Balaji Amines’ first phase of di-methyl amine hydrochloride (DMAHCL) unit, with an installed capacity of 7,500 tonnes per annum, was commissioned in February 2013. And the second plant, for making dimethyl formamide (DMF), with an installed capacity of 30,000 tonnes per annum, went on stream in March 2013. Balaji Amines is known for producing speciality chemicals like N-methyl 2 Pyrrolidone (NMP), which has good solvency properties. It has patented the manufacturing process of PVP (poly-vi- nyl-pyrrolidone) K 30 (used as binder in pharmaceutical tablets) and morpholine (used as an additive in power plants and refineries), which are money spinners for the company.
In November 2013, Balaji’s 129-room, five-star hotel – Balaji Sarovar Premiere – has opened its doors in Sholapur. The hotel is being operated by
Anil Madhav’s Sarovar group of hotels.
The current market cap of the company is 7318 crore. The promoters hold 54.39 per cent of the stake in the company.
Balaji has expressed concern that, besides the European Union, countries like China and the US have been dumping morpholine, which has impacted the company. Yet another of its products facing dumping “ problems is PVP K 30. The company says China has been dumping this chemical in large quantities. Incidentally, Balaji’s PVP K 30’s manufacturing facility has received certificate of suitability from the European Union, which will enable the company to export PVP K 30 to the European Union.
Balaji has received the REACH (registration, evaluation, authorisation and restriction of chemicals) certificate for four of its products namely, triethylamine, gamma- butyro-lactone, n-ethyl-2-pyrrolidone (NEP) and n-methyl 2 pyrrolidone (NMP), which enables the company to increase exports to Europe. REACH, a European legislation, came into effect from 1 June 2007. It places the responsibility of demonstrating the safety of the products on the chemical industry. ♦
20 YEARS AGO
Losing sleep over inflation
The rate of inflation as measured by the point-to- point changes in the Wholesale Price Index stubbornly refuses to go below the 11 per cent level. The latest figure available, for the week ended 18 February, puts it at 11.49 per cent. The CPI inflation in February was 9.8 per cent.
CEd The annual rate of inflation, based on monthly WPI, stood at – 2.33 per cent in March 2015, as compared to March 2014. CPI (general index) on the contrary rose 5.17 per cent in March 2015. In February and Ianuary; the increase was 5.37 per cent and 5.19 per cent.