Synopsis:
DII Nippon mutual fund exits this chemical company by selling shares worth Rs 9.82 crore.
A specialty chemical stock crashed more than 11 percent on Tuesday after Domestic institutional investor (DII) Nippon mutual fund sold 29.59 Lakh shares totalling Rs 9.82 crore.
With the market of Rs 3,321 crore , the shares of Fineotex Chemical Ltd gave a closing of Rs 28.99 and had crashed more than 11 percent to its intraday low of Rs 28.43 compared to its previous day closing price of Rs 32.07. The shares are trading at a PE of 32 which is near to its median PE of 33.4.
About the bulk deal
Reliance mutual fund through reliance capital trustee co ltd also known as Nippon mutual fund sold 29,58,972 equity shares of Fineotex chemicals at a price of Rs 33.20 per share which aggregates to around Rs 9.82 crore.
Financials and others
The Revenue from operations for the company stands at Rs 137 crore in Q1 FY26 compared to Q1 FY25 revenue of Rs 142 crore which is a fall of 3.52 percent YoY . Similarly, the net profit stood at Rs 25 crore in Q1 FY26 from Rs 29 crore in Q1 FY25 giving a fall of about 14 percent.
The company has had a successful foray into the FMCG, Cleaning and hygiene space with manufacturing unit at ambernath plant by making disinfection, house keeping, kitchen care and laundry based products, its clientele includes companies like sun pharma, glenmark pharma, AIIMS, IIM shillong , apollo sage hospitals and many more.
The company has manufacturing units which are GMP certified in Mahape with 36,500 MTPA capacity, in Ambernath with 61,000 MTPA capacity and in Selangor (Malaysia) with 6,500 MTPA capacity.
The company’s Q1 FY26 revenue mix is 76 percent from the domestic market and remaining 24 percent from the international market and has sales in 70 countries including Brazil, Bangladesh, Germany ,Indonesia, Malaysia, Singapore, Syria, Thailand, USA, Venezuela and Vietnam with 36 plus technical marketing experts and 103 plus dealers in Indian and International markets.
Fineotex group is one of the leading manufacturers of chemicals for textiles, water treatment, home care and oil and drilling fluids industry. Fineotex manufactures and provides an entire range of products for Pretreatment Process, Dyeing Process, Printing Process and Finishing Process for the textile processing to customers across the globe.
Written by Leon Mendonca
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