Fine Organic Industries Ltd Share Price – NSE  /  BSE

Chemicals, Small Cap

Fine Organic Industries will hold a meeting of the Board of Directors of the Company on 30 July 2024.

Powered by Capital Market - Live News

The agency has also affirmed the company’s short-term rating at '[ICRA] A1+’.

ICRA said that the rating reaffirmation factors in Fine Organic Industries’ (FOIL) established marked position and the extensive experience of the promoters in the oleochemicals industry for more than five decades.

The ratings also factor in its long-standing relationship with a diversified clientele which includes reputed players from the petrochemical, cosmetics and food industries. The company has a vast portfolio of 450+ products which find application in multiple industries.

The ratings also factor in the company’s strong product and process innovation capabilities, supported by a strong in-house research and development (R&D) facility.

The ratings are further backed by FOIL’s robust financial risk profile, characterised by healthy cash flow from operations, nil debt levels as on FY2024-end and large unencumbered cash balances.

The ratings are, constrained by the susceptibility of the company’s profitability to volatility in raw material prices, evident from the variation in its operating margins over the last few years. However, ICRA notes that the company has been able to pass on the price impact with some lag and maintain average margins over a certain period.

The ratings also factor in the exposure of FOIL’s profitability to adverse exchange rate movements; however, the company undertakes hedging to mitigate the risk.

Fine Organic Industries (FOIL) is the flagship company of the Fine Organic Group. The Group is engaged in the manufacturing of oleochemical additives for various end-user industries such as foods, plastics, rubbers, paints, inks, cosmetics, coatings, feed nutrition, etc.

The scrip had declined 1.59% to end at Rs 5218.80 on the BSE yesterday.

Domestic equity markets are shut today on account of Muharram.

Powered by Capital Market - Live News

Fine Organic Industries announced that ICRA has reviewed and reaffirmed the credit rating of the company at [ICRA]AA (Stable)/[ICRA]A1+.

Powered by Capital Market - Live News

Fine Organic Industries announced that the Board of Directors of the Company at its meeting held on 10 May 2024, inter alia, have recommended the final dividend of Rs 10 per equity Share (i.e. 200%) , subject to the approval of the shareholders.

Powered by Capital Market - Live News