Amal Ltd.

•

amal.co.inBSE: -NSE: AMAL

Market Cap₹ 922 Cr.

Current Price

High / Low₹ 822 / 730

Stock P/E136.1

Book Value₹ 82

Price to Book5.13

Dividend Yield0.20 %

ROCE7.1 %

ROE4.6 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Chemicals

Hold

The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.

Confidence

55%

View full sector analysis →

PROS

Company is almost debt free
Company has delivered good sales growth of 22.8% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.01x)
Company has been maintaining a healthy dividend payout of 40.9%
Working capital cycle has improved - days down from 25 to -1
Company generates healthy free cash flow

CONS

Receivables are growing faster than sales - a possible quality concern
Recent results are weak - TTM profit is down 26.1% versus prior year
Company has a low return on equity of 4.9% over last 3 years
Company has a low return on capital employed of 7.5%
Company has delivered a poor profit growth of -12.5% over past five years
Stock is trading at 5.1x its book value

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ChemicalsChemicalsChemicals

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	SOLARINDS	21460.00	97.52	194191.66	0.05	666.37	88.98	3668.20	70.26	38.16	27.91
2.	PIDILITIND	1630.00	62.63	165914.39	1.32	8835.10	1202.86	45515.50	1112.74	32.38	26.28
3.	SRF	2550.15	34.97	75592.78	0.35	758.87	75.53	5033.26	34.63	14.21	24.57
4.	FLUOROCHEM	4553.45	81.33	50019.65	0.07	219.00	19.02	1588.00	23.97	9.58	26.83
5.	NAVINFLUOR	8563.50	55.64	43937.70	0.18	243.31	107.67	1045.08	44.07	21.39	34.17
6.	GODREJIND	1162.45	33.31	39157.25	0.00	523.36	-27.85	5448.09	22.16	10.64	12.82
7.	DEEPAKNTR	1712.30	29.82	23354.58	0.44	345.01	207.36	2577.60	36.39	11.58	20.96
8.	AETHER	1626.45	91.79	21587.52	0.00	62.75	33.45	326.56	27.49	11.65	31.47
9.	ATUL	6383.20	23.63	18793.26	0.47	253.93	91.85	1847.95	25.03	15.05	21.41
10.	AARTIIND	491.90	33.60	17842.53	0.20	155.00	260.47	2387.00	42.42	6.95	16.00
11.	DEEPAKFERT	1361.95	17.53	17250.85	0.73	490.04	100.95	3256.26	22.47	12.12	25.96
12.	AMAL	745.60	31.03	921.76	0.20	16.73	77.88	96.54	104.06	26.06	17.70

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	4	7	10	10	7	11	16	15	14	19	22	30	27
	6	6	8	7	7	9	10	11	14	17	20	27	24
Operating Profit	-1	1	2	2	-1	3	6	3	1	2	2	3	3
OPM %	-35.08%	12.99%	18.17%	24.01%	-9.02%	24.93%	35.09%	21.06%	4.41%	10.55%	10.95%	10.46%	11.74%
	1	1	1	0	0	0	0	0	0	0	0	0	0
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before Tax	-1	1	2	2	-1	2	5	3	0	2	2	3	3
Tax %	29.17%	25.51%	32.97%	28.99%	29.13%	28.16%	26.77%	26.10%	26.92%	29.68%	27.27%	28.85%	25.51%
Net Profit	-1	1	1	1	-1	2	4	2	0	1	1	2	2
	-0.82	0.59	1.01	1.19	-0.59	1.43	3.10	1.62	0.15	0.88	1.17	1.46	1.96

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	26	32	33	33	30	43	39	31	49	85	97
	14	19	21	19	19	39	39	28	38	77	87
Operating Profit	12	12	12	14	11	4	-0	4	11	8	11
OPM %	46.11%	38.65%	37.51%	42.66%	37.17%	9.56%	-0.50%	11.61%	22.37%	9.59%	10.94%
	0	0	1	2	1	2	4	2	1	1	1
Interest	3	2	2	2	1	1	1	1	1	1	0
Depreciation	0	0	1	1	1	2	2	2	2	2	2
Profit before Tax	9	10	10	13	11	3	1	3	9	6	9
Tax %	0.00%	0.00%	22.34%	27.58%	18.57%	26.95%	46.61%	29.71%	26.63%	28.35%	27.48%
Net Profit	9	10	8	9	9	2	1	2	7	5	7
EPS	0.00	0.00	0.00	9.75	9.38	2.46	0.16	1.96	5.56	3.67	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	17.98%	40.86%	—

COMPOUNDED SALES GROWTH

10 Years:: 14%
5 Years:: 23%
3 Years:: 29%

COMPOUNDED PROFIT GROWTH

10 Years:: 13%
5 Years:: -12%
3 Years:: 84%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: 54%
5 Years:: 5%
3 Years:: 5%
Last Year:: 5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	7	9	9	9	9	9	12	12	12	12
	-11	-1	7	16	25	27	75	77	84	87
	12	13	10	3	2	0	0	0	0	0
Trade Payables	2	2	2	2	3	3	2	2	4	6
	7	1	5	7	8	8	9	9	11	14
Total Liabilities	16	24	33	38	47	48	98	100	112	119
	6	6	9	9	9	14	13	14	13	16
Capital Work in Progress	0	1	0	0	3	0	0	0	0	3
	2	4	10	15	24	5	55	78	86	80
	1	1	1	1	1	3	2	2	3	5
	0	0	0	0	0	0	0	3	4	9
Cash & Bank	2	3	0	1	0	0	3	0	2	1
	5	9	13	12	9	25	25	3	4	5
Total Assets	16	24	33	38	47	48	98	100	112	119

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	7	8	9	19	14	7	-2	3	10	0
Cash from Investing	-2	-3	-8	-5	-10	-8	-43	-6	-9	-0
Cash from Financing	-3	-4	-4	-9	-2	-2	47	-0	-0	-1
	2	1	-3	0	-0	-0	2	-2	1	-1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	12.65	10.30	8.22	9.75	9.38	2.58	0.59	1.96	5.56	3.67
Book Value (₹)	-5.00	9.12	17.33	27.09	36.46	39.02	70.30	72.26	77.83	80.50
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.00	1.50
Cash EPS (₹)	11.96	9.71	7.98	9.67	9.44	3.97	1.88	3.29	6.86	5.14
PROFITABILITY
Operating Margin %	41.62%	38.86%	39.25%	47.99%	41.26%	13.64%	9.62%	11.59%	22.35%	9.58%
Net Margin %	30.99%	30.03%	23.58%	28.19%	29.07%	5.54%	1.83%	7.73%	14.05%	5.34%
ROE %	0.00%	382.31%	62.18%	43.91%	29.54%	6.83%	1.18%	2.75%	7.41%	4.64%
ROCE %	119.96%	67.87%	49.26%	50.85%	34.31%	11.24%	3.58%	4.57%	10.73%	7.11%
	70.28%	47.47%	26.94%	25.76%	20.75%	5.13%	1.00%	2.45%	6.50%	3.93%
EFFICIENCY
Debtor Days	30	72	111	104	72	26	19	35	29	29
Inventory Days	15	12	12	11	14	16	19	20	17	17
Payable Days	106	58	63	87	106	42	37	48	46	30
	-61	26	59	28	-20	0	1	8	0	16
FINANCIAL HEALTH
Debt to Equity (x)	-4.26x	1.56x	0.72x	0.18x	0.09x	0.05x	0.00x	0.00x	0.00x	0.00x
Interest Coverage (x)	4.32x	4.92x	5.19x	7.04x	15.81x	4.50x	2.55x	6.98x	17.13x	11.08x
	1.61x	2.97x	2.26x	5.67x	3.52x	0.57x	1.57x	0.81x	1.23x	0.98x
GROWTH
Revenue Growth %	10.96%	23.05%	3.88%	-0.82%	-6.69%	42.93%	-9.93%	-19.98%	56.00%	73.71%
Operating Profit Growth %	193.29%	5.25%	2.71%	21.27%	-19.78%	-52.41%	-35.79%	47.92%	103.60%	-23.98%
Net Profit Growth %	559.24%	9.20%	-20.13%	18.59%	-3.77%	-72.55%	-69.97%	232.78%	183.36%	-33.99%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	232.76%	183.36%	-33.99%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	179.69x	120.32x	112.54x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	4.88x	8.60x	5.13x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.15%	0.36%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	76.77x	71.45x	58.09x

Shareholding Pattern

Numbers in percentages

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	71.35	71.35	71.35	71.35	71.35	71.35	71.35	71.35
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.03
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	28.64	28.64	28.64	28.64	28.64	28.64	28.64	28.62

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

No announcements filed.

News

Recent coverage and analyst commentary for AMAL

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Name

SOLARINDS

21460.00

97.52

194191.66

0.05

666.37

88.98

3668.20

70.26

38.16

27.91

PIDILITIND

1630.00

62.63

165914.39

1.32

8835.10

1202.86

45515.50

1112.74

32.38

26.28

SRF

2550.15

34.97

75592.78

0.35

758.87

75.53

5033.26

34.63

14.21

24.57

FLUOROCHEM

4553.45

81.33

50019.65

0.07

219.00

19.02

1588.00

23.97

9.58

26.83

NAVINFLUOR

8563.50

55.64

43937.70

0.18

243.31

107.67

1045.08

44.07

21.39

34.17

GODREJIND

1162.45

33.31

39157.25

0.00

523.36

-27.85

5448.09

22.16

10.64

12.82

DEEPAKNTR

1712.30

29.82

23354.58

0.44

345.01

207.36

2577.60

36.39

11.58

20.96

AETHER

1626.45

91.79

21587.52

0.00

62.75

33.45

326.56

27.49

11.65

31.47

ATUL

6383.20

23.63

18793.26

0.47

253.93

91.85

1847.95

25.03

15.05

21.41

AARTIIND

491.90

33.60

17842.53

0.20

155.00

260.47

2387.00

42.42

6.95

16.00

DEEPAKFERT

1361.95

17.53

17250.85

0.73

490.04

100.95

3256.26

22.47

12.12

25.96

AMAL

745.60

31.03

921.76

0.20

16.73

77.88

96.54

104.06

26.06

17.70

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

Operating Profit

-1

OPM %

-35.08%

12.99%

18.17%

24.01%

-9.02%

24.93%

35.09%

21.06%

4.41%

10.55%

10.95%

10.46%

11.74%

Interest

Depreciation

Profit before Tax

-1

Tax %

29.17%

25.51%

32.97%

28.99%

29.13%

28.16%

26.77%

26.10%

26.92%

29.68%

27.27%

28.85%

25.51%

Net Profit

-1

-0.82

0.59

1.01

1.19

-0.59

1.43

3.10

1.62

0.15

0.88

1.17

1.46

1.96

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

Operating Profit

-0

OPM %

46.11%

38.65%

37.51%

42.66%

37.17%

9.56%

-0.50%

11.61%

22.37%

9.59%

10.94%

Interest

Depreciation

Profit before Tax

Tax %

0.00%

22.34%

27.58%

18.57%

26.95%

46.61%

29.71%

26.63%

28.35%

27.48%

Net Profit

EPS

0.00

9.75

9.38

2.46

0.16

1.96

5.56

3.67

—

Dividend Payout %

0.00%

17.98%

40.86%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

-11

-1

Trade Payables

Total Liabilities

100

112

119

Capital Work in Progress

Cash & Bank

Total Assets

100

112

119

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-2

Cash from Investing

-2

-3

-8

-5

-10

-8

-43

-6

-9

-0

Cash from Financing

-3

-4

-9

-2

-0

-1

-3

-0

-2

-1

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

PER SHARE

EPS (₹)

12.65

10.30

8.22

9.75

9.38

2.58

0.59

1.96

5.56

3.67

Book Value (₹)

-5.00

9.12

17.33

27.09

36.46

39.02

70.30

72.26

77.83

80.50

Dividend per Share (₹)

0.00

1.00

1.50

Cash EPS (₹)

11.96

9.71

7.98

9.67

9.44

3.97

1.88

3.29

6.86

5.14

PROFITABILITY

Operating Margin %

41.62%

38.86%

39.25%

47.99%

41.26%

13.64%

9.62%

11.59%

22.35%

9.58%

Net Margin %

30.99%

30.03%

23.58%

28.19%

29.07%

5.54%

1.83%

7.73%

14.05%

5.34%

ROE %

0.00%

382.31%

62.18%

43.91%

29.54%

6.83%

1.18%

2.75%

7.41%

4.64%

ROCE %

119.96%

67.87%

49.26%

50.85%

34.31%

11.24%

3.58%

4.57%

10.73%

7.11%

70.28%

47.47%

26.94%

25.76%

20.75%

5.13%

1.00%

2.45%

6.50%

3.93%

EFFICIENCY

Debtor Days

111

104

Inventory Days

Payable Days

106

-61

-20

FINANCIAL HEALTH

Debt to Equity (x)

-4.26x

1.56x

0.72x

0.18x

0.09x

0.05x

0.00x

Interest Coverage (x)

4.32x

4.92x

5.19x

7.04x

15.81x

4.50x

2.55x

6.98x

17.13x

11.08x

1.61x

2.97x

2.26x

5.67x

3.52x

0.57x

1.57x

0.81x

1.23x

0.98x

GROWTH

Revenue Growth %

10.96%

23.05%

3.88%

-0.82%

-6.69%

42.93%

-9.93%

-19.98%

56.00%

73.71%

Operating Profit Growth %

193.29%

5.25%

2.71%

21.27%

-19.78%

-52.41%

-35.79%

47.92%

103.60%

-23.98%

Net Profit Growth %

559.24%

9.20%

-20.13%

18.59%

-3.77%

-72.55%

-69.97%

232.78%

183.36%

-33.99%

0.00%

232.76%

183.36%

-33.99%

VALUATION

P/E (x)

0.00x

179.69x

120.32x

112.54x

P/B (x)

0.00x

4.88x

8.60x

5.13x

Dividend Yield %

0.00%

0.15%

0.36%

0.00x

76.77x

71.45x

58.09x

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

71.35

FIIs

0.00

0.02

0.03

Government

0.00

28.64

28.62

Amal Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

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Amal Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI