Fine Organic Industries Ltd Stock Analysis

BSE: 541557 | NSE: FINEORG | Chemicals | Mid Cap

BSE Share Price Aug 11, 18:02
6518.20 -224.00 (-3.32%)

DeciZen - Make an Informed Decision on Fine Organic Inds.

Overall Rating

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Fine Organic Inds. Price Chart

P/E Ratio (CD) :
52.11
Market Cap :
19,984.8 Cr.
52-wk low :
2,735.5
52-wk high :
6,909.4
Bole Toh?

1. Is Fine Organic Industries Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Fine Organic Industries Ltd is a good quality company.

2. Is Fine Organic Industries Ltd undervalued or overvalued?

The key valuation ratios of Fine Organic Industries Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

3. Is Fine Organic Industries Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Fine Organic Industries Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of Fine Organic Inds.:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Fine Organic Industries Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
ROCE % 13.3%27%21.8%23.5%21.9%21.4%24.2%23.6%15.1%26.7%-
Value Creation Index -0.01.00.60.70.60.50.70.80.1NA-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 4965676156607798561,0601,0381,1331,8762,266
YoY Gr. Rt. %-14.3%8.4%7.3%18.1%9.8%23.9%-2.1%9.2%65.6%-
Adj EPS 41.8118.3116.9146.526.327.841.251.137.178.9125.1
YoY Gr. Rt. %-183.1%-1.2%25.4%-82.1%5.8%47.9%24.1%-27.3%112.6%-
BVPS (₹) 202329.8401526.20129163.2201.9238.6312.9365.1
Adj Net Profit 20.257.156.570.876.385.4126157114242383
Cash Flow from Ops. 48.92.179.611445.165.198.421913467-
Debt/CF from Ops. 2.253.81.30.90.90.81.30.60.70.9-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 15.9%19.2%21%65.6%
Adj EPS 7.3%24.6%24.2%112.6%
BVPS 5024.231.2
Share Price - - 65.4% 126.7%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
Return on Equity % 20.744.53231.626.223.628.22816.928.636.9
Op. Profit Mgn % 10.319.218.522.118.618.62223.217.619.523.3
Net Profit Mgn % 4.110.19.210.79.81012.215.610.21316.9
Debt to Equity 1.10.70.50.40.10.10.30.20.10.1-
Working Cap Days 01251351271241461341371291100
Cash Conv. Cycle 03641474957555953500

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 36.90%

Sales growth is growing at healthy rate in last 3 years 20.95%

Net Profit is growing at healthy rate in last 3 years 24.20%

Sales growth is good in last 4 quarters at 79.19%

No data to display

Latest Financials - Fine Organic Industries Ltd.

Standalone Consolidated
TTM EPS (₹) 121.7 125.1
TTM Sales (₹ Cr.) 2,251 2,266
BVPS (₹.) 363.9 365.1
Reserves (₹ Cr.) 1,100 1,104
P/BV 17.91 17.86
PE 53.58 52.11
From the Market
52 Week Low / High (₹) 2735.45 / 6909.35
All Time Low / High (₹) 735.20 / 6909.35
Market Cap (₹ Cr.) 19,985
Equity (₹ Cr.) 15.3
Face Value (₹) 5
Industry PE 34.9

Management X-Ray of Fine Organic Inds. :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

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Key Ratios of Fine Organic Inds.

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)

News

About Fine Organic Industries Ltd

The company was incorporated as 'Fine Organic Industries (Mumbai) Private Limited' on May 24, 2002 in the state of Maharashtra at Mumbai as a private limited company under the Companies Act, 1956, as amended. Thereafter, the name of company was changed to 'Fine Organic Industries Private Limited' and a fresh certificate of incorporation consequent upon change of name dated February 16, 2009 was issued by the Registrar of Companies, Maharashtra situated at Mumbai (RoC). Subsequently, the company was converted into a public limited company, the word 'private' was struck off from the name of company and consequently, a fresh certificate of incorporation dated November 2, 2017 was issued by the RoC recording the change of company's name to 'Fine Organic Industries Limited'.

Fine Organic Industries is the largest manufacturer of oleochemical-based additives in India and a strong player globally in this industry. It had a vast range of different products sold under the 'Fine Organics' brand. It is the first company to introduce slip additives in India and is the largest producer of slip additives in the world. The company’s success is the result of sustained efforts over the decades in all areas of its business, such as product innovation, process technology improvements, increases in scale, improved raw material procurement and focus on cultural understanding of consumers.

The company’s direct customers are multinational, regional and local players manufacturing consumer products and petrochemical companies and polymer producers globally. Its plastics additives and specialty additives are also used in the packaging of foods and other fast moving consumer goods. It has a dedicated research and development (R&D) centre located in Mahape, Navi Mumbai. Its R&D activities are focused on improving production processes, improving the quality of present products, creating new additives and creating downstream products. It has developed in-house process design expertise to construct its production facilities. This gives it scale advantages by enabling the timely expansion of its capacity in response to market needs and reduces capital expenditure costs for expansions significantly compared to other players.

Business area of the company

The company produces a wide range of specialty plant derived oleochemical -based additives used in food, plastic, cosmetics, paint, ink, coatings and other specialty application in various industries.

Awards and Recognitions

  • 2013-2016: Awarded meritorious performance in industrial safety by the National Safety Council, Maharashtra Chapter.
  • 2015: ISO 9001:2015 Quality management system certification for manufacture and supply of speciality chemicals for food, polymer, textile, metal, cosmetic, pharmaceutical, paints and other allied industries by BSI Assurance UK Limited.
  • 2016: FSSC 22000 Food safety system certification for processing and bulk packing of food additives and fatty acid esters category K by BSI Assurance UK Limited.
  • 2017: GMP+ process certification for feed safety assurance in the First Ambernath Facility by Control Union Certifications.

Major Events and Milestones

  • 1970: Established as ‘Fine Organic Industries’, a partnership firm, in Mumbai by Late Shri Ramesh Shah and Shri Prakash Kamat.
  • 1973: Commissioned first food additives facility in Dombivli.
  • 1988: Set up second facility in Ambernath.
  • 1995: Incorporated Oleofine Organics (India) Private Limited for expanding the capacity for polymer additives.
  • 2002: Incorporated the Company under the name of Fine Organic Industries (Mumbai) Private Limited.
  • 2005: Research and development centre was established in Mahape, Navi Mumbai.
  • 2006: Fatty acid esters facility was commissioned in First Ambernath Facility.
  • 2008: Polymer additives facility was commissioned in First Ambernath Facility.
  • 2010: Polymer additives capacity was expanded in First Ambernath Facility.
  • 2011: Amalgamation of Oleofine Organics (India) Pvt Ltd with company.
  • 2012: Additional food and polymer additives facility was commissioned in First Ambernath Facility.
  • 2014: Joint venture was signed with Zeelandia International, a Netherlands based bakery premix manufacturer.
  • 2015: Additional food and polymer additives capacity was commissioned in First Ambernath Facility.
  • 2017: Amalgamation of Fine Research and Development Centre Private Limited and Fine Speciality Surfactants Private Limited with company.
  • 2017: Sub-leasing of the facility and general plant and machinery at Dombivli, MIDC from Fine Organic Industries partnership firm to company.
  • 2018: Joint venture agreement was signed with Adcotec, a German company for application, development, marketing, distribution and sales activities of food and food additives.
  • 2018: Initiated Initial Public Offerings (IPO) and got listed on BSE and NSE.
  • 2019-20: The company expanded production capacity at new plant namely N-42 located at Ambernath. Entire plant has been successfully commissioned and capitalized during the year in phased manner.
  • 2020: Started operation at its new manufacturing facility situated at additional MIDC Patalganga, Maharashtra, India from November 25, 2020.
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