Amines & Plasticizers Ltd. (AMNPLST) AI Stock Analysis

• Market Cap: ₹8.25B
• Dividend Yield: 0.26%
• Average Volume (3M): 709.00
• Price to Earnings (P/E): 33.6
• Beta (1Y): 1.31
• 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: ₹157.00 ▼(-19.75% 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

Strong profitability and margins

Sustained gross and operating margins demonstrate durable pricing power and efficient cost structure. Margin levels near 10% EBIT and 25% gross provide ongoing cash generation capacity and buffer against cyclical revenue swings, supporting reinvestment and shareholder returns over months.

Solid balance sheet and return on equity

High equity ratio and low leverage create financial flexibility for capital allocation and downturn resilience. A 15.9% ROE indicates efficient use of equity to generate profits, enabling sustainable investment in growth or dividends without stressing the balance sheet.

Robust operating cash flow generation

A healthy operating cash flow and a 0.71 OCF-to-net-income ratio indicate reliable cash conversion of earnings. Strong OCF supports working capital, debt servicing and selective capex, improving the company's ability to fund operations and strategic plans over the medium term.

Negative Factors

Negative revenue and EPS trends

Material year-over-year declines in reported revenue and EPS signal weakening top-line momentum and earnings power. If these trends persist, they can erode pricing leverage and strain profitability, reducing the firm's ability to invest or absorb shocks across the 2–6 month horizon.

Negative free cash flow growth

Declining free cash flow growth—driven by reduced capex—limits organic reinvestment and may reflect deferred maintenance or growth spending. Persistent negative FCF growth weakens funding capacity for strategic initiatives and increases reliance on external financing for expansion.

Modest net margin leaves limited downside cushion

Net margins in the mid-single-digits provide less room to absorb raw material inflation or demand shocks versus higher-margin peers. With modest operating leverage, margin compression could more quickly translate to earnings volatility and weaker free cash flow over several months.

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

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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	6.30B	6.61B	6.47B	5.97B	5.63B	4.39B
Gross Profit	1.54B	1.69B	1.50B	840.89M	814.93M	1.01B
EBITDA	622.70M	702.57M	718.20M	452.35M	453.66M	574.96M
Net Income	361.61M	410.01M	398.28M	228.72M	238.57M	325.94M
Balance Sheet
Total Assets	3.90B	4.16B	3.89B	3.44B	3.10B	3.05B
Cash, Cash Equivalents and Short-Term Investments	323.18M	461.28M	392.63M	91.95M	33.12M	459.47M
Total Debt	304.94M	772.00M	850.00M	847.93M	721.21M	736.53M
Total Liabilities	1.21B	1.58B	1.69B	1.61B	1.48B	1.64B
Stockholders Equity	2.69B	2.59B	2.20B	1.83B	1.62B	1.41B
Cash Flow
Free Cash Flow	356.54M	256.37M	431.38M	-77.72M	-349.00M	277.57M
Operating Cash Flow	362.66M	291.39M	468.50M	-55.82M	-265.60M	386.57M
Investing Cash Flow	-4.64M	-27.29M	-13.93M	-23.92M	-35.31M	-58.70M
Financing Cash Flow	-523.54M	-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: Negative
• 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 154.29, above the 50-day MA of 168.30, and below the 200-day MA of 206.75, indicating a bearish trend. The MACD of -5.99 indicates Negative momentum. The RSI at 36.85 is Neutral, neither overbought nor oversold. The STOCH value of 13.99 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	₹9.99B	25.01	―	0.17%	17.98%	-0.62%
INDOAMIN	63 Neutral	₹6.69B	19.71	―	0.38%	13.01%	32.44%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
JAYAGROGN	60 Neutral	₹8.20B	22.24	―	1.23%	0.69%	-7.54%
AMNPLST	60 Neutral	₹8.25B	33.58	―	0.26%	-4.07%	-12.36%
MANALIPETC	54 Neutral	₹8.08B	3.95	―	0.82%	-2.41%	178.19%
OAL	46 Neutral	₹8.45B	-127.17	―	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.