Balaji Amines (530999) Q1 24/25 earnings summary

Executive summary

• Consolidated Q1FY26 revenue from operations was ₹367 crore; EBITDA was ₹64 crore and PAT was ₹37 crore, with volumes higher QoQ but key profit measures lower YoY.

• Stable commodity prices supported steady performance; management expects margins to improve as volumes recover, while noting expanded-capacity utilization could face near-term pressure.

Financial highlights

• Consolidated total income was ₹367 crore versus ₹393 crore in Q1FY25 and ₹361 crore in Q4FY25.

• Consolidated EBITDA was ₹64 crore, compared with ₹74 crore in Q1FY25 and ₹68 crore in Q4FY25.

• Consolidated PAT was ₹37 crore versus ₹46 crore in Q1FY25 and ₹40 crore in Q4FY25.

• Consolidated cash PAT was ₹51 crore versus ₹59 crore in Q1FY25 and ₹43 crore in Q4FY25; cash PAT is defined as PAT plus depreciation and deferred tax.

Outlook and guidance

• Management anticipates EBITDA and PAT margin expansion as volume uptake improves and industry recovery progresses.

• DME and 5,000 TPA NMM projects are under execution and expected to commission in FY26; the improved-process ACN project is expected in FY27.

• Unit I brownfield EDA products and Unit II greenfield HCN, NaCN and EDTA plants are progressing toward commissioning in Q1 FY27 and FY27, respectively.

• Electronic Grade DMC and Pharma Grade Propylene Glycol are expected to build domestic volumes.