ASHAPURA MINECHEM LTD
Add to watch list to get report alerts
BSE Code:
527001
NSE Code:
ASHAPURMIN
Business Profile
Business Profile
Ashapura Minechem (ASHAPURA) manufactures, mines and processes industrial minerals like bentonite, bauxite, barites and value-added products like kaolin, bleaching clay, calcined bauxite and geosynthetic clay liners. Promoted by Navintal R. Shah (executive chairman), the company was incorporated in 1982 as a private limited company and went public in 1993. The managing director is Chetan N. Shah.
The company is extending business to other minerals like iron ore, feldspar, and mica. It is among the five largest bentonite producers in the world with volumes more than 5 million tons. Bauxite volumes are 3.85 million tons. The bleaching clay plant capacity has doubled to 50,000 tons. Subsidiaries include Bombay Minerals, Ashapura International, Ashapura Claytech, and Ashapura Minechem (UAE) FZE. The company owns 50% equity of Ashapura Volclay, a joint venture with American Colloid Company (AMCO), to manufacture value-added bentonite products. Associates include Crystal Nanoclay, Hudson MPA SDN BHD, and Ashapura AMCOL NIV. New projects include setting up of the Rs 25,000 million alumina refinery project in Kutch, Gujarat; setting up a 180,000 tons per annum processing plant in Kerala to produce calcined and spray dried kaolin estimated to cost Rs.800 million. Trials will start by 2007.
It is the largest exporter of bentonite and bauxite from India. It has a marketing tie-up with Mitsubishi Corporation, Japan for sales in Brazil, Venezuela and countries in Europe. The company plans to consolidate its operations in mining and shipping businesses to become the only fully integrated mining company in the world. Through subsidiaries, it has obtained leases in Nigeria and mineral processing and warehousing facilities in Antwerp for better distribution to European Union markets.
The registered office is at Jeevan Udyog Building, 3rd Floor, 278, D. N. Road, Fort, Mumbai-400001.
Financials
Ashapura Minechem registered a 53.92% growth in net profit to Rs 325.7 million for the quarter ended June 2007 from a profit of Rs 211.6 million for the quarter ended June 2006.
Net sales rose 28.45% to Rs 3,463.3 million for the quarter ended June 2007 from Rs 2,696.3 million for the quarter ended June 2006.
Total income rose 28.73% to Rs 3,472.3 million for the quarter ended June 2007 from Rs 2,697.3 million for the quarter ended June 2006.
The earnings per share (EPS) of the company stood at Rs 8.33 for the quarter ended June 2007.
Recent Developments
18-JUN-07
Ashapura Minechem is palnning to infuse around Rs 1.5 billion in its various projects, reports Economic Times. The company will investing in the projects including its mining plant in Nigeria and white clay processing unit in Kerala.Of the total Rs 1.5 billion, the company will invest Rs 350 million in the first year. Further it will invest Rs 800 million for its Kerala project, where it will produce 200,000 ton processed white clay. The company`s entered into an collaboration with US based company Amcol for setting up a 100,000 ton kaolin processing plant in Belgium. In 1999, Amcol acquired 20% stake in the company.
Future Plans
AML plans to set up a 50,000 tons alumina refinery scaleable to 1 million. The proposed project will be set up in Kutch, Gujarat at an estimated cost of USD 600 million in two phases.