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Revenues up 15.7% over the sequential quarter
Hyderabad, July 20, 2007: The Board of Directors of Balaji Amines Limited (BAL) considered the un-audited financial results for the quarter ended 30 June 2007 at their meeting held today.
Commenting on financial results for the quarter, Mr. A. Prathap Reddy, Managing Director said, “Research for newer products has now become a regular feature and the Company is continuously engaged in identifying newer products which are extension of amines & New hi tech products and add value to our customers. The launch of Morpholine is first of its kind in India and we currently enjoy being the only player.
We posted net revenues of Rs. 492 million for the quarter, growth of 15.7% sequentially even after one of our major plants being shutdown for revamping. The operating margins improved marginally, but there is scope of improvement in the margins and the management is constantly looking at the same.
With the Methyl amines plant now functioning with increased capacity and increased traction amongst the methyl amine derivatives and specialty chemicals, we will meet the current demand as well as improve the captive consumption of various amines. Our products, both the traditional and newer continue to delight our customers.”
Highlights for the Quarter:
§The Company revamped its existing Methyl amines plant to improve capacity. The plant is now operating with an increased capacity by 30%.
§The Company has established Hydrogen plant in house to cater to the needs of captive requirement.
§Morpholine plant is fully stabilized and increased business traction is witnessed for the rest of the year
Hyderabad, July 20, 2007: The Board of Directors of Balaji Amines Limited (BAL) considered the un-audited financial results for the quarter ended 30 June 2007 at their meeting held today.
Commenting on financial results for the quarter, Mr. A. Prathap Reddy, Managing Director said, “Research for newer products has now become a regular feature and the Company is continuously engaged in identifying newer products which are extension of amines & New hi tech products and add value to our customers. The launch of Morpholine is first of its kind in India and we currently enjoy being the only player.
We posted net revenues of Rs. 492 million for the quarter, growth of 15.7% sequentially even after one of our major plants being shutdown for revamping. The operating margins improved marginally, but there is scope of improvement in the margins and the management is constantly looking at the same.
With the Methyl amines plant now functioning with increased capacity and increased traction amongst the methyl amine derivatives and specialty chemicals, we will meet the current demand as well as improve the captive consumption of various amines. Our products, both the traditional and newer continue to delight our customers.”
Highlights for the Quarter:
§The Company revamped its existing Methyl amines plant to improve capacity. The plant is now operating with an increased capacity by 30%.
§The Company has established Hydrogen plant in house to cater to the needs of captive requirement.
§Morpholine plant is fully stabilized and increased business traction is witnessed for the rest of the year
| Particulars | Q1 FY 07-08 |
Q4 FY 06-07 |
Var. % | Q1 FY 06-07 |
Var. % | FY 06-07 |
| Sales | 491.8 | 425.2 | 15.7% | 457.4 | 7.5% | 1755.1 |
| Operating Expenditure | 433.1 | 377.0 | 14.9% | 389.5 | 11.2% | 1503.2 |
| (Inc.) / Dec. in stock Raw Materials Staff Costs Power & Fuel Other Operating Exp. |
38.0 284.5 8.9 33.4 68.4 |
(57.0) 300.6 26.2 48.9 58.3 |
- (5.4%) (66.0%) (31.7%) 17.2% |
(16.7) 309.4 8.6 27.0 61.2 |
(8.0%) 3.5% 23.5% 11.7% |
(89.9) 1139.1 54.7 151.3 247.9 |
| Operating Profit | 58.7 | 48.3 | 21.6% | 68.0 | (13.7%) | 251.2 |
| Operating Margins | 11.93% | 11.35% | 14.86% | 14.35% | ||
| Depreciation | 10.2 | 8.7 | 17.6% | 9.3 | 9.8% | 37.3 |
| Financial Charges | 17.6 | 21.4 | (17.6%) | 12.7 | 38.4% | 61.8 |
| Other Income | 2.4 | (0.5) | 2.5 | 5.5 | ||
| Profit Before Tax | 33.3 | 17.8 | 87.4% | 48.5 | (31.3%) | 158.3 |
| Provision for Taxation | 2.5 | - | - | 58.2 | ||
| Profit After Taxes | 30.8 | 17.8 | 48.5 | 100.0 | ||
| Prior Period Items | - | 3.0 | - | 3.1 | ||
| Net Profit after Taxes & Prior Period Items | 30.8 | 20.8 | 48.5% | 48.5 | (36.4%) | 103.1 |
| Margins | 6.24% | 4.89% | 10.54% | 5.86% |
Financial Performance Overview:
(Rs. In Millions)
About Balaji Amines Limited:
Balaji Amines Limited is an ISO 9001 - 2000 accredited company with a unique positioning in the field of production of specialty chemicals & Aliphatic amines and its derivatives, addressing to the needs of pharma, agrochemicals, rubber chemicals, water treatment chemicals, Dye stuffs & Intermediate chemicals in color, Photography chemicals, Lube extraction in Oil Refineries and other industries in the Indian and global markets.
The Company operates from its facilities in Solapur, Maharashtra and Hyderabad, Andhra Pradesh with dedicated research and development centers which are continuously engaged in development of new amines and its derivatives. The Company has been instrumental in introducing several new products over the years.
www.balajiamines.com
For further information, please contact:
Mr. G. Hemanth Reddy
Director - Finance
Balaji Amines Limited
Ph: +91-40- 27898206
Email: ghr@balajiamines.com
Balaji Amines Limited is an ISO 9001 - 2000 accredited company with a unique positioning in the field of production of specialty chemicals & Aliphatic amines and its derivatives, addressing to the needs of pharma, agrochemicals, rubber chemicals, water treatment chemicals, Dye stuffs & Intermediate chemicals in color, Photography chemicals, Lube extraction in Oil Refineries and other industries in the Indian and global markets.
The Company operates from its facilities in Solapur, Maharashtra and Hyderabad, Andhra Pradesh with dedicated research and development centers which are continuously engaged in development of new amines and its derivatives. The Company has been instrumental in introducing several new products over the years.
www.balajiamines.com
For further information, please contact:
Mr. G. Hemanth Reddy
Director - Finance
Balaji Amines Limited
Ph: +91-40- 27898206
Email: ghr@balajiamines.com