Ashima Limited (ASHIMASYN)

Small Cap

Ashima Limited operates in Real Estate and Investment segments. Its cotton textile operations have been discontinued. The company is developing two real estate projects and manages an equity investment portfolio with a long-term value philosophy.

₹13.86

-0.18 · -1.28%

Market cap ₹287 Cr

ThemesTextiles

Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm IST

Details

Quote21 Oct, 03:31 pm IST

Base fundamentals06 Oct 2026 · screener

Latest result18 Jul, 09:57 pm IST

Score21 Oct, 04:30 am IST · v4.3-runtime-valuation

Tags03 May 2026

Coverage12/14 · 86%

Valuation2026-07-20 · Rf 6.8% · Consumer P/E 22.2 (n=441)

Technical timing lens

Trend score and candlestick chart

32Bearish

SMA20 -14.6% / mo · RSI oversold · MACD − · sector -4.6pp vs Nifty 500 (3M)

Stock trend: 33

Sector RS: 31

Sector 3M: -10.2% vs Nifty 500 -5.6%

Consumer FPI tailwindNot confirmed

Latest mapped FPI equity flow was not positive. View sector evidence

Compare peers →

Technical chart

ASHIMASYND candles · FIT view-14.1%

Latest close ₹13.86 on 2026-10-21

Bar

-1.0%

RSI

MACD hist

-0.02

52W pos

20%

2026-10-21O ₹14.00H ₹14.50L ₹13.60C ₹13.86Vol 52,266 sh

Up bar

Down bar

EMA 20

EMA 50

Volume + 20D avg

Result date

RSI(14)

MACD / signal

Market context

Relative performance and chart statistics

Adjusted completed-session prices, rebased to 100

ASHIMASYNNifty Consumer DurablesNifty 500

ASHIMASYN: -26.0%
Nifty 500: -6.5%
Nifty Consumer Durables: -11.0%
Vs Nifty 500: -19.5 pp

Chart stats

21 Oct 2026

From 52W high: -41.0%
52W range position: 20%
ATR (14): 5.5%
Volume vs 20D: 0.66x
Avg traded value: ₹0.1 Cr
20D price channel: ₹13.5 - ₹16.3

Quarter ended 30 Jun 2026

Good · 55

Rev +201% YoY · margin expansion · +21% QoQ

Revenue: ₹8.3 Cr; YoY +200.7%
PAT: ₹1.9 Cr; YoY NDF
Operating margin: 39.7%; QoQ +7895 bps
PAT margin: 23.2%; QoQ +12434 bps

Filed 18 Jul 2026Full result & history →

Current-quarter concall

Transcript not linked yet

No source-linked earnings-call transcript is available for this company in the active results quarter.

Search Concall Intelligence

Technical snapshot

Positioning and participation

Stage 1 Base / Transition

Current trend context ranked against all active NSE stocks. It describes the chart; it is not a buy or sell signal.

RS percentile: 19; -21 ranks over 20D
Stage 2 entry: Not in Stage 2; Current classification: Stage 1 Base / Transition
Sector rotation: #8; neutral · 495 stocks
Industry rotation: #33; improving · 107 stocks

Trend structure

Below 20-DMABelow 50-DMABelow 200-DMA

RSI (14)

Oversold zone

MACD

Below signal

Histogram -0.02

Volume participation

0.7x average

Versus 20-session average

20-session position

13% of range

₹13.5 low · ₹16.32 high

Relative performance

vs Nifty 500

1M: -8.6 pp; stock -13.0%
3M: -19.5 pp; stock -26.0%
6M: -9.0 pp; stock -14.2%
1Y: -29.3 pp; stock -37.2%

From 52W high

-41.0%

High ₹23.5

52W range position

20%

₹11.5 - ₹23.5

ATR (14)

5.5%

₹0.77

Avg traded value

₹0.1 Cr

20-session average

Current setup

No confirmed setup attached

Review the chart and detailed technical evidence before drawing a conclusion.

Open detailed technicals →

Research snapshot

What the evidence says now

Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.

Suggested next step

Check latest quarters

Result consistency is weak; verify whether the thesis is improving or deteriorating.

U-Score

Legacy · OVERVALUED

Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.

Financials

Fundamentals, quarterly history, margins, returns and balance-sheet evidence

Quarter ended 30 Jun 2026

Good · 55/100

Rev +201% YoY · margin expansion · +21% QoQ

Filed 18 Jul 2026

Open results browser →

Metric	This quarter	YoY	QoQ
Revenue	₹8.3 Cr	+200.7%	+21.4%
EBITDA	₹3.3 Cr	+4037.5%	+223.0%
Operating margin	39.7%	+3685 bps	+7895 bps
PAT	₹1.9 Cr	NDF	NDF
PAT margin	23.2%	+11451 bps	+12434 bps

NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.

Fundamentals

Valuation

P/E: —
P/B: 1.04
EV/EBITDA: —
Market Cap: 287.00Cr

Profitability

ROE: -7.39%
ROCE: 0.43%
ROA: -2.87%
Dividend Y: —

Growth (CAGR)

Revenue 5Y: -35.00%
EPS 5Y: -35.00%
Revenue 3Y: -3.00%
EPS 3Y: -3.00%

Balance Sheet

Debt/Equity: 0.59
Interest Coverage: -0.40×
Altman Z: 1.02
Book Value: 14.40

Cash Flow

FCF Yield: —
FCF Positive Y: 7/5
OCF: -40.00 Cr
EPS TTM: -0.82

Shareholding

Promoter Hold: 73.49%
Promoter Pledge: 0.00%
Momentum 52W: 30%

Financial History

Updated 21/10/2026

Revenue

₹ Cr

Latest: 8.3+21.4% vs prev

Net Profit

₹ Cr

Latest: 1.9+127.8% vs prev

ROE is shown only in the Annual view — quarterly equity data isn't published.

Technicals

Trend interpretation, Stage 2, relative strength, volume and indicator evidence

Daily technical trend read

Mixed signals

Signals are conflicting — long-term trend down. RSI 28. Wait for confirmation.

Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
SMA20 falling (~17.0% over last month) — short-term momentum negative.
RSI(14) at 28 — oversold zone; bounce conditions.
MACD below signal but histogram contracting — bearish momentum easing.
41% off 52W high · 21% above 52W low.

Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.

Nifty 500 leadership

Relative Strength & Trend Stage

RS percentile

Stage 1 Base / Transition

1M return

-13.0%

3M return

-26.0%

6M return

-14.7%

1Y return

-37.5%

RS 1D

-1

RS 20D

-21

Sector rank

Industry rank

#33

Stage evidence

Price is 13.1% below the 30-week proxy without full trend alignment.
The 30-week proxy changed +0.4% over 20 sessions.
The moving-average structure does not confirm Stage 2 or Stage 4.

50-DMA

price below

200-DMA

price below

Sector

neutral

Industry

improving

Relative-strength line vs Nifty 500 (base 100)

262 observations

21 Oct 2026Value 64.28-0.37%

RS vs Nifty 50064

Valuation & peers

U-Score 12 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies

Distress Watch

Fundamental score breakdown

U band · OVERVALUED

Valuation4/30

Growth3/25

Quality0/20

Balance Sheet5/15

Cash Flow3/10

Piotroski

2/9 (+0)

Penalties

-3

Raw sum

Why this score?

Top U-Score contributors and drags from the latest stored fundamentals.

12/100 · legacy band OVERVALUED

Positive drivers

Balance sheet contributes 5/15 to the score.
Cash flow contributes 3/10 to the score.
Valuation contributes 4/30 to the score.

Main drags

Altman Z is 1.0, in distress territory.
Penalty bucket subtracts 3 points.
Quality is weaker at 0/20; verify the latest quarterly trend.

Sector valuation model

Cyclical valuation: normalized earnings, not just trailing PE

Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.

Cyclical normalized

Primary lens

Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.

Secondary checks

Current margin versus 5-year average, balance sheet strength, commodity cycle.

Main risk check

A low trailing PE may mean peak-cycle earnings, not true cheapness.

—

1.0

EV/EBITDA

—

ROE

-7.4%

ROCE

0.4%

FCF Yield

—

Debt/Equity

0.6

MoS

—

Cyclical/value-trap warning

This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.

Score movement

Stored run vs live recompute

This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.

Stored run: 21 Oct 2026

v4.3-runtime-valuation

Final score

Previous: 12

Legacy U-Score band

OVERVALUED

Previous: OVERVALUED

Margin of safety

—

Peers

Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.

Compare all ↗

Ticker

Name

Why peer

Score

ROE

MoS

Verdict

VARDMNPOLY

Small

Vardhman Polytex Limited

Maral Overseas Limited

Jinkushal Industries Limited

Business, management & trust

Growth engines, risks, management commitments and evidence-backed delivery

Business and thesis

Where growth can come from, and what can break the case

Thesis under stressReviewed 2026-10-09T07:19:26.488Z

Management commentary snapshot

PBT from continuing operations declined significantly to a loss of Rs.0.27 Crs in FY25 from a profit of Rs.69.10 Crs in FY24, driven by lower real estate revenue and adverse stock market conditions impacting investments.

The sharp decline in profitability from both core continuing operations (Real Estate and Investments) raises concerns. While the investment portfolio shows long-term outperformance, recent underperformance and real estate revenue drop are material.

Growth engines

Real Estate Project Progress

Consistent progress in construction and development work for 'Swan Lake' and 'The Sovereign' projects.

Long-term Value Investing

The company makes investment in equity shares with a long-term perspective with the philosophy of value investment.

Capacity and execution

"The Sovereign" Project Progress

Slab casting of part of the 3rd Floor is completed and that of the 4th floor is going on as per schedule.

Headwinds

Lower Real Estate Revenue

Operational profitability declined due to lower revenue of Real Estate business.

Adverse Stock Market Conditions

Adverse impact of bearish and volatile stock markets on profitability of Investment Division.

Mark-to-Market Losses

Investment division reported decline in performance due to mark-to-market losses in adverse stock market conditions.

Risk radar

Market Volatility

Bearish and volatile stock markets on profitability of Investment Division.

Real Estate Project Execution

PBT from continuing operations declined due to lower revenue of Real Estate business.

Management accountability

What management said, and what results must prove

Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.

Analyst reading lens

Compare YOY

The document presents annual results for the year ended March 31, 2025, compared to the previous year, making YoY the most relevant comparison for assessing performance trends.

Sector KPIs management disclosed

Real Estate Profit

Real Estate business recorded profit of Rs.3.81 Crs during the year, compared to profit of Rs. 63.03 Crs.

Investment Division Profit

Investment Division has recorded profit of Rs. 3.90 Crs during the year, compared to profit of Rs. 10.41 Crs.

Portfolio XIRR (FY25)

Portfolio 2.98% in F.Y. 2024-25, underperforming Nifty 500 (5.38%), Nifty (5.59%), and Sensex (5.39%).

Portfolio XIRR (Since Inception)

Portfolio 27.85% since inception, outperforming Nifty 500 (13.22%), Nifty (11.22%), and Sensex (10.65%).

Management forward view

Faster Vertical Progress

We expect that the vertical progress [of The Sovereign project] will be faster as now, as multiple floors are typical floors.

Long-term Investment Performance

Over time, the [Investment] division has been performing well in terms of returns and profitability (based on mark-to-market accounting).

Thesis monitor

Numbers and claims to verify in the next filings

Checkpoint	Current evidence	What to verify next
Real Estate Profit	Rs.3.81 Crs (FY25)	Watch for recovery in real estate revenue and profitability from ongoing projects.
Investment Division Profit	Rs.3.90 Crs (FY25)	Monitor improvement in investment division's realized and mark-to-market profits amidst market conditions.
Portfolio XIRR	2.98% (FY25)	Track portfolio XIRR relative to benchmarks to confirm long-term outperformance trend.
Sovereign Project Progress	Slab casting of part of 3rd Floor completed, 4th floor ongoing.	Observe acceleration in vertical construction and sales progress for 'The Sovereign' project.

Verification checkpoints are IndiaPulse research interpretation, not investment advice.

Trust Score

52Limited evidence · low confidenceTrust Lite

Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.

Limited evidence: Claim history is still being built. It ranks around the 10th percentile of the scored universe and 12th percentile within Consumer. Main check: results consistency is weak at 17/100.

This is a financial-behaviour screen, not a claim-tested management reliability verdict.

Computed 05 Sept 2026

management-trust-v1

20 docs text-extracted · 0 concalls text-extracted

Score band

Limited evidence

Financial behaviour is scored, but management claims do not yet have enough outcome checks.

Relative rank

10th percentile

overall median 67 · Consumer: 12th pctile, median 66 · Small: 12th pctile, median 66

Evidence depth

Financial-only

20 documents have extracted text, but claim history is not strong enough yet.

Claim delivery

Outcome history still building

0 claims extracted · No contradicted claim yet

How to read this Trust Score

Limited evidence · low confidence

What it measures

Reliability of management and financial delivery, using financial behaviour only.

Confidence

Treat this as an early read until more concalls and outcomes are matched.

Investor use

Needs extra due diligence; demand valuation comfort and recent improvement.

Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.

Forensic breakdown

Read low sub-scores as due-diligence warnings, not automatic sell signals.

Promoter

strong · holding, pledge, alignment

Cash flow

watch · profit to cash conversion

Balance sheet

watch · leverage and solvency

Discipline

watch · capital discipline

Results

weak · quarterly consistency

Trust positives

▸Promoter holding is 73.5%.
▸Promoter pledge is zero.
▸7 years of positive FCF.

Trust risks

▸Operating cash flow is negative at ₹-40 Cr.
▸Altman Z is 1.14.
▸4 latest quarters had PAT decline worse than 25% YoY.
▸ROCE is low at 0.4%.

Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.

Compare Consumer stocks Browse Indian stocks starting with A Explore fundamental stock screeners Browse Indian investment themes

Related companies

Vardhman Polytex Limited (VARDMNPOLY)Maral Overseas Limited (MARALOVER)Jinkushal Industries Limited (JKIPL)T T Limited (TTL)DCM Nouvelle Limited (DCMNVL)

Important announcements & filings

Latest exchange and company disclosures found within the past two years.

Source: Bse

Open source ↗

Verify on:NSE India ↗

All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.

Ashima Limited (ASHIMASYN)

Trend score and candlestick chart

Technical chart

Relative performance and chart statistics

What the evidence says now

Financials

Quarter ended 30 Jun 2026

Fundamentals

Valuation

Profitability

Growth (CAGR)

Balance Sheet

Cash Flow

Shareholding

Revenue

Net Profit

Technicals

Daily technical trend read

Relative Strength & Trend Stage

Valuation & peers

Fundamental score breakdown

Why this score?

Positive drivers

Main drags

Cyclical valuation: normalized earnings, not just trailing PE

Stored run vs live recompute

Score history

Factor attribution

Modelled fair value

Comparable companies

Business, management & trust

Where growth can come from, and what can break the case

Real Estate Project Progress

Long-term Value Investing

"The Sovereign" Project Progress

Lower Real Estate Revenue

Adverse Stock Market Conditions

Mark-to-Market Losses

Market Volatility

Real Estate Project Execution

What management said, and what results must prove

Real Estate Profit

Investment Division Profit

Portfolio XIRR (FY25)

Portfolio XIRR (Since Inception)

Faster Vertical Progress

Long-term Investment Performance

Numbers and claims to verify in the next filings

How to read this Trust Score

Forensic breakdown

Trust positives

Trust risks

Continue researching Ashima Limited

Important announcements & filings

Aug 2026 · Announcement under Regulation 30 (LODR)-Change in Management 11 Aug - Mr. Neeraj Golas ceased as Independent Director on August 11, 2026 after completing his final term.

Aug 2026 · Reg. 34 (1) Annual Report. 13 Jul - Ashima issued FY2025-26 annual report, AGM notice for August 6, 2026, and director remuneration resolutions.

Jul 2026 · Announcement under Regulation 30 (LODR)-Change in Management 1 Jul - Ms. Uttara Chintan Parikh appointed Additional Non-Executive Non-Independent Director from July 1, 2026, subject to shareholder approval.

Announcement under Regulation 30 (LODR)-Newspaper Publication 15 Jul

Announcement under Regulation 30 (LODR)-Newspaper Publication 14 Jul

Jun 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 20 Jul - Submission of Newspaper extract of Unaudited Financial Results (Standalone & Consolidated) for the quarter ended on 30th June, 2026.

May 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 28 May - The copies of newspaper advertisement published in Western Times (English) and Western Times (Gujarati), Ahmedabad Edition on 28th May, 2026, regarding the Postal Ballot Notice …

May 2026 · Announcement under Regulation 30 (LODR)-Change in Management 1 May - Ashima appoints Malay Jayendra Dalal as independent director for five years; Sanjay Majmudar resigns effective May 1, 2026.

Compliances-Reg.24(A)-Annual Secretarial Compliance 27 May - Ashima Limited filed its 2025-26 secretarial compliance report; no SEBI or stock exchange actions reported.

Board Meeting Outcome for Board Meeting Outcome For Intimation Of Outcome Of The Circular Resolution Passed By Board Of The Company On January 6, 2026. 1 May - Ashima appointed Malay Jayendra Dalal as independent director effective May 1, 2026, and reconstituted board committees.

Results For The Quarter And Year Ended 31St March, 2026 23 May - Board approved audited FY2026 results, unmodified audit opinion, reappointed internal auditors, and draft postal ballot notice.

Mar 2026 · Annual Report 2026