Balaji Amines Q2FY23 PAT up 16.08% at Rs92.57 crore on lower raw material costs on a yoy basis

28 Oct 2022 , 08:15 AM

Balaji Amines Ltd reported 19.4% growth in total revenues for the September 2022 quarter on consolidated basis at Rs627.56cr.

Revenues were lower by -6.4% in sequential terms. The core specialty chemicals business of Balaji Amines saw an 18.6% yoy growth at Rs624 crore.

Revenues from hotels and CFL lamps verticals were also higher but they were relatively small in the overall scheme of things.

The net cash from operations for the first half of FY23 turned around to positive on lower trade receivables and higher trade payables.

This more than offset the spike in inventories that had put pressure on the working capital lock-in.

Consolidated Profit after tax (PAT) for September 2022 quarter was up 16.08% at Rs92.57 crore and it was down -24.7% on sequential basis.

The profit growth was however lower than the top line growth as the lower raw material costs was offset by higher inventory costs in the quarter amidst supply chain constraints.

Most specialty chemical companies are stacking up on inventories amidst supply uncertainties of key inputs. Net profit margins at 14.75% in Q2FY23 is lower compared to 15.17% in Q1FY22 and 18.35% in Q1FY23.

Financial highlights for Sep-22 compared yoy and sequentially

	Balaji Amines
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 627.56	₹ 525.73	19.37%	₹ 670.17	-6.36%
Net Profit (Rs cr)	₹ 92.57	₹ 79.75	16.08%	₹ 122.97	-24.72%
Diluted EPS (Rs)	₹ 28.57	₹ 24.61		₹ 37.95
Net Margins	14.75%	15.17%		18.35%