Amal share price & results
- Sept 2026
- Sept 2026
Ankleshwar (Gujarat) manufacturer of bulk chemicals — sulphuric acid, oleum and their downstream sulphur dioxide/sulphur trioxide derivatives.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 131 | +143.0% YoY | Quarterly, as filed | Quarter to Sept 2026 | Revenue from operations as filed. |
| Operating margin | 6.5 | −9.5 pts YoY | Operating profit / revenue | Quarter to Sept 2026 | For the quarter; a change is in percentage points. |
| Net profit | 6.2 | +1.7% YoY | Quarterly, as filed | Quarter to Sept 2026 | Profit after tax as filed. |
| Return on equity | 21.14 | −14.6 pts | Trailing twelve months | TTM to Sept 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 6.32 | −28.1 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 96.76 | +20.8 pts | Trailing twelve months | TTM to Sept 2026 | Revenue change against the same period one year earlier. |
Price
Performance −24.1% 1Y
1Y: ₹744.2 on 24 Oct 2025 → ₹565.1. High ₹940.55 (13 Oct 2026), low ₹413.15 (30 Mar 2026).
- Previous close
- ₹568.25
- Market cap
- ₹710 Cr
- 52-week range
- ₹413.15 – ₹940.55
- One year
- −23.10%
- Price to earnings (TTM to Sept 2026)
- 23.82×
- Return on equity (TTM to Sept 2026)
- 21.14%
Overview
- Symbol
- NSE:AMAL
- Sector
- Chemicals
- Industry
- Commodities
- Exchange
- NSE
- Currency
- INR
What Amal Ltd does
Based on the company's own presentations, annual report and earnings calls.
Amal Ltd manufactures and markets bulk chemicals — sulphuric acid and oleum — along with downstream products sulphur dioxide and sulphur trioxide, from its plant in Ankleshwar, Gujarat. The Company operates exclusively in the bulk chemicals segment, supplying customers comprising users and channel partners across multiple industries. It has a wholly-owned subsidiary, Amal Speciality Chemicals Ltd, incorporated on October 12, 2020.
Segments
- Bulk chemicals
- Manufacturing facilities
- 2 (Ankleshwar, Gujarat)
- Products manufactured
- 6
- Team strength
- 89
- Customers served
- 72
- Suppliers
- 415
- Industries served
- 8
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +2% (quarter to sept 2026 against sept 2025).
| Line item | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 46 | 39 | 47 | 54 | 63 | 76 | 97 | 131 |
| Expenses | 25 | 28 | 36 | 45 | 55 | 68 | 79 | 123 |
| Operating profit | 20 | 10 | 12 | 9 | 8 | 7 | 17 | 8 |
| Operating margin | 44.5% | 26.9% | 24.6% | 15.9% | 12.9% | 9.7% | 17.7% | 6.5% |
| Other income | 0 | 0 | 0 | 0 | 1 | 1 | 6 | 2 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | 18 | 8 | 10 | 7 | 6 | 6 | 21 | 8 |
| Tax rate | 7.9% | 18.1% | 2.0% | 8.6% | 17.9% | 65.9% | 19.9% | 24.7% |
| Net profit | 17 | 7 | 9 | 6 | 5 | 2 | 17 | 6 |
| EPS (₹ per share) | 13.38 | 5.48 | 7.60 | 4.90 | 4.06 | 1.54 | 13.53 | 4.98 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 61 | 86 | 135 | 240 |
| Expenses | 67 | 71 | 92 | 204 |
| Operating profit | -6 | 15 | 43 | 36 |
| Other income | 1 | 0 | 1 | 2 |
| Interest | 4 | 4 | 2 | 1 |
| Depreciation | 7 | 9 | 9 | 9 |
| Profit before tax | -16 | 3 | 33 | 28 |
| Net profit | -16 | 1 | 29 | 22 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 | Sept 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 12 | 12 | 12 | 12 | 12 | 12 |
| Reserves | 56 | 58 | 87 | 101 | 108 | 129 |
| Borrowings | 35 | 24 | 0 | 0 | 0 | 0 |
| Other liabilities | 15 | 13 | 22 | 25 | 34 | 53 |
| Total liabilities | 118 | 106 | 122 | 139 | 154 | 195 |
| Fixed assets | 90 | 86 | 80 | 78 | 77 | 82 |
| Capital work in progress | 1 | 1 | 0 | 1 | 3 | 1 |
| Investments | 0 | 1 | 20 | 31 | 37 | 37 |
| Other assets | 27 | 19 | 21 | 28 | 38 | 75 |
| Total assets | 118 | 106 | 122 | 139 | 154 | 195 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 10 | -1 | -10 | 21 | 50 | 22 |
| Cash from investing | -11 | -43 | -16 | -9 | -22 | -22 |
| Cash from financing | 0 | 44 | 29 | -14 | -25 | -1 |
| Net cash flow | 0 | 0 | 3 | -2 | 3 | -1 |
| Free cash flow | 3 | -64 | -26 | 13 | 46 | 15 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 58 | 11 | 25 | 23 | 27 | 30 |
| Inventory days | 53 | 34 | 26 | 28 | 33 | 25 |
| Days payable | 120 | 42 | 31 | 36 | 68 | 38 |
| Cash conversion cycle | -10 | 4 | 21 | 15 | -9 | 17 |
| Working capital days | -12 | -51 | -41 | -6 | -11 | 7 |
| Return on capital employed | 33.0% | 4.0% | −12.0% | 7.0% | 36.0% | 26.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 4.0% | 8.0% |
What the price assumes
- Growth the price implies
- 8.1% a year
- for 7 years, fading to 4%
- It has actually compounded at
- Not enough history
- The gap
- —
- between what it did and what it must do
Ownership
Who owns it
Promoters hold 71.35% as of Sept 2026; institutions added 0.00 pts since Jun 2026.
- Promoters 71.35%
- Domestic institutions 0.03%
- Government 0.00%
- Public 28.61%
Who is on the register
Named in the Sep 2026 filing
Every holder of Amal Ltd above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 48.48% | unchanged | |
| 16.01% | unchanged | |
| 4.17% | unchanged | |
| 1.38% | unchanged | |
| 0.39% | unchanged | |
| 0.29% | unchanged | |
| 0.22% | unchanged | |
| 0.13% | unchanged | |
| 0.09% | unchanged | |
| 0.07% | unchanged | |
| 0.05% | unchanged | |
| 0.04% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
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