BALAJI AMINES LIMITED
ANNUAL REPORT 2011-2012
Warm greetings to you all.
The performance of your company during 2011-12 was exceptional. Your
company was able to post consistent performance even under challenging
economic conditions during the last few years.
During the year, your company has achieved 26% increase in gross sales from
Rs. 385.05 Cr during 2010-11 to Rs. 485.95 Cr during 2011-12 and 34%
increase in Profit after Tax from Rs. 26.61 Cr in 2010-11 to Rs. 35.66 Cr.
in 2011-12. Exports during the year were Rs. 105.48 Cr. compared to
Rs.75.43 Cr. last year.
During the year, one of the company`s products N-methyl Pyrrolidone (NMP)
received `REACH` certification which enables the company to export to
Europe. Further, a new plant for manufacture of Methylamines with a
capacity of 100 MT/day was commissioned during March, 2012. This capacity
expansion is expected to add both to the topline and bottom line in the
coming financial years.
During the year, the PVP K 30 manufacturing facility has received COS
(Certificate of Suitability] from EU. This enables the company to supply
and export PVP K 30 to regulated markets. The plant has also been
successfully audited by multiple multinational auditing agencies as well as
Your company is India`s only manufacturer of specialty chemicals like NMP,
GBL, Morpholine, PVP K 30, NEP, etc. The plants for these products have
been developed indigenously by the company`s in-house R&D team. The quality
of these products is on par with international standards and is commanding
100% import substitute in India. Some of the above products are being
exported to major customers worldwide.
Your company has become one of the leaders in Specialty Chemicals among
International Specialty Chemical Industry and plans to be among top ten
companies in the years to come.
Some of the expansion/diversification activities taken up during the year
* New plants for manufacture of DMAHCL and DMF are under implementation at
MIDC, Chincholi which will be commissioned in this financial year.
* Construction is in full swing for development of a 100-room hotel
property at Solapur to be operational by March 2013. A formal agreement
with Sarovar Group of Hotels has been entered into for operating/managing
the hotel property in the name of `Balaji Sarovar Premier`.
With all the above additions, I am confident that your company will
continue its growth path in the coming years. I take this opportunity to
thank all our shareholders, clients, Government of India, Government of
Maharashtra, suppliers, partners and employees for their continued support
and look forward to the same in the future.
With best wishes,
A Prathap Reddy
Chairman & Managing Director