BALAMINES

Current scenario - Q2 FY27 consolidated revenue stood at INR472 crores (up 36% YoY), EBITDA at INR106 crores (up 58% YoY), and PAT at INR67 crores (up 82% YoY). - H1 FY27 consolidated revenue reached INR933 crores, EBITDA at INR227 crores, and PAT at INR146 crores. - Standalone business continues to maintain a zero-debt position, with overall consolidated debt at INR161.15 crores and net worth at INR2,083.02 crores. Changes in trends - Sales volumes moderated by 6% YoY to 24,491 metric tons in Q2 FY27 due to careful order booking amid raw material price volatility, though volumes grew 13.5% QoQ. - EBITDA margins expanded YoY to 22% (vs 19% in Q2 FY26) but moderated sequentially from 26% in Q1 FY27. Management Guidance & Outlook - Management remains confident of reaching a top-line range of INR3,500 crores to INR4,000 crores by FY28/FY29. - Commercial production commenced at the expanded Acetonitrile facility (capacity increased to 1,440 tons/month) and the DME plant has received valve approvals from PESO with road tanker approvals expected shortly. Capex - Balaji Specialty Chemicals Unit-1 brownfield expansion (EDA-based derivatives) is slated for commissioning toward the end of FY27. - Unit-2 greenfield expansion at Chincholi (Hydrogen Cyanide, Sodium Cyanide, EDTA) is targeted for commissioning in Q4 FY27. Growth Drivers - Core amines and derivatives business providing operational stability and strong product mix. - Commercialization and scaling up of new capacities in Acetonitrile, DME (for aerosol and potential LPG blending), and N-Methyl Morpholine (NMM). - Portfolio expansion into high-value specialty chemicals and import substitution opportunities via Balaji Specialty Chemicals subsidiaries.

- Audio recording of the Q2FY27 earnings conference call held on November 4, 2026, is uploaded on the company's website. - The transcript for the conference call will be shared with the stock exchanges in due course.

- Q2 FY27 Consolidated Revenue grew 36% YoY to ₹472 Cr. - Consolidated EBITDA rose 58% YoY to ₹106 Cr (22% margin); PAT increased 82% YoY to ₹67 Cr. - Commercial production commenced at the upgraded Acetonitrile facility. - Brownfield expansion and Unit-II HCN/NaCN/EDTA projects on track for completion by Q4 FY27.

- Balaji Amines Limited received summons from the City Civil and Sessions Court, Ahmedabad, addressed to the Company and all its Directors. - The appearance date is set for 4th November, 2026. - The summons relate to alleged violations under Sections 16(1)(a), 18(a)(i), 18(c), 34, 27(b)(ii), and 27(d) of the Drugs and Cosmetics Act, 1940. - The company stated there is no material impact on the financial, operational, or other activities of the company.

Q2 FY27 Consolidated Revenue ₹472Cr vs ₹348Cr (▲36% YoY) EBITDA ₹106Cr vs ₹67Cr (▲58% YoY) PAT ₹67Cr vs ₹37Cr (▲81% YoY) EBITDA Margin 22% vs 19% (▲300bps)

Q2 FY27 Consolidated Revenue ₹468Cr vs ₹341Cr (▲37% YoY) EBITDA ₹102Cr vs ₹60Cr (▲70% YoY) PAT ₹67Cr vs ₹37Cr (▲82% YoY) EBITDA Margin 22% vs 18% (▲416bps) - Board took note of a Warning-cum-Advisory Letter issued by SEBI to the Company.

Concall Schedule Concall Date: 4th November 2026 Concall Time: 04:00 P.M. IST

- Food & Drug Administration (FDA) issued a Directions and Warning Letter dated January 10, 2025, regarding a technical-grade Propylene Glycol consignment sold for industrial use, which was later improperly used for pharmaceutical purposes by a third party. - No penalty, prosecution, or adverse order was passed against the Company. - The company has reviewed and tightened its sales and documentation practices to prevent recurrence. - There is no material impact on the financials or operations of the company. - The disclosure was delayed due to an initial interpretation of reporting requirements, subsequently submitted following a SEBI letter.

- Balaji Amines Limited received a Warning cum Advisory Letter from SEBI on September 30, 2026. - The action pertains to the non-submission of required disclosures under Regulation 30 regarding specific orders and letters. - The company stated there is no material impact on its financials, operations, or other activities.

- Director General of Foreign Trade issued an order against Balaji Amines Limited on August 13, 2024. - License put in Denied Entity List due to violation of Export Obligation. - Company stated there is no material impact on financials or operations. - Disclosure delayed due to interpretation of reporting requirements, submitted following SEBI communication.

- Completion of tenure of Mr. Rajendrakumar Mohanprasad Tapadiya as Independent Director of Balaji Speciality Chemicals Limited (material subsidiary). - Tenure ended on September 28, 2026, upon completion of his second term. - Cessation is due to the regular completion of term and not a resignation.

- Trading window closed with effect from October 1, 2026. - Closure relates to the declaration of Un-audited Financial Results for Q2/H1 ended September 30, 2026. - Window will reopen 48 hours after results declaration; Board meeting date to be informed later.

- Balaji Amines Limited commenced commercial production at its new Acetonitrile (ACN) Plant with advanced technology on 24th September 2026. - The plant is located at Unit-III, Chincholi MIDC, Solapur, Maharashtra under the expansion and modernisation programme. - The installed capacity of the ACN plant has increased to 1,440 TPM (Tonnes Per Month). - The product caters to both domestic and international markets.

- Balaji Amines Limited announced the withdrawal of its credit rating for bank loan facilities (₹1,950 million) by India Ratings and Research (Ind-Ra). - The withdrawal is on account of "No Due Certificates from the Banks", indicating repayment or termination of the facilities.

- Balaji Amines Limited's credit rating by India Ratings and Research was withdrawn on September 12, 2026. This is due to the company having no outstanding bank loan exposure and receiving 'No Dues Certificates' from all bankers.

- Investor Meet & Plant Visit Schedule - Date: 25th August, 2026 - Event: Plant Visit followed by a management meet - Location: Solapur, Maharashtra - Mode: Physical Meeting - Participants: Analysts / Institutional Investors

- Concall Schedule - Concall Date: 21st August 2026 - Concall Time: 4:00 P.M. IST

- Consolidated Revenue ₹461Cr vs ₹367Cr (▲25.6% YoY) - EBITDA ₹121Cr vs ₹64Cr (▲89.1% YoY) - PAT ₹78Cr vs ₹37Cr (▲110.8% YoY) - EBITDA Margin 26% vs 17% (▲900bps)

- Consolidated Revenue ₹455.93 Cr vs ₹358.34 Cr (▲27.24% YoY) - EBITDA ₹121.40 Cr vs ₹63.71 Cr (▲90.53% YoY) - PAT ₹74.94 Cr vs ₹38.00 Cr (▲97.16% YoY) - EBITDA Margin 26.63% vs 17.78% (▲885bps)

- The 38th Annual General Meeting (AGM) was held on July 10, 2026, through Video Conference/OAVM. - All resolutions, including the adoption of Audited Financial Statements for FY 2025-26, were passed with the requisite majority. - A dividend of Rs. 11 per Equity Share was declared for the Financial Year 2025-26. - Mr. Ande Srinivas Reddy was re-appointed as Whole-time Director.

New Filing detected. See link for details.

- Trading window for Balaji Amines Limited will close from July 1, 2026. - This closure is ahead of the declaration of un-audited financial results for the quarter ended June 30, 2026. - The window will reopen 48 hours after the results are declared.

- Board recommended a final dividend of ₹11 per equity share for FY 2025-26. - The dividend is subject to shareholder approval at the AGM on July 10, 2026. - The Record Date for determining dividend entitlement is July 3, 2026. - Payment will be made within 30 days from the AGM approval.

- Balaji Amines Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for the financial year 2025-26. - The report outlines the company's commitment to sustainable progress, stakeholder inclusivity, and responsible corporate citizenship. - It details initiatives in resource optimisation, waste minimisation, cleaner technologies, energy efficiency, water conservation, emission reduction, and social responsibility programs.

- Notice for 38th Annual General Meeting (AGM) on July 10, 2026, at 12:00 Noon IST. - FY26 Annual Report filed: consolidated revenue ₹1,454 Cr, PAT ₹169 Cr. Q4 PAT ▲62% YoY. - ₹11/share dividend recommended. FY27 outlook: 10-15% volume growth, 22-23% EBITDA margins.