Ashapura

Mumbai, India Founded: 1960 • Age: 66 yrs Listed
Multi-mineral solutions are provided to industrial sectors.
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About Ashapura

Ashapura is a publicly listed company based in Mumbai (India) founded in 1960. Multi-mineral solutions are provided to industrial sectors. It operates on a Reseller / Distribution and Direct-to-Consumer (D2C) model. The company has 2,220 employees. Its website ashapura.com draws about 15 thousand monthly visits. Its Indian entity Ashapura Minechem Ltd reported revenue of ₹5,382 Cr. Ashapura offers products and services including Bentonite, Bauxite, Kaolin, and Bleaching Clay. Its focus areas include Mining, Industrial Minerals, Bentonite and Bauxite and Manufacturing.

Company details

Ashapura is established as a prominent provider of multi-mineral solutions with a global presence across India and seven other countries. Operations are focused on mining, processing, and exporting industrial minerals such as Bentonite, Bauxite, and Kaolin. Solutions are offered across diverse sectors including soaps, steel, energy, edible oils, metal, medicine, cement, and ceramics. Emphasis is placed on sustainable practices to minimize environmental impact while enriching natural mineral resources in harmony with society. Innovation is supported through a dedicated Knowledge and Innovation Centre in Gujarat, housing advanced geo-mineral laboratories.

  • Headquarters Mumbai, India
  • Employees 2,220
  • Stage Public
  • Sectors
    Natural Resources
  • Email
    ••••••••
  • Phone
    •••• ••••
  • Website ashapura.com
  • Social LinkedIn
  • Legal Name Ashapura Minechem Ltd
Operational Areas
Natural Resources → Mining Companies
Key Metrics
  • Market Cap
    ₹4,089 Cr

    ASHAPURMIN · NSE

  • Share Price
    ₹408.65

    -4.54% today

  • Revenue
    ₹5,237 Cr

    FY 2025-26 · +91.2% YoY

  • EBITDA
    ₹550 Cr

    Margin 10.5%

  • Net Profit
    ₹406 Cr

    FY 2025-26 · +37.6% YoY

  • P/E (TTM)
    10.0x

    P/B 2.5x

  • Employee Count
    2,220

Products & Services of Ashapura

Ashapura offers a comprehensive portfolio of products and services, including Bentonite, Bauxite, Kaolin, and Bleaching Clay.

Bentonite
Industrial Functional Minerals

Bentonite is processed for various industrial applications worldwide.

Bauxite
Industrial Functional Minerals

Bauxite is exported globally for industrial manufacturing purposes.

Kaolin
White Performance Minerals

Kaolin is provided for diverse industrial and manufacturing uses.

Bleaching Clay
Adsorbent Solutions

Bleaching Clay is used in refining and purification processes.

Board of directors of Ashapura Minechem Ltd (Ashapura)

Ashapura Minechem Ltd is the primary company behind Ashapura. The board of Ashapura Minechem Ltd currently have 7 directors; the longest-serving is Chetan Navnitlal Shah, appointed in 1982. 21 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Chetan Navnitlal Shah
DIN 00018960
Director19 Feb 198244 yrs 8 moAshapura Minechem Ltd
Himani Chetan Shah
DIN 02467277
Director10 Feb 20206 yrs 8 moAshapura Minechem Ltd
Hemul Ramesh Shah
DIN 00058558
Whole-time director30 Dec 20205 yrs 9 moAshapura Minechem Ltd
Dipak Kirchandbhai Vora
DIN 00317106
Director23 Jan 20251 yr 9 moAshapura Minechem Ltd
Surekha Umesh Sathe
DIN 11109425
Director30 May 20251 yr 5 moAshapura Minechem Ltd
Jagdish Bhoja Shetty
DIN 02152377
Director05 Feb 20268 moAshapura Minechem Ltd
Wilson Mathais
DIN 11492508
Director05 Feb 20268 moAshapura Minechem Ltd

IPO & Listings of Ashapura

Ashapura is a publicly listed company on the NSE with ticker symbol ASHAPURMIN in India, operating in the Non-energy minerals sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • IPO date20 Sep 1995
  • Listed onBSE: 527001 · NSE: ASHAPURMIN
  • Listed entityAshapura Minechem Ltd
  • Exchange sectorNon-energy minerals
  • ISININE348A01023
  • Share price₹484.95 (+0.57% on the day) · 2026-10-14
  • Market capitalisation₹4,610 Cr
  • Price to earnings11.4
  • EPS (diluted, trailing year)₹42.59
  • Dividend yield0.41%
  • Volume (last session)352,720

Financials of Ashapura

Exchange-reported figures of Ashapura Minechem Ltd, the listed company behind Ashapura (NSE: ASHAPURMIN).

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹5,237 Cr
+91.2% YoY
EBITDA
₹550 Cr
+45.9% YoY
Profit After Tax
₹406 Cr
+37.6% YoY
Net Worth
₹1,649 Cr
+32.8% YoY
Total Assets
₹3,219 Cr
+27.3% YoY
Total Debt
₹1,444 Cr
+24.1% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue5,2372,7392,6541,8311,2781,148334
Revenue growth+91.2%+3.2%+45.0%+43.3%+11.3%+243.4%-
EBITDA550377249176102122(57.14)
EBITDA margin+10.5%+13.8%+9.4%+9.6%+8.0%+10.7%-17.1%
Profit before tax44530430913997.78110382
Net profit40629519911971.7067.72(73.36)
Net profit margin+7.8%+10.8%+7.5%+6.5%+5.6%+5.9%-21.9%
EPS (₹)42.0230.9731.3712.799.4610.0644.57
Balance sheet
Total assets3,2192,5282,0641,7241,4021,3681,118
Net worth1,6491,242930665521434346
Total debt1,4441,163984758639664441
Cash & bank32912214578.1932.9744.2946.56
Net working capital1,10963159451126526667.59
Cash flow
Cash from operations46318914897.30114(19.98)15.74
Cash from investing(271)(392)(274)(130)(62.94)(168)(156)
Cash from financing14.1817819179.59(60.41)182131
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue1,6161,9699609521,356555865604
Revenue growth (YoY)+19.2%+254.6%+11.0%+57.7%+89.8%---
Other income14.3287.9632.5711.9212.4456.0913.8110.20
EBITDA18112811013118284.4513564.07
EBITDA margin+11.2%+6.5%+11.4%+13.7%+13.4%+15.2%+15.5%+10.6%
Depreciation36.7235.4133.6532.1631.5029.3812.0719.68
Interest28.8733.8123.9529.2230.8929.6523.2819.02
Profit before tax13014784.7681.2213281.5111335.57
Tax21.7326.138.81(24.76)17.945.7811.87(7.05)
Net profit10812175.9510611475.7310142.62
EPS (₹)12.0711.598.8210.1111.509.0811.154.92
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue432372333223598421206
Revenue growth+16.3%+11.5%+49.6%-62.8%+41.9%+104.8%-
EBITDA13573.1285.98(7.61)7.9080.03(304)
EBITDA margin+31.2%+19.7%+25.8%-3.4%+1.3%+19.0%-147.7%
Profit before tax15271.68151(5.82)(15.65)65.88393
Net profit15684.5791.59(4.90)(15.99)36.52(64.59)
Net profit margin+36.2%+22.8%+27.5%-2.2%-2.7%+8.7%-31.4%
EPS (₹)16.198.8518.19(0.77)(1.71)6.4045.22
Balance sheet
Total assets629526401393339400404
Net worth45831320034.6036.5751.69(3.35)
Total debt55.8677.5044.7154.7868.4685.5893.18
Cash & bank57.7528.4421.3527.6212.9317.0421.72
Net working capital39929719417785.75161132
Cash flow
Cash from operations74.85(34.01)(12.88)38.1441.4940.13(0.98)
Cash from investing(4.80)(14.26)32.770.67(2.29)4.32(14.67)
Cash from financing(42.71)53.59(26.84)(27.17)(40.74)(51.35)14.88
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue11111812187.0510612396.8574.32
Revenue growth (YoY)+4.4%-4.0%+25.2%+17.1%+36.5%---
Other income5.0216.215.2813.613.651.926.454.78
Total expenses77.4473.1094.7165.1364.5210577.5362.14
EBITDA33.1944.6926.5721.9241.5017.9019.3212.18
EBITDA margin+30.0%+37.9%+21.9%+25.2%+39.1%+14.6%+19.9%+16.4%
Depreciation2.422.452.442.542.452.252.172.16
Interest2.312.653.003.062.921.081.882.04
Profit before tax33.4855.8026.4129.9339.7816.4921.7212.76
Tax8.7014.697.22(34.62)9.98(3.84)(4.31)(1.44)

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 30 Oct 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue1,6161,9699609521,356555865604
Revenue growth (YoY)+19.2%+254.6%+11.0%+57.7%+89.8%---
Other income14.3287.9632.5711.9212.4456.0913.8110.20
EBITDA18112811013118284.4513564.07
EBITDA margin+11.2%+6.5%+11.4%+13.7%+13.4%+15.2%+15.5%+10.6%
Depreciation36.7235.4133.6532.1631.5029.3812.0719.68
Interest28.8733.8123.9529.2230.8929.6523.2819.02
Profit before tax13014784.7681.2213281.5111335.57
Tax21.7326.138.81(24.76)17.945.7811.87(7.05)
Net profit10812175.9510611475.7310142.62
EPS (₹)12.0711.598.8210.1111.509.0811.154.92
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue5,2372,7392,6541,8311,2781,148334
Revenue growth+91.2%+3.2%+45.0%+43.3%+11.3%+243.4%-
Other income14510121510411292.75499
Total expenses4,6872,3622,4051,6551,1761,026391
Employee cost0.0015712110395.6482.1738.42
EBITDA550377249176102122(57.14)
EBITDA margin+10.5%+13.8%+9.4%+9.6%+8.0%+10.7%-17.1%
Depreciation13377.9878.6372.5658.1344.9628.39
Interest11896.2375.9967.8757.8659.9631.14
Profit before tax44530430913997.78110382
Tax28.1115.3926.9729.7311.2622.66(1.03)
Net profit40629519911971.7067.72(73.36)
Net profit margin+7.8%+10.8%+7.5%+6.5%+5.6%+5.9%-21.9%
EPS (₹)42.0230.9731.3712.799.4610.0644.57
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital19.1119.1118.3018.3018.3017.4017.40
Reserves & surplus1,6301,223902637503413325
Shareholders' funds (net worth)1,6491,242930665521434346
Minority interest(4.46)(19.51)(12.77)(7.47)(0.20)(0.21)(0.21)
Secured loans905750830646570635135
Unsecured loans53941315411169.3529.13306
Total debt1,4441,163984758639664441
Total liabilities3,2192,5282,0641,7241,4021,3681,118
Assets
Gross block2,7032,2871,4391,3811,2671,2061,212
Net block1,4991,349577584539527544
Capital work in progress50.7755.4750426225420454.47
Investments371344321288268290274
Inventories585654520532414289224
Sundry debtors1,001547269490310288185
Cash & bank balances32912214578.1932.9744.2946.56
Loans & advances673629907737530510314
Total current assets2,5881,9521,8411,8371,2871,132770
Total current liabilities1,4791,3211,2471,3251,023866702
Net working capital1,10963159451126526667.59
Total assets3,2192,5282,0641,7241,4021,3681,118
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash10913569.9926.3535.4440.7049.63
Net cash from operating activities46318914897.30114(19.98)15.74
Net cash from investing activities(271)(392)(274)(130)(62.94)(168)(156)
Net cash from financing activities14.1817819179.59(60.41)182131
Net change in cash206(25.27)64.6347.21(9.09)(5.26)(8.92)
Closing cash32912214578.1932.9744.2946.56
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+91.2%+3.2%+45.0%+43.3%+11.3%+243.4%-
EBITDA growth+45.9%+51.7%+41.2%+73.0%-16.8%+314.1%-
PBT growth+46.0%-1.4%+121.3%+42.6%-11.2%-71.2%+9998.0%
Net income growth+37.6%+48.0%+67.8%+65.6%+5.9%+192.3%-
Revenue CAGR (3Y)+42.0%+28.9%+32.2%+76.3%+27.2%+13.1%-26.2%
EBITDA CAGR (3Y)+46.2%+54.8%+26.7%----
Profitability & leverage
Net income margin+8.0%+10.6%+10.6%+6.0%+6.8%+7.6%+114.6%
Return on capital employed-+17.3%+14.9%+13.2%+10.0%+12.0%-9.9%
Return on net worth-+26.6%+24.3%+18.5%+15.0%+17.4%+1056.5%
Debt / equity-0.991.091.181.361.420.00
Long-term debt / equity-0.710.790.881.050.780.00
Interest cover28.2332.1544.6765.54132.5277.52-36.41
Efficiency & per share
Fixed asset turnover-1.471.881.381.030.950.39
Inventory turnover-4.665.053.873.644.471.74
Debtors turnover-6.717.004.584.274.852.31
EPS (₹)42.0230.9731.3712.799.4610.0644.57
Dividend per share (₹)2.002.000.000.000.500.500.00
Book value per share (₹)0.00130.02100.6071.6056.9749.5239.40
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue11111812187.0510612396.8574.32
Revenue growth (YoY)+4.4%-4.0%+25.2%+17.1%+36.5%---
Other income5.0216.215.2813.613.651.926.454.78
Total expenses77.4473.1094.7165.1364.5210577.5362.14
EBITDA33.1944.6926.5721.9241.5017.9019.3212.18
EBITDA margin+30.0%+37.9%+21.9%+25.2%+39.1%+14.6%+19.9%+16.4%
Depreciation2.422.452.442.542.452.252.172.16
Interest2.312.653.003.062.921.081.882.04
Profit before tax33.4855.8026.4129.9339.7816.4921.7212.76
Tax8.7014.697.22(34.62)9.98(3.84)(4.31)(1.44)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue432372333223598421206
Revenue growth+16.3%+11.5%+49.6%-62.8%+41.9%+104.8%-
Other income38.7515.1689.9540.0126.4740.85732
Total expenses297298247230590341510
Employee cost0.0029.7529.9227.7725.1021.5024.31
EBITDA13573.1285.98(7.61)7.9080.03(304)
EBITDA margin+31.2%+19.7%+25.8%-3.4%+1.3%+19.0%-147.7%
Depreciation9.889.1710.2615.3819.5220.2320.92
Interest11.637.4314.6222.8430.5034.7713.88
Profit before tax15271.68151(5.82)(15.65)65.88393
Tax(2.73)(12.87)(15.41)1.190.0010.240.00
Net profit15684.5791.59(4.90)(15.99)36.52(64.59)
Net profit margin+36.2%+22.8%+27.5%-2.2%-2.7%+8.7%-31.4%
EPS (₹)16.198.8518.19(0.77)(1.71)6.4045.22
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital19.1119.1118.3018.3018.3017.4017.40
Reserves & surplus4392941726.6118.2730.70(24.34)
Shareholders' funds (net worth)45831320034.6036.5751.69(3.35)
Secured loans0.000.0027.4154.7868.4685.5893.18
Unsecured loans55.8677.5017.300.000.000.000.00
Total debt55.8677.5044.7154.7868.4685.5893.18
Total liabilities629526401393339400404
Assets
Gross block327323316326370367364
Net block111112114126148164181
Capital work in progress8.176.866.501.882.741.272.89
Investments39.5239.5239.5139.5139.5143.7744.10
Inventories87.4689.5592.21104115118107
Sundry debtors319246131117154214111
Cash & bank balances57.7528.4421.3527.6212.9317.0421.72
Loans & advances82.8111711012111194.6575.56
Total current assets547480354370393443315
Total current liabilities148183160193307282183
Net working capital39929719417785.75161132
Total assets629526401393339400404
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash19.1113.7920.759.1010.6417.5518.33
Net cash from operating activities74.85(34.01)(12.88)38.1441.4940.13(0.98)
Net cash from investing activities(4.80)(14.26)32.770.67(2.29)4.32(14.67)
Net cash from financing activities(42.71)53.59(26.84)(27.17)(40.74)(51.35)14.88
Net change in cash27.345.32(6.96)11.64(1.54)(6.90)(0.78)
Closing cash57.7528.4421.3527.6212.9317.0421.72
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+16.3%+11.5%+49.6%-62.8%+41.9%+104.8%-
EBITDA growth+84.2%-15.0%+1229.8%-196.3%-90.1%+126.3%-
PBT growth+111.9%-52.6%+9998.0%+62.8%--83.3%+9998.0%
Net income growth+85.0%-7.7%+1969.2%+69.4%-143.8%+156.5%-
Revenue CAGR (3Y)+24.7%-14.7%-7.5%+2.7%+21.0%+20.8%-4.4%
EBITDA CAGR (3Y)-+110.0%+2.4%-70.8%--+100.6%
Profitability & leverage
Net income margin+35.8%+22.8%+50.0%-3.2%-2.6%+13.2%+191.1%
Return on capital employed-+16.8%+22.4%0.0%0.0%+14.0%-38.5%
Return on net worth-+31.9%+72.9%0.0%0.0%+17.9%+65.4%
Debt / equity-0.240.421.731.753.700.00
Long-term debt / equity-0.000.070.831.243.130.00
Interest cover9.3211.6219.31-99.35-262.4858.14-4.27
Efficiency & per share
Fixed asset turnover-1.161.040.641.621.150.56
Inventory turnover-4.093.392.035.143.761.73
Debtors turnover-1.982.691.643.252.602.27
EPS (₹)16.198.8518.19(0.77)(1.71)6.4045.22
Dividend per share (₹)2.002.000.000.000.500.500.00
Book value per share (₹)0.0032.7520.762.724.005.53(0.80)

Web traffic of Ashapura

The website of Ashapura (ashapura.com) receives about 15.5K visits a month.

  • Monthly visits
    15.5K

    ▲ 12.8% vs previous month

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Frequently Asked Questions about Ashapura

Ashapura was founded in 1960.

Ashapura is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.

Ashapura has 2,220 employees.

The primary company behind Ashapura, Ashapura Minechem Ltd, reported revenue of ₹5,382 Cr for FY 2026, up 91% year on year.

Ashapura is established as a prominent provider of multi-mineral solutions with a global presence across India and seven other countries. Operations are focused on mining, processing, and exporting industrial minerals such as Bentonite, Bauxite, and Kaolin. Solutions are offered across diverse sectors including soaps, steel, energy, edible oils, metal, medicine, cement, and ceramics. Emphasis is placed on sustainable practices to minimize environmental impact while enriching natural mineral resources in harmony with society. Innovation is supported through a dedicated Knowledge and Innovation Centre in Gujarat, housing advanced geo-mineral laboratories.

Ashapura offers Bentonite, Bauxite, Kaolin, and Bleaching Clay.

Yes, Ashapura is publicly traded on NSE under the ticker symbol ASHAPURMIN.

Ashapura operates through Ashapura Minechem Ltd.

The legal entities of Ashapura currently have 9 directors, including Chetan Navnitlal Shah, Hemul Ramesh Shah, Himani Chetan Shah and others.

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