Fineotex Chemical Ltd.
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ABOUT
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AI GENERATEDChemicals
The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.
PROS
- Company has delivered good profit growth of 20.6% CAGR over last 5 years
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 28.7%
- Company has a good return on equity (ROE) track record: 3 Years ROE 22.8%
- Company has delivered good sales growth of 25.1% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 57.0%
CONS
- Operating cash flow has been negative in recent years
- A large part of profit comes from other income (40.0% of PBT)
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.18x)
- Promoter holding has decreased over last 2 years: -2.2pp
- Valuation is stretched - P/E of 74.0 is well above its own 5-year median (24.3)
- Working capital days have increased from 115 to 180 days
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SOLARINDS | 22390.00 | 101.74 | 202607.23 | 0.05 | 666.37 | 88.98 | 3668.20 | 70.26 | 38.16 | 27.91 |
| PIDILITIND | 1569.00 | 60.29 | 159705.32 | 1.37 | 8835.10 | 1202.86 | 45515.50 | 1112.74 | 32.38 | 26.28 |
| SRF | 2507.70 | 34.39 | 74334.45 | 0.36 | 758.87 | 75.53 | 5033.26 | 34.63 | 14.21 | 24.57 |
| FLUOROCHEM | 4809.00 | 85.90 | 52826.86 | 0.06 | 219.00 | 19.02 | 1588.00 | 23.97 | 9.58 | 26.83 |
| NAVINFLUOR | 8697.60 | 56.51 | 44625.75 | 0.17 | 243.31 | 107.67 | 1045.08 | 44.07 | 21.39 | 34.17 |
| GODREJIND | 1123.20 | 32.18 | 37835.11 | 0.00 | 523.36 | -27.85 | 5448.09 | 22.16 | 10.64 | 12.82 |
| DEEPAKNTR | 1645.90 | 28.66 | 22448.93 | 0.46 | 345.01 | 207.36 | 2577.60 | 36.39 | 11.58 | 20.96 |
| AETHER | 1642.70 | 92.70 | 21803.20 | 0.00 | 62.75 | 33.45 | 326.56 | 27.49 | 11.65 | 31.47 |
| ATUL | 6345.45 | 23.49 | 18682.12 | 0.47 | 253.93 | 91.85 | 1847.95 | 25.03 | 15.05 | 21.41 |
| AARTIIND | 504.45 | 34.46 | 18297.75 | 0.20 | 155.00 | 260.47 | 2387.00 | 42.42 | 6.95 | 16.00 |
| DEEPAKFERT | 1335.35 | 17.19 | 16913.93 | 0.75 | 490.04 | 100.95 | 3256.26 | 22.47 | 12.12 | 25.96 |
| FCL | 58.83 | 56.00 | 6850.76 | 0.76 | 482.05 | 1826.04 | 3766.28 | 2647.71 | 19.04 | 15.70 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 88 | 104 | 108 | 118 | 107 | 115 | 109 | 108 | 98 | 105 | 96 | 98 | 851 | |
| 66 | 76 | 73 | 90 | 80 | 86 | 80 | 88 | 81 | 81 | 75 | 78 | 718 | |
| Operating Profit | 22 | 28 | 35 | 29 | 26 | 30 | 30 | 20 | 17 | 23 | 22 | 19 | 133 |
| OPM % | 25.25% | 26.79% | 31.99% | 24.24% | 24.56% | 25.75% | 27.12% | 18.68% | 17.30% | 22.11% | 22.72% | 19.72% | 15.65% |
| 7 | 8 | 4 | 14 | 4 | 11 | 5 | 8 | 10 | 12 | 11 | 7 | 108 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 |
| Depreciation | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 22 |
| Profit before Tax | 28 | 34 | 37 | 41 | 29 | 39 | 32 | 26 | 25 | 33 | 31 | 24 | 241 |
| Tax % | 19.75% | 20.04% | 25.88% | 19.19% | 23.73% | 19.21% | 23.75% | 24.45% | 19.92% | 24.34% | 17.04% | 13.26% | 14.84% |
| Net Profit | 23 | 27 | 28 | 33 | 22 | 31 | 24 | 19 | 20 | 25 | 26 | 21 | 205 |
| 2.04 | 2.47 | 2.50 | 2.97 | 1.94 | 2.77 | 0.21 | 0.17 | 1.74 | 2.20 | 0.22 | 0.18 | 0.18 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 75 | 90 | 113 | 129 | 129 | 250 | 296 | 419 | 439 | 397 | 1,150 | |
| 56 | 66 | 87 | 101 | 98 | 197 | 235 | 305 | 334 | 320 | 953 | |
| Operating Profit | 19 | 24 | 25 | 28 | 31 | 53 | 61 | 113 | 106 | 77 | 198 |
| OPM % | 24.84% | 26.19% | 22.47% | 21.57% | 24.11% | 21.35% | 20.64% | 27.08% | 24.06% | 19.40% | 17.17% |
| 10 | 8 | 1 | -9 | 16 | 6 | 11 | 32 | 27 | 45 | 139 | |
| Interest | 0 | 0 | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 2 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 2 | 3 | 5 | 7 | 8 | 28 |
| Profit before Tax | 28 | 30 | 25 | 17 | 45 | 57 | 68 | 141 | 125 | 113 | 330 |
| Tax % | 23.99% | 29.39% | 30.50% | 36.73% | 20.03% | 22.51% | 23.17% | 21.29% | 22.48% | 19.00% | 15.89% |
| Net Profit | 21 | 21 | 17 | 11 | 36 | 44 | 52 | 111 | 97 | 92 | 277 |
| EPS | 1.90 | 1.91 | 1.56 | 0.97 | 3.25 | 3.97 | 4.70 | 9.99 | 8.49 | 0.79 | — |
| Dividend Payout % | 5.27% | 10.46% | 6.43% | 5.16% | 9.23% | 10.07% | 17.03% | 16.02% | 9.43% | 57.03% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 19%
- 5 Years:
- 25%
- 3 Years:
- 10%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 20%
- 5 Years:
- 21%
- 3 Years:
- 21%
STOCK PRICE CAGR
- 10 Years:
- 36%
- 5 Years:
- 39%
- 3 Years:
- 23%
- 1 Year:
- 140%
RETURN ON EQUITY
- 10 Years:
- 20%
- 5 Years:
- 22%
- 3 Years:
- 23%
- Last Year:
- 13%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 23 | 116 |
| 80 | 99 | 116 | 125 | 159 | 200 | 247 | 336 | 606 | 638 | |
| 1 | 5 | 3 | 3 | 4 | 3 | 8 | 6 | 2 | 2 | |
| Trade Payables | 11 | 11 | 15 | 18 | 24 | 41 | 39 | 59 | 54 | 42 |
| 1 | 2 | 3 | 2 | 4 | 5 | 6 | 8 | 10 | 19 | |
| Total Liabilities | 115 | 139 | 159 | 171 | 213 | 271 | 323 | 431 | 695 | 818 |
| 16 | 18 | 25 | 29 | 48 | 63 | 77 | 86 | 123 | 130 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 0 | 7 | 0 |
| 56 | 64 | 58 | 62 | 43 | 28 | 76 | 149 | 347 | 343 | |
| 7 | 12 | 14 | 13 | 22 | 48 | 37 | 37 | 53 | 66 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 109 | 97 | 101 | |
| Cash & Bank | 2 | 2 | 2 | 2 | 11 | 24 | 33 | 21 | 26 | 18 |
| 33 | 43 | 61 | 64 | 86 | 107 | 99 | 30 | 42 | 160 | |
| Total Assets | 115 | 139 | 159 | 171 | 213 | 271 | 323 | 431 | 695 | 818 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 18 | 18 | 11 | 28 | 7 | 27 | 82 | 69 | 58 | -73 | |
| Cash from Investing | -5 | -8 | 4 | -18 | -6 | 7 | -69 | -11 | -257 | 63 |
| Cash from Financing | -6 | -2 | -1 | -2 | -3 | -4 | -5 | -23 | 173 | 32 |
| -1 | -2 | 6 | 3 | -10 | 17 | -7 | 35 | -26 | 22 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-11 - Fineotex Chemical Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 11, 2026
2026-09-08 - Fineotex Chemical Limited has informed the Exchange about Schedule of meet with the participation in the investor meet conference
2026-09-08 - Fineotex Chemical Limited has informed the Exchange about Schedule of meet for the Institutional investor plant visit
2026-09-01 - Fineotex Chemical Limited has informed the Exchange regarding 'Incorporation of Wholly Owned Step-down subsidiary in USA '.
2026-08-24 - Fineotex Chemical Limited has informed the Exchange regarding a press release dated August 24, 2026, titled "Upgrade in Credit Rating".
2026-08-24 - Fineotex Chemical Limited has informed the Exchange about Credit Rating
2026-08-19 - Fineotex Chemical Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-18 - Fineotex Chemical Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 11, 2026
2026-08-18 - Fineotex Chemical Limited has informed the Exchange about Copy of Newspaper Publication of Notice of 23rd Annual General Meeting for the Financial Year 2025-26
News
Recent coverage and analyst commentary for FCL
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Fineotex Chemical Ltd.
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