Fineotex Chemical Limited (FCL) Reports Strong Financial Performance with Impressive Growth in FY2023

Fineotex Chemical Limited (FCL), one of India’s leading and progressive speciality chemical producer with a market-leading position in the international textile industry has announced robust financial numbers for Q4 and full year FY2023.  

Highlight Of Consolidated Results: 

Consolidated result of FY2023 vs FY2022 (Y-o-Y basis) 

∙ The Revenue from Operation increased by 40.40% i.e. to Rs 51,700 Lakhs from Rs. 36,823 Lakhs; 

∙ The Operational EBITDA increased by 58.12% i.e. to Rs 11,259 Lakhs from  Rs. 7,121 Lakhs; 

∙ The Profit after tax (PAT) increased by 57.42% i.e. to Rs 8,955 Lakhs from  Rs. 5,689 Lakhs 

∙ The volume growth of the consolidated business is 84.77% 

Consolidated result of Q4 FY23 vs Q4 FY22 (Y-o-Y basis) 

∙ The Revenue from Operation increased by 13.42% i.e. to Rs 1,377 Lakhs from Rs. 1,214 Lakhs; 

∙ The Operational EBITDA increased by 52.01% i.e. to Rs 3,271 Lakhs from  Rs. 2,152 Lakhs; 

∙ The Profit after tax (PAT) increased by 52.97% i.e. to Rs 2,600 Lakhs from  Rs. 1,700 Lakhs 

The consolidated Return on Capital Employed for FY2023 is 34.15%. The consolidated Return on Equity for FY2023 is 28.65%.

Highlight Of India Operations Results: 

India Operations includes Fineotex Chemical Limited (FCL) and Fineotex Specialties Private Limited (FSPL), which is an Operating Domestic Subsidiary of FCL 

India Business result of FY2023 vs FY2022 (Y-o-Y basis) 

● The Revenue from Operation increased by 61.36% i.e. to Rs. 45,773 Lakhs from Rs. 28,366 Lakhs; 

● The Operational EBITDA increased by 73.36 % i.e. to Rs. 10,733 Lakhs from  Rs. 6,191 Lakhs; 

● The Profit after tax (PAT) increased by 78.94 % i.e. to Rs. 9,041 Lakhs from  Rs. 5,053 Lakhs 

India Business result of Q4 FY23 vs Q4 FY22 (Y-o-Y basis) 

● The Operational EBITDA increased by 56.91 % i.e. to Rs. 3,157 Lakhs from  Rs. 2,012 Lakhs; 

● The Profit after tax (PAT) increased by 49.87 % i.e. to Rs 2,530 Lakhs from  Rs. 1,688 Lakhs 

Commenting on the successful result, Mr. Sanjay Tibrewala, Executive Director and CFO, Fineotex Chemical, said, “We are pleased to announce yet another successful quarter, highlighting our ongoing strong performance and remarkable achievements. We achieved remarkable revenue and EBITDA growth, of 40.40% and  58.12% respectively, highlighting the strong trust and satisfaction our customers have in our products and services., highlighting the trust our customers place in the quality of our products and services. Our strategic vision to expand operations and diversify our product portfolio into the cleaning and hygiene segment has proven to be a  resounding success, contributing significantly to our top line. Our progress in this segment is a testament to our commitment to meeting the evolving needs of our customers. Our manufacturing facility in Ambernath exemplifies our dedication to expanding capacity and diversifying our product range, further strengthening our competitive position in the market. We are proud of our ability to adapt and seize opportunities, ensuring that Fineotex remains at the forefront of industry trends. With  our unwavering commitment to excellence and our focus on meeting customer needs,  we are well-positioned to continue our growth trajectory and achieve even greater  milestones in the future.”

Commenting on the successful result, Ms. Aarti Jhunjhunwala, Executive  Director, Fineotex Chemical, said, “Our commitment to excellence, customer satisfaction, and sustainability has yielded robust results, with significant growth and strong financial performance across all key metrics. We are recognised for our dedication to sustainability and implementing comprehensive measures to minimize our environmental impact. This includes optimizing energy usage, reducing waste, and promoting responsible chemical management practices. By prioritizing sustainability,  we fulfill our corporate social responsibility and strengthen our competitive advantage in an increasingly environmentally conscious market. Fineotex’s strong financial performance, coupled with its unwavering commitment to excellence and customer satisfaction, establishes it as an industry leader. The company is now poised for  sustainable growth and long-term value creation for all stakeholders.” 

FCL’s CEO, Arindam Choudhuri mentioned, “Fineotex has positioned itself as a  prominent company in the chemical industry, particularly in the textile solutions segment. We have recently expanded our capacity at the Ambernath facility to accommodate up to 104,000 tonnes per year. This plant is fungible for all our business segments. This expansion empowers us to effectively meet the demands of new product contracts and anticipated future orders. We take pride in our ability to develop high 

performance chemicals that meet the unique requirements of the textile industry. Our products are manufactured with a primary focus on improving efficiency and effectiveness, enabling textile manufacturers to achieve positive outcomes in operations. We are pleased to announce that HealthGuard has recently obtained approval from the USEPA for its non-heavy metal base anti-microbial treatment, HG  BK.  We prioritize continuous investment in research and development, ensuring that we remain at the forefront of technological advancements in the textile industry. This empowers us to offer our customers cutting-edge solutions that propel their businesses forward while minimizing their environmental footprint. We will strive  for excellence, finding innovative ways to enhance our offerings and contribute to a  sustainable future.”