Balaji Amines Jumps 5% on Anti-Dumping Duty Buzz

Shares of Balaji Amines touched a day high of Rs 2,269.70 on the NSE on Thursday, lifted by anti-dumping duty hopes on key chemical imports.

Ethylene diamine is a chemical building block used across pharma, agrochemicals, resins and coatings. Cheaper imports from China, the European Union, Saudi Arabia and Taiwan had been squeezing local manufacturers on price for a while now.

A trade-remedies probe looked into the matter and confirmed exactly that, then recommended the duty to fix it. The Finance Ministry still has to make the final call before anything becomes official, so this remains a recommendation for now rather than a done deal.

Less competition from underpriced imports usually means better pricing power at home. That’s the bet investors are making here, that Balaji Amines’ margins get some room to breathe once the duty actually comes through and starts limiting how cheap the competing imports can be.

It also helps that the company just posted a strong March quarter. EBITDA rose 58% year-on-year to Rs 94 crore. Margins expanded by 700 basis points to 23.9%, a sizeable jump for a quarter.

Revenue climbed 12% to Rs 395 crore, and net profit jumped 58% as well, landing at Rs 63 crore, helped along by better operating efficiency and a stronger product mix through the quarter.

Balaji Amines is up roughly 101% so far in 2026, a run that’s hard to ignore. The Nifty 50, over the same stretch, is down close to 8%, which makes the stock’s performance stand out even more against a fairly weak broader market.

At 13:40 pm, the stock was trading at Rs 2,203, up 5.4% on the day, against Wednesday’s close of Rs 2,090.20.

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