BALAMINES

Balaji Amines Limited

Specialty chemicals manufacturer of amines and derivatives

Commodities›Chemicals›Chemicals & Petrochemicals›Specialty Chemicals

balajiamines.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹2067.00
Market cap
6,697 Cr
Stock P/E
32.7
P/B
3.39
Dividend yield
0.5%
ROE (FY26)
7.9%
ROCE (FY26)
10.4%
Operating margin (FY26)
14.7%
Debt / equity (FY26)
0.07
OCF / EBITDA (FY26)
69.3%
OCF / EBITDA (3Y)
80.2%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Balaji Amines makes methylamines, ethylamines and other amine-based specialty chemicals in India for pharmaceutical, agrochemical and industrial customers.

Company snapshot

20thBy market cap

Ranked among 68 companies in Specialty Chemicals.

Segment mix

Reportable segments as of 2024-12-31 (Standalone). Revenue share = segment revenue ÷ total revenue.

Largest segment: 98.4% of revenue

SegmentRevenue shareRevenuePBTAssets
Amines & Speciality Chemicals
98.4%
294 Cr43 Cr1,703 Cr
Hotel Division
3.2%
10 Cr3 Cr57 Cr
Unallocated
0.2%
0.63 Cr0.52 Cr11 Cr

Shares add up to 102% because segment revenues are before inter-segment eliminations.

What we see

Positives
  • ✓Debt-to-equity of 0.07x — the company is largely funded by its own money, not borrowed funds.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales381 Cr383 Cr414 Cr385 Cr347 Cr313 Cr353 Cr358 Cr341 Cr331 Cr395 Cr456 Cr
Operating expenses (approx.)327 Cr309 Cr316 Cr319 Cr286 Cr267 Cr293 Cr304 Cr281 Cr275 Cr301 Cr340 Cr
EBITDA54 Cr74 Cr98 Cr66 Cr61 Cr46 Cr60 Cr55 Cr60 Cr57 Cr94 Cr116 Cr
OPM %14.1%19.4%23.6%17.2%17.5%14.6%16.9%15.3%17.6%17.1%23.9%25.4%
Other income7 Cr8 Cr9 Cr8 Cr9 Cr8 Cr8 Cr9 Cr7 Cr5 Cr8 Cr6 Cr
Interest2 Cr2 Cr1 Cr0.99 Cr1 Cr0.80 Cr0.86 Cr0.73 Cr0.96 Cr2 Cr2 Cr1 Cr
Depreciation11 Cr11 Cr12 Cr12 Cr12 Cr12 Cr13 Cr14 Cr14 Cr14 Cr14 Cr14 Cr
Profit before tax48 Cr70 Cr93 Cr62 Cr57 Cr41 Cr54 Cr49 Cr52 Cr46 Cr86 Cr106 Cr
Tax %24.2%20.6%22.0%26.0%27.0%23.9%25.0%25.5%28.1%33.1%24.6%26.4%
Net profit36 Cr56 Cr72 Cr46 Cr41 Cr31 Cr40 Cr37 Cr37 Cr31 Cr65 Cr78 Cr
EPS (₹)₹10.71₹15.24₹21.00₹13.36₹12.65₹10.24₹12.36₹11.73₹10.67₹9.49₹19.99₹23.13

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales670 Cr877 Cr943 Cr936 Cr1,311 Cr2,320 Cr2,355 Cr1,642 Cr1,397 Cr1,425 CrSign in free for the trailing twelve months
Operating expenses (approx.)518 Cr688 Cr750 Cr755 Cr938 Cr1,690 Cr1,746 Cr1,318 Cr1,165 Cr1,160 CrSign in free for the trailing twelve months
EBITDA153 Cr189 Cr193 Cr181 Cr373 Cr630 Cr609 Cr324 Cr232 Cr265 CrSign in free for the trailing twelve months
OPM %22.8%21.6%20.5%19.3%28.5%27.2%25.9%19.7%16.6%18.6%Sign in free for the trailing twelve months
Other income5 Cr4 Cr4 Cr5 Cr6 Cr7 Cr15 Cr30 Cr33 Cr29 CrSign in free for the trailing twelve months
Interest13 Cr9 Cr13 Cr23 Cr18 Cr17 Cr12 Cr6 Cr4 Cr5 CrSign in free for the trailing twelve months
Depreciation20 Cr19 Cr20 Cr32 Cr34 Cr42 Cr46 Cr45 Cr48 Cr56 CrSign in free for the trailing twelve months
Profit before tax126 Cr166 Cr169 Cr135 Cr327 Cr578 Cr567 Cr302 Cr213 Cr232 CrSign in free for the trailing twelve months
Tax %34.5%31.8%30.6%28.0%25.4%27.7%28.4%23.0%25.6%27.2%Sign in free for the trailing twelve months
Net profit82 Cr113 Cr117 Cr97 Cr243 Cr418 Cr406 Cr232 Cr159 Cr169 CrSign in free for the trailing twelve months
EPS (₹)₹25.42₹34.92₹36.14₹32.34₹73.52₹113.71₹100.47₹63.22₹48.62₹51.60Sign in free for the trailing twelve months
Dividend payout %————0.8%3.1%4.8%13.9%22.5%21.1%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital6 Cr6 Cr6 Cr6 Cr6 Cr6 Cr6 Cr6 Cr6 Cr6 Cr
Reserves356 Cr461 Cr568 Cr652 Cr888 Cr1,243 Cr1,548 Cr1,715 Cr1,839 Cr1,970 Cr
Borrowings83 Cr142 Cr191 Cr241 Cr100 Cr73 Cr58 Cr20 Cr11 Cr133 Cr
Other liabilities190 Cr221 Cr263 Cr203 Cr301 Cr487 Cr207 Cr233 Cr223 Cr458 Cr
Total liabilities635 Cr848 Cr1,046 Cr1,113 Cr1,310 Cr1,875 Cr1,963 Cr2,146 Cr2,252 Cr2,743 Cr
Fixed assets (net)325 Cr316 Cr320 Cr573 Cr543 Cr681 Cr775 Cr891 Cr998 Cr1,035 Cr
CWIP25 Cr124 Cr269 Cr45 Cr173 Cr141 Cr113 Cr203 Cr234 Cr512 Cr
Investments0.01 Cr0.0050 Cr0.0005 Cr48 Cr0.0010 Cr0.0010 Cr78 Cr5 Cr5 Cr5 Cr
Inventories99 Cr89 Cr163 Cr110 Cr110 Cr222 Cr303 Cr287 Cr274 Cr247 Cr
Trade receivables124 Cr173 Cr167 Cr207 Cr306 Cr588 Cr378 Cr319 Cr275 Cr346 Cr
Cash & bank0.06 Cr0.02 Cr14 Cr4 Cr17 Cr33 Cr148 Cr81 Cr149 Cr74 Cr
Other assets61 Cr146 Cr112 Cr126 Cr161 Cr209 Cr168 Cr360 Cr317 Cr524 Cr
Total assets635 Cr848 Cr1,046 Cr1,113 Cr1,310 Cr1,875 Cr1,963 Cr2,146 Cr2,252 Cr2,743 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity60 Cr140 Cr94 Cr124 Cr110 Cr232 Cr382 Cr220 Cr255 Cr184 Cr
Cash from investing-10 Cr-128 Cr-119 Cr-128 Cr-62 Cr-134 Cr-186 Cr-160 Cr-139 Cr-344 Cr
Cash from financing-55 Cr16 Cr21 Cr-7 Cr-37 Cr-66 Cr-81 Cr-75 Cr-49 Cr85 Cr
Net cash flow-5 Cr28 Cr-4 Cr-12 Cr11 Cr32 Cr115 Cr-15 Cr68 Cr-75 Cr
Free cash flow (OCF − Capex)47 Cr29 Cr-76 Cr64 Cr-22 Cr84 Cr262 Cr-35 Cr69 Cr-186 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %31.1%27.9%23.2%17.4%34.2%42.9%33.0%16.1%10.7%10.4%
ROE %22.7%23.3%19.8%15.7%26.2%28.0%19.2%10.6%7.8%7.9%
Debtor days67726581859258717288
Inventory days1047011081656387114130111
Days payable54575744455018313338
Cash conversion cycle11785117118104105128154169161
OCF / EBITDA %39.6%73.9%48.7%68.6%29.4%36.9%62.7%67.8%110.0%69.3%
OCF / EBITDA % (3 years)——55.0%63.6%43.9%39.4%44.9%53.4%73.6%80.2%
Debt / equity0.230.300.330.370.110.060.040.010.00570.07
Current ratio——1.461.752.382.496.926.707.262.34
Net debt / EBITDA0.54—0.911.310.220.06-0.15-0.19-0.600.22