Financials Balaji Amines Limited

Equities

BALAMINES

INE050E01027

Specialty Chemicals

Market Closed - Bombay S.E. Other stock markets 06:00:48 2024-04-29 am EDT			5-day change	1st Jan Change
2,204 ^INR	-0.74%		+0.60%	-17.41%

Mar. 14	India Ratings Keeps Balaji Amines Rating at AA; Outlook Stable	MT
Jan. 31	Balaji Amines Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023	CI

Valuation

Fiscal Period: March	2021	2022	2023	2024	2025	2026
Capitalization ¹	57,118	94,033	62,944	71,410	-	-
Enterprise Value (EV) ¹	57,118	94,033	62,944	71,410	71,410	71,410
P/E ratio	24 x	25.5 x	19.3 x	35.5 x	24.3 x	18 x
Yield	-	-	-	-	-	-
Capitalization / Revenue	-	4.05 x	2.67 x	4.34 x	3.43 x	3.02 x
EV / Revenue	-	4.05 x	2.67 x	4.34 x	3.43 x	3.02 x
EV / EBITDA	-	14.9 x	10.3 x	21.8 x	15.1 x	12.3 x
EV / FCF	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-
Price to Book	-	7.52 x	-	4.28 x	3.71 x	-
Nbr of stocks (in thousands)	32,401	32,401	32,401	32,401	-	-
Reference price ²	1,763	2,902	1,943	2,220	2,220	2,220
Announcement Date	5/24/21	5/12/22	5/21/23	-	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2021	2022	2023	2024	2025	2026
Net sales ¹	-	23,204	23,554	16,443	20,802	23,626
EBITDA ¹	-	6,302	6,091	3,278	4,740	5,788
EBIT ¹	-	5,881	5,635	2,715	3,859	5,081
Operating Margin	-	25.35%	23.93%	16.51%	18.55%	21.51%
Earnings before Tax (EBT) ¹	-	5,783	5,668	2,953	4,262	5,424
Net income ¹	2,382	3,684	3,255	2,024	2,964	3,987
Net margin	-	15.88%	13.82%	12.31%	14.25%	16.88%
EPS ²	73.52	113.7	100.5	62.48	91.51	123.1
Free Cash Flow	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-
Announcement Date	5/24/21	5/12/22	5/21/23	-	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	-	5,257	5,649	7,790	6,702	6,276	5,859	4,714	4,637	4,267	4,688	3,960
EBITDA ¹	-	1,313	1,587	1,971	2,147	1,731	1,278	931.3	980.4	683	736	883
EBIT	-	-	-	-	-	-	-	-	-	-	-	-
Operating Margin	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-
Net income ¹	903.8	797.5	895.6	1,087	1,230	925.7	625.7	474.1	527.3	-	-	775
Net margin	-	15.17%	15.85%	13.96%	18.35%	14.75%	10.68%	10.06%	11.37%	-	-	19.57%
EPS	27.90	-	-	-	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	8/2/21	10/27/21	2/2/22	5/12/22	8/12/22	10/27/22	2/6/23	5/21/23	8/31/23	-	-	-

¹INR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	34.4%	23.2%	11.6%	14.9%	15.2%
ROA (Net income/ Total Assets)	-	23.1%	17.6%	10.1%	12.5%	13.9%
Assets ¹	-	15,926	18,540	20,040	23,715	28,683
Book Value Per Share ²	-	386.0	-	519.0	598.0	-
Cash Flow per Share	-	-	-	-	-	-
Capex	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-
Announcement Date	5/24/21	5/12/22	5/21/23	-	-	-

¹INR in Million²INR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for Balaji Amines Limited

Trading Rating

Investor Rating

ESG Refinitiv

D+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

2,220 INR

Average target price

2,742 INR

Spread / Average Target

+23.50%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

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