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Indo Amines Limited
(INDOAMIN)
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Rating:61Neutral
Price Target:
₹134.00
▲(4.08% Upside)
Action:Reiterated
Date:09/20/26
The score is driven primarily by improving profitability and healthy ROE, but is held back by weak cash conversion and negative free cash flow in the last two years. Valuation is supportive with a relatively low P/E, while technical indicators are neutral-to-slightly cautious due to a negative MACD and only modest trend strength.
Positive Factors
Steady Revenue Growth
Steady revenue expansion indicates continued demand across the company’s industrial chemical markets and provides a foundation for future operating leverage. The FY2026 acceleration is particularly supportive because sustained top-line growth can help broaden customer reach and improve earnings capacity over the next several quarters.
Negative Factors
Persistent Negative Free Cash Flow
Two consecutive years of negative free cash flow show that reported earnings have not consistently translated into surplus cash after investment needs. This can constrain internally funded expansion and may increase reliance on financing or working-capital improvement, making cash generation a durable execution issue.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady Revenue Growth
Steady revenue expansion indicates continued demand across the company’s industrial chemical markets and provides a foundation for future operating leverage. The FY2026 acceleration is particularly supportive because sustained top-line growth can help broaden customer reach and improve earnings capacity over the next several quarters.
Read all positive factors
Indo Amines Limited (INDOAMIN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹9.21B
Dividend Yield0.39%
Average Volume (3M)6.56K
Price to Earnings (P/E)11.4
Beta (1Y)1.81
Revenue Growth13.23%
EPS Growth22.22%
CountryIN
Employees619
SectorGeneral
Sector StrengthN/A
IndustryChemicals
Share Statistics
EPS (TTM)10.80
Shares Outstanding72,587,560
10 Day Avg. Volume8,171
30 Day Avg. Volume6,559
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)1.58
Price to Sales (P/S)0.53
P/FCF Ratio-28.07
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Indo Amines Limited Business Overview & Revenue Model
Company Description
Indo Amines Limited operates as a global manufacturer and supplier, focusing on the development and production of a comprehensive range of chemicals, including fine, specialty, performance, and perfumery chemicals, alongside active pharmaceutical ...
How the Company Makes Money
Indo Amines Limited makes money mainly by manufacturing and selling amines and amine-based specialty/intermediate chemicals to other businesses. Revenue is generated through (1) sale of manufactured chemical products: the company produces amines a...
Indo Amines Limited Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
66
Positive
Cash Flow
42
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 11.60B | 10.79B | 9.40B | 9.41B | 7.79B |
| Gross Profit | 3.04B | 2.75B | 2.20B | 2.30B | 1.91B |
| EBITDA | 1.23B | 1.16B | 936.55M | 913.41M | 604.51M |
| Net Income | 793.26M | 558.95M | 428.13M | 408.75M | 230.47M |
Balance Sheet | |||||
| Total Assets | 8.97B | 7.79B | 6.33B | 5.97B | 5.54B |
| Cash, Cash Equivalents and Short-Term Investments | 237.05M | 167.79M | 55.89M | 60.73M | 61.66M |
| Total Debt | 3.11B | 2.84B | 2.17B | 2.32B | 2.07B |
| Total Liabilities | 5.04B | 4.61B | 3.70B | 3.71B | 3.67B |
| Stockholders Equity | 3.92B | 3.17B | 2.63B | 2.25B | 1.87B |
Cash Flow | |||||
| Free Cash Flow | -220.64M | -216.82M | 391.02M | -109.75M | -242.71M |
| Operating Cash Flow | 563.71M | 697.01M | 696.71M | 203.63M | 154.59M |
| Investing Cash Flow | -718.75M | -904.58M | -265.64M | -298.27M | -388.40M |
| Financing Cash Flow | 225.81M | 153.96M | -408.70M | 40.26M | 319.15M |
Indo Amines Limited Technical Analysis
Positive
128.75
Price Trends
125.78
Positive
127.03
Negative
119.62
Positive
Market Momentum
-0.17
Negative
53.79
Neutral
49.19
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDOAMIN, the sentiment is Positive. The current price of 128.75 is above the 20-day moving average (MA) of 123.67, above the 50-day MA of 125.78, and above the 200-day MA of 119.62, indicating a bullish trend. The MACD of -0.17 indicates Negative momentum. The RSI at 53.79 is Neutral, neither overbought nor oversold. The STOCH value of 49.19 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:INDOAMIN.
Indo Amines Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | ₹9.38B | 24.47 | ― | 0.30% | -12.40% | -3.04% | |
64 Neutral | ₹17.70B | 5.34 | ― | 0.98% | 12.01% | 23.71% | |
63 Neutral | ₹5.18B | 32.52 | ― | ― | -2.70% | -15.41% | |
61 Neutral | ₹9.21B | 11.40 | ― | 0.39% | 13.23% | 22.22% | |
59 Neutral | ₹7.00B | 17.51 | ― | 0.88% | 49.58% | 43.22% | |
57 Neutral | ₹11.82B | 22.12 | ― | 0.99% | 1.41% | 946.41% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:INDOAMIN
Indo Amines Limited
126.85
-16.57
-11.55%
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Indo Amines Limited Corporate Events
Indo Amines halts Mahad plant after fatal gas leak incident
Aug 17, 2026
Indo Amines Limited has reported a gas leakage incident at its Mahad manufacturing facility in Raigad, Maharashtra, on 15 August 2026, which resulted in the death of one company worker and a person from a neighbouring industrial unit, while others...
Indo Amines strengthens board with appointment of legal expert as Independent Director
Jul 11, 2026
Indo Amines Limited has appointed legal veteran Rahul Chitnis as an Additional Independent Director for a one-year term starting July 15, 2026, subject to shareholder approval. The board’s decision, based on the Nomination and Remuneration C...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.