Balaji‍‌‍‍‌‍‌‍‍‌ Amines Q2FY26 PAT At ₹37 Crore; To Invest ₹750 Crore In An Expansion Plan

Solapur, November 11, 2025: Balaji Amines Limited (BSE: 530999 | NSE: BALAMINES) reported its Q2FY26 results, with revenue from operations reaching ₹341 crore and net profit at ₹37 crore. The performance demonstrates stability despite subdued sectoral demand. EBITDA rose to ₹67 crore, translating to a 19% margin on a sequential basis, driven by a better product mix and enhanced operational efficiencies.

Quarterly and Half-Yearly Financial Performance

Total income for Q2FY26 stood at ₹348 crore, down from ₹367 crore in the previous quarter. The company posted an EBITDA of ₹67 crore, up from ₹64 crore in Q1FY26, while PAT remained steady at ₹37 crore. Compared to Q2FY25, PAT was 47% lower, as the previous year’s ₹70 crore profit was supported by stronger demand in pharma and agrochemicals. For the first half of FY26, revenue reached ₹715 crore, down from ₹749 crore in H1FY25, with PAT declining to ₹74 crore from ₹87 crore in the same period last year.

Overview of Segment Performance

The company has reported total sales volume for the quarter in question of 26,165 metric tonnes, with amines accounting for 7,685 MT, amine derivatives for 8,374 MT, and speciality chemicals for 10,107 MT. The company had its margins supported by both a better product mix and cost savings, even though there was a decline in the pharmaceutical value chain and export markets.

Balaji Amines announced a ₹750 crore expansion plan, focusing on a new subsidiary, Balaji Speciality Chemicals Limited, which would produce HCN, NaCN, and EDTA-based speciality products.

With the Maharashtra government recognising this as a “Mega Project,” the company plans to fund its phased rollout through internal accruals. Key milestones of the Capex plan include: the DME Plant (Unit IV) for aerosol and LPG replacement applications by FY26, a 5,000 TPA NMM unit, ACN process plant improvements by FY27, and two major projects Unit I (EDA derivatives) by September 2026 and Unit II (Greenfield Project at Chincholi) by December 2026.

Management Commentary

Despite global challenges and weaker demand in the pharma and agrochemical sectors, Managing Director D. Ram Reddy noted that most capacity expansions are progressing as planned. He expressed optimism for the upcoming quarters, expecting a business upturn driven by new projects, including electronic-grade DMC and pharma-grade propylene glycol, which support the country’s import substitution initiatives.

Stock Performance

The share price of Balaji Amines fell 5.27% to close at ₹1,293.70 on November 11, 2025, bringing its market capitalisation to ₹6,750 crore. Over the past week, the stock has declined nearly 10% (9.70%). The company’s price-to-earnings (PE) ratio stands at 29.76, compared with the industry average of 42.51.

Balaji Amines has been in business since 1988 and is ranked among the top manufacturers of Aliphatic Amines and Speciality Chemicals in India, which are used in various industries, such as pharmaceuticals, agrochemicals, paints, resins, and rubber. The company primarily caters to the pharmaceutical, agrochemical, and other chemical industries. The company is headquartered in Solapur (MH) and also has a corporate office in Hyderabad (Telangana).

REF: https://nsearchives.nseindia.com/corporate/BALAMINES_11112025160521_Press_Release_Signed.pdf

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