Ashima Limited (IN:ASHIMASYN)
:ASHIMASYN
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Ashima Limited
(ASHIMASYN)
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Rating:40Underperform
Price Target:
₹12.50
▼(-36.13% Downside)
Action:DowngradedDate:03/31/26
The score is driven primarily by weak financial performance, especially persistent negative operating/free cash flow and recent net losses, with only partial support from a comparatively steadier balance sheet. Technical indicators add further pressure as price is below key moving averages with negative MACD and weak momentum. Valuation is also unattractive in context because the negative P/E reflects ongoing losses and there is no dividend yield support provided.
Positive Factors
Strong equity base
A strong equity ratio provides a durable solvency buffer against cyclical textile demand and recent losses. This equity base supports continued operations, access to credit, and capital spending capacity over months, reducing short-term insolvency risk while management restores profitability.
Negative Factors
Persistent negative operating cash flow
Consistently negative operating cash flow erodes liquidity and forces reliance on external financing or equity to fund working capital and capex. Over a multi-month horizon this undermines operational resilience, limits ability to invest in efficiency improvements, and increases solvency risk if losses persist.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong equity base
A strong equity ratio provides a durable solvency buffer against cyclical textile demand and recent losses. This equity base supports continued operations, access to credit, and capital spending capacity over months, reducing short-term insolvency risk while management restores profitability.
Read all positive factors
Ashima Limited (ASHIMASYN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹2.50B
Dividend YieldN/A
Average Volume (3M)15.66K
Price to Earnings (P/E)―
Beta (1Y)1.73
Revenue Growth-95.41%
EPS Growth-121.35%
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
Negative
19.57
Price Trends
15.27
Negative
17.03
Negative
21.05
Negative
Market Momentum
-0.77
Positive
42.25
Neutral
39.97
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ASHIMASYN, the sentiment is Negative. The current price of 19.57 is above the 20-day moving average (MA) of 13.68, above the 50-day MA of 15.27, and below the 200-day MA of 21.05, indicating a bearish trend. The MACD of -0.77 indicates Positive momentum. The RSI at 42.25 is Neutral, neither overbought nor oversold. The STOCH value of 39.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 | ₹4.01B | 19.34 | ― | ― | 13.84% | 4.13% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
62 Neutral | ₹3.58B | 7.04 | ― | 0.88% | 5.59% | -5.44% | |
62 Neutral | ₹969.89M | 13.04 | ― | 0.42% | 13.13% | -2.13% | |
56 Neutral | ₹1.93B | -23.74 | ― | 1.72% | 6.00% | -19.96% | |
46 Neutral | ₹3.11B | 497.66 | ― | ― | 5.66% | ― | |
40 Underperform | ₹2.50B | -33.58 | ― | ― | -95.41% | -121.35% |
* Consumer Defensive Sector Average
IN:ASHIMASYN
Ashima Limited
13.06
-7.49
-36.45%
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IN:LAMBODHARA
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-27.83%
Ashima Limited Corporate Events
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.