Ashapura Minechem Q1 revenue rises 19.22% to ₹16.16bn as Guinea bauxite volumes reach 2.34Mt

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Ashapura Minechem reported Q1 FY27 consolidated revenue of INR 16.16 billion (USD 169 million), up 19.22 per cent from a year earlier. Net profit rose 5 per cent to INR 1.15 billion (USD 12 million).

Bauxite exports from Guinea increased 14.1 per cent year-on-year to 2.34 million tonnes, compared with 2.05 million tonnes in Q1 FY26. The increase in exports helped drive the higher revenue during the quarter.

Ashapura has lowered its FY27 bauxite volume target to 9-11 million tonnes, from the earlier mark of 10-12 million tonnes. However, it has kept its FY28 target at 15 million tonnes, which is expected to translate into around USD 1 billion in sales.

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The company has also increased the handling capacity of its Boffa Port in Guinea to 8 million tonnes per year, which was previously 5 million tonnes per annum.

Freight costs, however, remained a pressure point. Higher ocean freight (USD 6.3 per tonne) affected margins, with EBITDA margin at 11.7 per cent and EBITDA broadly flat year on year. Other factors to watch include foreign exchange movements and changes in Guinea’s mining and export policies.

The company also has a domestic mineral business in India, including bentonite, which provides another source of revenue alongside its bauxite operations. Additionally, in August 2026, its non-operational Singapore subsidiary, Ashapura Holdings Fareast Pte. Ltd., was voluntarily liquidated and dissolved.

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There were also changes in shareholder holdings, with Eriska Investment Fund increasing its stake to 5.21 per cent, while Albula Investment Fund sold 2.12 million shares.

Demand for bauxite remains steady, mainly because of aluminium production and growing demand from electric vehicles. Guinea is a major global supplier of high-grade bauxite, and Ashapura’s Guinea operations remain central to its volume growth, with the expanded port capacity supporting the planned increase in bauxite exports.