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Balaji Amines Ltd

₹ 1,2643.16%
14 Jan – close price
🔗balajiamines.com•BSE: 530999•NSE: BALAMINES
Market Cap₹ 4,097 Cr.
Current Price₹ 1,264
High / Low₹ 1,946
Stock P/E28.0
Book Value₹ 522
Dividend Yield0.87 %
ROCE13.2 %
ROE9.79 %
Face Value₹ 2.00
Sales₹ 1,249 Cr.
OPM17.3 %
Mar Cap₹ 4,097 Cr.

ABOUT

Balaji Amines Ltd specialises in manufacturing Methylamines, Ethylamines, Derivatives of specialty chemicals and Pharma Excipients. These have been the main products, it also have facilities for the manufacturing of derivatives, which are down-stream products for various pharma/pesticide industries apart from user specific requirements. It is one of the largest manufacturers of aliphatic amines in India.[1]

KEY POINTS

Market LeadershipThe company is the largest manufacturer of aliphatic amines and their derivatives in India and the sole producer of a few specialty chemicals.[1]

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsRevenue GuidanceAsset Base ExpansionCapacity Expansion And ProductsRevenue Guidance Vs ActualsCredit Rating UpdatesRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.Pidilite Inds.1495.3067.80152178.780.67584.608.363554.449.8829.8413817.5923.312244.67579.2315.9316.220.05
2.Gujarat Fluoroch3397.8054.8937324.830.09179.0047.931210.001.859.894864.0026.89680.00179.004.905.510.23
3.Navin Fluo.Intl.6032.0069.6130912.560.20148.37152.24758.4246.2611.682790.9627.91444.09148.378.586.270.33
4.Deepak Nitrite1564.0040.1421331.870.48118.75-38.871901.89-6.4016.287874.8611.16531.41118.713.879.860.23
5.Atul6020.0032.6917723.940.42182.3731.011551.8511.4212.815898.3216.11542.25179.243.007.480.03
6.Vinati Organics1596.3035.5916548.140.47129.0221.59546.27-1.2720.612258.6529.70464.92129.025.5713.640.00
7.BASF India3617.8040.7115659.880.55101.05-21.023904.04-8.0918.0214603.554.17384.69101.054.116.070.04
8.Balaji Amines1264.5027.964097.110.8731.45-22.15309.20-3.3613.211249.3717.30146.5431.452.428.710.00
–Median: 92 Co.285.126.88831.70.347.212.98134.385.6115.16512.2213.0926.077.242.77.910.11

Quarterly Results

Standalone figures in ₹ crores

Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales
451413347337325308367333320299322319309
Expenses
363357292286277250278274262248264263259
Operating Profit
88565552485889595852585650
Other Income
1244566565677
Profit before tax
81495147445685555447535245
Tax %
25%26%26%27%26%25%26%26%26%24%25%24%30%
Net Profit
61363834334263414036404031
EPS in Rs
18.7411.2411.6410.6410.0912.8219.3212.5112.4711.0212.2212.289.71

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
6086026326658589479181,2271,9141,7201,3301,2661,249
Expenses
5175005035136767537389011,4731,3911,0831,0401,033
Operating Profit
91102129151182193180327441330247226216
Other Income
332912510121810212326
Interest
3231201291312573222
Depreciation
16191818192024232931343843
Profit before tax
465693130166166154310423305232209197
Net Profit
34366186113118114232308228171156147
EPS in Rs
10.3511.2218.9126.4134.9336.4435.1171.5195.0470.2352.8748.2145.23
Dividend Payout %
10%11%11%8%7%8%9%6%6%14%21%23%–

Compounded Sales Growth

10 Years:8%
5 Years:7%
3 Years:-13%
TTM:-6%

Compounded Profit Growth

10 Years:16%
5 Years:7%
3 Years:-20%
TTM:-21%

Stock Price CAGR

10 Years:26%
5 Years:2%
3 Years:-20%
1 Year:-26%

Return on Equity

10 Years:19%
5 Years:18%
3 Years:13%
Last Year:10%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
6666666666666
Reserves
1962312853714615696618911,1861,3941,5281,6491,684
Borrowings
26223615910311595102000000
Other Liabilities
158129156175237327334394292151202195177
Total Liabilities
6216036076558199971,1041,2921,4841,5511,7361,8501,868
Fixed Assets
325321322309316318363344495604724833893
Gross Block
409.02421.90440.81444.81479.10500.49569.03572.48751.75881.881,032.681,179.18–
Accumulated Depreciation
83.94100.82118.52136.26163.04182.14205.63228.15256.72277.46308.90346.03–
CWIP
83162566634617314174143154137
Investments
2130303066661146666128666666
Other Assets
268249238292371550581708782745803797772
Total Assets
6216036076558199971,1041,2921,4841,5511,7361,8501,868

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
1116084721268914894176187217224
Cash from Investing Activity
-50-14-30-23-93-47-130-87-142-155-190-179
Cash from Financing Activity
-53-49-52-54-29-29-313-20-22-35-38
Net Cash Flow
7-32-5413-13101410-88

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
797069677364768183557271
Inventory Days
879362887010066566997127129
Days Payable
834657555658404357133534
Cash Conversion Cycle
8311774100871061029495139164166
Working Capital Days
-172631294646808098118117
ROCE %
18%19%24%30%33%29%23%38%41%24%16%13%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
53.70%53.71%53.71%53.71%53.71%53.71%53.71%53.71%53.71%54.62%54.59%54.59%
FIIs
4.39%4.45%4.55%4.52%4.58%4.92%5.05%5.27%5.16%5.09%5.00%4.53%
DIIs
0.37%0.34%0.18%0.90%1.43%1.48%1.59%1.79%1.66%1.48%1.46%1.52%
Public
41.53%41.50%41.57%40.88%40.31%39.91%39.67%39.23%39.46%38.83%38.96%39.37%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Balaji Amines Announces Senior Management Resignation

13th April 2026, 11:32 pm

Balaji Amines Limited intimates change in Internal Audit Firm

9th April 2026, 12:08 am

Balaji Amines Announces Trading Window Closure from April 1, 2026

28th March 2026, 9:50 pm

Balaji Amines Faces Plant Disruptions Due to Global Supply Chain Issues Affecting Raw Material Availability

12th March 2026, 10:20 pm

Balaji Amines Cancels Investor Meet Scheduled for March 13, 2026

9th March 2026, 9:30 pm

Published by Other Websites

External media mentions & references

Iran War Hits Chemical Supply Chains, Indian Firms Gain Import Edge

1st April 2026, 9:38 am

Sensex, Nifty Plunge; Worst Weekly Fall Since June 2022 Amid War Fears

13th March 2026, 4:08 pm

Balaji Amines Plummets 5% Amid West Asia Supply Chain Crisis

13th March 2026, 10:08 am

Balaji Amines Shares Slump 4% as Iran Conflict Halts Ammonia Supply

13th March 2026, 9:36 am

Market Movers: JK Lakshmi, Gravita India Lead Day's Corporate Action

13th March 2026, 7:32 am

News Articles

Editorial & research coverage

Indian Stocks Show Technical Bounce Amidst Divergent Fundamentals
Indian Stocks Show Technical Bounce Amidst Divergent Fundamentals

9th February 2026, 12:39 pm

Budget Schemes Boost India's Chemical & Pharma Sectors
Budget Schemes Boost India's Chemical & Pharma Sectors

1st February 2026, 4:35 pm

India-EU Pact: Long-Term Hope vs. Near-Term Hurdles
India-EU Pact: Long-Term Hope vs. Near-Term Hurdles

28th January 2026, 9:14 am

Balaji Amines Secures ₹258 Cr Subsidy for Maharashtra Expansion
Balaji Amines Secures ₹258 Cr Subsidy for Maharashtra Expansion

7th January 2026, 8:02 pm

Chemical Stocks in Freefall: 4 Giants Down Nearly 50%! China's Shadow or Market Glitch?
Chemical Stocks in Freefall: 4 Giants Down Nearly 50%! China's Shadow or Market Glitch?

2nd January 2026, 8:34 am

Documents

Announcements

Intimation Of Receipt Of Eligibility Certificate Under Package Scheme Of Incentives-2013.

7 Jan - Eligibility certificate for Unit-4; Rs.25800.87 Lakhs IPS; SGST, electricity duty, stamp exemptions (01/01/2024–31/12/2030).

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

6 Jan - Certificate under Reg 74(5) for quarter ended 31-Dec-2025; registrar Venture Capital & Corporate Investments.

Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011.
Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011.
Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011.

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

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Financial Year 2018

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Financial Year 2017

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Financial Year 2016

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Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from bse)

Financial Year 2012

(from bse)

Financial Year 2011

(from nse)

Credit Ratings

Rating update

13 Jun 2025 from fitch

Rating update

14 Mar 2024 from fitch

Rating update

22 Sep 2023 from fitch

Rating update

9 Jan 2023 from fitch

Rating update

12 Oct 2021 from fitch

Rating update

17 Feb 2021 from fitch

Concalls

Nov 2025

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Stock Analysis

Description

  1. Balaji Amines Ltd specialises in manufacturing Methylamines, Ethylamines, Derivatives of specialty chemicals, and Pharma Excipients. It is one of the largest manufacturers of aliphatic amines in India and also produces downstream derivatives for various industries.

Key Growth Triggers

  1. Eligibility Certificate received for Unit-4 expansion under the Package Scheme of Incentives-2013, making the company eligible for Industrial Promotion Subsidy (IPS) of ₹25,800.87 Lakhs, SGST tax benefits, Electricity Duty Exemption, and 100% Stamp Duty exemption for seven years (Jan 2024-Dec 2030).
  2. Ongoing expansion projects include DME, NMM, Acetonitrile, brownfield EDA, and greenfield HCN/NaCN/EDTA plants. A significant ₹750 Crore expansion at its subsidiary, Balaji Speciality Chemicals, has also received Mega Project status.
  3. Management anticipates an inflection point in H2 FY26 and projects 15% revenue/volume growth for FY27.

Order Book

  1. Currently no data available for Order Book.

Key Red Flags

  1. Recent Q1 and Q2 FY26 results showed year-on-year declines in Profit After Tax (PAT).
  2. The company received a legal summons concerning alleged violations under the Drugs and Cosmetics Act, although it stated there is no material financial impact expected.

Key Dates To Watch

  1. Trading window closure for Q3 FY26 results announced: From January 1, 2026.
  2. Board meeting for Q3 FY26 results approval to be intimated separately.

Corporate Announcements

13th Apr 26
Impact Rating: 3
Balaji Amines Limited informed exchanges about the resignation of Mr. Laxman Vishnudas Limkar, Senior Assistant General Manager and Factory Manager. The resignation is effective from April 11, 2026, accepted on April 13, 2026.
8th Apr 26
Impact Rating: 4
Balaji Amines Limited announced that its Internal Audit Firm has been reconstituted. The firm name changes from M/s. Pandhare & Co. to M/s. Pandhare Bhutada & Co. following the induction of new partners.
28th Mar 26
Impact Rating: 5
Balaji Amines announces a trading window closure for designated persons and relatives from April 1, 2026. It will reopen 48 hours after the declaration of its audited financial results for the quarter and year ended March 31, 2026.
12th Mar 26
Impact Rating: 8
Global supply chain disruptions have led to Ammonia unavailability, causing logistics issues and partial plant shutdowns at Balaji Amines. Financial impact is currently unestimatable.
9th Mar 26
Impact Rating: 4
Balaji Amines Limited has cancelled its investor and analyst event, including a plant visit and management meet, that was scheduled for March 13, 2026. The company cited unavoidable circumstances for the cancellation.