Balaji Amines Ltd. Results

Q2FY25 Quarterly Result Announced for Balaji Amines Ltd.

Specialty Chemicals company Balaji Amines announced Q2FY25 results Revenue from Operations for Q2FY25 stood at Rs 356 crore, as compared to Rs 393 crore in Q1FY25 Total volumes stood at 26,348 MT for Q2FY25 as against 28,071 MT in Q1FY25. For Q2FY25. Amines volumes stood at 7,616 MT. Amines Derivatives volumes stood at 8,685 MT. Specialty Chemicals volumes stood at 10,046 MT EBITDA for Q2FY25 was Rs 70 crore, as compared to Rs 74 crore in Q1FY25. EBITDA margin for Q2FY24 stood at 20% as against 19% in Q1FY25. PAT for Q2FY25 was Rs 41 crore as compared to Rs 46 crore in Q1FY25. Diluted EPS for Q2FY25 stood at Rs 12.65 per equity share as against Rs 13.36 in Q1FY25. On a standalone basis, we are a zero-debt company. D. Ram Reddy, Managing Director, said, “In the Q2 quarter, we reported a revenue of Rs 356 crore, achieving an EBITDA margin of 20%. This marks a 110-basis-point improvement over last quarter, reflecting our focus on higher margin products amid a challenging industry environment. While the broader market experienced pressure in Q2, both the API and agrochemical looks promising over a long term, and we are well-positioned to seize these future opportunities. With our expanded capacities and a sharpened focus on operational efficiency, we are confident in our ability to drive sustainable growth in the coming quarters. Our recent developments demonstrate significant progress in expanding our production capacity. With the successful commencement of Methylamines production at Unit-IV, our total annual installed capacity has increased from 48,000 MT to 88,000 MT across all three units. Additionally, Unit-I and Unit-III have achieved BIS Certification for 'Morpholine,' strengthening our quality standards and making us the only BIS-certified Morpholine manufacturer in India. Projects in Electronic Grade DMC, Propylene Glycol Pharma Grade, and Dimethyl Ether are also advancing well, reflecting our commitment to operational excellence. As we look forward, our strong foundation in core capabilities positions us well to navigate industry dynamics and capture growth opportunities. With a clear focus on our strengths, we are set to advance as a leader in Amines and Specialty Chemicals."

Q4FY24 Quarterly Result Announced for Balaji Amines Ltd.

Speciality Chemicals company Balaji Amines announced Q4FY24 results: Financial Highlights: Revenue from Operations for Q4FY24 stood at Rs 423 crore, as compared to Rs 392 crore in Q3FY24. Total volumes stood at 27,984 MT for Q4FY24 as against 26,903 MT in Q3FY24. For Q4FY24, Amines volumes stood at 8,910 MT Amines Derivatives volumes stood at 9,676 MT Specialty Chemicals volumes stood at 9,398 MT EBITDA for Q4FY24 was Rs 106 crore, as compared to Rs 83 crore in Q3FY24. EBITDA margin for Q4FY24 stood at 25% as against 21% in Q3FY24. PAT for Q4FY24 was Rs 72 crore as compared to Rs 56 crore in Q3FY24. Diluted EPS for Q4FY24 stood at Rs 21.00 per equity share as against Rs 15.24 in Q3FY24. On a standalone basis, it is a zero-debt company. On the performance, D. Ram Reddy, Managing Director, commented, “In Q4 & FY24, our financial and business highlights indicate a positive trajectory, with higher volume uptake, improved EBITDA and PAT margins driven by stabilised input costs(on both raw materials and utilities fronts) and a settling industry scenario. The rebound in domestic demand, coupled with encouraging international market trends, is contributing to this momentum and enhancing our margins. Recent developments include the successful commencement of n-Butylamines production at Unit-IV, boasting an annual installed capacity of 15,000 MT. Furthermore, Unit-I and Unit-III have received BIS Certification for 'Morpholine,' enhancing our product quality standards. Both Methylamine and Dimethyl Ether projects are progressing well, showcasing our commitment to operational excellence. Looking ahead, we maintain a positive outlook for long-term opportunities, anticipating growth and increased prospects in the fiscal year 2024- 25. Our focus on inherent strengths and competencies positions us as a leading force in Amines and Specialty Chemicals, guiding us through market complexities towards greater excellence.”

Q4FY23 Quarterly & FY23 Annual Result Announced for Balaji Amines Ltd.

Specialty Chemicals company Balaji Amines announced Q4FY23 & FY23 results: Consolidated Q4FY23: Revenue from Operations for Q4FY23 stood at Rs 476.90 crore, as compared to Rs 785.41 crore in Q4FY22. Total volumes stood at 26,505 MT for Q4FY23 as against 33,780 MT in Q4FY22. For Q4FY23, Amines volumes stood at 6,659 MT Amines Derivatives volumes stood at 8,607 MT Specialty Chemicals volumes stood at 11,239 MT EBITDA for Q4FY23 was Rs 98.63 crore, as compared to Rs 201.16 crore in Q4FY22. EBITDA margin for Q4FY23 stood at 20.68% as against 25.61% in Q4FY22. The fall in operating margin was primarily on account of degrowth in the pharma and API sector. PAT for Q4FY23 was Rs 55.21 crore, as compared to Rs 130.85 crore in Q4FY22. Diluted EPS for Q4FY23 stood at Rs 14.63 per equity share as against Rs 33.56 in Q4FY22. Consolidated FY23: Revenue from Operations for FY23 stood at Rs 2,370.64 crore, as compared to Rs 2,337.60 crore in FY22. Total volumes stood at 1,10,508 MT for FY23 as against 1,15,349 MT in FY22. For FY23, Amines volumes stood at 25,789 MT Amines Derivatives volumes stood at 33,091 MT Specialty Chemicals volumes stood at 51,628 MT EBITDA for FY23 was Rs 624.36 crore, as compared to Rs 637.39 crore in FY22. EBITDA margin for FY23 stood at 26.34% as against 27.27% in FY22. The fall in operating margin was primarily on account of degrowth in the pharma and API sector. PAT for FY23 was Rs 405.68 crore, as compared to Rs 417.90 crore in FY22. Diluted EPS for FY23 stood at Rs 100.47 per equity share as against Rs 113.71 in FY22. On the performance, D. Ram Reddy, Managing Director, commented, "Despite headwinds in pharma API and Agro industries globally, we have delivered decent results. The fall in the margins was primarily on account of degrowth in Pharma API and Agro sector. We believe the performance of the company will improve gradually in the coming months, we anticipate a return to growth & margin levels similar to those achieved before the onset of the COVID-19 pandemic in due course, which we think is sustainable. In the past years, we experienced exceptionally high realizations for certain products, driven by global circumstances that have since normalized. Our capex that we had planned was based on the normalized profitability and hence our company will not be impacted adversely by it. In fact, we maintain a positive outlook on the sector and firmly believe in prioritizing growth. We are confident that the products we manufacture have significant demand within India and can effectively substitute imported alternatives. Revenues from the new commenced plants such as DMC, PG, Ethylamines will start contributing to our top line from coming quarters, which in turn can improve the margin profile of the company from Q1FY24. In the long term we are confident of creating sustainable value for the stakeholders."

Q3FY23 Quarterly Result Announced for Balaji Amines Ltd.

Specialty chemical firm Balaji Amines announced Q3FY23 results: Consolidated Q3FY23 vs Q3FY22: Revenue from operations for Q3FY23 stood at Rs 588.47 crore, up by 3.48%, as compared to Rs 568.70 crore in Q3FY22. Total volumes stood at 28,147 MT for Q3FY23 as against 27,589 MT in Q3FY22. EBITDA for Q3FY23 was Rs 130.30 crore, as compared to Rs 158.98 crore in Q3FY22. EBITDA margin for Q3FY23 stood at 22.14% as against 27.96% in Q3FY22. The fall in operating margin was primarily on account of degrowth in the pharma and API sector. PAT for Q3FY23 was Rs 83.79 crore, as compared to Rs 101.59 crore in Q3FY22. Diluted EPS for Q3FY23 stood at Rs 19.31 per equity share as against Rs 27.64 in Q3FY22. Q3FY23: Amines volumes stood at 6,082 MT. Amines derivatives volumes stood at 8,587 MT. Specialty chemicals volumes stood at 13,478 MT. On the performance Mr. D. Ram Reddy, Managing Director, commented, despite headwinds in pharma and API industries globally, we have delivered decent results. The fall in the margins was primarily on account of degrowth in the pharma and API sector. Revenues from the newly commenced plants will start contributing to our top line in the coming quarters, which in turn can improve the margin profile of the company from Q1FY24. As announced earlier, Phase 1 of the 90-acre Greenfield Project (Unit IV) has been completed where Ethylamines Plant with an installed annual production capacity of 16,500 tons started commercial production in May 2021 and the DMC/PC and PG Plant started commercial production at the end of September 2022. This is with an installed annual production capacity of 15,000 tons of Di-methyl Carbonate (DMC)/Propylene Carbonate (PC) and 15,000 tons of Propylene Glycol (PG). We believe this will also provide a strategic advantage of being the sole manufacturer of Dimethyl Carbonate (DMC) and Propylene Carbonate (PC) in India. Currently, the annual domestic demand for Dimethyl Carbonate (DMC) is about 6,000 to 8,000 tons with main usage in Pharma and others Annual demand for Propylene Glycol (PG) is about 1,70,000 to 1,80,000 tons & Propylene Carbonate (PC) is about 3,000 to 4,000 tons which are completely met by imports. DMC is used in Pharma and in the production of Polycarbonate and Lithium Batteries – the consumption of which will exponentially grow in India backed by various government initiatives and the EV industry is a sunrise industry in the years to come.