On Monday, Fineotex Chemical Ltd closed at Rs 303.90, up 19.41% from its previous closing of Rs 254.50 on the BSE.
The company posted excellent financial performance for the quarter ended March 31, 2023. It reported consolidated revenue of Rs 137.69 crore, surged 13.43% YoY from Rs 121.39 crore. EBITDA grew by 60% YoY to Rs 34.80 crore compared to Rs 21.75 crore from previous year’s same quarter. Net profit jumped 52.94% YoY and stood at Rs 26.00 crore compared to Rs 17 crore.
The EBITDA margin improved by 736 basis points YoY and stood at 25.3% while Net profit margin (NPM) grew by 488 basis points YoY to 18.9%.
Ace Investor Ashish Kacholia holds 31,24,072 fully paid-up equity shares in the company, representing Rs 94.8 crore in value. He has increased his holdings in the company from 1.84% in June 2022 to 2.82% in March 2023.
Ashish Kacholia, often known as ‘Big Whale,’ began his career with Prime Securities and later joined Edelweiss before establishing his own brokerage firm, Lucky Securities, in 1995. He co-founded Hungama Digital in 1999 with Rakesh Jhunjhunwala and started creating his own portfolio in 2003.
Incorporated in 1979, Fineotex Chemicals Ltd is engaged in the business of manufacturing auxiliaries and specialty chemicals for textiles, construction, water treatment, fertilizer, leather, and paint industries.
The BSE group ‘A’ stock of face value Rs 2 has a 52-week high and low of Rs 409.45 and Rs 155.00, respectively.
Last one week high and low of the scrip stood at Rs 305.40 and Rs 250.85 respectively. The current market cap of the company is Rs 3,365.64 crore.
The promoters’ holding in the company stood at 65.04%, while institutions and non-institutions held 4.37% and 30.62% respectively.