FIIs bought 27,23,098 shares: Ashish Kacholia's portfolio specialty chemical stock in green as company reports positive results in Q2FY25 & H1FY25
The stock is up by 18.6 per cent from its 52-week low of Rs 305.20 per share and gave multibagger returns of 1,150 per cent returns in 5 years.
On Thursday, shares of Fineotex Chemical Ltd (FCL) gained 2 per cent to Rs 361.85 per share from its previous closing of Rs 354.65. The stock’s 52-week high is Rs 458 and its 52-week low is Rs 305.20.
Fineotex Chemical Ltd, founded in 1979, is a leading manufacturer of speciality chemicals for various industries. Their core business is textile chemicals, with a focus on research and development through their subsidiary Biotex Malaysia. They also offer cleaning and hygiene products like sanitisers and detergents. Fineotex boasts over 470 product categories, including chemicals for every stage of textile production, oil and water-based drilling fluids, and home care disinfectants. With a presence in over 70 countries and a network of over 100 dealers, they serve major clients like Nahar Group and Raymond in the textile industry.
An ace investor, Ashish Kacholia holds 31,35,568 shares or 2.74 per cent stake in the company as of September 2024. Additionally, in September 2024, FIIs bought 27,23,098 shares and increased their stake to 3.28 per cent compared to 0.92 per cent in June 2024.
The Company's consolidated business performance for the second quarter of FY25 (Q2FY25) showcases a positive trajectory. Revenue from Operations experienced a 2.70 per cent quarter-on-quarter (Q-o-Q) growth, reaching approximately Rs 14,573 lakh. Notably, the Profit After Tax (PAT) surged by 9.90 per cent Q-o-Q to approximately Rs 3,207 lakh. On a year-on-year (Y-o-Y) basis, the half-yearly performance (H1FY25) is equally encouraging. Revenue from Operations climbed 3.65 per cent to approximately Rs 28,763 lakh, while PAT increased 6.30 per cent to approximately Rs 6,125 lakh compared to the same period in the previous fiscal year.
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FCL has achieved a significant milestone with the successful fundraise of Rs. 218.11 crores through Preferential Allotment of Equity Shares and Convertible Warrants. This, coupled with an earlier fundraise, brings the total funds raised in FY24 to Rs. 342.55 crores. This financial strength, combined with ICRA's credit rating upgrade to [ICRA]A+ (Positive), highlights FCL's robust financial profile, strong operational performance, and positive growth outlook. The company's strategic diversification, global footprint, and robust R&D capabilities position it for sustained growth. FCL's commitment to innovation, sustainability, and financial prudence has led to impressive financial metrics, including high-profit margins and a strong demand pipeline.
The company has a market cap of Rs 3,978 crore with an ROE of 30 per cent and an ROCE of 39 per cent. The stock is up by 18.6 per cent from its 52-week low of Rs 305.20 per share and gave multibagger returns of 1,150 per cent returns in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.