Balaji Amines Limited, a leading Indian manufacturer of aliphatic amines and specialty chemicals, reported steady quarterly performance despite softer demand in pharmaceutical and agrochemical segments.

 

For the quarter ended December 31, 2025, consolidated revenue stood at Rs. 336.29 crore, with EBITDA of Rs. 61.67 crore and net profit of Rs. 30.76 crore. On a standalone basis, revenue was Rs. 306.57 crore and net profit Rs. 32.42 crore.

 

Operational Highlights: Total volumes for Q3FY26 were 25,894 MT, up from 24,097 MT in Q3FY25; Amines volumes reached 6,993 MT, amines derivatives at 9,223 MT, and specialty chemicals at 9,678 MT; EBITDA margin for Q3FY26 was 18.34%, compared to 19.24% in Q2FY26; On standalone performance, Balaji Amines remains a zero-debt company.

 

Per the company, Di Methyl Ether (DME), N-Methyl Morpholine (NMM), and an improved Acetonitrile (ACN) plant are all on track for commissioning in FY 2026-27. Similarly, a Rs. 750 crore expansion at subsidiary Balaji Speciality Chemicals Limited, covering Hydrogen Cyanide, Sodium Cyanide, and EDTA products, has received Mega Project status from the Maharashtra government.

 

Brownfield and greenfield projects at Unit-I and Unit-II are progressing, with new reactors and plants expected online through FY 2026-27.

 

Commenting on the results, Managing Director D Ram Reddy said: "For the quarter and period ended 31st December 2025, business activity continued to be relatively stable primarily on account of softer demand trends in the pharmaceutical and agrochemical segments, impacted by ongoing global uncertainties. Nevertheless, with key projects advancing on schedule, the company expects a steady pickup in performance in the upcoming quarters as additional capacities are expected to contribute to the top and bottom line.

 

"The new Free Trade Agreement with the EU, BAL is confident of having a positive outlook on the Export opportunities for its products."

 

On the capacity front, Reddy said, the ramp-up of our electronic-grade DMC and Pharma-grade Propylene Glycol initiatives remain a key strategic lever. Although meaningful contribution is still forthcoming, these lines align strongly with domestic import-substitution trends and reinforce our future growth architecture. Simultaneously, our legacy amines and derivatives business continue to deliver reliable cash flows, providing us with operational resilience.

 

"Given global cyclical headwinds and pockets of muted demand, near-term utilisation of our newly added capacity may remain below optimum levels. However, we remain confident in our ability to harness structural tailwinds—such as India’s push for greater self-sufficiency in specialty chemicals—and expect a gradual improvement in product mix and pricing realisation.

 

"Looking ahead, our outlook remains steady in the near term, with clear signs of inflection emerging in the coming quarters. Over the medium to long term, BAL is poised to benefit from our differentiated portfolio, capacity expansions, and cost-competitive manufacturing base. We continue to prioritise targeted investments, operational discipline and market-leading execution as we navigate the evolving industry landscape.”