Balaji Amines Ltd has rallied 9 per cent to hit a new high of Rs 3,619 on the National Stock Exchange (NSE) in intra-day trade on Tuesday after the company reported robust numbers for the quarter ended June 2021 (Q1FY22), as consolidated profit after tax (PAT) more-than-doubled at Rs 97.40 crore. The company had posted a profit of Rs 31.58 crore in Q1FY21. In the past six months, the stock has zoomed nearly 200 per cent, as against a 5.6 per cent rise in the S&P BSE Sensex.

Balaji Amines is the leading manufacturer of aliphatic amines in India, specialized in manufacturing methylamines, ethyl amines, derivatives of amines and specialty chemicals.

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The company’s consolidated total income during the quarter under review grew 102 per cent year-on-year (YoY) at Rs 451.94 crore against Rs 224.19 crore in the corresponding quarter of the previous fiscal. Ebitda (earnings before interest, taxes, depreciation, and amortization) margin improved to 31.93 per cent from 24.31 per cent in the year-ago quarter. The stock performance during the quarter was led by robust demand for the company’s products from end-user industries.

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