Consolidated sales volume soared 27.98% to 25,621 million tonnes (MT) in Q1 FY22 as compared to 20,019 million tonnes (MT) in Q1 FY21.

Consolidated profit before tax surged 211.19% to Rs 131.48 crore in Q1 FY22 as against Rs 42.25 crore in Q1 FY21. EBITDA for Q1 FY22 was at Rs 144.29 crore, recording a growth of 164.77% as compared to Rs 54.51 crore in Q1 FY21. EBITDA margin for Q1 FY22 was at 31.93% as against 24.31% in Q1 FY21. PAT margin improved to 21.55% in Q1 FY22 as against 14.09% in Q1 FY21. The Q1 earnings was declared post trading hours yesterday, 2 August 2021.

D. Ram Reddy, the managing director (MD), has commented that: "We continue to witness robust demand for our products from end-user industries. Our operations were not hampered much during the second wave of COVID-19 in India, as our products fall under essential category, with some of them also required in medications. Improvement in revenue was on account of additional income stream coming online with commencement of 16,500 tons Ethylamines plant under Phase 1 of our 90-acre Greenfield project (Unit IV) and improved capacity utilization. Our Ethylamines plant has achieved capacity utilization of over 90% in Q1 FY22 itself."

"The new plant of Ethylamines has led to lower cost of production due to new technology adopted by us. Now, along with the pre-existing capacity of 6,000 tons of Ethylamines, the company has the largest installed capacity of Ethylamines in India at 22,500 tons per annum. The construction of Di-Methyl Carbonate (DMC) plant is ongoing based on our scheduled timeline, and we expect the DMC plant to commence operations by end of FY22. We have decided to undertake capex of approximately Rs. 70 to 80 crore for additional Acetonitrile plant having capacity of 50 TPD (tonnes per day) at our 90-acre Greenfield Project (Unit IV). This plant is likely to get commissioned during FY23," Mr Reddy added.

Balaji Amines makes methylamines, ethylamines, derivatives of specialty chemicals and pharma excipients. The company is one of the leading manufacturers of aliphatic amines in India.

The scrip hit an all-time high at Rs 3,977 during intraday trade.