Ashima Limited, incorporated in 1982 and headquartered in Ahmedabad, Gujarat, is primarily engaged in textile manufacturing, real estate development, and investment activities. The company operates as a textile manufacturing entity producing cotton fabrics, including denim, shirting, bottom weights, and interlinings.
Ashima owns the entire value chain from yarn to fabric to garments and operates a design studio catering to high-end customer requirements. The company has established a strategic alliance with Cone Mills Corporation, USA, a large denim maker, which owns approximately 8% of Ashima.
Ashima operates through multiple divisions including Denim Division, Spinfab Division, Dyecot, Garment, and Brand Business and Others. The company offers basic denim; ring/slub denim; pigment/discharged print; polyester denim; and piece-dyed products, including basic twills, plain weave, canvas, and satin; and dobby structures with value-added properties, such as chemical, mechanical, and functional finishes.
The company offers various types of denim, including open-end denim, ring denim, slub denim, cross-hatch denim, stretch denim, and fashion denim. The business encompasses manufacturing of denim fabrics and readymade garments, as well as processing textile fabrics including interlining fabrics and garment washing activities (laundry).
Ashima manufactures and sells casual and formal shirts and trousers for men, offers over-dyed garments, as well as ready-to-stitch products under the ICON brand name. In pursuit of its strategy to offer a one-stop-shop to customers, Ashima has set up garment manufacturing facilities and commenced full-fledged commercial production.
The company operates through Textiles, Real Estate, and Investment Division. Besides textile manufacturing, Ashima develops real estate and provides investment services.
Ashima sells its products in the domestic market and also exports them to various countries. The company has established itself as a significant player in the Indian textile industry with a focus on denim and cotton fabric manufacturing.
As of May 2025, Ashima Ltd has a market capitalization of ₹613.70 Cr. As per Value Research classification, it is a Small Cap company. The P/B ratio of Ashima Ltd is 1.95 times as of June 6, 2025, representing a 29% premium to its peers' median range of 1.51 times.
Ashima has an operating revenue of Rs. 231.41 Cr on a trailing 12-month basis. The company achieved an annual revenue growth of 57%, with a pre-tax margin of 19% and ROE of 30%. However, the TTM profit after tax of Ashima Ltd was ₹-19 Cr.
On a consolidated basis, Ashima Ltd reported a profit of Rs 3.25 crore on a total income of Rs 6.97 crore for the quarter ended 2025. Ashima Ltd's net profit fell -435.76% since the same period last year to ₹-11.55Cr in Q3 2024-2025.
The company maintains a reasonable debt to equity ratio of 32%, which signals a healthy balance sheet. However, the company has a low interest coverage ratio and has delivered poor sales growth of -48.4% over the past five years.
Promoter holding in Ashima Ltd stands at 73.49% as of March 2025, unchanged from 73.49% as of June 2024. The promoters of Ashima Ltd are Chintan Navnitlal Parikh and Shefali Chintan Parikh Trustees of Navchintan Trust and Shefali Chintan Parikh. Chintan N Parikh serves as the chairman of the company.
Ashima Limited is a subsidiary of Navchintan Trust. There is no promoter pledging in Ashima Ltd.
In June 2025, the company approved private placement of secured NCDs up to Rs.130 Cr with 9-year tenure and 7.5% interest. Additionally, the promoter group transferred 14.995% shares of Ashima Ltd to family trusts without consideration in June 2025.
Recent board meeting outcomes include the reappointment of Mr. Chintan N. Parikh as Chairman and Managing Director of the Company and the appointment of Secretarial Auditor for a term of 5 years.
The company continues to focus on strengthening its position in the textile manufacturing sector while exploring opportunities in real estate and investment segments to diversify its revenue streams and enhance shareholder value.
