Fine Organic Inds.

₹4414.1 198.2 | 4.7%

WEBSITE BSE:541557 NSE : FINEORG 10 May, 16:01

Market Cap ₹13534 Cr.

Stock P/E 32.9

P/B 7

Current Price ₹4414.1

Book Value ₹ 626.6

Face Value 5

52W High ₹5160

Dividend Yield 0.23%

52W Low ₹ 4005

Edit Ratio

Fine Organic Inds. Research see more...

Overview Inc. Year: 2002Industry: Chemicals

Fine Organic Industries Ltd manufactures, strategies, resources, distributes, and imports oleochemical-based additives in India and across the world. It offers food components, which include emulsifiers, antifungal components, and other speciality additive blends; plastic components, such as dispersing retailers, processing aids, anti-stats, glide improvers, lubricants, mildew release retailers, slip sellers, and antifogging additives for polymers, polymer compounds and masterbatches, foamed products, PVC products, and engineering plastics; cosmetics and pharmaceuticals components; coating additives; and components for different speciality application in numerous industries. The agency was founded in 1970 and is situated in Mumbai, India.

Fine Organic Inds. Share Price

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Price

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Peer Comparison

Fine Organic Inds. Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Net Sales	463	617	748	919	760	597	547	540	488	547
Other Income	7	14	17	19	15	13	14	17	17	23
Total Income	470	631	764	939	775	610	562	558	506	570
Total Expenditure	384	457	533	665	599	394	406	409	370	403
Operating Profit	86	174	231	273	175	215	156	148	136	166
Interest	1	1	1	1	1	1	1	1	1	1
Depreciation	10	11	11	12	12	13	12	14	15	15
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	-1
Profit Before Tax	75	162	219	260	162	201	143	133	120	150
Provision for Tax	23	40	59	58	55	51	43	29	25	35
Profit After Tax	52	122	160	203	107	150	101	104	95	115
Adjustments	0	-0	-0	-0	-1	-1	-1	-1	-1	-0
Profit After Adjustments	52	122	160	203	106	149	100	103	94	115
Adjusted Earnings Per Share	17	39.7	52.1	66.1	34.6	48.7	32.5	33.7	30.7	37.4

Fine Organic Inds. Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	496	567	615	660	779	856	1060	1038	1133	1876	3023	2122
Other Income	2	7	2	9	4	16	24	23	17	33	64	71
Total Income	498	574	617	669	783	872	1084	1061	1150	1909	3087	2196
Total Expenditure	445	459	501	514	634	697	827	798	934	1512	2192	1588
Operating Profit	53	116	116	155	149	174	258	264	216	397	895	606
Interest	10	11	8	8	4	3	6	8	6	5	5	4
Depreciation	11	11	23	30	24	20	17	35	47	40	48	56
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0	-1
Profit Before Tax	31	95	86	117	121	151	234	216	162	352	841	546
Provision for Tax	10	33	29	41	43	56	95	51	42	92	223	132
Profit After Tax	21	62	57	76	78	95	140	165	120	260	618	415
Adjustments	0	0	0	0	0	0	-3	-0	-0	-0	0	-3
Profit After Adjustments	21	62	57	76	78	95	136	165	120	260	618	412
Adjusted Earnings Per Share	7.2	21.3	19.7	26.3	26.9	31.1	44.4	53.7	39.2	84.7	201.6	134.3

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	61%	43%	29%	20%
Operating Profit CAGR	125%	50%	39%	33%
PAT CAGR	138%	55%	45%	40%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-3%	11%	26%	NA%
ROE Average	49%	33%	32%	32%
ROCE Average	65%	42%	41%	37%

Fine Organic Inds. Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	98	159	194	254	328	396	500	619	731	959	1541
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	66	87	55	52	0	0	93	91	57	25	0
Other Non-Current Liabilities	1	1	-1	-3	-4	-5	4	1	-4	-7	-10
Total Current Liabilities	90	93	126	113	116	134	105	134	155	251	265
Total Liabilities	256	340	375	416	441	525	702	845	940	1228	1796
Fixed Assets	75	70	124	125	97	88	78	217	196	229	214
Other Non-Current Assets	6	76	41	40	63	103	190	104	123	110	162
Total Current Assets	175	194	210	251	281	333	434	524	620	888	1420
Total Assets	256	340	375	416	441	525	702	845	940	1228	1796

Fine Organic Inds. Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	2	8	9	3	40	14	11	108	206	259	226
Cash Flow from Operating Activities	49	2	80	114	45	65	98	219	134	67	485
Cash Flow from Investing Activities	-10	-29	-65	-28	-16	-52	-93	-85	-40	-56	-85
Cash Flow from Financing Activities	-33	28	-20	-56	-55	-17	92	-37	-41	-68	-69
Net Cash Inflow / Outflow	6	1	-6	30	-26	-3	97	98	53	-58	332
Closing Cash & Cash Equivalent	8	9	3	44	14	11	108	206	259	226	515

Fine Organic Inds. Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	7.21	21.31	19.69	26.29	26.87	31.09	44.43	53.74	39.24	84.67	201.6
CEPS(Rs)	11.13	24.97	27.51	36.58	35.05	37.63	51.23	65.05	54.5	97.72	217.22
DPS(Rs)	0	0	15	22.5	22.5	7	7	7	11	9	9
Book NAV/Share(Rs)	33.67	54.97	66.83	87.7	113.2	129.02	163.16	201.86	238.55	312.85	502.69
Core EBITDA Margin(%)	9.85	18.29	17.7	21.04	17.76	18.25	21.98	23.08	17.55	19.27	27.45
EBIT Margin(%)	7.96	17.7	14.49	18.05	15.34	17.78	22.6	21.51	14.82	18.84	27.93
Pre Tax Margin(%)	5.95	15.93	13.3	16.85	14.81	17.41	22.03	20.74	14.28	18.58	27.78
PAT Margin (%)	4.02	10.4	8.86	10.99	9.54	10.98	13.14	15.82	10.6	13.73	20.42
Cash Profit Margin (%)	6.2	12.19	12.38	15.29	12.45	13.29	14.78	19.14	14.72	15.84	22
ROA(%)	8.17	20.72	15.97	19.28	18.18	19.74	22.75	21.3	13.48	23.96	40.88
ROE(%)	21.42	48.07	32.34	34.03	26.75	26.35	31.17	29.45	17.82	30.72	49.44
ROCE(%)	20.06	43.98	32.87	38.33	34.53	37.75	44.57	32.67	21.52	38.78	65.39
Receivable days	39.12	40.65	46.98	46.84	44.54	54	51.88	50.43	47.24	44.67	39.3
Inventory Days	43.28	35.65	33.66	37.02	37.66	38.11	30.64	38.7	41.44	34.9	41.03
Payable days	43.91	53.34	54.85	51.77	44.21	45.19	35.82	43.41	47.86	39.94	34.62
PER(x)	0	0	0	0	0	0	27.83	35.39	58.17	47.41	21.36
Price/Book(x)	0	0	0	0	0	0	7.58	9.42	9.57	12.83	8.57
Dividend Yield(%)	0	0	0	0	0	0	0.57	0.37	0.48	0.22	0.21
EV/Net Sales(x)	0.21	0.19	0.17	0.1	0.03	0.07	3.59	5.53	6.02	6.47	4.2
EV/Core EBITDA(x)	2.01	0.93	0.9	0.41	0.18	0.32	14.79	21.78	31.54	30.54	14.2
Net Sales Growth(%)	0	14.25	8.38	7.32	18.1	9.84	23.9	-2.1	9.16	65.57	61.12
EBIT Growth(%)	0	153.71	-11.21	34.09	0.04	23.29	55.62	-6.7	-24.91	111.83	137.21
PAT Growth(%)	0	195.48	-7.56	33.49	2.21	22.41	46.45	18.05	-26.98	115.81	138
EPS Growth(%)	0	195.48	-7.56	33.49	2.21	15.71	42.9	20.96	-26.98	115.76	138.09
Debt/Equity(x)	1.12	0.7	0.53	0.4	0.12	0.14	0.26	0.2	0.12	0.06	0.02
Current Ratio(x)	1.94	2.08	1.66	2.22	2.41	2.48	4.12	3.91	4	3.54	5.37
Quick Ratio(x)	1.25	1.5	1.15	1.55	1.62	1.82	3.27	2.93	3.19	2.6	3.68
Interest Cover(x)	3.96	9.98	12.12	15.06	28.52	48.93	39.62	28.08	27.45	72.14	184.87
Total Debt/Mcap(x)	0	0	0	0	0	0	0.03	0.02	0.01	0	0

Fine Organic Inds. Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	75	75	75	75	75	75	75	75	75	75
FII	7.26	7.25	7.2	6.74	5.91	4.83	3.78	3.78	3.59	4.47
DII	11.21	11.64	10.94	10.92	11.51	12.09	12.24	12.17	11.85	10.76
Public	6.53	6.11	6.86	7.34	7.58	8.08	8.98	9.05	9.57	9.77
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	2.3	2.3	2.3	2.3	2.3	2.3	2.3	2.3	2.3	2.3
FII	0.22	0.22	0.22	0.21	0.18	0.15	0.12	0.12	0.11	0.14
DII	0.34	0.36	0.34	0.33	0.35	0.37	0.38	0.37	0.36	0.33
Public	0.2	0.19	0.21	0.23	0.23	0.25	0.28	0.28	0.29	0.3
Others	0	0	0	0	0	0	0	0	0	0
Total	3.07	3.07	3.07	3.07	3.07	3.07	3.07	3.07	3.07	3.07

Pros

Company has delivered good profit growth of 45% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 33%
Debtor days have improved from 39.94 to 34.62days.
Company has reduced debt.
Company is almost debt free.

Cons

Stock is trading at 7 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.