Fine Organics hits new high
By Ruma Dubey
about 10 months ago
Fine Organics has been among the top gainer on the BSE since the morning today; the stock went on to hit a new 52-week high at Rs.6909.35, up over 18.5%. Volumes have jumped up almost 4x.
The market is super thrilled with its performance for Q1FY23. On an over 2x (YoY) surge in consolidated revenue from operations at Rs.748 crore, the company’s net profit went up more than 4x to Rs.157 crore.
A specialty chemical maker, the performance is driven by, apart from a lower base effect, by robust recovery in demand from end-user industries like construction, textile, consumer durables and automobile.
The company makes oleochemical-based additives used in foods, plastics, cosmetics, coatings and other specialty application in various industries.