Ashima Limited (IN:ASHIMASYN)
:ASHIMASYN
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Ashima Limited
(ASHIMASYN)
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Rating:44Neutral
Price Target:
₹15.50
▼(-20.80% Downside)
Action:UpgradedDate:04/22/26
Overall score is constrained primarily by weak financial performance—especially ongoing negative operating/free cash flow and inconsistent profitability—while technicals are only neutral-to-mixed and valuation is difficult to justify with negative earnings and no dividend yield support.
Positive Factors
Strong equity base
Moderate leverage and a strong equity ratio give Ashima a financial buffer against losses and liquidity shocks. This supports capital spending and working-capital needs without immediate refinancing, providing durable balance-sheet stability over the next several months despite operating volatility.
Negative Factors
Negative operating and free cash flow
Operating cash flow has been consistently negative, and free cash flow is also negative. Persistent cash burn forces reliance on external financing or equity, limiting strategic flexibility, raising refinancing risk, and constraining investments needed to stabilize operations over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong equity base
Moderate leverage and a strong equity ratio give Ashima a financial buffer against losses and liquidity shocks. This supports capital spending and working-capital needs without immediate refinancing, providing durable balance-sheet stability over the next several months despite operating volatility.
Read all positive factors
Ashima Limited (ASHIMASYN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹3.08B
Dividend YieldN/A
Average Volume (3M)15.66K
Price to Earnings (P/E)―
Beta (1Y)1.53
Revenue Growth-91.91%
EPS Growth-113.73%
CountryIN
Employees239
SectorConsumer Defensive
Sector Strength42
IndustryApparel - Manufacturers
Share Statistics
EPS (TTM)-0.14
Shares Outstanding191,660,080
10 Day Avg. Volume14,401
30 Day Avg. Volume15,656
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)1.21
Price to Sales (P/S)34.59
P/FCF Ratio-17.98
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Ashima Limited Business Overview & Revenue Model
Company Description
Ashima Limited manufactures and sells denim fabrics and readymade garments in India. It offers basic denim; ring/slub denim; pigment/discharged print; polyester denim; and piece-dyed product, including basic twills, plain weave, canvas, and satin;...
How the Company Makes Money
Ashima Limited primarily makes money by selling textile fabrics and related textile products manufactured by the company. Revenue is generated through business-to-business sales to garment makers, apparel brands, wholesalers, and other textile sup...
Ashima Limited Financial Statement Overview
Summary
Income Statement
40
Negative
Balance Sheet
55
Neutral
Cash Flow
30
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 97.60M | 104.80M | 3.29B | 2.07B | 2.08B | 1.03B |
| Gross Profit | -79.90M | 109.80M | 1.37B | 494.40M | 890.70M | 367.30M |
| EBITDA | -19.85M | 71.90M | 706.40M | -13.10M | 312.50M | 77.30M |
| Net Income | -189.10M | -190.00M | 964.10M | -66.50M | 179.20M | -114.70M |
Balance Sheet | ||||||
| Total Assets | 5.69B | 5.02B | 5.44B | 3.20B | 3.18B | 2.69B |
| Cash, Cash Equivalents and Short-Term Investments | 1.66B | 920.00M | 670.10M | 239.70M | 271.10M | 528.10M |
| Total Debt | 1.68B | 1.22B | 1.24B | 327.10M | 181.50M | 227.20M |
| Total Liabilities | 2.81B | 2.04B | 2.27B | 998.90M | 914.10M | 599.90M |
| Stockholders Equity | 2.88B | 2.99B | 3.17B | 2.20B | 2.26B | 2.09B |
Cash Flow | ||||||
| Free Cash Flow | 3.40M | -201.60M | -436.10M | -421.40M | -367.80M | -88.70M |
| Operating Cash Flow | 12.10M | -198.60M | -384.40M | -239.10M | -264.00M | -80.40M |
| Investing Cash Flow | -940.70M | 294.40M | -35.40M | 160.20M | 374.50M | -72.40M |
| Financing Cash Flow | 416.50M | -97.20M | 864.50M | 132.20M | -55.40M | 134.00M |
Ashima Limited Technical Analysis
Positive
19.57
Price Trends
14.91
Negative
16.53
Negative
20.44
Negative
Market Momentum
-0.02
Negative
53.20
Neutral
68.05
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ASHIMASYN, the sentiment is Positive. The current price of 19.57 is above the 20-day moving average (MA) of 13.78, above the 50-day MA of 14.91, and below the 200-day MA of 20.44, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 53.20 is Neutral, neither overbought nor oversold. The STOCH value of 68.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:ASHIMASYN.
Ashima Limited Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ₹4.36B | 19.34 | ― | ― | 9.99% | 0.37% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
62 Neutral | ₹4.10B | 7.04 | ― | 0.88% | 2.69% | 3.30% | |
62 Neutral | ₹1.10B | 13.04 | ― | 0.42% | 7.16% | 0.66% | |
56 Neutral | ₹2.47B | -23.74 | ― | 1.72% | 4.79% | -24.74% | |
46 Neutral | ₹3.20B | 497.66 | ― | ― | -8.80% | ― | |
44 Neutral | ₹3.08B | -33.58 | ― | ― | -91.91% | -113.73% |
* Consumer Defensive Sector Average
IN:ASHIMASYN
Ashima Limited
16.07
-13.39
-45.45%
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IN:LAMBODHARA
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106.38
-25.63
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IN:ORBTEXP
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164.35
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-4.61%
IN:SHREYANIND
Shreyans Industries Limited
178.35
3.22
1.84%
IN:VARDMNPOLY
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6.98
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-37.23%
Ashima Limited Corporate Events
Ashima Promoters Report No Share Pledges for FY 2026
Apr 9, 2026
Promoter Chintan N. Parikh has informed the stock exchanges that neither he nor the wider promoter group and persons acting in concert have created any encumbrance on their shareholding in Ashima Limited during the financial year ended 31 March 20...
Ashima Partially Redeems Unlisted NCDs via Call Option
Mar 19, 2026
Ashima Limited has exercised its call option for a partial early redemption of its unlisted, secured, unrated, rupee-denominated non-convertible debentures issued under debenture trust deeds dated March 16, 2023, and April 18, 2024. The company wi...
Ashima Limited Closes Trading Window Ahead of Board Meeting Outcome
Feb 19, 2026
Ashima Limited has announced the closure of its trading window for insiders, designated persons, connected persons and their immediate relatives starting 19 February 2026. The window will remain closed until 48 hours after the outcome of the board...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.