Balaji Amines Shares Hit 20% Upper Circuit After Q4 Results; Peer Stocks Rally Up To 12%

Shares of Balaji Amines surged sharply on Thursday, 14 May, after the speciality chemicals company reported strong March-quarter earnings after market hours on Wednesday.

At 10:41 AM, Balaji Amines shares were trading at ₹1,623.40, up 19.99% for the day and locked in the upper circuit. The stock opened at ₹1,496 and touched an intraday high of ₹1,623.40.

This marked the stock’s biggest single-day gain in more than 10 years. The last time Balaji Amines had rallied 20% in a single session was in April 2015.

The sharp rally in Balaji Amines shares also lifted sentiment across peer companies in the amines and speciality chemicals segment.

Alkyl Amines shares gained 12.48% to ₹1,841 at 10:45 AM, while Amines & Plasticizers shares rose 12.31% to ₹189.14. Indo Amines shares also climbed 10.68% to ₹130.20 during the session.

Balaji Amines’ Sharp Q4 FY26 Earnings Growth

Balaji Amines reported a strong improvement in both year-on-year and sequential profitability during the March quarter.

Revenue from operations increased 11.92% year-on-year to ₹394.79 Cr. On a sequential basis, revenue rose 19.16% from ₹331.30 Cr in Q3 FY26.

Profit after tax grew 57.79% compared with the year-ago quarter and more than doubled sequentially from Q3 FY26 levels. Profit before tax also rose sharply, increasing 59.18% year-on-year and 86.69% quarter-on-quarter.

On the cost side, total expenditure rose 2.55% year-on-year to ₹300.54 Cr.

Some key cost movements during the quarter included:

• Raw material costs increased 28.02% to ₹231.25 Cr.

• Employee expenses rose 13.81% to ₹26.04 Cr.

• Interest costs climbed 153.49% to ₹2.18 Cr.

• Depreciation expense increased 8.14% to ₹13.95 Cr.

Despite higher input and finance costs, earnings growth remained strong because of better operating performance and higher revenue growth.

For the full FY26 financial year, Balaji Amines reported:

• Revenue growth of 2% to ₹1,424.98 Cr.

• Profit before tax growth of 9.04% to ₹232.49 Cr.

• Profit after tax growth of 6.15% to ₹167.20 Cr.

Why Did Peer Stocks Rally Together?

Market participants often track earnings trends in chemical companies closely because margin movements can indicate broader shifts in raw material costs, pricing power and industrial demand.

Balaji Amines’ strong sequential earnings improvement appears to have strengthened expectations of recovery across parts of the speciality chemicals space.

Even after Thursday’s rally, Balaji Amines shares remain around 15% below their 52-week high of ₹1,945. However, the latest move has extended the stock’s year-to-date gains to roughly 47%.

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What Else Should Investors Watch In Balaji Amines?

Along with the earnings announcement, the company’s board recommended a final dividend of ₹11 per equity share for FY26. The proposed dividend is subject to shareholder approval at the upcoming Annual General Meeting.

One area that investors may continue to monitor is cash flow generation. Net cash from operating activities declined to ₹184.04 cr in FY26 from ₹255.44 cr in FY25, despite higher profitability during the year.

For now, Thursday’s sharp move suggests investors are rewarding companies that are delivering stronger profitability improvement after a weak phase for the broader chemicals sector.

Sources:

CNBC TV18

Business Standard