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Indo Amines Limited (INDOAMIN) Fair Value & Analysis

Basic Materials · IN · Market cap ₹9.6B

IA Indo Amines Limited INDOAMIN · NSE
Price₹123.79
Fair Value₹156.96
Upside+26.8%
Quality49/100
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Expensive Growth
Thin margins · 6.8% net margin
Low debt · negative free cash flow
0.38% dividend yield
Ranks above peers (9/13)
Moderate moat 53/100
Evidence: High Range ₹117.72 – ₹204.40 Share as image

Fair value as of: Aug 13, 2026

From 17 valuation models · updated 4 days ago

Fair value updated Aug 13, 2026, revised from ₹162.15 to ₹156.96 (−3.2%) since Aug 6, 2026. Share price +0.7% over the past month.

Below-average quality, screening 27% undervalued on our models.

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What matters now

  • Solid quality (49/100) at a price below fair value, the discount is the argument here, not the business quality.
  • Our model range runs from ₹117.72 (bear) to ₹204.40 (bull), base ₹156.96. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 49/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (4 years)

₹241.39 ₹69.18 Fair Value ₹156.96 Apr 2022 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

52‑month range ₹69.18 – ₹241.39 · fair‑value band ₹117.72 – ₹204.40 · the ₹123.79 price screens below the ₹156.96 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Indo Amines Limited (INDOAMIN) currently trades at ₹123.79, while our model-based Fair Value estimate is ₹156.96, implying the stock looks roughly 26.8% undervalued today. The Quality Score stands at 49/100 (below-average quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Indo Amines Limited generated revenue of ₹11.6B at a net margin of 6.8%. Revenue grew 11.3% year over year. It earns a return on equity of 22.3%. Net debt stands at ₹2.9B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹117.72 (bear case) to ₹204.40 (bull case); at ₹123.79, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 30% below its 52-week high and 51% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -60% fair-value upside, at 27%, INDOAMIN screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income ₹70.99 ₹100.40 ₹517.48 76
ROIC Compounder ₹98.00 ₹138.36 ₹192.89 72
Gordon GGM ₹4.39 ₹8.75 ₹13.25 70
All 17 models by family
DCF Models
Owner Earnings ₹31.82 ₹68.94 ₹135.56 31
Earnings-Based
Graham-Dodd ₹74.31 ₹407.11 ₹564.75 54
Lynch FV ₹113.22 ₹161.74 ₹210.26 50
PEG = 1.0 ₹113.22 ₹161.74 ₹210.26 46
EPV ₹84.68 ₹99.41 ₹112.12 59
Dividend Discount
Gordon GGM ₹4.39 ₹8.75 ₹13.25 70
DDM Multi-Stage ₹4.39 ₹7.56 ₹9.24 61
Multiples
P/E Multiple ₹139.34 ₹185.78 ₹232.23 63
P/S Multiple ₹139.34 ₹185.78 ₹232.23 58
P/B Multiple ₹121.62 ₹162.15 ₹202.69 55
EV/EBIT ₹137.88 ₹186.71 ₹235.55 53
EV/EBITDA ₹118.23 ₹160.52 ₹202.80 54
EV/Revenue ₹118.35 ₹172.76 ₹227.18 43
Asset-Based
NCAV (Graham) ₹27.03 ₹36.21 ₹54.05 50
Economic Profit
Residual Income ₹70.99 ₹100.40 ₹517.48 76
ROIC Compounder ₹98.00 ₹138.36 ₹192.89 72
Growth Earnings
Growth-Adj P/E ₹148.93 ₹212.76 ₹276.59 68

Widest divergence: Growth Earnings (₹212.76) versus Dividend Discount (₹7.56). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹11.6B
Revenue growth (YoY) +11.3%
Net margin 6.8%
Return on equity 22.3%
Free cash flow −₹221M FY2026
P/E ratio 11.5
More key figures
Operating margin 9.0%
EPS (TTM) ₹10.79
Dividend yield 0.4%
EPS growth (YoY) +76.0%
Net debt ₹2.9B FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 48 · Market factors (momentum, volatility) 46

Profitability 66
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 13
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 34
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 30
Distance to the 52-week high (market factor)
Net Issuance 81
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Indo Amines Limited engages in the manufacture, distribution, and sale of fine, performance, and specialty chemicals in India and internationally.

Full company description

Indo Amines Limited engages in the manufacture, distribution, and sale of fine, performance, and specialty chemicals in India and internationally. The company's fine chemicals comprise aliphatic and aromatic amines, aliphatic and aromatic nitriles, halides, alcohols, cycloalkanols, cycloalkanones, acids and esters, advanced intermediates, amine hydrochlorides, ethanol amines, and other products. Its specialty chemicals include fatty acids, amides, amines, di-amines, tertiary amines, polyamines, amine ethoxylates, and ammonium quats. The company's performance chemicals comprise anticaking, antifoaming, antistatic, antistripping, antibacterial/antislime, and floatation agents, as well as granulating aids, defoamers, emulsifiers, curing aids, bitumen emulsifiers, corrosion inhibitors, demulsifiers, and antibacterial products. Its products are used in pharmaceuticals, agrochemicals, fertilizers, petrochemicals, perfumery chemicals, road construction, pesticides, dyes and intermediates, water treatment chemicals, oil field chemicals, mining, paints, pigments, polymers, metal working and lubricants, additives, textile processing chemicals, cosmetics, home and personal care, printing inks, rubber chemicals, surfactants, etc. The company was incorporated in 1992 and is based in Thane, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Indo Amines Limited reported revenue of ₹11.6B in FY2026 versus ₹7.8B in FY2022, a compound +10.5%/yr. Reported net income was ₹793M in FY2026, compounding +36.2%/yr from FY2022.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹11.6B
Latest YoY
+7.5%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+7.2%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+16.8%
Avg. growth/yr (18Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+14.9%
Revenue +10.5%/yr
FY22 ₹7.8B
FY23 ₹9.4B
FY24 ₹9.4B
FY25 ₹10.8B
FY26 ₹11.6B
Net income +36.2%/yr
FY22 ₹230M
FY23 ₹409M
FY24 ₹428M
FY25 ₹559M
FY26 ₹793M
Character of growth · EPS growth decomposed (2015-2026) +20.3 % p.a.
Revenue per share +15.8 pp

of which total revenue +17.1 pp · buybacks/dilution −1.3 pp

EBIT margin +1.7 pp
Tax rate +1.1 pp
Residual (interest, one-offs) +1.7 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Indo Amines Limited Fair Value". https://www.fairvalue-calculator.com/stock/INDOAMIN

Peer Group

Chemicals · 332 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 49 · Below median
Fair Value upside +27% · Top 25%
Return on equity (TTM) 22% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 7% · Above median
Operating margin (TTM) 9% · Above median
Revenue growth 11% · Above median
Dividend yield (TTM) 0.4% · Bottom 25%
Debt / equity 0.22× · Higher than median

Valuation Multiples vs Chemicals median · lower = cheaper

P/E (TTM) 11.5× · Cheaper than 75% of peers
P/B 2.45× · Pricier than median
P/S (TTM) 0.83× · Cheaper than median
EV/EBITDA 8.3× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 69 · sector 0
FUTURE 57 · sector 20
PAST 89 · sector 20
HEALTH 89 · sector 94
DIVIDEND 8 · sector 33

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
BASF SE BASN 1,034 MXN 467.04 MXN -55%
PT Barito Pacific Tbk, BRPT 1,950 IDR 1,608 IDR -18%
LG Chem, Ltd 051910 275,500 KRW 587,755 KRW +113%
SRF Limited 503806 ₹2,609 ₹749.17 -71%
542812 542812 ₹4,709 ₹791.05 -83%
Navin Fluorine International Limited NAVINFLUOR ₹8,357 ₹2,146 -74%
523642 523642 ₹2,484 ₹1,745 -30%
506285 506285 ₹4,048 ₹1,589 -61%
Kansai Nerolac Paints Limited 500165 ₹209.25 ₹80.51 -62%
Deepak Nitrite Limited DEEPAKNTR ₹1,718 ₹679.17 -60%

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Frequently asked questions

Is Indo Amines Limited (INDOAMIN) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹156.96 versus a price of ₹123.79, about +27% (undervalued).
What is the fair value of INDOAMIN?
Our model-based fair value for Indo Amines Limited is ₹156.96 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹123.79.
What is the quality score of INDOAMIN?
Indo Amines Limited has a Quality Score of 49/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Indo Amines Limited (INDOAMIN)?
Indo Amines Limited reported trailing-twelve-month revenue of about ₹11.6B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of INDOAMIN?
The net profit margin of Indo Amines Limited is about 6.8%, meaning it keeps roughly 6.8% of revenue as net income. Based on the latest reported figures.
Does Indo Amines Limited pay a dividend?
Indo Amines Limited currently shows a dividend yield of about 0.38% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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