We maintain Buy on Balaji Amines and value BLA at 17.0x FY20E EPS with a target price of Rs 725/share. Balaji Amines (BLA) reported a strong 4QFY18 with Sales/EBITDA/PAT growing by 33.0%/23.3%/93.4% YoY to Rs 2.56 bn/ Rs 469 mn/ Rs 332 mn respectively. Sales growth of 33.0%, was driven by 10.0% volume growth