Balaji Amines posts 31% jump in exports

Balaji Amines listed on NSE and BSE, One of the biggest chemicals exporter to European countries has increased the net sales of Rs. 218.69 crores, in the first half of this accounting year. This turnover is 28.53% more than the same period next year. Last Year the same quarter the turnover was Rs. 170.14 Crores.

Further, the company has registered the net profit of Rs. 17.79 Crores. during first half of this fiscal.  This profit is 10% more than the same period of the last fiscal.  During the first half of the previous year the net profit was registered at Rs. 16.21 Crores.

Commenting on the results D Ram Reddy, Director Commercials of Balaji Amines Ltd. said, “The company has managed to put a good show in the current quarter. With the plans of capacity expansion in couple of years the future looks bright. We thank our investors for the continuous support and faith shown on us.”

Key Operating Highlights:

• Recorded net sales of Rs.218.69 Crores for the half year ended 30th September, 2011.  Net Sales increased by around 28.53% for the period over the previous years’ first half of Rs. 170.14 Cr.
• Profit After Tax increased by around 10 % over previous half years’ Rs. 16.21 Crore to Rs. 17.79 Crore for the current year’s first half.
• Exports during the period   ending 30.9.2011  have  gone up by 31% from Rs. 41.63  Crore   of previous year  2010-11   to Rs. 54.58  Crore  for first half year during current year 2011-12

Additional information:     

During the current year the followin  expansion  projects have  been   taken up.

• New project for manufacture of Methyl Amines with a capacity of 100 Tons/Day, Dimethyl Formamide with a capacity of 70 Tons/Day and Dimethylamine Hydrochloride with a capacity of 36 Tons/Day has been kicked off and is being executed as per schedule.
• Drug Master File applications have been successfully filed both with US FDA and EU Authorities for our new product Pharmapure Povidone (Polyvinyl Pyrrolidone K-30).
• Construction is in full swing for development of 100 Room Hotel property at Solapur to be operational by mid 2013.  A formal agreement with SAROVAR Group of Hotels has been entered for operating / managing the Hotel property in the name of BALAJI SAROVAR PREMIER.