Balaji Amines Ltd
NSE:BALAMINES
Balaji Amines Ltd
Balaji Amines Ltd. manufactures, sells and exports methylamines, ethylamines and derivatives of specialty chemicals and pharma excipients in India. The company is headquartered in Secunderabad, Telangana and currently employs 1,071 full-time employees. The firm is running a five-star hotel in Solapur, Maharashtra, namely Balaji Sarovar Premiere. The firm operates through three segments: Specialty Chemicals and Amines, Hotel and CFL Lamps. Its amines products include MONOMETHYLAMINE (MMA), DIMETHYLAMINE (DMA) and TRIMETHYLAMINE (TMA). Its specialty chemicals include N-Methyl Pyrrolidone (NMP), Morpholine, 2-PYRROLIDONE (2-P), N-ETHYL-2-PYRROLIDONE, GAMMA-BUTYROLACTONE, ACETONITRILE (ACN) and DIMETHYLFORMAMIDE (DMF). Its derivatives include Di-Methyl Acetamide (DMAC), Di-Ethyl Amine Hydrochloride (DMA HCL), Tri-Ethyl Amine Hydrochloride (TEA HCL), Di-Ethyl Amine Hydrochloride (DEA HCL) and Tri-Methyl Amine Hydrochloride (TMA HCL). Its pharma excipients include POLY VINYL PYRROLIDONE(PVP-30) IP/BP/JP GRADE and POLY VINYL PYRROLIDONE(PVP-30)-TECHNICAL GRADE.
Balaji Amines Ltd. manufactures, sells and exports methylamines, ethylamines and derivatives of specialty chemicals and pharma excipients in India. The company is headquartered in Secunderabad, Telangana and currently employs 1,071 full-time employees. The firm is running a five-star hotel in Solapur, Maharashtra, namely Balaji Sarovar Premiere. The firm operates through three segments: Specialty Chemicals and Amines, Hotel and CFL Lamps. Its amines products include MONOMETHYLAMINE (MMA), DIMETHYLAMINE (DMA) and TRIMETHYLAMINE (TMA). Its specialty chemicals include N-Methyl Pyrrolidone (NMP), Morpholine, 2-PYRROLIDONE (2-P), N-ETHYL-2-PYRROLIDONE, GAMMA-BUTYROLACTONE, ACETONITRILE (ACN) and DIMETHYLFORMAMIDE (DMF). Its derivatives include Di-Methyl Acetamide (DMAC), Di-Ethyl Amine Hydrochloride (DMA HCL), Tri-Ethyl Amine Hydrochloride (TEA HCL), Di-Ethyl Amine Hydrochloride (DEA HCL) and Tri-Methyl Amine Hydrochloride (TMA HCL). Its pharma excipients include POLY VINYL PYRROLIDONE(PVP-30) IP/BP/JP GRADE and POLY VINYL PYRROLIDONE(PVP-30)-TECHNICAL GRADE.
Revenue Decline: Quarterly revenue dipped to INR 341 crores from INR 358 crores in Q1 FY '26, reflecting moderated demand in pharma and agrichem segments.
Margin Improvement: EBITDA margin rose to 19% in Q2 FY '26 from 17% in the previous quarter, despite challenging demand.
Stable Profit: Profit after tax held steady at INR 37 crores compared to last quarter.
Capacity Utilization: Most major plants are running below full utilization, especially for new segments like battery chemicals, due to delayed customer ramp-up.
Project Pipeline: Several new projects—including DME, DMC, NMP, and acetonitrile expansions—are on track for commissioning this year and next, promising future growth.
Volume Outlook: Management expects 8–10% volume growth in H2 FY '26 if approvals and customer ramp-up proceed as expected, but H1 saw a 1% YoY decline.
Financial Health: Company remains debt-free with stable working capital and no receivable/inventory issues reported.
