Balaji Amines announced that it has completed Phase 1 of Greenfield project Unit IV and it will further add new capacities in Phase 2 of Greenfield project unit IV.
The company said that the commercial production of di-methyl carbonate (DMC) / propylene carbonate (PC) and propylene glycol (PG) has commenced at the company's newly set up plant in MIDC, Chincholi, Solapur with effect from 26 September 2022.The speciality chemical maker added that it has received the environmental clearance & Maharashtra Pollution Control Board permission in the form of consent to operate and has completed the Phase 1 of Greenfield project Unit IV.
The company said that it estimates an annual production capacity of 15,000 million tonne of DMC or PC and 15,000 tonnne PG.
Balaji Amines is a leading manufacturer of aliphatic amines & speciality chemicals in India, specialized in manufacturing of methyl amines, ethyl amines, derivatives of amines and other specialty chemicals.
The company's net profit rose 36% to Rs 122.96 crore on a 48.7% increase in revenue from operations to Rs 670.17 crore in Q1 FY23 over Q1 FY22.
The scrip shed 3.15% to currently trade at Rs 3,433.65 on the BSE.
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