D Ram Reddy, managing director (MD) of Balaji Amines, on Friday said that the speciality chemical industry in India is gaining due to 'China Plus One’ strategy.
As the stock of Balaji Amines went up over 13 percent this week and 300 percent in 2021, the firm’s managing director D Ram Reddy on August 27 said the speciality chemical industry in India is gaining due to the 'China Plus One’ strategy.
In an interview with CNBC-TV18, Reddy said, “The current situation in the country for the chemical industry, not only Balaji, is because of the problems in China. Therefore, all products are in demand. In today's news, we see that there is labour shortage in the Chinese factories because of COVID-19 in various parts of the country.”
Speaking about growth, he said, Balaji Amines should end up with more than Rs 1,800 crore revenue, if the consolidated basis is taken.
“Margins, in the last financial year we did 30 percent EBITDA, but even if something goes wrong, we should be at 26 percent (this year) definitely,” he added.
For the entire management interview, watch the video