Amines & Plasticizers Ltd(AMNPLST)

NSE: AMNPLSTBSE: 506248

₹ 139.9-4.80%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 770 crWebsite: www.amines.comUpdated: 24 Oct 2026

About

Amines & Plasticizers Ltd makes alkanolamines, alkyl alkanolamines, gas treating chemicals and speciality solvents. Its multi-product plant runs continuously and serves both domestic and export customers. It reported revenue of 571.03 Cr in FY26 and has an installed capacity of 32,760 MTPA. Management puts its share of the domestic ethanolamines market at 75-80%.^[1][2][3]

Product mix

Alkanolamines and alkyl alkanolamines made up 43.21% of revenue in Q1 FY27, up from 33.09% in FY26.^[2]
Gas treating chemicals and speciality solvents made up 35.60% of revenue in Q1 FY27, down from 44.19% in FY26.^[2]
The company reports a single business segment, chemicals.^[4][5]
The company can take in and process several orders a day, and it offers customised products.^[3]

Operations and capacity

Installed capacity is 32,760 MTPA.^[2]
The Turbhe plant ran at 85% capacity utilisation in FY26, the same as in FY25.^[2][5]
The multi-product plant runs continuously and has been upgraded with the latest plant technology.^[3]
Fuel and gas were scarce and expensive in Q1 FY27, so the plants ran at only partial capacity. Management says operations had stabilised by Q2 FY27.^[2]
A planned maintenance shutdown partly stopped the Turbhe plant in Q1 FY26.^[6]

Raw materials

Ethylene oxide is a key raw material. It must be bought within India, which carries price and supply risk (FY25 annual report).^[5]
Q1 FY27 profit included inventory gains, because geopolitical events pushed up both raw-material and finished-goods prices.^[2]

Market position and customers

Management estimates its share of the domestic ethanolamines market at 75-80%.^[2]
In FY25, revenue from outside India was 350.7 Cr and revenue from within India was 305.14 Cr.^[5]
In FY25, competition from lower-priced Chinese suppliers put pressure on NMMO realisations.^[5]
Management said in Q1 FY27 that it holds a firm order book and is pursuing new export opportunities, several of which are progressing well.^[2]

New products and partnerships

In Q1 FY27 the company signed agreements with two global MNCs that approve it to supply their formulated solvents to their customers worldwide.^[2]
In Q1 FY27 the company made progress towards supplying an amine reclamation unit to a large Indian refinery.^[2]
The company has signed MoUs with American and Japanese companies to develop niche products. These have long development timelines (FY25).^[5]
R&D spend was ₹2.11 cr in FY26 and focuses on new speciality products.^[2][3]

Capex

The FY25 annual report planned additional reactors and balancing equipment to raise plant capacity.^[5]
Capex in FY25 included a CPCB-compliant DG set, a rotary compressor and a PNG thermo pack.^[5]

Recent developments

For FY26 the board recommended a dividend of ₹0.50 per share of face value ₹2.^[3]
The FY26 annual report seeks approval to accept unsecured deposits from members of up to 35% of paid-up capital, free reserves and securities premium, for working capital.^[3]
The CMD's pay was revised to ₹10 lakh a month plus a commission of up to 2% of net profits from FY28. ED Yashvardhan Ruia can receive a commission of up to 1%.^[3]

Market Cap

₹770 Cr

High / Low

₹250 / 132

Stock P/E

20.0

Price / Book

2.6

Book Value

₹53

EPS

₹6.6

No. of Shares

5.5 Cr

ROCE

16.7%

ROE

13.3%

OPM

9.6%

Debt / Equity

0.09

Sales

₹571 Cr

Net Profit

₹37 Cr

Promoter holding

73.2%

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Signal history

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Amines & Plasticizers Ltd(AMNPLST)

About

Product mix

Operations and capacity

Raw materials

Market position and customers

New products and partnerships

Capex

Recent developments

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