Balaji Amines has turned 10,000 to five lakh in just 10 years


New Delhi: Shares of Balaji Amines have made its investors rich in the last 10 years. During this period, the company’s shares have gained almost 50 times. If ten years ago someone would have invested Rs 10,000 in this company, today his investment would be worth Rs 5 lakh. Shares of this BSE500 company have given 724% return in the last three years. The company, which manufactures methylamines, ethylamines, specialty chemicals and natural products, has a market cap of Rs 7,100 crore. It supplies to pharma and pesticide companies of the country and the world. It has an EPS of 70.23 on TTM basis and is currently trading at 5.12 PB. On Friday, it closed at Rs 2,206.00 on the NSE, up 2.30 per cent.

As per the latest shareholding pattern, the promoters hold 53.70 per cent stake in the company while 46.30 per cent is held by public shareholders. In this, foreign investors have 3.87 percent stake and retail investors have about 36 percent stake. The company’s revenue fell 40 per cent to Rs 471 crore in the quarter ended March. During this period, the company’s profit after tax also remained at Rs 47.4 crore, which is half as compared to the previous quarter.

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What should investors do?

Analysts say that it is currently showing bullish signs and if it sustains above the support level, then it may gain further momentum. Vaibhav Kaushik, Research Analyst, GCL Broking says that Balaji Amines stock is trading near its trend line support. It has shown a bullish trend on the daily chart. If it sustains above Rs 2,120, it can touch the 200 double exponential moving average which is at Rs 2,468.

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