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Revenue
Pending
verification pending
Revenue YoY
-1%
reported change
EBITDA
Pending
latest reported figure
Source
bse pending
record provenance
Actual signal trajectory
Where this quarter sits.
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What the record says.
Alkyl Amines reported a flat year for FY26, with revenue and volume both declining ~1% YoY, impacted by weak demand and raw material disruptions. The company maintained market share but faced headwinds from Chinese dumping in acetonitrile, though anti-dumping duties began to help in Q4. Management guided for 5-10% volume growth in FY27, supported by pharma demand and improved pricing post-war. The new Kurum project is delayed to Q2 FY27. Margins are expected to improve from cyclical lows, but competition in methylamines from new entrant RCF and potential demand destruction from higher prices remain risks. The company is cautious on capex, with only ₹80-90 crore planned for FY27, mostly maintenance and completion of existing projects.
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Guidance to track
- Management expects volume growth of 5-10% in FY27, in line with GDP growth, driven by pharma and improved acetonitrile demand.
- The new project at Kurum will achieve mechanical completion by end of June and commission in early Q2 FY27, slightly delayed from earlier guidance.
- Planned capex for FY27 is ₹80-90 crore, primarily for completing the Kurum project and maintenance; no major new projects yet.
Risks flagged
- RCF's new methylamine plant adds to industry overcapacity, potentially pressuring margins and utilization for all players.
- Sustained high product prices due to raw material inflation may eventually reduce demand, especially in price-sensitive segments.
- Balaji is setting up an 18,000-ton acetonitrile plant, which could increase competition and pressure pricing in that segment.
- Ammonia availability was disrupted in March due to the war; while resolved, future supply shocks remain a risk.
Key quotes
- We have seen the worst of times... I'm optimistic that we are likely to see better times in the future.
- The Chinese were not in the methylamines field... the competition was largely domestic.
- We have a policy that we do not talk about our R&D products till the product is in the market.
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