Ashapura Minechem Limited (ASHAPURMIN) fair value: what the stock is really worth
As of Nov 11, 2026: fair value (intrinsic value) of Ashapura Minechem Limited stock ₹508, price ₹412, upside +23.3%, quality 53 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.
How to read this chart
60‑month range ₹74.13 – ₹902.45 · fair‑value band ₹312.00 – ₹692.44 · the ₹411.75 price screens below the ₹507.53 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 10, 2026.
Follow Ashapura Minechem in your weekly email
Every Wednesday you see whether Ashapura Minechem is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Ashapura Minechem Limited is involved in the mining, manufacturing, and trading of various minerals and its derivative products in India and internationally.
Show moreShow less
The company provides bauxite, bentonite, kaolin, silica sand, limestone, and gypsum for aluminium, foundry, cosmetics, metal ore, pelletization, construction, and paper applications.
It also offers fused alumina, high alumina cement, castables, calcined bauxite, chamotte, mullite, and monoliths for abrasives, refractories, foundries, grinding, and road surfacing.
In addition, the company offers ceramic and silica proppants, bentonite, barytes, and attapulgite for use in oil well drilling and hydraulic fracturing; acid activated bleaching clay, activated bauxite, clay catalysts, cat litter, and siliceous earth for bleaching edible oil, petroleum refining, water purification, pet care, and bleaching waste oils; ground calcium carbonate, calcined kaolin, white barytes, and talc for ceramics, glass, paper, paints, plastics, and building products sectors; and atta medigel, ashagel, and organoclay for use in sealants, plasters, polymers, aviation fuel enhancers, and pharmaceutical applications.
Further, it offers ball clay, wall care, water proofing, adhesives, and admixture. The company was founded in 1960 and is based in Mumbai, India.
Stock analysis
Ashapura Minechem Limited (ASHAPURMIN) currently trades at ₹411.75, while our model-based Fair Value estimate is ₹507.53, implying the stock looks roughly 19% undervalued today.
Show more
Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹1,174 per share, and 16 of the 26 models we run sit above the ₹411.75 price.
Bear case: the Asset-Based group reads lowest at ₹104.12, and 10 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: ₹312.00 (bear) to ₹692.44 (bull), the price of ₹411.75 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 53/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Ashapura Minechem Limited reported revenue of ₹52.4B in FY2026 versus ₹12.8B in FY2022, a compound +42.3%/yr. Reported net income was ₹4.0B in FY2026, compounding +46.8%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
Key figures
Market cap ₹39.3B (≈ $420M) Small · P/E ratio 9.7 · P/S ratio 0.72 · EPS (TTM) ₹42.59 · Dividend yield 0.5% · Net margin 7.4% · Return on equity 29.1% · Return on assets (EBIT) 5.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 60 out of 100 (low confidence).
What moves the price
The share trades about 54% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −11% fair-value upside, at 23%, ASHAPURMIN screens cheaper than that median.
Fair Value models
Bear₹312.00Fair Value ₹507.53Bull₹692.44
Price ₹411.75 · Upside +23.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹25.13 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+91.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+42.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+35.7%
Start year 2021 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+59.6%
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
’26
What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+34.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+34.0%
Dividend (yield on the price)0.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.34.0% vs 8.5%, picking up
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.11% → 8%
Pace: the 5-year rate starts in 2021 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+26.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +21.5% a year for the price.
AI conclusion: Strong revenue growth and improved operating profits offer partial support in cyclical mining, yet limited evidence of a durable moat and high leverage near equity levels remain the main weaknesses.
Main risk: High leverage with debt near equity levels could restrict financial flexibility and hit the ability to fund ongoing operations and expansions.
Ashapura Minechem has posted strong revenue growth for nine months and better operating profits than recent averages. The stock has nevertheless slid to fresh lows, with leverage a recurring concern. Our models see it as undervalued. Will expanding sales and margins offset the debt burden or will it keep sentiment subdued?
Compare Ashapura Minechem Limited with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Other Industrial Metals & Mining · 577 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score53 · Top 25%
Fair Value upside+23.3% · Top 25%
Profitability
Return on equity (12 months)29.1% · Top 25%
Return on assets8.5% · Top 25%
Net margin (12 months)7.4% · Above median
Operating margin (12 months)9.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)19.2% · Above median
Dividend yield (12 months)0.5% · Bottom 25%
Balance sheet
Debt / equity0.62× · Highest 25%
Valuation Multiplesvs Other Industrial Metals & Mining median · lower = cheaper
P/E (12 months)9.7× · Cheaper than median
P/B2.38× · Pricier than median
P/S (12 months)0.72× · Cheapest 25%
Price / free cash flow (fiscal year)26.2× · Pricier than median
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Ashapura Minechem Limited (ASHAPURMIN) overvalued or undervalued?
As of Nov 10, 2026, our model estimates a fair value of ₹507.53 versus a price of ₹411.75, about +23% upside (undervalued).
What is the fair value of ASHAPURMIN?
Our model-based fair value for Ashapura Minechem Limited is ₹507.53 (as of Nov 10, 2026), built from audited fundamentals. The current price: ₹411.75.
What is the quality score of ASHAPURMIN?
Ashapura Minechem Limited has a Quality Score of 53/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Ashapura Minechem Limited (ASHAPURMIN)?
Our model-based price target is the fair value of ₹507.53 (as of Nov 10, 2026) from 26 valuation models. Cautious scenario ₹312.00, optimistic scenario ₹692.44. It is a calculation from audited fundamentals, not an analyst target.
What is the Ashapura Minechem Limited stock forecast for 2026?
Our models put fair value at ₹507.53, about +23% upside versus a price of ₹411.75 (undervalued). Cautious scenario ₹312.00, optimistic scenario ₹692.44. The calculation is refreshed regularly with new filings.
What is the revenue of Ashapura Minechem Limited (ASHAPURMIN)?
Ashapura Minechem Limited reported trailing-twelve-month revenue of about ₹55.0B (latest available figure, as of Nov 10, 2026).
Does Ashapura Minechem Limited pay a dividend?
Ashapura Minechem Limited currently shows a dividend yield of 0.49% relative to its recent price (as of Nov 10, 2026).
How much is the dividend of Ashapura Minechem Limited (ASHAPURMIN) and when is the ex-dividend date?
Ashapura Minechem Limited pays a dividend of ₹2.00 per share a year, a dividend yield of 0.5%. The last ex-dividend date was Sep 22, 2026. The payout ratio is 4.7% of earnings. Free cash flow covers the dividend 7.87 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Ashapura Minechem Limited (ASHAPURMIN)?
For today's price to be fair in a discounted-cash-flow model, Ashapura Minechem Limited would have to grow free cash flow by +26.6 % per year for five years (discount rate 12.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +35.7 % per year. As of Nov 10, 2026.
What discount rate (WACC) does the fair value of ASHAPURMIN use?
Our models discount Ashapura Minechem Limited at 12.5 %: a base by market capitalisation (small), damped by beta 0.62, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Ashapura Minechem Limited that is +26.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.5 %) and the same formula as our fair value.
How much growth has Ashapura Minechem Limited (ASHAPURMIN) delivered so far?
Over the past 5 years revenue at Ashapura Minechem Limited grew +35.7 % a year. The price currently implies free-cash-flow growth of +26.6 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Ashapura Minechem Limited (ASHAPURMIN) growing?
The median revenue growth in the sector is +8.7 % a year. That is the yardstick for the growth priced into Ashapura Minechem Limited (+26.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Ashapura Minechem Limited (ASHAPURMIN)?
The free-cash-flow yield on the price is 3.82 %: that much free cash flow Ashapura Minechem Limited produces per unit of market value. When it exceeds the discount rate of our models (12.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Ashapura Minechem Limited (ASHAPURMIN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ashapura Minechem Limited it is ₹507.53 per share (as of Nov 10, 2026), against a price of ₹411.75. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Ashapura Minechem Limited stock overvalued or undervalued in 2026?
As of Nov 10, 2026, ASHAPURMIN trades below its calculated fair value: price ₹411.75, fair value ₹507.53, a gap of about +23% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ASHAPURMIN?
No. The price is what the market pays today (₹411.75); the fair value is what the company's own numbers justify (₹507.53). For Ashapura Minechem Limited the two are ₹95.78 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ashapura Minechem Limited worth?
The market values Ashapura Minechem Limited at about ₹39.3B (market capitalisation, as of Nov 10, 2026). Per share that is ₹411.75; our models calculate a fair value of ₹507.53 per share.
What do the bullish and bearish scenarios say about ASHAPURMIN?
Our models span a range for Ashapura Minechem Limited: cautious scenario ₹312.00, base ₹507.53, optimistic ₹692.44 per share (as of Nov 10, 2026, price ₹411.75). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ASHAPURMIN?
Ashapura Minechem Limited trades at a price-to-earnings ratio of 9.7 (as of Nov 10, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹507.53 is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2020 to 2026), reported earnings: 10.9. Other multiples: P/B 2.4, P/S 0.7, EV/EBITDA 6.8.
How solid is the balance sheet of Ashapura Minechem Limited (ASHAPURMIN)?
Balance-sheet figures for Ashapura Minechem Limited (as of Nov 10, 2026): return on equity 29.1%, debt of 0.62 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is ASHAPURMIN from its 52-week high?
Ashapura Minechem Limited trades at ₹411.75, about 54% below its 52-week high of ₹902.45 and 1% above the low of ₹408.65 (as of Nov 11, 2026). Distance from the high says nothing about value: that is what the fair value of ₹507.53 is for.
Which stocks are comparable to Ashapura Minechem Limited?
From the same area (Basic Materials) we also value BHP Group, Saudi Arabian Mining Company, CMOC Group, Hindustan Zinc Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Ashapura Minechem Limited stock attractive at the current price?
The data as of Nov 10, 2026: price ₹411.75, calculated fair value ₹507.53 (+23%), Quality Score 53/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ASHAPURMIN calculated?
We run Ashapura Minechem Limited through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ₹507.53 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0% above its aggregate fair value. Ashapura Minechem Limited currently trades 19% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Ashapura Minechem Limited (ASHAPURMIN)?
The closing price on Nov 11, 2026 was ₹411.75. Our model-based fair value is ₹507.53, about +23% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ashapura Minechem Limited right now?
Solid quality (53/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (₹312.00 to ₹692.44) leaves room in how you read the outcome.
Key figures of Ashapura Minechem Limited
How large is the market capitalisation of Ashapura Minechem Limited (ASHAPURMIN)?
The market capitalisation of Ashapura Minechem Limited is ₹39.3B (≈ $420M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Ashapura Minechem Limited (ASHAPURMIN)?
The price-to-sales ratio of Ashapura Minechem Limited is 0.72 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Ashapura Minechem Limited (ASHAPURMIN)?
Earnings per share at Ashapura Minechem Limited are ₹42.59 (price ÷ EPS = P/E 9.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Ashapura Minechem Limited (ASHAPURMIN)?
The dividend yield of Ashapura Minechem Limited is 0.5% (payout 4.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Ashapura Minechem Limited (ASHAPURMIN)?
The net margin of Ashapura Minechem Limited is 7.4% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Ashapura Minechem Limited (ASHAPURMIN)?
The return on equity (ROE) of Ashapura Minechem Limited is 29.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Ashapura Minechem Limited (ASHAPURMIN)?
On an EBIT basis the return on assets of Ashapura Minechem Limited is 5.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Ashapura Minechem Limited (ASHAPURMIN)?
The operating margin of Ashapura Minechem Limited is 9.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ashapura Minechem Limited (ASHAPURMIN)?
Revenue at Ashapura Minechem Limited is growing +19.2% versus a year earlier (3y avg +42.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Ashapura Minechem Limited (ASHAPURMIN)?
Earnings per share at Ashapura Minechem Limited are growing +5.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Ashapura Minechem Limited (ASHAPURMIN) carry?
The net debt of Ashapura Minechem Limited is ₹11.2B (fiscal year 2026, ≈ 7.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Ashapura Minechem Limited in the live analysis
One click puts Ashapura Minechem Limited on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Broad data
Nov 10, 2026