Balaji Amines

₹2180 -4.4 | 0.2%

WEBSITE BSE:530999 NSE : BALAJI AMINE 10 May, 16:01

Market Cap ₹7063 Cr.

Stock P/E 34.5

P/B 4.1

Current Price ₹2180

Book Value ₹ 531.4

Face Value 2

52W High ₹2736.4

Dividend Yield 0.5%

52W Low ₹ 1872.9

Edit Ratio

Balaji Amines Research see more...

Overview Inc. Year: 1988Industry: Chemicals

Balaji Amines Ltd is an totally India-based organisation, that's engaged in the production of Aliphatic Amines, their derivatives and speciality chemical substances. The Company is running a 5 star hotel, Balaji Sarovar Premiere. It operates thru segments: Amines & Speciality Chemicals, and Hotel. The Company manufactures methylamines, ethylamines, derivatives of speciality chemical compounds and natural merchandise. Its amines merchandise include MONOMETHYLAMINE (MMA), DIMETHYLAMINE (DMA) and TRIMETHYLAMINE (TMA). Its speciality chemical compounds consist of N-Methyl Pyrrolidone (NMP), Morpholine, 2-PYRROLIDONE (2-P), N-ETHYL-2-PYRROLIDONE, GAMMA-BUTYROLACTONE, POLYVINYLPYRROLIDONE K 30 and DIMETHYLFORMAMIDE (DMF). Its derivatives include Di-Ethyl Amine Hydrochloride (DMA HCL), Di-Methyl Acetamide (DMAC), Di-Methyl Urea (DMU) and Tri-Methyl Amine Hydrochloride (TMA HCL). Its subsidiaries encompass Bhagyanagar Chemicals Ltd and Balaji Greentech Products Ltd.

Balaji Amines Share Price

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Peer Comparison

Balaji Amines Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Net Sales	565	780	670	628	586	471	464	381	383	414
Other Income	4	5	5	3	3	6	6	7	8	9
Total Income	569	785	675	630	588	477	469	387	392	423
Total Expenditure	410	584	455	454	458	378	366	327	309	316
Operating Profit	159	201	219	176	130	99	104	61	83	106
Interest	4	7	3	3	3	3	2	2	2	1
Depreciation	10	11	11	11	12	11	11	11	11	12
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	145	183	205	162	115	85	90	48	70	93
Provision for Tax	43	52	57	43	31	30	23	12	14	20
Profit After Tax	102	131	148	119	84	55	68	36	56	72
Adjustments	-12	-22	-25	-26	-21	-8	-15	-2	-6	-4
Profit After Adjustments	90	109	123	93	63	47	53	35	49	68
Adjusted Earnings Per Share	27.6	33.6	38	28.6	19.3	14.6	16.3	10.7	15.2	21

Balaji Amines Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	512	610	619	643	670	861	943	936	1311	2323	2355	1642
Other Income	5	6	4	6	9	12	6	8	11	15	15	30
Total Income	516	616	623	649	679	873	949	944	1323	2338	2371	1671
Total Expenditure	432	523	517	520	521	679	751	758	944	1700	1746	1318
Operating Profit	84	94	106	129	158	194	198	186	379	637	624	354
Interest	25	32	35	22	13	9	13	23	18	17	12	7
Depreciation	13	16	20	19	20	19	20	32	34	42	46	45
Exceptional Income / Expenses	0	0	0	0	1	1	0	0	0	0	0	0
Profit Before Tax	46	46	51	88	126	166	165	131	327	578	567	301
Provision for Tax	15	12	18	30	43	53	48	34	83	160	161	69
Profit After Tax	31	34	33	58	82	113	117	97	243	418	406	232
Adjustments	0	0	1	0	0	0	0	7	-5	-49	-80	-27
Profit After Adjustments	31	34	34	58	82	113	118	105	238	368	326	205
Adjusted Earnings Per Share	9.6	10.3	10.6	17.8	25.4	34.9	36.3	32.3	73.5	113.7	100.5	63.2

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	1%	36%	22%	16%
Operating Profit CAGR	-2%	50%	26%	22%
PAT CAGR	-3%	61%	29%	29%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-7%	-2%	39%	48%
ROE Average	29%	33%	28%	24%
ROCE Average	39%	42%	34%	28%

Balaji Amines Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	171	201	228	278	362	467	574	658	894	1250	1554
Minority's Interest	0	0	2	2	0	18	18	10	16	65	144
Borrowings	104	89	75	46	17	42	83	120	89	58	30
Other Non-Current Liabilities	46	47	61	63	57	64	62	60	69	72	85
Total Current Liabilities	199	283	256	216	199	257	308	264	243	301	149
Total Liabilities	519	620	623	605	635	848	1046	1113	1310	1745	1963
Fixed Assets	234	325	341	341	325	316	320	573	543	676	775
Other Non-Current Assets	65	10	6	19	30	177	276	79	190	162	155
Total Current Assets	220	284	276	245	280	355	449	461	577	907	1033
Total Assets	519	620	623	605	635	848	1046	1113	1310	1745	1963

Balaji Amines Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	4	3	10	7	9	3	24	20	9	17	33
Cash Flow from Operating Activities	94	111	56	85	60	140	94	144	110	220	382
Cash Flow from Investing Activities	-86	-50	-4	-29	-10	-135	-119	-130	-62	-147	-186
Cash Flow from Financing Activities	-10	-53	-55	-54	-55	16	21	-26	-37	-57	-81
Net Cash Inflow / Outflow	-2	7	-3	2	-5	21	-4	-12	11	16	115
Closing Cash & Cash Equivalent	3	10	7	9	3	24	20	9	20	33	148

Balaji Amines Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	9.62	10.34	10.58	17.78	25.42	34.93	36.27	32.34	73.51	113.71	100.47
CEPS(Rs)	13.54	15.43	16.44	23.76	31.5	40.88	42.17	39.84	85.77	141.94	139.27
DPS(Rs)	1.3	1	1.2	2	2.2	2.6	2.8	3.2	4	6	10
Book NAV/Share(Rs)	52.89	62.07	70.34	85.87	111.87	143.99	177.13	202.99	275.94	385.74	479.69
Core EBITDA Margin(%)	14.26	13.09	15.1	17.66	20.41	20.81	20.31	18.97	28.06	26.77	25.82
EBIT Margin(%)	12.82	11.56	12.76	15.77	18.98	20	18.88	16.47	26.3	25.59	24.53
Pre Tax Margin(%)	8.26	6.84	7.58	12.6	17.2	18.96	17.5	14.01	24.9	24.86	24.02
PAT Margin (%)	5.6	5.02	4.93	8.25	11.27	12.94	12.42	10.42	18.57	17.96	17.19
Cash Profit Margin (%)	7.89	7.49	7.91	11.03	13.97	15.15	14.49	13.8	21.19	19.77	19.13
ROA(%)	6.33	5.88	5.34	9.39	13.29	15.27	12.37	9.03	20.1	27.35	21.88
ROE(%)	19.7	17.99	15.48	22.77	25.71	27.31	22.51	15.83	31.38	38.98	28.94
ROCE(%)	18.47	17.65	18.16	23.56	30.19	32.21	25.09	17.94	35.58	50.21	39.08
Receivable days	60.97	64.32	67.97	63.7	62.11	61.97	65.78	73.07	71.4	70.12	74.72
Inventory Days	53.85	40.3	54.99	49.77	44.22	39.25	48.82	53.04	30.44	26.07	40.62
Payable days	41.05	58.37	67.96	49.2	53.28	48.49	55.56	51.29	39.43	38.47	35.62
PER(x)	3.66	3.86	7.66	10.04	14.94	16.11	13.48	7.76	23.98	25.52	19.34
Price/Book(x)	0.67	0.64	1.15	2.08	3.39	3.91	2.76	1.24	6.39	7.52	4.05
Dividend Yield(%)	3.69	2.5	1.48	1.12	0.58	0.46	0.57	1.28	0.23	0.21	0.51
EV/Net Sales(x)	0.69	0.62	0.83	1.15	1.99	2.27	1.9	1.14	4.44	4.07	2.6
EV/Core EBITDA(x)	4.19	4.07	4.82	5.73	8.45	10.08	9.07	5.73	15.34	14.83	9.8
Net Sales Growth(%)	13.85	19.21	1.42	3.94	4.25	28.45	9.5	-0.77	40.15	77.12	1.4
EBIT Growth(%)	-3.49	8.12	11.41	28.12	25.9	26.15	1.83	-13.45	123.75	72.63	-2.79
PAT Growth(%)	-12.55	7.5	-0.93	73.55	42.94	37.44	3.45	-16.76	149.82	71.63	-2.92
EPS Growth(%)	-12.55	7.5	2.28	68.11	42.94	37.44	3.85	-10.84	127.29	54.67	-11.64
Debt/Equity(x)	1.4	1.3	1.12	0.62	0.29	0.33	0.4	0.39	0.14	0.08	0.04
Current Ratio(x)	1.11	1.01	1.08	1.14	1.4	1.38	1.46	1.74	2.38	3.02	6.92
Quick Ratio(x)	0.82	0.69	0.64	0.78	0.91	1.03	0.93	1.33	1.92	2.28	4.89
Interest Cover(x)	2.81	2.45	2.46	4.97	10.72	19.34	13.67	6.69	18.85	34.82	48.35
Total Debt/Mcap(x)	2.1	2.02	0.97	0.3	0.09	0.08	0.14	0.32	0.02	0.01	0.01

Balaji Amines Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	53.7	53.7	53.7	53.7	53.7	53.7	53.7	53.7	53.7	53.7
FII	3.9	3.99	4.51	4.55	4.39	4.46	4.55	4.52	4.57	4.92
DII	0.16	0.16	0.18	0.24	0.38	0.34	0.18	0.9	1.43	1.48
Public	42.24	42.15	41.61	41.51	41.54	41.51	41.57	40.88	40.3	39.9
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	1.74	1.74	1.74	1.74	1.74	1.74	1.74	1.74	1.74	1.74
FII	0.13	0.13	0.15	0.15	0.14	0.14	0.15	0.15	0.15	0.16
DII	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.03	0.05	0.05
Public	1.37	1.37	1.35	1.34	1.35	1.34	1.35	1.32	1.31	1.29
Others	0	0	0	0	0	0	0	0	0	0
Total	3.24	3.24	3.24	3.24	3.24	3.24	3.24	3.24	3.24	3.24

Pros

Company has delivered good profit growth of 29% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 33%
Debtor days have improved from 38.47 to 35.62days.
Company has reduced debt.
Company is almost debt free.

Cons

Stock is trading at 4.1 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.