This speciality chemical stock held by Ashish Kacholia hit a new 52-week high on September 1

In the last 10 years, this stock jumped from Rs 1.81 to Rs 320.

Ashish Kacholia is well-known for finding undiscovered gems in the small-to-midcap space that has the potential to deliver multibagger returns to its shareholders. As of September 1, he owns 38 stocks worth Rs 1893 crore. Fineotex Chemical Ltd is one of its 38 stocks. 

Fineotex Chemical Ltd shares reached a new 52-week high on September 1. At 1:21 pm, the stock is trading at Rs 295, up 7.18 per cent on the day. 

Fineotex Chemical Ltd is an S&P BSE group 'A' company with a market cap of Rs 3256 crore. It is a major producer of speciality chemicals for the textile industry. Vardhman Textiles Ltd and Raymond Ltd are among their clients. It also serves its products in the construction, fertiliser, water treatment, leather, and paint industries. 

The company has over 470 product categories, including diverse products such as air freshener, furniture maintainer, automatic dishwasher detergent, hand sanitiser, and so on. It operates in 70 countries. About 42 per cent of the company's revenue as of FY22 comes from international markets. 

Over the last 10 years, the company has consistently produced strong financial results which are clearly reflected in the share price appreciation. The company's ROE and ROCE are 23.4 per cent and 31.1 per cent, respectively, as of the FY22 period ending. 

Regarding its recent result, for Q1FY23, its revenue more than doubled to Rs 135.7 crore from Rs 63.2 crore reported in Q1FY22. The company's net profit for the same quarter was Rs 20.3 crore, a 109.5 per cent YoY increase. 

Regarding the shareholding structure, the promoters own 64.94 per cent of the stake, followed by FIIs with 0.04 per cent, DIIs with 5.35 per cent, and non-institutional investors with the remaining 29.67 per cent.