NSE: AMNPLST · BSE: 506248
AMINES & PLASTICIZERS LTD
Manufactures amines and plasticizers, as the company name indicates. Per F_SEGMENTS, chemicals accounted for the entire segment revenue in the 2019 YTD period, with a separately reported software segment contributing nothing. FY26 revenue was 571.03 crore, net profit was 36.53 crore, and EBITDA margin was 10.59%. Raw materials are by far the largest cost at 64.6% of revenue, followed by other operating expenses at 18.5% and employee costs at 4.2%, with depreciation at 1.0% and capex at just 0.1% of revenue. FY26 standalone operating cash flow was Rs 6,353.65 lakhs and short-term borrowings were reduced sharply from Rs 6,588.16 lakhs to Rs 1,565.19 lakhs. The company has one overseas subsidiary, Amines & Plasticizers FZ LLC, whose results are included in consolidated reporting alongside the standalone business. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Chemicals (100%), Software (0%). Chemical manufacturer with very low capex intensity (0.1% of revenue)
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 563 | 597 | 647 | 661 | 571 |
| EBITDA (ex other income) | 40 | 42 | 69 | 69 | 60 |
| margin % | 7.1 | 7.1 | 10.7 | 10.4 | 10.5 |
| Owners' profit | 24 | 23 | 40 | 41 | 37 |
| EPS, as reported (₹) | 4.34 | 4.16 | 7.24 | 7.45 | 6.64 |
| ROE % · ROCE % | 14.7 · 21.0 | 12.5 · 18.9 | 18.1 · 26.6 | 15.9 · 23.2 | 12.5 · 17.5 |
| Debt / equity (x) | 0.44 | 0.46 | 0.39 | 0.30 | 0.09 |
| Cash from operations | (27) | 5 | 47 | 29 | 66 |
| Capex | (8) | (2) | (4) | (4) | (1) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 167 | 191 | 166 | 140 | 133 | 142 | 155 | 151 |
| Profit before tax | 13 | 13 | 17 | 10 | 8 | 11 | 21 | 13 |
| Net profit | 10 | 10 | 13 | 7 | 6 | 8 | 15 | 9 |
| EPS (₹) | 1.78 | 1.77 | 2.33 | 1.35 | 1.12 | 1.38 | 2.79 | 1.72 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| TATA CHEMICALS LTD | 15,351 | — | 0.69 | 139.2 | (7.7) | (5.0) | 7.4 | 14.4 |
| DEEPAK FERTILIZERS & PETR | 14,679 | 14.9 | 1.97 | 11.1 | 9.9 | 8.4 | 14.6 | 26.1 |
| GUJ NAR VAL FER & CHEM L | 7,529 | 7.3 | 0.83 | 5.4 | 8.9 | 10.3 | 8.7 | 22.1 |
| TANFAC INDUSTRIES LTD. | 6,923 | 56.6 | 18.55 | — | 18.8 | 24.3 | — | 16.0 |
| GUJARAT ALKALIES & CHEM | 4,105 | 61.8 | 0.79 | 8.7 | (0.0) | 0.7 | 12.4 | 18.4 |
| GHCL LIMITED | 3,565 | 7.8 | 1.00 | 4.7 | 13.3 | 16.6 | 1.1 | 23.9 |
| GRAUER & WEIL IND LTD | 3,543 | 21.6 | 3.28 | 14.4 | 15.2 | 19.2 | 14.5 | 20.4 |
| J.G.CHEMICALS LIMITED | 2,179 | 29.0 | 4.03 | 22.2 | 12.7 | 16.9 | — | 11.5 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 20.8 | 17.4 | 32 of 50 | 37% |
| P/B | 2.7 | 1.4 | 41 of 60 | 31% |
| ROCE | 15.8 | 6.0 | 12 of 62 | 82% |
| ROE | 12.5 | 5.0 | 14 of 60 | 78% |
| Debt / Equity | 0.1 | 0.2 | 23 of 60 | 63% |
| EBITDA margin | 10.1 | 13.3 | 34 of 58 | 42% |
| Revenue growth | 7.3 | 6.7 | 27 of 54 | 51% |
| Profit growth | 27.4 | 21.0 | 30 of 64 | 54% |
| Market cap | 801 | 98 | 17 of 66 | 75% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Board meeting set for November 4 results review | results | low | — | — |
| 7 Oct 2026 · Routine quarterly demat confirmation certificate filed with exchanges | compliance | minimal | — | — |
| 28 Sept 2026 · Trading Window closed from Oct 1 ahead of Q2 results | compliance | minimal | — | — |
| 25 Sept 2026 · Newspaper notice on SEBI Special Window for old physical share transfers | compliance | minimal | — | — |
| 24 Sept 2026 · AMNPLST: All 9 AGM resolutions passed with 100 percent approval | board shareholder meetings | low | — | — |
| 23 Sept 2026 · 51st AGM of Amines & Plasticizers concludes; 9 resolutions transacted | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Notice of 51st AGM, e-voting, record date and final dividend details | compliance | minimal | — | — |
| 31 Aug 2026 · Annual Report 2025-26 web-link sent to shareholders without registered email | compliance | low | — | — |
| 31 Aug 2026 · 51st AGM on Sept 23 - Dividend of Rs 0.50/Share, Director Pay on Agenda | board shareholder meetings | low | — | — |
| 27 Aug 2026 · 51st AGM on Sept 23, 2026 via video conferencing; 25% dividend recommended | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.