Ashapura Group company making refractory & ceramic products and ceramic proppants for oil & gas wells, with captive wind and thermal power generation.
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| Line item | FY11 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
| Reserves | 172 | 236 | 248 | 264 | 271 | 280 | 290 |
| Borrowings | 92 | 38 | 15 | 58 | 72 | 47 | 40 |
| Other Liabilities | 59 | 56 | 52 | 73 | 63 | 73 | 74 |
| Total Liabilities | 335 | 341 | 327 | 406 | 418 | 412 | 416 |
| AssetsFixed Assets | 140 | 147 | 149 | 160 | 150 | 168 | 152 |
| CWIP | 16 | 1 | 2 | 5 | 26 | 2 | 9 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 178 | 193 | 176 | 241 | 242 | 242 | 255 |
| Total Assets | 335 | 341 | 327 | 406 | 418 | 412 | 416 |
| Line item | FY11 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 43 | 32 | 44 | -14 | 21 | 51 |
| Cash from Investing | -37 | -34 | -13 | -24 | -23 | -8 |
| Cash from Financing | -5 | 2 | -28 | 37 | 4 | -40 |
| SummaryCapital Expenditure | — | — | — | — | — | — |
| Free Cash Flow | 6 | -6 | 29 | -37 | -4 | 43 |
| FCF Margin | — | — | — | — | — | — |
The Earnings Per Share over the last 12 months.
Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).
Pre-filled with the lower of median (29.9×) and current (28.9×) PE — the conservative anchor.
The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.
At 6% growth and a 29× exit, ₹41 only delivers your return if you pay ₹23. The price is currently baking in 17% growth.
EPS grows 6%/yr for 5 years, then fades to 6% over 2, exits at 29×.
| Year | Growth | EPS (₹) |
|---|---|---|
| FY27 | 6.0% | 1.51 |
| FY28 | 6.0% | 1.60 |
| FY29 | 6.0% | 1.69 |
| FY30 | 6.0% | 1.79 |
| FY31 | 6.0% | 1.90 |
| FY32 | 6.0% ·fade | 2.01 |
| FY33 | 6.0% ·fade | 2.14 |
Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.
Guides on how to read this kind of business and the numbers that matter.