Chemicals · Founded 1974 · www.amal.co.in · BSE 506597 · NSE AMAL PRODUCT · ISIN INE841D01013
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Business
Amal Ltd. is an Indian company operating in the Chemicals sector. As a chemical company, its core business model typically involves the manufacturing, processing, and distribution of various chemical products. This can range from bulk chemicals (commodities) used in large quantities by other industries to specialty chemicals, which are high-value, performance-oriented products tailored for specific applications. The company makes money by selling these chemical products to a diverse range of industrial customers across different end-user sectors.
Revenue Mix
Specific details regarding Amal Ltd.'s key business segments and their revenue contribution are not available. In the chemicals industry, common segments often include basic/bulk chemicals, specialty chemicals, agrochemicals, pharmaceuticals intermediates, dyes & pigments, and performance chemicals. Without further information, it is not possible to determine Amal Ltd.'s specific segment focus or revenue breakdown.
Industry
Amal Ltd. operates within the Indian Chemicals industry, which is diverse, encompassing both commodity and specialty chemicals. The industry is generally characterized by its cyclical nature (especially for commodity chemicals), capital intensity, and susceptibility to raw material price fluctuations and environmental regulations. India is a significant player in the global chemical market, benefiting from a large domestic consumption base and cost advantages. Without specific market share data or product details, Amal Ltd.'s precise positioning against its peers (e.g., as a leader in a niche, a diversified player, or a cost-effective manufacturer) cannot be determined. It operates in a competitive landscape with both domestic and international players.
MOAT
Specific competitive advantages for Amal Ltd. are not explicitly known. Potential moats in the chemicals industry could include:
Process Expertise: Proprietary manufacturing processes leading to cost efficiency or superior product quality.
Regulatory Approvals/Licenses: Difficult-to-obtain permits for certain specialized chemicals.
Customer Relationships & Switching Costs: Long-standing relationships with industrial customers where switching suppliers can be costly or complex.
Backward Integration: Control over key raw material inputs, reducing supply chain risks and costs.
R&D Capabilities: Ability to innovate and develop new, high-value products.
Without company-specific information, it's speculative to pinpoint Amal Ltd.'s durable advantages.
Growth Drivers
Key factors that could drive growth for Amal Ltd. over the next 3-5 years, assuming it aligns with broader industry trends, include:
Increasing Domestic Demand: Growth in end-user industries such as pharmaceuticals, agrochemicals, textiles, automotive, and construction within India.
"China Plus One" Strategy: Global companies diversifying their supply chains away from China, potentially benefiting Indian chemical manufacturers.
Government Initiatives: Policy support for manufacturing and 'Make in India' campaigns.
Specialty Chemicals Focus: Higher demand and better margins for specialty chemicals driven by innovation and specific application needs.
Exports: Opportunities in global markets, especially for competitive product offerings.
Risks
Amal Ltd., like other companies in the chemicals sector, faces several risks:
Raw Material Price Volatility: Fluctuations in the prices of crude oil, natural gas, and other commodity inputs can significantly impact profitability.
Environmental & Regulatory Risks: Stringent environmental regulations and compliance costs, as well as potential liabilities from chemical waste.
Global Competition: Intense competition from both domestic and international players, including those with larger scale or technological advantages.
Economic Downturns: Reduced demand from industrial customers during economic slowdowns.
Currency Fluctuations: Exposure to foreign exchange risks for imports of raw materials or exports of finished goods.
Technological Obsolescence: Failure to invest in R&D and keep pace with evolving chemical processes or product demands.
Management & Ownership
Specific details about Amal Ltd.'s promoters, management quality, or precise ownership structure are not available. Generally, many Indian companies are promoter-driven, with significant ownership held by founding families or groups. The quality of management (experience, strategic vision, governance practices) is crucial for long-term success. Ownership structures can vary, including institutional holdings, public shareholders, and promoter stakes.
Outlook
The outlook for Amal Ltd. is inherently linked to the broader Indian chemicals industry, which presents a mixed but generally positive long-term picture. On the positive side, India's growing economy, expanding manufacturing sector, and global supply chain realignments offer significant opportunities for chemical producers. Demand from key end-user industries is expected to remain robust. However, the company will likely face ongoing challenges related to raw material price volatility, increasing environmental compliance costs, and intense competition. Its success will depend on its ability to manage costs, innovate, comply with regulations, and strategically position its product portfolio within the diverse chemical landscape.
| #(Fig in Cr.) | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 21 | 30 | 46 | 39 | 47 | 54 | 63 | 76 | 97 | 131 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 6 | 2 |
| Total Income | 21 | 30 | 46 | 39 | 48 | 54 | 63 | 76 | 103 | 133 |
| Total Expenditure | 17 | 21 | 25 | 28 | 36 | 45 | 55 | 68 | 79 | 123 |
| Operating Profit | 3 | 9 | 20 | 11 | 12 | 9 | 9 | 8 | 23 | 11 |
| Interest | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 6 | 18 | 8 | 10 | 7 | 6 | 6 | 21 | 8 |
| Provision for Tax | -0 | 1 | 1 | 2 | 0 | 1 | 1 | 4 | 4 | 2 |
| Profit After Tax | 0 | 6 | 17 | 7 | 9 | 6 | 5 | 2 | 17 | 6 |
| Adjustments | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | 6 | 17 | 7 | 9 | 6 | 5 | 2 | 17 | 6 |
| Adjusted Earnings Per Share | 0.4 | 4.5 | 13.4 | 5.5 | 7.6 | 4.9 | 4.1 | 1.5 | 13.5 | 5 |
| #(Fig in Cr.) | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|
| Net Sales | 33 | 30 | 43 | 61 | 86 | 135 | 240 | 367 |
| Other Income | 2 | 1 | 0 | 1 | 0 | 1 | 2 | 10 |
| Total Income | 34 | 32 | 44 | 62 | 86 | 136 | 242 | 375 |
| Total Expenditure | 19 | 19 | 40 | 67 | 71 | 92 | 204 | 325 |
| Operating Profit | 16 | 13 | 4 | -5 | 16 | 44 | 38 | 51 |
| Interest | 2 | 1 | 1 | 4 | 4 | 2 | 1 | 0 |
| Depreciation | 1 | 1 | 2 | 7 | 9 | 9 | 9 | 8 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 13 | 11 | 2 | -16 | 3 | 33 | 28 | 41 |
| Provision for Tax | 4 | 2 | 1 | 0 | 1 | 3 | 6 | 11 |
| Profit After Tax | 9 | 9 | 1 | -16 | 2 | 29 | 22 | 30 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 9 | 9 | 1 | -16 | 2 | 29 | 22 | 30 |
| Adjusted Earnings Per Share | 8.9 | 8.5 | 1.1 | -13 | 1.4 | 23.7 | 18.1 | 24.1 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 78% | 58% | 52% | 0% |
| Operating Profit CAGR | -14% | 0% | 24% | 0% |
| PAT CAGR | -24% | 0% | 20% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -12% | 24% | 13% | 26% |
| ROE Average | 20% | 19% | 6% | 14% |
| ROCE Average | 26% | 23% | 12% | 20% |
| #(Fig in Cr.) | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 26 | 34 | 35 | 68 | 70 | 99 | 120 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 3 | 4 | 42 | 24 | 19 | 0 | 0 |
| Other Non-Current Liabilities | 5 | 3 | 1 | 3 | 1 | 2 | 5 |
| Total Current Liabilities | 4 | 9 | 23 | 25 | 18 | 23 | 31 |
| Total Liabilities | 38 | 51 | 101 | 121 | 107 | 124 | 157 |
| Fixed Assets | 9 | 9 | 14 | 90 | 86 | 80 | 77 |
| Other Non-Current Assets | 5 | 14 | 69 | 10 | 3 | 2 | 6 |
| Total Current Assets | 24 | 27 | 17 | 21 | 18 | 42 | 74 |
| Total Assets | 38 | 51 | 101 | 121 | 107 | 124 | 157 |
| #(Fig in Cr.) | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 1 | 1 | 0 | 3 | 1 | 3 |
| Cash Flow from Operating Activities | 14 | 10 | -1 | -10 | 21 | 50 | 22 |
| Cash Flow from Investing Activities | -5 | -11 | -43 | -16 | -9 | -22 | -22 |
| Cash Flow from Financing Activities | -9 | 0 | 44 | 29 | -14 | -25 | -1 |
| Net Cash Inflow / Outflow | 0 | 0 | -0 | 3 | -2 | 3 | -1 |
| Closing Cash & Cash Equivalent | 1 | 1 | 0 | 3 | 1 | 3 | 2 |
| # | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 8.85 | 8.47 | 1.07 | -13.03 | 1.38 | 23.69 | 18.11 |
| CEPS(Rs) | 9.67 | 9.39 | 2.7 | -7.61 | 8.69 | 31.13 | 25.63 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 1 | 1.5 |
| Book NAV/Share(Rs) | 24.58 | 32.99 | 34.04 | 55.31 | 56.54 | 80.23 | 97.37 |
| Core EBITDA Margin(%) | 42.66 | 37 | 9.03 | -8.95 | 17.76 | 31.91 | 14.83 |
| EBIT Margin(%) | 45.37 | 37.95 | 5.87 | -18.32 | 7.52 | 25.52 | 11.9 |
| Pre Tax Margin(%) | 38.93 | 35.54 | 3.7 | -25.07 | 3.21 | 24.03 | 11.63 |
| PAT Margin (%) | 28.19 | 28.92 | 2.53 | -25.74 | 1.97 | 21.58 | 9.31 |
| Cash Profit Margin (%) | 30.81 | 32.06 | 6.41 | -15.04 | 12.41 | 28.36 | 13.18 |
| ROA(%) | 24.03 | 19.77 | 1.46 | -14.51 | 1.49 | 25.29 | 15.94 |
| ROE(%) | 36.01 | 29.43 | 3.19 | -31.05 | 2.47 | 34.65 | 20.39 |
| ROCE(%) | 49.28 | 33.02 | 4.07 | -12.1 | 6.61 | 35.94 | 26.06 |
| Receivable days | 79.9 | 71.73 | 25.69 | 16.21 | 20.36 | 20.7 | 22.4 |
| Inventory Days | 10.46 | 13.87 | 16.42 | 17.5 | 14.6 | 12.39 | 13.55 |
| Payable days | 97.04 | 105.77 | 41.96 | 27.4 | 34.06 | 46.86 | 31.61 |
| PER(x) | 9.85 | 40.96 | 349.98 | 0 | 255.77 | 28.24 | 22.82 |
| Price/Book(x) | 3.55 | 10.52 | 10.98 | 3.28 | 6.24 | 8.34 | 4.24 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0.15 | 0.36 |
| EV/Net Sales(x) | 2.9 | 12.01 | 10.1 | 4.18 | 5.33 | 6.09 | 2.12 |
| EV/Core EBITDA(x) | 6.04 | 29.24 | 102.89 | -53.74 | 29.53 | 18.79 | 13.42 |
| Net Sales Growth(%) | 0 | -6.69 | 42.93 | 41.02 | 40.41 | 57.17 | 77.09 |
| EBIT Growth(%) | 0 | -21.95 | -77.74 | -546.05 | 156.74 | 432.56 | -17.41 |
| PAT Growth(%) | 0 | -4.29 | -87.39 | -1551.69 | 110.58 | 1618.41 | -23.58 |
| EPS Growth(%) | 0 | -4.29 | -87.39 | -1319.31 | 110.58 | 1618.44 | -23.58 |
| Debt/Equity(x) | 0.18 | 0.17 | 1.44 | 0.51 | 0.34 | 0 | 0 |
| Current Ratio(x) | 5.67 | 3.11 | 0.74 | 0.84 | 0.99 | 1.8 | 2.37 |
| Quick Ratio(x) | 5.45 | 2.95 | 0.63 | 0.7 | 0.8 | 1.55 | 1.98 |
| Interest Cover(x) | 7.04 | 15.74 | 2.7 | -2.71 | 1.75 | 17.08 | 43.77 |
| Total Debt/Mcap(x) | 0.05 | 0.02 | 0.13 | 0.16 | 0.05 | 0 | 0 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 71.33 | 71.35 | 71.35 | 71.35 | 71.35 | 71.35 | 71.35 | 71.35 | 71.35 | 71.35 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 | 0.03 |
| Public | 28.65 | 28.64 | 28.64 | 28.64 | 28.64 | 28.64 | 28.64 | 28.64 | 28.62 | 28.62 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.88 | 0.88 | 0.88 | 0.88 | 0.88 | 0.88 | 0.88 | 0.88 | 0.88 | 0.88 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.35 | 0.35 | 0.35 | 0.35 | 0.35 | 0.35 | 0.35 | 0.35 | 0.35 | 0.35 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.24 | 1.24 | 1.24 | 1.24 | 1.24 | 1.24 | 1.24 | 1.24 | 1.24 | 1.24 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +78% | +58% | +52% | — |
| Operating Profit CAGR | -14% | — | +24% | — |
| PAT CAGR | -24% | — | +20% | — |
| Share Price CAGR | -12% | +24% | +13% | +26% |
| ROE Average | +20% | +19% | +6% | +14% |
| ROCE Average | +26% | +23% | +12% | +20% |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 71.33 | 71.35 | 71.35 | 71.35 | 71.35 | 71.35 | 71.35 | 71.35 | 71.35 | 71.35 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 | 0.03 |
| Public | 28.65 | 28.64 | 28.64 | 28.64 | 28.64 | 28.64 | 28.64 | 28.64 | 28.62 | 28.62 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.88 | 0.88 | 0.88 | 0.88 | 0.88 | 0.88 | 0.88 | 0.88 | 0.88 | 0.88 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.35 | 0.35 | 0.35 | 0.35 | 0.35 | 0.35 | 0.35 | 0.35 | 0.35 | 0.35 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.24 | 1.24 | 1.24 | 1.24 | 1.24 | 1.24 | 1.24 | 1.24 | 1.24 | 1.24 |
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