Amines & Plasticizers Ltd. (AMNPLST) AI Stock Analysis

• Market Cap: ₹8.52B
• Dividend Yield: 0.26%
• Average Volume (3M): 709.00
• Price to Earnings (P/E): 25.1
• Beta (1Y): 1.40
• Revenue Growth: -4.07%
• EPS Growth: -12.36%
• Country: IN
• Employees: 260
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals
• EPS (TTM): 1.38
• Shares Outstanding: 55,020,000
• 10 Day Avg. Volume: 679
• 30 Day Avg. Volume: 709
• PEG Ratio: 10.08
• Price to Book (P/B): 4.64
• Price to Sales (P/S): 1.81
• P/FCF Ratio: 46.77
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 60 Neutral
• Price Target: ₹162.00 ▼(-17.20% Downside)
• Action: Downgraded Date: 11/21/25
• Date: Action: Downgraded 11/21/25

Amines & Plasticizers Ltd. has a strong financial foundation with solid profitability and effective cash flow management. However, the technical analysis indicates bearish momentum, and the valuation metrics suggest the stock may be overvalued. These factors contribute to a moderate overall stock score.

Positive Factors

Sustained Profitability

Consistently healthy gross and operating margins indicate the company earns adequate spreads on chemicals operations, supporting durable profitability. These margins provide buffer against input-cost swings, fund reinvestment and support steady earnings generation over the medium term.

Strong Return on Equity and Capital Structure

A high equity ratio and low leverage combined with a 15.9% ROE reflect efficient use of capital and conservative financing. This structure enhances resilience in cyclical environments and preserves financial flexibility for capex, M&A or shareholder returns over the next several quarters.

Robust Operating Cash Generation

Solid operating cash flow and a 0.71 OCF-to-net-income ratio show strong cash conversion of earnings. Reliable cash generation supports working capital, services debt and funds selective capex or dividends, supporting sustainable operations and strategic choices over 2–6 months.

Negative Factors

Recent Top-line Contraction

A material decline in reported revenue growth signals demand weakness or lost volumes in end markets. Sustained top-line contraction undermines margin leverage and makes earnings recovery more uncertain, complicating planning and capital allocation in the medium term.

Earnings Deterioration

A double-digit drop in EPS points to pressure on profitability beyond single-quarter noise. Declining earnings reduce retained earnings available for reinvestment, limit ability to raise funds internally, and increase sensitivity to cost and demand swings over coming quarters.

Negative Free Cash Flow Growth

Although operating cash is strong, negative free cash flow growth indicates less cash available after investments or that FCF benefited from lower capex rather than operational improvement. That can constrain long-term reinvestment and signal underinvestment or cyclical capex timing risk.

Amines & Plasticizers Ltd. Business Overview & Revenue Model

Company Description

Amines & Plasticizers Ltd. is a holding company, which engages in the production of organic chemicals. Its products include ethanolamines, alkyl alkonolamines, morpholine, alkyl morpholine, and gas treating solvents. It operates through the Chemicals and Software business segments. The company was founded in 1973 and is headquartered in Mumbai, India.

How the Company Makes Money

Amines & Plasticizers Ltd. generates revenue primarily through the production and sale of its chemical products, such as amines and plasticizers. The company operates on a business-to-business (B2B) model, supplying its products to manufacturers in various industries, which forms the core of its revenue stream. Key revenue sources include long-term contracts with major clients in the plastics and textiles sectors, as well as spot sales to smaller companies. Additionally, AMNPLST benefits from strategic partnerships with other chemical manufacturers and distributors, enabling broader market access and enhanced product offerings. The company also invests in research and development to innovate new products, which can lead to increased market share and profitability over time.

Amines & Plasticizers Ltd. Financial Statement Overview

Summary

Amines & Plasticizers Ltd. demonstrates strong financial performance with solid profitability, robust equity, and effective cash flow management. The income statement shows strong profitability with a net profit margin of 6.2% and healthy operational management. The balance sheet reflects a solid equity position with a strong return on equity of 15.9%. The cash flow statement indicates robust operating cash flow, though free cash flow growth is negative due to lower capital expenditures.

Income Statement

Amines & Plasticizers Ltd. exhibits strong profitability with a gross profit margin of approximately 25.6% and a net profit margin of 6.2% for the latest fiscal year. The revenue growth rate of 2.1% indicates steady growth, and both EBIT and EBITDA margins are healthy at 9.6% and 10.6%, respectively, showing efficient operational management.

Balance Sheet

The company's balance sheet reflects a solid equity position with an equity ratio of 62.1% and a moderate debt-to-equity ratio of 0.30, suggesting prudent financial leverage. The return on equity is strong at 15.9%, indicating effective utilization of equity to generate profits.

Cash Flow

The cash flow statement shows a positive trend in free cash flow, albeit with a decrease compared to the previous year. Operating cash flow is robust, providing a healthy operating cash flow to net income ratio of 0.71. However, free cash flow growth is negative due to lower capital expenditures.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	6.64B	6.61B	6.47B	5.97B	5.63B	4.39B
Gross Profit	1.73B	1.69B	1.50B	840.89M	814.93M	1.01B
EBITDA	681.36M	702.57M	718.20M	452.35M	453.66M	574.96M
Net Income	397.75M	410.01M	398.28M	228.72M	238.57M	325.94M
Balance Sheet
Total Assets	0.00	4.16B	3.89B	3.44B	3.10B	3.05B
Cash, Cash Equivalents and Short-Term Investments	457.46M	461.28M	392.63M	91.95M	33.12M	459.47M
Total Debt	0.00	772.00M	850.00M	847.93M	721.21M	736.53M
Total Liabilities	-2.59B	1.58B	1.69B	1.61B	1.48B	1.64B
Stockholders Equity	2.59B	2.59B	2.20B	1.83B	1.62B	1.41B
Cash Flow
Free Cash Flow	0.00	256.37M	431.38M	-77.72M	-349.00M	277.57M
Operating Cash Flow	0.00	291.39M	468.50M	-55.82M	-265.60M	386.57M
Investing Cash Flow	0.00	-27.29M	-13.93M	-23.92M	-35.31M	-58.70M
Financing Cash Flow	0.00	-203.67M	-156.27M	4.00M	-125.44M	60.55M

Amines & Plasticizers Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 195.65
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:AMNPLST, the sentiment is Negative. The current price of 195.65 is above the 20-day moving average (MA) of 166.16, above the 50-day MA of 179.09, and below the 200-day MA of 210.76, indicating a bearish trend. The MACD of -5.84 indicates Positive momentum. The RSI at 32.06 is Neutral, neither overbought nor oversold. The STOCH value of 9.55 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:AMNPLST.

Amines & Plasticizers Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HARIOMPIPE	66 Neutral	₹11.40B	18.14	―	0.17%	17.98%	-0.62%
INDOAMIN	63 Neutral	₹7.84B	11.10	―	0.38%	13.01%	32.44%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
JAYAGROGN	60 Neutral	₹8.58B	12.09	―	1.23%	0.69%	-7.54%
AMNPLST	60 Neutral	₹8.52B	25.07	―	0.26%	-4.07%	-12.36%
MANALIPETC	49 Neutral	₹9.54B	8.54	―	0.82%	-2.41%	178.19%
OAL	46 Neutral	₹9.31B	1,246.84	―	0.17%	12.25%	-74.52%

Amines & Plasticizers Ltd. Corporate Events

Amines & Plasticizers Flags Tax Show-Cause Notices, Sees No Material Impact

Amines & Plasticizers Ltd. has disclosed that it received show-cause notices from the Income Tax Department under Section 147 of the Income Tax Act for assessment years 2013-14, 2014-15 and 2015-16, relating to commissions paid to selling agents and seeking evidence on the genuineness of these transactions. The company has stated, based on a preliminary assessment and legal advice, that it does not expect any material impact on its financial or operational activities despite indicated disallowance amounts, and no penalties or sanctions have yet been imposed.

The notices outline potential disallowances of expenditure totaling several crore rupees across the three years, but the firm emphasized that these figures reflect only proposed disallowances, not actual liabilities, which will depend on the outcome of its representations to the tax authorities. By formally notifying the exchanges and publishing the intimation on its website, Amines & Plasticizers aims to reassure investors about transparency and to signal that the matter currently appears contained in terms of risk to its business and stakeholders.

Amines & Plasticizers Wins Waiver of Exchange Fines Over Committee Vacancies

Amines & Plasticizers Ltd. has disclosed that stock exchange fines previously imposed for short-term vacancies in its Audit, Nomination and Remuneration, and Stakeholders Relationship Committees have been waived. The fines, totaling Rs. 90,000 each by BSE and NSE for committee vacancies spanning brief periods in the September and December 2024 quarters, arose from non-compliance with listing regulations.

Following a waiver application, BSE, the company’s designated exchange, approved a waiver of the Rs. 90,000 fine on February 26, 2026. Under August 2025 circulars on commonly listed entities, this approval automatically extends to NSE as well, relieving the company of the combined penalty and signaling a resolution of this compliance lapse without financial impact.

Exchange Seeks Clarification from Amines & Plasticizers on Sharp Share Price Move

The stock of Amines & Plasticizers Ltd. has seen significant price movement, prompting the stock exchange to seek clarification from the company. The exchange has requested updated, relevant information to safeguard investor interests and ensure transparent disclosure to the market, and the company’s response is currently awaited, leaving stakeholders watching for any clarification that could explain the volatility.