Company Valuation: Ashapura Minechem Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 9,090 11,683 10,256 34,394 34,313 43,894
Change - 28.52% -12.22% 235.37% -0.24% 27.92%
Enterprise Value (EV) 1 15,377 17,786 17,090 42,860 44,823 55,153
Change - 15.67% -3.92% 150.8% 4.58% 23.05%
P/E 10.8x 13.2x 8.76x 12.3x 11.4x 10.9x
PBR 2.09x 2.24x 1.54x 3.7x 2.76x 2.66x
PEG - -18.16x 0.3x 0x 3.64x 0.3x
Capitalization / Revenue 0.79x 0.91x 0.56x 1.3x 1.25x 0.84x
EV / Revenue 1.34x 1.39x 0.93x 1.62x 1.64x 1.05x
EV / EBITDA 9.47x 14.8x 8.63x 16.4x 10.8x 9.28x
EV / EBIT 13x 28.1x 13.5x 23.3x 13.3x 11.9x
EV / FCF -5.13x -19.2x -7.75x -21.2x -15.1x -27.2x
FCF Yield -19.5% -5.2% -12.9% -4.72% -6.6% -3.68%
Dividend per Share 2 0.5 0.5 - - 1 2
Rate of return 0.48% 0.39% - - 0.28% 0.44%
EPS 2 9.72 9.649 12.79 30.5 31.46 42.02
Distribution rate 5.14% 5.18% - - 3.18% 4.76%
Net sales 1 11,481 12,778 18,308 26,538 27,389 52,371
EBITDA 1 1,623 1,205 1,981 2,611 4,136 5,946
EBIT 1 1,184 634.1 1,268 1,837 3,370 4,628
Net income 1 874.8 865.2 1,170 2,870 2,958 4,014
Net Debt 1 6,287 6,103 6,834 8,466 10,510 11,259
Reference price 2 104.50 127.70 112.10 375.95 359.20 459.50
Nbr of stocks (in thousands) 86,986 91,486 91,486 91,486 95,526 95,526
Announcement Date 9/7/21 9/6/22 9/6/23 9/5/24 8/29/25 9/3/26
1INR in Million2INR
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 487M
16.55x3.84x6.97x3.54% 215B
11.33x2.67x5.88x5.27% 156B
15.34x4.42x7.3x3.1% 102B
11.86x0.38x6.12x3.36% 89.1B
26.61x6.26x16.71x-.--% 62.6B
73.96x3.13x7.74x1.14% 57.49B
15.33x3.11x6.07x0.55% 31.69B
11.54x3.72x5.64x5.31% 25.1B
11.94x4.32x7.53x3.99% 24.01B
Average 21.61x 3.54x 7.77x 2.92% 76.36B
Weighted average by Cap. 19.57x 3.40x 7.49x 3.29%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Ashapura Minechem Limited

Historical PBR trend

Valuation ratios - PBR - Ashapura Minechem Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Ashapura Minechem Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Ashapura Minechem Limited

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