During the quarter ended December 2020, the company's sales volume grew by 33.9% to 28,353 MT from 21,160 MT in the same period last year. Amines volumes stood at 4,952 MT, Amines Derivatives volumes stood at 10,812 MT while Specialty Chemicals volumes stood at 12,589 MT in quarter ended December 2020.

EBITDA for Q3FY21 was Rs 98.77 crore as compared to Rs 45.81 crore in Q3FY20, posting a growth of 115.6%. EBITDA margin for Q3FY21 was at 26.92%, up by 647 basis points, compared with 20.45% in Q3FY20. The improvement in operating margins was primarily on account of improvement in operating leverage due to increase in volume offtake and better price realization.

Commenting on company's performance, D. Ram Reddy, MD of Balaji Amines said, “The trend of increased demand across our product portfolio continues as there is sustained growth of Indian pharma industry on account of ‘China Plus One' business strategy being adopted by western companies. The price realizations have also continued to remain healthy. We are also exporting few of our products like EDA, DETA from our subsidary and Morpholine to China, which previously used to get dumped in India. The prices of Dimethyl Formamide (DMF) have risen sharply because of supply-demand mismatch, leading to improved capacity utilization of our DMF plant. All our capex plans are on track. As part of Phase 1 of Greenfield Project, we are likely to commence manufacturing of Ethlylamines by end of FY21. We plan to commence the manufacturing of Dimethyl Carbonate (DMC) by the end of Q2FY22. Currently, our subsidiary company – Balaji Specialty Chemicals – which largely caters to end-user industry of agrochemicals, is gradually ramping up production and has an improved sales run-rate of about Rs 12.50 crore per month till Q3FY21. It is important to note that, the prices of finished products as well as raw material of the products of our subsidiary company have stabilised. The prospects of agrochemicals look robust on account of improved overall dynamics for agriculture sector in terms of highest water storage across reservoirs for last five years and increased acreage under cultivation. 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. Our endeavour remains to produce high-quality products which are import substitutes, for which we have been continuously undertaking expansions to reinforce our production capacity for future growth. We also plan to steadily expand our reach in the export market over medium to 3 long-term, given the eagerness of global companies to reduce their exposure to Chinese sources of suppliers."

Balaji Amines, set up in 1988, is a leading manufacturer of Aliphatic Amines in India. Broadly, the company is specialized in manufacturing Methyl Amines, Ethyl Amines, Derivatives of Specialty Chemicals and Natural Product and its business is broadly classified into three segments - Amines, Specialty Chemicals and Derivatives.