Alkyl Amines : trying to find more details

Your questions need too much crystal gazing, which is not my forte.However, I will share some additional facts.

Improved operating margins in FY20, FY21: Due to benign raw material price and better price realization. In those days, supplies from China were disturbed and the end customer (Pharma Industry) was doing well. Those margins were outlier, at least for the near term. 21~22% range would be the new normal.

Valuation: Valuations of this business (12~15% growth + B2B processor + Miniscule pricing power + continuous capacity required for growth) are nearing that of Page Industries. It became too popular, inferring from the shareholders count of the last 3 Yrs.

Small to large cap shift: The real question shall be ‘Would I make sufficient money in this position? I will not buy at these prices. However, It’s a compounder that can grow at 1.5x of GDP for a long term.