Fine Organic Industries, Q1FY23 results, buzzing stocks, specialty chemicals, top gainers, 5Paisa, YoY performance, QoQ performance.

On the back of stellar Q1 results, shares of Fine Organic Industries rose 19% to hit an all-time high

by 5paisa Research Team Last Updated: Dec 14, 2022 - 04:30 pm 19.6k Views
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Net Profit jumps 54% for this leading producer of synthetic rubber as sales are up by 65%. 

On August 9, Fine Organic Industries posted its financial results for the first quarter of FY2023. The shares are zooming on the bourses on the back of robust Q1 performance from the levels of Rs 5820.95, touching an all-time high of Rs 6909.35.

The company recorded consolidated net sales of Rs 747.74 crore in Q1FY23 which is more than double of net sales in Q1FY22, on a QoQ basis the revenue was also up by 21.22%. The EBIDTA of the company grew by 312.8% on YoY and by 34.42% on QoQ and stood at Rs 214.62 crore.

The company reported PAT of Rs 160.04 crore as against Rs 36.47 crore a year ago, which is an increase of 338.82%. Sequentially, PAT grew by 30.98%.

EBITDA margins expanded by 1425 bps on a YoY basis and sequentially by 282 bps and stood at 28.7%. PAT margins expanded 1120 bps YoYat 21.4%.

In the last 3 months, shares of Fine Organic have risen 50% while YTD returns stand at 77%. During the same period, benchmark index Sensex has delivered returns of 7.9% and (0.72)%, respectively.

Fine Organic Industries is the largest manufacturer of oleochemical-based additives in India and a strong player globally in this industry. It is the first company to introduce slip additives in India and is the largest producer of slip additives in the world. The company produces a wide range of speciality plant-derived oleochemical-based additives used in food, plastic, cosmetics, paint, ink, coatings and other speciality application in various industries.

The revival of the end-user industries has led to a strong Q1 for speciality chemical companies. In particular, the rising demand for processed, packaged and ready-to-eat convenience foods are the driving factor in the food additives market.

In the afternoon trades, shares of Fine Organic Industries are quoting at Rs 6686.75, with a gain of 14.75% or Rs 859.65 per share.

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