Fineotex Chemical

₹344.9 -0.8 | 0.2%

WEBSITE BSE:533333 NSE : FINEOTEX CH 10 May, 16:01

Market Cap ₹3820 Cr.

Stock P/E 33.1

P/B 8.8

Current Price ₹344.9

Book Value ₹ 39

Face Value 2

52W High ₹458

Dividend Yield 0.23%

52W Low ₹ 250.9

Edit Ratio

Fineotex Chemical Research see more...

Analyzing growth opportunities for Fineotex Chemical Limited

Overview Inc. Year: 2004Industry: Chemicals

Fineotex Chemical Ltd is a holding business enterprise. The Company is engaged in the business of manufacturing and trading of chemical substances. The Company operates through 2 segments: Speciality chemicals and Real estate Development. The Company is mainly engaged in the enterprise of producing of auxiliaries and speciality chemical substances. The Company offers various products, which consist of adhesives, construction-chemical compounds, and products for pre-treatment technique, dyeing process, printing method and finishing method. Its products comprises wetting agents cum detergents, silicone and non-silicone type defoamers, non-silicate peroxide stabilizers, neutralizer, polyester weight reducing catalyst, anti-back staining agent, washing off marketers, soda ash substitute, reduction clearing agents, thickeners, white inks, washing off retailers, softener for pigment printing, wax finishing marketers, anticrease resins, anti-pilling cum antislip agent, enzymatic bio-sprucing marketers and yarn lubricants.

Fineotex Chemical Share Price

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Peer Comparison

Fineotex Chemical Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	78	105	121	136	134	109	138	132	145	138
Other Income	1	1	0	1	2	2	2	4	4	5
Total Income	80	106	122	137	137	111	140	136	149	143
Total Expenditure	64	80	100	110	109	81	105	101	107	98
Operating Profit	16	26	22	27	28	30	35	35	42	45
Interest	0	0	0	0	0	0	0	0	0	0
Depreciation	1	1	1	1	1	1	1	1	1	1
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	15	25	21	26	26	29	33	34	40	44
Provision for Tax	4	6	4	6	6	7	7	8	9	11
Profit After Tax	11	19	17	20	21	22	26	26	31	33
Adjustments	-0	-1	-0	-1	-0	-0	-0	-0	-0	-0
Profit After Adjustments	11	18	17	20	21	22	26	26	31	33
Adjusted Earnings Per Share	1	1.7	1.5	1.8	1.9	2	2.3	2.3	2.8	2.9

Fineotex Chemical 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	96	87	102	110	127	141	182	196	219	368	517	553
Other Income	3	3	5	2	10	5	1	2	17	6	7	15
Total Income	98	89	107	112	137	146	183	198	236	374	524	568
Total Expenditure	86	77	85	82	98	111	148	162	178	297	404	411
Operating Profit	12	12	21	30	39	35	35	36	58	77	120	157
Interest	1	0	0	0	0	1	1	1	1	1	1	0
Depreciation	0	0	1	1	1	1	1	1	1	3	4	4
Exceptional Income / Expenses	0	-0	0	0	0	0	0	-13	0	0	0	0
Profit Before Tax	11	11	20	29	38	34	34	22	56	73	115	151
Provision for Tax	3	3	6	9	9	10	9	8	11	16	25	35
Profit After Tax	8	8	15	20	29	24	24	14	45	57	90	116
Adjustments	-1	-1	-2	-3	-3	-1	-2	-1	-2	-2	-1	0
Profit After Adjustments	7	7	13	17	26	23	23	13	43	55	88	116
Adjusted Earnings Per Share	0.6	0.6	1.2	1.5	2.3	2	2	1.2	3.8	5	8	10.3

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	40%	38%	30%	18%
Operating Profit CAGR	56%	49%	28%	26%
PAT CAGR	58%	86%	30%	27%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	35%	61%	57%	58%
ROE Average	29%	26%	20%	20%
ROCE Average	37%	33%	27%	27%

Fineotex Chemical 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	58	65	76	91	112	136	159	170	209	262	349
Minority's Interest	4	4	5	5	7	6	6	6	7	7	7
Borrowings	3	1	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	-0	-0	-0	-0	-0	0	1	0	1	2	3
Total Current Liabilities	17	18	19	18	20	19	29	31	50	68	64
Total Liabilities	81	87	100	114	140	161	195	207	267	339	423
Fixed Assets	12	14	18	19	23	25	32	37	56	80	95
Other Non-Current Assets	7	8	37	45	58	63	54	55	46	28	104
Total Current Assets	62	65	45	50	59	65	101	108	158	225	217
Total Assets	81	87	100	114	140	161	195	207	267	339	423

Fineotex Chemical 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	1	3	12	9	9	7	4	17	23	21	29
Cash Flow from Operating Activities	4	1	14	14	19	6	12	28	9	13	107
Cash Flow from Investing Activities	1	12	-12	-10	-11	-9	4	-19	-7	-1	-102
Cash Flow from Financing Activities	-3	-4	-3	-1	-6	-4	-3	-4	-4	-6	-6
Net Cash Inflow / Outflow	2	9	-1	2	2	-7	13	5	-2	7	-1
Closing Cash & Cash Equivalent	3	12	9	9	8	4	17	23	21	29	30

Fineotex Chemical 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)	0.63	0.58	1.15	1.52	2.32	2.04	2.02	1.17	3.85	4.98	7.97
CEPS(Rs)	0.75	0.72	1.34	1.81	2.67	2.21	2.28	1.39	4.16	5.36	8.47
DPS(Rs)	0.1	0.1	0.1	0.2	0.1	0.2	0.1	0.05	0.3	0.4	0.8
Book NAV/Share(Rs)	5.17	5.77	6.8	8.13	10.11	12.19	14.27	15.25	18.9	23.67	31.46
Core EBITDA Margin(%)	9.42	10.02	15.22	23.69	21.94	20.97	18.89	17.72	18.57	19.34	21.78
EBIT Margin(%)	11.64	12.55	18.94	25.04	28.72	24.13	18.9	11.51	25.9	20.15	22.36
Pre Tax Margin(%)	11.12	12.12	18.64	24.71	28.43	23.73	18.45	11.19	25.57	19.9	22.2
PAT Margin (%)	8.1	8.48	13.47	16.88	21.63	16.77	13.35	7.29	20.39	15.45	17.32
Cash Profit Margin (%)	8.4	8.77	13.93	17.36	22.1	17.22	13.9	7.88	21.07	16.13	18.15
ROA(%)	10.21	9.28	15.55	18.42	22.94	15.95	13.68	7.12	18.79	18.76	23.5
ROE(%)	14.74	12.72	20.69	23.52	28.53	19.31	16.52	8.71	23.51	24.13	29.34
ROCE(%)	18.81	17.44	28.01	33.92	37.14	27.16	22.86	13.54	29.35	31.12	37.3
Receivable days	60.64	76.53	74.47	74.51	74.2	73	77.12	95.72	114.02	95.93	74.94
Inventory Days	38.61	44.8	36.81	34.19	33.42	43.71	46.22	42.92	41.63	43.79	37.73
Payable days	79.22	85.63	80.92	85.25	75.69	60.61	53.07	69.55	82.68	78.44	59.42
PER(x)	2.78	5.1	19.39	21.32	14.75	28.66	20.26	12.6	17.11	36.15	29.21
Price/Book(x)	0.34	0.51	3.28	3.98	3.38	4.79	2.87	0.97	3.48	7.61	7.4
Dividend Yield(%)	2.87	1.69	0.45	0.62	0.29	0.34	0.24	0.34	0.46	0.22	0.34
EV/Net Sales(x)	0.15	0.28	2.37	3.25	2.9	4.59	2.43	0.76	3.2	5.32	4.89
EV/Core EBITDA(x)	1.17	2.01	11.52	11.97	9.4	18.42	12.57	4.12	12.03	25.53	21.08
Net Sales Growth(%)	20.11	-9.58	17.66	7.78	15.57	11.09	29.2	7.68	11.29	68.52	40.4
EBIT Growth(%)	23.9	-0.77	77.45	42.5	31.99	-10.65	-0.08	-34.45	150.48	31.14	55.8
PAT Growth(%)	25.58	-3.65	86.73	35.07	47.45	-17.55	1.53	-41.19	211.37	27.68	57.42
EPS Growth(%)	17.19	-7.61	98.65	31.95	52.79	-12.05	-0.76	-41.94	227.3	29.56	60.06
Debt/Equity(x)	0.11	0.06	0.02	0.03	0.01	0.04	0.01	0.02	0.02	0.01	0.02
Current Ratio(x)	3.71	3.62	2.37	2.74	2.92	3.5	3.43	3.45	3.19	3.3	3.39
Quick Ratio(x)	3.04	2.98	1.82	2.1	2.27	2.36	2.58	2.78	2.61	2.42	2.65
Interest Cover(x)	22.32	28.76	62.81	75.28	98.77	60.58	41.37	35.85	78.16	80.38	140.91
Total Debt/Mcap(x)	0.31	0.11	0.01	0.01	0	0.01	0	0.02	0	0	0

Fineotex Chemical Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	64.82	64.82	64.94	64.97	65	65.03	65.03	65.03	65.03	65.03
FII	0.6	0.25	0.04	1.02	0.72	0.7	0.75	0.72	0.81	1.45
DII	6.15	6.15	5.35	4.01	3.65	3.65	3.65	3.85	3.69	3.7
Public	28.43	28.78	29.67	30	30.63	30.61	30.56	30.39	30.46	29.82
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	7.18	7.18	7.19	7.2	7.2	7.2	7.2	7.2	7.2	7.2
FII	0.07	0.03	0	0.11	0.08	0.08	0.08	0.08	0.09	0.16
DII	0.68	0.68	0.59	0.44	0.4	0.4	0.4	0.43	0.41	0.41
Public	3.15	3.19	3.29	3.32	3.39	3.39	3.38	3.37	3.37	3.3
Others	0	0	0	0	0	0	0	0	0	0
Total	11.07	11.07	11.07	11.07	11.07	11.07	11.07	11.07	11.07	11.08

Pros

Company has delivered good profit growth of 30% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 26%
Debtor days have improved from 78.44 to 59.42days.
Company is almost debt free.

Cons

Stock is trading at 8.8 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.