Ashapura Minechem, a key player in the mining and minerals industry, has successfully resolved a longstanding tax dispute, resulting in a significant financial recovery of ₹259.20 crore. This resolution is expected to positively impact the company's financial position, potentially strengthening its balance sheet and improving overall financial health. The recovered funds could be used for debt reduction, operational improvements, business expansion, or enhancing shareholder value. This development may set a precedent for other companies in the sector facing similar challenges.
Ashapura Minechem Ltd. announced impressive Q4 financial results, with revenue increasing 28.41% to ₹565.00 crore. EBITDA rose 74.59% to ₹84.50 crore, and net profit grew 26.28% to ₹86.50 crore year-over-year. The company's EBITDA margin improved to 14.96%. A dividend of ₹1.00 per share was declared. However, net profit decreased quarter-on-quarter from ₹105.00 crore in Q3 to ₹86.50 crore in Q4. The company's financial data shows a consistent upward trend throughout the fiscal year, with Q4 FY2024 being particularly strong.