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Revenue
₹960.4 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
₹143 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Ashapura Minechem's Q3 FY26 consolidated revenue was ₹960.4 crore, with EBITDA of ₹143 crore (margin 14.9%, up 100bps QoQ). Guinea contributed 76% of revenue. Volume missed internal targets due to prolonged monsoon in Guinea, but EBITDA margin improved from lower demurrage charges and cost efficiencies. Bauxite prices fell ~$10/ton QoQ to ~$60-61 CIF China, pressuring realizations. Management expects prices to stabilize near current levels and recover after Chinese New Year. They reiterated the long-term volume target of 15 million tons by FY28, with linear ramp-up. Iron ore trials with a beneficiation plant are progressing; volume guidance expected by Q4. Risks: further bauxite price weakness below $52/ton could threaten viability; concentration risk to China; and elevated related-party transactions flagged by an analyst.
Colored figures show movement against the previous available record.
Guidance to track
- Management reiterated confidence in achieving 15 million tons bauxite export volume from Guinea by FY28, with linear ramp-up from ~3 million tons in FY25.
- Management expects Q4 FY26 to be a record quarter for Guinea bauxite exports, though exact numbers not provided.
- Management indicated FY27 volume would be roughly halfway between current year and 15 million tons, implying 11-12 million tons.
- Management stated that below $52/ton bauxite price, they would need to reconsider production viability, implying a floor.
Risks flagged
- Management admitted that if bauxite prices fall below $52/ton, business viability becomes a concern, especially for mines farther from port.
- 100% of Guinea bauxite exports go to China, making the company vulnerable to China demand shocks or policy changes.
- An analyst noted that over 70% of loans and advances and 71% of investments are to related parties, raising governance concerns.
- Prolonged monsoon in Guinea impacted Q3 volumes; similar climatic events could recur and affect future shipments.
Key quotes
- We not achieved our expected volume which we have planned for quarter 3. It's not that there is lack of business or lack of orders, but because of climatic changes and logistic difficulties.
- If it is below $52 maybe then we have to reconsider our stand otherwise we will be very comfortable till that number.
- We are very confident of achieving our long-term volume target of 15 million tons for FY28.
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