Balaji Amines (530999) Q3 24/25 earnings summary

Executive summary

• Consolidated Q3FY25 total income was ₹321 crore, EBITDA ₹54 crore and PAT ₹31 crore; management described performance as stable amid global macroeconomic challenges.

• Management expects margins to improve as volumes rise, domestic demand strengthens and expanded capacities are utilized; outlook for FY26 is positive.

Financial highlights

• Consolidated Q3FY25 total income ₹321 crore vs ₹392 crore in Q3FY24; EBITDA ₹54 crore vs ₹83 crore; PAT ₹31 crore vs ₹56 crore.

• Consolidated 9MFY25 total income ₹1,070 crore vs ₹1,248 crore in 9MFY24; EBITDA ₹198 crore vs ₹247 crore; PAT ₹118 crore vs ₹160 crore.

• Consolidated Q3FY25 cash PAT was ₹47 crore vs ₹67 crore in Q3FY24; sales volume was 24,097 MT vs 26,903 MT.

Outlook and guidance

• Electronic-grade DMC and pharma-grade PG additions are expected to commission by end-March 2025; DME is targeted for Q1 FY26, NMM during FY26, and iso-propyl amines before June 2025.

• The 60 MT/day ACN project is expected to commission during FY25-26; a 2,500 TPA NBPT plant is proposed for next FY.

• Management expects increased growth opportunities in FY26, supported by rising volumes, demand recovery and utilization of expanded capacities.