ASHAPURMIN
Ashapura Minechem share price & financials
- Price
- ₹689.65
- Market cap
- ₹5.6k Cr
- Sector
- Metals & Mining
- Calls analysed
- 5
Ashapura Minechem Limited Q1 FY27
What went well
- Consolidated income from operations grew 19.2% YoY to INR 1,616 crores (Q1 FY27) from INR 1,356 crores (Q1 FY26).
- Bauxite EBITDA per ton improved to USD 6.3 (Q1 FY27) from USD 5.9 (Q4 FY26).
- Earnings per share (EPS) increased by 4.95% YoY to INR 12.07 (Q1 FY27) from INR 11.5 (Q1 FY26).
What to watch
- EBITDA margin compressed to 11.7% (Q1 FY27) from 13.8% (Q1 FY26) due to higher fuel, marine logistics, and input costs.
- Profit before tax (PBT) declined marginally by 1.4% YoY to INR 130.03 crores (Q1 FY27) from INR 131.84 crores (Q1 FY26).
What Ashapura Minechem Limited does
Ashapura Minechem mines, processes and markets a broad basket of industrial minerals — bauxite, bentonite, kaolin, bleaching clay, silica and iron ore — supplying industries such as aluminium smelting, foundries, drilling, cement, steel and infrastructure. In Guinea, West Africa, it mines and exports bauxite through three company-owned captive ports, including the newly commissioned ABB Boffa Port, under a long-term mining and logistics arrangement with China Railway. In India, it runs mineral processing operations out of Kutch (Gujarat) and Kerala, with group companies extending the business into specialty adsorbent solutions and ceramic raw materials.
Segments
- Bauxite (Guinea)
- Bentonite
- Kaolin
- Bleaching Clay
- Specialty Adsorbent Solutions
- Captive ports in Guinea
- 3, including the newly commissioned ABB Boffa Port
- Minerals mined/processed
- Bauxite, Bentonite, Kaolin, Bleaching Clay, Silica, Iron Ore
- India processing plant locations
- 3 units — Paddhar & Mamuara (Taluka Bhuj, Dist. Kutch, Gujarat) and Thiruvananthapuram (Kerala)
- Overseas mining geography
- Guinea, West Africa (bauxite)
- Key subsidiaries/associates
- Ashapura International Ltd. (iron ore & bentonite exports), Ashapura Perfoclay Ltd. (specialty adsorbents), Bombay Minerals Ltd., AQ Minerals Pvt. Ltd., Orient Ceratech Ltd. (ceramics, associate)
- Strategic mining & logistics partner (Guinea)
- China Railway (Global Fortune 500 company) — long-term arrangement
Guidance record · Q1 FY27
what the last two calls moved 15 tracked 2 delivered 4 missed 9 open- Quarterly Disclosures delivered said Q1 FY26 Promised: Going forward our disclosures will include quarterly volumes of bauxite from Guinea and division wise details. Q1 FY27: Continued providing segment breakdowns and quarterly bauxite volumes.
- Bauxite Export Volume went quiet said Q1 FY26 Promised: Target is to export 15 million tons of bauxite by FY27-28. Q1 FY27: The 15 MMT by FY28 target was not mentioned for bauxite. A similar target of 15 MMT by FY28 was instead given for Iron Ore, suggesting a potential shift or replacement of the original bauxite goal.
- Guinea Port Capacity revised down said Q1 FY26 Promised: Reach 27 million metric tons of port capacity by quarter one FY27. Q1 FY27: Target revised down to a combined capacity of 23 MMT in the medium term. Boffa port capacity increased to 8 MMT (from 5 MMT), and GSM port expansion to 10 MMT is targeted for Q4 FY27.
All 15 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 19.2%, net profit down 5.3% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 604 | 865 | 555 | 1,356 | 952 +58% | 960 +11% | 1,969 +255% | 1,616 +19% |
| EBITDA | 64 | 135 | 84 | 182 | 131 +105% | 114 −16% | 128 +52% | 181 −1% |
| Net profit | 43 | 108 | 79 | 114 | 106 +147% | 76 −30% | 121 +53% | 108 −5% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −10.2% 1Y
1Y: ₹604.6 on 10 Sept 2025 → ₹542.9. High ₹902.45 (7 Jan 2026), low ₹459.5 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −1.1%
- 19 Aug
- Q4 FY26
- +2.5%
- 4 Jun
- Q3 FY26
- −1.2%
- 11 Feb
- Q2 FY26
- −2.1%
- 21 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 41.9% a year over 3 years, FY23 to FY26. Operating margin widened to 10.6%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1.8k Cr | ₹2.7k Cr | ₹2.7k Cr | ₹5.2k Cr |
| Operating profit | ₹173 Cr | ₹246 Cr | ₹370 Cr | ₹555 Cr |
| Operating margin | 9.4% | 9.0% | 13.5% | 10.6% |
| Interest | ₹64 Cr | ₹70 Cr | ₹89 Cr | ₹118 Cr |
| Depreciation | ₹73 Cr | ₹78 Cr | ₹78 Cr | ₹133 Cr |
| Net profit | ₹110 Cr | ₹281 Cr | ₹290 Cr | ₹417 Cr |
| Net margin | 6.0% | 10.3% | 10.6% | 8.0% |
| Cash from operations | ₹97 Cr | ₹148 Cr | ₹188 Cr | ₹463 Cr |
| Free cash flow | ₹-36 Cr | ₹-125 Cr | ₹-208 Cr | ₹184 Cr |
| ROCE | 16.0% | 17.0% | 19.0% | 21.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹17 Cr | ₹18 Cr | ₹18 Cr | ₹18 Cr | ₹19 Cr | ₹19 Cr |
| Reserves | ₹417 Cr | ₹503 Cr | ₹646 Cr | ₹912 Cr | ₹1.4k Cr | ₹1.6k Cr |
| Borrowings | ₹664 Cr | ₹639 Cr | ₹758 Cr | ₹984 Cr | ₹1.2k Cr | ₹1.4k Cr |
| Other liabilities | ₹1.1k Cr | ₹1.3k Cr | ₹1.6k Cr | ₹1.4k Cr | ₹1.5k Cr | ₹1.6k Cr |
| Total liabilities | ₹2.2k Cr | ₹2.4k Cr | ₹3.0k Cr | ₹3.3k Cr | ₹4.2k Cr | ₹4.7k Cr |
| Fixed assets | ₹527 Cr | ₹539 Cr | ₹584 Cr | ₹577 Cr | ₹1.3k Cr | ₹1.5k Cr |
| Capital work in progress | ₹204 Cr | ₹254 Cr | ₹262 Cr | ₹504 Cr | ₹72 Cr | ₹51 Cr |
| Investments | ₹290 Cr | ₹268 Cr | ₹288 Cr | ₹321 Cr | ₹363 Cr | ₹371 Cr |
| Other assets | ₹1.2k Cr | ₹1.4k Cr | ₹1.9k Cr | ₹1.9k Cr | ₹2.4k Cr | ₹2.8k Cr |
| Total assets | ₹2.2k Cr | ₹2.4k Cr | ₹3.0k Cr | ₹3.3k Cr | ₹4.2k Cr | ₹4.7k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public trimmed −3.23 pp while FIIs added +2.80 pp. The shareholder count grew 42% to 47,193.
- Promoters
- 48.0%
- FIIs
- 19.2%
- DIIs
- 0.4%
- Public
- 32.3%
Since Jun 2025
- Public −3.23 pp
- FIIs +2.80 pp
- Promoters +0.28 pp
How it drifted, 12 quarters
Over this window the public fell from 36.4% to 32.3% — −4.1 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 45.3%, FIIs 18.0%, DIIs 0.2%, Public 36.4%.Dec '23: Promoters 45.3%, FIIs 17.6%, DIIs 0.2%, Public 36.9%.Mar '24: Promoters 45.4%, FIIs 17.2%, DIIs 0.5%, Public 36.9%.Jun '24: Promoters 45.4%, FIIs 16.4%, DIIs 0.5%, Public 37.7%.Sep '24: Promoters 47.7%, FIIs 15.7%, DIIs 0.1%, Public 36.4%.Dec '24: Promoters 47.7%, FIIs 16.0%, DIIs 0.1%, Public 36.1%.Mar '25: Promoters 47.8%, FIIs 16.6%, DIIs 0.4%, Public 35.3%.Jun '25: Promoters 47.8%, FIIs 16.4%, DIIs 0.3%, Public 35.6%.Sep '25: Promoters 47.8%, FIIs 18.0%, DIIs 0.3%, Public 33.8%.Dec '25: Promoters 47.9%, FIIs 19.3%, DIIs 0.4%, Public 32.5%.Mar '26: Promoters 48.0%, FIIs 19.5%, DIIs 0.3%, Public 32.1%.Jun '26: Promoters 48.0%, FIIs 19.2%, DIIs 0.4%, Public 32.3%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Ashapura Minechem Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Ashapura Industrial Finance Limited | 17.75% | unchanged |
| Dina Chetan Shah | 9.63% | unchanged |
| Chetan Navnitlal Shah | 6.94% | unchanged |
| Chaitali Nishit Salot Family Trust | 5.85% | unchanged |
| Eriska Investment Fund Ltd FPI fund | 4.62% | unchanged |
| Manan Chetan Shah | 4.35% | unchanged |
| Albula Investment Fund Ltd FPI fund | 4.08% | unchanged |
| Griffin Growth Fund Vcc FPI fund | 3.63% | unchanged |
| Manan Chetan Shah Family Trust | 1.75% | unchanged |
| Chaitali Nishit Salot | 1.34% | unchanged |
| Himani Chetan Shah | 0.15% | unchanged |
| Late Navnital Ratanji Shah | 0.14% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (5)
Read the Q1 FY27 call →Learn to analyse Ashapura Minechem Limited
Guides on how to read this kind of business and the numbers that matter.