AMNPLST
Amines & Plasticizers share price & financials
- Price
- ₹201
- Market cap
- ₹916 Cr
- Sector
- Chemicals
What Amines & Plasticizers Limited does
Amines & Plasticizers Limited (APL) manufactures speciality amines and chemical intermediates — ethanolamines, alkyl alkanolamines, morpholine and its derivatives (including NMMO), and gas-treating solvents such as MDEA — used in oil refining, petrochemicals, pharmaceuticals, agrochemicals and textiles. It also makes EO/PO-based speciality products (ethoxylates, polyols, copolymers), oilfield chemicals for upstream oil & gas operations, dissolved acetylene industrial gas, and engineering services including pressure-equipment manufacturing (heat exchangers, pressure vessels, boilers). Production runs out of two integrated manufacturing sites in Maharashtra, with products sold domestically and exported to over 85 countries.
Segments
- Gas Treating Chemicals and Speciality Solvents
- Alkanolamines and Alkyl Alkanolamines
- Morpholine & Derivatives
- EO/PO-Based Speciality Products
- Others (Oilfield Chemicals, Industrial Gas, Engineering Services)
- Manufacturing units
- 2 integrated facilities (Turbhe, Navi Mumbai; Khopoli, Raigad)
- Installed capacity – speciality amines (Turbhe)
- 32,760 MTPA
- Capacity utilisation (Turbhe, FY25)
- 85%
- Industrial gas capacity (Khopoli Unit 2)
- 2 lakh cubic metres/year of dissolved acetylene
- Engineering services capacity (Khopoli Unit 3)
- 100 tonnes/month
- Countries served (exports)
- 85+
Quarterly results
Q1 FY27: revenue up 7.3%, net profit up 27.5% 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 | 167 | 191 | 166 | 140 | 133 −20% | 142 −25% | 155 −6% | 151 +7% |
| EBITDA | 16 | 17 | 21 | 13 | 11 −34% | 13 −26% | 23 +12% | 15 +15% |
| Net profit | 10 | 10 | 13 | 7 | 6 −37% | 8 −22% | 15 +20% | 9 +27% |
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 −26.6% 1Y
1Y: ₹225.08 on 10 Sept 2025 → ₹165.26. High ₹230.57 (18 Sept 2025), low ₹128.83 (30 Mar 2026).
Financials, as filed
Revenue fell 1.5% a year over 3 years, FY23 to FY26. Operating margin widened to 10.5%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹597 Cr | ₹647 Cr | ₹661 Cr | ₹571 Cr |
| Operating profit | ₹43 Cr | ₹69 Cr | ₹69 Cr | ₹60 Cr |
| Operating margin | 7.1% | 10.7% | 10.4% | 10.5% |
| Interest | ₹11 Cr | ₹13 Cr | ₹10 Cr | ₹5 Cr |
| Depreciation | ₹5 Cr | ₹5 Cr | ₹6 Cr | ₹6 Cr |
| Net profit | ₹23 Cr | ₹40 Cr | ₹41 Cr | ₹37 Cr |
| Net margin | 3.9% | 6.2% | 6.2% | 6.4% |
| Cash from operations | ₹5 Cr | ₹47 Cr | ₹29 Cr | ₹66 Cr |
| Free cash flow | ₹2 Cr | ₹43 Cr | ₹26 Cr | ₹66 Cr |
| ROCE | 16.0% | 23.0% | 20.0% | 17.0% |
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 | ₹11 Cr | ₹11 Cr | ₹11 Cr | ₹11 Cr | ₹11 Cr | ₹11 Cr |
| Reserves | ₹130 Cr | ₹151 Cr | ₹172 Cr | ₹209 Cr | ₹258 Cr | ₹281 Cr |
| Borrowings | ₹74 Cr | ₹72 Cr | ₹85 Cr | ₹85 Cr | ₹30 Cr | ₹27 Cr |
| Other liabilities | ₹91 Cr | ₹76 Cr | ₹77 Cr | ₹84 Cr | ₹91 Cr | ₹103 Cr |
| Total liabilities | ₹305 Cr | ₹310 Cr | ₹344 Cr | ₹389 Cr | ₹390 Cr | ₹422 Cr |
| Fixed assets | ₹73 Cr | ₹84 Cr | ₹80 Cr | ₹80 Cr | ₹79 Cr | ₹76 Cr |
| Capital work in progress | ₹11 Cr | ₹3 Cr | ₹5 Cr | ₹3 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹2 Cr |
| Other assets | ₹221 Cr | ₹223 Cr | ₹258 Cr | ₹305 Cr | ₹311 Cr | ₹344 Cr |
| Total assets | ₹305 Cr | ₹310 Cr | ₹344 Cr | ₹389 Cr | ₹390 Cr | ₹422 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 shrank 5% to 9,460.
- Promoters
- 73.2%
- Public
- 26.8%
Since Jun 2025
- Public −0.01 pp
- Promoters 0.00 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 73.2%, Public 26.8%.Dec '23: Promoters 73.2%, Public 26.8%.Mar '24: Promoters 73.2%, Public 26.8%.Jun '24: Promoters 73.2%, Public 26.8%.Sep '24: Promoters 73.2%, Public 26.8%.Dec '24: Promoters 73.2%, Public 26.8%.Mar '25: Promoters 73.2%, Public 26.8%.Jun '25: Promoters 73.2%, Public 26.8%.Sep '25: Promoters 73.2%, Public 26.8%.Dec '25: Promoters 73.2%, Public 26.8%.Mar '26: Promoters 73.2%, Public 26.9%.Jun '26: Promoters 73.2%, Public 26.8%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Sanjiv Dhireshbhai Shah +0.06 pp 1.31% held
The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Amines & Plasticizers Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Hemant Kumar Ruia | 39.98% | unchanged |
| Multiwyn Investments And Holdings Pvt Ltd | 21.93% | unchanged |
| India Carbon Limited | 12.70% | unchanged |
| Chefair Investment Pvt Ltd | 9.23% | unchanged |
| Investor Education And Protection Fund Authority Ministry Of Corporate Affairs | 2.05% | −0.08 pp |
| Shalini Ruia | 2.02% | unchanged |
| Sanjiv Dhireshbhai Shah | 1.31% | +0.06 pp |
| Yashvardhan Ruia Huf | 0.00% | unchanged |
| Reyaansh Ruia (Minor) | 0.00% | unchanged |
| Ruvvir Ruia (Minor) | 0.00% | unchanged |
| Hemant Kumar Ruia Huf | 0.00% | unchanged |
| Ankita Ruia | 0.00% | 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
AttractiveTo justify its price of ₹165, this stock must grow earnings at 15% every year for 7 years. Our analysis caps realistic growth at ~18%. At that growth it is worth ₹193 — upside of 17%.
- Growth the price implies
- 15.3% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 17.5% a year
- net profit, FY23–FY26 · EPS 18.3%
- The gap
- -0.0 pp
- 17% downside if it only repeats history
Learn to analyse Amines & Plasticizers Limited
Guides on how to read this kind of business and the numbers that matter.