New Risk • Jun 04
New major risk - Revenue and earnings growth Earnings have declined by 34% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 34% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Market cap is less than US$100m (₹1.54b market cap, or US$16.0m). New Risk • Jun 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Share price has been volatile over the past 3 months (9.5% average weekly change). Market cap is less than US$100m (₹1.56b market cap, or US$16.4m). Annonce • May 20
ASL Industries Limited to Report Fiscal Year 2026 Results on May 26, 2026 ASL Industries Limited announced that they will report fiscal year 2026 results on May 26, 2026 New Risk • Mar 21
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹937.0m (US$10.00m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Revenue is less than US$1m. Market cap is less than US$10m (₹937.0m market cap, or US$10.00m). Board Change • Mar 06
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Non-Executive Independent Director Yatish Poojary was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Nov 14
ASL Industries Limited to Report First Half, 2026 Results on Nov 14, 2025 ASL Industries Limited announced that they will report first half, 2026 results on Nov 14, 2025 Board Change • Nov 10
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Non-Executive Independent Director Yatish Poojary was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Sep 02
ASL Industries Limited, Annual General Meeting, Sep 27, 2025 ASL Industries Limited, Annual General Meeting, Sep 27, 2025, at 12:00 Indian Standard Time. New Risk • Jun 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.5% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.5% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (₹482.8m market cap, or US$5.63m). Minor Risk Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). New Risk • May 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Revenue is less than US$1m. Market cap is less than US$10m (₹492.7m market cap, or US$5.76m). Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Share price has been volatile over the past 3 months (9.3% average weekly change). New Risk • Jan 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 8.9% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.9% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (₹384.4m market cap, or US$4.45m). Annonce • Aug 29
ASL Industries Limited, Annual General Meeting, Sep 27, 2024 ASL Industries Limited, Annual General Meeting, Sep 27, 2024, at 12:30 Indian Standard Time. Location: 1st floor, punwani chambers, 7b kiran shankar roy rd., kolkata, west bengal- 700001., kolkata India Annonce • Aug 28
ASL Industries Limited Announces Board Changes The board of directors of ASL Industries Limited meeting held on August 27, 2024, the board took note of the resignation of Mrs. Jayshree Goyal as Non-Executive Director, pursuant to share purchase agreement dated September 27, 2023 with effect from August 27, 2024. The Board has taken into consideration the appointment of Mr. Kiran Dilip Thakore as a Non-Executive, Non-Independent Additional Director with effect from August 27, 2024. Mr. Kiran Thakore possesses over two decades of extensive experience in business administration, logistics, human resources, and operations. Additionally, he has provided consultancy services to numerous businesses, leveraging his expertise to drive their success. New Risk • Jun 17
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 28% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Revenue is less than US$1m. Market cap is less than US$10m (₹580.8m market cap, or US$6.95m). Minor Risk Large one-off items impacting financial results. New Risk • May 26
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Revenue is less than US$1m. Market cap is less than US$10m (₹582.3m market cap, or US$7.01m). Minor Risk Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹50.80, the stock trades at a trailing P/E ratio of 38.7x. Average trailing P/E is 22x in the Metals and Mining industry in India. Total returns to shareholders of 217% over the past three years. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹80.00, the stock trades at a trailing P/E ratio of 61x. Average trailing P/E is 24x in the Metals and Mining industry in India. Total returns to shareholders of 371% over the past three years. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹63.00, the stock trades at a trailing P/E ratio of 48x. Average trailing P/E is 25x in the Metals and Mining industry in India. Total returns to shareholders of 271% over the past three years. Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹50.70, the stock trades at a trailing P/E ratio of 38.7x. Average trailing P/E is 25x in the Metals and Mining industry in India. Total returns to shareholders of 316% over the past three years. Valuation Update With 7 Day Price Move • Nov 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹37.50, the stock trades at a trailing P/E ratio of 28.6x. Average trailing P/E is 21x in the Metals and Mining industry in India. Total returns to shareholders of 271% over the past three years. Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹25.00, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 19x in the Metals and Mining industry in India. Total returns to shareholders of 355% over the past three years. Board Change • Sep 18
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Murari Khandelwal was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Buying Opportunity • Aug 08
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 19%. The fair value is estimated to be ₹22.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 44% over the last 3 years. Earnings per share has grown by 54%. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹19.75, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 16x in the Metals and Mining industry in India. Total returns to shareholders of 316% over the past three years. Board Change • Jul 31
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Murari Khandelwal was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Jun 15
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Murari Khandelwal was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Apr 26
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Murari Khandelwal was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 23
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Murari Khandelwal was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 02
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Murari Khandelwal was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Feb 15
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Murari Khandelwal was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jan 06
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Murari Khandelwal was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 01
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Murari Khandelwal was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 06
First half 2023 earnings released: EPS: ₹0.72 (vs ₹0.49 in 1H 2022) First half 2023 results: EPS: ₹0.72 (up from ₹0.49 in 1H 2022). Revenue: ₹12.1m (up 28% from 1H 2022). Net income: ₹7.49m (up 47% from 1H 2022). Profit margin: 62% (up from 54% in 1H 2022). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₹24.45, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 14x in the Metals and Mining industry in India. Total returns to shareholders of 14% over the past year. Board Change • Aug 30
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Murari Khandelwal was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jun 05
Full year 2022 earnings released: EPS: ₹1.45 (vs ₹0.33 in FY 2021) Full year 2022 results: EPS: ₹1.45 (up from ₹0.33 in FY 2021). Revenue: ₹82.0m (down 22% from FY 2021). Net income: ₹15.1m (up 340% from FY 2021). Profit margin: 19% (up from 3.3% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Board Change • Apr 28
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Murari Khandelwal was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 21% share price gain to ₹36.45, the stock trades at a trailing P/E ratio of 24.5x. Average trailing P/E is 12x in the Metals and Mining industry in India. Total returns to shareholders of 46% over the past three years. Recent Insider Transactions • Dec 16
Insider recently sold ₹15m worth of stock On the 13th of December, Akshay Goyal sold around 460k shares on-market at roughly ₹31.55 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹31m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improved over the past week After last week's 17% share price gain to ₹27.30, the stock trades at a trailing P/E ratio of 18.3x. Average trailing P/E is 11x in the Metals and Mining industry in India. Total returns to shareholders of 30% over the past three years. Recent Insider Transactions • Nov 03
MD, CFO & Executive Director recently sold ₹2.4m worth of stock On the 1st of November, Ankit Goyal sold around 100k shares on-market at roughly ₹23.74 per share. This was the largest sale by an insider in the last 3 months. This was Ankit's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Oct 22
Investor sentiment improved over the past week After last week's 18% share price gain to ₹21.60, the stock trades at a trailing P/E ratio of 65.3x. Average trailing P/E is 12x in the Metals and Mining industry in India. Total returns to shareholders of 213% over the past year. Board Change • Sep 30
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Murari Khandelwal was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 17
Market bids up stock over the past week After last week's 21% share price gain to ₹9.65, the stock is trading at a trailing P/E ratio of 6.8x, up from the previous P/E ratio of 5.6x. This compares to an average P/E of 12x in the Metals and Mining industry in India. Total return to shareholders over the past three years is a loss of 67%.