India Ratings & Research (Ind-Ra) has affirmed Balaji Amines' long-term issuer rating at 'IND AA-' with a stable outlook.
Ind-Ra affirmed "IND AA-/Stable/IND A1+" ratings on Balaji Amines' fund-based working capital facilities. The outlook is stable. The credit rating agency also affirmed an "IND A1+" ratings on the company's non-fund based working capital facilities.
Balaji Amines' consolidated net profit jumped 281.4% to Rs 78.91 crore on 72.3% rise in net sales to Rs 392.13 crore in Q3 FY21 over Q3 FY20.
Balaji Amines is a leading manufacturer of Aliphatic Amines in India. Broadly, the company is specialized in manufacturing Methyl Amines, Ethyl Amines, Derivatives of Specialty Chemicals and Natural Product and its business is broadly classified into three segments - Amines, Specialty Chemicals and Derivatives.
Shares of Balaji Amines rose 0.76% to Rs 1,877.65 on BSE. The scrip hovered in the range of Rs 1,858.05 to Rs 1,894.15 so far.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
