Indo Amines Limited (INDOAMIN) AI Stock Analysis

• Market Cap: ₹9.90B
• Dividend Yield: 0.37%
• Average Volume (3M): 14.25K
• Price to Earnings (P/E): 15.2
• Beta (1Y): 1.83
• Revenue Growth: 14.11%
• EPS Growth: 29.69%
• Country: IN
• Employees: 557
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals
• EPS (TTM): 3.97
• Shares Outstanding: 72,587,560
• 10 Day Avg. Volume: 8,898
• 30 Day Avg. Volume: 14,246
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• 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: ₹163.00
• Price Target Upside: 19.50% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 71 Outperform
• Price Target: ₹163.00 ▲(19.50% Upside)

Indo Amines Limited's overall stock score is driven by strong financial performance, particularly in revenue growth and profitability. Technical analysis shows neutral momentum, and valuation is fair with a reasonable P/E ratio. Cash flow management is a concern, impacting the overall score.

Indo Amines Limited Business Overview & Revenue Model

Company Description

Indo Amines Limited manufactures, develops, and supplies fine chemicals, specialty chemicals, performance chemicals, perfumery chemicals, and active pharmaceuticals ingredients worldwide. The company's fine chemicals comprise aliphatic and aromatic amines, aliphatic and aromatic nitriles, halides, alcohols, cycloalkanols, cycloalkanones, acids and esters, advanced intermediates, amine hydrochlorides, ethanol amines, and other products. Its specialty chemicals include fatty acids, amides, amines, di-amines, tertiary amines, polyamines, amine ethoxylates, and ammonium quats. The company's performance chemicals comprise anti-caking, anti-foaming, anti-static, anti-stripping, anti-bacterial/antislime, and floatation agents, as well as granulating aids, defoamers, emulsifiers, curing aids, bitumen emulsifiers, corrosion inhibitors, demulsifiers, and anti-bacterial products. Its products are used in pharmaceuticals, agrochemicals, fertilizers, petrochemicals, perfumery chemicals, road construction, pesticides, dyes and intermediates, water treatment chemicals, oil field chemicals, mining, paints, pigments, polymers, metal working and lubricants, additives, textile processing chemicals, cosmetics, home and personal care applications, etc. Indo Amines Limited was incorporated in 1992 and is based in Thane, India.

How the Company Makes Money

Indo Amines Limited generates revenue through the production and sale of specialty chemicals and amines. The company's key revenue streams include sales to industries such as pharmaceuticals, agrochemicals, and water treatment, where their products are used as raw materials and intermediates. Indo Amines benefits from its extensive product portfolio and strong customer relationships, which help maintain a steady demand for its products. The company also engages in strategic partnerships with other chemical manufacturers and distributors to expand its market reach. Additionally, Indo Amines invests in research and development to innovate and improve its product offerings, thus enhancing its competitive edge and supporting its revenue growth.

Indo Amines Limited Financial Statement Overview

Summary

Indo Amines Limited shows strong revenue growth and profitability improvements, with efficient cost management. The balance sheet is stable, though equity utilization could improve. Cash flow management needs attention due to negative free cash flow.

Income Statement

Indo Amines Limited demonstrates robust revenue growth, with a significant increase from 2024 to 2025. The gross profit margin stands at 25.5%, indicating efficient cost management. The net profit margin improved to 5.2%, reflecting enhanced profitability. However, the EBIT margin of 7.8% suggests room for operational efficiency improvements.

Balance Sheet

The balance sheet shows a healthy equity ratio of 40.7%, reflecting a stable capital structure. The debt-to-equity ratio is 0.9, indicating moderate leverage, which is reasonable for the industry. However, the return on equity at 17.6% suggests room for better utilization of equity.

Cash Flow

The company experienced a decline in free cash flow, with negative free cash flow in 2025. The operating cash flow to net income ratio of 1.25 indicates good cash generation relative to net income. However, the free cash flow to net income ratio is negative, highlighting cash flow management issues.

Breakdown	TTM	Dec 2025	Dec 2023	Dec 2023	Dec 2021	Dec 2020
Income Statement
Total Revenue	10.46B	10.79B	9.41B	9.40B	7.79B	5.34B
Gross Profit	2.97B	2.75B	2.30B	2.20B	1.91B	1.52B
EBITDA	1.13B	1.16B	913.41M	936.55M	604.51M	693.91M
Net Income	535.33M	558.95M	408.75M	428.13M	230.47M	374.83M
Balance Sheet
Total Assets	0.00	7.79B	5.97B	6.33B	5.54B	4.53B
Cash, Cash Equivalents and Short-Term Investments	320.29M	167.79M	60.73M	55.89M	59.98M	44.88M
Total Debt	0.00	2.84B	2.32B	2.17B	2.07B	1.59B
Total Liabilities	-2.93B	4.61B	3.71B	3.70B	3.67B	2.91B
Stockholders Equity	2.93B	3.17B	2.25B	2.63B	1.87B	1.63B
Cash Flow
Free Cash Flow	0.00	-216.82M	-109.75M	391.02M	-242.71M	57.73M
Operating Cash Flow	0.00	697.01M	203.63M	696.71M	154.59M	561.79M
Investing Cash Flow	0.00	-904.58M	-298.27M	-265.64M	-388.40M	-496.60M
Financing Cash Flow	0.00	153.96M	40.26M	-408.70M	319.15M	-11.24M

Indo Amines Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 136.40
• 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:INDOAMIN, the sentiment is Negative. The current price of 136.4 is below the 20-day moving average (MA) of 142.72, below the 50-day MA of 147.00, and below the 200-day MA of 145.37, indicating a bearish trend. The MACD of -2.49 indicates Positive momentum. The RSI at 34.42 is Neutral, neither overbought nor oversold. The STOCH value of 13.30 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:INDOAMIN.

Indo Amines Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INDOAMIN	71 Outperform	₹9.90B	15.18	―	0.37%	14.11%	29.69%
BHAGERIA	68 Neutral	₹7.76B	16.98	7.24%	0.84%	25.56%	92.57%
SHREEPUSHK	67 Neutral	₹14.13B	21.16	10.88%	0.46%	16.35%	55.49%
BODALCHEM	52 Neutral	₹7.87B	26.93	1.67%	―	19.75%	845.31%
HERANBA	48 Neutral	₹11.90B	387.71	0.37%	0.34%	―	―
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%