By the end of this financial year, Balaji Amines expects to commence manufacturing of Ethylamines under the first phase of its 90-acre Greenfield Project, for which capex of Rs. 105 crore out of total Rs. 150 crore has been completed. 

 

The shortfall of supply in Ethylamines in India is likely to increase to 15,000 tons per annum by FY23 from 9,000 tons per annum now. Demand for Ethylamines is likely to get a further boost as it finds application in COVID-19 medicines. The production of Di-Methyl Carbonate (DMC) is expected to commence during FY22. 

 

Balaji Amines subsidiary Balaji Speciality Chemicals Private Limited has recently received the REACH Certification from Europe for export of its product Di-Ethylene TriAmine (DETA). In FY20, the company had received REACH Certification for export of Ethylene Di Amine (EDA). In Q2 FY21, the subsidiary company had an improved sales run-rate of about Rs. 10 crore per month. Brightened prospects for the agrochemicals sector should bode well for improved performance in H2 FY21. 

 

Demand for products like Acetonitrile, DMF, NEP, DMA and TEA will continue to remain elevated as they are intermediates for drugs required for COVID-19 treatment. The company is likely to observe better volume offtake in the second half of this fiscal year, especially with the expected revival of the entire economic value chain across industries. The process of debottlenecking of the Acetonitrile plant has commenced, post which the production output should jump to 18-20 tons per day, from the current 9 tons per day.

 

Amines volumes stood at 5,094 MT, Amines Derivatives volumes stood at 9,916 MT and Specialty Chemicals volumes stood at 8,140 MT. The sales volumes were up by 8.30% from 21,376 MT in Q2 FY20 to 23,150 MT in Q2 FY21. The companies plants’ capacity utilization in Q2 was similar to pre-COVID levels.