New Risk • Jul 01
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 9.9% 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 (9.9% average weekly change). High level of non-cash earnings (40% accrual ratio). Shareholders have been substantially diluted in the past year (163% increase in shares outstanding). Market cap is less than US$10m (₹840.4m market cap, or US$8.88m). Minor Risks Profit margins are more than 30% lower than last year (1.9% net profit margin). Revenue is less than US$5m (₹128m revenue, or US$1.4m). New Risk • Jun 02
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹941.2m (US$9.89m) 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 High level of non-cash earnings (40% accrual ratio). Shareholders have been substantially diluted in the past year (163% increase in shares outstanding). Market cap is less than US$10m (₹941.2m market cap, or US$9.89m). Minor Risks Share price has been volatile over the past 3 months (9.3% average weekly change). Profit margins are more than 30% lower than last year (1.9% net profit margin). Revenue is less than US$5m (₹128m revenue, or US$1.4m). Reported Earnings • May 28
Full year 2026 earnings released: EPS: ₹0.009 (vs ₹0.017 in FY 2025) Full year 2026 results: EPS: ₹0.009. Revenue: ₹153.9m (up 219% from FY 2025). Net income: ₹2.45m (up 45% from FY 2025). Profit margin: 1.6% (down from 3.5% in FY 2025). The decrease in margin was driven by higher expenses. Announcement • May 21
Ashnisha Industries Limited to Report Q4, 2026 Results on May 27, 2026 Ashnisha Industries Limited announced that they will report Q4, 2026 results on May 27, 2026 New Risk • May 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (163% increase in shares outstanding). Revenue is less than US$1m (₹84m revenue, or US$867k). Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Market cap is less than US$100m (₹1.10b market cap, or US$11.4m). New Risk • Mar 17
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹890.8m (US$9.64m) 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 Shareholders have been substantially diluted in the past year (163% increase in shares outstanding). Revenue is less than US$1m (₹84m revenue, or US$907k). Market cap is less than US$10m (₹890.8m market cap, or US$9.64m). Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: ₹0.002 (vs ₹0.001 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.002 (up from ₹0.001 in 3Q 2025). Revenue: ₹29.0m (up 7.8% from 3Q 2025). Net income: ₹602.0k (up ₹518.0k from 3Q 2025). Profit margin: 2.1% (up from 0.3% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 24 percentage points per year, which is a significant difference in performance. Announcement • Feb 07
Ashnisha Industries Limited to Report Q3, 2026 Results on Feb 14, 2026 Ashnisha Industries Limited announced that they will report Q3, 2026 results at 12:15 PM, Indian Standard Time on Feb 14, 2026 New Risk • Nov 17
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.6% Last year net profit margin: 5.1% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.3% average weekly change). Shareholders have been substantially diluted in the past year (163% increase in shares outstanding). Revenue is less than US$1m (₹81m revenue, or US$908k). Minor Risks Profit margins are more than 30% lower than last year (3.6% net profit margin). Market cap is less than US$100m (₹904.1m market cap, or US$10.2m). Reported Earnings • Nov 17
Second quarter 2026 earnings released: EPS: ₹0.005 (vs ₹0.001 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.005 (up from ₹0.001 in 2Q 2025). Revenue: ₹48.4m (up ₹41.5m from 2Q 2025). Net income: ₹551.0k (up ₹475.0k from 2Q 2025). Profit margin: 1.1% (in line with 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. New Risk • Nov 14
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 163% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (9.3% average weekly change). Shareholders have been substantially diluted in the past year (163% increase in shares outstanding). Revenue is less than US$1m (₹48m revenue, or US$536k). Minor Risk Market cap is less than US$100m (₹949.1m market cap, or US$10.7m). Announcement • Nov 13
Ashnisha Industries Limited has completed a Follow-on Equity Offering in the amount of INR 492.375 million. Ashnisha Industries Limited has completed a Follow-on Equity Offering in the amount of INR 492.375 million.
Security Name: Equity Shares
Security Type: Common Stock
Securities Offered: 164,125,000
Price\Range: INR 3
Transaction Features: Regulation S; Rights Offering New Risk • Nov 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Revenue is less than US$1m (₹48m revenue, or US$537k). Market cap is less than US$10m (₹400.0m market cap, or US$4.51m). Minor Risk Share price has been volatile over the past 3 months (6.8% average weekly change). Announcement • Nov 05
Ashnisha Industries Limited to Report Q2, 2026 Results on Nov 14, 2025 Ashnisha Industries Limited announced that they will report Q2, 2026 results on Nov 14, 2025 Announcement • Sep 08
Ashnisha Industries Limited has filed a Follow-on Equity Offering in the amount of INR 492.375 million. Ashnisha Industries Limited has filed a Follow-on Equity Offering in the amount of INR 492.375 million.
Security Name: Equity Shares
Security Type: Common Stock
Transaction Features: Regulation S; Rights Offering Reported Earnings • Jul 23
Full year 2025 earnings released: EPS: ₹0.017 (vs ₹0.095 in FY 2024) Full year 2025 results: EPS: ₹0.017 (down from ₹0.095 in FY 2024). Revenue: ₹48.3m (down 61% from FY 2024). Net income: ₹1.69m (down 82% from FY 2024). Profit margin: 3.5% (down from 7.7% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Announcement • Jul 09
Ashnisha Industries Limited, Annual General Meeting, Aug 12, 2025 Ashnisha Industries Limited, Annual General Meeting, Aug 12, 2025, at 15:30 Indian Standard Time. New Risk • Jun 07
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: ₹48m (US$563k) This is considered a major risk. Companies with a small amount of revenue 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (54% accrual ratio). Revenue is less than US$1m (₹48m revenue, or US$563k). Market cap is less than US$10m (₹344.4m market cap, or US$4.01m). Minor Risk Profit margins are more than 30% lower than last year (3.5% net profit margin). Reported Earnings • Jun 02
Full year 2025 earnings released: EPS: ₹0.017 (vs ₹0.095 in FY 2024) Full year 2025 results: EPS: ₹0.017 (down from ₹0.095 in FY 2024). Revenue: ₹106.2m (down 15% from FY 2024). Net income: ₹1.69m (down 82% from FY 2024). Profit margin: 1.6% (down from 7.7% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Announcement • May 23
Ashnisha Industries Limited to Report Q4, 2025 Results on May 30, 2025 Ashnisha Industries Limited announced that they will report Q4, 2025 results on May 30, 2025 Announcement • May 05
Ashnisha Industries Limited Appoints Payal Punit Pandya as Company Secretary and Compliance Officer, Effective May 3, 2025 Ashnisha Industries Limited announced the appointment of Mrs. Payal Punit Pandya as Company Secretary and Compliance Officer, effective May 03, 2025. The decision was taken during the Board of Directors meeting held on May 03, 2025. Mrs. Payal Punit Pandya is a Qualified Company Secretary. She has also done bachelor of commerce (B. Com.). She possesses knowledge of Company law, SEBI regulations and can handle the legal matters. New Risk • Mar 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.1% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Market cap is less than US$10m (₹360.6m market cap, or US$4.17m). Minor Risks Share price has been volatile over the past 3 months (8.1% average weekly change). Profit margins are more than 30% lower than last year (2.5% net profit margin). Revenue is less than US$5m (₹106m revenue, or US$1.2m). Announcement • Mar 01
Ashnisha Industries Limited Announces Regularization of Deepti Ghanshyam Gavali as Non-Executive Independent Director Ashnisha Industries Limited announced the Members of the Company have approved by passing special resolution through Postal Ballot (remote e-voting), the regularization of appointment of Mrs. Deepti Ghanshyam Gavali, as the Non-Executive Independent Director of the Company for a period of 5 (five) years effective December 13, 2024 to December 12, 2029. Mrs. Deepti Ghanshyam Gavali, aged 41 years, is a B.Sc. Graduate. She has an experience of more than 9 years of managing business ventures belonging to various industries. Her versati le management skills and expertise can transform the business model and strengthen the organizational roots. Reported Earnings • Feb 16
Third quarter 2025 earnings released: EPS: ₹0.001 (vs ₹0.02 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.001 (down from ₹0.02 in 3Q 2024). Revenue: ₹28.8m (up 173% from 3Q 2024). Net income: ₹84.0k (down 96% from 3Q 2024). Profit margin: 0.3% (down from 19% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 49% per year, which means it is well ahead of earnings. Announcement • Feb 15
Ashnisha Industries Limited Announces Resignation of Manjusha Rahul Salunke as Independent Director Ashnisha Industries Limited informed that Mrs. Manjusha Rahul Salunke has tendered her resignation from the post of Independent Director of the Company with effect from 15 February, 2025 due to personal reasons. New Risk • Nov 16
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Market cap is less than US$10m (₹477.7m market cap, or US$5.66m). Minor Risk Revenue is less than US$5m (₹97m revenue, or US$1.2m). Reported Earnings • Nov 16
Second quarter 2025 earnings released: EPS: ₹0.001 (vs ₹0.02 in 2Q 2024) Second quarter 2025 results: EPS: ₹0.001 (down from ₹0.02 in 2Q 2024). Revenue: ₹9.65m (down 53% from 2Q 2024). Net income: ₹76.0k (down 97% from 2Q 2024). Profit margin: 0.8% (down from 12% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 85% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 09
Ashnisha Industries Limited to Report Q2, 2025 Results on Nov 14, 2024 Ashnisha Industries Limited announced that they will report Q2, 2025 results on Nov 14, 2024 Buy Or Sell Opportunity • Oct 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to ₹4.80. The fair value is estimated to be ₹6.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 39%. Announcement • Sep 14
Ashnisha Industries Limited Announces Resignation of Kiritbhai Lshwarbhai Patel as Independent Director Ashnisha Industries Limited announced that Mr. Kiritbhai lshwarbhai Patel (DIN: 03618884) has tendered his resignation from post of Independent Director of the Company, effective September 14, 2024 due to personal reasons. Reported Earnings • Aug 15
First quarter 2025 earnings released: EPS: ₹0.005 (vs ₹0.032 in 1Q 2024) First quarter 2025 results: EPS: ₹0.005 (down from ₹0.032 in 1Q 2024). Revenue: ₹15.0m (down 41% from 1Q 2024). Net income: ₹508.0k (down 84% from 1Q 2024). Profit margin: 3.4% (down from 12% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has increased by 100% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 14
Ashnisha Industries Limited, Annual General Meeting, Sep 13, 2024 Ashnisha Industries Limited, Annual General Meeting, Sep 13, 2024, at 15:30 Indian Standard Time. Announcement • Aug 07
Ashnisha Industries Limited to Report Q1, 2025 Results on Aug 13, 2024 Ashnisha Industries Limited announced that they will report Q1, 2025 results on Aug 13, 2024 Reported Earnings • Jun 04
Full year 2024 earnings released: EPS: ₹0.10 (vs ₹0.13 in FY 2023) Full year 2024 results: EPS: ₹0.10. Revenue: ₹148.7m (down 24% from FY 2023). Net income: ₹9.56m (up 6.3% from FY 2023). Profit margin: 6.4% (up from 4.6% in FY 2023). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹7.11, the stock trades at a trailing P/E ratio of 71.1x. Average trailing P/E is 55x in the Electronic industry in India. Total returns to shareholders of 1,254% over the past three years. Announcement • May 19
Ashnisha Industries Limited to Report Q4, 2024 Results on May 29, 2024 Ashnisha Industries Limited announced that they will report Q4, 2024 results on May 29, 2024 Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹7.38, the stock trades at a trailing P/E ratio of 73.8x. Average trailing P/E is 52x in the Electronic industry in India. Total returns to shareholders of 1,515% over the past three years. Announcement • Mar 21
Ashnisha Industries Limited Announces Resignation of Daxaben M. Shah as Independent Director Ashnisha Industries Limited announced that Mrs. Daxaben M. Shah has tendered her resignation from the post of independent director of the company with effect from 19 March 2024 due to personal reasons. New Risk • Feb 07
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹798.5m (US$9.62m) 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 Risk Market cap is less than US$10m (₹798.5m market cap, or US$9.62m). Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Shareholders have been diluted in the past year (3.5% increase in shares outstanding). Significant insider selling over the past 3 months (₹13m sold). Revenue is less than US$5m (₹151m revenue, or US$1.8m). Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹7.79, the stock trades at a trailing P/E ratio of 77.9x. Average trailing P/E is 55x in the Electronic industry in India. Total returns to shareholders of 1,966% over the past three years. Recent Insider Transactions • Feb 06
Non-Executive Director recently sold ₹13m worth of stock On the 2nd of February, Shalin Shah sold around 2m shares on-market at roughly ₹8.78 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Jan 23
Third quarter 2024 earnings released: EPS: ₹0.02 (vs ₹0.015 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.02 (up from ₹0.015 in 3Q 2023). Revenue: ₹12.2m (down 61% from 3Q 2023). Net income: ₹1.98m (up 38% from 3Q 2023). Profit margin: 16% (up from 4.6% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 123% per year but the company’s share price has increased by 207% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 17
Ashnisha Industries Limited to Report Q3, 2024 Results on Jan 22, 2024 Ashnisha Industries Limited announced that they will report Q3, 2024 results on Jan 22, 2024 Announcement • Dec 27
Ashnisha Industries Limited Appoints Hiren Tribhovandas Makwana as Chief Financial Officer Ashnisha Industries Limited announced that Mr. Hiren Tribhovandas Makwana is appointed as t he Chief Financial Officer of the Company effective from December 27, 2023. Mr. Hiren T. Makwana aged about 28 years is commerce graduate. He possesses more than five years of experience in the field of accountancy. He is capable t o organize competent financial reporting. His appointment will not on ly aid the Company to fruitful investment of existing resources but also benefit the Company by providing strategic recommendation to the Management team to generate more assets for the Company. New Risk • Nov 11
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.6% Last year net profit margin: 10% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Profit margins are more than 30% lower than last year (5.6% net profit margin). Shareholders have been diluted in the past year (3.5% increase in shares outstanding). Revenue is less than US$5m (₹174m revenue, or US$2.1m). Market cap is less than US$100m (₹1.79b market cap, or US$21.5m). Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: ₹0.02 (vs ₹0.047 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.02 (down from ₹0.047 in 2Q 2023). Revenue: ₹25.5m (down 45% from 2Q 2023). Net income: ₹2.41m (down 49% from 2Q 2023). Profit margin: 9.4% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has increased by 137% per year but the company’s share price has increased by 330% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 04
Ashnisha Industries Limited to Report Q2, 2024 Results on Nov 09, 2023 Ashnisha Industries Limited announced that they will report Q2, 2024 results on Nov 09, 2023 New Risk • Oct 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Shareholders have been diluted in the past year (3.5% increase in shares outstanding). Revenue is less than US$5m (₹197m revenue, or US$2.4m). Market cap is less than US$100m (₹2.07b market cap, or US$24.8m). Announcement • Aug 13
Ashnisha Industries Limited, Annual General Meeting, Sep 27, 2023 Ashnisha Industries Limited, Annual General Meeting, Sep 27, 2023, at 15:30 Indian Standard Time. Reported Earnings • Aug 13
First quarter 2024 earnings released: EPS: ₹0.032 (vs ₹0.005 in 1Q 2023) First quarter 2024 results: EPS: ₹0.032 (up from ₹0.005 in 1Q 2023). Revenue: ₹26.7m (up 6.2% from 1Q 2023). Net income: ₹3.14m (up ₹3.00m from 1Q 2023). Profit margin: 12% (up from 0.6% in 1Q 2023). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 135% per year but the company’s share price has increased by 263% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 04
Ashnisha Industries Limited to Report Q1, 2024 Results on Aug 12, 2023 Ashnisha Industries Limited announced that they will report Q1, 2024 results on Aug 12, 2023 Announcement • Jun 17
Ashnisha Industries Limited Announces Change in Designation of Ashok Chinubhai Shah from the Post of Managing Director to Non- Executive and Non-Independent Director Ashnisha Industries Limited announced that Mr. Ashok Chinubhai Shah, Managing Director is unwilling to continue as Managing Director due to preoccupancy elsewhere with immediate effect from 15th June, 2023. Reason for change: Change in Designation from Managing Director to Director due to pre-occupancy elsewhere. However, he will continue as Non- Executive and Non-Independent Director of the company. Date of Cessation/Change: 16 June, 2023. Announcement • May 09
Ashnisha Industries Limited announced a financing transaction Ashnisha Industries Limited announced a private placement of 2,000,000 equity shares on preferential basis on May 8, 2023. The transaction will include participation from individual investors Ghanshyam Dhananjay Gavali for 1,500,000 equity shares and Pragna S Joshi for 500,000 equity shares. The transaction has been approved by the board of directors of the company. Reported Earnings • May 09
Full year 2023 earnings released: EPS: ₹0.09 (vs ₹0.14 in FY 2022) Full year 2023 results: EPS: ₹0.09. Revenue: ₹213.8m (up 137% from FY 2022). Net income: ₹8.99m (up 113% from FY 2022). Profit margin: 4.2% (down from 4.7% in FY 2022). The decrease in margin was driven by higher expenses. Reported Earnings • Feb 08
Third quarter 2023 earnings released: EPS: ₹0.015 (vs ₹0.16 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.015 (down from ₹0.16 in 3Q 2022). Revenue: ₹33.5m (up 26% from 3Q 2022). Net income: ₹1.44m (down 71% from 3Q 2022). Profit margin: 4.3% (down from 18% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has increased by 200% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 31
Ashnisha Industries Limited to Report Q3, 2023 Results on Feb 07, 2023 Ashnisha Industries Limited announced that they will report Q3, 2023 results on Feb 07, 2023 Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improved over the past week After last week's 17% share price gain to ₹9.52, the stock trades at a trailing P/E ratio of 71.6x. Average trailing P/E is 22x in the Trade Distributors industry in India. Total returns to shareholders of 3,850% over the past three years. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. Non Executive Independent Director Daxaben Shah was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Nov 03
Ashnisha Industries Limited to Report Q2, 2023 Results on Nov 14, 2022 Ashnisha Industries Limited announced that they will report Q2, 2023 results on Nov 14, 2022 Announcement • Sep 17
Ashnisha Industries Limited announced that it has received INR 108.723529 million in funding from Aalps Commodities Llp, TIW Systems Private Limited On September 15, 2022, Ashnisha Industries Limited closed the transaction. The company has issued 68,812,360 equity shares at a price of INR 1.58 for gross proceeds of INR 108,723,529. The transaction included participation from Shalin Ashok Shah for 8,500,000 shares, Ashok Chinubhai Shah for 7,500,000 shares, TIW Systems Pvt. Ltd for 15,000,000 shares, Babubhai G Vankar for 8,377,000 shares, Kokilaben B Vankar for 8,377,000 shares, Vimlaben Vishnubhai Chauhan for 7,189,360 shares, Tapan Sureshsinhji Desai HUF for 6,934,500 shares and Aalps Commodities LLP for 6,934,500 shares. Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment improved over the past week After last week's 21% share price gain to ₹1.93, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 25x in the Trade Distributors industry in India. Total returns to shareholders of 1,187% over the past three years. Reported Earnings • Aug 18
First quarter 2023 earnings released: EPS: ₹0.005 (vs ₹0.083 loss in 1Q 2022) First quarter 2023 results: EPS: ₹0.005 (up from ₹0.083 loss in 1Q 2022). Revenue: ₹27.4m (up 84% from 1Q 2022). Net income: ₹143.0k (up ₹2.64m from 1Q 2022). Profit margin: 0.5% (up from net loss in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 128% per year, which means it is well ahead of earnings. Announcement • Jul 31
Ashnisha Industries Limited to Report Q1, 2023 Results on Aug 10, 2022 Ashnisha Industries Limited announced that they will report Q1, 2023 results on Aug 10, 2022 Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improved over the past week After last week's 17% share price gain to ₹1.65, the stock trades at a trailing P/E ratio of 11.8x. Average trailing P/E is 21x in the Trade Distributors industry in India. Total returns to shareholders of 509% over the past three years. Reported Earnings • Jul 15
Full year 2022 earnings released: EPS: ₹0.14 (vs ₹0.23 loss in FY 2021) Full year 2022 results: EPS: ₹0.14 (up from ₹0.23 loss in FY 2021). Revenue: ₹90.1m (down 11% from FY 2021). Net income: ₹4.22m (up ₹11.1m from FY 2021). Profit margin: 4.7% (up from net loss in FY 2021). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 80% per year, which means it is well ahead of earnings. Announcement • Jul 06
Ashnisha Industries Limited, Annual General Meeting, Aug 03, 2022 Ashnisha Industries Limited, Annual General Meeting, Aug 03, 2022, at 15:30 Indian Standard Time. Announcement • Jul 01
Ashnisha Industries Limited Announces Resignation of Ashok Chinubhai Shah as Managing Director Ashnisha Industries Limited announced that Mr. Ashok Chinubhai Shah, Managing Director unwilling to continue as Managing Director due to pre occupancy elsewhere with immediate effect from 29th June, 2022 also there was no other material reas0n for his resignation and that he will continue as Non-Executive and Non- independent Director of the company. Announcement • Jun 30
Ashnisha Industries Limited announced a financing transaction Ashnisha Industries Limited announced a private placement of 68,812,360 equity shares of the company on a preferential issue basis on June 29, 2022. The transaction will include participation from Shalin Ashok Shah for 85,00,000 shares, Ashok Chinubhai Shah for 75,00,000 shares, TIW Systems Pvt. Ltd for 1,50,00,000 shares, Babubhai G Vankar for 83,77,000 shares, Kokilaben B Vankar for 83,77,000 shares, Vimlaben Vishnubhai Chauhan for 71,89,360 shares, Tapan Sureshsinhji Desai HUF for 69,34,500 shares and Aalps Commodities LLP for 69,34,500 shares. Board Change • May 23
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. Non Executive Independent Director Daxaben Shah was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • May 21
Ashnisha Industries Limited to Report Q4, 2022 Results on May 30, 2022 Ashnisha Industries Limited announced that they will report Q4, 2022 results on May 30, 2022 Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improved over the past week After last week's 19% share price gain to ₹15.85, the stock trades at a trailing P/E ratio of 72.3x. Average trailing P/E is 20x in the Trade Distributors industry in India. Total returns to shareholders of 233% over the past three years. Announcement • Mar 01
Ashnisha Industries Limited Announces Appointment of Payal Hitesh Donga as A Chief Financial Officer Ashnisha Industries Limited announced that Board of Directors of the Company at their meeting held on 28 February, 2022 appointed Mrs. Payal Hitesh Donga as a Chief Financial Officer of the company effective from 28 February, 2022. She is capable in supervising the processes for financial reporting. Her appointment will aid the management on long-term economic forecasting with precision. Reported Earnings • Feb 17
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹1.62 (up from ₹1.03 loss in 3Q 2021). Revenue: ₹33.9m (up 76% from 3Q 2021). Net income: ₹4.88m (up ₹7.99m from 3Q 2021). Profit margin: 14% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 98 percentage points per year, which is a significant difference in performance. Announcement • Feb 05
Ashnisha Industries Limited to Report Q3, 2022 Results on Feb 14, 2022 Ashnisha Industries Limited announced that they will report Q3, 2022 results on Feb 14, 2022 Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improved over the past week After last week's 18% share price gain to ₹7.32, the stock trades at a trailing P/E ratio of 53x. Average trailing P/E is 26x in the Trade Distributors industry in India. Total loss to shareholders of 36% over the past three years. Reported Earnings • Jul 03
Full year 2021 earnings released: ₹2.28 loss per share (vs ₹14.95 loss in FY 2020) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2021 results: Revenue: ₹108.0m (down 60% from FY 2020). Net loss: ₹6.89m (loss narrowed 85% from FY 2020). Is New 90 Day High Low • Feb 18
New 90-day high: ₹3.91 The company is up 101% from its price of ₹1.95 on 20 November 2020. The Indian market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Trade Distributors industry, which is up 85% over the same period. Reported Earnings • Feb 17
Third quarter 2021 earnings released: ₹1.03 loss per share (vs ₹8.85 loss in 3Q 2020) The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2021 results: Revenue: ₹19.3m (down 42% from 3Q 2020). Net loss: ₹3.11m (loss narrowed 88% from 3Q 2020). Announcement • Feb 04
Ashnisha Industries Limited to Report Q3, 2021 Results on Feb 13, 2021 Ashnisha Industries Limited announced that they will report Q3, 2021 results on Feb 13, 2021 Is New 90 Day High Low • Jan 27
New 90-day high: ₹3.77 The company is up 47% from its price of ₹2.57 on 29 October 2020. The Indian market is up 22% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Trade Distributors industry, which is up 55% over the same period. Is New 90 Day High Low • Jan 06
New 90-day high: ₹3.09 The company is up 4.0% from its price of ₹2.98 on 08 October 2020. The Indian market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 46% over the same period. Is New 90 Day High Low • Nov 19
New 90-day low: ₹2.00 The company is down 44% from its price of ₹3.57 on 21 August 2020. The Indian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 47% over the same period. Announcement • Nov 04
Ashnisha Industries Limited to Report Q2, 2021 Results on Nov 12, 2020 Ashnisha Industries Limited announced that they will report Q2, 2021 results on Nov 12, 2020 Is New 90 Day High Low • Nov 03
New 90-day low: ₹2.45 The company is down 56% from its price of ₹5.59 on 05 August 2020. The Indian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 55% over the same period. Is New 90 Day High Low • Oct 12
New 90-day low: ₹2.84 The company is down 52% from its price of ₹5.88 on 14 July 2020. The Indian market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 59% over the same period. Announcement • Sep 09
Ashnisha Industries Limited to Report Q1, 2021 Results on Sep 15, 2020 Ashnisha Industries Limited announced that they will report Q1, 2021 results on Sep 15, 2020 Announcement • Sep 02
Ashnisha Industries Limited to Report Fiscal Year 2020 Results on Sep 04, 2020 Ashnisha Industries Limited announced that they will report fiscal year 2020 results on Sep 04, 2020 Announcement • Jul 23
Ashnisha Industries Limited to Report Q4, 2020 Results on Jul 29, 2020 Ashnisha Industries Limited announced that they will report Q4, 2020 results on Jul 29, 2020 
