The stock of this company exploded, the share price increased by more than 250%


Multibagger Stock Tips: With the Indian markets reaching new record highs, several stocks across sectors have outperformed this year and given multibagger returns. Among them, some chemical stocks have risen more than 150-200% in 2021, more than doubling since the beginning of this year.

Brokerages are bullish on the sector as they expect India’s stake in Specialty Chemicals to double in the next five years. Chemical manufacturing company Balaji Amines is one such stock in the specialty chemical space that has given multibagger returns.

The company’s shares have increased by 260% this year (from the beginning of the year till today) alone. At the same time, a growth of more than 300% has been registered in the last one year. Multibagger stock has risen from around Rs 930 level in January and is currently trading above Rs 3,400 level.

what does this company do
Balaji Amines specializes in the manufacturing of Methylamine, Ethyl Amine, Derivatives of Special Chemicals and Pharma Excipients. It is one of the largest manufacturers of aliphatic amines in India. The company started manufacturing Methyl Amine in the year 1989 and later got involved in manufacturing of Ethyl Amine, Methyl Amine and other derivatives of Ethyl Amine.

The company reported impressive results for the quarter ended June 2021. Balaji Amines more than doubled its net profit to ₹974 million for the first quarter of the current fiscal, while its consolidated total income grew 102% year-on-year during the quarter (YoY) for the June 2020 quarter. up to ₹451 crore as against ₹224 crore in Rs.

The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) grew by 164%, due to the increase in revenue, while the EBITDA margin increased to 31.9% from 24.3% in the year-ago quarter. Management said the improvement in revenue was due to commissioning of its 16,500 tonne ethylmine plant and an additional income stream with better capacity utilisation.

Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Anyone from ABPLive.com Also investing money is never advised here.)

Read also:

Multibagger Stock Tips: Those who bet on these stocks became rich, got returns up to 5000%

Investment Tips: Amazing scheme, you have to deposit Rs 210 every month and you will get a monthly pension of Rs 5000



Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button