As per attachment
ALKYLAMINE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Alkyl Amines Chemicals reported a challenging FY26 with both revenue and profit remaining flat (within +/-1%) compared to FY25. Volume growth was essentially flat while prices declined about 1%. The company faced ammonia supply disruptions in March due to geopolitical tensions, with ammonia prices doubling from ~INR50/kg to over INR100/kg. Management has passed on higher raw material costs to customers, who have absorbed them given the company's products are a minor cost in their overall cost structure. Key products include ethylamines (stable with Balaji), methylamines (facing new competitor Aarti with overcapacity), and acetonitrile (Chinese competition reduced after antidumping duty). The Kurkumbh project is delayed and expected to commission next quarter. Management guided for 5-10% volume growth going forward with margin improvement expected as prices remain elevated.
The company appears to have passed through higher raw material costs, protecting margins, with management expressing cautious optimism that margins have bottomed out. However, new capacity in methylamines and potential competition from Balaji's acetonitrile expansion could create future pricing pressure. The stock may see limited upside near-term given flat performance but could benefit from margin recovery if raw material prices stabilize.