Ashapura Minechem share price today

Ashapura Minechem Ltd's share price was ₹431.30 at the close on 4 November 2026. It has been falling for 6 weeks. That is 26.1% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹409 and ₹901, and at that close it sat 5% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Ashapura Minechem Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 19 weeks running.

Over the last 11 years the share price moved +452% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 1 July 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: revenue up on a year earlier for 8 quarters in a row, promoters raised their stake for 5 quarters in a row and number of shareholders up 30% in a year.

1. Revenue up on a year earlier for 8 quarters in a row

   In the June 2026 quarter revenue was ₹1,616 crore, +19.2% on a year earlier.

   Why: Revenue rose because the Guinea bauxite business shipped more ore than a year earlier.

   Next results: check Guinea bauxite shipments against the stated export range.

   From the earnings call on 19 Aug 2026.

2. Promoters raised their stake for 5 quarters in a row

   From 47.8% to 48.1% of the company by the September 2026 quarter.

3. Number of shareholders up 30% in a year

   46,820 shareholders in the September 2026 quarter, against 36,096 a year earlier.

For April to June 2026 (the quarter ended 30 June 2026), Ashapura Minechem reported revenue of ₹1,616 crore, up 19.2% from ₹1,356 crore a year earlier, and a profit of ₹108 crore, down 5.3% from ₹114 crore.

Ashapura Minechem results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Ashapura Minechem's management discussed these results on a call held on 19 August 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

Ashapura Minechem closed at ₹431.30 on 4 November 2026, down 32.2% from ₹636.45 a year earlier (7 November 2025) and up 286.6% over five years. Its highest weekly close since March 2016 was ₹901.00 on 2 January 2026.

Ashapura Minechem share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

560 weekly closes from 11 March 2016 to 4 November 2026.

4 Nov 2026: Ashapura Minechem closed at ₹431.30, up 5.5% on the week and down 12.0% on the month. 22 Sep 2026: ex-date for a dividend of ₹2 a share.

Earlier

• 19 Aug 2026: Ashapura Minechem held its results call for April to June 2026. Management guided: Guinea bauxite exports: FY27 goal 10-12 million tons with 10% variance, implying a 9-11 million-ton working range; FY28 goal 15 million tons, corresponding to almost $1 billion or nearly ₹10,000 crore sales.
• Results for April to June 2026: Revenue up 19.2% and profit down 5.3% on a year earlier.

Ashapura Minechem paid ₹2 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.46% at the ₹431.30 close on 4 November 2026. The last was a dividend of ₹2 a share, ex-date 22 September 2026.

Ashapura Minechem dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Yes. Ashapura Minechem Ltd paid out 7% of its profit as dividends in FY26, and it paid a dividend in 4 of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 19 August 2026, Ashapura Minechem's management guided: Guinea bauxite exports: FY27 goal 10-12 million tons with 10% variance, implying a 9-11 million-ton working range; FY28 goal 15 million tons, corresponding to almost $1 billion or nearly ₹10,000 crore sales.

“Freight rates remain highly volatile. Given the current geopolitical environment, we expect this volatility to continue throughout 2027.”Chetan Shah, on the call for April to June 2026

What management guided

• GSM new jetty expected operational by January to March 2027, lifting second-port capacity from 6 million tons to 10 million tons per annum and combined port capacity to approximately 23 million tons.
• Guinea bauxite quota expected before year-end, potentially tightening supply, improving prices and reducing freight.
• Q2 bauxite sales seasonally weakest, weighted to Q3/Q4; operating profit per ton around $5.5-$6 for the next 1-2 quarters.
• Bauxite operating profit per ton expected to improve significantly around the end of next calendar year and move closer to $10 over the medium term.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 19 August 2026.

When Ashapura Minechem reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Guinea bauxite shipments against the stated export range; check whether Q2 weakness is seasonal or reflects sustained vessel and freight constraints.

Ashapura Minechem is on 2 of our India lists: 52 week high & low and Copper & metal stocks.

Ashapura Minechem Ltd earned ₹108 Cr of net profit in the Jun 2026 quarter, −5.3% on the same quarter a year earlier. Full-year FY26 profit was ₹416 Cr. Over 10 years profit has grown 9.9% a year on average. That is 6.7% of the quarter's revenue. The same quarter a year earlier earned ₹114 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹416 Cr (+43.9% on the year before).

Why profit moved: revenue changed +19.2% on a year earlier and the margin moved −2.0 percentage points. Sales did the work while the margin got thinner.

On average over the last four quarters, profit changed +41.2% and revenue +85.6%. Profit is growing slower than sales: rising costs are taking part of the growth.

Ashapura Minechem Ltd reported ₹1,616 Cr of revenue in the Jun 2026 quarter, +19.2% on the same quarter a year earlier. That is the 8th quarter in a row with growth on the year before. Over 10 years it has grown 11.4% a year on average. The last full year, FY26, came in at ₹5,237 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹5,497 Cr.

FY26 revenue was ₹5,237 Cr, +91.2% on the year before.

Recent pace: the last four quarters grew +85.6% on average, against 11.4% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +62.6%, against +50.7% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +19.5%, against +31.1% a year (rolling over).

Ashapura Minechem Ltd's operating margin was 11.0% in the Jun 2026 quarter, 2.0 percentage points lower than the same quarter a year ago. Across 13 years it has been between −14.0% and 22.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed −2.2 percentage points on the year while gross margin changed +5.8 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years, 81% of Ashapura Minechem Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹463 Cr of operating cash against ₹416 Cr of profit. After ₹279 Cr of spending on assets, ₹184 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 81% of profit came in as cash: the cash cycle got 23 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 3.4× depreciation over three years. The next section checks what that spending is building.

Ashapura Minechem Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was −28 days in FY26, down from −5 days in FY21. It spent ₹994 Cr on assets over the last 3 years. Customers take 70 days to pay, and stock sits for 163 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹5,237 Cr, each day of that cycle ties up about ₹14.3 Cr, so roughly −₹402 Cr is tied up in the business at any time.

FY26: customers took 70 days to pay and stock sat for 163 days, about 5.4 months of sales sitting as stock, for a full cycle of −28 days, shorter than FY21's −5.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 163 days. Customers pay about 70 days after that. Suppliers are paid at 261 days. Together that makes the −28-day cycle.

Spending on assets: ₹994 Cr over the last 3 years, against ₹290 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹51.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Ashapura Minechem Ltd's P/E is 10.0×, near the low end of its own history: it has been lower only 22% of the time. Its usual P/E (the middle reading) is 14.1×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹42.59.