Balaji Amines reported 64 percent revenue growth, EBITDA has more than doubled and the bottomline has expanded 163 percent. D Ram Reddy, MD of Balaji Amines discussed the third-quarter numbers. There is a short supply of a pharma product, dimethylformamide (dmf), in the world market, he said.

“Even though there is no antidumping, the product has become short supply from China and other countries. We are in a position to operate this product for more than 40-45 percent. We expect this to continue as the consumption growth for this product has gone to more than 70,000 tonne in the country. We are the only manufacturer having only 30,000 tonne capacity.”

Presently the company has a good opportunity.

“Today we are in a position to export few products to China. If this continues there is a good opportunity for the Indian companies including Balaji Amines. We have taken up the expansion - one greenfield expansion commencing from next month,” Reddy said.

In terms of the hotel business, he said, “We are doing well, as of now there are no losses. In spite of the pandemic, we have done some profits and we are expecting that it will continue in the next quarter as well. We are not going for any further expansion here.”

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(Edited by : Ajay Vaishnav)

First Published:Feb 9, 2021 1:12 PM IST