by Sachin Murdeshwar

Mumbai : Balaji Amines recorded Net Sales of Rs  511.79 crore for the year ended 31 March, 2013, up from Rs 449.52 crore in the corresponding period of previous year, resulting in an increase of 13.85%.

Export continues to drive the growth. It clocked Rs. 131.52 crore for the year ended 31st March 2013 from Rs. 105.43 crore in the previous year.

“The results are in line with our expectations. The effort put in by our entire team is showing results now. Exports continue to drive our growth” commented Mr. D Ram Reddy, Joint Managing Director of Balaji Amines Ltd. “The dip at PAT levels is due to increased interest and also on account of depreciation. We are looking to put in place, cost control measures.  Rest of the expansion and developments are in line and this has lead us to announce a dividend for our shareholders”

Other significant developments during the period under consideration:

REACH certification, which enables our company to export to Europe, has yielded results which are evident from increase in Export sales, this despite the European recession which has been a problem for many industries.

The following expansion / diversification projects are commissioned during FY 2012-13:

First Phase of DMAHCL plant with an installed capacity of 7500 M.T / P. at MIDC (Chincholi, Maharashtra).

DMF Plant with an installed capacity of 30000 MT / P.A

Construction is in final stages of finishing for development of 128 Room Hotel property at Solapur to be operational in a couple of months. A formal agreement with SAROVAR Group of Hotels has been entered for operating / managing the Hotel property in the name of “BALAJI SAROVAR PREMIER”.

Achievements:

BAL continues registration work of various products including NEP, GBL and TEA under European REACH requirements. This allows BAL to continue being active in the European Markets for these products in the compliance with the latest European Regulations.

BAL Pharma excipient offering Pharmapure Providone PVK-30 continues to be tested and accepted by various customers in India and Abroad as well. This allows us to increase net realization on the same based higher end applications.

BAL has been recognized with the second award from the prestigious organization Chemexcil for outstanding export performance in the year 2009-10 under the large Scale Sector. Chemicals panel.