Buy Balaji Amines, target price Rs 2746: Axis Securities

Axis Securities has buy call on Balaji Amines with a target price of Rs 2746. The current market price of Balaji Amines is Rs 2465.05 Axis Securities recommended to keep stop loss at Rs 2350.

Balaji Amines, incorporated in the year 1988, is a Small Cap company (having a market cap of Rs 8059.10 Crore) operating in Chemicals sector.

Balaji Amines key Products/Revenue Segments include Aliphatic Amines & derivatives and Income from Rooms, Restaurants & Other Services for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 588.47 Crore, down -6.65 % from last quarter Total Income of Rs 630.41 Crore and up 4.00 % from last year same quarter Total Income of Rs 565.83 Crore. Company has reported net profit after tax of Rs 83.79 Crore in latest quarter.

The company’s top management includes Mr.A Prathap Reddy, Mr.Kashinath R Dhole, Mr.C S N Murthy, Mr.M Amarender Reddy, Mr.T Naveena Chandra, Mr.A Srinivas Reddy, Mr.G Hemanth Reddy, Mr.N Rajeshwar Reddy, Mr.D Ram Reddy, Mrs.Vimala B Madon. Company has Ayyadevara & Co. as its auditors. As on 31-12-2022, the company has a total of 3 Crore shares outstanding.

Investment Rationale
Strong comeback of bullish, fastest retracement of recent down fall, huge rising volumes.

Promoter/FII Holdings
Promoters held 53.7 per cent stake in the company as of 31-Dec-2022, while FIIs owned 4.39 per cent, DIIs 0.37 per cent.