Mining company Ashapura Minechem announced Q4FY23 & FY23 results: As compared to Q4FY22,on a consolidated basis, the company's revenues in Q4FY23 increased by 109%, whereas the Profit After Tax for Q4FY23 increased by 226%. As compared to FY22, on a consolidated basis, the company's revenues in FY23 increased by 40%, whereas the Profit After Tax for FY23 increased by 27%. All business segments of the Company have largely performed well resulting in higher revenues and profits for the company on a consolidated basis. Based on the current market scenario, the company intends to increase its Bauxite exports from Q3 of the current financial year after a relatively muted Q2 anticipated on account of the heavy rainy season in Guinea. Result PDF
Mining firm Ashapura Minechem announced Q3FY23 results: Consolidated Q3FY23: As compared to Q3FY22, The Company's revenues in Q3FY23 increased by 114.29%, whereas the Profit After Tax for Q3FY23 was Rs 29.21 crore, versus a loss of Rs 21.72 crore in Q3FY22. The Company has performed well on the back of Bauxite exports from Guinea which we seek to sustainably replicate in the following quarters. The Company is in the process of commencing operations from its 2nd Bauxite mine in Guinea, which will substantially improve export volumes and value. The Company’s performance has also been positively impacted on account of strong sales of Bentonite, Kaolin and other value-added products. Ashapura also remains well poised to participate in the improving metal ore market. Result PDF
Ashapura Minechem declares Q4FY22 result: As compared to the previous financial year, on a consolidated basis, the Company's revenues in FY 2021-22 increased by 14%, whereas the Profit After Tax for FY 2021- 22 was Rs. 80.71 crores versus a profit Rs. 88.01 crores in the previous financial year. Dividend: The Company has declared a Dividend of 25% out of retained earnings for FY 2021-22 in order to maintain a consistent Dividend policy. While the Company's performance throughout FY 2001-22 was impacted by the acute & persistent rise in the global freight bulks and container rates, the fourth quarter was particularly affected by: Logistical Bottlenecks in availability of ships, barges and ancillary equipment at viable rates along the companies supply routes. Muted demand on account of the Omicron wave in China since January 2022. China is a major market for the Company's minerals and products. Softening global prices in ores and minerals. Kaolin: The Company has emerged as the largest manufacturer of Kaolin and value added Kaolin products in India. Ashapura has leveraged its in-house expertise and decades of experience to become a preferred supplier of coating and filler solutions to paint, paper, fibre glass and ceramic companies in India and the middle-east. FY 2022-23, the Company looks forward to consolidating its dominance in the Indian white fillers market. Multiple Bauxite hubs in Guinea: The Company looks forward to augmenting its supplies from multiple Bauxite hubs in Guinea in FY 2022-23. The Company has also signed long-term supply contacts for the supply of Bauxite & Iron Ore with highly reputable companies to maintain sustainable long-term growth. Result PDF