Ashapura Minechem LtdNSE: ASHAPURMIN

Un-audited Financial results for the quarter and half year ended 30th September, 2025

Nov 14, 2025 at 2:21 PM UTC · Issued by Ashapura Minechem Ltd

	ASHAPURA MINECHEM LIMITED	[CIN : L14108MH1982PLC026396]
	REGD. OFFICE : JEEVAN UDYOG BUILDING, 3RD FLOOR, 278, D.N.ROAD, MUMBAI 400 001.
	STATEMENT OF STANDALONE/CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE HALF YEAR ENDED 30th SEPTEMBER, 2025											(₹ in cr except for EPS)
PARTICULARS		Standalone						Consolidated
		Quarter ended			Half year ended		Year ended	Quarter ended			Half year ended		Year ended
		30-09-2025	30-06-2025	30-09-2024	30-09-2025	30-09-2024	31-03-2025	30-09-2025	30-06-2025	30-09-2024	30-09-2025	30-09-2024	31-03-2025
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1	Income
	(a) Income from operations	87.05	106.02	74.32	193.07	152.02	371.52	952.50	1,355.57	604.10	2,308.07	1,318.25	2,738.93
	(b) Other income	13.61	3.65	4.78	17.26	6.80	15.16	1.44	5.95	1.15	7.39	4.99	74.89
	Total Income	100.66	109.67	79.11	210.33	158.82	386.68	953.94	1,361.52	605.25	2,315.46	1,323.24	2,813.82
2	Expenses
	(a) Cost of materials consumed	16.78	22.16	14.97	38.94	34.22	82.38	143.85	258.07	84.34	401.92	224.15	743.51
	(b) Purchase of stock-in-trade	3.57	5.13	4.91	8.70	12.98	67.41	32.72	27.08	20.93	59.80	53.97	120.22
	(c) Changes in inventories	6.26	(2.12)	6.23	4.14	1.34	2.59	48.93	106.96	57.49	155.89	76.78	(155.11)
	(d) Employee benefits expenses	8.27	8.10	7.58	16.37	15.01	31.67	32.53	33.84	36.60	66.37	72.63	159.15
	(e) Finance costs	3.06	2.92	2.04	5.98	4.10	7.06	29.22	30.89	19.02	60.11	36.00	88.92
	(f) Depreciation and amortisation expenses	2.54	2.45	2.16	4.99	4.74	9.17	32.16	31.50	19.68	63.66	36.54	77.98
	(g) Selling & Distribution expenses	9.09	8.30	10.69	17.39	17.31	44.45	504.27	692.91	298.64	1,197.18	659.53	1,309.98
	(h) Other expenses	21.16	22.95	17.75	44.11	35.64	70.28	59.50	54.94	42.04	114.44	80.16	191.19
	Total Expenses	70.73	69.89	66.33	140.62	125.34	315.00	883.19	1,236.18	578.72	2,119.37	1,239.76	2,535.85
3	Profit before exceptional items & tax (1-2)	29.93	39.78	12.77	69.71	33.48	71.68	70.74	125.35	26.53	196.09	83.49	277.97
4	Exceptional Items Gain/(Loss)	-	-	-	-	-	-	-	-	-	-	-	-
5	Profit before Share of Profit of JV & Associates (3-4)	29.93	39.78	12.77	69.71	33.48	71.68	70.74	125.35	26.53	196.09	83.49	277.97
6	Share of Profit of joint ventures and associates (net of tax)	-	-	-	-	-	-	10.47	6.49	9.04	16.96	17.19	26.50
7	Profit before tax (5+6)	29.93	39.78	12.77	69.71	33.48	71.68	81.22	131.84	35.57	213.05	100.68	304.47
8	Tax Expenses
	(a) Current tax	-	-	-	-	-	-	4.15	9.53	1.14	13.68	9.31	33.76
	(b) Earlier years' tax	-	-	-	-	-	(0.23)	-	-	(6.54)	-	(6.55)	(6.26)
	(c) Deferred tax (refer Note 3)	(34.62)	9.98	(1.44)	(24.64)	(4.71)	(12.64)	(28.91)	8.41	(1.66)	(20.50)	(5.02)	(12.11)
9	Profit for the period (7-8)	64.55	29.80	14.21	94.35	38.19	84.55	105.98	113.90	42.63	219.88	102.94	289.07
10	Other Comprehensive Income/(Loss)
	A Items that will not be reclassified to profit or loss
	(i) Remeasurements of defined benefit plans (net of taxes)	(0.10)	(0.11)	(0.26)	(0.21)	(0.52)	(0.43)	(0.53)	(0.23)	(0.54)	(0.76)	(1.07)	(1.61)
	(ii) Gains on Investments in equity instruments classified as FVOCI	-	-	-	-	-	-	-	-	-	-	-	-
	B Items That will be reclassified to profit or loss										-
	(i) Exchange differences on foreign currency translation	-	-	-	-	-	-	(13.49)	1.43	(0.18)	(12.06)	(2.04)	(11.30)
	Total Other Comprehensive income (net of tax)	(0.10)	(0.11)	(0.26)	(0.21)	(0.52)	(0.43)	(14.02)	1.20	(0.72)	(12.82)	(3.11)	(12.91)
11	Total Comprehensive Income for the period (net of tax)	64.45	29.69	13.95	94.14	37.67	84.13	91.96	115.10	41.91	207.06	99.82	276.17
12	Profit for the period attribuarble to:
	(a) Shareholders of the Company	-	-	-	-	-	-	96.61	109.86	44.33	206.48	103.90	295.81
	(b) Non-controlling interests	-	-	-	-	-	-	9.37	4.04	(1.70)	13.41	(0.97)	(6.74)
		-	-	-	-	-	-	105.98	113.90	42.63	219.88	102.94	289.07
	Total Comprehensive Income for the period attributable to:
	(a) Shareholders of the Company	-	-	-	-	-	-	82.59	111.06	43.61	193.65	100.79	282.91
	(b) Non-controlling interests	-	-	-	-	-	-	9.37	4.04	(1.70)	13.41	(0.97)	(6.74)
		-	-	-	-	-	-	91.96	115.10	41.91	207.06	99.82	276.17
13	Paid-up Equity Share Capital 95,526,098 of ₹ 2 each)	19.11	19.11	19.11	19.11	19.11	19.11	19.11	19.11	19.11	19.11	19.11	19.11
	Reserves excluding revaluation reserve	-	-	-	378.33	247.29	293.75	-	-	-	1,407.03	1,040.80	1,222.92
14	Earnings Per Share
	Basic (₹)	6.76	3.12	1.50	9.88	4.13	8.99	10.11	11.50	4.71	21.61	11.22	31.46
	Diluted (₹)	6.76	3.12	1.59	9.88	4.13	8.99	10.11	11.50	4.92	21.61	11.22	31.46

Notes to Accounts:

The above financial results are reviewed by the Audit Committee and taken on record at the meeting of the Board of Directors held on 13th November, 2025. The Statutory Auditors have carried out limited review of the same and have

issued an unmodified opinion thereon carried out limited review of the same and have issued an unmodified opinion thereon.

Income from operations in the standalone results includes service receipts towards providing marketing and logistics related services to a subsidiary persuant to a long term contract.

During the quarter, income tax matter pending in litigation in respect of carried forward losses aggregating to Rs. 259.20 crores was settled in the favour of the Parent Company. Consequently the balance deferred tax assets thereon

aggregating to Rs. 34.62 crores (net of current period's tax liability) which was hitherto not recognized due to uncertainty of the outcome of the litigation, is recognized now in the current quarter. This is one-time non-recurring item in the statement of the profit & loss.

The Company has identified Minerals, its derivative products and related services business as its only primary reportable segment in accordance with the requirements of Ind AS 108 Operating Segments'. Accordingly, separate segment

information has not been provided.

The complaints from investors/shareholders for the quarter ended on 30th September, 2025 : Received - 4, Resolved - 4 , Unresolved - 0.

Pervious Period's figures have been regrouped and rearranged, wherever necessary.

For ASHAPURA MINECHEM LIMITED

HEMUL Digitally sig RAMESH

ned by HEMUL SHAH

RAMESH SHAH Date: 2025.

+05'30'

Place : Mumbai

Hemul Shah

Date : 13th November, 2025

Executive Director & CEO

11.13 18:07:45

ASHAPURA MINECHEM LIMITED

Registered Office: 3rd Floor, Jeevan Udyog, 278, D N Road, Fort, Mumbai - 400 001.

[CIN : L14108MH1982PLC026396]

Statement of Assets & Liabilities

( ₹ in Cr )

Particulars

Standalone

Consolidated

As at

30.09.2025

As at

31.03.2025

As at

30.09.2025

As at

31.03.2025

ASSETS:

Non-Current Assets

Property, plant and equipment

93.06

1,173.93

1,179.42

Right of use of assets

2.36

2.86

Capital work in progress

4.30

6.86

71.92

55.47

Investment properties

18.66

19.03

2.13

2.10

Intangible assets

0.20

0.22

113.54

117.27

Goodwill

47.44

Financial assets

Investments

39.52

(a) Investments in associates

145.15

142.28

(b) Investments in joint ventures

213.46

202.20

0.02

Loans

28.36

31.00

2.10

0.38

Other financial assets

9.83

11.04

37.60

37.58

Deferred tax assets

52.90

28.19

61.27

40.52

Other non-current assets

0.15

0.21

70.07

2.50

247.00

229.14

1,941.01

1,830.05

Current Assets

Inventories

89.89

89.55

507.53

654.33

Financial assets

Investments

1.07

4.53

Trade receivables

260.35

245.16

546.32

547.45

Cash and cash equivalents

23.80

19.11

298.14

109.35

Other bank balances

20.44

9.33

23.10

12.16

Loans

0.11

0.08

0.40

0.33

Other financial assets

4.23

3.14

216.87

171.70

Other current assets

80.80

104.61

497.30

501.89

Current tax assets

10.09

8.72

116.60

103.29

490.78

479.70

2,210.79

2,100.50

Total Assets

737.78

708.85

4,151.79

3,930.55

EQUITY AND LIABILITIES:

Equity

Equity share capital

19.11

Other equity

378.33

293.75

1,407.03

1,222.92

Non-controlling interests

(6.11)

(19.51)

397.44

312.85

1,420.03

1,222.51

Liabilities

Non-current liabilities

Financial Liabilities

Borrowings

73.28

77.50

901.19

856.18

Lease Liabilities

1.53

1.66

Other financial liabilities

117.68

128.66

117.68

128.66

Provisions

7.08

7.06

14.77

13.94

Other non-current liabilities

198.04

213.22

1,035.17

1,000.43

Current liabilities

Financial Liabilities

Borrowings

323.87

303.78

Lease Liabilities

0.96

1.29

Trade payables

Total outstanding dues of Micro and Small Enterprises

2.26

1.82

12.25

6.25

Total outstanding dues of creditors other than Micro and Small Enterprises

44.66

68.59

450.52

609.77

Other financial liabilities

84.64

74.24

297.94

248.83

Other current liabilities

7.05

35.15

492.53

430.47

Provisions

3.70

2.98

15.37

15.21

Current Tax Liabilities

103.15

92.00

142.30

182.78

1,696.60

1,707.61

Total Liabilities

737.78

708.85

4,151.79

3,930.55

Place : Mumbai

Date : 13th November, 2025

For Ashapura Minechem Limited

HEMUL Digitally signed by HEMUL RAMESH SHAH

RAMESH SHAH Date: 2025.11.13 18:08:27

+05'30'

Hemul Shah

Executive Director & CEO

ASHAPURA MINECHEM LIMITED

STANDALONE CASH FLOW STATEMENT FOR THE HALF YEAR ENDED 30th September, 2025

(₹ in Cr )

Particulars	As at 30th Sep 2025		As at 30th Sep 2024
A CASH FLOW FROM OPERATING ACTIVITIES :
Net Profit for the year		94.35		38.19
Adjustments for -
Depreciation and amortization	4.99		4.74
Income tax expenses	(24.64)		(4.71)
Loss / (profit) on sale of investment	(0.24)		(0.08)
Loss / (profit) on sale of property, plant & equipment	0.19		0.14
Reversal of impairment Loss /(profit )recognised on receivables	5.74		1.51
Dividend	(1.86)		(1.87)
Interest	4.55		3.02
Operating profit before working capital changes	(11.28)		2.75
Adjustments for -
Trade and other receivables	(31.75)		(63.26)
Other current and non-current assets	23.87		0.04
Inventories	(0.34)		(3.97)
Provisions	0.45		(1.70)
Other current and non-current liabilities	(28.10)		16.29
Trade and other payables	(33.63)		0.09
Cash generated from operations	(69.48)		(52.50)
Direct taxes paid (Refund)	(1.37)	(82.14)	(2.47)	(52.22)
		-
NET CASH FROM OPERATING ACTIVITIES		12.21		(14.03)
B CASH FLOW FROM INVESTING ACTIVITIES :
Payments for property, plant & equipment	(2.25)		(2.34)
Net cash flow on purchase of investments	(0.83)		(9.92)
(Loan granted)/repayment received	2.62		(3.56)
(Deposit created) / Deposit matured	(0.16)		0.39
Dividend received	1.86		1.87
Interest received	1.43		1.07

NET CASH USED IN INVESTING ACTIVITIES		2.67		(12.49)
C CASH FLOW FROM FINANCING ACTIVITIES :
Proceeds from loans borrowed (net)	-		11.70
Repayments of borrowings	(4.22)		(12.71)
Proceeeds from issue of share Capital	-		29.07
Interest paid	(5.98)		(4.75)

NET CASH USED IN FINANCING ACTIVITIES		(10.20)		23.30

Net Increase in Cash and Cash Equivalents		4.69		(3.22)
Cash and cash equivalents as at beginning of the year		19.11		13.79
Cash and cash equivalents as at end of the year		23.80		10.57

For Ashapura Minechem Limited

RAMESH SHAH

HEMUL

Digitally signed by HEMUL RAMESH SHAH

Date: 2025.11.13

18:09:06 +05'30'

Place : Mumbai Hemul Shah Date : 13th November, 2025 Executive Director & CEO

ASHAPURA MINECHEM LIMITED

CONSOLIDATED CASH FLOW STATEMENT FOR THE HALF YEAR ENDED 30th September, 2025

(₹ in Cr )

Particulars

As at 30th Sep 2025

As at 30th Sep 2024

CASH FLOW FROM OPERATING ACTIVITIES :

Net profit for the year

219.89 102.94

Adjustments for -

Depreciation and amortization

63.66 36.54

Income tax expenses

(6.82) (2.26)

Loss / (profit) on sale of property, plant & equipment

0.19 0.14

Share of profit from associate/joint venture

(16.96) (17.19)

Loss / (profit) on sale/disposal of investments

(0.32) (0.53)

Impairment loss/(profit) recognised on trade receivables (net)

6.61 1.03

Exchange rate adjustments on foreign currency translation (net)

(12.06) (2.04)

Dividend

(0.02) (0.02)

Interest

58.60 34.16

Operating profit before working capital changes

92.88 49.84

Adjustments for -

Trade and other receivables

(58.39) (280.85)

Other current and non-current assets

(62.98) (121.46)

Inventories

146.80 85.55

Provisions

(0.02) (3.75)

Other current and non-current liabilities

62.06 25.51

Trade and other payables

(162.33) 136.06

Cash generated from operations

(74.87) (158.93)

Direct taxes paid (net)

(15.83) 2.18 (12.06) (121.16)

NET CASH FROM OPERATING ACTIVITIES

222.07

(18.23)

CASH FLOW FROM INVESTING ACTIVITIES :

Payments for property, plant & equipment

(74.17)

(170.08)

Redemption/(investments) in other fixed deposits

(0.24)

0.23

Loan (given)/repayment received

(1.80)

(0.05)

Net cash flow on (purchase)/sale of investments

(4.29)

(13.71)

Proceeds from sale of property, plant & equipment

3.51 -

Dividend received

0.02

Interest received

1.33 1.17

NET CASH USED IN INVESTING ACTIVITIES

(75.64)

(182.42)

CASH FLOW FROM FINANCING ACTIVITIES :

Proceeds from borrowings

65.09

183.53

Repayment/Increase in lease liabilities

(0.45)

(0.65)

Proceeds From Issuse of Share Capital

29.07

Interest paid

(22.27)

(13.30)

Dividend Paid

- -

NET CASH USED IN FINANCING ACTIVITIES

42.37

198.64

Net Increase in Cash and Cash Equivalents

188.80

(2.01)

Cash and cash equivalents as at beginning of the year

109.35

134.62

Cash and cash equivalents as at end of the year

298.14

132.61

Place : Mumbai

Date : 13th November, 2025

For Ashapura Minechem Limited

HEMUL Digitally signed by HEMUL RAMESH SHAH

RAMESH SHAH Date: 2025.11.13

18:09:34 +05'30'

Hemul Shah

Executive Director & CEO

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