Indo Amines Limited (INDOAMIN) AI Stock Analysis

• Market Cap: ₹8.86B
• Dividend Yield: 0.38%
• Average Volume (3M): 5.94K
• Price to Earnings (P/E): 12.8
• Beta (1Y): 1.84
• Revenue Growth: 13.01%
• EPS Growth: 32.44%
• Country: IN
• Employees: 557
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals
• EPS (TTM): 2.50
• Shares Outstanding: 72,587,560
• 10 Day Avg. Volume: 3,394
• 30 Day Avg. Volume: 5,944
• PEG Ratio: 0.54
• Price to Book (P/B): 2.80
• Price to Sales (P/S): 0.82
• P/FCF Ratio: -41.01
• 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: 63 Neutral
• Price Target: ₹138.00 ▲(7.18% Upside)

Indo Amines Limited's overall score is primarily driven by strong financial performance, despite cash flow management issues. Technical analysis indicates bearish momentum, which negatively impacts the score. Valuation is fair but not compelling enough to offset the technical weaknesses.

Positive Factors

Revenue Growth

The company demonstrates robust revenue growth, indicating a strong market position and effective product demand across multiple sectors.

Product Portfolio

A diverse product portfolio and strong customer relationships help maintain steady demand and support long-term revenue stability.

Profitability Improvements

Improved profitability margins indicate efficient cost management and operational effectiveness, contributing to sustainable financial health.

Negative Factors

Cash Flow Management

Negative free cash flow can strain financial resources, limiting the company's ability to invest in growth and manage debt effectively.

Equity Utilization

Suboptimal equity utilization indicates potential inefficiencies in generating returns, which could impact long-term shareholder value.

Operational Efficiency

Lower EBIT margins highlight the need for operational improvements to enhance profitability and competitive positioning in the market.

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 its specialty chemical products, which include various grades of amines and their derivatives. The company has established a robust revenue model that includes direct sales to manufacturers across multiple sectors, enabling it to tap into diverse markets. Key revenue streams include bulk sales of amines for industrial applications, customized chemical formulations for specific client needs, and long-term contracts with major corporations in pharmaceuticals and agrochemicals. INDOAMIN also benefits from strategic partnerships with distributors and suppliers that enhance its market reach and distribution capabilities, contributing significantly to its earnings. Additionally, the company's focus on innovation and product development allows it to introduce new products, thereby expanding its market presence and driving further 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 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	11.01B	10.79B	9.40B	9.41B	7.79B	5.34B
Gross Profit	3.39B	2.75B	2.20B	2.30B	1.91B	1.52B
EBITDA	1.28B	1.16B	936.55M	913.41M	604.51M	679.67M
Net Income	657.99M	558.95M	428.13M	408.75M	230.47M	374.83M
Balance Sheet
Total Assets	0.00	7.79B	6.33B	5.97B	5.54B	4.53B
Cash, Cash Equivalents and Short-Term Investments	167.79M	167.79M	55.89M	60.73M	61.66M	44.88M
Total Debt	0.00	2.84B	2.17B	2.32B	2.07B	1.59B
Total Liabilities	-3.18B	4.61B	3.70B	3.71B	3.67B	2.91B
Stockholders Equity	3.18B	3.17B	2.63B	2.25B	1.87B	1.63B
Cash Flow
Free Cash Flow	0.00	-216.82M	391.02M	-109.75M	-242.71M	57.73M
Operating Cash Flow	0.00	697.01M	696.71M	203.63M	154.59M	561.79M
Investing Cash Flow	0.00	-904.58M	-265.64M	-298.27M	-388.40M	-496.60M
Financing Cash Flow	0.00	153.96M	-408.70M	40.26M	319.15M	-11.24M

Indo Amines Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 128.75
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

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 128.75 is above the 20-day moving average (MA) of 126.64, above the 50-day MA of 126.06, and below the 200-day MA of 138.37, indicating a bearish trend. The MACD of 0.24 indicates Positive momentum. The RSI at 42.31 is Neutral, neither overbought nor oversold. The STOCH value of 35.33 is Neutral, 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
SHREEPUSHK	68 Neutral	₹10.69B	15.08	―	0.52%	28.67%	50.12%
INDOAMIN	63 Neutral	₹8.86B	12.81	―	0.38%	13.01%	32.44%
BHAGERIA	63 Neutral	₹7.35B	14.33	―	0.81%	33.39%	85.08%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
BODALCHEM	52 Neutral	₹6.52B	17.79	―	―	15.56%	2114.71%
UNIENTER	49 Neutral	₹10.19B	52.10	―	0.34%	―	―
HERANBA	44 Neutral	₹9.03B	-18.91	―	0.39%	―	―