Fine Organic Industries logo

Fine Organic Industries

FINEORG NSE
₹5,431.00 70.50 (1.28%)
Market Cap
₹16,651 Cr
P/E
38.01

Key Fundamentals

SmallcapSpecialty ChemicalsChemicals
Market Cap
₹16,651 Cr
P/E (TTM)
38.01
EBITDA
₹600 Cr
Return on Equity
15.65%
Debt to Equity
0.03
Book Value
₹869.06
EPS (TTM)
₹142.89
52W High
₹5,666.00
52W Low
₹3,856.00

Price-based figures as of 13 Oct 2026, 15:05 IST · EPS basis: Consolidated · TTM

Peer Comparison

Commodities › Chemicals › Specialty Chemicals

Pidilite Industries
₹1,484.4057.051,51,094 Cr13.961.45%22.36%28.48%15,689 Cr2,677 Cr
SRF
₹2,486.2034.0973,697 Cr5.250.20%13.07%14.64%16,729 Cr2,162 Cr
Gujarat Fluorochemicals
₹4,576.5083.0950,273 Cr6.430.07%7.25%10.13%5,334 Cr600 Cr
Navin Fluorine International
₹8,448.5054.8443,334 Cr10.910.18%16.70%18.66%3,734 Cr789 Cr
Himadri Speciality Chemical
₹658.7541.4033,239 Cr7.060.12%15.86%21.01%5,175 Cr804 Cr
Aether Industries
₹1,717.4096.8622,795 Cr9.280.00%8.94%12.15%1,257 Cr235 Cr
Deepak Nitrite
₹1,616.0028.1422,041 Cr3.780.46%9.38%10.85%8,624 Cr784 Cr
Aarti Industries
₹494.3033.7617,923 Cr3.010.22%7.04%8.53%9,040 Cr531 Cr
Atul
₹6,000.0022.2117,665 Cr2.840.51%10.95%13.54%6,860 Cr811 Cr
Fine Organic Industries (this company)
₹5,431.0038.0116,651 Cr6.250.20%15.65%20.07%2,573 Cr438 Cr
Median 10 companies₹2,101.8039.7128,017 Cr6.340.20%12.01%14.09%6,097 Cr787 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100. How it works →

As of 2026-10-12
v2.0.0
54 Average
Overall score
Data confidence 100/100

Category scores

Quality Strong 72
Returns, margins, earnings quality 22%
Valuation Poor 31
Cheap vs sector & own history 24%
Growth Poor 31
Sales & profit trajectory 9%
Financial Health Strong 90
Solvency, leverage, coverage 9%
Momentum Strong 74
Trend strength, vol-adjusted 12%
Ownership Average 48
FII/DII/promoter flows 24%

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 19.5%

Technical Indicators

Oscillators

BearishNeutralBullish

Bullish

Bearish
0
Neutral
7
Bullish
2

Overall

BearishNeutralBullish

Bullish

Bearish
0
Neutral
7
Bullish
12

Moving Averages

BearishNeutralBullish

Bullish

Bearish
0
Neutral
0
Bullish
10
Analyst Rating
Based on 12 analysts
BUY SHARE83%

10 of 12 analysts rate Buy, 0 Hold, 2 Sell.

Updated 13 Oct 2026

BUY
10
83.3%
HOLD
0
0%
SELL
2
16.7%

Growth Rate

Revenue Growth
4.89% higher than 3Y

change over 1 year

Net Income Growth
1.61% higher than 3Y

change over 1 year

Cash Flow Change
111%

change over 1 year

EBITDA Margin Change
-6.36%

change over 1 year Operating margin 25% · Jun 2026

AI Analysis — Bull vs Bear

Figures as of 7 Oct 2026
AI opinion · based on fundamentals
Risk medium

As of the 2026-10-07 close, Fine Organic Industries trades at ₹5,625.5, giving a market cap of ₹17,247.77 Cr, a TTM P/E of 39.37 and a P/B of 6.47. The price is 0.7% below its 52-week high of ₹5,666. The balance sheet is close to debt-free, with debt-to-equity at 0.03 and ROCE at 20.07%. Sales fell at an 8% compounded rate over the last 3 years and profit at 13%, while TTM growth in both has recovered to 7%. ROE has dropped from 25% (5-year and 10-year) to about 16% last year.

Bull Case 7
  • The balance sheet is close to debt-free, with debt-to-equity of 0.03. That leaves room to fund capacity expansion and handle downturns without much interest burden or refinancing risk.
  • ROCE of 20.07% shows the business still earns well on the capital it uses, even after the recent margin and growth slowdown.
  • The long-term record is solid: compounded sales growth of 14% and profit growth of 18% over 10 years, plus 5-year profit CAGR of 28% and 5-year sales CAGR of 16%.
  • ROE has averaged 25% over both 5 and 10 years and 19% over 3 years. That points to a franchise that has earned high returns across cycles.
  • Both sales and profit are growing again on a TTM basis at 7%, after shrinking over the 3-year period (-8% sales, -13% profit). That suggests the earlier decline may have bottomed out.
  • The stock has gained 12% over 1 year and trades 45.9% above its 52-week low of ₹3,856. It sits within 0.7% of its ₹5,666 high, which shows strengthening market momentum.
  • TTM EPS of ₹142.89 against an implied book value of about ₹870 per share (price ÷ P/B of 6.47) matches the reported ROE of about 15.65%. That suggests earnings quality in line with reported returns.
Bear Case 8
  • At a TTM P/E of 39.37 with TTM profit growth of only 7%, the implied PEG is about 5.6. The valuation is pricing in a much faster recovery than recent growth shows.
  • Over 3 years, sales fell at an 8% compounded rate and profit at 13%. That reflects normalisation from peak margins and pressure on the core business.
  • ROE has fallen from a 5-year and 10-year average of 25% to 16% last year (15.65% current). That is a clear drop in capital efficiency.
  • A P/B of 6.47 against ROE of 15.65% is a rich premium to book for a business whose returns are now well below their historical average.
  • The dividend yield is only 0.2%, roughly ₹11 per share or under 10% of TTM EPS of ₹142.89. Shareholders get little income support at this valuation.
  • The stock's 3-year CAGR is just 2%, against a 5-year CAGR of 9%. The share price has barely compounded over 3 years despite the low-debt profile.
  • The price is within 0.7% of its 52-week high of ₹5,666 and 45.9% above the low of ₹3,856. That leaves little valuation cushion if the earnings recovery stalls.
  • The earnings yield is about 2.5% (inverse of 39.37x P/E). As an oleochemical-based specialty additives maker, the company also has margins exposed to swings in vegetable oil feedstock prices.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

17h ago
Positives 1
  • ₹55 Cr infusion into SEZ subsidiary Sep 16

    Fine Organic subscribed to ₹55 crore of preference shares in its wholly owned subsidiary, Fine Organic Industries (SEZ) Private Limited, to fund its manufacturing setup. This shows continued capex toward expanding capacity.

Neutral 2
  • Back-to-back investor conferences scheduled Sep 16

    The company will attend two in-person investor conferences, one on September 21, 2026 organized by Anand Rathi and one on September 29, 2026 organized by PL Capital. It has uploaded its August 2026 investor presentation for public access.

  • Promoter inter-se share transfer Sep 22

    Promoter Jayen Ramesh Shah acquired 3,06,978 shares from Jayen R Shah HUF through an inter-se transfer with no consideration. Total promoter group holding is unchanged.

TL;DR: Fine Organic's main development this period is the ₹55 crore funding of its SEZ subsidiary, which supports its capacity expansion plans. The other news is routine: an inter-se promoter transfer that leaves group holding unchanged, and two investor conferences on Sep 21 and Sep 29 that point to active engagement with institutional investors. None of these articles flags a specific headwind, though the news flow says nothing about demand, margins or raw material costs. The outlook is steady to slightly positive, and the next things to watch are when the SEZ facility starts commercial production and any guidance shared at the investor meetings.

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹138 Cr −30.4% vs Jun 26
Reported High Mean Low

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
547
540
488
547
550
596
517
607
588
597
555
625
694
Expenses
407
410
371
403
410
446
414
487
466
463
461
496
520
Operating Profit
140
130
117
144
139
150
103
120
123
134
94
129
174
OPM %
26%
24%
24%
26%
25%
25%
20%
20%
21%
22%
17%
21%
25%
Other Income
14
17
17
22
24
22
25
26
47
21
21
35
24
Interest
1
1
1
1
1
0
0
1
1
0
0
3
1
Depreciation
12
14
15
15
12
13
13
15
12
13
14
18
14
PBT
143
132
119
150
151
159
115
130
157
142
101
143
184
Tax %
30%
22%
21%
24%
25%
26%
28%
25%
26%
24%
27%
18%
25%
Net Profit
100
103
94
115
113
117
83
97
117
109
74
117
138
EPS (₹)
32.54
33.71
30.73
37.36
36.94
38.3
26.97
31.68
38.19
35.4
24.11
38.32
45.06
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
660
778
856
1,060
1,038
1,133
1,876
3,023
2,123
2,269
2,366
2,472
Expenses
514
633
697
827
803
935
1,513
2,194
1,591
1,757
1,886
1,941
Operating Profit
146
145
158
234
235
198
363
829
532
512
480
531
OPM %
22%
19%
19%
22%
23%
17%
19%
27%
25%
23%
20%
21%
Other Income
8
4
16
20
20
17
33
64
71
98
124
101
Interest
7
4
3
2
5
6
5
5
2
2
4
4
Depreciation
30
24
20
17
35
47
40
48
57
52
56
58
PBT
117
121
151
234
216
162
352
841
544
555
543
569
Tax %
35%
36%
37%
40%
24%
26%
26%
26%
24%
26%
23%
—
Net Profit
76
78
95
136
165
120
260
618
412
410
417
438
EPS (₹)
158
161
31.09
44.43
53.74
39.24
84.67
202
134
134
136
143
Div. Payout %
29%
9%
23%
16%
13%
28%
11%
4%
7%
8%
8%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
5
5
15
15
15
15
15
15
15
15
15
Reserves
249
323
380
485
604
716
944
1,526
1,906
2,280
2,649
Borrowings
102
40
54
128
125
89
59
29
4
3
68
Other Liabilities
63
76
81
74
108
127
219
237
182
206
266
Total Liabilities
419
445
530
702
852
948
1,236
1,807
2,108
2,504
2,999
Fixed Assets
125
97
88
78
217
196
229
214
268
363
388
CWIP
6
3
32
106
6
26
14
40
30
27
64
Investments
0
11
11
10
33
31
31
39
36
35
38
Other Assets
289
334
399
508
597
694
962
1,513
1,774
2,078
2,508
Total Assets
419
445
530
702
852
948
1,236
1,807
2,108
2,504
2,999
Figures in ₹ Crores

Cash Flow

Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
—
45
65
98
219
134
67
485
635
204
430
Investing
—
-16
-52
-93
-85
-40
-32
-128
-396
-675
-430
Financing
—
-55
-17
92
-37
-41
-68
-69
-59
-35
0
Net Cash Flow
—
-26
-3
97
98
53
-33
289
180
-506
-1
Free Cash Flow
—
34
13
5
146
88
6
405
549
77
288
CFO/OP
—
65
73
79
119
89
41
86
148
68
116
Figures in ₹ Crores

Ratios

Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
49
52
62
54
47
52
59
42
54
54
54
Inventory Days
72
68
58
50
79
63
72
91
78
100
104
Days Payable
50
47
46
30
51
49
47
36
41
43
45
Cash Conversion Cycle
71
72
75
74
74
66
84
97
91
111
113
Working Capital Days
80
69
80
76
63
65
79
76
77
104
92
ROCE %
—
35%
38%
44%
32%
22%
39%
65%
31%
26%
21%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Fine Organic Industries insights

63 extracted metrics + investor summaries across FY15–FY27.

Log in — free

Shareholding Pattern

Others1.42%Promot.75.00%FIIs4.28%Public7.58%DIIs11.72%As ofJun 2026

Documents

1
Concall - Aug 2026 Aug 2026
2
Concall - May 2026 May 2026
3
Concall - Mar 2026 Mar 2026
4
Concall - Feb 2026 Feb 2026
5
Concall - Nov 2025 Nov 2025

Frequently Asked Questions about Fine Organic Industries

What does Fine Organic Industries Ltd do?
Fine Organic Industries is engaged in and outside India as manufacturers, processors, suppliers, distributors, dealers, importers, exporters of wide range of oleochemical-based additives used in foods, plastics, cosmetics, coatings and other specialty application in various industries.
Where is Fine Organic Industries Ltd (FINEORG) listed?
Fine Organic Industries Ltd trades as FINEORG on the NSE and under code 541557 on the BSE.
Which sector does Fine Organic Industries Ltd belong to?
Fine Organic Industries Ltd is classified under the Chemicals sector, in the Specialty Chemicals industry.
What is the market capitalisation of Fine Organic Industries Ltd?
Fine Organic Industries Ltd has a market capitalisation of ₹16,651 Cr as of 13 Oct 2026, which places it in the Mid Cap band.
What is the PE ratio of Fine Organic Industries Ltd?
Fine Organic Industries Ltd trades at a PE ratio of 38.01 as of 13 Oct 2026, on earnings per share of ₹142.89, against a book value of ₹869.06 per share.
What is the 52-week high and low of Fine Organic Industries Ltd?
Over the last 52 weeks Fine Organic Industries Ltd has traded between ₹3,856 and ₹5,666 as of 13 Oct 2026.
Does Fine Organic Industries Ltd pay dividends?
Fine Organic Industries Ltd has a dividend yield of 0.20%.
What is the Return on Equity (ROE) of Fine Organic Industries Ltd?
Fine Organic Industries Ltd reported a return on equity of 15.65%. Its debt-to-equity ratio is 0.03.

Company Information

Fine Organic Industries is engaged in and outside India as manufacturers, processors, suppliers, distributors, dealers, importers, exporters of wide range of oleochemical-based additives used in foods, plastics, cosmetics, coatings and other specialty application in various industries.

Website fineorganics.com
CEO Mr. Mukesh Maganlal Shah
Employees 869
Listed 2018-07-02
Face Value ₹ 5
Shares Outstanding 3,06,59,976

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/FINEORG.md for Fine Organic Industries Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our Indian stock market MCP server.

Explore More

More in Chemicals → FII DII Data Stock Screener Nifty 50 Heatmap F&O Ban List