i. Balaji Speciality Chemicals are the sole manufacturer in India of niche chemicals such as Ethylenediamine, Piperazine (Anhydrous), Diethylenetriamine, Amino Ethyl Ethanol Amines and Amino Ethyl Piperazine, using the Monoethanol Amine (“MEA”) process. The chemicals they manufacture are import substitutes and are used in various end-use industries such as speciality chemicals, agrochemicals, and pharmaceuticals. They commenced commercial production in June 2019 from their manufacturing facility located at Solapur, Maharashtra and have since scaled the operations, grown the brand and customer base to become one of the fastest growing speciality chemicals companies in India

ii. They are a subsidiary of Balaji Amines Limited (“BAL”), one of the leading manufacturers of aliphatic amines in India. BAL specializes in manufacturing of methylamines, ethylamines, derivatives of specialty chemicals and pharma excipients. The key products manufactured by BAL include Monomethyl Amine, Dimethyl Amine, and Trimethyl Amine and which are used in pharmaceutical and agrochemical industries with various end use application including corrosion control, photographic chemicals, solvents, and corrosion inhibitors amongst others.

iii. The global market for their portfolio of Ethylenediamine, Piperazine, Diethylenetriamine, Amino Ethyl Ethanol Amines and Amino Ethyl Piperazine is expected to grow from 1,078 kilo tons (“KT”) in Fiscal 2022 to 1,570 KT by Fiscal 2028, growing at a CAGR of 6.5%. The global market for these products is presently valued at US$ 2.2 billion and is expected to grow at 6.9% CAGR to US$ 3.3 to 3.4 billion by Fiscal 2028.

iv. They have focused on products based on certain criteria:

(i) manufactured for the first time in India;
(ii) import substitutes;
(iii) continuous process technology,
(iv) high export potential;
(v) multiple high growth application areas such as speciality chemicals, pharma and agrochemicals; and
(vi) commodity raw materials.

Competitive Strengths

i. Well-positioned to capture industry tailwinds
ii. Rapidly developed a diversified global and Indian customer base
iii. Ability to leverage research and development capabilities and strategic guidance from Balaji Amines Limited

To be updated shortly

To be updated shortly

To be updated shortly