Balaji Amines commences production of fungible products

Balaji Amines have started to manufacture fungible products, namely, Acetonitrile and THF. The company has already started the commercial production at its subsidiary plant and expect a gradual ramp up in the near future. It is also expecting an environmental clearance for its 90-acre Greenfield project in November 2019.

Recently, Balaji Amines came up with the financial numbers for the quarter ended September 30, 2019.

The revenue from operations for Q2FY20 stood at Rs. 230.4 crores as compared to Rs. 216.3 crores in Q2FY19 and Rs. 231.4 crores in Q1FY20. The total volume stood at 21,376 MT in Q2FY20 as against 17,426 MT in Q2FY19.

EBITDA for Q2FY20 was Rs. 45.7 crores as compared to Rs.  44.8 crores in Q2FY19 and Rs. 37.1 crores in Q1FY20. The EBITDA margin for Q2FY20 was at 19.8%.

PAT for Q2FY20 was Rs. 34.7 crores as compared to Rs. 31.0 crores in Q2FY19 and Rs. 20.0 crores in Q1FY20. The PAT margin for Q2FY20 stood at 15.1%.

Balaji Amines is mainly into the manufacturing of aliphatic Amines, specialty chemicals, methylamines, ethyl amines, derivatives of specialty chemicals, and natural products. It also runs a five-star hotel, named Balaji Sarovar Premiere.

Today, the stock of Balaji Amines opened at Rs. 325 and has made an intraday high of Rs. 338.95, up by 3.5% on the BSE.