Balaji Amines jumps after strong Q4 earnings

Balaji Amines spurted 14.88% to Rs 47.10 at 11:20 IST on BSE after net profit surged 59.47% to Rs 9.09 crore on 21.21% growth in total income from operations to Rs 171.50 crore in Q4 March 2014 over Q4 March 2013.

The Q4 result was announced after market hours on Wednesday, 7 May 2014.

Meanwhile, the S&P BSE Sensex was up 73.35 points or 0.33% at 22,397.25.

On BSE, so far 55,000 shares were traded in the counter as against average daily volume of 7,145 shares in the past one quarter.

The stock hit a high of Rs 47.45 and a low of Rs 43 so far during the day. The stock had hit a 52-week high of Rs 54.80 on 3 December 2013. The stock had hit a 52-week low of Rs 28.40 on 21 August 2013.

The stock had underperformed the market over the past one month till 7 May 2014, sliding 0.85% compared with the Sensex's 0.09% fall. The scrip had also underperformed the market in past one quarter, jumping 5.94% as against Sensex's 9.56% rise.

The small-cap company has equity capital of Rs 6.48 crore. Face value per share is Rs 2.

Balaji Amines' net profit rose 7.53% to Rs 33.53 crore on 19.21% growth in total income from operations to Rs 610.13 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).

Balaji Amines manufactures methylamines, ethylamines, derivatives of specialty chemicals and natural products.

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