---
title: "Ashco Niulab Industries Ltd (ASHCONIUL) — Share Price, Financials & Analysis"
symbol: "ASHCONIUL"
company: "Ashco Niulab Industries Ltd"
canonical: "https://tapetide.com/stocks/ASHCONIUL"
generated_at: "2026-10-13T11:52:40.761Z"
---

# Ashco Niulab Industries Ltd (ASHCONIUL)

Canonical page: https://tapetide.com/stocks/ASHCONIUL

## Company

- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** ashconiulab.com

## About

Ashco Niulab Industries Limited, incorporated in India, Listed on the Bombay Stock  exchange Limited, and National Stock Exchange Limited, the company is engaged in Analytical Instruments, its accessories and services.

## Latest Price

## Key Insights

### Strengths

- Stock is trading at 0.03 times its book value

### Weaknesses

- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -14.6% over past five years.
- Company has high debtors of 526 days.

## Growth Rates

| Metric | 3Y | 5Y |
| --- | --- | --- |
| revenue growth | -34% | -15% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 31 | 152 | 124 | 51 | 57 | 142 | 142 | 4 | 16 | 145 | 154 | 58 |
| Expenses | 8 | 9 | 10 | 6 | 8 | 12 | 9 | 9 | 9 | 11 | 10 | 10 |
| Operating Profit | 22 | 143 | 114 | 44 | 49 | 131 | 133 | -5 | 7 | 134 | 144 | 48 |
| OPM % | 73 | 94 | 92 | 87 | 86 | 92 | 94 | -147 | 45 | 92 | 93 | 82 |
| Other Income | 7 | 14 | 13 | 17 | 23 | 25 | 23 | 26 | 29 | 35 | 25 | 34 |
| Interest | 5 | 5 | 5 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
| Profit before tax | 24 | 152 | 122 | 60 | 72 | 156 | 156 | 21 | 36 | 168 | 167 | 81 |
| Tax % | 18 | 3 | -1 | 11 | 16 | 16 | 21 | 5 | -5 | 13 | 12 | 7 |
| Net Profit | 20 | 148 | 124 | 53 | 60 | 131 | 124 | 20 | 38 | 146 | 148 | 75 |
| EPS in Rs | 0.4 | 2.9 | 2.46 | 1.05 | 1.2 | 2.59 | 2.44 | 0.39 | 0.75 | 2.89 | 2.93 | 1.49 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Sep 2011 18m | Mar 2012 6m |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 35.94 | 40.69 | 67.76 | 64.83 | 68.31 | 120.53 | 18.44 |
| Expenses | 29.95 | 40.64 | 70.37 | 70.09 | 71.11 | 119.84 | 24.45 |
| Operating Profit | 5.99 | 0.05 | -2.61 | -5.26 | -2.8 | 0.69 | -6.01 |
| OPM % | 16.67 | 0.12 | -3.85 | -8.11 | -4.1 | 0.57 | -32.59 |
| Other Income | 0.33 | 7.76 | 13.45 | 14.99 | 13.53 | 3.52 | 6.11 |
| Interest | 1.85 | 2.27 | 3.5 | 4.25 | 4.51 | 8.61 | 4.11 |
| Depreciation | 1.9 | 2.55 | 3.36 | 5.81 | 6.14 | 9.55 | 2.98 |
| Profit before tax | 2.57 | 2.99 | 3.98 | -0.33 | 0.08 | -13.95 | -6.99 |
| Tax % | 40.08 | 36.12 | 54.02 | 318.18 | 1400 | -10.18 | 0 |
| Net Profit | 1.54 | 1.91 | 1.83 | -1.38 | -1.04 | -12.53 | -6.99 |
| EPS in Rs | 1.28 | 1.59 | 1.52 | -1.15 | -0.33 | -1.93 | -1.08 |
| Dividend Payout % | 0 | 0 | 65.57 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Sep 2011 | Mar 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 12 | 12 | 12 | 12 | 31.2 | 64.98 | 64.98 |
| Reserves | 3.25 | 5.16 | 5.58 | 4.2 | 2.88 | 6.07 | 0.46 |
| Borrowings | 19.56 | 19.66 | 43.11 | 37.38 | 35.62 | 40.17 | 36.96 |
| Other Liabilities | 6.05 | 15.84 | 44.8 | 43.91 | 21.04 | 20.91 | 19.7 |
| Total Liabilities | 40.86 | 52.66 | 105.49 | 97.49 | 90.74 | 132.13 | 122.1 |
| Fixed Assets | 17.33 | 17.31 | 33.36 | 33.79 | 28.06 | 24.74 | 17.13 |
| CWIP | 1.15 | 1.49 | 0.14 | 0.16 | 0 | 0.04 | 0 |
| Investments | 0.77 | 0.79 | 0.87 | 0.87 | 0.87 | 0.09 | 0.06 |
| Other Assets | 21.61 | 33.07 | 71.12 | 62.67 | 61.81 | 107.26 | 104.91 |
| Total Assets | 40.86 | 52.66 | 105.49 | 97.49 | 90.74 | 132.13 | 122.1 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Sep 2011 | Mar 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 6.35 | -2.56 | -12.28 | 14.25 | 4.68 | -37.42 | 2.88 |
| Cash from Investing Activity | -10.7 | 0.98 | -1.29 | -5.59 | -0.17 | -3.73 | 3.08 |
| Cash from Financing Activity | 4.69 | 0.97 | 14.2 | -9.54 | -4.96 | 42.25 | -4.93 |
| Net Cash Flow | 0.34 | -0.61 | 0.63 | -0.88 | -0.45 | 1.1 | 1.03 |
| Free Cash Flow | -4.37 | -1.58 | -13.68 | 8.6 | 4.48 | -42.59 | 5.88 |
| CFO/OP | 126 | -4400 | 382 | -302 | -225 | -5152 | -48 |

### Ratios

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Sep 2011 | Mar 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 70.58 | 86.92 | 191.39 | 156.4 | 95.59 | 101.78 | 525.73 |
| Inventory Days | 111.51 | 197.32 | 173.4 | 171.57 | 145.17 | 62.27 | 431.74 |
| Days Payable | 68.68 | 158.47 | 130.99 | 112.83 | 88.82 | 29.67 | 117.69 |
| Cash Conversion Cycle | 113.41 | 125.77 | 233.8 | 215.15 | 151.94 | 134.38 | 839.78 |
| Working Capital Days | 154.57 | 162.9 | 246.33 | 216.93 | 221.85 | 92.03 | 507.71 |
| ROCE % | — | 3.91 | 15.34 | 5.79 | 7.38 | -7.65 | — |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 73.01% | 73.01% | 73.38% | 73.38% | 73.38% | 73.38% | 73.38% | 73.38% | 73.38% | 73.38% |
| FIIs | 1.99% | 1.64% | 2.04% | 2.11% | 1.99% | 1.33% | 1.02% | 2.25% | 2.46% | 2.54% |
| DIIs | 2.44% | 2.25% | 2.11% | 1.83% | 0.93% | 0.43% | 0.43% | 0.46% | 0.53% | 0.53% |
| Government | 0.75% | 0.74% | 0.8% | 0.8% | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% | 0.41% |
| Public | 21.81% | 22.36% | 21.66% | 21.88% | 23.2% | 24.36% | 24.66% | 23.41% | 23.12% | 23.12% |
| No. of Shareholders | 27737 | 32259 | 36109 | 33491 | 36218 | 58008 | 92620 | 148291 | 159543 | 243441 |

### Quarterly

| Category | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 73.38% | 73.38% | 73.38% | 73.38% | 73.38% | 73.38% | 73.38% | 73.38% | 73.38% | 73.38% | 73.38% | 73.38% |
| FIIs | 1.02% | 1.16% | 1.12% | 1.2% | 2.25% | 2.35% | 2.26% | 2.24% | 2.46% | 2.54% | 2.69% | 2.54% |
| DIIs | 0.43% | 0.43% | 0.44% | 0.45% | 0.46% | 0.48% | 0.5% | 0.52% | 0.53% | 0.53% | 0.53% | 0.53% |
| Government | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% | 0.41% |
| Public | 24.66% | 24.52% | 24.56% | 24.48% | 23.41% | 23.3% | 23.35% | 23.35% | 23.12% | 23.05% | 22.89% | 23.12% |
| No. of Shareholders | 92620 | 92424 | 95562 | 114270 | 148291 | 156353 | 157260 | 158767 | 159543 | 155346 | 164657 | 243441 |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2026-03-06 | [Announcement under Regulation 30 (LODR)-Credit Rating](https://www.bseindia.com/xml-data/corpfiling/AttachLive/92f0d39b-fe3b-4a92-9d4d-1024d594c4df.pdf) |
| 2026-02-20 | [Clarification For Spurt In Volume](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5419def7-c977-4e9e-aee5-699c2e6dedaa.pdf) |
| 2026-02-19 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2278580f-350c-4ba0-9bf3-cf61520bc6c5.pdf) |
| 2026-01-31 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/xml-data/corpfiling/AttachHis/983764ed-6fc1-42cf-95ee-ee54734d4c3a.pdf) |
| 2026-01-30 | [Board Meeting Outcome for Board Meeting Outcome](https://www.bseindia.com/xml-data/corpfiling/AttachHis/24b8431d-e913-40e2-bf10-916595f1cff0.pdf) |
| 2026-01-30 | [Results For Quarter And Nine Month Ended December 31, 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bf39fb0b-aacf-47c1-895b-2152c8f69b7a.pdf) |
| 2026-01-19 | [Board Meeting Intimation for Consideration And Approval Of The Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter/Nine Months Ended December 31, 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c50b2b57-e83b-4ec7-9663-54a7232687d3.pdf) |
| 2026-01-19 | [Closure of Trading Window](https://www.bseindia.com/xml-data/corpfiling/AttachHis/441655e0-0b69-48e8-94b6-dcd3f622543d.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| 2025 | [Financial Year 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a535eecb-12eb-4eb5-a4a2-7c40afb44fe1.pdf) |
| 2024 | [Financial Year 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ca1102fa-f23e-42d7-b1ff-4053e711a294.pdf) |
| 2023 | [Financial Year 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/dd1df3a6-b639-43bc-a925-143a7656f348.pdf) |
| 2022 | [Financial Year 2022](https://www.bseindia.com/bseplus/AnnualReport/501301/73077501301.pdf) |
| 2021 | [Financial Year 2021](https://www.bseindia.com/bseplus/AnnualReport/501301/68542501301.pdf) |
| Mar 2020 | [Financial Year 2020](https://www.bseindia.com/bseplus/AnnualReport/501301/5013010320.pdf) |
| Mar 2019 | [Financial Year 2019](https://www.bseindia.com/bseplus/AnnualReport/501301/5013010319.pdf) |
| Mar 2018 | [Financial Year 2018](https://www.bseindia.com/bseplus/AnnualReport/501301/5013010318.pdf) |
| Mar 2017 | [Financial Year 2017](https://www.bseindia.com/bseplus/AnnualReport/501301/5013010317.pdf) |
| Mar 2016 | [Financial Year 2016](https://www.bseindia.com/bseplus/AnnualReport/501301/5013010316.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2025-10-16 | Credit rating update — CRISIL |
| 2024-10-16 | Credit rating update — CRISIL |
| 2023-10-18 | Credit rating update — CRISIL |
| 2022-12-02 | Credit rating update — CRISIL |
| 2021-12-24 | Credit rating update — CRISIL |
| 2020-12-29 | Credit rating update — CRISIL |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-10-13T11:52:40.761Z.