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Fineotex registers post-tax profit of 295% in Q4 2021

Apr 28, 2021
Fineotex registers post-tax profit of 295% in Q4 2021

Mumbai, Maharashtra

Fineotex Chemical, India’s leading textile chemical manufacturer, has registered a considerable growth year-on-year for both the Q4 results and the consolidated year-ending results for 2021, despite the pandemic. The consolidated Q4 results for 2021 for Fineotex Chemical have been largely positive. The company's profit after tax (PAT) for Q4 2020-21 increased to Rs 119.5 million compared to a loss of Rs 61.3 million in Q4 2019-20, thus recording a growth of 295%. The revenue from operations of the company has also increased from Rs 435.8 million in Q4 2019-20 to Rs 750.2 million in Q4 2020-21. That is a 72% growth. The Earnings Per Share (EPS) after exceptional items was Rs 0.57 and has increased to 1.01. This is a 228% increase.

The consolidated year ending March 2021 results have also shown promising growth for this textile chemical company with a PAT growth of 234% and revenue from operations growth of 0.49%. The Revenue from Operations of the company has increased to Rs 2185.1 million from Rs 1963.4 million. The company's Profit after tax (PAT) has increased to Rs 445.6 million in 2020-21 from Rs 143.1 million in 2019-20. The EPS after exceptional items has increased from 0.97 to 3.25 per share. That’s a growth rate of 235%.

According to Sanjay Tibrewala, Executive Director and CFO, Fineotex Chemical, the company had to look for innovative solutions and had to constantly switchgear because of the COVID-19 pandemic. He also added that the company has given a dividend of 0.30 per share, which is the highest as of date.

Aarti Jhunjhunwala, Executive Director, Fineotex Chemical, further added that they have moved into the home care and hygiene segment this year and that their plant has been approved by the Maharashtrian Food & Drugs Administration.

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