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Balaji Amines spurts after restarting production at DMF plant

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Balaji Amines jumped 4.73% to Rs 3,311.65 after the company announced the commencement of production at DMF plant with effect from 23 November 2021.

On 6 October 2021, the company informed about a small incident that had taken place at its unit III demethylformamide (DMF) plant that lead to leakages/breakdown. While rectifying the incident, the company said it is adding some debottlenecking activities to increase capacity which may take two to three weeks' time.

The company on Tuesday informed that the production in the DMF plant has been started after carrying out all the rectifications.

Dimethylformamide (DMF) is a clear, colorless, hygroscopic liquid with a slight amine odor. DMF is widely used as a solvent, reagent and catalyst in the synthetic organic chemistry. It is also used as carrier for inks and dyes in various printing and fiber-dying applications

Balaji Amines makes methylamines, ethylamines, derivatives of specialty chemicals and pharma excipients. The company is one of the leading manufacturers of aliphatic amines in India.

The company's consolidated net profit fell 11.76% to Rs 79.75 crore on 16.65% increase in net sales to Rs 525.73 crore in Q2 FY22 over Q1 FY22.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, November 24 2021. 09:14 IST
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