Do you hold this chemical company shares that delivered 220 per cent return in a year?
Shares of Fineotex Chemical soared today by 6.06 per cent, achieving a new 52-week and all-time high.
The stock rose to a record high of Rs 409.45 today from an opening price of Rs 382. The 52-week high and low are Rs 409.45 and Rs 103, respectively. The company has a market capitalisation of Rs 4407 crore. The volume of the stock on the BSE increased by 1.07 times.
Fineotex Chemicals Ltd was founded in 1979 and manufactures speciality chemicals and auxiliary products for the paint, leather, water treatment, textile, and construction sectors.
A CAGR of 26 per cent each year for the past three years can be seen in the top line's expansion. The company's sales for the past twelve months total Rs 441 crore, operating margin is up as well, reaching 19.9 per cent. For FY22, the dividend payout ratio of the company is 8 per cent. The first quarter of FY22 saw an increase in revenue of 115 per cent compared to the same period a year before, as well as an increase of 12 per cent compared to the previous quarter.
The Fineotex group is a major producer of chemicals used in a wide variety of industries, including those dealing with textiles, building materials, water purification, fertiliser, leather, and paint. Products for the complete spectrum of textile processing operations—from pretreatment to dying to print to finishing—are made and sold by Fineotex to clients all over the world.
The company creates more than 450 different types of speciality textile chemicals for use in the Pre-Treatment, Dyeing, Printing, and Finishing stages of the Textile value chain. It also produces a variety of cleaning products, including disinfectants, detergents, and sanitisers, as well as compounds for use in drilling fluids.
The company operates three factories, one in Mahape with a capacity of 36,500 MT, another in Ambernath, Mumbai, with a capacity of 36,000 MT (production there began in November 2021) and a third in Malaysia, with a capacity of 6,500 MT.