Shares of Balaji Amines Ltd. snapped an eight-session losing streak and surged nearly 16% on Wednesday to the highest in over two months after the manufacturer of methyl and ethyl amines reported a 31% jump in the consolidated net profit in the fourth quarter of financial year 2024.
Balaji Amines Q4 Earnings Highlights (Consolidated, YoY)
Revenue down 12% to Rs 413.9 crore versus Rs 471.4 crore.
Ebitda up 4.9% to Rs 97.7 crore vs Rs 93.1 crore.
Margin expands to 23.6% vs 19.75%.
Net profit up 31% to Rs 72.5 crore vs Rs 55.2 crore.
On the NSE, the stock rose as much as 15.96% during the day to Rs 2,424 apiece, the highest since March 6. It was trading 10.39% higher at Rs 2,307.50 per share, compared to a 0.16% advance in the benchmark Nifty 50 at 2:28 p.m.
The stock had fallen nearly 7% in its eight-session fall. It has declined 13.8% on a year-to-date basis and 9.22% in the last 12 months. Total traded volume on the NSE so far in the day stood at 8.34 times its 30-day average. The relative strength index was at 59.12.
Four out of the five analysts tracking the company have a 'buy' rating on the stock and one suggests 'sell,' according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 17.1%.
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