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Fine Organic Industries Ltd

FINEORG NSE

Key Fundamentals

SmallcapSpecialty ChemicalsChemicals
Market Cap
₹15,676 Cr
Volatility
Moderate
P/E Ratio
35.64
EBITDA
₹600 Cr
Return on Equity
15.65%
Debt to Equity
0.03
Book Value
₹869.06
EPS
₹138.88
52W High
₹5,407
52W Low
₹3,856

Insights

Beta

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

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53 extracted metrics + investor summaries across FY15–FY26.

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Tapetide Score

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

Technical Indicators

Key Insights

Strengths

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

Growth Rate

Revenue Growth
4.89% ↘
Net Income Growth
1.61% ↘
Cash Flow Change
110.59% ↗
ROE
-12.47% ↘
ROCE
-17.31% ↘
EBITDA Margin (Avg.)
-6.36% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 5d ago
AI opinion · based on fundamentals
Risk medium

Fine Organic Industries is an almost debt-free specialty oleochemicals manufacturer with a market cap of ~₹16,010 crore, trading at a PE of 36.8x. The company delivered FY25 consolidated revenue of ₹2,269 crore (up ~7% YoY) and PAT of ₹410 crore (margin 13.6% consolidated), while undertaking a ₹750 crore greenfield SEZ capex expected to drive meaningful revenue contribution from FY28 onwards.

Bull Case 8
  • Virtually debt-free balance sheet provides financial flexibility for the ₹750 crore SEZ capex without significant leverage risk
  • High promoter holding at 75% signals strong insider conviction and alignment with minority shareholders
  • Global oleochemicals market growing at a CAGR of 6-7% through 2034 provides a structural demand tailwind for the company's product portfolio
  • 3-year average ROE of 19.5% and 5-year ROE of 25% demonstrate consistent capital efficiency well above cost of equity
  • New JNPA SEZ plant has peak revenue potential of ~₹2,600 crore (asset turnover of 3.5x on ₹750 crore investment), which could more than double current standalone revenue
  • Q2 FY25 standalone EBITDA grew 37% YoY and PAT grew 43% YoY, showing strong operational leverage when volumes recover
  • 5-year compounded profit CAGR of 28% demonstrates long-term earnings growth capability through commodity cycles
  • US subsidiary and UAE logistics setup diversify geographic presence and improve supply chain efficiency for export markets
Bear Case 8
  • PE of 36.8x is elevated relative to specialty chemicals peers, leaving limited margin of safety if growth disappoints
  • 3-year compounded sales CAGR of -8% and profit CAGR of -13% reflect vulnerability to raw material price deflation and volume cyclicality
  • FY25 consolidated EBITDA margin of 17.7% is significantly lower than the 25.3% achieved in Q1 FY27, indicating margin volatility linked to input costs
  • ROE declined from 25% (5-year average) to 16% in the last year, indicating near-term return compression as capital is deployed in expansion
  • SEZ capex of ₹750 crore spread over FY25-28 will increase depreciation and interest costs, potentially causing EPS decline in FY27 before revenue contribution begins in FY28
  • Dividend yield of just 0.21% offers minimal income return, implying the stock is priced entirely for capital appreciation
  • FY24 revenue declined 29.8% YoY (from ₹3,023 crore to ₹2,123 crore), demonstrating the cyclical nature of oleochemical pricing
  • Existing plants running at near-full capacity utilization limits organic growth until the new SEZ facility comes online in FY28

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

AI News Digest

Anthropic anthropic claude-opus-4.6 19h ago
Positives 4
  • Q1 profit surges 46% YoY Aug 10

    Net profit rose 46% YoY to ₹135.5 crore in Q1FY27, with revenue growing 18% to ₹694.2 crore and EBITDA up 42% to ₹176 crore on margin expansion to 25.3%.

  • Strong export mix at 60% Aug 10

    Exports contributed 60% of Q1FY27 revenue, providing geographic diversification and foreign currency earnings.

  • ₹11 final dividend recommended Jul 27

    Board recommended ₹11 per share final dividend for FY26, with AGM scheduled for Aug 18 and e-voting opening Aug 13.

  • Insurance settlements finalized Aug 10

    Company finalized insurance settlements for past property damages, removing an overhang on financials.

Neutral 1
  • FY26 BRSR report filed Jul 27

    Fine Organic submitted its Business Responsibility and Sustainability Report for FY26, covering ESG metrics and governance disclosures.

TL;DR: Fine Organic delivered a strong Q1FY27 with profit up 46%, healthy margin expansion to 25.3%, and robust export contribution at 60% of revenue. No material headwinds are visible in recent news flow. The trend is clearly improving with operating leverage kicking in, though sustaining 25%+ margins amid raw material and utility cost volatility remains worth monitoring going forward.

Quarterly Results

  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 in Rs
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

  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 in Rs
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

  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

  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

  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%

Shareholding Pattern

As of Jun 2026
Promoters 75.00%
DIIs 11.72%
Public 7.58%
FIIs 4.28%
Others 1.42%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
3.78%
3.59%
4.47%
4.94%
4.89%
5.22%
4.66%
4.81%
4.57%
4.43%
4.40%
4.28%
DIIs
13.20%
10.46%
10.14%
10.40%
10.83%
10.35%
10.50%
11.51%
12.09%
12.24%
12.17%
11.85%
10.76%
11.13%
11.57%
11.52%
12.04%
11.94%
12.02%
11.80%
11.65%
11.72%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
3.96%
5.07%
5.14%
4.95%
5.03%
5.74%
6.05%
6.32%
6.75%
7.58%
7.71%
8.21%
8.44%
7.63%
7.26%
6.94%
7.07%
6.98%
7.10%
7.44%
7.53%
7.58%
Others
7.85%
9.46%
9.72%
9.65%
9.14%
8.91%
8.45%
7.17%
6.16%
5.18%
1.34%
1.36%
1.33%
1.29%
1.29%
1.33%
1.24%
1.28%
1.31%
1.33%
1.42%
1.42%
No. of Shareholders
42,044
53,650
55,594
56,185
61,413
81,333
96,367
1,10,677
1,16,910
1,34,261
1,35,252
1,41,370
1,46,686
1,31,494
1,22,482
1,15,433
1,12,554
1,05,097
97,992
93,942
88,948
83,591

Documents

1
Concall - Aug 2018 Aug 2018
2
Concall - Nov 2018 Nov 2018
3
Concall - Feb 2019 Feb 2019
4
Concall - May 2019 May 2019
5
Concall - Aug 2019 Aug 2019

Frequently Asked Questions about Fine Organic Industries Ltd

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 is listed on the Indian stock exchanges. It is listed on NSE: FINEORG and BSE: 541557. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Fine Organic Industries Ltd belong to?
Fine Organic Industries Ltd operates in the Chemicals sector within the Specialty Chemicals industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Fine Organic Industries Ltd?
Fine Organic Industries Ltd has a market capitalisation of approximately ₹15675.53 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Fine Organic Industries Ltd?
The Price-to-Earnings (PE) ratio of Fine Organic Industries Ltd is 35.64. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Fine Organic Industries Ltd?
Over the past 52 weeks, Fine Organic Industries Ltd has traded between a low of ₹3,856 and a high of ₹5,407. This range helps investors understand the stock's price volatility and recent trading levels.
Does Fine Organic Industries Ltd pay dividends?
Yes, Fine Organic Industries Ltd has a dividend yield of 0.22%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Fine Organic Industries Ltd?
Fine Organic Industries Ltd has a Return on Equity (ROE) of 15.65%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Fine Organic Industries Ltd on Tapetide?
On Tapetide, you can view Fine Organic Industries Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

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
Issued Size 3,06,59,976

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