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Fineotex Chemical Limited Registers PAT of Rs 969 Lakhs for Q1 of FY 2021-22

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fineotex-q1-2021-22The Company’s formidable growth story is reflective of the enormous rise in revenues. Expansion plans on track. Rene wed interest in the traditional products.

Fineotex Chemical founded in 1979 is one of India s largest and most progressive specialty chemical manufacturers. The company manufactures specialty chemicals for multiple industry segments including textiles, oil and gas, and the home and hygiene space. Its wide array of products covers the end—to—end value chain for the Textile industry including pretreatment, dyeing, printing, etc. and has recently entered into a joint venture with Australia’s HeaIthGuard®  to be its exclusive global marketing and sales channel partner.

HIGHLIGHT OF CONSOLIDATED RESULTS (Consolidated Q-01-21 (Y-o-Y):

  1. The Revenue from Operations of the Company has increased to Rs 6,327lokh from Rs 3,038 lakh. The Revenue from Operations registered a strong growth of 108% approx.
  1. The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of the Company has increased to Rs 981 lakh from Rs 411 lakh.
  1. The Profit after tax (PAT) of the Company has increased to Rs. 969 lakhs from Rs. 819 lakhs. The PAT registered a growth of 18.Z%

HIGHLIGHT OF STANDALONE RESULTS (Standalone Q1—210/22 (Y—o—Y)

  1. The Revenue from Operation of the Company has increased to Rs. 4,1Z7 lakh from Rs. 1,040 lakhs. The Revenue from Operation registered a growth of 297%.
  1. The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of the Company has risen to Rs 699 lakh from Rs 188 lakh which a formidable increase of 254%
  1. The Profit after tax (PAT) of the Company has increased to Rs. 713 lakhs from Rs. 647 Lakhs. The PAT registered a growth of 10.02%

Commenting on FCL’s robust performance, Mr. Sanjay Tibrewala, Executive Director and CEF, Fineotex Chemical, said, “The Covid—19 pandemic was a disruptive year. Hopefully, we are now at its fag end. While our teams were agile to step on the pedal and boost the manufacturing of products required by the world to fight the pandemic, we are now back on track with our overall plans and are seeing renewed demand for our traditional specialty chemicals too. We have also ventured into newer areas and entered into a joint venture with HealthGuard that adds to our portfolio the much-required safety solutions that are the most durable and metal-free sustainable chemistry for antimicrobial, antiviral, anti-dust mite, anti-mosquito and anti—bed bug finishes. I am very pleased to announce that despite the pandemic, we have ended the first quarter of 2021—22 on a positive note and registered a revenue increase of 108% and the PAT of the company stands at Rs 969 lakh.”

Highlighting the company’s strategic initiatives, Ms. Aarti Jhunjhunwala, Executive Director, Fineotex Chemical, said, “Our growth story remains steadfast and we are happy to inform our stakeholders and investors that FCL s upcoming brownfield facility at Ambernath will be commissioned by the first quarter of FY2022. This will be a state—of—the—art automated unit which will comply with the highest standards of sustainability and boost growth. Also, the company is looking at Deployment of funds in the Project for expansion and it will augment our manufacturing capacity.

The company’s expansion plans are well on track and it expects to commission all the projects as per the original schedule. Recently CRISIL gave FCL a long-term rating as A- which denotes Stable. The short—term rating is CRISIL A2+. CRISIL A-/StabIe/CRISIL A2+ is assigned to Bank Debt.

 

 

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