Speciality chemicals maker Balaji Amines Ltd on Monday (November 2) reported a 94.7% year-on-year (YoY) increase in net profit to ₹67.3 crore for the second quarter of FY27, compared with ₹34.6 crore in the corresponding quarter last year.
Revenue rose 37.3% to ₹468 crore from ₹341 crore in the year-ago period.
Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 69.8% to ₹101.6 crore from ₹59.8 crore. EBITDA margin expanded to 21.7% from 17.6% a year earlier.
First Quarter Results
The chemical company posted a 33% drop in its net profit to ₹46 crore for the June quarter as against ₹68 crore in the same quarter a year ago. Revenue for the quarter declined 17% to ₹385 crore from ₹463 crore.
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Earnings before interest, tax, depreciation, and amortisation (EBITDA) dropped 31.5% to ₹66.6 crore from ₹97.2 crore year-on-year, with EBITDA margin contracting to 17.3% from 20.9%.
Managing Director Ram Reddy said that Balaji Amines reported a 5% year-over-year increase in volumes, though realisations were affected by a decline in raw material prices.
“We are actively managing these challenges and are confident in our ability to navigate through them while maintaining our profitability,” he said. The pharmaceutical market is showing encouraging signs of improvement, positioning the company well for future growth.
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Although the agrochemical market has experienced sluggish growth this quarter, Reddy anticipates improvements in the upcoming quarters as market conditions stabilise.
The capital expenditure projects of Balaji Amines are progressing as planned. “The commissioning of our methylamine plant is on schedule for Q3, and the Dimethyl ether project is expected to be completed by the end of this financial year. These projects are advancing as per the scheduled timelines and are set to significantly enhance our portfolio,” Reddy said.
Balaji Amines is a specialty chemical company engaged in the manufacturing of Methylamines, Ethylamines, Derivatives of Specialty Chemicals and Pharma Excipients. Besides, it has facilities for the manufacture of derivatives, which are downstream products for various Pharma /Pesticide industries, apart from user-specific requirements.
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Shares of Balaji Amines Ltd ended at ₹1,810.70, up by ₹46.55, or 2.64%, on the BSE.