Balaji Amines Limited Earnings Summary — Q4 FY2026
Balaji Amines Records Sharp Recovery in Q4 FY2026 as Net Profit Surges 63% on Significantly Improved Operating Margins
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue has increased for 3 consecutive quarters.
- Revenue of ₹456 Cr is 27.2% higher year-on-year.
- Revenue has compounded at 4.4% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit has reached its highest level in 10 quarters.
- Net profit of ₹75 Cr is 97.2% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at 4.4% annualised across the period.
- Operating margin stands at 25.4% in Q1 FY2027.
- Operating margin expanded by 1016 bps year-on-year.
- Over the last two years operating margin has expanded by 824 bps.
- PBT margin is 23.3%.
- Expense growth of 12.0% remained below revenue growth of 27.2%.
- Operating profit of ₹116 Cr is 111.8% higher year-on-year.
- Operating leverage continues to improve.
- 3 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 80/100 (Strong) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Accelerating | 456 | 395 | 331 | 341 | 358 | 353 | 313 | 347 | 385 | 414 |
| Expenses | Stable | 340 | 301 | 275 | 281 | 304 | 293 | 267 | 286 | 319 | 316 |
| Operating Profit | Accelerating | 116 | 94 | 57 | 60 | 55 | 60 | 46 | 61 | 66 | 98 |
| Operating Margin | Accelerating | 25.4% | 23.9% | 17.1% | 17.6% | 15.3% | 16.9% | 14.6% | 17.5% | 17.2% | 23.6% |
| Other Income | Stable | 6 | 8 | 5 | 7 | 9 | 8 | 8 | 9 | 8 | 9 |
| Interest | Accelerating | 1 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | Stable | 14 | 14 | 14 | 14 | 14 | 13 | 12 | 12 | 12 | 12 |
| Profit Before Tax | Accelerating | 106 | 86 | 46 | 52 | 49 | 54 | 41 | 57 | 62 | 93 |
| Tax | Accelerating | 28 | 21 | 15 | 15 | 12 | 13 | 10 | 15 | 16 | 20 |
| Net Profit | Accelerating | 75 | 63 | 31 | 35 | 38 | 40 | 33 | 41 | 43 | 68 |
| Net Margin | Accelerating | 16.4% | 16.0% | 9.5% | 10.2% | 10.6% | 11.4% | 10.6% | 11.8% | 11.3% | 16.4% |
Key Takeaways
- Net Profit surged to ₹65 Crores in Q4 FY2026, marking the highest quarterly profit in the last two fiscal years.
- Operating Profit Margin (OPM) returned to long-term peak levels of 24%, up significantly from 17% in the prior sequential quarter.
- Quarterly sales grew sequentially for the second consecutive quarter, signaling a potential reversal in the three-year revenue downtrend.
- Borrowings increased sharply to ₹133 Crores in March 2026, up from ₹11 Crores in March 2025, likely funding the surge in CWIP.
- Capital Work in Progress (CWIP) more than doubled to ₹512 Crores, indicating massive ongoing investment in capacity expansion.
- Net income for the full year reached ₹169 Crores, an improvement over the ₹159 Crores projected Trend TTM.
- Tax expense normalized to 25% in the latest quarter compared to a high of 33% in Dec 2025.
Management Guidance
Management is focused on import substitution and capacity expansion in higher-value derivatives to reduce the impact of cyclical commodity fluctuations. Technical expertise in specialty chemicals is being leveraged to regain pricing power.
Sentiment Shift
Improving
After a multi-year period of margin compression and declining profits, the Q4 performance shows a sharp rebound in profitability and a significant acceleration in capital expenditure for future growth.
Outlook
The company's outlook is bolstered by the massive ₹500Cr+ capital project pipeline and a recovery in operating spreads. While historical cyclicality remains a risk, the sudden expansion in margins suggests Balaji is successfully navigating the down-cycle bottom.
From the Annual Report (Key Quotes)
“The company's focus on import substitution and capacity expansion in higher-value derivatives offers long-term potential.”
“Sole manufacturer status for specific specialty chemicals remains a key competitive advantage.”
“Balance sheet remains strong despite the increase in borrowings to fund aggressive CWIP targets.”
Official Quarterly Documents
This summary is AI-generated from Balaji Amines Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.