Gross Sales up 14.48%, from Rs 485.96 crores to Rs 556.33 crores
Net Sales up 13.85%, from Rs 449.52 crores to Rs 511.80 crores
EBITDA up 1% from Rs 83.50 crores to Rs 83.93 crores
Exports up 24.69% from Rs. 105.48 Crore to Rs. 131.52 Crore
Dear Shareholders, Warm greetings to you all.
The performance of your company during 2012-13 was exceptional considering challenging
scenario of Economy. Your company was able to post cons1stent performance even under these
adverse economic conditions.
During the year, your company has achieved 14.48% growth in gross sales of Rs. 556.33
crs. from Rs.485.96 Cr during 2011-12. Exports during the year were Rs. 131.52 Cr against
Rs105.48 Cr last year.
During the year, the Company has received REACH Certificate for the products namely,
Triethylamine, Gammabutyrolactone, N-Ethylamine-2-Pyrrolidone along with the already
reg1stered N-methyl 2 Pyrrolidone (NMP) which enables the company to increase exports to
Further, two new plants , one for the first phase of Di-Methyl Amine Hydrochloride
(DMA-HCL) with an installed capacity of 7500 MT per annum commissioned in the month of Feb
, 2013 and second plant for manufacture of Di Methyl Formamide (DMF) with an installed
capacity of 30000 MT / P. A at MIDC Chinchol1, Solapur has been commissioned in the month
of March, 2013 . This capacity expansion is expected to add both to the topline and bottom
line in the coming financial years after normal plant stabilization and customer approvals
of the products.
During the year, the PVP K 30 manufacturing facility has received COS (Certificate of
Suitability) from EU. This enables the company to export PVP K 30 to regulated markets in
the Europe Union.The plant which is the only plant in India to manufacturer PVP K 30 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 are:
Second phase plant for manufacture of Di-Methyl Amine Hydrochloride (DMA-HCL)
with an installed capacity of 7500 MT per annum at MIDC, Chinchol1, Solapur, Maharashtra
has been taken up and expected go on stream by end of the FY 2014.
Finishing works are in full swing for 128 Room Hotel Property at Solapur to be
operational by September, 2013. The operator SAROVAR GROUP has already recruited their
team and they are working on final details for operations of the property.
Some of the achievements/awards received during the year.
Manufacturing Leadership Awards & Conclave 2011
Mr.A. Prathap Reddy, the Chairman and Managing Director of BAL have been honored with
the Manufacturing Leadership Awards & Conclave 2011 instituted by industry 2.0
magazine, a publication of 9.9 Media which seek to recognize senior manufacturing
executive having immense expertise in their respective manufacturing areas and have
demonstrated remarkable and outstanding excellence.
Best Manufacturer - Exporter (Medium)" at `Indian Exporter Excellence
Balaji Amines Limited has been Awarded for the category of "Best Manufacturer -
Exporter (Medium)" at the `Indian Exporter Excellence Awards 2012 instituted by the
Export Credit Guarantee Corporation of India Limited (ECGC)[An Indian Govt. Undertaking],
in association with Dun and Bradstreet (D&B), which seeks to recognize leading
exporters for their excellence in their respective fields.
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,
Banks, 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