FCL

Fineotex Chemical share price & financials

Speciality-chemicals maker for textile processing, oilfield services, water treatment and cleaning & hygiene, across India, Malaysia and the US.

Price: ₹43.52
Market cap: ₹4.8k Cr
Sector: Chemicals
Calls analysed: 7

Latest concall · Q1 FY27 · call held 24 Jul 2026

Fineotex Chemical Limited Q1 FY27

EBITDA ₹59.14 cr +135%EBITDA Margin 15.7% PAT ₹48.21 cr +93%Gross Margin 35.42%

What went well

Total income for Q1 FY27 stood at INR 386.72 crores, registering a 165% year-on-year growth.
EBITDA for the quarter was INR 59.14 crores, a 134.7% Y-o-Y growth, with EBITDA margin at 15.70% (up from 13.93% last quarter).
PAT increased by 92.67% Y-o-Y to INR 48.21 crores.

What to watch

The Indian textile business showed a marginal decline (1-2% dip) in Q1 FY27, attributed to seasonality and competition.

Read the full call →

What Fineotex Chemical Limited does

Fineotex Chemical manufactures tailor-made speciality performance chemicals used in textile wet-processing (pre-treatment, dyeing, printing, finishing), oilfield drilling and production (demulsifiers, corrosion inhibitors, biocides, surfactants), water treatment (scale-inhibiting polymers) and FMCG cleaning & hygiene products (floor cleaners, hand-washes, sanitizers, dishwashers). It earns by selling these customized chemical formulations to industrial customers through its own manufacturing plants and a dealer network across India and international markets. The group expanded into North American oilfield chemicals in December 2025 through a controlling stake in US-based CrudeChem Technologies Group, and runs its textile R&D through Malaysian subsidiary Biotex.

Segments

Textile Specialty Chemicals
Oil & Gas (Drilling & Oilfield Specialty Chemicals)
Water Treatment
FMCG, Cleaning & Hygiene

Manufacturing plants: 5 plants across India (Mahape, Ambernath), Malaysia (Selangor) and USA (Brookshire and Midland, Texas)
Combined installed manufacturing capacity: ~2,00,000 MTPA
Countries with sales presence: ~70 countries
Product categories: 470+
SKUs across product categories: 1,600+
Dealer network: 103+ dealers across Indian and international markets

Founded 2004Headquarters Mumbai, Maharashtra, India Company website

Guidance record · Q1 FY27

what the last two calls moved 14 tracked 3 delivered 2 missed 9 open

CrudeChem EBITDA Margin delivered said Q3 FY26 Promised: Always double digits going forward (up from historical 7-8%) Q1 FY27: New guidance for CrudeChem EBITDA margin is 13-14%, confirming the 'double digits' target is being met.
AquaStrike Premium Revenue went quiet said Q3 FY25 Promised: Substantial business from April onwards (Q1 FY26) Q1 FY27: No mention of AquaStrike in the earnings call or investor presentation.
EBITDA Margin on track said Q4 FY25 Promised: Around 24% going forward Q1 FY27: Actual margin 15.7%, up from 14% last quarter. Progressing towards 18-20% target.

All 14 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 175.2%, net profit up 92.0% against the same quarter last year.

₹ Cr · quarterly

Line item	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26	Q4 FY26	Q1 FY27
Revenue	146	126	120	137	138 −5%	184 +46%	314 +162%	377 +175%
Expenses	109	92	99	112	107	149	270	317
EBITDA	36	34	21	25	31 −14%	35 +3%	44 +110%	59 +136%
Margin	25%	27%	18%	18%	23%	19%	14%	16%
Other income	7	5	8	9	8	7	9	10
Interest	0	0	0	0	0	0	1	0
Depreciation	2	3	2	3	3	3	4	4
Profit before tax	41	36	26	31	35 −15%	38 +6%	48 +85%	65 +110%
Tax rate	21%	24%	24%	21%	26%	21%	9%	26%
Net profit	32	28	20	25	26 −19%	30 +7%	44 +120%	48 +92%
EPS	0.28	0.24	0.17	0.22	0.23	0.23	0.27	0.33

How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −76.2% 1Y

1Y: ₹242.35 on 10 Sept 2025 → ₹57.72. High ₹257.32 (29 Sept 2025), low ₹19.24 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27: −5.5%; 24 Jul
Q4 FY26: +20.0%; 18 May
Q3 FY26: +0.6%; 16 Feb
Q2 FY26: −2.1%; 10 Dec

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 14.3% a year over 3 years, FY23 to FY26. Operating margin narrowed to 17.5%.

Year ending	FY23	FY24	FY25	FY26
Revenue	₹517 Cr	₹568 Cr	₹534 Cr	₹773 Cr
Operating profit	₹113 Cr	₹148 Cr	₹126 Cr	₹135 Cr
Operating margin	21.9%	26.1%	23.6%	17.5%
Interest	₹0 Cr	₹1 Cr	₹0 Cr	₹1 Cr
Depreciation	₹4 Cr	₹5 Cr	₹9 Cr	₹13 Cr
Net profit	₹89 Cr	₹120 Cr	₹109 Cr	₹125 Cr
Net margin	17.2%	21.1%	20.4%	16.2%
Cash from operations	₹107 Cr	₹97 Cr	₹69 Cr	₹-24 Cr
Free cash flow	₹88 Cr	₹49 Cr	₹1 Cr	₹-49 Cr
ROCE	36.0%	39.0%	24.0%	18.0%

How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year ending	FY21	FY22	FY23	FY24	FY25	FY26
Equity capital	₹22 Cr	₹22 Cr	₹22 Cr	₹22 Cr	₹23 Cr	₹116 Cr
Reserves	₹187 Cr	₹240 Cr	₹327 Cr	₹425 Cr	₹756 Cr	₹766 Cr
Borrowings	₹3 Cr	₹2 Cr	₹7 Cr	₹5 Cr	₹0 Cr	₹8 Cr
Other liabilities	₹54 Cr	₹75 Cr	₹67 Cr	₹96 Cr	₹98 Cr	₹269 Cr
Total liabilities	₹267 Cr	₹339 Cr	₹423 Cr	₹548 Cr	₹878 Cr	₹1.2k Cr
Fixed assets	₹59 Cr	₹84 Cr	₹99 Cr	₹141 Cr	₹198 Cr	₹278 Cr
Capital work in progress	₹5 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹8 Cr	₹2 Cr
Investments	₹32 Cr	₹17 Cr	₹89 Cr	₹147 Cr	₹348 Cr	₹317 Cr
Other assets	₹171 Cr	₹238 Cr	₹234 Cr	₹260 Cr	₹323 Cr	₹562 Cr
Total assets	₹267 Cr	₹339 Cr	₹423 Cr	₹548 Cr	₹878 Cr	₹1.2k Cr

How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Mutual funds in FCL

Filings to Aug 2026

0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).

Held by funds: ₹75 Cr; 1 schemes
Biggest holder: Nippon India Small Cap Fund; ₹75 Cr · 0.1% of that fund

Scheme	Holding	Last month	Held since
Nippon India Small Cap Fund Nippon India Mutual Fund	₹75 Cr	held	Dec '20

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

0 added, 0 trimmed — net 0 shares (+0.0%)

Funds are sitting on: +523%; vs est. average cost
Held by funds: ₹75 Cr; 1 schemes · ≈ 1.4% of the company

Shares held by these funds −61%

Aug '23 1.48 cr shares Jul '26

What the price assumes

Growth trap

To justify its price of ₹58, this stock must grow earnings at 30% every year for 7 years. Our analysis caps realistic growth at ~12%. At that growth it is worth ₹23 — downside of 61%.

Growth the price implies: 30.4% a year; for 7 years, fading to 4%
It has actually compounded at: 12.0% a year; net profit, FY23–FY26
The gap: 0.2 pp; -61% downside if it only repeats history

Price today ₹57.72 Value at the reference growth ₹22.57

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Fineotex Chemical Limited

Guides on how to read this kind of business and the numbers that matter.