Export markets and stable RM prices drive performance

Company
14 May 2024
5 Min read 
  • Fine Organic Industries reported higher-than-estimated EBITDA at INR1.3b (-29% YoY) in 4QFY24.
  •  Gross margin improved 450bp YoY to 43.6%, primarily due to stable vegetable oil prices.
  •  Exports accounted for 55% of the total revenue for FINEORG as of 4QFY24.
  •  The commissioning of the Thailand JV plant is expected by end-Jun24.
  •  Valuations are expensive for a company that is going to have YoY earnings decline for the next two years.
  •  Management guided that it would take another 3-4 years for Patalganga-II to reach optimum utilization.
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