Balaji Amines declines on weak operational show, but management stays bullish
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The fall in operating margin was primarily on account of degrowth in pharma and active pharmaceutical ingredients sector
Shares of Balaji Amines fell sharply on February 7 as the company’s weak operational show in the December quarter weighed on investor sentiment.
At 10.23am, shares of Balaji Amines traded 5.08 percent lower at Rs 2,183.55 on the National Stock Exchange.
The company’s EBITDA margin contracted to 22.14 percent in the October-December period, down from the 27.96 percent a year ago. The fall in operating margin was primarily on account of degrowth in pharma and active pharmaceutical ingredients sector, the management said in an exchange filing.
The disappointing operational performance also dragged the specialty chemical manufacturer’s bottomline down 17.52 percent on year to Rs 83.79 crore.
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