Fineotex Chemical Limited Registers PAT Growth of 295%

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Fineotex Chemical Limited

26 Apr, 2021, 12:44 IST

The Company announced consecutive robust annual growth in the fourth quarter ended March 2021 

MUMBAI, India, April 26, 2021 /PRNewswire/ -- Fineotex Chemical founded in 1979 is one of India's largest and most progressive speciality textile chemical manufacturers. The company majorly manufactures for the entire value chain of the Textile Industry including pretreatment, dyeing, printing, etc. has secured a robust growth in its annual result ending March 2021

HIGHLIGHT OF CONSOLIDATED RESULTS:

Consolidated Q4-21 (Y-o-Y)

  1. The Revenue from Operations of the Company has increased to Rs. 7502 Lakhs from Rs.  4,358 Lakhs. The Revenue from Operations registered a growth of 72% approx;
  2. The Profit after tax (PAT) of the Company has increased to Rs. 1,195 Lakhs from Rs. (6,13) Lakhs. The PAT registered a growth of 295% approx;
  3. EPS after exceptional items has increased to Rs. 1.01 per share from Rs. (0.57) per share. The EPS registered a growth of 228% approx.

Consolidated Year Ending March 2021 (Y-o-Y)

  1. The Revenue from Operations of the Company has increased to Rs. 21,851 Lakhs from Rs. 19,634 Lakhs. The Revenue from Operations registered a growth of 11% approx;
  2. The Profit after tax (PAT) of the Company has increased to Rs. 4,456 Lakhs from Rs. 1,431 Lakhs. The PAT registered a growth of 211% approx;
  3. EPS after exceptional items has increased to Rs 3.85 per share from Rs. 1.17 per share. The EPS registered a growth of 229% approx.

HIGHLIGHT OF STANDALONE RESULTS:

Standalone Q4-21 (Y-o-Y)

  1. The Revenue from Operation of the Company has increased to Rs. 4,796 Lakhs from Rs. 3041 Lakhs. The Revenue from Operation registered a growth of 58 % approx;
  2. The Profit after tax (PAT) of the Company has increased to Rs. 910 Lakhs from Rs. (658) Lakhs. The PAT registered a growth of 238% approx;
  3. EPS after exceptional Items has increased to Rs. 0.82 per share from Rs. (0.59) per share. The EPS registered a growth of 239 % approx.

Standalone Year Ending March 2021 (Y-o-Y)

  1. The Revenue from Operation of the Company has increased to Rs. 12,948 Lakhs from Rs. 12,885 Lakhs. The Revenue from Operation registered a growth of 0.49 % approx;
  2. The Profit after tax (PAT) of the Company has increased to Rs. 3,599 Lakhs from Rs. 1,078 Lakhs. The PAT registered a growth of 234% approx; 
  3. EPS after exceptional Items has increased to Rs. 3.25 per share from Rs. 0.97 per share. The EPS registered a growth of 235% approx.

Commenting on FCL's robust performance, Mr. Sanjay Tibrewala, Executive Director and CFO, Fineotex Chemical, said, "The ongoing pandemic led to a turbulent year which made us constantly look for solutions to a list of new questions. COVID-19 had a major and wide-ranging impact on the Speciality Chemical sector, compelling us to constantly switch gear. Throughout the last financial year, our primary concern was the safety of our workforce and I would like to thank all the employees, who were always willing to walk the extra mile to ensure the continuity of business and to ensure that our customers are satisfied even during these trying times. I am very happy to announce that despite the pandemic, we have registered a PAT growth of 295% and the company has given a dividend of 0.30 per share which remains highest until now."

He further added, "We are constantly revamping our business model and we are aggressively engaging in various activities including marketing activities that will provide us with the much-needed impetus to continue to reach newer heights and be in sync with India's ever rising demand for Speciality Chemicals."

Highlighting company's strategic initiatives, Ms. Aarti Jhunjhunwala, Executive Director, Fineotex Chemical, said, "We have also forayed into the home care and hygiene segment, thereby entering into our next phase of growth. Our plant has been approved and certified by the Food & Drugs Administration (Maharashtra State) department. Also, we recently launched numerous products across housekeeping, kitchen care and disinfection and have employed stockists and technical marketing associates across East and West India."

She further added, "Our upcoming brownfield facility at Ambernath will be commissioned by the first quarter of FY2022. This will be a state-of-the-art automated unit which will comply with the highest standards of sustainability and boost growth. Also, the company is looking at Deployment of funds in the Project for expansion of about 242 Million."

NSE Symbol FCL | BSE  533333

About Fineotex Chemical Limited:

Fineotex Group was founded in 1979 and is engaged in manufacturing of Specialty Chemicals and Enzymes. Fineotex is one of India's largest and most progressive speciality textile chemical manufacturers. Company manufactures chemicals for the entire value chain for the textile industry including pretreatment, dyeing, printing and finishing process. It also manufactures other chemicals for various industries like agro, adhesives, construction, water treatment etc. With more than 400 products catering to various industries. FCL's key strength lies in strong balance sheet with Zero Debt; High ROE and ROCE, Consistently Dividend paying. Strong Industry knowledge - over three decades of operations, extremely strong brand loyalty and strong R&D capabilities help them increase customization levels of their products.