Balaji Amines Share Price

Balaji Amines Limited is a chemicals company. One of the leading manufacturers of aliphatic amines in the country, it was set up in 1988. It is headquartered in Solapur, Maharashtra.

The market capitalisation of Balaji Amines Limited is over ₹8,100 crore as of January 9, 2023. The share price of Balaji Amines has gained over 120% in the last three years.

Business operations

Balaji Amines Limited manufactures methylamines, ethyl amines, derivatives of speciality chemicals and natural products. The company was established to meet the growing demand for value-based speciality chemicals. It produces downstream derivatives for various pharmaceutical and pesticide industries, as well as specific customer requirements.

Balaji Amines is the market leader in methyl amines products within India with a capacity of 48,000 MTPA. Approximately 80% of its production is dedicated to value-added products.

Its product range includes amines such as monomethylamine, dimethylamine, trimethylamine, monoethylamine, diethylamine, triethylamine, dimethyl amino ethanol, diethyl amino ethanol, and mono methyl amino ethanol. The company produces specialty chemicals like n-methyl pyrrolidone, morpholine and diethyl hydroxylamine.

Balaji Amines has a portfolio of approximately 30 products manufactured across its four state-of-the-art, fully automated manufacturing facilities in Maharashtra and Telangana. The company maintains a strong global presence, operating in over 60 countries worldwide. Its primary export markets include the USA, UK, Argentina, Latin America, Canada, Israel, Australia, Bangladesh, Germany, Italy, Egypt and South Africa.

In FY23, 15.12% of the total revenue, amounting to ₹260.94 crore, was generated from exports that spanned across continents.

The advanced manufacturing facilities of Balaji Amines are situated in Solapur and Osmanabad districts of Maharashtra) and Sangareddy district in Telangana). These facilities have cutting-edge technology, including digital computerised control systems. The company also has research and development facilities and laboratories supporting fundamental research and process refinement.

In FY23, Balaji Amines established Dimethyl carbonate/propylene carbonate and propylene glycol plants. These plants have a production capacity of 15,000 tonnes of di-methyl carbonate /propylene carbonate and 15,000 tonnes of propylene glycol.

The company also plans to establish a manufacturing facility capable of producing 15,000 MTPA of n-butyl amines. India's domestic requirement for n-butyl amines stood at 8,000 MTPA. Up until now, this demand has been fulfilled only through imports.

Balaji Amines also expanded its portfolio into the hospitality sector by establishing a 129-key hotel in Solapur, managed by the Sarovar Group. Spanning approximately 3 acres of land, the Balaji Sarovar Premier Hotel caters to pilgrims, tourists and business travellers. In FY23, the Balaji Sarovar Premier Hotel achieved a 69% occupancy rate and contributed 1.52% to its overall revenue.

Financial highlights

Balaji Amines Limited's revenue from operations for FY23 stood at ₹2,370.64 crore, up by 1.4%, as compared to ₹2,337.60 crore in FY22. The net profit after tax for FY23 was ₹405.68 crore compared to ₹417.90 crore during the previous year. In FY23, the earnings before interest, tax, depreciation and amortisation (EBITDA) decreased to ₹624.36 crore from the previous year's ₹637.39 crore. The company's earnings per share (EPS) stood at ₹100.47 in FY23 compared to ₹113.71 in FY22.