Balaji Amines shares: Why this smallcap stock rallied 10% today
Balaji Amines said it has become eligible for entitlements under the Industrial Promotion Subsidy worth Rs 258 crore.
- Jan 8, 2026,
- Updated Jan 8, 2026 4:52 PM IST
Shares of Balaji Amines Ltd climbed 14 per cent on Thursday after the Directorate of Industries, Government of Maharashtra, issued an eligibility certificate for expansion of its unit under the investment-based Mega Projects scheme. Balaji Amines rose 13.74 per cent to close at Rs 1,219.90 apiece. Despite the jump, the smallcap stock is still down 35.85 per cent over the past six months.
In an exchange filing, Balaji Amines said it has become eligible for entitlements under the Industrial Promotion Subsidy worth Rs 258 crore. The benefits included subsidy to the extent of 50 per cent of State GST payable on the sale of eligible finished products in Maharashtra, exemption from electricity duty, and 100 per cent exemption from payment of stamp duty for a period of seven years.
The eligible period for these incentives runs from January 1, 2024, to December 31, 2030, in line with a government notification issued by the Revenue and Forest Department.
For H1FY26, Balaji Amines' consolidated revenue stood at Rs 715 crore and Ebitda at Rs 131 crore, translating into an Ebitda margin of 18 per cent. PAT for the half year stood at Rs 74 crore, with PAT margin at 10 per cent. In its November earnings call, the company management said it expects a gradual improvement in operating performance over the coming quarters as new capacities move closer to commissioning.
The management in November noted that the DME plant at Unit 4 and the N-Methyl Morpholine projects were progressing well and were expected to be commissioned during FY2025-26. The acetonitrile expansion, based on an improved process, was also on track for commissioning in FY2026-27. The company said all ongoing projects were being funded through internal accruals, reflecting its strong balance sheet and prudent financial management.
"Our subsidiary, Balaji Specialty Chemicals Limited is making steady progress on its Rs 750 crore expansion plan, which has been granted mega project status under the Maharashtra government's Package Scheme of Incentives 2019. The expansion encompasses a wide range of specialty products, including hydrogen cyanide, sodium cyanide, and EDTA and EDTA-2Na among others."
"The Unit 1 brownfield expansion for EDA-based products is expected to be commissioned by September 2026, while the Unit 2 greenfield project at Chincholi is progressing with equipment installation underway and expected commissioning by December 2026," the management said in its Q2 earnings call.
Shares of Balaji Amines Ltd climbed 14 per cent on Thursday after the Directorate of Industries, Government of Maharashtra, issued an eligibility certificate for expansion of its unit under the investment-based Mega Projects scheme. Balaji Amines rose 13.74 per cent to close at Rs 1,219.90 apiece. Despite the jump, the smallcap stock is still down 35.85 per cent over the past six months.
In an exchange filing, Balaji Amines said it has become eligible for entitlements under the Industrial Promotion Subsidy worth Rs 258 crore. The benefits included subsidy to the extent of 50 per cent of State GST payable on the sale of eligible finished products in Maharashtra, exemption from electricity duty, and 100 per cent exemption from payment of stamp duty for a period of seven years.
The eligible period for these incentives runs from January 1, 2024, to December 31, 2030, in line with a government notification issued by the Revenue and Forest Department.
For H1FY26, Balaji Amines' consolidated revenue stood at Rs 715 crore and Ebitda at Rs 131 crore, translating into an Ebitda margin of 18 per cent. PAT for the half year stood at Rs 74 crore, with PAT margin at 10 per cent. In its November earnings call, the company management said it expects a gradual improvement in operating performance over the coming quarters as new capacities move closer to commissioning.
The management in November noted that the DME plant at Unit 4 and the N-Methyl Morpholine projects were progressing well and were expected to be commissioned during FY2025-26. The acetonitrile expansion, based on an improved process, was also on track for commissioning in FY2026-27. The company said all ongoing projects were being funded through internal accruals, reflecting its strong balance sheet and prudent financial management.
"Our subsidiary, Balaji Specialty Chemicals Limited is making steady progress on its Rs 750 crore expansion plan, which has been granted mega project status under the Maharashtra government's Package Scheme of Incentives 2019. The expansion encompasses a wide range of specialty products, including hydrogen cyanide, sodium cyanide, and EDTA and EDTA-2Na among others."
"The Unit 1 brownfield expansion for EDA-based products is expected to be commissioned by September 2026, while the Unit 2 greenfield project at Chincholi is progressing with equipment installation underway and expected commissioning by December 2026," the management said in its Q2 earnings call.