Our value unlocking philosophy, germinates in our mind, resides in our approach and manifests in our products and actions.
We adopted a simple strategy since inception
1) cherry-pick products that are being imported by India for development,
2) leverage indigenous technology to develop and manufacture these products, and
3) our intellectual capital to streamline re-engineering designs, and processes to make the product cost-effective for our customers.
Over the years, this practice has become the organisation’s culture and stood us in good stead.
Currently, we are the only player in India to manufacture
And we are among the only two Indian producers of the following products
Also, we are the largest Indian producer of the following products
Taking India on the global map
We are the only manufacturer of Methylamines & Ehtylamines in the world using indigenous technology.
India is fully-charged to surpass its e-mobility target.
But its ambitions could face headwinds.
Dimethyl Carbonate (DMC), a chemical used predominantly in Pharma and other industries. This has an application in manufacturing Lithium Batteries.
Currently, about 8,000 tonnes of DMC land at Indian ports annually – a number which is expected to increase exponentially as the thrust on, and acceptance of e-mobility increases across the country
We will be commissioning a new DMC & PG (Propylene Glycol) plant as part of our greenfield project (Unit IV) which makes us the sole manufacturer in India of these products. In addition to serving the domestic market, we would also be looking for export opportunities.
Bad times are the best time.For it provides the opportunity to look inwards and improve.
In FY22, we had one such opportunity. We had an incident in our DMF facility in the third quarter of FY22. The plant needed to be shut down. We utilised this opportunity to undertake a process improvement exercise, which resulted in increasing our capacity from around 50 TPD to 75 TPD
long pending project of debottlenecking our Acetonitrile plant from 9 TPD to 12 TPD.
For our new Acetonitrile plant (with a capacity of 50 TPD) under Phase 2 expansion of our Greenfield Project, we plan to undertake production through a new technology, which will address the adverse impact of higher prices of acetic acid.
Set up in 1988, Balaji Amines Limited (Balaji) is one of India’s leading manufacturers of Specialty and Fine Chemicals with a specialization in manufacturing Methylamines, Ethylamines, Derivatives of Specialty Chemicals and Pharma Excipients.
Registered office in Solapur (Maharashtra, India) and Corporate Office in Hyderabad (Telangana, India). The Company has the state-of-the-art manufacturing facility near Solapur (Maharashtra, India) and Hyderabad (Telangana, India).
Balaji Amines also possesses an excellent R&D facility and pilot plants, which helps in conducting basic research and fine tune processes. Its passion for quality products is reflected in its strong global presence.
The Company is spearheaded by Mr. A. Prathap Reddy, Executive Chairman and other Members of Board. The day-to-day operations are managed by a team of 1100+ team members.
Started business operations
Started to produce Methyl Amines and Ethyl Amines in the following year
Established an R&D Centre at Hyderabad
Started manufacturing drug intermediate –Dimethyl Amine Hydrochloride
Added derivatives of Methyl and Ethyle Amines to the product portfolio
Certified with ISO:9001
Developed more specialty chemicals
Founded Balaji Foundation and Research Centre for the rural population as a part of CSR activity. Became the only manufacturer of GBI, NMP, and Morpholine
Secured the ‘Certificate of Merit’ for outstanding export by Chemexcil
Installed wind turbine for generating in-house electricity in-house to start focusing on renewable energy
Received “Certificate of Suitability” certification from European Directorate for the Quality Medicines & HealthCare (EDQM), Europe for our product PVPK-30.
Also received WHO-GMP certification and REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals).
Inaugurated the five-star hotel ‘Balaji Sarovar Premiere’ in October 2013
Commissioning of DMF manufacturing Plant
Awarded for Balaji Sarovar Premium’s ‘eco-friendly Green technology’
Awarded another ‘Certificate of Excellence’ for Balaji Sarovar Premium from the ‘Trip Advisor ‘on the basis of customer reviews for excellent food, service and hospitality
Set up a plant to manufacture Acetonitrile
90 acres of land allotted in MIDC, Chincholi with Mega Project Status
Set up a new plant under our subsidiary Balaji Specialty Chemicals Private Limited. The project was completed in a record 12 months and has also received Environment Clearance for Greenfield Project
Environmental Clearance received for Balaji Amines unit IV Greenfield Project
It gives immense pleasure in communicating with you. Last year around this time, we were in the midst of anxiety owing to the fast spreading and increasingly fatal second wave of the pandemic. Having overcome that very trying phase with considerable pain, we have resurged smartly. For India and Indians have, time and again, demonstrated resilience to rebound smartly against headwinds.
My heart goes out to all those families who have lost their loved ones during this health crisis. My immense gratitude to the entire healthcare fraternity, other frontline workers, institutions and individuals from all walks of life who have contributed to overcoming this very challenging phase.
FY22 was a good year for us at Balaji. We reported a healthy all-round performance in terms of growing the business during the period under review and drawing out the contours of our future road map that promises to sustain our business growth over the foreseeable future.Our business progress was partially hindered by the reduced availability of Key Starting Material (KSM) owing to global supply chain disruptions that prevailed during most part of the financial year. Besides, inflationary pressures, particularly in the second half of the fiscal, impacted overall operating margins.
We ended the year with satisfying numbers. Our revenue grew by 65.08%, EBITDA by 35.64% and Net Profit by 32.90% over the previous financial year. We were aided in achieving this growth by our DMF and new Ethylamines plants which were commercialised during the year and have achieved stable operations since.
Having made good progress, we start the current year with considerable optimism and unlocking value for all our stakeholders.
We shall continue to witness improved demand across our product portfolio. The global sourcing from Indian pharma and agrochemicals industry is expected to increase on account of the ‘China Plus One’ business strategy being adopted by western companies. As the confidence in building demand will continue to scale northwards
Also, the PLI incentives provided by the Government gives considerable impetus to speciality chemicals, pharmaceutical and agrochemical industries to undertaken sizeable capex which will allow India to capitalise on this large opportunities. The combination of these factors should cascade into healthy demand for our products.In keeping with this reality, our thrust will be on expanding our portfolio of key derivative products alongside entering newer specialty chemicals to gain from both vertical integration and operating efficiencies.We are working on both aspects, putting in place the requisite building blocks, which should strengthen our growth momentum going forward.
We are setting up a plant for manufacture of Di Methyl Carbonate (DMC) & Propylene Glycol (PG) [under Phase 1 of our 90-acre Greenfield Project (Unit IV)] which will be operational in FY23. DMC is an import-substitute used for making Polycarbonate, apart from this DMC and PG are widely used in pharma and other Speciality chemical industries.
The consumption of DMC and PG s is expected to grow exponentially in India backed by various applications across the sectors. Moreover, there is encouraging scope for exporting DMC to other global markets. The unit’s capacity of DMC is 15,000 TPA and that of Propylene Glycol is 15,000 TPA.
In addition to this, we have substantial capex plans (Rs. 300-350 crore) which will be initiated over FY23 and FY24 and are expected to commence production between mid FY24 till end of FY25.
1) New N-Butylamine plant with a capacity of 15,000 TPA
2) Acetonitrile plant with a capacity of 15,000 TPA
3) Methylamine plant with a capacity of 40,000 TPA4) DMF plant with a capacity of 30,000 TPA
These units, when commissioned, will further strengthen our position in our business space.
We also plan to steadily expand our reach in the export market over medium to long-term, given the eagerness of global companies to reduce their exposure to Chinees suppliers.
We will continue our endeavour to produce high-quality products which substitute imports, for whichwe have been continuously undertaking expansions. This will only reinforce our commitment to unlock value. My personal focus will be on improving the quality of business. This means improving our products, our technology and processes and our customer service to increasingly unlock value for our customers.
I take this opportunity to thank my colleagues on the Board for their knowledge and guidance in drawing the contours of our strategy and helping the company course correct to align with sectoral realities. I would also like to thank the entire team for the unwavering dedication and tireless efforts in elevating the Company’s position in our business space. I express my gratitude for all other stakeholders for their support and belief in our journey. We continue to solicit your support as we journey towards our ambitious goal.
Stay safe. Stay healthy.
Warm regards,
Ethical and responsible businesses are the one who are most likely to withstand the innumerable headwinds that continue to thwart business progress. The headwinds of tomorrow are not the same as those that impacted business a few years ago.
Climate change is the buzz word across the world – in political circles and economic and business forums. Countries and companies have articulated their aspiration to transition to a Net Carbon Zero position over the coming years.
Hence, comprehensive concern and responsibility of the Environment has become a business mandate. As a result, Environmental, Social and Governance (ESG) has emerged as a business imperative for sustained
Hence, comprehensive concern and responsibility of the Environment has become a business mandate. As a result, Environmental, Social and Governance (ESG) has emerged as a business imperative for sustained success. In today’s world, it is used as a yardstick by investors for screening companies and encourages organisations to act responsibly. Investors seek to ensure that the Company is taking prudent strategic decisions that pass the ESG filters.
As a responsible organisation, Balaji, since inception, has built its organisation pillared on Environmental, Social and Governance. Every strategic decision is taken after its successfully clears these three aspects.
Though, the Company deals in chemicals. The overall business of Balaji’s focus has been the immediate impact on the environment, health and safety of our employees, stakeholders is minimally cognizant of this responsibility, the Company has established strong systems and processes to mitigate these risks. Its stringent processes and systems, have ensured that the Company has always complied with the demanding standards of the National & Global Environmental objectives.
The Company focuses on supporting economically weaker sections of the society through its CSR activities in improving Rural infrastructure, education, healthcare and livelihood which is crucial to the business and the society at large.
The Company understands that education infuses the ability of innovation and adaptability on which the future depends. In keeping with this belief, the Company generously contributes to the educational institutes in the Solapur, Osmanabad and Medak district areas. Where the facilities are set up. It provides notebooks, library books, benches, desks, water filters R/O system, toilet blocks, laboratory equipment, provide funds for the construction of school buildings and other required furniture set up.
t also provides projectors and computers to promote e-learning. Deserving underprivileged students are awarded scholarships. Some of the district level and international conferences, educational lectures, and seminars are sponsored by Balaji. Students of the above districts are encouraged to participate in various academic and sports related competitions. The Company assists star sports persons of this region to prepare for the State or National level sports.
In the healthcare realm, Balaji shoulders the medical expenses of underprivileged patients. They have established health centres, camps etc., to provide access of medical assistance to emergency patients and the underprivileged sections of society. The Company arranges and funds regular free health camps (including eye/dental checkups) in remote areas. The Company provides dustbins and funds the construction of toilet blocks around the Solapur and Osmanabad districts to ensure proper health and hygiene is taken care of.
Balaji also facilitated and funded the installation of large water tanks, which is done to provide relief to communities in Solapur and Osmanabad districts – they did not have sufficient access to water resources. Additionally, the Company also provided water for the livestock in this region during summerThe organisation contributes to orphanages situated in and around Solapur. It provides financial support to several homeless people to improve their living conditions. Furthermore, the Company has donated wheelchairs for senior citizens at Solapur Railway Station.
4) Conservation of Natural Resources
The government of Maharashtra
introduced a strategy for water
conservation named ‘Jalyukt Shivar
Abhiyan’ with an aim to make the
state drought-free. Balaji strategised
to become part of this initiative. The
key aim of Jalyukta Shivar Abhiyan is
to establish the belief in the farming
community that ‘every drop of
rainwater is owned by them, and it
should percolate in their land’. With
respect to this view, the Company
started this mission by way of
deepening and widening of Nallas
(drains, rivulets) since 2015. So far, we
have completed work in more than
27 villages and have been partners in
creating large storage of water to the
tune of 300 TCM (30 Crores litres).
Balaji Amines has preferred with an NGO to set up Ekalavya Centre for organic agriculture, research and training Centre at Gungurti, Tandur Mandal, Vikarabad District, in Telangana. The Company has provided infrastructure facilities as a part of its smart village development by constructing roads and providing cement poles, streetlights, and surface drainage facilities to various villages.
The Company supplied garbage containers to some of the Villages in Solapur and Osmanabad districts to support the “Swatch Bharat Abhiyan”. It also provided containers and dumper placer for waste management of the Municipal Corporation of Solapur/ Osmanabad districts.
Balaji Amines Limited is a Winner for the Award for Excellence in Sub-Sector in Speciality
Chemicals at India@75 : Chemical and Petrochemical Industry Awards, 2021 by FICCI
(Federation of Indian Chambers of Commerce and Industry
Balaji Speciality Chemicals Limited, Subsidiary Company as a Joint Runner-Up for Award
for Leading Company Contributing Towards Atmanirbhar Bharat in Chemicals at India@75:
Chemical and Petrochemical Industry Awards, 2021 by FICCI (Federation of Indian
Chambers of Commerce and Industry)
