Manufactures specialty chemicals, with manufacturing facilities in Gujarat including a plant at Village Tundav, Vadadara that was directed to close by the Gujarat Pollution Control Board in July 2026 over pollution-control non-compliances; other plants remained operational. The business recorded FY26 revenue of Rs 1,159.66 crore and net profit of Rs 79.33 crore, at a net margin of 6.84% and ROCE of 26.48%. Raw materials are the dominant input cost at 66.4% of revenue, with other operating expenses at 17.5% and employee costs at 5.7%. Revenue grew 7.5% year-on-year and 16.5% on a five-year CAGR, while net profit rose 41.9% year-on-year. For FY26 the board declared a 10% dividend (Rs 0.50 per share on Rs 5 face value) and granted 5,60,000 stock options to employees under the ESOP 2025 plan. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Specialty chemicals. Asset-heavy specialty chemicals manufacturer with multi-plant Gujarat operations
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 786 | 945 | 944 | 1,079 | 1,160 |
| EBITDA (ex other income) | 52 | 87 | 79 | 101 | 123 |
| margin % | 6.6 | 9.2 | 8.4 | 9.4 | 10.6 |
| Owners' profit | 0 | 0 | 43 | 56 | 0 |
| EPS, as reported (₹) | 3.26 | 5.78 | 6.06 | 7.70 | 10.79 |
| ROE % · ROCE % | 12.3 · 20.3 | 18.1 · 25.7 | 16.2 · 24.3 | 17.6 · 24.4 | 20.1 · 26.5 |
| Debt / equity (x) | 1.10 | 1.03 | 0.82 | 0.90 | 0.79 |
| Cash from operations | 35 | 20 | 70 | 91 | 79 |
| Capex | (40) | (31) | (31) | (91) | (78) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 269 | 259 | 285 | 288 | 277 | 277 | 318 | 375 |
| Profit before tax | 19 | 17 | 15 | 36 | 26 | 16 | 29 | 42 |
| Net profit | 14 | 11 | 12 | 29 | 18 | 12 | 21 | 31 |
| EPS (₹) | 1.96 | 1.52 | 1.68 | 3.94 | 2.50 | 1.62 | 2.73 | 4.19 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PIDILITE INDUSTRIES LTD | 1,59,479 | 60.2 | 14.43 | 42.3 | 22.4 | 28.0 | 14.9 | 28.6 |
| SRF LTD | 73,583 | 34.0 | 5.24 | 22.7 | 13.1 | 13.1 | 13.4 | 25.2 |
| GUJARAT FLUOROCHEM LTD | 52,514 | 85.7 | 6.64 | 41.5 | 7.3 | 8.7 | 13.5 | 27.7 |
| NAVIN FLUORINE INT. LTD | 43,836 | 55.4 | 11.03 | 39.5 | 16.7 | 16.4 | 23.0 | 37.5 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 3 Sept 2026 · 33rd AGM notice published in newspapers; AGM on Sep 24, 2026 | compliance | minimal | — | — |
| 2 Sept 2026 · Indo Amines sets September 24, 2026 date for 33rd AGM | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Record date 17-Sep-2026 fixed for final dividend | corporate actions | medium | — | — |
| 1 Sept 2026 · Indo Amines publishes 33rd AGM notice in newspapers | compliance | minimal | — | — |
| 17 Aug 2026 · Gas Leakage at Mahad Plant; Operations Suspended | capex operations | high | — | — |
| 14 Aug 2026 · Indo Amines publishes Q1 FY27 results in newspapers | compliance | minimal | — | — |
| 12 Aug 2026 · Indo Amines Q1 FY26-27 Results: Revenue up 35%, Net Profit up 20% | board shareholder meetings | medium | — | — |
| 12 Aug 2026 · Indo Amines Q1 FY27 profit up 20 percent on revenue growth of 36 percent | results | high | — | — |
| 12 Aug 2026 · GPCB revokes closure order for Indo Amines Vadodara plant | capex operations | high | — | — |
| 5 Aug 2026 · Board meeting on 12 Aug 2026 to consider Q1 FY27 results | results | low | — | — |
| 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 |
| AETHER INDUSTRIES LIMITED |
| 22,229 |
| 94.3 |
| 9.05 |
| 60.4 |
| 8.9 |
| 11.4 |
| — |
| 33.8 |
| DEEPAK NITRITE LTD | 21,769 | 27.8 | 3.71 | 22.4 | 9.4 | 10.2 | 12.6 | 21.5 |
| ATUL LTD | 18,401 | 23.1 | 2.92 | 14.9 | 10.9 | 13.3 | 10.9 | 23.1 |
| AARTI INDUSTRIES LTD | 17,846 | 33.6 | 3.00 | 18.8 | 7.0 | 4.4 | 13.0 | 16.2 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 11.6 | 23.4 | 16 of 103 | 85% |
| P/B | 2.4 | 2.9 | 38 of 99 | 62% |
| ROCE | 21.6 | 10.3 | 15 of 108 | 87% |
| ROE | 20.1 | 8.1 | 11 of 101 | 90% |
| Debt / Equity | 0.8 | 0.2 | 89 of 101 | 12% |
| EBITDA margin | 14.5 | 15.5 | 52 of 99 | 48% |
| Revenue growth | 30.3 | 24.4 | 34 of 94 | 65% |
| Profit growth | 6.6 | 55.1 | 66 of 92 | 29% |
| Market cap | 929 | 732 | 50 of 107 | 54% |
| 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 |
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.
