHAPURMIN)

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Rating:67Neutral

Price Target:INR 474.00▲(14.15% Upside)

Action:reiterated

Date:10/22/26

Strong financial growth and an attractive P/E ratio are the main strengths. These are offset by leveraged finances, historically uneven cash conversion, and clearly weak technical momentum. The resulting score is 67.

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 38.38B
Dividend Yield: 0.48%
Average Volume (3M): 71.45K
Price to Earnings (P/E): 11.0
Beta (1Y): 1.31
Revenue Growth: 50.41%
EPS Growth: -9.15%
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 and earnings growth support the score, but leverage remains meaningful and historical free cash flow has been volatile despite recent improvement.

Income Statement

88Very Positive

Balance Sheet

72Positive

Cash Flow

60Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	56.09B	52.37B	27.39B	26.20B	17.97B	12.78B
Gross Profit	39.29B	35.69B	19.54B	18.73B	10.96B	9.06B
EBITDA	5.73B	6.95B	4.45B	4.06B	2.59B	1.97B
Net Income	3.62B	4.01B	2.96B	2.87B	1.17B	865.17M
Balance Sheet
Total Assets	47.78B	46.98B	39.31B	33.11B	30.32B	24.24B
Cash, Cash Equivalents and Short-Term Investments	4.08B	3.29B	1.12B	1.45B	696.60M	329.71M
Total Debt	14.25B	14.44B	11.63B	9.84B	7.58B	6.39B
Total Liabilities	29.70B	30.53B	27.08B	23.93B	23.75B	19.03B
Stockholders Equity	18.01B	16.49B	12.42B	9.30B	6.65B	5.21B
Cash Flow
Free Cash Flow	0	1.50B	-2.32B	-1.84B	-366.86M	-339.42M
Operating Cash Flow	0	4.30B	1.69B	1.48B	973.02M	1.14B
Investing Cash Flow	0	-2.65B	-4.02B	-2.74B	-1.30B	-629.40M
Financing Cash Flow	0	422.30M	2.08B	1.91B	795.89M	-604.10M

Ashapura Minechem Ltd Technical Analysis

Technical Analysis SentimentNegative

Last Price415.25

Price Trends

50DMA483.66Negative

100DMA571.30Negative

200DMA588.28Negative

Market Momentum

MACD-21.72Negative

RSI33.70Neutral

STOCH13.96Positive

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 415.25 is below the 20-day moving average (MA) of 431.18, below the 50-day MA of 483.66, and below the 200-day MA of 588.28, indicating a bearish trend. The MACD of -21.72 indicates Negative momentum. The RSI at 33.70 is Neutral, neither overbought nor oversold. The STOCH value of 13.96 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 2.40T	11.25	―	1.98%	56.86%	97.18%
IN:MOIL	74Outperform	INR 45.01B	15.15	―	2.61%	3.21%	-2.11%
IN:VEDL	72Outperform	INR 1.02T	4.71	―	6.18%	-37.34%	79.21%
IN:IMFA	69Neutral	INR 59.42B	10.27	―	1.14%	32.06%	73.89%
IN:ASHAPURMIN	67Neutral	INR 39.26B	10.96	―	0.48%	50.41%	-9.15%
IN:JAIBALAJI	62Neutral	INR 61.22B	31.12	―	―	10.75%	-33.31%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* 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	415.25	-293.03	-41.37%
IN:HINDZINC	Hindustan Zinc Limited	554.30	79.18	16.67%
IN:IMFA	Indian Metals & Ferro Alloys Ltd.	1094.50	-214.22	-16.37%
IN:JAIBALAJI	Jai Balaji Industries Limited	66.10	-18.03	-21.43%
IN:MOIL	Moil Limited	219.60	-127.07	-36.65%
IN:VEDL	Vedanta Limited	259.65	70.99	37.63%

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 SEBI cir...

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