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Balaji Amines Ltd.

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balajiamines.comBSE: 530999NSE: BALAMINES
Market Cap₹ 7,373 Cr.
Current Price
High / Low₹ 2,630 / 968
Stock P/E36.1
Book Value₹ 634
Price to Book1.60
Dividend Yield0.48 %
ROCE12.0 %
ROE8.9 %
Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Amines: 97.5% • Hotel: 2.5%

AI Sector View

AI GENERATED

Chemicals

Hold

The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.

Confidence
55%
View full sector analysis →

PROS

  • Company is almost debt free
  • Company has consistently been profitable over the last 5 years
  • Latest quarter profit grew 113.9% YoY, showing strong momentum
  • Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.38x)
  • Company comfortably covers its interest (44.3x coverage)
  • Working capital cycle has improved - days down from 211 to 138

CONS

  • Receivables are growing faster than sales - a possible quality concern
  • Total debt has risen sharply - up 1153.2% year on year
  • Company has delivered a poor profit growth of -7.0% over past five years
  • Company has delivered a poor sales growth of 1.7% over past five years
  • Operating margins have contracted to 18.6% from 26.5%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ChemicalsChemicalsChemicals
Part ofNIFTY MICROCAP250NIFTY TOTAL MKT
S.No.Name
1.SOLARINDS22307.50101.37201860.690.05666.3788.983668.2070.2638.1627.91
2.PIDILITIND1567.4560.23159547.551.378835.101202.8645515.501112.7432.3826.28
3.SRF2483.0034.0573602.280.36758.8775.535033.2634.6314.2124.57
4.FLUOROCHEM4771.7585.2352417.670.06219.0019.021588.0023.979.5826.83
5.NAVINFLUOR8541.1055.4943822.770.18243.31107.671045.0844.0721.3934.17
6.GODREJIND1127.0032.2937963.110.00523.36-27.855448.0922.1610.6412.82
7.AETHER1672.9594.4122204.700.0062.7533.45326.5627.4911.6531.47
8.DEEPAKNTR1587.1027.6421646.940.47345.01207.362577.6036.3911.5820.96
9.ATUL6244.5523.1118385.050.48253.9391.851847.9525.0315.0521.41
10.AARTIIND492.1533.6217851.590.20155.00260.472387.0042.426.9516.00
11.DEEPAKFERT1320.4517.0016725.200.76490.04100.953256.2622.4712.1225.96
12.BALAMINES2275.5536.127373.010.4878.12113.86455.9327.2312.0025.41
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
464381383414385347313353358341331395456
366327309316319286267293304281275301355
Operating Profit985474986661466055605794101
OPM %21.14%14.13%19.36%23.60%17.18%17.49%14.62%16.91%15.26%17.56%17.11%23.87%22.08%
6789898897586
Interest2221111111221
Depreciation11111112121212131414141414
Profit before Tax904870936257415449524686106
Tax %25.11%24.24%20.63%21.98%26.01%27.04%23.84%25.03%25.48%28.14%33.12%24.56%26.45%
Net Profit0000464131403737316578
16.2810.7115.2421.0013.3612.6510.2412.3611.7310.679.4919.9923.13

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
6708619439361,3112,3232,3551,6421,3971,4251,523
5216797517589441,7001,7461,3181,1651,1601,211
Operating Profit149182192177368623609324232265311
OPM %22.24%21.14%20.31%18.97%28.06%26.81%25.86%19.72%16.62%18.63%20.45%
9126811151530332925
Interest13913231817126456
Depreciation2019203234424645485656
Profit before Tax126166165131327578567302213232290
Tax %34.48%31.75%29.06%25.65%25.44%27.73%28.43%22.97%25.62%27.24%27.25%
Net Profit8211311797243418406232159169211
EPS25.4234.9336.2732.3473.51113.71100.4763.2248.6251.60—
Dividend Payout %8.66%7.44%7.72%9.89%5.44%5.28%9.95%17.40%22.63%21.32%—

COMPOUNDED SALES GROWTH

10 Years:
8%
5 Years:
2%
3 Years:
-15%

COMPOUNDED PROFIT GROWTH

10 Years:
11%
5 Years:
-7%
3 Years:
-20%

STOCK PRICE CAGR

10 Years:
23%
5 Years:
-12%
3 Years:
1%
1 Year:
51%

RETURN ON EQUITY

10 Years:
22%
5 Years:
20%
3 Years:
11%
Last Year:
9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

2026

Jul 3

₹ 5.50

Rs.11.0000 per share(550%)Final Dividend

2025

Aug 1

₹ 5.50

Rs.11.0000 per share(550%)Final Dividend

2024

Jul 4

₹ 5.50

Rs.11.0000 per share(550%)Final Dividend

2023

Jul 3

₹ 5

Rs.10.0000 per share(500%)Final Dividend

2022

Jun 21

₹ 3

Rs.6.0000 per share(300%)Final Dividend

2021

Jul 29

₹ 2

Rs.4.0000 per share(200%)Final Dividend

2018

Aug 20

₹ 1.30

Rs.2.6000 per share(130%)Dividend

2017

Jul 20

₹ 1.10

Rs.2.2000 per share(110%)Dividend

2016

Jul 21

₹ 1

Rs.2.0000 per share(100%)Dividend

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital6666666666
Minority Interest01818101665144171173175
3564615686528881,2431,5481,7151,8391,970
891562072581217732123119
Trade Payables517285597718162786985
132135162127202172170163162387
Total Liabilities6358481,0461,1131,3101,7451,9632,1462,2522,743
3253163205735436767758919981,038
Capital Work in Progress2512326946173141113203234512
000480073000
9989163109110222303287274247
0000000319275346
Cash & Bank3242092052236340354271
182295273329465654463106117328
Total Assets6358481,0461,1131,3101,7451,9632,1462,2522,743

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
87183144196148350496334255184
Cash from Investing-10-135-119-130-62-147-210-274-139-344
Cash from Financing-551621-26-37-57-81-75-4985
-521-4-12111663-1568-75

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
53.7053.7053.7054.6254.5954.5954.5954.5954.56
5.055.275.165.095.004.533.302.983.17
1.591.791.661.481.461.521.531.461.58
Government0.000.000.000.000.000.000.000.000.00
39.6739.2439.4838.8238.9539.3740.5840.9740.69

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-12
Credit Rating

2026-09-12 - Balaji Amines Limited has informed the Exchange about Credit Rating

2026-09-02
Copy of Newspaper Publication

2026-09-02 - Balaji Amines Limited has informed the Exchange about Newspaper Advertisement Regarding Specials Window for Transfer and Dematerialisation of Physical Shares.

2026-08-17
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-17 - Balaji Amines Limited has informed the Exchange about Schedule of meet

2026-08-13
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-13 - Balaji Amines Limited has informed the Exchange about Schedule of Analysts/ Investors meet under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

2026-07-29
Investor Presentation

2026-07-29 - Balaji Amines Limited has informed the Exchange about Investor Presentation

2026-07-28
Copy of Newspaper Publication

2026-07-28 - Balaji Amines Limited has informed the Exchange about Copy of Newspaper Advertisement of extract of Standalone and Consolidated Un-Audited Financial Results of the Company for the Quarter ended 30th June, 2026 Published in Business Standard (English) and Divya Marathi (Marathi)

2026-07-27
Press Release

2026-07-27 - Balaji Amines Limited has informed the Exchange regarding Press Release in connection with Un- Audited Financial Results of the Company for the Quarter Ended 30th June, 2026.

2026-07-27
Outcome of Board Meeting

2026-07-27 - Balaji Amines Limited has submitted to the Exchange, Results for the Quarter Ended 30th June, 2026

2026-07-13
Shareholders meeting

2026-07-13 - Balaji Amines Limited has submitted the Exchange Outcome of the 38th Annual General Meeting of the Company held on Friday 10th July, 2026 at 12:00 (Noon) Through Video Conferencing (VC) or Other Audio Visual Means (OAVM) along with Scrutinizer's Report and Voting Results

News

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