Balaji Amines shares plummet 18%, hit 52-week low on weak Q4 earnings

Balaji Amines’ stock fell by over 18%, hitting a 52-week low, following its Q4FY23 earnings report which showed a 56% YoY drop in net profit. The revenue from operations for the Jan-Mar quarter stood at Rs 471.39 crore, down nearly 40% YoY, resulting in the stock trading at a 50% discount from its 52-week high. The stock has given negative returns of over 29% in a 12-month period, underperforming the Nifty50’s 15% returns. The company’s FY23 PAT was Rs 405.68 crore, compared to Rs 417.90 crore in FY22.