Balaji Amines Q4 FY26: Margin rebound funds a heavy FY27 project slate

Consolidated revenue was INR403 crore, EBITDA INR102 crore and PAT INR65 crore in Q4 FY26, with EBITDA margin of 25% (as per presentation and concall).

DME is expected in Q1 FY2026-27, ACN in Q2 FY2026-27 and NMM during FY2026-27, as stated in the investor presentation and reiterated in the concall.

Management indicated FY27 utilization could be 30% to 40% initially, reaching 50% to 60% by end of FY27, and 80% to 90% in subsequent years, subject to approvals and market adoption.

The presentation states exports contributed 13.22% of FY26 total revenue, equal to INR188.33 crore.

The company described a phased INR750 crore expansion at Balaji Speciality Chemicals with Mega Project status, adding products such as HCN, NaCN, EDTA and EDTA-2Na and EDA-based value-added products, with commissioning targets in FY2026-27.

The presentation gives an industry-wise revenue breakup: Pharma 65%, Agrochem 25%, Paints and Resins 2%, Animal Feeds 2%, Oil and Gas 3%, Rubber Cleaning Chemicals 1% and Water Treatment Chemicals 1%.