# Indo Amines share price today (Indo Amines Ltd, NSE: INDOAMIN)

> Indo Amines share price today: ₹124.35 at the NSE close on 3 November 2026, down 6.8% in a year. Indo Amines (NSE: INDOAMIN) is worth ₹904 crore, trades at a P/E of 11.1 and has closed between ₹88.15 and ₹157.60 over the past 52 weeks. > Indo Amines Ltd's results are improving, while its P/E is near the low end of its own history over 11 years, higher than only 11% of past readings. INDOAMIN · Chemicals - Organic · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/indo-amines-ltd

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## Key numbers

- Business trend: Growing steadily, from the last 12 quarters
- Price: ₹124.35 (−6.8% in a year)
- P/E: 11.1× (lower than 89% of the last 11 years)
- Revenue (Jun 2026): ₹375 Cr (+30.2% on a year ago)
- Profit (Jun 2026): ₹31.0 Cr (+6.9% on a year ago)
- Operating margin: 14.0% (+3.0 points on a year ago)
- ROCE: 19%, FY26
- ROIC: 12.8%, against a 12.0% cost of capital: +0.8 points

The main question: yearly earnings per share moved +41.0% while the share price moved −6.8%. ## What is the Indo Amines share price today? Indo Amines Ltd's share price was ₹124.35 at the close on 3 November 2026. It has been rising for 6 weeks. That is 3.4% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹88 and ₹158, and at that close it sat 52% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 2 weeks in a row. Over the last 11 years the share price moved +526% while the NIFTY 500 moved +243%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Indo Amines this quarter? Three changes stood out: best operating margin in 15 quarters, revenue up on a year earlier for 10 quarters in a row and profit up on a year earlier for 9 quarters in a row. 1. Best operating margin in 15 quarters Operating margin was 14% in the June 2026 quarter, against 11% a year earlier. 2. Revenue up on a year earlier for 10 quarters in a row In the June 2026 quarter revenue was ₹375 crore, +30.2% on a year earlier. 3. Profit up on a year earlier for 9 quarters in a row In the June 2026 quarter profit was ₹31 crore, +6.9% on a year earlier. ## What are Indo Amines' latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Indo Amines reported revenue of ₹375 crore, up 30.2% from ₹288 crore a year earlier, and a profit of ₹31.0 crore, up 6.9% from ₹29.0 crore. ### Indo Amines results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹375 crore | ₹288 crore | +30.2% |
| Profit | ₹31.0 crore | ₹29.0 crore | +6.9% |
| Earnings per share | ₹4.24 | ₹3.97 | +6.8% |
| Operating margin | 14.0% | 11.0% | +3.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Indo Amines share price history? Indo Amines closed at ₹124.35 on 3 November 2026, down 6.8% from ₹133.40 a year earlier (31 October 2025) and up 2.9% over five years. Its highest weekly close since April 2016 was ₹228.65 on 13 September 2024. ### Indo Amines share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹122.25 | +1.7% |
| 1 month ago · 1 Oct 2026 | ₹136.35 | −8.8% |
| 6 months ago · 30 Apr 2026 | ₹112.54 | +10.5% |
| 1 year ago · 31 Oct 2025 | ₹133.40 | −6.8% |
| 3 years ago · 3 Nov 2023 | ₹110.80 | +12.2% |
| 5 years ago · 4 Nov 2021 | ₹120.85 | +2.9% |
| 10 years ago · 4 Nov 2016 | ₹43.08 | +188.6% |
| Earliest weekly close in our records · 1 Apr 2016 | ₹19.88 | +525.5% |
| Highest weekly close since April 2016 · 13 Sep 2024 | ₹228.65 | −45.6% |
| Lowest weekly close since April 2016 · 20 Mar 2020 | ₹13.05 | +852.9% |
| 52-week high (weekly close) · 9 Oct 2026 | ₹157.60 | −21.1% |
| 52-week low (weekly close) · 20 Mar 2026 | ₹88.15 | +41.1% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (557 weekly closes from 1 April 2016 to 3 November 2026.)

## What is the latest news on Indo Amines? 3 Nov 2026: Indo Amines closed at ₹124.35, up 1.7% on the week and down 8.8% on the month. Our read, 10 Oct 2026: Operating earnings have improved, but conditional plant permissions, safety disruption and unverified customer payment terms prevent a confident recovery thesis. ### Earlier

- 17 Sep 2026: ex-date for a dividend of ₹0.50 a share. - Results for April to June 2026: Revenue up 30.2% and profit up 6.9% on a year earlier. ### Our read of the business

April to June 2026: Operating improvement precedes later plant disruptions. (Our read after the April to June 2026 results, written 10 October 2026.)

## What dividend does Indo Amines pay? Indo Amines paid ₹0.50 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.40% at the ₹124.35 close on 3 November 2026. The last was a dividend of ₹0.50 a share, ex-date 17 September 2026. ### Indo Amines dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 17 Sep 2026 | ₹0.50 | Dividend |
| 17 Sep 2025 | ₹0.50 | Dividend |
| 17 Sep 2024 | ₹0.50 | Dividend |
| 20 Sep 2023 | ₹0.50 | Dividend |
| 2 Sep 2022 | ₹0.50 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 4 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Indo Amines Ltd paid out 5% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Indo Amines management say on the latest results call? Indo Amines' management made 0 promises we could check against what it later reported. (Our read after the April to June 2026 results, written 10 October 2026.)

## What is the future of Indo Amines? What is changing in the business? What is changing at Indo Amines, from the latest results and calls: operating earnings improvement, operating cash supports reinvestment and differentiated product development. - Operating earnings improvement. Operating profit grows faster than sales, with unchanged interest expense. ⚠ estimate
- Operating cash supports reinvestment. Cash conversion covers accounting profit, but capital spending leaves little surplus. ⚠ estimate
- Differentiated product development. The previously disclosed Morpholine launch creates a possible product-mix lever. ⚠ estimate
- Conditional operating permission. Vadodara relief removes an immediate closure direction while leaving a compliance test. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the April to June 2026 results, written 10 October 2026.)

## What could change the Indo Amines story? What are the risks? If production resumes or remains permitted but operating profit falls while receivable and inventory days continue to rise, the apparent recovery would be credit-funded growth rather than a durable improvement. ### Each change stops working if

- Operating earnings improvement: Operating profit reverses despite maintained sales, or compliance and interruption costs absorb the incremental contribution. - Operating cash supports reinvestment: Collections weaken and further capital spending requires rising borrowings without incremental operating cash. - Conditional operating permission: The conditional permission expires without renewal or further non-compliance interrupts production. ### The main risks

- Plant continuity and safety: Later plant events are outside the latest reported quarter. ⚠ estimate
- Conditional environmental clearance: Vadodara relief is time-limited and conditional. ⚠ estimate
- Unresolved customer-quality dig: Customer payment terms do not explain the increase in receivable and inventory days. ⚠ estimate
- : Capital spending consumes operating cash while debt rises. ⚠ estimate

(Our read after the April to June 2026 results, written 10 October 2026.)

## What to watch in Indo Amines' next results? When Indo Amines reports July to September 2026, these are the 6 checks that show whether the story is still on course. First: A continuing suspension, further safety incident or disclosed production loss. | What to check | Why |
| --- | --- |
| A continuing suspension, further safety incident or disclosed production loss. | Plant continuity and safety |
| No extension disclosure at the conditional period's expiry or a renewed closure direction. | Conditional environmental clearance |
| Margins decline toward the historical norm without compensating sales growth. | Margin normalization |
| Receivable and inventory days rise again while cash receipts lag sales. | Unresolved customer-quality dig |
| Borrowings increase alongside limited free cash and no disclosed incremental project earnings. |  |
| Repeated strategy statements without product revenue or cash contribution. | Product economics and evidence depth |

## Which stock lists is Indo Amines on? Indo Amines is on 2 of our India lists: Multibagger study list and Breakout stocks. - [Multibagger study list Study stage: middle](https://www.sectoralpha.in/multibagger-stocks-india)
- [Breakout stocks Breakout date: 9 October 2026](https://www.sectoralpha.in/breakout-stocks-india)

## Is Indo Amines profitable? Indo Amines Ltd earned ₹31.0 Cr of net profit in the Jun 2026 quarter, +6.9% on the same quarter a year earlier. That is the 9th quarter in a row of profit growth. Full-year FY26 profit was ₹79.0 Cr. Over 10 years profit has grown 24.3% a year on average. That is 8.3% of the quarter's revenue. The same quarter a year earlier earned ₹29.0 Cr. For the full year, FY26 profit was ₹79.0 Cr (+41.1% on the year before). Why profit moved: revenue changed +30.2% on a year earlier and the margin moved +3.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +29.9% and revenue +12.9%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Indo Amines make, and is it growing? Indo Amines Ltd reported ₹375 Cr of revenue in the Jun 2026 quarter, +30.2% on the same quarter a year earlier. That is the 10th quarter in a row with growth on the year before. Over 10 years it has grown 16.4% a year on average. The last full year, FY26, came in at ₹1,160 Cr. The last four reported quarters add to ₹1,247 Cr. FY26 revenue was ₹1,160 Cr, +7.5% on the year before. Recent pace: the last four quarters grew +12.9% on average, against 16.4% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +13.3%, against +13.7% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +24.2%, against +28.1% a year (rolling over). ## How much of every ₹100 of sales does Indo Amines keep? Indo Amines Ltd's operating margin was 14.0% in the Jun 2026 quarter, 3.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between 7.0% and 13.0%. The latest quarter is above every full year in that period. Why the margin moved: operating margin changed +3.2 percentage points on the year while gross margin changed +2.3 points. So the gain came mostly from the gross margin, which means input costs and prices charged. ## Is Indo Amines' profit turning into cash? Over the last 3 years, 103% of Indo Amines Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹79.0 Cr of operating cash against ₹79.0 Cr of profit. After ₹77.0 Cr of spending on assets, ₹2.0 Cr was left over as free cash. Why this happened. The cash conversion record reduces the likelihood that the entire earnings improvement is an accrual artifact. Borrowings continue to increase and free cash remains limited. The Self-Funded Growth Engine does not yet describe the complete sources-and-uses picture. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 103% of profit came in as cash: the cash cycle got 40 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. What to look at next: the bigger use of cash is spending on new assets, at 3.6× depreciation over three years. The next section checks what that spending is building. ## Where does Indo Amines' cash go? Indo Amines Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 111 days in FY26, up from 71 days in FY21. It spent ₹191 Cr on assets over the last 3 years. Customers take 89 days to pay, and stock sits for 88 days on average. At FY26 sales of ₹1,160 Cr, each day of that cycle ties up about ₹3.2 Cr, so roughly ₹353 Cr is tied up in the business at any time. FY26: customers took 89 days to pay and stock sat for 88 days, about 2.9 months of sales sitting as stock, for a full cycle of 111 days, longer than FY21's 71. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 88 days. Customers pay about 89 days after that. Suppliers are paid at 66 days. Together that makes the 111-day cycle. Spending on assets: ₹191 Cr over the last 3 years, against ₹53.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹31.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Indo Amines' P/E ratio, and how does it compare with its own history? Indo Amines Ltd's P/E is 11.1×, near the low end of its own history: it has been lower only 11% of the time. Its usual P/E (the middle reading) is 18.9×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +41.0% while the price moved −6.8%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved +0.6% a year; about +13.7% a year came from earnings growth and about −13.1 percentage points from the multiple (the market paying less); over 10 years the price moved +11.2% a year; about +23.3% a year came from earnings growth and about −12.1 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the Indo Amines share price assume? Worked out from its price on 11 October 2026, Indo Amines Ltd's share price assumed profit growth of about 5.8% a year. Over the past 10 years its profit actually grew 24.3% a year. Today its P/E is 11.1×, lower than 89% of its own last 11 years. This is a one-day reading, taken on 11 October 2026. Every other number on this page, the multiple included, uses the latest price as of 3 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Indo Amines business getting better or worse? Indo Amines Ltd's business is growing steadily. Revenue, profit and EPS growth have stayed positive throughout, and ROCE is steady at 30.5%. This is based on 12 quarters of 4 measures. Why it matters: steady growth with healthy returns is how a business compounds over time. ## What is the Indo Amines story, and has it been checked? Indo Amines Ltd's story is not scored yet against the checks our research set on 10 October 2026. Where it sits in its own cycle: MID EXPANSION. Our read, 10 October 2026. Operating earnings have improved, but conditional plant permissions, safety disruption and unverified customer payment terms prevent a confident recovery thesis. From the numbers. Operating earnings are improving in mid expansion, while margins sit near their historical upper range and the price curve is in stage 2. From the price. Price stage 2, week 6, below its 200-day line, relative strength rising. From the research. Operating earnings have improved, but conditional plant permissions, safety disruption and unverified customer payment terms prevent a confident recovery thesis. Where they disagree. Operating earnings are improving in mid expansion, while margins sit near their historical upper range and the price curve is in stage 2. What is proven. Operating earnings have improved, but conditional plant permissions, safety disruption and unverified customer payment terms prevent a confident recovery thesis. What is not proven yet. If production resumes or remains permitted but operating profit falls while receivable and inventory days continue to rise, the apparent recovery would be credit-funded growth rather than a durable improvement. What would change our mind. If production resumes or remains permitted but operating profit falls while receivable and inventory days continue to rise, the apparent recovery would be credit-funded growth rather than a durable improvement. The test written in advance. If production resumes or remains permitted but operating profit falls while receivable and inventory days continue to rise, the apparent recovery would be credit-funded growth rather than a durable improvement. Measured by: the thesis as written as stated by the next result. The test written in advance. Plant continuity and safety. Measured by: Plant continuity and safety A continuing suspension, further safety incident or disclosed production loss. by the next result. The test written in advance. Conditional environmental clearance. Measured by: Conditional environmental clearance No extension disclosure at the conditional period's expiry or a renewed closure direction. by the next result. What the company does. The latest sales and operating-profit increase is real in the supplied accounts; modest reported profit growth reflects a non-operating benefit in the comparison quarter. Historical cash conversion covers profit, while capital spending and a longer cash cycle limit cash available to shareholders. Bronze confidence requires evidence of uninterrupted production and collections. What the surface reading misses. The surface reading is: The latest sales and operating margin suggest an improving business. The research reads it further: Operating profit increases more than sales, while interest is unchanged. The comparison quarter's non-operating income masks part of the reported profit improvement. Pricing, volume and mix contributions are not disclosed. What the surface reading misses. The surface reading is: Profit growth indicates acceleration. The research reads it further: Operating profit improves from a smaller base; higher depreciation and tax partly offset that contribution. Lever 2 · Value-added mix: building. The previously disclosed Morpholine launch creates a possible product-mix lever. What proves it keeps working: Differentiated product development. Lever 13 · Mandatory norms: building. Vadodara relief removes an immediate closure direction while leaving a compliance test. What proves it keeps working: Conditional operating permission. It stops working if The conditional permission expires without renewal or further non-compliance interrupts production. Sources: our stock research file (10 October 2026) · quarterly results through Jun 2026. The story check is re-scored every results season; the record below never changes. ## What is Indo Amines management's track record? Management disclosed environmental trouble and obtained conditional relief; the later safety investigation is open. Cash-rich/deleveraged annual-report wording alone does not prove downturn allocation discipline. Full prior-downturn conduct and commercial product economics are unestablished. ### Regulatory and governance record

Unspecified court docket and contaminated telecom allegations are excluded. Sources:

- [indoaminesltd.com](https://indoaminesltd.com/files/news/Announcement-under-Reg-30-Company-update-21-07-2026.pdf)
- [scanx.trade](https://scanx.trade/stock-market-news/companies/indo-amines-mahad-facility-halts-operations-fatal-gas-leak/48500831)
- [indoaminesltd.com](https://indoaminesltd.com/files/financials/ANNUAL-REPORT-2025-26.pdf)

(Checked 14 October 2026.)

## How much does Indo Amines earn on its capital? Indo Amines Ltd earned a ROCE of 19% in FY26. That is up from a low of 11% in FY20. Its return on capital used (ROIC) is 0.8 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 6.8% net margin and 1.29× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 6.8% net margin × 1.29× asset turnover × 2.29× leverage (assets divided by equity) ≈ 20.1% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 12.8% − 12.0% = +0.8 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error. ## Does Indo Amines have too much debt? Indo Amines Ltd has total debt of ₹311 Cr against shareholder equity of ₹394 Cr as of Jun 2026, so its debt is 0.79× its equity. Year by year, that ratio went from 1.10 in FY22 to 0.79 in FY26. Keep that borrowing in mind when reading the returns on this page. Why this happened. The accounts support an improvement before financing and tax. The benefit belongs to shareholders only if pricing and production continuity preserve the incremental margin. Volume, pricing and utilization contributions are unknown, so The Operating Leverage Catapult is not established. The next reported operating-profit print must confirm persistence after the subsequent plant events. ## What is the Indo Amines shareholding pattern? Promoters raised their stake in Indo Amines Ltd by 1.2 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 58.4% of the company. Foreign institutions moved +0.1 points over the same period, to 0.2%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Why the owners changed: promoters drove it (+1.2 points). They raised their stake step by step. ## How far is Indo Amines from balance-sheet trouble? For Indo Amines Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Indo Amines rank in its industry? 66.1 out of 100, rank 2 of 20 in Chemicals - Organic, with 81% of the evidence available. Indo Amines Ltd scores 66.1 out of 100 against the 20 companies it is compared with in Chemicals - Organic, ranking 2. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 20.8 + 16.8 + 19 + 9.5 = 66.1. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Indo Amines compared with? Indo Amines ranks 2 of 20 Chemicals - Organic companies on the 4-Factor Sector Score, with 66.1 out of 100. 1. [Nitta Gelatin India Ltd](https://www.sectoralpha.in/stocks/nitta-gelatin-india-ltd) NITTAGELA · quiet · Most evidence points up · 85% evidence 76.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.4/35 · Revenue 15% · Profit 49.4% · Operating margin change 9 points · 100% evidence Capital efficiency 21.3/25 · ROCE 27.7% · Operating margin 28% · 100% evidence Valuation 13.2/20 · P/E 12.1× · PEG 0.95 · 100% evidence Relative strength 12.0/20 · Lead over its industry n/a · Lead over NIFTY 500 35.5% · 1 year n/a · 25% evidence · 5 of 12 weeks ahead Exact sum: 30.4 + 21.3 + 13.2 + 12 = 76.9 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. Indo Amines Ltd this page INDOAMIN · losing its lead · Most evidence points up · 81% evidence 66.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.8/35 · Revenue 13.3% · Profit 24.2% · Operating margin change 3 points · 88% evidence Capital efficiency 16.8/25 · ROCE 18.9% · Operating margin 14% · 100% evidence Valuation 19.0/20 · P/E 10.6× · PEG 0.32 · 100% evidence Relative strength 9.5/20 · Lead over its industry n/a · Lead over NIFTY 500 2.3% · 1 year -10.4% · 25% evidence · 4 of 12 weeks ahead Exact sum: 20.8 + 16.8 + 19 + 9.5 = 66.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Valiant Organics Ltd](https://www.sectoralpha.in/stocks/valiant-organics-ltd) VALIANTORG · breaking out · Evidence leans up · 78% evidence 61.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.4/35 · Revenue 1.5% · Profit 100% · Operating margin change 6 points · 83% evidence Capital efficiency 9.0/25 · ROCE 5.5% · Operating margin 18% · 76% evidence Valuation 10.9/20 · P/E 23.2× · PEG n/a · 50% evidence Relative strength 19.8/20 · Lead over its industry 24.1% · Lead over NIFTY 500 48.6% · 1 year 39.6% · 100% evidence · 10 of 12 weeks ahead Exact sum: 21.4 + 9 + 10.9 + 19.8 = 61.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [OCCL Ltd](https://www.sectoralpha.in/stocks/occl-ltd) OCCLLTD · breaking out · Too little evidence to rank firmly · 56% evidence 59.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.6/35 · Revenue 40.6% · Profit 100% · Operating margin change 7 points · 83% evidence Capital efficiency 12.3/25 · ROCE 13% · Operating margin 28% · 76% evidence Valuation 11.1/20 · P/E 11× · PEG n/a · 15% evidence Relative strength 12.1/20 · Lead over its industry n/a · Lead over NIFTY 500 45.3% · 1 year n/a · 25% evidence · 12 of 12 weeks ahead Exact sum: 23.6 + 12.3 + 11.1 + 12.1 = 59.1 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 5. [BASF India Ltd](https://www.sectoralpha.in/stocks/basf-india-ltd) BASF · quiet · Evidence leans up · 71% evidence 57.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.8/35 · Revenue 6.5% · Profit 62.4% · Operating margin change 4 points · 88% evidence Capital efficiency 11.7/25 · ROCE 14.5% · Operating margin 10% · 100% evidence Valuation 14.1/20 · P/E 21.4× · PEG n/a · 50% evidence Relative strength 7.7/20 · Lead over its industry n/a · Lead over NIFTY 500 -13% · 1 year -30.9% · 25% evidence · 5 of 12 weeks ahead Exact sum: 23.8 + 11.7 + 14.1 + 7.7 = 57.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Elantas Beck India Ltd](https://www.sectoralpha.in/stocks/elantas-beck-india-ltd) ELANTAS · leader · Evidence leans up · 67% evidence 57.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.7/35 · Revenue 18.7% · Profit 35.5% · Operating margin change 1 points · 95% evidence Capital efficiency 18.1/25 · ROCE 21.2% · Operating margin 23% · 76% evidence Valuation 6.5/20 · P/E 54.1× · PEG n/a · 50% evidence Relative strength 11.8/20 · Lead over its industry n/a · Lead over NIFTY 500 31.9% · 1 year 33.1% · 25% evidence · 12 of 12 weeks ahead Exact sum: 20.7 + 18.1 + 6.5 + 11.8 = 57.1 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. 7. [Fine Organic Industries Ltd](https://www.sectoralpha.in/stocks/fine-organic-industries-ltd) FINEORG · leader · Evidence leans up · 96% evidence 56.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.9/35 · Revenue 7.1% · Profit 5.8% · Operating margin change 4 points · 88% evidence Capital efficiency 17.8/25 · ROCE 21.5% · Operating margin 25% · 100% evidence Valuation 15.0/20 · P/E 35.3× · PEG 0.58 · 100% evidence Relative strength 9.9/20 · Lead over its industry -7.6% · Lead over NIFTY 500 12.4% · 1 year 13.8% · 100% evidence · 9 of 12 weeks ahead Exact sum: 13.9 + 17.8 + 15 + 9.9 = 56.6 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 8. [Laxmi Organic Industries Ltd](https://www.sectoralpha.in/stocks/laxmi-organic-industries-ltd) LXCHEM · quiet · Evidence leans up · 81% evidence 54.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.1/35 · Revenue 5.5% · Profit 26% · Operating margin change 7.6 points · 88% evidence Capital efficiency 10.8/25 · ROCE 4.7% · Operating margin 12% · 100% evidence Valuation 13.1/20 · P/E 33.8× · PEG 1.14 · 100% evidence Relative strength 9.2/20 · Lead over its industry n/a · Lead over NIFTY 500 1.8% · 1 year -22% · 25% evidence · 10 of 12 weeks ahead Exact sum: 21.1 + 10.8 + 13.1 + 9.2 = 54.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Balaji Amines Ltd](https://www.sectoralpha.in/stocks/balaji-amines-ltd) BALAMINES · quiet · Evidence leans up · 78% evidence 53.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.2/35 · Revenue 11.1% · Profit 41.6% · Operating margin change 10 points · 83% evidence Capital efficiency 13.1/25 · ROCE 11% · Operating margin 25% · 76% evidence Valuation 9.1/20 · P/E 28× · PEG n/a · 50% evidence Relative strength 8.2/20 · Lead over its industry -2.5% · Lead over NIFTY 500 15.2% · 1 year 25.3% · 100% evidence · 6 of 12 weeks ahead Exact sum: 23.2 + 13.1 + 9.1 + 8.2 = 53.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Fairchem Organics Ltd](https://www.sectoralpha.in/stocks/fairchem-organics-ltd) FAIRCHEMOR · quiet · Evidence leans up · 100% evidence 53.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.3/35 · Revenue 17.1% · Profit 100% · Operating margin change 6.2 points · 100% evidence Capital efficiency 7.0/25 · ROCE 3.3% · Operating margin 10% · 100% evidence Valuation 13.0/20 · P/E 32.7× · PEG 0.84 · 100% evidence Relative strength 3.0/20 · Lead over its industry -15.4% · Lead over NIFTY 500 3.2% · 1 year -15.9% · 100% evidence · 9 of 12 weeks ahead Exact sum: 30.3 + 7 + 13 + 3 = 53.3 · What this means: Earnings are strong; relative strength in its sector is -15.4% and the one-year return is -15.9%. 11. [Sigachi Industries Ltd](https://www.sectoralpha.in/stocks/sigachi-industries-ltd) SIGACHI · breaking out · Evidence leans down · 100% evidence 49.4 out of 100 Growth Capital Valuation Relative
12. [GFL Ltd](https://www.sectoralpha.in/stocks/gfl-ltd) GFLLIMITED · breaking out · Evidence leans down · 71% evidence 48.6 out of 100 Growth Capital Valuation Relative
13. [Jyoti Resins and Adhesives Ltd](https://www.sectoralpha.in/stocks/jyoti-resins-and-adhesives-ltd) JYOTIRES · basing · Evidence leans down · 74% evidence 43.7 out of 100 Growth Capital Valuation Relative
14. [Foseco India Ltd](https://www.sectoralpha.in/stocks/foseco-india-ltd) FOSECOIND · leader · Evidence leans down · 81% evidence 41.1 out of 100 Growth Capital Valuation Relative
15. [Shree Ganesh Remedies Ltd](https://www.sectoralpha.in/stocks/shree-ganesh-remedies-ltd) SGRL · breaking out · Evidence leans down · 85% evidence 40.3 out of 100 Growth Capital Valuation Relative
16. [Oriental Aromatics Ltd](https://www.sectoralpha.in/stocks/oriental-aromatics-ltd) OAL · leader · Evidence leans down · 74% evidence 36.5 out of 100 Growth Capital Valuation Relative
17. [Gem Aromatics Ltd](https://www.sectoralpha.in/stocks/gem-aromatics-ltd) GEMAROMA · quiet · Too little evidence to rank firmly · 51% evidence 32.2 out of 100 Growth Capital Valuation Relative
18. [Sacheerome Ltd](https://www.sectoralpha.in/stocks/sacheerome-ltd) SACHEEROME · losing its lead · Too little evidence to rank firmly · 36% evidence 58.1 out of 100 Growth Capital Valuation Relative
19. [Shri Ahimsa Naturals Ltd](https://www.sectoralpha.in/stocks/shri-ahimsa-naturals-ltd) SHRIAHIMSA · leader · Too little evidence to rank firmly · 47% evidence 56.8 out of 100 Growth Capital Valuation Relative
20. [Citurgia Biochemicals Ltd](https://www.sectoralpha.in/stocks/citurgia-biochemicals-ltd) CITURGIA · Too little evidence to rank firmly · 25% evidence 34.3 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. 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 path the industry 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 growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Chemicals - Organic](https://www.sectoralpha.in/sectors/chemicals-organic), all 20 compared on one page. ## Which companies are close to Indo Amines in size? Indo Amines is the 14th largest of 20 Chemicals - Organic companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Jyoti Resins and Adhesives, Shri Ahimsa Naturals and Sacheerome. Just below it: Valiant Organics, OCCL and Fairchem Organics. ### Chemicals - Organic companies close in size

1. [Jyoti Resins and Adhesives Ltd](https://www.sectoralpha.in/stocks/jyoti-resins-and-adhesives-ltd) ₹1,006 crore
2. [Shri Ahimsa Naturals Ltd](https://www.sectoralpha.in/stocks/shri-ahimsa-naturals-ltd) ₹952 crore
3. [Sacheerome Ltd](https://www.sectoralpha.in/stocks/sacheerome-ltd) ₹922 crore
4. Indo Amines Ltd ₹865 crore
5. [Valiant Organics Ltd](https://www.sectoralpha.in/stocks/valiant-organics-ltd) ₹864 crore
6. [OCCL Ltd](https://www.sectoralpha.in/stocks/occl-ltd) ₹841 crore
7. [Fairchem Organics Ltd](https://www.sectoralpha.in/stocks/fairchem-organics-ltd) ₹801 crore

[All 20 Chemicals - Organic companies, largest first](https://www.sectoralpha.in/sectors/chemicals-organic#all-companies)

### Companies close in size in other industries

1. [Wealth First Portfolio Managers Ltd](https://www.sectoralpha.in/stocks/wealth-first-portfolio-managers-ltd) ₹868 crore · Finance - Capital Markets
2. [Synergy Green Industries Ltd](https://www.sectoralpha.in/stocks/synergy-green-industries-ltd) ₹866 crore · Castings, Forgings & Fastners
3. Indo Amines Ltd ₹865 crore
4. [Valiant Organics Ltd](https://www.sectoralpha.in/stocks/valiant-organics-ltd) ₹864 crore · Chemicals - Organic
5. [Dharmaj Crop Guard Ltd](https://www.sectoralpha.in/stocks/dharmaj-crop-guard-ltd) ₹862 crore · Pesticides/Agrochemicals

## What else do people ask about Indo Amines? ### What is Indo Amines's share price today? Indo Amines Ltd's share price is ₹124.35, −6.8% over the past year. The whole company is worth ₹904 Cr on the market. In the last 52 weeks it traded between ₹88 to ₹158; today it is 52% of the way up from the low, 3.4% below its 200-day average (as of 3 November 2026). ### What were Indo Amines's latest quarterly results? Indo Amines Ltd reported revenue of ₹375 Cr and net profit of ₹31.0 Cr for the Jun 2026 quarter. Revenue rose 30.2% and profit rose 6.9% compared with a year earlier. Earnings per share were ₹4.24. The operating margin was 14.0%, 3.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Indo Amines's market cap? Indo Amines Ltd's market capitalisation is ₹904 Cr at a share price of ₹124.35. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Indo Amines performing? Indo Amines Ltd's share price has been rising for 6 weeks. In its latest quarter, revenue rose 30.2% and profit rose 6.9% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 2 weeks running (as of 3 November 2026). ### Will Indo Amines's share price go up? This page does not forecast Indo Amines Ltd's share price. What it shows instead: the share price is ₹124.35, and it has been rising for 6 weeks. Its P/E of 11.1× is higher than 11% of its own last 11 years (as of 3 November 2026). ### Who owns Indo Amines? Promoters own 58.4% of Indo Amines Ltd, foreign institutions 0.2%, domestic institutions, and the public 41.4% (latest quarter). The biggest change over the last two years: Promoters raised their stake by 1.2 percentage points over 8 quarters (as of 3 November 2026). ### Does Indo Amines have too much debt? Indo Amines Ltd has a moderate amount of debt: its debt is 0.79× its equity, and its operating profit is 5 times its interest bill. FY26 borrowings were ₹311 Cr against equity of ₹392 Cr. Keep that borrowing in mind when reading the returns on this page (as of 3 November 2026). ### Where is Indo Amines in its business cycle? Indo Amines Ltd's FY26 operating margin was 11.0%, against a 13-year range of 7.0% to 13.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 14.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Indo Amines story? The main question: yearly earnings per share moved +41.0% while the share price moved −6.8%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Indo Amines a stock worth studying right now? What the numbers show: Indo Amines Ltd's results are improving, while its P/E is near the low end of its own history over 11 years, higher than only 11% of past readings. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Indo Amines share price forecast for 2026? What is changing at Indo Amines, from the latest results and calls: operating earnings improvement, operating cash supports reinvestment and differentiated product development. What would change the story: If production resumes or remains permitted but operating profit falls while receivable and inventory days continue to rise, the apparent recovery would be credit-funded growth rather than a durable improvement. ### Where does this page get Indo Amines' management information? From Indo Amines' results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- Multibagger study list: https://www.sectoralpha.in/multibagger-stocks-india
- Breakout stocks: https://www.sectoralpha.in/breakout-stocks-india

This is research, not advice. We’re not SEBI-registered.