Seeing better future for exports, says Balaji Amines

Chemical maker Balaji Amines reported a weak set of third-quarter earnings. D Ram Reddy, joint MD of the company, spoke to CNBC-TV18 about the company's financial performance.

Speaking about specialty chemicals business, Reddy said, “It has commissioned in this week only. Probably by month-end or by February end we will be in a position to give some turnover from this specialty chemicals business.”

In terms of methanol pricing, Reddy said, “Even if you take the year-on-year (YoY) basis for the nine months, we have done almost 15 percent growth in the turnover and 13-14 percent in the profit after tax (PAT) but if you take this particular quarter, we have not done very well because of the methanol prices because there was a very large volatility in the prices. It went from Rs 24 to Rs 38, again it has come down to Rs 20 and now it again has gone to Rs 26. Because of this any industry is not in a position to have any long-term contracts for the purchase of methanol. Earlier we used to fix up the prices for the period of two-three months, now we are just a little alert and taking it only for 15 days, one month. I think this quarter, it should not go beyond Rs 24-25.”