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Indo Amines Ltd (INDOAMIN)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 524648 NSE: INDOAMIN Chemicals | Small Cap | Indo Amines Share Price
₹134.60 1.65 (1.24%)
As on 22-Sep'26 16:59
Indo Amines Ltd (INDOAMIN)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 524648 NSE: INDOAMIN Chemicals | Small Cap | Indo Amines Share Price
₹134.60 1.65 (1.24%)
As on 22-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹977 Cr.
Current Price
₹134.6
52-Week Low / High
₹82 / 151
TTM EPS
₹11.2
TTM Sales
₹1,247 Cr.
Book Value per Share
₹58.3
P/E Ratio
12.03
Lower than its 5-year historical median
Industry PE
48.3
Price to Book (P/B)
2.31
Lower than its 5-year historical median
Price to Sales (P/S)
0.78
Lower than its 5-year historical median
EV/EBITDA
7.97
Lower than its 5-year historical median
Dividend Yield
0.37%
Profitability Efficiency
Return on Equity (ROE)
19.28%
Outperforms industry median
Return on Capital Employed (ROCE)
18.36%
Outperforms industry median
Return on Assets (ROA)
7.92%
Operating Profit Margin
9.4%
Net Profit Margin
5.18%
Gross Profit Margin
6.4%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
14.21%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
27.35%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
30.58%
Asset Quality
Promoter Holding
58.42%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹387 Cr.
Equity
₹36.3 Cr.
Face Value
₹5
All Time Low / High
₹0.08 / 247.90
Check Before You Invest
Quality
Somewhat GoodValuation
Somewhat UndervaluedCheck Valuation charts
Price Trend
Strong
Is Indo Amines Ltd a good quality company?
Indo Amines Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Indo Amines Ltd performance compare with that of its Peers?
Revenue growth of Indo Amines Ltd vs industry peers?
Indo Amines Ltd revenue CAGR is 17.64%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Indo Amines Ltd?
Promoters hold 58.42% of the Indo Amines Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Indo Amines Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 17.8% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Indo Amines Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 18.8% | 24.1% | 21.2% | 22.3% | 11.2% | 17.7% | 13.9% | 16.7% | 17.7% | 19.5% | - |
| Value Creation Index ⓘ | 0.3 | 0.7 | 0.5 | 0.6 | -0.2 | 0.3 | 0.0 | 0.2 | 0.3 | 0.4 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 243 | 278 | 347 | 527 | 472 | 539 | 780 | 922 | 925 | 1,057 | 1,214 |
| Sales YoY Gr. | - | 14.6% | 24.8% | 51.8% | -10.4% | 14.2% | 44.7% | 18.2% | 0.3% | 14.2% | - |
| Adj EPS ⓘ | 1.3 | 2.2 | 1.8 | 3 | 1.5 | 4.1 | 3.1 | 5.5 | 5.2 | 7.7 | 11.7 |
| YoY Gr. | - | 65.4% | -14.4% | 64.7% | -51.5% | 181% | -24% | 75.2% | -4.9% | 48% | - |
| BVPS (₹) ⓘ | 7.4 | 10 | 11.4 | 17.2 | 18.5 | 22.5 | 25.7 | 30.5 | 36.3 | 43.4 | 57.9 |
| Adj Net Profit ⓘ | 8.6 | 14.4 | 12.3 | 21.4 | 10.4 | 29.2 | 22.2 | 38.9 | 37 | 56.2 | 85 |
| Cash Flow from Ops. ⓘ | 19.2 | 12.7 | 10.5 | 18.6 | 37.5 | 53.3 | -7.4 | 19.2 | 68.9 | 38.6 | - |
| Debt/CF from Ops. ⓘ | 2.5 | 4.8 | 8.3 | 7 | 3.8 | 3 | -27.8 | 12 | 3.1 | 7.3 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 17.8% | 17.5% | 10.6% | 14.2% | ||||
| Adj EPS ⓘ | 21.9% | 39.4% | 35.1% | 48% | ||||
| BVPSⓘ | 21.7% | 18.6% | 19.1% | 19.8% | ||||
| Share Price | 17.9% | 0.4% | 3.6% | -4.9% | ||||
Key Financial Parameters ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 18.5 | 24.9 | 17 | 21.4 | 8.2 | 19.9 | 12.9 | 19.4 | 15.6 | 19.7 | 23.1 |
| Op. Profit Mgn % ⓘ | 11.7 | 12.2 | 11 | 10.2 | 9 | 10.4 | 6.7 | 9.2 | 8.7 | 10 | 12 |
| Net Profit Mgn % ⓘ | 3.5 | 5.2 | 3.5 | 4.1 | 2.2 | 5.4 | 2.9 | 4.2 | 4 | 5.3 | 7 |
| Debt to Equity ⓘ | 1 | 0.9 | 1.1 | 1.1 | 1.1 | 1 | 1.1 | 1.1 | 0.8 | 0.9 | - |
| Working Cap Days ⓘ | 130 | 138 | 138 | 112 | 140 | 147 | 108 | 107 | 113 | 115 | 78 |
| Cash Conv. Cycle ⓘ | 41 | 45 | 43 | 39 | 56 | 58 | 40 | 45 | 51 | 54 | 18 |
Valuation of Indo Amines - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 253 | 286 | 355 | 528 | 479 | 541 | 786 | 945 | 944 | 1,079 |
| Operating Expenses ⓘ + | 222 | 250 | 315 | 473 | 437 | 479 | 734 | 858 | 864 | 978 |
| Operating Profit ⓘ | 30 | 36 | 41 | 55 | 42 | 61 | 52 | 87 | 79 | 101 |
| Operating Profit Margin (%) | 11.9% | 12.5% | 11.4% | 10.5% | 8.8% | 11.3% | 6.6% | 9.2% | 8.4% | 9.4% |
| Other Income ⓘ + | 1 | 5 | 4 | 7 | 7 | 8 | 10 | 4 | 16 | 15 |
| Interest ⓘ | 4 | 6 | 8 | 10 | 11 | 9 | 14 | 17 | 22 | 22 |
| Depreciation ⓘ | 12 | 12 | 12 | 15 | 20 | 11 | 14 | 17 | 15 | 17 |
| Profit Before Tax ⓘ | 15 | 23 | 25 | 38 | 18 | 49 | 35 | 57 | 58 | 77 |
| Tax ⓘ | 6 | 7 | 9 | 13 | 6 | 12 | 11 | 16 | 15 | 21 |
| Profit After Tax | 9 | 16 | 16 | 25 | 13 | 37 | 23 | 41 | 43 | 56 |
| PAT Margin (%) | 3.6% | 5.6% | 4.4% | 4.8% | 2.7% | 6.9% | 2.9% | 4.3% | 4.5% | 5.2% |
| Adjusted EPS (₹) | 1.4 | 2.4 | 2.3 | 3.6 | 1.8 | 5.4 | 3.2 | 5.7 | 6.0 | 7.6 |
| Dividend Payout Ratio (%) | 36.20% | 20.70% | 21.40% | 14.10% | 27.60% | 10.30% | 15.50% | 8.70% | 8.30% | 6.60% |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 50 | 69 | 81 | 125 | 135 | 163 | 187 | 225 | 263 | 317 | |
| Debt + | 46 | 56 | 82 | 120 | 129 | 148 | 188 | 212 | 194 | 252 | |
| Minority Interest | 0 | 0 | 0 | 0 | -1 | -0 | 0 | 0 | 0 | 1 | |
| Trade Payables | 30 | 40 | 63 | 77 | 67 | 104 | 126 | 104 | 118 | 128 | |
| Others Liabilities ⓘ | 39 | 44 | 18 | 22 | 29 | 36 | 53 | 55 | 58 | 82 | |
| Total Liabilities ⓘ | 165 | 209 | 244 | 344 | 360 | 450 | 554 | 597 | 633 | 779 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 51 | 63 | 70 | 116 | 117 | 125 | 182 | 198 | 209 | 265 | |
| CWIP ⓘ | 0 | 2 | 5 | 8 | 24 | 54 | 22 | 21 | 23 | 35 | |
| Investments ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 3 | |
| Inventories | 27 | 33 | 52 | 66 | 82 | 88 | 123 | 136 | 114 | 140 | |
| Trade Receivables | 46 | 61 | 74 | 113 | 96 | 131 | 167 | 187 | 217 | 255 | |
| Cash Equivalents | 6 | 5 | 8 | 10 | 10 | 15 | 24 | 18 | 20 | 15 | |
| Others Assets ⓘ | 35 | 44 | 35 | 32 | 31 | 37 | 36 | 37 | 48 | 66 | |
| Total Assets ⓘ | 165 | 209 | 244 | 344 | 360 | 450 | 554 | 597 | 633 | 779 | |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 19 | 15 | 8 | 27 | 39 | 56 | 15 | 20 | 70 | 35 |
| Cash Flow From Investing Activity ⓘ + | -10 | -23 | -21 | -43 | -36 | -50 | -39 | -30 | -27 | -82 |
| Cash Flow From Financing Activity ⓘ + | -9 | 7 | 16 | 17 | -3 | -1 | 32 | 4 | -41 | 42 |
| Net Cash Flow ⓘ | 0 | -1 | 3 | 2 | 0 | 5 | 9 | -5 | 2 | -5 |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 19.2 | 27.12 | 20.98 | 24.87 | 9.97 | 25.42 | 13.26 | 19.94 | 17.58 | 19.28 |
| ROCE (%) | 19.18 | 24.64 | 21.56 | 22.54 | 10.99 | 19.49 | 13.58 | 17.43 | 17.16 | 18.36 |
| Asset Turnover Ratio | 1.78 | 1.72 | 1.79 | 2.11 | 1.73 | 1.65 | 2.17 | 2.3 | 2.14 | 2.08 |
| PAT to CFO Conversion(x) | 2.11 | 0.94 | 0.5 | 1.08 | 3 | 1.51 | 0.65 | 0.49 | 1.63 | 0.63 |
| Working Capital Days | ||||||||||
| Receivable Days | 54.50 | 60.50 | 60.90 | 54.90 | 62.60 | 62.10 | 49.90 | 48.80 | 56.20 | 58.80 |
| Inventory Days | 34.50 | 34 | 38.50 | 34.70 | 44.30 | 46.40 | 35.20 | 35.60 | 34.70 | 31.60 |
| Payable Days | 75 | 69.20 | 86.10 | 75.30 | 90.20 | 98.30 | 85.30 | 66.30 | 63.50 | 63.90 |
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Indo Amines Ltd FAQs
The current trading price of Indo Amines on 22-Sep-2026 16:59 is ₹134.6.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 21-Sep-2026 the market cap of Indo Amines stood at ₹977.0 Cr
The latest P/E ratio of Indo Amines as of 21-Sep-2026 is 11.51.
The latest P/B ratio of Indo Amines as of 21-Sep-2026 is 2.32.
The 52-week high of Indo Amines is ₹150.8 and the 52-week low is ₹82.00.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Indo Amines is ₹1,214 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Indo Amines Ltd is a average quality company.
The key valuation ratios of Indo Amines Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Indo Amines Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing
About Indo Amines Ltd
Indo Amines Ltd. was established in 1979 as Techno Chemical Industries. The major focus of the company was to provide India with import substitues, providing the support & service of just in time supplies of chemicals. Focusing on core chemistries of high pressure hydrogenation, Indo Amines Ltd diversified into fine & speciality chemicals , a growing opportunity to expand.
The company is one of the India’s largest independent manufacturers of fine, specialty and performance chemicals providing a comprehensive package of products and technical services for Indian global markets.
In 1994 Techno Chemical Industries went public to emerge as Indo Amines which had two manufacturing sites focusing on fine & specialty to become one of India's leading manufacturer.
In 2001, Indo Amines had a focus on exports with the expanding market & opportunities which we could foresee for growth.In 2003 , Research & Development took a major lead role. Continuous efforts were being made to bring in Product & Internationally recognized Quality standards.
Indo Amines has developed emulsifiers for obtaining stable emulsion applicable for various industries including petroleum and agrochemicals. These formulations are quaternary ammonium compounds blended with other additives based on the application and the result desired.
Product range of the company includes:
Indo Amines Ltd manufactures various types of fatty amines, amine derivatives that are used by various industries for direct application. Its products also have specialized process application for various industries and their processes.
Fine chemicals
- Aliphatic Amines
- Aromatic Amines
- Amine Ethoxylates
- Cycloalkanones
- Cycloalkanols
- Halides
- Alcohols
- Aliphatic Nitriles
- Aromatic Nitriles
- Acids & Esters
- Bulk Drugs & Advanced Intermediates
- Misc.
Speciality chemicals
- Fatty Acids
- Fatty Amides
- Fatty Amines
- Fatty Diamines
- Fatty PolyAmines
- Fatty Tertiary Amines
- Fatty Ethoxylates
- Quaternary Ammonium Compounds
Peformance Chemicals
- Fertilizers
- Road Construction
- Plastics
- Paper
- PetroChemicals
- AgroChemicals
- Pharma
Custom Synthesis
Achievements/ recognition:
- Indo Amines Ltd has been awarded a CRISIL rating
- ISO 9001-2000 certification.
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