Past 10 year's financial track record analysis by Moneyworks4me indicates that Fineotex Chemical Ltd is a good quality company.
The key valuation ratios of Fineotex Chemical Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Fineotex Chemical Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 22.9% | 28% | 29.6% | 26.7% | 19.1% | 11.9% | 27.1% | 28.1% | 27.3% | 44.2% | - |
| Value Creation Index ⓘ | 0.6 | 1.0 | 1.1 | 0.9 | 0.4 | -0.2 | 0.9 | 1.0 | 1.0 | 2.2 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 65 | 68.5 | 74.7 | 90.1 | 113 | 129 | 129 | 250 | 296 | 419 | 448 |
| Sales YoY Gr. | - | 5.4% | 9% | 20.6% | 25.1% | 14.4% | 0.5% | 93.1% | 18.2% | 41.8% | - |
| Adj EPS ⓘ | 1 | 1.4 | 1.9 | 1.9 | 1.5 | 1.7 | 3.2 | 3.9 | 4.6 | 9.9 | 9.9 |
| YoY Gr. | - | 29.8% | 40.7% | 1.6% | -21.2% | 12.5% | 88.3% | 20.5% | 17.5% | 117.3% | - |
| BVPS (₹) ⓘ | 6.3 | 7.5 | 9.2 | 10.9 | 12.4 | 13.3 | 16.4 | 20 | 24.3 | 32.3 | 51.5 |
| Adj Net Profit ⓘ | 11.6 | 15.1 | 21.1 | 21.5 | 16.9 | 19 | 35.6 | 42.9 | 50.5 | 110 | 114 |
| Cash Flow from Ops. ⓘ | 8.2 | 9.2 | 10.6 | 9.1 | 3.4 | 22.2 | -0.8 | 13.5 | 66.3 | 68.6 | - |
| Debt/CF from Ops. ⓘ | 0.2 | 0.3 | 0.1 | 0.5 | 0.6 | 0.1 | -4.1 | 0.1 | 0.1 | 0.1 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 23% | 30% | 47.9% | 41.8% | ||||
| Adj EPS ⓘ | 28.5% | 45.5% | 45.5% | 117.3% | ||||
| BVPSⓘ | 19.9% | 21% | 25.5% | 32.8% | ||||
| Share Price | 31.9% | 66.6% | 35.8% | -4.5% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 17.8 | 19.6 | 22.7 | 19.3 | 13 | 13.3 | 21.7 | 21.3 | 20.6 | 35 | 23.7 |
| Op. Profit Mgn % ⓘ | 18.3 | 27.2 | 24.9 | 26.5 | 22.5 | 21.6 | 24.1 | 21.4 | 20.6 | 27.1 | 26.6 |
| Net Profit Mgn % ⓘ | 17.9 | 22.1 | 28.3 | 23.9 | 15 | 14.7 | 27.5 | 17.2 | 17.1 | 26.2 | 25.4 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Cap Days ⓘ | 175 | 159 | 155 | 160 | 175 | 183 | 230 | 177 | 167 | 126 | 79 |
| Cash Conv. Cycle ⓘ | 41 | 39 | 45 | 57 | 76 | 79 | 108 | 86 | 80 | 52 | 57 |
Sales growth is growing at healthy rate in last 3 years 47.90%
Net Profit is growing at healthy rate in last 3 years 45.46%
Sales growth is good in last 4 quarters at 30.38%
Return on Equity has declined versus last 3 years average to 23.70%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 9.9 | 10.8 |
| TTM Sales (₹ Cr.) | 448 | 579 |
| BVPS (₹.) ⓘ | 51.5 | 60.2 |
| Reserves (₹ Cr.) ⓘ | 531 | 666 |
| P/BV ⓘ | 6.49 | 5.55 |
| PE ⓘ | 33.58 | 31.01 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 305.20 / 458.00 |
| All Time Low / High (₹) | 1.56 / 458.00 |
| Market Cap (₹ Cr.) | 3,826 |
| Equity (₹ Cr.) | 22.9 |
| Face Value (₹) | 2 |
| Industry PE ⓘ | 57.2 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 65 | 68 | 75 | 90 | 113 | 129 | 129 | 250 | 296 | 419 |
| Operating Expenses ⓘ | 54 | 50 | 56 | 66 | 87 | 101 | 98 | 197 | 235 | 305 |
| Manufacturing Costs | 8 | 8 | 8 | 8 | 11 | 11 | 12 | 19 | 20 | 22 |
| Material Costs | 39 | 34 | 37 | 45 | 59 | 69 | 65 | 139 | 170 | 236 |
| Employee Cost | 2 | 2 | 3 | 5 | 6 | 7 | 7 | 11 | 16 | 18 |
| Other Costs ⓘ | 5 | 5 | 8 | 9 | 12 | 14 | 14 | 27 | 28 | 29 |
| Operating Profit ⓘ | 11 | 19 | 19 | 24 | 25 | 28 | 31 | 53 | 61 | 113 |
| Operating Profit Margin (%) | 17.3% | 27.2% | 24.8% | 26.2% | 22.5% | 21.6% | 24.1% | 21.3% | 20.6% | 27.1% |
| Other Income ⓘ | 5 | 4 | 10 | 8 | 1 | 3 | 16 | 6 | 11 | 32 |
| Interest ⓘ | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 1 | 1 |
| Depreciation ⓘ | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 3 | 5 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | -13 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 15 | 22 | 28 | 30 | 25 | 17 | 45 | 57 | 68 | 141 |
| Tax ⓘ | 4 | 7 | 7 | 9 | 8 | 6 | 9 | 13 | 16 | 30 |
| Profit After Tax | 11 | 15 | 21 | 21 | 17 | 11 | 36 | 44 | 52 | 111 |
| PAT Margin (%) | 17.2% | 22.1% | 28.3% | 23.6% | 15.4% | 8.4% | 27.8% | 17.6% | 17.6% | 26.4% |
| Adjusted EPS (₹) | 1.0 | 1.4 | 1.9 | 1.9 | 1.6 | 1.0 | 3.3 | 4.0 | 4.7 | 10.0 |
| Dividend Payout Ratio (%) | 10% | 15% | 5% | 10% | 6% | 5% | 9% | 10% | 17% | 16% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 71 | 84 | 102 | 121 | 138 | 148 | 181 | 222 | 269 | 358 |
| Share Capital ⓘ | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 |
| Reserves ⓘ | 48 | 61 | 80 | 99 | 116 | 125 | 159 | 200 | 247 | 336 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 1 | 3 | 1 | 5 | 2 | 3 | 3 | 2 | 7 | 5 |
| Long Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 1 | 3 | 1 | 4 | 2 | 3 | 3 | 2 | 7 | 5 |
| Trade Payables | 10 | 10 | 11 | 11 | 15 | 18 | 24 | 41 | 39 | 59 |
| Others Liabilities ⓘ | 3 | 0 | 1 | 2 | 4 | 3 | 4 | 6 | 7 | 9 |
| Total Liabilities ⓘ | 84 | 96 | 115 | 139 | 159 | 171 | 213 | 271 | 323 | 431 |
Fixed Assets | ||||||||||
| Gross Block | 12 | 14 | 17 | 19 | 27 | 33 | 53 | 70 | 87 | 100 |
| Accumulated Depreciation | 1 | 2 | 1 | 1 | 2 | 3 | 5 | 7 | 10 | 15 |
| Net Fixed Assetsⓘ | 11 | 12 | 16 | 18 | 25 | 29 | 48 | 63 | 77 | 86 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 0 |
| Investmentsⓘ | 39 | 48 | 56 | 64 | 58 | 62 | 43 | 28 | 76 | 149 |
| Inventories | 5 | 6 | 7 | 12 | 14 | 13 | 22 | 48 | 37 | 37 |
| Trade Receivables | 17 | 19 | 20 | 22 | 35 | 39 | 58 | 75 | 73 | 109 |
| Cash Equivalents | 3 | 3 | 2 | 2 | 2 | 2 | 11 | 24 | 33 | 21 |
| Others Assetsⓘ | 11 | 8 | 13 | 21 | 26 | 25 | 28 | 32 | 26 | 30 |
| Total Assets ⓘ | 84 | 96 | 115 | 139 | 159 | 171 | 213 | 271 | 323 | 431 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 8 | 9 | 11 | 9 | 3 | 22 | -1 | 13 | 66 | 69 |
| PBT ⓘ | 15 | 22 | 28 | 30 | 25 | 17 | 45 | 57 | 68 | 141 |
| Adjustment ⓘ | -4 | -3 | -9 | -6 | 0 | 12 | -13 | -2 | -4 | -25 |
| Changes in Working Capital ⓘ | -0 | -2 | -1 | -6 | -14 | -1 | -25 | -28 | 18 | -14 |
| Tax Paid ⓘ | -3 | -8 | -7 | -8 | -8 | -6 | -8 | -14 | -16 | -33 |
| Cash Flow From Investing Activity ⓘ | -5 | -6 | -5 | -8 | 4 | -18 | -6 | 7 | -69 | -11 |
| Capex | -5 | -1 | -5 | -10 | -8 | -6 | -22 | -15 | -17 | -13 |
| Net Investments | -4 | -8 | -2 | -2 | 11 | -13 | 25 | 17 | -46 | -23 |
| Others ⓘ | 3 | 3 | 2 | 3 | 1 | 2 | -9 | 5 | -5 | 25 |
| Cash Flow From Financing Activityⓘ | -3 | -2 | -6 | -2 | -1 | -2 | -3 | -4 | -5 | -23 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -3 | -1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | 0 | 0 | 0 | 0 | -1 | 0 | 0 | -1 | -1 | -1 |
| Dividend Paid ⓘ | -1 | -3 | -1 | -2 | 0 | -2 | 0 | -3 | -4 | -22 |
| Others ⓘ | 1 | 2 | -5 | 0 | 0 | 0 | -2 | 0 | 0 | 0 |
| Net Cash Flow ⓘ | 1 | 1 | -1 | -2 | 6 | 3 | -10 | 17 | -7 | 35 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 17.12 | 19.6 | 22.75 | 19.07 | 13.35 | 7.54 | 21.9 | 21.84 | 21.19 | 35.29 |
| ROCE (%) | 22.94 | 27.95 | 29.58 | 26.67 | 19.14 | 11.91 | 27.07 | 28.06 | 27.29 | 44.16 |
| Asset Turnover Ratio | 0.89 | 0.83 | 0.78 | 0.72 | 0.75 | 0.78 | 0.68 | 1.03 | 1 | 1.11 |
| PAT to CFO Conversion(x) | 0.73 | 0.6 | 0.52 | 0.43 | 0.18 | 2 | -0.03 | 0.3 | 1.27 | 0.62 | Working Capital Days |
| Receivable Days | 87 | 87 | 87 | 84 | 92 | 104 | 137 | 97 | 92 | 79 |
| Inventory Days | 27 | 25 | 29 | 38 | 42 | 38 | 49 | 51 | 53 | 33 |
| Payable Days | 97 | 104 | 103 | 91 | 82 | 86 | 116 | 86 | 87 | 76 |
Fineotex Chemical Limited (FCL) was incorporated as a private limited company under the Companies Act 1956, on January 30, 2004 in the State of Maharashtra and its constitution was changed to a public limited company vide a new certificate of incorporation dated October 19, 2007. It is promoted by the members of the Tibrewala family, the company is in the business of manufacturing specialty chemicals and enzymes. The registered and corporate office of the company is situated at 42 and 43 Manorama Chambers, S.V. Road, Bandra West Mumbai 400 050.
The company has acquired the business of Fineotex Chemical Industries, a proprietorship concern of Surendra Kumar Tibrewala, which was set up in the year 1995 at Mahape, MIDC in Navi Mumbai. Fineotex Chemical Industries was engaged in the manufacturing of specialty chemicals for Textile and Garment Industry (right from Pre-treatment Chemicals to finishing products), Leather Industry, Agrochemical Industry, Paper Industry, Paint Industry, Construction chemicals, Wood and Sticker Industry etc. It also manufactured various value added specialty chemicals and enzymes.
The company acquired the business of Fineotex Chemical Industries by executing the deed of Assignment dated April 1, 2007 for a lump sum cash consideration of Rs 3 crore only and acquired all assets and liabilities related to the business. Pursuant to this deed of assignment, the proprietor of Fineotex Chemical Industries was allotted 30, 00,000 equity shares of Rs 10 each of Fineotex Chemical Limited.
The company proposes to set up a manufacturing facility for the production of specialty chemicals and enzymes with a capacity of 13,125 MT/annum in and around Khopoli in Maharashtra and to set up a sales office at Mumbai. Setting up this project would be a step towards expansion of current business i.e. manufacturing of specialty chemicals and enzymes for construction, textile and garments, leather and water treatment industry. This expansion would help us tap the potential of the increasing demand of the specialty chemicals in the above industries.
Business area of the company
The company manufactures specialty chemicals consumed by textile and garment industry, leather, construction, adhesives paper, water treatment, agrochemicals, paint and other industries. The company’s existing plant is located at A - 699 and A - 700, TTC Industrial Area, Mahape, Navi Mumbai, District Thane. Its products have an established international market in countries like Bangladesh, Indonesia, Bulgaria, Pakistan, Colombia, Singapore, etc. Also, the company’s products are sold in Indian cities like Mumbai, Balotra Bhilwara, Delhi, Ludhiana, Tirupur, Karur, Erode, etc.
Milestones
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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