Balaji Amines September profit rises 82% on chemicals revenue

Balaji Amines Limited reported consolidated profit of Rs 67.472 crore for the quarter ended September 30, 2026, an 82% increase from Rs 37.1021 crore a year earlier, led by Rs 464.2026 crore of revenue from its Amines & Speciality Chemicals segment. Consolidated profit before tax rose to Rs 89.2982 crore from Rs 51.6288 crore.

What drove Balaji Amines' September-quarter profit growth?

Balaji Amines' Amines & Speciality Chemicals segment was the main driver of the September-quarter increase, reporting profit before tax of Rs 87.9599 crore, compared with Rs 49.6408 crore in the quarter ended September 30, 2025. The segment accounted for most of the group's Rs 89.2982 crore consolidated profit before tax for the quarter.

The chemicals segment reported revenue of Rs 464.2026 crore, up from Rs 341.067 crore a year earlier. Its profit before tax increased by Rs 38.3191 crore year on year, while segment interest expense rose to Rs 1.2995 crore from Rs 90.93 lakh. The reported figures show that higher chemicals activity was the central source of the group's year-on-year earnings increase.

Consolidated total income was Rs 471.9775 crore in the September 2026 quarter, against Rs 347.6069 crore in the corresponding quarter of 2025. Total expenses rose to Rs 382.6793 crore from Rs 295.9781 crore, leaving profit before tax of Rs 89.2982 crore, compared with Rs 51.6288 crore a year earlier.

Tax expense totalled Rs 21.8262 crore, including current tax of Rs 18.9751 crore and deferred tax of Rs 2.8511 crore. There were no exceptional items reported in the quarter, and profit for the period was Rs 67.472 crore. Basic and diluted earnings per share were both Rs 20.76, compared with Rs 10.67 in the year-earlier quarter.

How did Balaji Amines' quarterly financials change?

Balaji Amines' total income increased year on year but profit declined sequentially in the September 2026 quarter. Total income rose by Rs 124.3706 crore from September 2025, while profit for the period was Rs 10.6457 crore below the Rs 78.1177 crore reported in the quarter ended June 30, 2026.

The sequential change reflected a Rs 10.527 crore increase in total income from the June 2026 quarter, alongside a Rs 27.4324 crore increase in total expenses to Rs 382.6793 crore. As a result, profit before tax declined by Rs 16.9054 crore from Rs 106.2036 crore in June, despite the increase in income.

For the half year ended September 30, 2026, Balaji Amines reported total income of Rs 933.428 crore, compared with Rs 714.9681 crore in the prior-year half. Profit before tax rose to Rs 195.5018 crore from Rs 100.6422 crore, while profit for the period increased to Rs 145.5887 crore from Rs 73.6293 crore.

How did Balaji Amines' chemicals and hotel segments perform?

Balaji Amines' chemicals business grew both year on year and sequentially, while the Hotel Division reported lower revenue and profit than in the June quarter. Chemicals segment revenue was Rs 464.2026 crore in September 2026, against Rs 452.8892 crore in June 2026 and Rs 341.067 crore in September 2025.

The chemicals segment's September profit before tax of Rs 87.9599 crore was higher than Rs 49.6408 crore a year earlier but below Rs 104.0938 crore in the June quarter. Revenue rose by Rs 11.3134 crore sequentially, whereas segment profit before tax fell by Rs 16.1339 crore over the same period.

The Hotel Division reported September-quarter revenue of Rs 7.1674 crore, down from Rs 7.9881 crore in June 2026 and Rs 7.2484 crore a year earlier. Its profit before tax was Rs 48.86 lakh, compared with Rs 1.5393 crore in June and Rs 92.63 lakh in the September 2025 quarter.

The unallocated segment recorded profit before tax of Rs 84.97 lakh in the September quarter, compared with Rs 57.04 lakh in June and Rs 1.0616 crore a year earlier. Group segment assets were Rs 2,731.0542 crore at September 30, 2026, including Rs 2,640.1786 crore for chemicals and Rs 63.5328 crore for the hotel business.

What do Balaji Amines' cash flow and balance sheet show?

Balaji Amines generated net cash from operating activities of Rs 54.463 crore in the half year ended September 30, 2026, compared with Rs 22.2051 crore in the previous-year half. Cash generated from operations before direct taxes was Rs 80.463 crore, up from Rs 37.7051 crore a year earlier.

Working-capital movements absorbed cash during the half year, including a Rs 34.703 crore increase in inventories and a Rs 42.9426 crore increase in trade receivables. Direct taxes paid were Rs 26 crore, compared with Rs 15.50 crore in the corresponding 2025 half year.

Net cash used in investing activities was Rs 66.5532 crore, compared with Rs 115.1219 crore in the previous-year half. Purchases of property, plant and equipment, including capital work in progress, were Rs 157.9169 crore, while advances towards capital purchases provided an inflow of Rs 201.0121 crore.

Consolidated total assets were Rs 2,731.0542 crore at September 30, 2026, marginally below Rs 2,742.5369 crore at March 31, 2026. Property, plant and equipment increased to Rs 1,159.5917 crore from Rs 1,034.7245 crore, while capital work in progress was Rs 513.1907 crore and cash and cash equivalents were Rs 52.6171 crore.

Conclusion

Balaji Amines' September-quarter result was led by the chemicals segment, whose Rs 464.2026 crore revenue and Rs 87.9599 crore profit before tax accounted for most of the group's year-on-year increase. Consolidated profit rose to Rs 67.472 crore from Rs 37.1021 crore, but remained below the Rs 78.1177 crore recorded in the preceding June quarter as expenses increased faster than income sequentially.

The next results will show whether chemicals segment profit can move above the September level after revenue increased sequentially but profit before tax declined from Rs 104.0938 crore in June. The balance sheet also leaves capital work in progress of Rs 513.1907 crore and non-current borrowings of Rs 120.4347 crore at September 30, 2026 as disclosed items to monitor.