This Chemical stock gained 4 percent to Rs 330 per share on Friday after the company reported strong Q2 results.
The company’s net revenue rose 8 percent year on year from Rs 134.3 in Q2FY23 to Rs 145.2 in Q2FY24. On a quarter-on-quarter basis, their revenue rose 9.8 percent from Rs 132.2 crore in Q1FY24 to current levels.
Also, the net profit jumped 51.6 percent year on year from Rs 20.7 crores Q2FY23 to Rs 31.4 crores Q2FY24, On a sequential basis quarter on quarter their net profit rose by 20.3 percent from Rs 26.1 crores Q1FY24 to current levels.
Fineotex Chemical is a small-cap company with a Market capitalization of Rs 3,597 crores. It also has a return on equity (ROE) of 30.31 percent and a return on capital employed (ROCE) of 36.38%.
Also, the company has reduced its debt and delivered a Net profit margin of 17.7 percent Avg for the last 3 years. The Stock is trading at 10.1 times its book value.
The promoters of Fineotex Chemical hold a 65.03 percent stake followed by the FIIs with 0.72 percent and the remaining lies with the public.
Ace Investor Mr. Ashish Kacholia holds 31,35,568 equity shares, which is 2.83 percent of the company as of September 2023.
The share of Fineotex Chemical has risen by 27.47 percent in the last six months and 27.06 percent in the year to date.
Fineotex Chemical was founded in 1979, it is a leading manufacturer of over 450 specialty chemicals and enzymes. Fineotex Group has evolved into a specialty chemicals manufacturer that caters to multiple sectors such as textile, home care, hygiene, mining, garment, water treatment, leather, construction, paint, agrochemicals, and adhesives.
Written by Sriram KV
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