Sector Alpha Week of 2026-07-31
Sector Alpha — machine-written from the numbers · Data as of 2026-07-31

Amal Ltd

AMAL
Speciality Chemicals

Amal Ltd is cheap for a reason. The P/E sits at the 10th percentile of its own range, and the quarters are still getting worse.

The sharpest disagreement: annual EPS moved +1,616.7% against a −21.6% price move — the market has not yet caught up with the delivery.

The price is in a downtrend (12 weeks in) while the P/E sits at the 10th percentile of its own 5-year range. Underneath, the last four quarters read deteriorating — profit −69.6% year on year, and 219% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.

Price
₹508
−21.6% 1Y
P/E
23.0×
10th pctile
of its own 5-year range
Revenue (Dec 25)
₹62.6 Cr
+36.7% YoY
Profit (Dec 25)
₹5.0 Cr
−69.6% YoY
Operating margin
12.9%
−31.6 pp YoY
ROCE
36%
FY25
Cash conversion
219%
of profit, last 3 FY
Unverified figures: Some figures on this page come from a second financial-data feed that could not be cross-checked against the primary source — the two do not share enough overlapping reported history to compare. They are drawn, because they are the only evidence there is, and every section carrying one is marked unverified.
01 · Price story

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.

Amal Ltd trades at ₹508, in a downtrend and 12 weeks into that stage. That is −22.6% against its own 200-day average. It sits at 8% of a 52-week range of ₹458 to ₹1,045. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (21 weeks and counting).

Today the stock is in a downtrend — week 12 of stage 4, confirmed. At ₹508 it trades −22.6% versus its 200-day average and sits at 8% of its 52-week range (₹458–₹1,045).

Mar 26: ₹508 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
−22.6% versus the 200-day line, week 12 of stage 4
Price50-day avg200-day avg
S4S2S4S2S4₹1,114₹864₹613₹363₹112₹508₹656Mar 23Dec 23Aug 24May 25Mar 26
S4S2S4S2S4₹1,114₹864₹613₹363₹112₹508₹656Mar 23Aug 24Mar 26
Beating or trailing, week by week since 2016 Each cell is one week from 2016 to now (522 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Mar 16Mar 26

Against the market, two honest reads. Cumulative: over the last 10.0 years the stock moved +1,934% while the NIFTY 500 moved +260% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (21 weeks and counting; last ahead the week of 2025-10-10) — 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.

02 · Valuation

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.

Amal Ltd trades at 23.0× P/E, near the bottom of its own range — cheaper only 10% of the time. Its long-run median P/E is 65.1×, measured across 5.1 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 23.0× is near the bottom of its own range — cheaper only 10% of the time, against a long-run median of 65.1× measured over 5.1 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 23.0× vs a 65.1× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 5.1-year window; loss-period spikes above 195× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
near the bottom of its own range — cheaper only 10% of the time
P/EMedianEPS (TTM) (quarterly)
209.3×₹33.9158.5×₹25.4107.7×₹16.956.9×₹8.56.1×₹0.0×23.00×₹22Jan 21Dec 21May 24Apr 25Mar 26
209.3×₹33.9158.5×₹25.4107.7×₹16.956.9×₹8.56.1×₹0.0×23.00×₹22Jan 21May 24Mar 26
P/E
23.0×
10th percentile of 5y

Why the multiple sits where it does: over the past year annual EPS moved +1,616.7% against a −21.6% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the +17.6%/yr price move, ~+24.4%/yr came from earnings growth and ~−6.8 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.

03 · Stage: No read

Stage: No read 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).

Amal Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 9 quarters across 2 curves, on partial evidence.

Growth, year by year: revenue +57.0% in FY25, profit +1,350.0% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn. Turnaround-year spikes shown pinned (▲).
Revenue YoYProfit YoYEPS YoY
62%348%43%174%24%0.0%4.8%−174%−14%−348%%%57%300%FY20FY22FY25
62%348%43%174%24%0.0%4.8%−174%−14%−348%%%57%300%FY20FY22FY25
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Where the trailing-twelve-month history is short, the curve falls back to single-quarter year-on-year growth — noisier, and the classifier smooths and caps base-effect spikes before reading. Base-effect spikes shown pinned (▲). A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue accelerating
RevenueProfitEPS
139%330%108%222%76%115%45%8.0%13%−99%%%36.7%−69.6%19.1%Mar 23Jun 24Dec 25
139%330%108%222%76%115%45%8.0%13%−99%%%36.7%−69.6%19.1%Mar 23Jun 24Dec 25
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
40%26%12%−1.9%−16%%36%FY22FY23FY25
40%26%12%−1.9%−16%%36%FY22FY23FY25
Revenue growth
Rolling over
latest +36.7% · span +22.0% to +83.7%
ROCE
Rising
latest 36.0% · span −12.0%–36.0%

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

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.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+57.0%+46.4%+32.5%
Profit+1,350.0%+207.2%+26.4%
EPS+1,616.7%+197.5%+26.2%
Share price−21.6%+30.8%+17.6%+35.2%
Revenue YoY (Dec 25)
+36.7%
latest quarter vs a year ago
Profit YoY (Dec 25)
−69.6%
latest quarter vs a year ago
Revenue 10y
32.5%
long-run compound pace
04 · 4-Factor Sector Score

4-Factor Sector Score

50.0/100 — rank 27 of 27 in Speciality Chemicals · 50% evidence confidence · provisional, ranked below fully-evidenced peers

Amal Ltd scores 50.0 out of 100 against the 27 companies it is compared with in Speciality Chemicals, ranking 27. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

The four contributions add to the total exactly: 19.8 + 15.1 + 10.9 + 4.2 = 50. 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.

05 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Amal Ltd reported ₹62.6 Cr of revenue in the Dec 25 quarter, +36.7% year on year. That is the 9th straight quarter of year-on-year growth. Over 5 years it has compounded at 32.5% a year. The last full year, FY25, came in at ₹135 Cr. The last four reported quarters add to ₹203 Cr.

FY25 revenue came in at ₹135 Cr (+57.0% on the year), capping 5 years at 32.5% compound. The latest quarter (Dec 25) printed ₹62.6 Cr, +36.7% year on year — the 9th consecutive quarter of year-over-year growth.

FY25 revenue ₹135 Cr (+57.0% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 6-year window. A bar is red when it is lower than the year before.
32.5% a year over 5 years
RevenueYoY growth
14662%10943%7324%364.8%0−14%₹ Cr%₹13557%FY20FY22FY25
14662%10943%7324%364.8%0−14%₹ Cr%₹13557%FY20FY22FY25
Dec 25: ₹62.6 Cr (+36.7% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
9th straight quarter of growth
Revenue (quarterly)YoY growth
68139%51108%3476%1745%013%₹ Cr%₹6336.7%Mar 23Jun 24Dec 25
68139%51108%3476%1745%013%₹ Cr%₹6336.7%Mar 23Jun 24Dec 25

Pace check: the last four quarters averaged +82.7% growth against the decade's 32.5% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +72.5% over the last 4 quarters against +57.1%/yr over the last 8 — accelerating.

06 · Operating margin

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.

Amal Ltd's operating margin is 12.9% in the Dec 25 quarter, −31.6 percentage points against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged −9.0% to 43.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 12.9%, −31.6 pp against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged −9.0%–43.0%.

🚨 Why the margin moved: operating margin went −31.6 pp year on year while gross margin went −33.3 pp — the loss came mostly from the gross line: input costs and pricing.

FY25: 32.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 6-year window.
within a −9.0–43.0% band over 6 years
operating marginYoY change (pp)
47%31%32%15%17%0.0%1.9%−16%−13%−32%%%32%14%FY20FY22FY25
47%31%32%15%17%0.0%1.9%−16%−13%−32%%%32%14%FY20FY22FY25
Dec 25: 12.9% operating margin (−31.6 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
48%32%35%15%21%−2.4%7.7%−19%−5.9%−36%%%12.9%−31.6%Mar 23Jun 24Dec 25
48%32%35%15%21%−2.4%7.7%−19%−5.9%−36%%%12.9%−31.6%Mar 23Jun 24Dec 25
07 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Amal Ltd earned ₹5.0 Cr of net profit in the Dec 25 quarter, −69.6% year on year. Full-year FY25 profit was ₹29.0 Cr. The 5-year compound rate is 26.4%. That is 8.0% of the quarter's revenue. The same quarter a year earlier earned ₹16.5 Cr. 2 of the last 12 reported quarters were loss-making.

Dec 25 profit was ₹5.0 Cr, −69.6% year on year. On the full year, FY25 printed ₹29.0 Cr (+1,350.0%), and the 5-year compound rate is 26.4%.

FY25 profit ₹29.0 Cr (+1,350.0% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 6-year window. A bar is red when it is lower than the year before.
26.4% a year over 5 years
Net profitYoY growth
331,594%20710%7−175%−7−1,060%−20−1,944%₹ Cr%₹291,350%FY20FY22FY25
331,594%20710%7−175%−7−1,060%−20−1,944%₹ Cr%₹291,350%FY20FY22FY25
Dec 25: ₹5.0 Cr (−69.6% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
182,154%121,557%6960%0363%−6−234%₹ Cr%₹5−69.6%Mar 23Jun 24Dec 25
182,154%121,557%6960%0363%−6−234%₹ Cr%₹5−69.6%Mar 23Jun 24Dec 25

🚨 Why profit moved: revenue contributed +36.7% and the margin −31.6 pp — the quarter was revenue-led despite a thinner margin.

Pace comparison, last four quarters: profit +915.3% vs revenue +82.7%. 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.

08 · Cash flow — the router

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 219% of Amal Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY25 that was ₹50.0 Cr of operating cash against ₹29.0 Cr of profit. After ₹2.0 Cr of capital spending, ₹48.0 Cr was left as free cash.

FY25: operating cash of ₹50.0 Cr against reported profit of ₹29.0 Cr, leaving free cash of ₹48.0 Cr after ₹2.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 219% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY25: CFO ₹50.0 Cr vs profit ₹29.0 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 6-year window, annual resolution. FY22 reflects an acquisition year — point shown clipped.
219% of 3-year profit arrived as cash
Operating cashNet profitFree cash
563411−12−34₹ Cr₹50₹29₹48FY20FY22FY25
563411−12−34₹ Cr₹50₹29₹48FY20FY22FY25
FY25: CFO = 172% of profit (three-year rate 219%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash; outlier years shown pinned.
Conversion100%
332%216%100%−16%−132%%172%FY20FY22FY25
332%216%100%−16%−132%%172%FY20FY22FY25

Why conversion sits at 219%: the cash cycle tightened 30 days between FY20 and FY25 — cash that used to wait in the cycle now reaches the bank sooner.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

09 · Where the cash goes

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).

Amal Ltd's cash conversion cycle runs −9 days in FY25, down from 21 days in FY20. Capital spending ran ₹25.0 Cr over the last 3 years. At FY25 sales of ₹135 Cr each day of that cycle holds about ₹0.4 Cr, so roughly ₹−3.0 Cr sits inside the business at any moment.

FY25: debtors at 27 days, inventory at 33 days — roughly 1.1 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of −9 days, tighter than FY20's 21.

The full loop: cash goes out to suppliers and production on day 0; stock waits 33 days to sell; customers pay about 27 days after that; and suppliers themselves are paid at 68 days — netting out to the −9-day cycle.

In money terms: at FY25 sales of ₹135 Cr, each day of the cycle holds about ₹0.4 Cr — so the −9-day loop keeps roughly ₹−3.0 Cr sitting inside the business at any moment.

FY25: a −9-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 6-year window.
−30 days vs FY20
Cash cycleInventory daysDebtor daysPayable days
130935517−20days−9d33d27d68dFY20FY21FY22FY23FY25
130935517−20days−9d33d27d68dFY20FY22FY25

On the investment side: capital spending of ₹25.0 Cr over the last 3 fiscal years against ₹25.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹0.0 Cr (FY25) — capacity paid for but not yet earning.

FY25: capex ₹2.0 Cr, work-in-progress ₹0.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
steady investment
CapexWork-in-progress
715336180₹ Cr₹2₹0FY21FY22FY23FY24FY25
715336180₹ Cr₹2₹0FY21FY23FY25

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

10 · Return on capital

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.

Amal Ltd earns a ROCE of 36% in FY25. That is up from a trough of −12% in FY23. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 21.5% net margin on 1.11× asset turns.

FY25 ROCE is 36%, recovered from a FY23 trough of −12% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY25): 21.5% net margin × 1.11× asset turns × 1.23× balance-sheet leverage ≈ 29.4% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.

FY25: ROCE 36% Return on capital employed by fiscal year, % (line). 5-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY23's −12%
ROCEWACC
40%26%12%−1.9%−16%%36%FY21FY22FY23FY24FY25
40%26%12%−1.9%−16%%36%FY21FY23FY25
11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Amal Ltd carries ₹0.0 Cr of borrowings against ₹99.0 Cr of equity in FY25, a debt-to-equity of 0.00. Operating profit covers the interest bill 22×. Over 5 years borrowings went from ₹4.0 Cr to ₹0.0 Cr. Capital spending ran ₹25.0 Cr across the last 3 of those years.

FY25: borrowings of ₹0.0 Cr against equity of ₹99.0 Cr — a debt-to-equity of 0.00. Operating profit covers the interest bill 22×. Over 5 years borrowings went from ₹4.0 Cr to ₹0.0 Cr while capital spending ran ₹25.0 Cr in just the last 3 — the build-out is being paid for out of cash, not debt.

FY25: borrowings ₹0.0 Cr at 0.00× equity Borrowings by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 6-year window. Quarterly balance-sheet history is not held for India — annual is the honest resolution.
debt is falling while the business grows
BorrowingsDebt-to-equity
551.6×411.2×280.7×140.3×0−0.1×₹ Cr×₹00.00×FY20FY21FY22FY23FY25
551.6×411.2×280.7×140.3×0−0.1×₹ Cr×₹00.00×FY20FY22FY25
12 · Ownership

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.

No holder of Amal Ltd moved a full percentage point over the last two years — the register is quiet. Domestic institutions moved +0.0 points over the same window, to 0.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: +0.0 points over 8 quarters to 71.3%; Domestic institutions: +0.0 points over 8 quarters to 0.0%.

Fiscal-year ends: promoters +0.0 pts from Mar 23 to Mar 25 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersDomestic inst.Public
77%56%36%15%−5.7%%71.3%0.0%28.6%Mar 23Mar 24Mar 25
77%56%36%15%−5.7%%71.3%0.0%28.6%Mar 23Mar 24Mar 25
A quiet register: no holder moved a full point in two years Shareholding by holder class, % of the company, quarterly, last 12 quarters.
PromotersDomestic inst.Public
77%56%36%15%−5.7%%71.3%0.0%28.6%Mar 23Jun 24Dec 25
77%56%36%15%−5.7%%71.3%0.0%28.6%Mar 23Jun 24Dec 25
13 · 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.

Amal 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.

14 · Related companies · Speciality Chemicals
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Sunshield Chemicals Ltd530845 70.0/100Favorable setup72% evidence TURNING 28.4/35 Revenue 20.5% · PAT 100% · OPM change 5 pp 83% evidence 16.3/25 ROCE 19.9% · OPM 15% 76% evidence 11.2/20 P/E 35.1× · PEG — 50% evidence 14.1/20 RS sector 2.3% · RS bench 22.4% · 1Y 59.8%11 of 11 weeks ahead 70% evidence
Exact sum: 28.4 + 16.3 + 11.2 + 14.1 = 70 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2Privi Speciality Chemicals LtdPRIVISCL 64.2/100Mixed-positive evidence75% evidence LEADER 24.9/35 Revenue 21.6% · PAT 62.1% · OPM change -1 pp 95% evidence 17.8/25 ROCE 22.3% · OPM 23% 76% evidence 9.3/20 P/E 40.4× · PEG — 15% evidence 12.2/20 RS sector 2.6% · RS bench 19.1% · 1Y 45.9%12 of 12 weeks ahead 100% evidence
Exact sum: 24.9 + 17.8 + 9.3 + 12.2 = 64.2 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
3Pidilite Industries LtdPIDILITIND 63.6/100Mixed-positive evidence90% evidence TURNING 21.8/35 Revenue 11.1% · PAT 17.9% · OPM change 3 pp 88% evidence 19.6/25 ROCE 31% · OPM 23% 100% evidence 7.6/20 P/E 66.6× · PEG 3.73 100% evidence 14.6/20 RS sector 5.2% · RS bench 7.2% · 1Y 11.5%6 of 10 weeks ahead 70% evidence
Exact sum: 21.8 + 19.6 + 7.6 + 14.6 = 63.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Vikram Thermo (India) Ltd530477 63.1/100Mixed-positive evidence63% evidence TURNING 23.1/35 Revenue 7% · PAT 100% · OPM change 7.1 pp 83% evidence 19.2/25 ROCE 36.4% · OPM 31.7% 76% evidence 8.9/20 P/E 20× · PEG — 50% evidence 11.9/20 RS sector — · RS bench 40.3% · 1Y —4 of 4 weeks ahead 25% evidence
Exact sum: 23.1 + 19.2 + 8.9 + 11.9 = 63.1 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
5Yasho Industries LtdYASHO 62.6/100Mixed-positive evidence87% evidence TURNING 29.3/35 Revenue 34.1% · PAT 100% · OPM change 7 pp 100% evidence 8.7/25 ROCE 8.9% · OPM 24% 100% evidence 12.1/20 P/E 80.7× · PEG 1.15 65% evidence 12.5/20 RS sector -2.4% · RS bench 109.3% · 1Y 97.1%11 of 11 weeks ahead 70% evidence
Exact sum: 29.3 + 8.7 + 12.1 + 12.5 = 62.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6Tatva Chintan Pharma Chem LtdTATVA 61.4/100Mixed-positive evidence93% evidence BREAKING OUT 30.7/35 Revenue 41.1% · PAT 100% · OPM change 4 pp 100% evidence 6.6/25 ROCE 7.1% · OPM 19% 100% evidence 4.8/20 P/E 79.8× · PEG 5.63 65% evidence 19.3/20 RS sector 21.3% · RS bench 40.9% · 1Y 56.1%6 of 12 weeks ahead 100% evidence
Exact sum: 30.7 + 6.6 + 4.8 + 19.3 = 61.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Panama Petrochem LtdPANAMAPET 57.5/100Mixed-positive evidence90% evidence TURNING 17.5/35 Revenue 9.7% · PAT 14.5% · OPM change 2 pp 88% evidence 13.3/25 ROCE 19.2% · OPM 11% 100% evidence 15.8/20 P/E 12.9× · PEG 0.55 100% evidence 10.9/20 RS sector -5.8% · RS bench 42.3% · 1Y 31.6%10 of 11 weeks ahead 70% evidence
Exact sum: 17.5 + 13.3 + 15.8 + 10.9 = 57.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8Kronox Lab Sciences LtdKRONOX 56.7/100Mixed-positive evidence61% evidence 13.6/35 Revenue 1% · PAT 8.2% · OPM change 6.8 pp 83% evidence 21.2/25 ROCE 36% · OPM 36.4% 95% evidence 11.1/20 P/E 20.3× · PEG — 15% evidence 10.8/20 RS sector — · RS bench 5.4% · 1Y — 25% evidence
Exact sum: 13.6 + 21.2 + 11.1 + 10.8 = 56.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9Alkyl Amines Chemicals LtdALKYLAMINE 56.5/100Mixed-positive evidence73% evidence TURNING 20.5/35 Revenue 17.4% · PAT 100% · OPM change -0.1 pp 71% evidence 18.9/25 ROCE 41.3% · OPM 14.5% 95% evidence 9.3/20 P/E 48.2× · PEG — 50% evidence 7.8/20 RS sector -14.6% · RS bench 3% · 1Y -18.7%10 of 10 weeks ahead 70% evidence
Exact sum: 20.5 + 18.9 + 9.3 + 7.8 = 56.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10Aether Industries LtdAETHER 55.9/100Mixed-positive evidence100% evidence BREAKING OUT 24.5/35 Revenue 34.4% · PAT 34.3% · OPM change -1 pp 100% evidence 10.6/25 ROCE 11.9% · OPM 31% 100% evidence 4.3/20 P/E 85.2× · PEG 8.9 100% evidence 16.5/20 RS sector 30.6% · RS bench 51.5% · 1Y 97%10 of 12 weeks ahead 100% evidence
Exact sum: 24.5 + 10.6 + 4.3 + 16.5 = 55.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11Aarti Industries LtdAARTIIND 53.7/100Mixed-positive evidence100% evidence FADING 27.9/35 Revenue 27% · PAT 100% · OPM change 3 pp 100% evidence 8.8/25 ROCE 6.8% · OPM 16% 100% evidence 6.9/20 P/E 34× · PEG 2.05 100% evidence 10.1/20 RS sector -0.7% · RS bench 15.3% · 1Y 13.7%6 of 12 weeks ahead 100% evidence
Exact sum: 27.9 + 8.8 + 6.9 + 10.1 = 53.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12Vinati Organics LtdVINATIORGA 50.0/100Mixed-positive evidence76% evidence ASLEEP 12.2/35 Revenue 5.1% · PAT 5.7% · OPM change -5 pp 95% evidence 17.4/25 ROCE 19.8% · OPM 24% 76% evidence 13.3/20 P/E 30.2× · PEG — 50% evidence 7.1/20 RS sector -4.1% · RS bench -14% · 1Y -30.2%0 of 10 weeks ahead 70% evidence
Exact sum: 12.2 + 17.4 + 13.3 + 7.1 = 50 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
13DMCC Speciality Chemicals LtdDMCC 49.4/100Mixed-negative evidence76% evidence FADING 20.4/35 Revenue 34.8% · PAT 27% · OPM change -2.1 pp 83% evidence 11.4/25 ROCE 15.3% · OPM 10% 95% evidence 10.5/20 P/E 25.8× · PEG — 15% evidence 7.1/20 RS sector -11.1% · RS bench 2.9% · 1Y -9.1%8 of 12 weeks ahead 100% evidence
Exact sum: 20.4 + 11.4 + 10.5 + 7.1 = 49.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
14Fineotex Chemical LtdFCL 47.6/100Mixed-negative evidence94% evidence TURNING 18.7/35 Revenue 91.5% · PAT 41% · OPM change -2 pp 100% evidence 13.0/25 ROCE 18.3% · OPM 16% 100% evidence 3.3/20 P/E 37.4× · PEG 4.19 100% evidence 12.6/20 RS sector -2.3% · RS bench 42% · 1Y 45.8%11 of 11 weeks ahead 70% evidence
Exact sum: 18.7 + 13 + 3.3 + 12.6 = 47.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
15Grauer & Weil (India) LtdGRAUWEIL 46.9/100Mixed-negative evidence96% evidence TURNING 15.5/35 Revenue 4.9% · PAT 4.4% · OPM change 8 pp 88% evidence 16.8/25 ROCE 21.4% · OPM 17% 100% evidence 7.7/20 P/E 21.2× · PEG 4.01 100% evidence 6.9/20 RS sector -15% · RS bench -1.6% · 1Y -24.9%9 of 12 weeks ahead 100% evidence
Exact sum: 15.5 + 16.8 + 7.7 + 6.9 = 46.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16Platinum Industries LtdPLATIND 46.8/100Mixed-negative evidence70% evidence ASLEEP 16.7/35 Revenue 14.5% · PAT 0% · OPM change 4 pp 83% evidence 12.7/25 ROCE 15.7% · OPM 12% 95% evidence 10.8/20 P/E 23.7× · PEG — 15% evidence 6.6/20 RS sector -10.6% · RS bench -9% · 1Y -23.9%0 of 10 weeks ahead 70% evidence
Exact sum: 16.7 + 12.7 + 10.8 + 6.6 = 46.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17Neogen Chemicals LtdNEOGEN 44.0/100Mixed-negative evidence90% evidence LEADER 15.3/35 Revenue 18.1% · PAT 6.1% · OPM change 2 pp 100% evidence 6.9/25 ROCE 6.5% · OPM 19% 100% evidence 5.1/20 P/E 156× · PEG — 50% evidence 16.7/20 RS sector 15.8% · RS bench 33.3% · 1Y 28.7%12 of 12 weeks ahead 100% evidence
Exact sum: 15.3 + 6.9 + 5.1 + 16.7 = 44 · Decision use: Price leads the evidence: RS versus the benchmark is 33.3%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
18Vishnu Chemicals LtdVISHNU 43.5/100Mixed-negative evidence100% evidence FADING 15.5/35 Revenue 16.5% · PAT 17.2% · OPM change -1 pp 100% evidence 11.8/25 ROCE 16.3% · OPM 15% 100% evidence 6.2/20 P/E 27.6× · PEG 2.82 100% evidence 10.0/20 RS sector -2.3% · RS bench 13.3% · 1Y 23.1%10 of 12 weeks ahead 100% evidence
Exact sum: 15.5 + 11.8 + 6.2 + 10 = 43.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
19Anupam Rasayan India LtdANURAS 41.5/100Mixed-negative evidence78% evidence ASLEEP 20.6/35 Revenue 64.5% · PAT 38.8% · OPM change -7 pp 83% evidence 10.3/25 ROCE 7.4% · OPM 22% 76% evidence 8.0/20 P/E 80.8× · PEG — 50% evidence 2.6/20 RS sector -17.4% · RS bench -3.6% · 1Y 5.5%2 of 12 weeks ahead 100% evidence
Exact sum: 20.6 + 10.3 + 8 + 2.6 = 41.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
20Chemcon Speciality Chemicals LtdCHEMCON 40.4/100Mixed-negative evidence77% evidence TURNING 16.1/35 Revenue 15.7% · PAT -3.5% · OPM change 1.2 pp 83% evidence 8.8/25 ROCE 6.4% · OPM 11.8% 95% evidence 11.5/20 P/E 27.2× · PEG — 50% evidence 4.0/20 RS sector -21.7% · RS bench -12% · 1Y -17.1%9 of 10 weeks ahead 70% evidence
Exact sum: 16.1 + 8.8 + 11.5 + 4 = 40.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
21Galaxy Surfactants LtdGALAXYSURF 40.1/100Mixed-negative evidence90% evidence TURNING 12.0/35 Revenue 24.2% · PAT -13.1% · OPM change -2 pp 88% evidence 12.9/25 ROCE 13.5% · OPM 9% 100% evidence 8.9/20 P/E 24.8× · PEG 4.39 100% evidence 6.3/20 RS sector -12.1% · RS bench -4.1% · 1Y -25.1%4 of 10 weeks ahead 70% evidence
Exact sum: 12 + 12.9 + 8.9 + 6.3 = 40.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
22Amines & Plasticizers LtdAMNPLST 40.0/100Mixed-negative evidence77% evidence TURNING 9.4/35 Revenue -13.8% · PAT -14.3% · OPM change 2 pp 83% evidence 15.2/25 ROCE 16.7% · OPM 15% 95% evidence 8.5/20 P/E 29.9× · PEG — 50% evidence 6.9/20 RS sector -19.4% · RS bench 3.8% · 1Y -12.3%10 of 10 weeks ahead 70% evidence
Exact sum: 9.4 + 15.2 + 8.5 + 6.9 = 40 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
23Transpek Industry LtdTRANSPEK 38.4/100Mixed-negative evidence77% evidence TURNING 8.1/35 Revenue -4.4% · PAT -6.3% · OPM change -7.5 pp 83% evidence 9.1/25 ROCE 8.3% · OPM 12% 95% evidence 13.8/20 P/E 16.2× · PEG — 50% evidence 7.4/20 RS sector -19.7% · RS bench 8% · 1Y -19.4%3 of 10 weeks ahead 70% evidence
Exact sum: 8.1 + 9.1 + 13.8 + 7.4 = 38.4 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
24Paushak LtdPAUSHAKLTD 36.2/100Mixed-negative evidence81% evidence TURNING 11.5/35 Revenue 15.4% · PAT -15.7% · OPM change -1 pp 95% evidence 9.9/25 ROCE 8.3% · OPM 31% 95% evidence 8.3/20 P/E 36.6× · PEG — 50% evidence 6.5/20 RS sector -27.5% · RS bench 7.3% · 1Y -3.2%6 of 11 weeks ahead 70% evidence
Exact sum: 11.5 + 9.9 + 8.3 + 6.5 = 36.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
25Clean Science & Technology LtdCLEAN 34.1/100Adverse evidence94% evidence ASLEEP 4.4/35 Revenue -0.4% · PAT -13.8% · OPM change -5 pp 100% evidence 17.6/25 ROCE 20.6% · OPM 36% 100% evidence 8.6/20 P/E 33.5× · PEG 6.24 100% evidence 3.5/20 RS sector -24.4% · RS bench -18% · 1Y -40.9%2 of 10 weeks ahead 70% evidence
Exact sum: 4.4 + 17.6 + 8.6 + 3.5 = 34.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
26Thirumalai Chemicals LtdTIRUMALCHM 24.8/100Thin evidence · provisional59% evidence ASLEEP 9.1/35 Revenue -15.4% · PAT -80% · OPM change -1.4 pp 62% evidence 0.9/25 ROCE -3.1% · OPM 1.4% 95% evidence 10.0/20 P/E — · PEG — 0% evidence 4.8/20 RS sector -15.9% · RS bench -22.9% · 1Y -40.9%1 of 10 weeks ahead 70% evidence
Exact sum: 9.1 + 0.9 + 10 + 4.8 = 24.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
27Amal Ltdthis pageAMAL 50.0/100Thin evidence · provisional50% evidence 19.8/35 Revenue 72.5% · PAT 19.1% · OPM change -31.6 pp 53% evidence 15.1/25 ROCE 36.3% · OPM 12.9% 57% evidence 10.9/20 P/E 23× · PEG — 15% evidence 4.2/20 RS sector -18.2% · RS bench -26.3% · 1Y -51.4%0 of 12 weeks ahead to 2026-03-08 70% evidence
Exact sum: 19.8 + 15.1 + 10.9 + 4.2 = 50 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

15 · Frequently asked questions

Frequently asked questions

What is Amal Ltd's share price today?

Amal Ltd trades at ₹508, −21.6% over the past year. The company is valued at ₹628 Cr. The stock sits at 8% of its 52-week range of ₹458–₹1,045, −22.6% versus its 200-day average. On the tape, the price is in a downtrend, 12 weeks in. — as of 31 July 2026.

What were Amal Ltd's latest quarterly results?

Amal Ltd reported revenue of ₹62.6 Cr and net profit of ₹5.0 Cr for the Dec 25 quarter. Revenue rose 36.7% and profit fell 69.6% year on year. Earnings per share were ₹4.06. The operating margin was 12.9%, 31.6 pp lower than a year earlier. — as of 31 July 2026.

What is Amal Ltd's revenue?

Amal Ltd reported revenue of ₹62.6 Cr in the Dec 25 quarter, +36.7% year on year. For the full FY25 fiscal year, revenue was ₹135 Cr (+57.0%). Over the last 5 years revenue compounded at 32.5% a year. — as of 31 July 2026.

What is Amal Ltd's profit?

Amal Ltd earned ₹5.0 Cr of net profit in the Dec 25 quarter, −69.6% year on year. Full-year FY25 profit was ₹29.0 Cr. The operating margin ran 12.9% in the latest quarter. — as of 31 July 2026.

What is Amal Ltd's market cap?

Amal Ltd's market capitalisation is ₹628 Cr at a share price of ₹508. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 31 July 2026.

What is Amal Ltd's P/E ratio?

Amal Ltd trades at a P/E of 23.0×, at the 10th percentile of its own 5-year range, against a long-run median of 65.1×. This is a comparison with the stock's own history, not a value call — as of 31 July 2026.

Does Amal Ltd pay a dividend?

Yes — Amal Ltd's dividend payout was 4% of profit in FY25, and it recorded a payout in 1 of its last 6 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 31 July 2026.

Is Amal Ltd overvalued?

On its own history, Amal Ltd looks cheap against its own history: its P/E of 23.0× has been cheaper only 10% of the time in 5 years (long-run median 65.1×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 31 July 2026.

Is Amal Ltd growing?

Not right now — Amal Ltd's latest numbers are shrinking: latest-quarter revenue +36.7% year on year, profit −69.6%, and the margin −31.6 pp at 12.9%. The 5-year compound rates are 32.5% (revenue) and 26.4% (profit). The earnings engine currently reads: deteriorating — as of 31 July 2026.

How is Amal Ltd performing?

Amal Ltd is in a downtrend, 12 weeks in. Its latest quarter's revenue rose 36.7% and profit fell 69.6% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 21 weeks. This describes what the data did, not a rating. — as of 31 July 2026.

Is Amal Ltd in an uptrend?

No — the price is in a downtrend (week 12 of stage 4), trading −22.6% versus its 200-day average and at 8% 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 31 July 2026.

Is Amal Ltd beating the market?

Not lately — on a trailing-13-week view Amal Ltd is currently behind the NIFTY 500 (21 weeks and counting; last ahead the week of 2025-10-10), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.0 years the stock moved +1,934% against the NIFTY 500's +260% — ahead of the index over the full window. — as of 31 July 2026.

Will Amal Ltd's share price go up?

This page publishes no price forecast for Amal Ltd. What it measures instead: the share price is ₹508, the price is in a downtrend 12 weeks in. Its P/E of 23.0× sits at the 10th percentile of its own 5-year range. Direction is not something this site claims to know. — as of 31 July 2026.

Who owns Amal Ltd?

Promoters hold 71.3% of Amal Ltd, foreign institutions null%, domestic institutions 0.0% and the public 28.6% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 31 July 2026.

Does Amal Ltd have too much debt?

No — Amal Ltd's debt-to-equity is 0.00, and operating profit covers the interest bill 22×. FY25 borrowings were ₹0.0 Cr against equity of ₹99.0 Cr. The returns on this page are earned, not borrowed — as of 31 July 2026.

What is Amal Ltd's capex?

Amal Ltd spent ₹25.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY25 alone that was ₹2.0 Cr, with ₹0.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 31 July 2026.

What is Amal Ltd's cash flow?

Amal Ltd generated ₹50.0 Cr of operating cash flow in FY25 and ₹48.0 Cr of free cash flow after ₹2.0 Cr of capital spending. Reported profit that year was ₹29.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 31 July 2026.

Is Amal Ltd's profit real cash?

Yes — over the last 3 fiscal years, 219% of Amal Ltd's reported profit arrived as operating cash. In FY25, operating cash was ₹50.0 Cr against reported profit of ₹29.0 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 31 July 2026.

Where is Amal Ltd in its business cycle?

Amal Ltd's FY25 operating margin was 32.0%, against a 6-year band of −9.0%–43.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 12.9%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 31 July 2026.

What could break the Amal Ltd story?

The sharpest disagreement: annual EPS moved +1,616.7% against a −21.6% 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 31 July 2026.

Is Amal Ltd a stock worth studying right now?

This is not investment advice. The machine read: Amal Ltd is cheap for a reason. The P/E sits at the 10th percentile of its own range, and the quarters are still getting worse. 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 31 July 2026.

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