Balaji Amines Ltd. — Earnings Release 2025

May 29, 2025

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29[th] May, 2025

To, The General Manager-Department of The Manager-Listing Department, Corporate Services, National Stock Exchange of India Limited, BSE Limited, "Exchange Plaza", 5[th] Floor, Phiroze Jeejeebhoy Towers, Plot No. C/1, G Block, Bandra-Kurla Complex, Dalal Street, Mumbai - 400 001. Bandra (East), Mumbai – 400 051.

Scrip Code : 530999

Symbol : BALAMINES

Dear Sir/Madam,

Sub.: Press Release in connection with Audited Financial Results for the Quarter and Year ended 31[st] March, 2025

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please enclosed herewith a copy of Press Release in connection with the Audited Financial Results for the Quarter and Year ended 31[st] March, 2025.

The aforesaid information is also being made available on the website of the Company at https://www.balajiamines.com/investor-relations.php.

This is for your information and records.

Thanking you.

Yours faithfully,

For Balaji Amines Limited

ABHIJEET Digitally signed by ABHIJEET KOTHADIYA KOTHADIYA Date: 2025.05.29 11:25:01 +05'45'

Abhijeet Kothadiya Company Secretary & Compliance Officer

Encl.: a/a

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For Immediate Release

Investor Release

Consolidated Q4FY25 Revenue stood at ₹ 361 Crore;

EBITDA stood at ₹ 68 Crore;

Net Profit stood at ₹ 40 Crore

Solapur, May 28, 2025 : Balaji Amines Limited (“Company”), a leading manufacturer of Aliphatic Amines & Speciality Chemicals in India, specialised in manufacturing of Methyl Amines, Ethyl Amines, Derivatives of Amines and other Specialty Chemicals, announced its audited financial results for the quarter and year ended March 31[st] , 2025.

Key Financial Highlights are as follows :

Particulars(₹ Cr.)		Standalone			Consolidated	Consolidated
	Q4FY25	Q4FY24	Q3FY25	Q4FY25	Q4FY24	Q3FY25
Total Income(Rs. Cr)	327	373	305	361	423	321
EBITDA(Rs. Cr)	64	95	57	68	106	54
EBITDA Margin(%)	20%	25%	19%	19%	25%	17%
PAT(Rs. Cr)	40	63	36	40	72	31
PAT Margin(%)	12%	17%	12%	11%	17%	10%
Cash PAT*(Rs. Cr)	51	77	49	43	90	47
Cash PAT Margin(%)	16%	21%	16%	12%	21%	15%
Sales Volume(in MT)	24,047	25,814	23,447	25,871	27,984	24,107

* [Cash PAT is PAT + Depreciation + Deferred tax]

Particulars(₹ Cr.)	Standalone	Standalone	Consolidated	Consolidated
	FY25	FY24	FY25	FY24
Total Income(Rs. Cr)	1,296	1,359	1,430	1,671
EBITDA(Rs. Cr)	249	267	265	353
EBITDA Margin(%)	19%	20%	19%	21%
PAT(Rs. Cr)	156	171	159	232
PAT Margin(%)	12%	13%	11%	14%
Cash PAT*(Rs. Cr)	204	213	206	284
Cash PAT Margin(%)	16%	16%	14%	17%
Sales Volume(in MT)	98,086	96,596	1,04,393	1,09,320

* [Cash PAT is PAT + Depreciation + Deferred tax]

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Standalone Performance Highlights for Q4FY25

Revenue from Operations for Q4FY25 stood at ₹ 327 crore, as compared to ₹ 305 crore in Q3FY25

Total volumes stood at 24,047 MT for Q4FY25 as against 23,447 MT in Q3FY25.

For Q4FY25,

• Amines volumes stood at 8,316 MT

• Amines Derivatives volumes stood at 8,389 MT

• Specialty Chemicals volumes stood at 7,342 MT

EBITDA for Q4FY25 was ₹ 64 crore, as compared to ₹ 57 crore in Q3FY25 and ₹ 95 crore in Q4FY24.

EBITDA margin for Q4FY25 stood at 20% as against 19% in Q3FY25 and 25% in Q4FY24.

PAT for Q4FY25 was ₹ 40 crore as compared to ₹ 36 crore in Q3FY25. Diluted EPS for Q4FY25 stood at ₹ 12.22 per equity share as against ₹ 11.01 in Q3FY25.

Consolidated Performance Highlights for Q4FY25

Revenue from Operations for Q4FY25 stood at ₹ 361 crore, as compared to ₹ 321 crore in Q3FY25

Total volumes stood at 25,871 MT for Q4FY25 as against 24,107 MT in Q3FY25.

For Q4FY25,

• Amines volumes stood at 8,316 MT

• Amines Derivatives volumes stood at 8,389 MT

• Specialty Chemicals volumes stood at 9,167 MT

EBITDA for Q4FY25 was ₹ 68 crore, as compared to ₹ 54 crore in Q3FY25 and ₹ 106 crore in Q4FY24.

EBITDA margin for Q4FY25 stood at 19% as against 17% in Q3FY25 and 25% in Q4FY24.

PAT for Q4FY25 was ₹ 40 crore as compared to ₹ 31 crore in Q3FY25. Diluted EPS for Q4FY25 stood at ₹ 12.36 per equity share as against ₹ 10.24 in Q3FY25.

On a standalone basis, we are a zero-debt company.

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Update on New Projects Commissioned and New Proposed Products/Projects

• Solar Power plan : First phase of Solar power plant of 8 MW DC(6 MW AC) is commissioned in April 2025. This will reduce the power bills of all the plants substantially in line with our commitment of Carbon emission reduction under ESG declarations.

• Electronic Grade Di Methyl Carbonate (DMC) : Existing DMC plant is added with new Equipment for ELectronic Grade DMC. The plant was commissioned successfully on 28[th] May, 2025. The Propylene Glycol Pharma grade plant is likely to be commissioned in Q1 FY 25-26.

• Di Methyl Ether : The plant is under construction and likely to be commissioned in this Financial Year 2025-26.

• N-Methyl Morpholine(NMM) : The NMM plant with a capacity of 15 MT/Day is under execution at Unit IV. Most of the equipment is ordered. The civil works are in progress. The plant is likely to be commissioned during the Financial Year 2025-26.

• Iso Propyl Amine : The company has modified the existing Ethyl Amines plant at Unit-I suitable to manufacture Iso Propyl Amines(MIPA/DIPA). The capacity of the plant will be around 20 to 21 Tons per day. Most of the existing equipment of the Ethyl Amines plant is being used. The plant is likely to be commissioned after receipt of Consent for Operations from MPCB.

• The company has taken up a project for upgradation of technology and increasing the capacity of existing ACN plant to a capacity of 60 MT/Day at Unit-III MIDC, Chincholi. The detailed engineering and ordering of critical and long delivery equipment are in progress and the plant is expected to be commissioned during the FY 2026-27.

New Projects

• The company is proposing to set up a plant for manufacture of N-(N-Butyl) Thiophosphoric Triamide(NBPT) with a capacity of 2500 TPA which will be taken up next Financial Year.

All the above projects are likely to be completed by using internal accruals.

New expansion of approx. Rs. 750 crs in Subsidiary Balaji Speciality Chemicals Limited

The Greenfield project for manufacture of Hydrogen Cyanide (HCN), Sodium Cyanide (NaCN) 30%(Solution), Sodium Cyanide (NaCN) 100%(Solid), Ethylene Diamine Tetra Acetic Acid (EDTA)/(EDTA-2Na), Benzyl Cyanide (BnCN), Phenylacetic Acid (PAA), and Tri Ethyl Ortho Formate (TEOF)/Tri Methyl Ortho Formate (TMOF) is under execution and is expected to be commissioned during the end of the FY 2025-26.

Further, the brownfield project for manufacture of EDA based products in the Unit - I is progressing as planned and the same is expected to be commissioned in the FY 2026-27.

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On the performance, Mr. D. Ram Reddy, Managing Director , commented, “During Q4 FY25, our business performance showed improvement compared to the rest of the financial year, supported by favorable global macroeconomic conditions. As volume uptake gradually increases, we expect EBITDA and PAT margins to improve in line with broader industry recovery trends. However, geopolitical tensions and tariff-related challenges across global markets may continue to impact growth across several sectors in which we operate. These factors have weighed on domestic demand, but we anticipate that better utilization of expanded capacities will support margin recovery in the coming quarters.

Pharmaceutical sector demand remained steady, contributing to base volumes, while the agrochemical segment exhibited volatility during the quarter. We continue to make progress on our strategic capex initiatives, including Electronic Grade DMC, Propylene Glycol Pharma Grade, and Dimethyl Ether projects, which are moving forward as planned.

On the sustainability front, we are pleased to announce that our 6 MW AC Solar Power Plant was commissioned on 2[nd] April, 2025. The plant is being brought online in a phased manner under Grid Connectivity, and the power generated will be utilized for captive consumption. Looking ahead, we remain focused on enhancing operational efficiencies, managing input costs and expanding our product portfolio to deliver sustained value to all stakeholders.”

About Balaji Amines Limited (BAL)

Balaji Amines Ltd (BAL), set up in 1988, is a leading manufacturer of Aliphatic Amines in India. Broadly, the company is specialised in manufacturing Methyl Amines, Ethyl Amines, Derivatives of Aliphatic Amines and Specialty Chemicals. Its business is broadly classified into three segments - Amines, Specialty Chemicals and Derivatives. BAL commenced manufacturing of Methyl Amines in 1990, and later added facilities of Ethyl Amines and other derivatives of Methyl amines and Ethyl amines. The company enjoys leadership position in many of its products like Monomethylamine (MMA), Dimethyl amine (DMA), Trimethylamine (TMA), Dimethyl Amino Ethanol (DMAE), Mono Methyl Amino Ethanol etc.

It caters to a host of industries like Pharma, Agro Chemicals, Paint Stripping & Resins, Rubber cleaning chemicals etc. The company has four state of the art manufacturing facilities – three near Solapur and one near Hyderabad. In addition, BAL possesses a fully furnished Laboratory which helps the company in development of newer products. A majority of its products are being exported to major customers worldwide and the company has become one of the leaders in Specialty Chemicals among the International Specialty Chemical players. The company also operates a 5-star hotel in Solapur – Balaji Sarovar. It has tied up with Sarovar group for management of this hotel. For more information, please visit www.balajiamines.com

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Safe Harbor Statement

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors.

Company	Investor Relations Advisors
Balaji Amines Limited CIN No: L24132MH1988PLC049387 Email id: cs@balajiamines.com	MUFG Intime India Private Limited Mr. Bhavya Shah : +91 80827 48577 bhavya.shah@in.mpms.mufg.com Mr. Chirag Bhatiya : +91 8104778836 chirag.bhatiya@in.mpms.mufg.com

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