Alkyl Amines Chemicals Ltd(ALKYLAMINE)

NSE: ALKYLAMINEBSE: 506767

₹ 1,634-4.17%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 8,358 crNext results: 3 Nov 2026Website: www.alkylamines.comUpdated: 24 Oct 2026

About

Alkyl Amines Chemicals Ltd is an Indian specialty chemicals manufacturer producing amines, amine derivatives, and specialty chemicals for pharmaceutical and agrochemical customers. The company operates three manufacturing plants across India and reported FY26 revenue of Rs. 1,535.85 crores. It is the only domestic producer of certain import-substitute specialty products and competes in methylamines, ethylamines, and acetonitrile markets.^[1][2][3]

Business segments

Revenue split in FY25: ~50% from amines, ~30% from amine derivatives, ~18 - 20% from specialty chemicals; the company reports a single Specialty Chemicals segment.^[3][2]
Pharma customers account for 50 - 60% of sales and agrochemical customers for 15 - 20% of sales in FY26.^[4]

Products

Core products are methylamines, ethylamines, and acetonitrile (solvent/reagent); derivatives include diethyl ketone (DEK) and other downstream chemicals.^[4][5]
Derivatives represent ~30% of amine output as of Q2 FY26; no single product exceeds 14 - 20% of total revenue.^[5]
A new non-amine specialty product targeting dyes, pigments, and electronics end-uses is under development at Kurkumbh; it will be the only domestic manufacturer of that product.^[5]

Manufacturing operations

Three manufacturing plants (Patalganga, Kurkumbh, Dahej) and three solar plants; operations span 22 states as of FY25.^[2]
Total production capacity ~2 lakh tons; saleable capacity ~1.5 lakh tons as of Q2 FY26.^[5]
New ethylamine plant at Kurkumbh (Rs. 400 crores investment) commissioned October 2023, with 30,000-ton capacity running at 60 - 70% utilisation as of Q2 FY26.^[2][5]
686 permanent employees as of March 31, 2025; total workers (permanent + contract) of 912.^[2]

Key operating numbers

Blended capacity utilisation 60 - 85% across plants in Q4 FY26; management sees no need to add capacity in existing product lines for the next 4 - 5 years.^[4]
FY26 volume was ~-1% YoY; FY25 volume growth was ~13% YoY.^[4][3]
Acetonitrile realisation improved from ~Rs. 140 - 150/kg average in FY26 to ~Rs. 200/kg by Q4 FY26, after anti-dumping duty on Chinese imports took effect end-June 2025.^[4]
Ammonia input price rose to over Rs. 100/kg in Q4 FY26 from ~Rs. 50/kg pre-war; finished goods prices were raised to pass through the cost increase.^[4]
Direct US export exposure was ~1% of topline as of Q2 FY26; USA sales were ~4.5% of total sales per FY25 annual report.^[5][2]

Customers and distribution

Pharmaceutical customers (APIs, GLP-1/peptide drug manufacturers) are the largest end-use segment; the company has received approvals from some GLP-1 drug manufacturers for its acetonitrile as of Q2 FY26.^[5]
Acetonitrile's total domestic market is ~30,000 tons; the peptide/GLP-1 segment is estimated at ~10% of that market.^[4]

Competitive position

Methylamine: four domestic players after Aarti Industries commissioned its plant; total industry capacity exceeds 1.5 lakh tons against a market of 80,000 - 90,000 tons, creating sustained overcapacity as of Q2 FY26.^[5]
Ethylamine: two-player domestic market (Alkyl Amines and Balaji); market share and prices are stable, with ammonia cost increases passed through as of Q4 FY26.^[4]
Acetonitrile: anti-dumping duty on Chinese imports came into effect end-June 2025; Alkyl Amines' market share and realisation began improving from Q4 FY26.^[5][4]

Expansion and capex

New non-amine specialty product at Kurkumbh: capex ~Rs. 120 crores, targeting dyes/pigments/electronics, mechanical completion expected end-June 2026, commercial production guided for beginning of Q2 FY27 (July 2026).^[5][4]
FY27 total capex guided at Rs. 80 - 90 crores, covering Kurkumbh project carry-forward and maintenance; no new major product investments currently planned.^[4]
Investment decisions on additional R&D pipeline products (Rs. 20 - 200 crore range) deferred until war-related market volatility subsides; no timeline given.^[4]

Recent developments

Anti-dumping duty on acetonitrile imports took effect end-June 2025 following DGTR recommendation and Ministry of Finance approval; Chinese suppliers raised prices in response, reducing import aggression.^[5][4]
War-triggered ammonia price shock in early 2026 approximately doubled input costs from ~Rs. 50/kg to over Rs. 100/kg; a 1 - 2 week availability crisis in March 2026 was managed through inventory.^[4]
FY26 revenue was Rs. 1,535 crores vs Rs. 1,572 crores in FY25, effectively flat; volume fell ~1% and realisation fell ~1% for a combined ~2% value decline.^[4]
R&D developed a continuous purification process to isolate a raw material from a waste stream; pilot study completed, implementation in production planned for FY2025-26.^[2]

Market Cap

₹8,358 Cr

High / Low

₹2,115 / 1,212

Stock P/E

12.2

Price / Book

4.6

Book Value

₹300

EPS

₹35.2

No. of Shares

5.11 Cr

ROCE

16.6%

ROE

12.3%

OPM

15.6%

Debt / Equity

0.00

Sales

₹1,536 Cr

Net Profit

₹180 Cr

Promoter holding

72.0%

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