Mumbai, February 13th, 2025: Fineotex Chemical Limited (“FCL” or “Company”), one of India’s largest multinational specialty performance chemical manufacturer, today announced its unaudited financial results for the third quarter and nine months ended December 31st, 2024.
Performance Highlights (Consolidated) for the third quarter ended December 2024:
- Total Income was ₹130.91 Cr in Q3 FY25 compared to ₹143.39 Cr in Q3 FY24, a slight decline of 9%. The decline in revenue was on account of muted demand in FMCG, one of the key sectors that Company caters to
- Operating EBITDA (excluding other income) stood at ₹34.29 in Q3 FY25
- Operating EBITDA Margin was 27.2% in Q3 FY25
- PAT stood at ₹27.83 Cr in Q3 FY25
Performance Highlights (Consolidated) for the nine months ended December 2024:
- Total Income was ₹430.31 Cr in 9M FY25 compared to ₹428.34 Cr in 9M FY24, a year on year growth of nearly 0.5%
- Operating EBITDA (excluding other income) stood at ₹ 105.94 Cr in 9M FY25
- Operating EBITDA Margin was at 25.62% in 9M FY25
- PAT stood at ₹ 89.08Cr in 9M FY25
Operational Highlights:
- ICRA has upgraded the ratings of the Company, assigning:
A+ (Positive) from Stable to Long Term, Fund Based, and Cash Credit instruments
A+ (Positive) from stable to Long Term / Short Term and Unallocated instruments
Commenting on the overall performance of the Company, Mr. Sanjay Tibrewala, Executive Director, Fineotex Chemical Limited said,
“The Company’s performance for the nine months of FY25 remained stable despite a challenging environment with muted demand in the FMCG space, one of the key sectors that we cater to. Our guidance for revenue and profitability is intact.
Revenue for the quarter was impacted by low volumes due to order postponements by a few customers. However, there has been no loss of customers, as demand fundamentals remain strong. While the FMCG segment experienced lesser demand in the quarter, which we foresee to boost in the forthcoming quarter, the textiles vertical is doing well. In fact in the textiles business, we added 30 new customers in Q3FY25.
As India’s long-term growth trajectory remains intact with growth oriented budget and liquidly boosting by RBI, we are confident of our targets. Our diversification into new products, such as oil & gas and water treatment, is progressing well, with a strong order pipeline expanding across geographies. Additionally, our upcoming plant remains on track and is expected to be operational by Q2FY26, further enhancing our manufacturing capabilities. With innovation at the core of our business, new solutions like AquaStrike Premium reinforce our commitment to sustainability and global market expansion. During the quarter, we developed 15 new products increasing our product offerings.
We remain committed to creating long-term value and will be issuing a dividend, reflecting our confidence in the company’s financial health. We see this slackness as an opportunity to grab the good targets for our inorganic growth opportunities, with our earmarked cash funds of more than ₹300 crores. The outlook remains positive, our revenue and profitability guidance are intact.”
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