Volume Spurt Alert & FIIs Bought 27,23,098 Shares: Ashish Kacholia's Portfolio Specialty Chemical Stock Jumps Over 5 Per Cent Today
The stock is up by 19.7 per cent from its 52-week low of Rs 277.35 per share and gave multibagger returns of over 800 per cent returns in 5 years.
On Friday, shares of Fineotex Chemical Ltd (FCL) gained 5.22 per cent to Rs 332.80 per share from its previous closing of Rs 316.30 per share. The stock’s 52-week high is Rs 458.85 per share and its 52-week low is Rs 278 per share. The company's shares saw a spurt in volume by more than 2 times.
Recently, Fineotex Chemical Limited's Executive Director, Mr Sanjay Tibrewala, has been bestowed with the esteemed Industry Leader Award at the Life Cycle Assessment Summit (LCAS-2025). The award was presented by Shri Sanjay Savkare Ji, the Hon'ble Textile Minister of Maharashtra, and Smt. Roop Rashi Mahapatra, the Textile Commissioner of India, acknowledges Mr Tibrewala's exceptional leadership and his significant contributions to advancing sustainability, innovation, and technological progress within the textiles and chemical industries.
The LCAS-2025, organized by SASMIRA under the National Technical Textiles Mission (NTTM) in collaboration with the Ministry of Textiles, Government of India, provided a crucial platform for industry leaders, policymakers, and innovators to collaborate and develop actionable strategies for a sustainable future. Fineotex Chemical Limited, a pioneer in sustainable innovation, consistently delivers high-impact, solution-oriented R&D initiatives that not only meet but exceed the evolving demands of various industries. By seamlessly integrating advanced technologies with eco-friendly practices, the company actively contributes to a circular economy, optimizing resource utilization, and setting new benchmarks for industry excellence.
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About the Company
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.
The company has a market cap of Rs 3,783 crore with an ROE of 30 per cent and an ROCE of 39 per cent. The stock is up by 19.7 per cent from its 52-week low of Rs 277.35 per share and gave multibagger returns of over 800 per cent returns in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.