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Amal Ltd (AMAL) · mywealthgrid

Amal Ltd

BSE:AMAL

MaterialsChemicals & Petrochemicals

₹702.4

+2.62%1 Oct close

Mkt cap

₹871 Cr

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About

Amal Ltd is a small-cap specialty chemicals company (₹924 Cr market cap) with quarterly standalone revenues of ₹7–9 Cr. Positioned in Materials, the company has historically shown strong operating margins but faces current margin compression.

Face value: ₹10

Market cap

₹871 Cr

P/E

784.7×

P/B

7.2×

Dividend yield

0.4%

ROE

20.4%

ROCE

25.3%

Debt / equity

—

OPM

14.9%

EPS (TTM)

₹0.9

Book value

₹97.4

52-week high

—

52-week low

—

Key insights

Company research notes and source-linked reviews

Key risks

Operating margin collapsed to 14.88% from 30–50% range in Mar 2019–Mar 2021 quarters; verify cause and reversibility. - Quarterly revenue highly volatile (₹4.92–₹9.66 Cr range in last 8 quarters); understand drivers and demand stability. - PE ratio of 832.31 is extreme; reconcile whether recent earnings are unusually depressed or market expectations are misaligned. - Zero FII (0%) and minimal DII (0.03%) participation; assess whether this reflects liquidity constraints or credibility concerns.

Generated analysis · source review pending

Growth drivers

Historical OPM of 30–50% across eight prior quarters demonstrates operational capability; recovery to even 25% would drive significant earnings leverage off current 14.88% base. - ROE of 20.39% indicates capital is deployed efficiently; verify whether this is sustainable given recent margin compression. - Recent dividends (2026-07-31, 2025-08-14) signal cash generation; growth may accelerate if revenue stabilises. - No debt disclosed (D/E n/a) provides balance-sheet flexibility to invest through cycles; verify whether this reflects conservative or constrained capex.

Generated analysis · source review pending

2,177 historical price candles were omitted because the exchange source has not been verified.

₹702.4+3%1Y

Quick read

rule-based

Pros

+Strong return on equity of 19.2% (3-yr avg)
+High return on capital employed of 23%
+Profit CAGR of 20.5% over the last 5 years
+Revenue CAGR of 51.1% over the last 5 years
+Comfortable interest coverage of 44×
+High promoter holding of 71.4% with no pledge

Cons

−Expensive at 784.7× trailing earnings

Research score

Structured signal from quality, growth, valuation and momentum.

60/100

Business quality: 66
Growth: 100
Valuation: 15

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Gujarat Fluorochemicals LimitedFLUOROCHEMFLUOROCHEM	₹47,713 Cr	₹49,912 Cr	₹5,303 Cr	₹1,375 Cr	25.8%	₹615 Cr	11.5%	11.1%	7.6%	401
Navin Fluorine International LimitedNAVINFLUORNAVINFLUOR	₹41,740 Cr	₹42,967 Cr	₹3,634 Cr	₹1,232 Cr	32.6%	₹790 Cr	20%	21.6%	20.1%	61
Aether Industries LimitedAETHERAETHER	₹22,161 Cr	₹22,603 Cr	₹1,224 Cr	₹384 Cr	31.3%	₹235 Cr	19.8%	13.2%	9.4%	330
Atul LimitedATULATUL	₹17,231 Cr	₹17,411 Cr	₹6,643 Cr	₹1,189 Cr	16.4%	₹704 Cr	11%	14.1%	11.5%	70
Aarti Industries LimitedAARTIINDAARTIIND	₹16,869 Cr	₹21,790 Cr	₹9,012 Cr	₹1,337 Cr	14.1%	₹531 Cr	5.1%	8.8%	7.3%	54
Fine Organic Industries LimitedFINEORGFINEORG	₹15,752 Cr	₹15,797 Cr	₹2,472 Cr	₹535 Cr	20.4%	₹438 Cr	17.6%	21.6%	16.8%	113
Basf India LimitedBASFBASF	₹14,796 Cr	₹14,796 Cr	₹16,177 Cr	₹952 Cr	4.4%	₹643 Cr	2.8%	14%	11.1%	40
Privi Speciality Chemicals LimitedPRIVISCLPRIVISCL	₹13,970 Cr	₹14,980 Cr	₹2,671 Cr	₹666 Cr	25.2%	₹342 Cr	12.4%	27.7%	25.2%	158
Sudeep Pharma LimitedSUDEEPPHRMSUDEEPPHRM	₹13,546 Cr	₹13,694 Cr	₹676 Cr	₹233 Cr	34.6%	₹133 Cr	27.1%	31.1%	25.2%	366
Anupam Rasayan India LimitedANURASANURAS	₹13,243 Cr	₹15,058 Cr	₹2,535 Cr	₹563 Cr	22.2%	₹175 Cr	9.4%	9.1%	5.5%	377
Vinati Organics LimitedVINATIORGAVINATIORGA	₹12,528 Cr	₹12,528 Cr	₹2,381 Cr	₹665 Cr	29.4%	₹448 Cr	19.9%	18.8%	14.9%	152
Elantas Beck India LimitedELANTASELANTAS	₹10,644 Cr	₹10,644 Cr	₹778 Cr	₹147 Cr	20.3%	₹136 Cr	17.4%	20.6%	15.8%	70

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	30	43	61	86	135	240
COGS	10	27	47	45	64	174
Gross profit	21	16	14	41	72	66
	10	12	19	25	28	30
Operating profit (EBITDA)	11	4	-6	15	43	36
OPM %	37%	9.1%	-9.1%	17.8%	32%	14.9%
Depreciation	1	2	7	9	9	9
Interest	1	1	4	4	2	1
	1	0	1	0	1	2
Profit before tax	11	2	-16	3	33	28
Tax	2	1	0	1	3	6
Tax %	18.6%	31.5%	2.7%	38.5%	10.2%	19.9%
	9	1	-16	2	29	22
PAT margin %	28.9%	2.6%	-26.3%	2%	21.6%	9.3%
EPS (₹)	9.3	1.2	—	—	—	—
EPS adjusted (₹)	9.3	1.2	-13	1.4	23.7	18.1
Annual report	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	9	9	9	12	12	12	12
Reserves	—	25	26	56	58	87	108
Minority interest	—	—	—	—	—	—	0
	—	4	42	35	24	—	—
	—	10	23	15	13	22	34
Total equity & liabilities	—	48	100	118	106	122	154
	10	9	14	90	86	80	77
CWIP	—	7	67	1	1	1	3
Investments	—	20	0	0	1	20	37
	—	12	19	27	19	21	38
Total assets	—	48	100	118	106	122	154

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	15	10	-1	-10	21	50	22
	-5	-11	-43	-16	-9	-22	-22
	-9	0	44	29	-14	-25	-1
Net cash flow	0	0	-0	3	-2	3	-1
Free cash flow	—	3	-64	—	—	—	—
CFO / Operating profit %	—	93%	-37.7%	—	137.8%	114.8%	60.8%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	68.6%	37.4%	22.7%	47.4%	52.9%	27.5%
EBITDA margin %	37%	9.1%	-9.1%	17.8%	32%	14.9%
EBIT margin %	33.9%	5.2%	-20%	7.4%	25.2%	11%
PAT margin %	28.9%	2.6%	-26.3%	2%	21.6%	9.3%
Working capital
Receivable days	58	11	25	23	27	30
Inventory days	53	34	26	28	33	25
Payable days	120	42	—	—	—	—
NWC days	-10	4	—	—	—	—
Leverage
Current ratio	3.11	0.73	0.84	0.99	1.89	2.48
Debt to EBITDA	0.37	10.62	—	1.54	—	—
Debt to equity	0.12	1.19	0.51	0.34	—	—
Interest coverage	15.8	2.7	-2.7	1.7	17.1	44
Asset turnover	0.63	0.43	0.52	0.81	1.11	1.55
Return ratios
Return on assets %	18.2%	1.1%	-13.6%	1.6%	24.1%	14.5%
Return on capital employed %	29.2%	4.4%	-13.4%	7.1%	36.5%	25.3%
Return on equity %	25.7%	3.1%	-23.5%	2.4%	29.5%	18.6%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	71.33%	71.33%	71.33%	71.33%	71.35%	71.35%	71.35%	71.35%	71.35%	71.35%	71.35%	71.35%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.03%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	28.65%	28.65%	28.65%	28.65%	28.63%	28.63%	28.63%	28.63%	28.63%	28.63%	28.63%	28.62%
No. of shareholders	—	—	—	—	—	—	—	—	18,828	18,572	18,123	17,632

Promoter holding up 0.02 percentage points since Sep 2023.

Mr. Sunil LalbhaiNon-Executive - Non Independent Director-Chairperson related to Promoter
Mr. Gopi Kannan ThirukondaNon-Executive - Non Independent Director
Mr. Rajeev KumarExecutive Director-MD
Mr. Jyotin MehtaNon-Executive - Independent Director
Ms. Dipali ShethNon-Executive - Independent Director
Ms. Drushti DesaiNon-Executive - Independent Director
Mr. Venkatraman SrinivasanNon-Executive - Independent Director
Yogesh VyasChief Financial Officer
Mr. Mahabaleshwar PalekarNon-Executive - Independent Director
Ankit T MankodiCompany Secretary And Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Amal Ltd. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results16 Oct 2026 · in 15 daysresults

2

Final dividend31 Jul 2026 · ex-date₹1.5
Dividend dividend14 Aug 2025 · ex-date₹1

2

Board meeting to consider results16 Oct 2026
Board meeting to consider results17 Jul 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

9 announcementsExport CSV

5 Jul 2026, 10:17 amCompany Update

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 PDF

Date	Category	Subject	Filing
5 Jul 2026, 10:17 am	Company Update Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	PDF

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Amal Ltd

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

1

2

2

Announcements

1

2

2

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Compounded sales growth

Compounded profit growth

Return on equity

Amal Ltd

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Ratios

Ratio timeline

Shareholding

Quarterly record

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

Upcoming and recent1

Dividends2

Board meetings2

Announcements

Upcoming and recent1

Dividends2

Board meetings2

Ratio timeline

Quarterly record

Board and management

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

2

2

1

2

2