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Ami Organics: Europe plus one trend is taking hold

For the specialty chemicals business, Ami Organics is expanding on the clientele side and investing in process engineering

March 17, 2023 / 11:27 AM IST
Ami Organics: Europe plus one trend is taking hold

Overall, we are positive on Ami’s dominant presence in a few of the pharma intermediates and expertise in piperazine chemistry

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights Multi-year contract with Fermion adds to long-term revenue prospects Electrolyte additive business to add to FY24 top line Capex plan at Ankleshwar to multiply pharma products capacity Premium valuation justified by strong growth levers Ami Organics (CMP: Rs 905; Market Cap: Rs 3,313 crore) has shown a sequential pick-up in margins in the past few quarters in spite of high-cost inventory. Further, the pharma intermediate business continues to be steady and backed by committed orders. The chemicals business is on the mend and ready...

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