Balaji Amines slips 6%, hits 52-week low on disappointing Q3 results

The company said the fall in operating margin was primarily on account of de-growth in pharma and API sector

Shares of Balaji Amines hit a 52-week low of Rs 2,161.35, falling 6 per cent on the BSE in Tuesday's intra-day trade, after the company reported a weak operational performance in the December quarter. The consolidated earnings before interest, tax, depreciation, and amortisation (Ebitda) declined 582 bps to 22.14 per cent, with the company attributing the fall in operating margin to de-growth in pharma and API sector.

In Q3FY23, the company's revenue from operations grew 3.48 per cent to Rs 588 crore from Rs 569 crore in Q3FY22. Total sales volumes were up 2.02 per cent at 28,147 MT