Fine Organic Industries Limited’s total revenue up by 39.40% at Rs. 501.03 crores for H1FY19
Deepthi | Myequity news | Date : 03-11-2018 19:30:00 IST
Fine Organic Industries Limited, a largest manufacturer of oleochemical based additives in India with a range of more than 400 different products used in food, polymer, cosmetics, paint, ink, coatings etc. has announced its un-audited financial results for the Quarter and half year ended September 30, 2018.
Standalone Half Yearly Highlights:
• Revenues (Net of taxes) of Rs. 501.03 Cr for H1FY19 as against Rs. 359.42 Cr in H1FY18, up by 39.40% YoY
• Growth in revenues attributable to volume growth across product segments o Exports revenue is about 56% of total revenue
• EBITDA for H1FY19 stood at Rs. 111.49 Cr as against Rs. 61.99Cr in H1FY18, up by 79.84% YoY
• Margins for H1FY19 stood at 22.25 % as against 17.25 % in H1FY18
• PAT stood at Rs. 68.80 Cr for H1FY19 as against Rs. 36.61 Cr in H1FY18 up by 87.92% YoY
Commenting on the performance Mr. Mukesh Shah, Managing Director, Fine Organic Industries Limited said, “We are pleased with our performance during the H1FY19 as both domestic and international market have stated noteworthy volume and value growth. Demand from all end user industry has been healthy.
We have cited earlier that we are operating at our peak capacity utilizations and therefore have undertaken few capacity expansion programmes which are expected to operationalise at different timeframe over next two years. With our in-house proprietary technology and strong R&D prowess, we have proven our credential and proficiency to serve our customers with customised solutions.
Our end user segments, across polymers, food, cosmetics, coatings & specialties have the potential to deliver substantial growth which gives us an opportunity to deliver value added solutions to our clients. Our international business has contributed 56% of the total revenue.
We are optimistic about the global opportunities through our product innovation and expansion. Our upcoming capacities will cater to these additional demands and enhance our penetration into the global markets.” About Fine Organic Industries Limited:
Fine Organic Industries Ltd is the largest manufacturer of oleochemical-based additives in India and a strong player globally in this industry. It produces a wide range of specialty plant derived oleochemical-based additives used in food, polymer, cosmetics, paint, ink, coatings and other specialty applications in various industries. Company has got strong distribution network within India and globally. The state of art manufacturing facilities are located at Ambernath, Badlapur and Dombivali in Maharashtra.