Balaji Amines Ltd

₹ 2,308 -0.79%
02 Feb 1:55 p.m.
balajiamines.com BSE: 530999 NSE : BALAMINES
About

Balaji Amines Ltd specialises in manufacturing Methylamines, Ethylamines, Derivatives of specialty chemicals and Pharma Excipients. These have been the main products, it also have facilities for the manufacturing of derivatives, which are down-stream products for various pharma/pesticide industries apart from user specific requirements. It is one of the largest manufacturers of aliphatic amines in India. [1]

Key Points

Product Portfolio[1]
The company has a diversified product portfolio with a basket of over 25 different products. These products are categorised under 3 main categories i.e. Amines, Amine derivatives and Specialty & Other chemicals. Its products includes Methyl Amines, Ethyl amines, Amino Ethanol, acetamide, amine hydrochloride, methyl urea, choline chloride, morpholine, etc.
Its products find application in many industries like Pharma, Agro, Rubber chemicals, photographic chemicals, rocket fuel, pesticides, solvents, performance chemicals, water treatment chemicals, etc.

Website BSE NSE
  • Market Cap ₹ 7,478 Cr.
  • Current Price ₹ 2,308
  • High / Low ₹ 3,844 / 2,250
  • Stock P/E 18.0
  • Book Value ₹ 446
  • Dividend Yield 0.26 %
  • ROCE 50.2 %
  • ROE 34.4 %
  • Face Value ₹ 2.00
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Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 35.5% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 28.5%

Cons

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Chemicals Industry: Chemicals

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
227 228 258 223 282 392 414 451 526 565 779 670 628
182 185 202 170 209 275 285 309 394 406 585 455 454
Operating Profit 45 43 56 53 74 117 129 142 131 159 194 215 173
OPM % 20% 19% 22% 24% 26% 30% 31% 31% 25% 28% 25% 32% 28%
1 1 2 1 1 1 4 3 3 1 5 5 3
Interest 7 6 6 4 5 5 4 3 4 5 5 3 3
Depreciation 8 8 10 8 9 9 8 10 11 10 11 11 11
Profit before tax 31 29 41 42 60 104 120 131 119 145 183 205 162
Tax % 8% 29% 28% 25% 26% 24% 26% 26% 26% 30% 29% 28% 27%
Net Profit 29 21 30 32 44 79 89 97 88 102 131 148 119
EPS in Rs 9.70 7.23 9.51 10.17 14.12 23.14 26.08 27.89 24.61 27.64 33.55 37.95 28.57
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
347 447 509 608 616 640 668 858 940 935 1,308 2,319 2,642
284 367 429 517 515 514 519 676 747 754 935 1,689 1,901
Operating Profit 63 81 80 91 102 127 149 182 193 181 373 630 741
OPM % 18% 18% 16% 15% 17% 20% 22% 21% 21% 19% 29% 27% 28%
2 4 4 3 4 3 9 12 4 5 6 7 13
Interest 14 21 25 32 35 22 13 9 13 23 18 17 16
Depreciation 8 10 13 16 20 19 20 19 20 32 34 42 43
Profit before tax 43 53 46 46 51 88 126 166 165 131 327 578 695
Tax % 38% 32% 32% 27% 35% 34% 34% 32% 29% 26% 25% 28%
Net Profit 27 36 31 34 33 58 82 113 117 97 243 418 499
EPS in Rs 8.21 11.00 9.62 10.34 10.25 17.78 25.42 34.93 36.27 32.34 73.51 113.71 127.71
Dividend Payout % 7% 7% 14% 10% 12% 11% 9% 7% 8% 10% 5% 5%
Compounded Sales Growth
10 Years: 18%
5 Years: 28%
3 Years: 35%
TTM: 48%
Compounded Profit Growth
10 Years: 27%
5 Years: 36%
3 Years: 47%
TTM: 26%
Stock Price CAGR
10 Years: 48%
5 Years: 30%
3 Years: 80%
1 Year: -31%
Return on Equity
10 Years: 26%
5 Years: 27%
3 Years: 29%
Last Year: 34%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
6 6 6 6 6 6 6 6 6 6 6 6 6
Reserves 106 139 165 195 221 274 356 461 568 652 888 1,243 1,438
165 216 209 262 256 173 105 152 227 260 127 101 111
88 105 139 158 139 152 168 229 244 195 289 524 500
Total Liabilities 365 466 519 620 623 605 635 848 1,046 1,113 1,310 1,875 2,056
160 196 234 325 341 341 325 316 320 573 543 681 784
CWIP 12 25 63 8 3 16 25 123 269 46 173 141 35
Investments 8 8 20 20 0 0 0 0 0 48 0 0 25
186 237 202 267 278 248 284 409 457 446 594 1,053 1,211
Total Assets 365 466 519 620 623 605 635 848 1,046 1,113 1,310 1,875 2,056

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
14 53 94 111 56 85 60 140 94 144 110 232
-59 -56 -86 -50 -4 -29 -10 -135 -119 -130 -62 -134
51 -1 -10 -53 -55 -54 -55 16 21 -26 -37 -66
Net Cash Flow 5 -5 -2 7 -3 2 -5 21 -4 -12 11 32

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 78 67 74 79 71 71 68 73 65 81 85 93
Inventory Days 134 149 66 87 114 80 106 70 116 77 64 66
Days Payable 64 48 42 83 48 58 55 56 60 42 44 53
Cash Conversion Cycle 148 168 99 83 136 93 119 87 120 116 104 106
Working Capital Days 111 121 75 67 95 70 78 74 89 102 91 93
ROCE % 24% 23% 19% 18% 18% 24% 30% 32% 25% 18% 35% 50%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
53.67 53.70 53.70 53.70 53.70 53.68 53.70 53.70 53.70 53.70 53.70 53.70
1.75 1.74 1.67 1.64 2.18 2.35 4.00 3.90 3.99 4.51 4.55 4.39
0.25 0.39 0.31 0.37 0.45 0.30 0.48 0.16 0.16 0.18 0.24 0.37
44.33 44.17 44.32 44.29 43.67 43.67 41.82 42.24 42.15 41.61 41.51 41.53

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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