Balaji Amines sees Q2 stability, outlines growth with new capacities

Balaji Amines Limited reported a stable performance for Q2 FY'26 and H1 FY'26, despite evolving demand dynamics in end-user sectors. Consolidated revenue for Q2 FY'26 stood at INR341 crores, a slight decrease from INR358 crores in Q1 FY'26. EBITDA for the quarter improved to INR67 crores, with margins rising to 19% from 17% in the previous quarter, and profit after tax remained steady at INR37 crores. For H1 FY'26, consolidated revenue reached INR715 crores, with an EBITDA of INR131 crores and a PAT of INR74 crores.

Total operational volumes for Q2 FY'26 were 26,165 metric tons, broadly consistent year-on-year, comprising 7,685 metric tons of amines, 8,374 metric tons of amines derivatives, and 10,107 metric tons of specialty chemicals. The company anticipates gradual improvement in operating performance, with new capacities from its DME plant, N-Methyl Morpholine, and acetonitrile expansion projects expected to be commissioned during FY2025-26 and FY2026-27. These projects are funded through internal accruals, reinforcing the company's debt-free status.

Balaji Specialty Chemicals Limited, a subsidiary, is progressing with its INR750 crores expansion plan, targeting commissioning by September 2026 for Unit 1 brownfield expansion and December 2026 for Unit 2 greenfield project. The company aims for at least 15% growth in the next financial year, driven by these operational expansions and a focus on high-value products and import substitution opportunities.