Fine Organic Industries Ltd(FINEORG)

NSE: FINEORGBSE: 541557

₹ 5,020-1.46%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 15,391 crNext results: 2 Nov 2026Website: www.fineorganics.comUpdated: 24 Oct 2026

About

Fine Organic Industries Ltd is a Mumbai-based specialty chemicals manufacturer producing oleochemical-based additives used in food, cosmetics, polymers, packaging, coatings, and feed nutrition. In FY26 the company reported consolidated revenue of Rs 2,365.8 cr, with exports accounting for approximately 55% of total revenue. It operates manufacturing facilities in India and has subsidiaries in North America and Europe, and a joint venture in Thailand.^[1][2][3]

Products and application areas

Fine Organics manufactures oleochemical-based additives with applications across food, cosmetics, polymers, packaging, coatings, and feed nutrition sectors.^[3]
The company earned USDA BioPreferred certification in FY25, with a pipeline of bio-based and biodegradable products across its core application segments.^[4]

Manufacturing operations

Fine Organics operates a manufacturing facility at Badlapur, India, and has subsidiaries in North America and Europe, plus a joint venture in Thailand.^[3]
The company acquired approximately 30 acres at JNPA SEZ, Mumbai for future capacity expansion and export-oriented production.^[4]
Trial production commenced through the Thailand joint venture for a technically advanced product in FY25.^[4]

Key operating numbers

Standalone gross profit margin was 44.6% in Q1 FY27, up from 37.8% in Q1 FY26; consolidated gross profit margin was 45.4% in Q1 FY27, up from 40.4%.^[5]
Standalone fixed asset turnover (gross) was 3.21x in FY26; standalone return on capital employed was 22.82% in FY26.^[5]
Consolidated fixed asset turnover (gross) declined to 6.31x in H1 FY26 from 8.04x in FY25, reflecting new assets not yet at full utilisation.^[6]
Standalone net debt/equity was -0.52x (net cash) as of FY26.^[5]

Customers and distribution

Exports accounted for approximately 60% of total standalone revenue in Q1 FY27, up from approximately 55% in FY26.^[5][2]
In FY25, domestic and export businesses contributed 43% and 57% respectively to total revenue.^[4]
Fine Organics FZE, a wholly-owned subsidiary incorporated in Dubai in Q3 FY26, aims to establish local presence in GCC countries and enhance supply chain efficiency.^[7][2]

Expansion and capex

Fine Organics Americas LLC acquired approximately 159.92 acres of land in Jonesville, Union County, South Carolina; USD 1.12 million (~Rs 9.6 cr) equity invested; planning for a full-fledged manufacturing facility commenced.^[2][4]
Fine Organic Industries (SEZ) Pvt. Ltd. issued preference shares of Rs 65 cr in Q2 FY26 to build equity capital structure for the JNPA SEZ facility.^[7][6]
Board approved acquisition of up to 80% of Oleofine Organics Sdn. Bhd. (Malaysia), a food additives company, for approximately RM 34.21 million (~Rs 83 cr).^[2]
Fine Organics FZE incorporated in Dubai, UAE in Q3 FY26; equity of AED 200,000 (~Rs 49.48 lakhs) infused in Q4 FY26.^[2]
Fine Organic Industries (Thailand) Co. Ltd. JV received equity infusion of approximately THB 22.50 million (~Rs 6.17 cr) in Q3 FY26 for business growth.^[2]

Recent developments

The Badlapur fire insurance claim was fully settled at Rs 4.35 cr in July 2026; interim settlements of Rs 1.80 cr had already been received in earlier periods. The matter is now closed.^[5]
Utility costs increased significantly in Q1 FY27 versus FY26, driven by higher fuel prices from the West Asia geopolitical crisis.^[5]
Raw material prices remained elevated in Q1 FY27 compared to FY26 levels; the sequential increase over Q4 FY26 was marginal.^[5]
Consolidated PAT grew 18% YoY to Rs 138.1 cr in Q1 FY27, with JV losses contributing Rs 1.9 cr (vs Rs 0.7 cr in Q1 FY26).^[5]

Market Cap

₹15,391 Cr

High / Low

₹5,662 / 3,856

Stock P/E

37.8

Price / Book

6.2

Book Value

₹869

EPS

₹136.0

No. of Shares

3.07 Cr

ROCE

21.5%

ROE

16.8%

OPM

21.9%

Debt / Equity

0.02

Sales

₹2,366 Cr

Net Profit

₹417 Cr

Promoter holding

75.0%

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