Ashish Kacholia holds 2.74% stake: Promoter of this specialty chemicals company bought 20,000 shares via open market
The stock gave multibagger returns of over 1,000 per cent returns in 5 years.
Fineotex Chemical Limited, a leading Indian multinational specialty performance chemical producer, offers sustainable, technology-driven solutions to diverse industries, notably textile & garment processing, clean and homecare, water treatment, and oil & gas. Operating state-of-the-art manufacturing facilities in Ambernath, Navi Mumbai (India) and Selangor (Malaysia), with an additional plant under construction in Ambernath, Fineotex prioritizes innovation and sustainability. Serving clients in 69 countries through a robust network of 102 distributors in India and supported by a NABL-accredited R&D laboratory, Fineotex is dedicated to delivering innovative, reliable, and eco-friendly solutions tailored to the evolving needs of the global market.
The promoter of Fineotex Chemical Limited (FCL), Mr. Sanjay Tibrewala, bought 20,000 equity shares worth Rs 41,31,600 on the open market as per Disclosure in terms of Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015.
Additionally, FCL has secured government approval for AquaStrike Premium, its Azadirachtin-based, eco-friendly mosquito control solution developed by subsidiary FSPL, marking a significant step in public health and sustainability; this innovative, odourless liquid, proven effective in WHO-approved labs and holding international certifications, will be deployed through collaborations with government and NGOs. Simultaneously, FCL's expansion into oil & gas and water treatment demonstrates strong growth, supported by a robust order pipeline and plans for a new plant in Q2 FY26, alongside the development of 15 new products this quarter. With over Rs 300 crore earmarked for strategic acquisitions, FCL's financial strength is evident in the declared interim dividend of Rs 0.40 per share and the recent ICRA credit rating upgrade to A+ (Positive), positioning the company for continued growth and innovation.
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According to Quarterly Results, the net sales decreased by 9 per cent to Rs 125.92 crore and the net profit decreased by 15 per cent to Rs 27.63 crore in Q3FY25 compared to Q3FY24. In its nine-month results, the net sales decreased by 1 per cent to Rs 413.55 crore and the net profit decreased by 2 per cent to Rs 89.08 crore in 9MFY25 compared to 9MFY24
An ace investor, Ashish Kacholia, holds 31,35,568 shares or 2.74 per cent stake in the company as of December 2024. The company has a market cap of Rs 2,756 crore with an ROE of 30 per cent and an ROCE of 39 per cent. The stock gave multibagger returns of over 1,000 per cent returns in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.