Balaji Amines Ltd., a leading manufacturer of Aliphatic Amines in India has reported its financial results for the period ended March 31, 2020.
Q4 Results
The company’s net profit rose 16.5% to Rs 30.81 crores ($4.1 million) for the period ended March 31, 2020 as against Rs 26.45 crores ($3.5 million) for the period ended March 31, 2019.
Net sales increased by 14.2% to Rs 259.58 crores ($34.3 million) during the period ended March 31, 2020 as compared to Rs 227.38 crores ($30.1 million) during the period ended March 31, 2019.
“Despite the lockdown in the second half of the month of March 2020, we are pleased to have registered a robust growth with healthy operating margins. We witnessed increased demand across all our product categories with improved price realizations coupled with benign raw material prices. We are pleased to have maintained our annual EBITDA margin at 20%, despite recording sharp erosion in operating margins in the first quarter of FY20 on account of higher priced inventory from previous quarters,” said Mr. D. Ram Reddy, Managing Director.
Full-Year Results
The company’s net profit declined 10.8% to Rs 104.79 crores ($13.9 million) for the full-year period ended March 31, 2020 as against Rs 117.53 crores ($15.5 million) for the full-year period ended March 31, 2019.
The company has reported net sales of Rs 940.78 crores ($124.4 million) during the full-year period ended March 31, 2020, a 0.7% decline as compared to Rs 947.27 crores ($125.2 million) during the full-year period ended March 31, 2019.
Total volumes stood at 84,832 MT for the full-year 2019-20 as against 79,776 MT in 2018-19.
- Amines volumes stood at 18,669 MT
- Amines Derivatives volumes stood at 34,455 MT
- Specialty Chemicals volumes stood at 31,708 MT
The company’s phase-1 of 90-acre Greenfield Project, is likely to face delays in commencement, due to lockdown led stoppage in construction activities and postponement of shipment of essential machinery and equipments.