Ashapura Minechem Ltd

Financial Performance

• Revenue: INR 1,616 crores in Q1 FY27; up 19.2% YoY.
• EBITDA: INR 188.9 crores; margin 11.7% in Q1 FY27.
• PBT: INR 130.03 crores in Q1; vs INR 131.84 crores prior year.
• EPS: INR 12.07 in Q1 FY27; vs INR 11.50 in Q1 FY26.
• Guinea turnover: INR 1,360 crores (84% of consolidated turnover).
• Guinea EBITDA: INR 163 crores in the quarter.

Operational Highlights

• Guinea bauxite volumes: 2.34 MT in Q1; 3.16 MT in Q4; 2.05 MT Q1 FY26.
• EBITDA per ton: 6.3 in Q1; 5.9 per ton in Q4.
• Freight rates remain volatile; expected to continue through 2027.
• Boffa port capacity raised to 8 MTpa.
• GSM port jetty under construction; target 10 MTpa by Q4 FY27.
• Total port capacity ~23 MTpa when expansions complete.
• Bauxite washing plant: 20,000 tonnes per day; improves volume and grade.
• Iron ore: commercialization underway; two quarters to signal direction; 15 MT target by FY28.
• India operations: focus on premium products; Bentonite, White minerals; Orient Ceratech JV.

Capex and Capacity

• Washery investment: USD 15 million; BOT/operate-and-transfer model; not on balance sheet.
• World's largest bentonite grinding capacity; >1 million tonnes.

Guidance and Outlook

• 15 MT target by FY28; on track.
• Full-year target with +/- 10% variation.
• Guinea export quota expected before year-end; positive for prices and freight.
• EBITDA per ton near USD 6 in near term; improvement expected in next calendar year.
• Iron ore: two quarters to decide long-term direction.

Q&A Takeaways

• Quota system timing: expected by year-end; tailwind if implemented.
• FY28 15 MT target on track.
• Washery investment USD 15m; BOT model; not on balance sheet.
• EBITDA per ton guidance: around USD 6; potential improvement next year.
• Freight volatility persists; washing plants help maintain EBITDA.

Meeting Details

• Date and time: 19 August 2026, 04:00–04:49 IST; audio earnings conference call.
• Organiser: Ashapura Minechem Ltd; earnings call for Q1 FY2027.

Participants

• Key company participant: Company Secretary & President (Corporate Affairs).

Purpose

• Discuss operational and financial performance for Q1 FY2027.

Additional Notes

• Audio recording available on the company's website.
• Discussion used publicly available documents; no unpublished price sensitive information shared.

Meeting Details

• Date and time: Wednesday, 19 August 2026, 4:00–4:45 PM IST
• Mode: group virtual teleconference (earnings conference call)

Organiser

• Event: Earnings Conference Call hosted by Ashapura Minechem Limited

Participants

• Promoter & Director
• Promoter Group
• Chief Financial Officer
• Company Secretary & President, Corporate Affairs

Purpose

• Discuss Q1 FY2027 operational and financial performance

Availability

• Invitation available on company website; no recording details provided

Subsidiary dissolution

• Ashapura Holdings Fareast Pte. Ltd., Singapore, a step-down subsidiary, has been dissolved.
• Subsidiary had not been operational prior to dissolution.
• Dissolution completed after winding-up proceedings were completed.
• Effective dissolution date: 12 August 2026.
• Board initiated voluntary liquidation on 14 February 2025.

Financial results and reports

• Approved unaudited standalone and consolidated results for quarter ended 30 June 2026.
• Limited Review Reports for standalone and consolidated results taken on record.
• Press release issued; results available on company website.

Consolidated results snapshot

• Consolidated Q1 FY2026-27: Revenue ₹1616.1 cr, EBITDA ₹188.9 cr, PBT ₹130.0 cr.

Operational and geographic updates

• Guinea operations: Boffa Port capacity 8 Mio MT p.a.; 20k MT/day washing plant operational.
• India business margins expected to normalize as geopolitical tensions ease.

Segment governance and auditor notes

• Minerals identified as primary reportable segment; no separate segment info provided.
• Audit Committee reviewed results; statutory auditors performed limited review with no material misstatement observed.

Investor relations and disclosures

• Quarterly investor complaints: Received 4, Resolved 4, Unresolved 0.

Transaction details

• Target: Ashapura Minechem Ltd; Disclosing party: Albula Investment Fund Ltd (non-promoter).
• Pre-transaction holding: 5,457,017 shares (5.7126%).
• Post-transaction holding: 3,339,934 shares (3.4964%).
• Transaction type: Disposal of voting rights; 2,117,083 shares sold (2.2162%).
• Mode: Open market; multiple dates through 05 Aug 2026.
• Transaction dates: includes 13/09/2022, 14/09/2022, 15/09/2022, 22/01/2026, 23/01/2026.
• More dates: 27/01/2026, 28/01/2026, 10/02/2026, 11/02/2026, 12/02/2026.
• Dates continued: 13/02/2026, 16/02/2026, 17/02/2026, 18/02/2026, 19/02/2026.
• Later dates: 20/02/2026, 23/02/2026, 24/02/2026, 27/02/2026, 29/07/2026, 05/08/2026.
• Equity share capital before/after: 95,526,098 shares.
• Total diluted share/voting capital: 95,526,098 shares.

Key disclosures

• Target: Ashapura Minechem Ltd.
• Acquirer: Eriska Investment Fund Ltd.
• Event date: 05 August 2026.
• Exchange listing: BSE (Bombay Stock Exchange).

Meeting Details

• Board meeting on 7 August 2026; time and venue not disclosed.

Key Agenda Items

• Consider unaudited Standalone and Consolidated financial results (provisional) for quarter ended 30 June 2026.

Purpose and resolutions

• Two ordinary resolutions to approve material related party transactions between AHUF and Minex, and AHUF and SGMF.

Resolutions details

• Item 1: AHUF-Minex related party transaction up to Rs 3,54,000 Lakhs for FY 2026-27, at arm's length.
• Item 2: AHUF-SGMF related party transaction up to Rs 32,500 Lakhs for FY 2026-27, at arm's length.

Expected outcome

• Results pending; postal ballot voting period August 2–31, 2026; results to be announced by Sept 2, 2026.

Material impact

• Material RPTs may affect governance and financials due to large value relative to turnover.

Terms and governance

• RPTs to be carried out in ordinary course, at arm's length, as per Audit Committee approval.