AMAL
Amal financials
- Market cap
- ₹913 Cr
- Sector
- Chemicals
Quarterly results
Q1 FY27: revenue up 106.4%, net profit up 88.9% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 30 | 46 | 39 | 47 | 54 +80% | 63 +37% | 76 +95% | 97 +106% |
| EBITDA | 9 | 20 | 10 | 12 | 9 +0% | 8 −60% | 7 −30% | 17 +42% |
| Net profit | 6 | 17 | 7 | 9 | 6 +0% | 5 −71% | 2 −71% | 17 +89% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −17.8% 1Y
1Y: ₹898.45 on 10 Sept 2025 → ₹738.7. High ₹982.2 (13 Oct 2025), low ₹413.15 (30 Mar 2026).
Financials, as filed
Revenue grew 67.1% a year over 2 years, FY24 to FY26. Operating margin narrowed to 15.0%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹86 Cr | ₹136 Cr | ₹240 Cr |
| Operating profit | ₹15 Cr | ₹42 Cr | ₹36 Cr |
| Operating margin | 17.4% | 30.9% | 15.0% |
| Interest | ₹4 Cr | ₹2 Cr | ₹0 Cr |
| Depreciation | ₹8 Cr | ₹8 Cr | ₹8 Cr |
| Net profit | ₹1 Cr | ₹30 Cr | ₹22 Cr |
| Net margin | 1.2% | 22.1% | 9.2% |
| Cash from operations | ₹21 Cr | ₹50 Cr | ₹22 Cr |
| Free cash flow | ₹13 Cr | ₹46 Cr | ₹15 Cr |
| ROCE | 7.0% | 36.0% | 26.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹9 Cr | ₹9 Cr | ₹12 Cr | ₹12 Cr | ₹12 Cr | ₹12 Cr |
| Reserves | ₹25 Cr | ₹26 Cr | ₹56 Cr | ₹58 Cr | ₹101 Cr | ₹108 Cr |
| Borrowings | ₹6 Cr | ₹51 Cr | ₹35 Cr | ₹24 Cr | ₹0 Cr | ₹0 Cr |
| Other liabilities | ₹8 Cr | ₹14 Cr | ₹15 Cr | ₹13 Cr | ₹25 Cr | ₹34 Cr |
| Total liabilities | ₹48 Cr | ₹100 Cr | ₹118 Cr | ₹106 Cr | ₹139 Cr | ₹154 Cr |
| Fixed assets | ₹9 Cr | ₹14 Cr | ₹90 Cr | ₹86 Cr | ₹78 Cr | ₹77 Cr |
| Capital work in progress | ₹7 Cr | ₹66 Cr | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹3 Cr |
| Investments | ₹20 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹31 Cr | ₹37 Cr |
| Other assets | ₹12 Cr | ₹19 Cr | ₹27 Cr | ₹19 Cr | ₹28 Cr | ₹38 Cr |
| Total assets | ₹48 Cr | ₹100 Cr | ₹118 Cr | ₹106 Cr | ₹139 Cr | ₹154 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
The ownership split has held steady since Jun 2025. The shareholder count grew 18% to 17,632.
- Promoters
- 71.3%
- DIIs
- 0.0%
- Public
- 28.6%
Since Jun 2025
- Public −0.02 pp
- Promoters +0.01 pp
- DIIs +0.01 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 71.3%, DIIs 0.0%, Public 28.6%.Dec '23: Promoters 71.3%, DIIs 0.0%, Public 28.7%.Mar '24: Promoters 71.3%, DIIs 0.0%, Public 28.6%.Jun '24: Promoters 71.3%, DIIs 0.0%, Public 28.7%.Sep '24: Promoters 71.3%, DIIs 0.0%, Public 28.6%.Dec '24: Promoters 71.3%, DIIs 0.0%, Public 28.6%.Mar '25: Promoters 71.3%, DIIs 0.0%, Public 28.6%.Jun '25: Promoters 71.3%, DIIs 0.0%, Public 28.6%.Sep '25: Promoters 71.3%, DIIs 0.0%, Public 28.6%.Dec '25: Promoters 71.3%, DIIs 0.0%, Public 28.6%.Mar '26: Promoters 71.3%, DIIs 0.0%, Public 28.6%.Jun '26: Promoters 71.3%, DIIs 0.0%, Public 28.6%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Amal Ltd above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Atul Finserv Limited | 48.48% | unchanged |
| Aagam Holdings Private Limited | 16.01% | unchanged |
| Aayojan Resources Private Ltd | 4.17% | unchanged |
| Atul Limited | 1.38% | unchanged |
| Adhinami Investments Private Limited | 0.39% | unchanged |
| Aagam Agencies Pvt Ltd | 0.29% | unchanged |
| Sunil Siddharth Lalbhai (On behalf of Vimla Siddharth Family Trust) | 0.22% | unchanged |
| Akshita Holdings Private Limited | 0.13% | unchanged |
| Vimlaben S Lalbhai | 0.09% | unchanged |
| Anusandhan Investments Limited | 0.07% | unchanged |
| Swati Siddharth Lalbhai (On behalf of Siddharth Family Trust) | 0.05% | unchanged |
| Sunil Siddharth Lalbhai | 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.
What the price assumes
- Growth the price implies
- 22.5% 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
Learn to analyse Amal Ltd
Guides on how to read this kind of business and the numbers that matter.