Indo Amines Ltd
INDOAMINIndo Amines Ltd is coiled. The quarters are improving, yet the P/E sits at the 12th percentile of its own 10-year range — the business is moving before the market.
The sharpest disagreement: annual EPS moved +43.6% against a −23.0% price move — the market has not yet caught up with the delivery.
The price is in a confirmed uptrend (5 weeks in) while the P/E sits at the 12th percentile of its own 10-year range. Underneath, the last four quarters read improving — profit +75.0% year on year, and 103% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Indo Amines Ltd trades at ₹124, in a confirmed uptrend and 5 weeks into that stage. That is −1.1% against its own 200-day average. It sits at 52% of a 52-week range of ₹88 to ₹156. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (2 weeks and counting).
Today the stock is in a confirmed uptrend — week 5 of stage 2, confirmed. At ₹124 it trades −1.1% versus its 200-day average and sits at 52% of its 52-week range (₹88–₹156).
Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved +522% while the NIFTY 500 moved +266% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (2 weeks and counting; last ahead the week of 2026-07-03) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 12th percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Indo Amines Ltd trades at 11.8× P/E, near the bottom of its own range — cheaper only 12% of the time. Its long-run median P/E is 18.9×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 11.8× is near the bottom of its own range — cheaper only 12% of the time, against a long-run median of 18.9× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +43.6% against a −23.0% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the +0.5%/yr price move, ~+15.7%/yr came from earnings growth and ~−15.2 pp from the multiple (compressing); over 10y, of the +17.5%/yr price move, ~+23.0%/yr came from earnings growth and ~−5.5 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.
A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Consistent Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Indo Amines Ltd reads as consistent on its fundamental arc. Consistent — revenue and profit growth have stayed positive through the window, with ROCE at 20.0% and holding. The read is built from 10 quarters across 3 curves, on partial evidence.
Why it matters: steady curves with healthy returns are the compounding setup — the risk is the price, not the business.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +7.5% | +7.1% | +16.5% | +16.4% |
| Profit | +41.1% | +24.4% | +15.8% | +24.3% |
| EPS | +43.6% | +24.1% | +15.5% | +23.0% |
| Share price | −23.0% | +3.1% | +0.5% | +17.5% |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
58.8/100 — rank 5 of 20 in Chemicals - Organic · 81% evidence confidence
Indo Amines Ltd scores 58.8 out of 100 against the 20 companies it is compared with in Chemicals - Organic, ranking 5. Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -12.9% and the one-year return is -23%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
The four contributions add to the total exactly: 24.4 + 13.4 + 14.1 + 6.9 = 58.8. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Indo Amines Ltd reported ₹318 Cr of revenue in the Mar 26 quarter, +11.6% year on year. That is the 9th straight quarter of year-on-year growth. Over 10 years it has compounded at 16.4% a year. The last full year, FY26, came in at ₹1,160 Cr. The last four reported quarters add to ₹1,160 Cr.
Indo Amines Ltd reported ₹318 Cr of revenue in the Mar 26 quarter, +11.6% year on year. That is the 9th straight quarter of year-on-year growth. Over 10 years it has compounded at 16.4% a year. The last full year, FY26, came in at ₹1,160 Cr. The last four reported quarters add to ₹1,160 Cr.
FY26 revenue came in at ₹1,160 Cr (+7.5% on the year), capping 10 years at 16.4% compound. The latest quarter (Mar 26) printed ₹318 Cr, +11.6% year on year — the 9th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +7.6% growth against the decade's 16.4% — the current year is running slower than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +7.6% over the last 4 quarters against +10.9%/yr over the last 8 — rolling over; TTM profit +42.9% vs +36.4%/yr — accelerating.
→ Revenue grew — did margins hold as it scaled? Next: 11.0% this quarter (+2.0 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Indo Amines Ltd's operating margin is 11.0% in the Mar 26 quarter, +2.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 7.0% to 13.0%. The current quarter sits inside that band.
Indo Amines Ltd's operating margin is 11.0% in the Mar 26 quarter, +2.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 7.0% to 13.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 11.0%, +2.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 7.0%–13.0%.
Why the margin moved: operating margin went +2.1 pp year on year while gross margin went +2.4 pp — the gain came mostly from the gross line: input costs and pricing.
→ Margins held — did that reach the bottom line? Next: profit +75.0% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Indo Amines Ltd earned ₹21.0 Cr of net profit in the Mar 26 quarter, +75.0% year on year. It is the 8th consecutive quarter of growth. Full-year FY26 profit was ₹79.0 Cr. The 10-year compound rate is 24.3%. That is 6.6% of the quarter's revenue. The same quarter a year earlier earned ₹12.0 Cr.
Indo Amines Ltd earned ₹21.0 Cr of net profit in the Mar 26 quarter, +75.0% year on year. It is the 8th consecutive quarter of growth. Full-year FY26 profit was ₹79.0 Cr. The 10-year compound rate is 24.3%. That is 6.6% of the quarter's revenue. The same quarter a year earlier earned ₹12.0 Cr.
Mar 26 profit was ₹21.0 Cr, +75.0% year on year — the 8th consecutive quarter of growth. On the full year, FY26 printed ₹79.0 Cr (+41.1%), and the 10-year compound rate is 24.3%.
Why profit moved: revenue contributed +11.6% and the margin +2.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +41.3% vs revenue +7.6%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
→ Profit rose — but did the cash follow? Next: 103% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 103% of Indo Amines Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹79.0 Cr of operating cash against ₹79.0 Cr of profit. After ₹77.0 Cr of capital spending, ₹2.0 Cr was left as free cash.
FY26: operating cash of ₹79.0 Cr against reported profit of ₹79.0 Cr, leaving free cash of ₹2.0 Cr after ₹77.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 103% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 103%: the cash cycle stretched 39 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.
Router verdict: the bigger cash user is investment — capital spending ran 3.6× depreciation over three years, so the next section's job is to check what that build-out is buying.
→ So follow the cash to where it goes. Next: ₹191 Cr of building over 3 years.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Indo Amines Ltd's cash conversion cycle runs 110 days in FY26, up from 71 days in FY21. Capital spending ran ₹191 Cr over the last 3 years. At FY26 sales of ₹1,160 Cr each day of that cycle holds about ₹3.2 Cr, so roughly ₹350 Cr sits inside the business at any moment.
FY26: debtors at 89 days, inventory at 85 days — roughly 2.8 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 110 days, looser than FY21's 71.
The full loop: cash goes out to suppliers and production on day 0; stock waits 85 days to sell; customers pay about 89 days after that; and suppliers themselves are paid at 64 days — netting out to the 110-day cycle.
In money terms: at FY26 sales of ₹1,160 Cr, each day of the cycle holds about ₹3.2 Cr — so the 110-day loop keeps roughly ₹350 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹191 Cr over the last 3 fiscal years against ₹53.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹31.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 20% and the ROIC − WACC spread is −0.6 pp.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified
Indo Amines Ltd earns a ROCE of 20% in FY26. That is up from a trough of 11% in FY20. Return on invested capital clears the cost of that capital by −0.6 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 6.8% net margin on 1.29× asset turns.
FY26 ROCE is 20%, recovered from a FY20 trough of 11% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 6.8% net margin × 1.29× asset turns × 2.29× balance-sheet leverage ≈ 20.1% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 11.4% − 12.0% = a −0.6 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.79.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified
Indo Amines Ltd carries total debt of ₹311 Cr against shareholder equity of ₹394 Cr as of Mar 26, a debt-to-equity of 0.79. On the annual view that ratio went from 1.10 in FY22 to 0.79 in FY26. Read the returns elsewhere on this page with that leverage in mind.
Mar 26: total debt of ₹311 Cr against shareholder equity of ₹394 Cr — a debt-to-equity of 0.79. On the annual view, debt-to-equity went from 1.10 (FY22) to 0.79 (FY26). Read the returns on this page with that leverage in mind.
→ Who owns this, and are they adding or leaving? Next: Promoters cut 8.3 points over 8 quarters.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Promoters cut 8.3 points of Indo Amines Ltd over 8 quarters, the biggest move on the register. That takes promoters to 58.4% of the company. Foreign institutions moved +0.1 points over the same window, to 0.1%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Promoters: −8.3 points over 8 quarters to 58.4%; Foreign institutions: +0.1 points over 8 quarters to 0.1%.
🚨 Why the register moved: promoters drove it (−8.3 points) — distribution into the market’s bid.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Indo Amines Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Indo Amines Ltd this page | 11.8× | ₹940 Cr | Consistent | |||
| BASF India Ltd | 38.4× | ₹15,887 Cr | No read | |||
| Fine Organic Industries Ltd | 35.9× | ₹14,804 Cr | Improving | |||
| Elantas Beck India Ltd | 50.3× | ₹7,346 Cr | Mixed | |||
| Balaji Amines Ltd | 42.2× | ₹7,046 Cr | Improving | |||
| Laxmi Organic Industries Ltd | 63.2× | ₹5,053 Cr | Mixed | |||
| Foseco India Ltd | 39.0× | ₹3,805 Cr | — | — | — | — |
| Citurgia Biochemicals Ltd | — | ₹1,884 Cr | No read | |||
| Nitta Gelatin India Ltd | 13.5× | ₹1,489 Cr | Mixed | |||
| Oriental Aromatics Ltd | 379.0× | ₹1,255 Cr | Mixed | |||
| Jyoti Resins and Adhesives Ltd | 14.3× | ₹997 Cr | Topping out | |||
| Sigachi Industries Ltd | 29.9× | ₹974 Cr | Turning around | |||
| Fairchem Organics Ltd | 157.0× | ₹967 Cr | Turning around | |||
| Sacheerome Ltd | 33.3× | ₹946 Cr | — | — | — | — |
| Gem Aromatics Ltd | 651.0× | ₹930 Cr | No read | |||
| Shri Ahimsa Naturals Ltd | 31.1× | ₹904 Cr | — | — | — | — |
| Valiant Organics Ltd | 25.4× | ₹737 Cr | No read | |||
| OCCL Ltd | 14.6× | ₹724 Cr | No read | |||
| Shree Ganesh Remedies Ltd | 35.1× | ₹636 Cr | Deteriorating | |||
| Valiant Organics Ltd | 33.0× | ₹600 Cr | No read | |||
| GFL Ltd | 11.0× | ₹494 Cr | No read |
Frequently asked questions
What is Indo Amines Ltd's share price today?
Indo Amines Ltd trades at ₹124, −23.0% over the past year. The company is valued at ₹940 Cr. The stock sits at 52% of its 52-week range of ₹88–₹156, −1.1% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 5 weeks in. — as of 24 July 2026.
What were Indo Amines Ltd's latest quarterly results?
Indo Amines Ltd reported revenue of ₹318 Cr and net profit of ₹21.0 Cr for the Mar 26 quarter. Revenue rose 11.6% and profit rose 75.0% year on year. Earnings per share were ₹2.83. The operating margin was 11.0%, 2.0 pp higher than a year earlier. — as of 24 July 2026.
What is Indo Amines Ltd's revenue?
Indo Amines Ltd reported revenue of ₹318 Cr in the Mar 26 quarter, +11.6% year on year. For the full FY26 fiscal year, revenue was ₹1,160 Cr (+7.5%). Over the last 10 years revenue compounded at 16.4% a year. — as of 24 July 2026.
What is Indo Amines Ltd's profit?
Indo Amines Ltd earned ₹21.0 Cr of net profit in the Mar 26 quarter, +75.0% year on year — the 8th straight quarter of growth. Full-year FY26 profit was ₹79.0 Cr. The operating margin ran 11.0% in the latest quarter. — as of 24 July 2026.
What is Indo Amines Ltd's market cap?
Indo Amines Ltd's market capitalisation is ₹940 Cr at a share price of ₹124. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is Indo Amines Ltd's P/E ratio?
Indo Amines Ltd trades at a P/E of 11.8×, at the 12th percentile of its own 10-year range, against a long-run median of 18.9×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does Indo Amines Ltd pay a dividend?
Yes — Indo Amines Ltd's dividend payout was 5% of profit in FY26, and it recorded a payout in each of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.
Is Indo Amines Ltd overvalued?
On its own history, Indo Amines Ltd looks cheap against its own history: its P/E of 11.8× has been cheaper only 12% of the time in 10 years (long-run median 18.9×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.
Is Indo Amines Ltd growing?
Yes — Indo Amines Ltd is growing: latest-quarter revenue +11.6% year on year, profit +75.0%, and the margin +2.0 pp at 11.0%. The 10-year compound rates are 16.4% (revenue) and 24.3% (profit). The earnings engine currently reads: improving — as of 24 July 2026.
How is Indo Amines Ltd performing?
Indo Amines Ltd is in a confirmed uptrend, 5 weeks in. Its latest quarter's revenue rose 11.6% and profit rose 75.0% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 2 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
What stage is Indo Amines Ltd in?
Consistent — revenue and profit growth have stayed positive through the window, with ROCE at 20.0% and holding. The read comes from the last 12 quarters of growth (revenue growth +11.6% latest, profit growth +75.0% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.
Is Indo Amines Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 5 of stage 2), trading −1.1% versus its 200-day average and at 52% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is Indo Amines Ltd beating the market?
Not lately — on a trailing-13-week view Indo Amines Ltd is currently behind the NIFTY 500 (2 weeks and counting; last ahead the week of 2026-07-03), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.3 years the stock moved +522% against the NIFTY 500's +266% — ahead of the index over the full window. — as of 24 July 2026.
Will Indo Amines Ltd's share price go up?
This page publishes no price forecast for Indo Amines Ltd. What it measures instead: the share price is ₹124, the price is in a confirmed uptrend 5 weeks in. Its P/E of 11.8× sits at the 12th percentile of its own 10-year range. — as of 24 July 2026.
Who owns Indo Amines Ltd?
Promoters hold 58.4% of Indo Amines Ltd, foreign institutions 0.1%, domestic institutions null% and the public 41.5% (latest quarter). The biggest move on the register over the last two years: Promoters cut 8.3 points over 8 quarters. — as of 24 July 2026.
Does Indo Amines Ltd have too much debt?
It is moderate — Indo Amines Ltd's debt-to-equity is 0.79, and operating profit covers the interest bill 5×. FY26 borrowings were ₹311 Cr against equity of ₹392 Cr. Read the returns on this page with that leverage in mind — as of 24 July 2026.
What is Indo Amines Ltd's capex?
Indo Amines Ltd spent ₹191 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹77.0 Cr, with ₹31.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Indo Amines Ltd's cash flow?
Indo Amines Ltd generated ₹79.0 Cr of operating cash flow in FY26 and ₹2.0 Cr of free cash flow after ₹77.0 Cr of capital spending. Reported profit that year was ₹79.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Indo Amines Ltd's profit real cash?
Yes — over the last 3 fiscal years, 103% of Indo Amines Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹79.0 Cr against reported profit of ₹79.0 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 24 July 2026.
Where is Indo Amines Ltd in its business cycle?
Indo Amines Ltd's FY26 operating margin was 11.0%, against a 13-year band of 7.0%–13.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 11.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the Indo Amines Ltd story?
The sharpest disagreement: annual EPS moved +43.6% against a −23.0% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is Indo Amines Ltd a stock worth studying right now?
This is not investment advice. The machine read: Indo Amines Ltd is coiled. The quarters are improving, yet the P/E sits at the 12th percentile of its own 10-year range — the business is moving before the market. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.