amit@unlistedkraft.in
+91-9599071664
+91-9599071664
Amol Minechem Ltd Unlisted Shares
DRHP Status : Not Filed
895
Fundamentals About Amol Minechem Ltd
Downloads & Investor Documents
All documents are provided for informational purposes and are subject to regulatory disclosures.
Key Financials of Amol Minechem Ltd
| P&L Statement | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | 4323 | 5780 | 6215 | 6292 |
| Cost of Material Consumed | 2274 | 2462 | 2444 | 2929 |
| Change in Inventory | -52 | -29 | 44 | -43 |
| Gross Margins | 47.4 | 57.4 | 60.68 | 54.13 |
| Employee Benefit Expenses | 610 | 591 | 687 | 1044 |
| Other Expenses | 1256 | 1882 | 1796 | 1920 |
| EBITDA | 235 | 874 | 1244 | 442 |
| OPM | 5.44 | 15.12 | 20.02 | 7.02 |
| Other Income | 389 | 381 | 565 | 529 |
| Finance Cost | 173 | 101 | 63 | 75 |
| D&A | 73 | 65 | 56 | 66 |
| EBIT | 162 | 809 | 1188 | 376 |
| EBIT Margins | 3.75 | 14 | 19.12 | 5.98 |
| PBT | 378 | 1089 | 1690 | 830 |
| PBT Margins | 8.74 | 18.84 | 27.19 | 13.19 |
| Tax | 96 | -197 | 506 | 208 |
| PAT | 282 | 1286 | 1184 | 622 |
| NPM | 6.52 | 22.25 | 19.05 | 9.89 |
| EPS | 41.65 | 157.02 | 144.57 | 75.94 |
| Financial Ratios | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating Profit Margin | 5.44 | 15.12 | 20.02 | 7.02 |
| Net Profit Margin | 6.52 | 22.25 | 19.05 | 9.89 |
| Earning Per Share (Diluted) | 41.65 | 157.02 | 144.57 | 75.94 |
| Assets | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Fixed Assets | 440 | 394 | 356 | 520 |
| CWIP | 0 | 0 | 0 | 0 |
| Investments | 144 | 220 | 354 | 392 |
| Trade Receivables | 974 | 877 | 1379 | 1295 |
| Inventory | 674 | 671 | 490 | 516 |
| Other Assets | 3667 | 4590 | 5298 | 5560 |
| Total Assets | 5899 | 6752 | 7877 | 8283 |
| Liabilities | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Share Capital | 67.7 | 81.9 | 81.9 | 81.91 |
| FV | 10 | 10 | 10 | 10 |
| Reserves | 3944 | 5140 | 6293 | 6849 |
| Borrowings | 1123 | 628 | 633 | 618 |
| Trade Payables | 597 | 703 | 434 | 413 |
| Other Liabilities | 167.3 | 199.1 | 435.1 | 121.09 |
| Total Liabilities | 5899 | 6752 | 7877 | 8083 |
About Company
The following table shows a 10-point analysis of Amol Minechem Limited. We will discuss each point in detail after this table.
| Parameter | Key Numbers | Insights |
|---|---|---|
| Business Overview | FY25 Revenue ~₹68 cr PAT ~₹8–12 cr range PAT margin ~12–18% |
Leading producer of perlite-based filter aids, expanded perlite products & insulation materials in India. Specializes in filtration aids for food/beverage, pharma, chemicals & industrial applications. Exports significant portion. Legacy company (since 1979) focused on quality & applications. Steady but modest scale operations. |
| Industry & Market Position | Dominant domestic player in perlite filter aids High barriers in specialty filtration |
Near-monopolistic in organized perlite products segment. Competitive edge via processing expertise & strong client relationships. Resilient demand from food/pharma industries but exposed to raw perlite availability, energy costs & global price fluctuations. |
| Revenue Growth Trend | FY23–FY25 CAGR ~1% FY25 Revenue ~₹68 cr |
Stagnant to modest growth reflecting stable demand but limited expansion. Core product maturity restricts upside. Long-term linked to industrial filtration growth, but no high-growth trajectory visible. |
| Profitability & Margins | EBITDA positive PAT margin ~12–18% Moderate ROE |
Healthy and stable margins driven by efficiency & cost control. Consistent profitability with low volatility and recurring demand base. Strong performance compared to many commodity-linked peers. |
| Cash Flow Quality | Positive OCF Dividend payouts noted |
Reliable operational cash flows. Low capex requirements post scale-up. Minimal working capital stress. Supports dividend distribution and reinvestment. |
| Balance Sheet Strength | Net worth ~₹64 cr D/E ~0.03 (near debt-free) |
Very conservative financial structure. Strong liquidity and asset base provide downside protection. Minimal leverage risk. |
| Valuation Comfort | Unlisted price ₹900–1,000 (Feb 2026) P/E ~6–12x Market cap ~₹74–82 cr P/B ~1.2x |
Attractive valuation for a stable, high-margin specialty chemicals business. Value-oriented pricing without speculative premium. |
| Management & Governance | Promoter-led Transparent disclosures |
Long operational track record in perlite processing. Clean governance standards with regular filings. No major governance concerns noted. |
| Growth Triggers & Catalysts | Industrial demand growth Export expansion Efficiency gains No confirmed IPO plans |
Organic upside from end-user demand recovery and product diversification. Incremental growth via cost optimization and capacity utilization. No near-term listing catalyst. |
| Liquidity & Exit Visibility | OTC liquidity only No confirmed IPO |
Moderate unlisted trading activity. Exit possible via OTC or strategic interest. Liquidity risk exists but business remains stable and defensive. |
Amol Minechem Limited (formerly Amol Dicalite Ltd.), established in 1979, is a manufacturing company specialising in perlite products and filter aids. It produces a wide range of perlite-based products including perlite ore, filter aid, cryogenic perlite, horticulture perlite and thermal insulation perlite.
The company also manufactures cotton and synthetic cloth products, and was among the first in India to make Perlite Filter Aids under a technical and financial collaboration with Grefco Inc., USA, a global leader in perlite products.
Business Model
Amol Minechem primarily earns through the manufacturing and sale of industrial perlite-based products used in insulation, filtration, horticulture and cryogenics. The company serves multiple industrial buyers who rely on perlite filter aids and insulation materials.
Manufacturing Facilities
Amol Minechem’s plant is located in Kadi, Mehsana district, around 50 km north of Ahmedabad, while its corporate office is located in Ahmedabad. The company focuses on producing high-quality perlite products using refined manufacturing processes.
Technology & Innovation
The company originally operated under a technical collaboration with Grefco Inc., USA, the global pioneer in perlite technologies. Although the collaboration ended in 2018–19, Amol Minechem continues to use its long-acquired technological expertise to produce efficient, high-performance filter aids.
Strategic Developments
In 2018–19, Grefco Inc., USA sold its entire shareholding to Indian promoters and was formally declassified as a promoter. A termination agreement was also executed to end the original perpetual Technology Agreement signed at incorporation.
Market Presence
Amol Minechem has built a strong presence across filtration and insulation applications, supplying to industries that require reliable import-substitute products. Over nearly four decades, it has become a trusted supplier for industrial buyers across India.
Risk Factors
This section outlines potential risks related to the company:
- Dependence on industrial and manufacturing sector demand
- Limited diversification beyond perlite and filter-aid products
- Competition from domestic and international manufacturers
- Raw material and energy cost fluctuations
Corporate Governance
Amol Minechem is now fully controlled by Indian promoters after the exit of Grefco Inc., USA in FY 2018–19. The company follows standard governance practices expected from long-standing industrial enterprises.
Dividend Policy
Dividend payouts depend on profitability and internal capital requirements. There is no fixed pattern publicly available for dividend distribution.
Past Corporate Milestones
The following are the past corporate milestones by Amol Minechem:
- 1979: Company incorporated
- 1982: Commercial production began
- 2018–19: Grefco Inc. exits, and the technology agreement is terminated
- 38+ years of consistent growth in perlite and filter-aid products
Shareholding Pattern of Amol Minechem Ltd
Latest News
Latest Post
Coming soon...
Coming soon...
Frequently Asked Questions
Amol Minechem primarily manufactures perlite-based products such as perlite filter aid, perlite ore, insulation perlite and horticulture perlite.
Amol Minechem began commercial production in 1982, marking its entry into the perlite and filter-aid manufacturing space.
Amol Minechem operates its manufacturing plant in Kadi, Mehsana district, and its corporate office is in Ahmedabad.
Yes, Amol Minechem initially had a technology and financial collaboration with Grefco Inc., USA, which later ended in 2018–19.
Industries involved in filtration, cryogenics, horticulture and thermal insulation commonly use Amol Minechem’s perlite and filter-aid products.
+91-9599071664
amit@unlistedkraft.in