Ashapura Minechem Ltd., a mining company specializing in Bentonite, Kaolin, and Bauxite, released its financial results for the fourth quarter of FY24 (Q4FY24) and the full fiscal year 2024 (FY24).
Q4FY24 Financial Highlights (Consolidated):
Profit After Tax (PAT): Increased by 69.31% to ₹67.37 crore compared to Q4FY23.
FY24 Financial Highlights (Consolidated):
Revenue: Increased by 41.66% compared to FY23.
Profit After Tax (PAT): Increased by 156.72% to ₹281.70 crore compared to FY23.
Bauxite Sales: Scaled up significantly in FY24 despite challenges in Guinea.
Other Business Segments: Bentonite, Kaolin, and Bleaching Clay performed well, contributing to higher revenues and profits.
Dividend: No dividend declared for FY24 due to insufficient accumulated reserves, but the company expressed its desire to reward shareholders in the forthcoming quarters.
New Port in Guinea: Completed construction of a new port in Boffa, Guinea, which is expected to significantly enhance Bauxite export volumes in FY25.
Key Takeaways:
Strong financial performance in FY24, with significant growth in revenue and PAT.
Bauxite sales from Guinea played a crucial role in driving revenue growth, despite challenges.
Other business segments also performed well, contributing to the overall positive results.
The company is optimistic about future growth prospects, particularly with the new port in Guinea operational.
For more detailed analysis and information, you can refer to the following resources:
ICICI Direct Analysis: https://www.icicidirect.com/research/equity/rapid-results/ashapura-minechem-ltd
5paisa Share Price: https://www.5paisa.com/stocks/ashapurmin-share-price
Ashapura Minechem Financial Highlights: https://www.ashapura.com/financial-highlights.php
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