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Balaji Amines Q1 FY27 Share Price & Earnings Call Analysis

₹1,848.80-0.54% today
Market cap
₹5,990 Cr
P/E
29.34
ROE
8.74%
PEG
-1.49
Price to sales
3.93
Debt to equity
0.07
52W high / low
₹2,567 / ₹977
Sales growth (5Y)
1.64%
EBITDA margin
21.45%
Net profit margin
11.91%
Promoter holding
54.56%
Sales (last year)
₹1,523 Cr

Incorporate in 1989, Balaji Amines Ltd is engaged in manufacturing of specialty chemicals, aliphatic amines, and derivatives, along with ownership of a five-star hotel in Solapur, Maharashtra.[1]

Guidance scorecard · Q1 FY27 call

What Balaji Amines's management guided
and where it ranks in Chemicals & Petrochemicals

#21of 71 in
Chemicals & Petrochemicals
Revenue20–40%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ4 FY26 call

20–40%
  • The company targets around 25% to 30% volume growth by end of FY27 compared to current levels.
  • For the current year, a conservative volume growth of 10% to 15% is expected.
  • Growth drivers include new products: Dimethyl Ether (DME), Acetonitrile (ACN), and N-Methyl Morpholine (NMM).
  • DME plant commissioning expected in Q1 FY27, with utilization likely at 30%-40% in the current year and up to 80%-90% in coming years.
  • Balaji Specialty Chemicals subsidiary is investing significantly, with INR 350-400 crores capex planned in phase 1, supporting expansion.
  • Revenue target of INR 3,000 crores by FY28, supported by expanded specialty product portfolio and DME.

2 more points from Balaji Amines's call on revenue

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Full Q4 FY26 analysis

MarginsQ4 FY26 call

Flat

See what Balaji Amines said on margins — free account, 30 seconds.

Full Q4 FY26 analysis

CapexQ4 FY26 call

Planned
  • Standalone capex for FY27: Around INR 20 crores balance for 3 products (DME, NMM, ACN), mostly already paid for equipment.
  • Balaji Specialty Chemicals subsidiary: Total Phase 1 capex INR 750 crores; INR 350-400 crores planned. For FY27, >INR 100 crores already spent, plus another INR 200-250 crores expected.
  • Greenfield and brownfield expansions ongoing; Phase 1 for greenfield partially in production (ethylamine, DMC) with modifications underway for specialty chemicals plant.
  • Dimethyl Ether (DME) plant: Commissioning expected in Q1 FY27, pending road transportation permission; capacity ramp-up projected reaching 50-60% by FY27-end, 80-90% in subsequent years.

2 more points from Balaji Amines's call on capex

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Full Q4 FY26 analysis

FundraisingQ4 FY26 call

See what Balaji Amines said on fundraising — free account, 30 seconds.

Full Q4 FY26 analysis

Order bookQ4 FY26 call

  • The company is in the process of expanding its product range with new products such as Dimethyl Ether (DME), Acetonitrile, and N-Methylmorpholine (NMM).
  • For DME, the plant is commissioned but awaiting road transport permission; production is ongoing, and once permission is granted, utilization is expected to increase to 30-40% in the current year and up to 80-90% in later years.
  • Prospective customers for DME have been approached, and trial shipments with 500 kg cylinders are underway to secure bulk orders.

2 more points from Balaji Amines's call on the order book

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Full Q4 FY26 analysis
Full Chemicals & Petrochemicals ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Chemicals & Petrochemicals
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Balaji Amines rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Chemicals & Petrochemicals companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 0–2%₹263 Cr3.4
240%+Flat₹4,375 Cr83.7
340%+Flat₹3,259 Cr4.0
440%+Flat₹145 Cr15.9
520–40%Up 2%+₹1.81L Cr90.9
620–40%Up 2%+₹48,366 Cr78.3

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Balaji Amines announcements

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Financials of Balaji Amines

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Balaji Amines

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +471464381383414385347313353358341331395
Expenses +378366327309316319286267293304281275301
Operating Profit93985474986661466055605794
OPM %20%21%14%19%24%17%17%15%17%15%18%17%24%
Other Income +6678989889758
Interest3222111111122
Depreciation11111111121212121314141414
Profit before tax85904870936257415449524686
Tax %35%25%24%21%22%26%27%24%25%25%28%33%25%
Net Profit +55683656724641314037373165
EPS in Rs14.6316.2710.7115.2421.0013.3612.6510.2412.3611.7310.679.7019.51

Financials of Balaji Amines

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +6166406688589409351,3082,3142,3461,6311,3891,425
Expenses +5155145196767477549351,6911,7361,3081,1571,160
Operating Profit102127149182193181373623609324232265
OPM %17%20%22%21%21%19%29%27%26%20%17%19%
Other Income +439124561515303329
Interest35221391323181712645
Depreciation201920192032344246454856
Profit before tax5188126166165131327578567302213232
Tax %35%34%34%32%29%26%25%28%28%23%26%27%
Net Profit +33588211311797243418406232159169
EPS in Rs10.2517.7825.4234.9336.2732.3473.51113.71100.4763.2248.6251.60
Dividend Payout %12%11%9%7%8%10%5%5%10%17%23%21%

Financials of Balaji Amines

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital666666666666
Reserves2212743564615686528881,2431,5481,7151,8391,970
Borrowings +256173105152227260127101582011133
Other Liabilities +139152168229244195289395351405396633
Total Liabilities6236056358481,0461,1131,3101,7451,9632,1462,2522,743
Fixed Assets +3413413253163205735436817808961,0031,043
CWIP3162512326946173141113205238512
Investments00000480073000
Other Assets +2782482844094574465949239961,0461,0111,188
Total Assets6236056358481,0461,1131,3101,7451,9632,1462,2522,743

Financials of Balaji Amines

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +56856014094144110220354334255184
Cash from Investing Activity +-4-29-10-135-119-130-62-147-210-274-139-344
Cash from Financing Activity +-55-54-551621-26-37-57-81-75-4985
Net Cash Flow-32-521-4-12111663-1568-75
Free Cash Flow48534732-7583-21722348270-10
CFO/OP65%77%58%101%74%108%40%56%81%123%128%82%

Financials of Balaji Amines

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days717168736581859359717289
Inventory Days114801067011677646689116128113
Days Payable485855566042445418313239
Cash Conversion Cycle1369311987120116104105129156168163
Working Capital Days7124231475588888911412069
ROCE %18%23%30%32%24%18%35%49%36%17%11%11%

Guidance history

How Balaji Amines's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q4 FY26 call →20–40%FlatPlanned——
Q2 FY26 call →10–20%FlatPlanned——
Q4 FY25 call →10–20%FlatPlannedNone planned—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

35out of 100

Momentum score · price trend

35 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+30.5%78%
Last 6 months+38.6%84%
Last 3 months−17.6%22%

The price is 61.2% below its all-time high of ₹4,761.25 (17 Sept 2021). Stocks more than 20% below their peak have their score halved, so 70 became 35.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Balaji Amines: 0.4 × 78 + 0.4 × 84 + 0.2 × 22 = 70, halved to 35 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Balaji Amines's management said in earlier quarters

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