Balaji Amines Q1 Review – Capex Driven By End User Industry Demand: KRChoksey

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KRChoksey Research Report

During the quarter, Balaji Amines Ltd. reported robust revenue of Rs 6,702 million (up 48.70% YoY / down 13.97% QoQ). Such performance was mainly driven higher realisations from amines and specialty chemical segment (up 55% YoY).

On operational front Ebitda in Q1 FY23 stood at Rs 2,148 million (up 51.69% YoY / up 10.59% QoQ), operating profit margin improved by 63 basis points YoY and 712 bps QoQ to 32.05% in Q1 FY23.

Higher input costs kept the margins flattish on QoQ basis.

Balaji Amines’ net profit in Q1 FY23 stood at Rs 1,480 million showing an improvement of 51.95% on YoY basis and 13.15% on QoQ basis, with net profit margin at 22.08% (45 bps YoY / 529 bps QoQ).

Earnings per share during the quarter came at 37.95 against 27.90 in the same quarter last year.

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