-
ALSO READ
Board of Balaji Amines approves setting up of Acetonitrile plant
Board of Balaji Amines approves setting up of new plant to produce Acetonitrile
Balaji Amines slips after announcing closure of DMF plant
Balaji Amines Q4 PAT soars to Rs 89 cr
Balaji Amines spurts after Q1 FY22 PAT triples to Rs 97 cr, hits record high
-
Balaji Amines fell 6.71% to Rs 3563 after the company's consolidated net profit fell 11.76% to Rs 79.75 crore on 16.65% increase in net sales to Rs 525.73 crore in Q2 September 2021 over Q1 June 2021.
On a consolidated basis, profit before tax (PBT) fell 9.45% to Rs 119.05 crore in Q2 September 2021 over Q1 June 2021.On a year-on-year basis, Balaji Amines' net profit rose 74.28% and net sales rose 86.18% in Q2 September 2021 over Q2 September 2020. PBT jumped 99.38% during the said period.
EBITDA jumped 80.48% to Rs 134.26 crore in Q2 September 2021 over Q2 September 2020. EBITDA margin stood at 25.40% in Q2 September 2021 as against 26.28% in Q2 September 2020. The company's sales volume rose 11.22% YoY to 28,361 MT.
D. Ram Reddy, managing director commented, "Post the swift weakening of COVID-19 pandemic across India,the overall demand for our product basket remained healthy despite the temporary reduction in demand for certain products from pharmaceutical clients on account of Chinese API KSM unavailability due to challenges in ocean freight logistics.
The prices of some of the key raw material prices witnessed significant increase which impacted the operating margins of the business in the current quarter. However, the transition period of 3-4 weeks is now over, and we have started passing on the increase in cost prices to end customers. While anticipating favourable pricing and better product mix going ahead, we expect operating margins to inch upwards in the H2FY22, from the current levels.
We shall continue to witness improved demand across our product portfolio as the dependability on Indian pharma and agrochemicals industry increases on account of 'China Plus One' business strategy being adopted by western companies. Our thrust remains to expand our portfolio of key derivative products alongside entering newer specialty chemicals to gain from both vertical integration and operating efficiencies."
Balaji Amines is a leading manufacturer of aliphatic amines & speciality chemicals in India. It is specialized in manufacturing of methyl amines, ethyl amines, derivatives of amines and other specialty chemicals.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU