Asi Industries (502015)

Score breakdown: P/E: 3/3 · ROCE: 0/2 · Growth: 1/2 · Dividend: 0/1

Key Financials

Strengths

• Trades at a meaningful discount to book: P/B 0.74, with price ₹28.44 versus book value ₹38.27.
• P/E of 9.40 gives an approximate earnings yield of 10.6%, a reasonable starting point if earnings don't deteriorate.
• Piotroski F-Score 7/9 suggests financial health is solid on the available metrics.
• Dividend yield of 1.47% provides some compensation while waiting for value recognition.
• Latest quarter revenue ₹51 Cr and net profit ₹12 Cr indicate recent operating strength, even if one quarter cannot be annualised.

Concerns

• Sales growth of only 2.97% and profit growth of 0.99% make this a low-growth business; PEG of 4.75 is unattractive for a growth investor.
• ROE of 8.06% and ROCE of 9.88% are moderate, suggesting no wide-moat economics or strong pricing power.
• Debt/Equity and promoter holding are listed as N/A, so I cannot verify leverage or management skin-in-the-game.
• Despite the book-value discount, the 52-week range ₹19.00 – ₹36.88 shows the price can fall further; cheap can get cheaper.

AI Analysis

When I look at Asi Industries, I try to forget the ticker and see a business. Market cap ₹256 Cr, price ₹28.44. It sells at P/E 9.40 and P/B 0.74, meaning I’m paying less than the stated book value of ₹38.27. That is interesting to a Graham disciple. But cheap is only part of the equation; a business must also be a decent capital compounder. Here the record is modest: ROE 8.06%, ROCE 9.88%, sales growth 2.97%, profit growth 0.99%. This is not a wealth-compounder; it is a slow, commodity-like industrial minerals operation with weak pricing power and no obvious moat from the figures. The latest quarter sales of ₹51 Cr and net profit of ₹12 Cr show some recent earning power, but I won't annualise a single quarter. The full-year implied earnings under the P/E are about ₹27 Cr, so that quarterly number as an annual run-rate would not be reliable. Financial health looks okay: Piotroski F-Score 7/9 is a positive signal, though Debt/Equity is N/A, so I can’t fully verify leverage. Promoter holding also N/A, which limits my comfort. Dividend yield 1.47% is not great, but it gives some compensation while waiting. The 52-week range ₹19.00 to ₹36.88 tells me this is a volatile, mid-sized value stock. The PEG ratio of 4.75 tells me that if this were a growth story, I would be overpaying; it is not a growth story. So what am I buying? An asset play. I am paying 28.44 for 38.27 of book value, with moderate returns and a 7/9 Piotroski score. If the book is real and no hidden liabilities exist, there's a margin of safety. But cheapness plus weak growth can be a value trap. I'd want a long record, debt visibility, and clearer capital allocation.

Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer