Operational revenue and dividend increase by 69% and 33% respectively in FY 2022 Y-o-Y
Mumbai
Fineotex Chemical (FCL), India’s leading speciality chemical producer with a market leading position in international textile industry has announced robust financial numbers in Q4FY22.
The revenue from operations of the group has increased to Rs 12,139 lakh from Rs 7,502 lakh. The Profit after tax (PAT) of Fineotex has increased to Rs 1,700 lakh from Rs 1,195 lakh. The PAT registered a growth of 42%. The Operational EBIDTA of the Group has increased to Rs 7,121 lakh from Rs 4,057 lakh. The Operational EBIDTA registered a growth of 76%.
Commenting on the successful result, Surendrakumar Tibrewala, CMD, Fineotex Chemical, said, “We are thrilled to announce the tremendous growth numbers. We will continue to strengthen our position and expand into new, untapped markets. Our aim will be to develop our chemistries and enter into strategic alliances in order to strengthen our existing and new relationships in both the domestic and foreign markets. Our plant’s sustainability requirements will allow expansion and further utilisation, and with demand on the rise, we anticipate a bright future. These are exciting times for Fineotex, and we are excited about the progress that is being achieved and the chances that are heading our way. The Board has proposed a final dividend of Rs.0.40 per share of face value Rs.2. “
Arindam Choudhuri, CEO, FCL, further added, “We have expanded our portfolio and are working on providing more solutions for textile companies as well as a more diverse product range. With these steps, we feel all stakeholders will be able to see an even more beneficial shift in the growth. We have made a significant contribution to the worldwide ESG and sustainability movement. We manufacture while protecting the environment’s long-term viability and are devoted to zero waste practises, as seen by our extensive certifications and accreditations. It has endeavored to efficiently manage the release of dangerous chemicals, most notably by launching Zero Discharge of Hazardous Chemicals programmes (ZDHC)” Fineotex Chemical manufactures chemicals for the entire value chain for the textile industry including pre-treatment, dyeing, printing and finishing process. The Company has successfully expanded into home care, hygiene and drilling speciality chemicals sector which is already supporting the next phase of growth for the Company. The Company manufactures over 475 products an