Geographical Expansion
Expected: FutureHIGH confidence
What: Land Acquisition: 159.9 acres
“Fine Organics Americas LLC, in the United States to set up a manufacturing plant... acquired approximately 159.9 acres of land”
Fine Organic Industries Ltd: Why Is It Outperforming Nifty 500?
ActiveWeak5w Streak
In , Fine Organic Industries Ltd (Chemicals - Organic) is outperforming Nifty 500 with +6.8% relative strength. Fundamentals: Weak. On a 5-week streak.
Fine Organic Industries Ltd Key Facts
- PE Ratio
- 36.4x
- Market Cap
- ₹14,269 Cr
- PAT Growth YoY
- -11%
- Revenue Growth YoY
- +7%
- OPM
- 17.0%
- RS vs Nifty 500
- +6.8%
PE: Early ExpansionAvoid
What's Happening
🚫No earnings growth, no valuation discount — limited upside
📊Debt increased 433% YoY — leverage rising
💰Trading 80% above estimated fair value — significant premium
Earnings Acceleration Triggers
1. Geographical Expansion
FutureHIGH
2. New Product Or Brand Launch
OngoingMEDIUM
Key Risks
1. Raw material prices increased in FY26 compared to FY25, with a sequential rise i
HIGH2. Implementation of four new Labour Codes effective November 21, 2025
MEDIUM3. Freight costs have stabilized but remain a monitorable factor for export-heavy b
LOWSector-Specific Signals
Export Revenue % of Total53%-2%
Direct Customers890+
Distributors240+
Total Products600+
Key Numbers
PAT Growth YoY
-11%
Stable
Revenue YoY
+7%
Stable
Operating Margin
17.0%
-300 bps YoY
PE Ratio
36.4
Current Price
₹4,654
Dividend Yield
0.24%
Fundamental Score
24/100
Weak
3Y PAT CAGR
+16%
Market Cap
14.3K Cr
Valuation
Significantly Overvalued12-Week Performance
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
12 weeks agoThis week
Why Are Fine Organic Industries Ltd's Earnings Accelerating?
Based on Q3 FY26 earnings • Updated Apr 18, 2026
New Product Or Brand Launch
Expected: OngoingMEDIUM confidence
What: Product Count: 600+
“Dedicated team of 35 Scientists and Technicians... Developing New Products... Specialty Additives for: Feed nutrition, Foods, CosPha”
What Are the Key Risks for Fine Organic Industries Ltd?
Earnings deceleration risks from management commentary
Raw material prices increased in FY26 compared to FY25, with a sequential rise i
HIGHTrigger: Volatility in vegetable oil prices (Soya, Palm, Coconut) which are key inputs.
Impact: PAT impact: 23.5% YoY PAT decline
Management view: Not explained on call
Monitor: commodity
Implementation of four new Labour Codes effective November 21, 2025
MEDIUMTrigger: Actuarial valuation of Gratuity led to an additional estimated provision.
Impact: PAT impact: ₹7.11 Cr provision
Management view: Recognized additional estimated provision in financial results.
Monitor: labor
Freight costs have stabilized but remain a monitorable factor for export-heavy b
LOWTrigger: Reduction in global sea freight rates helped stabilize costs in Q3.
Monitor: logistics
What Is Fine Organic Industries Ltd's Management Saying?
Key quotes from recent conference calls
“Exports accounted for 55% for total revenue in Q2FY26 and H1FY26 [Previous Export Revenue Share guidance]”
“incorporated a wholly owned subsidiary, Fine Organics Americas LLC, in the United States to set up a manufacturing plant [Initiative: US Manufacturing Plant]”
“The subsidiary aims to establish a local presence in GCC countries and enhance supply chain efficiency [Initiative: Fine Organics FZE, Dubai]”
“Raw Material prices increased in the current year FY26 as compared to previous year FY25. There is a slight increase in raw material prices in Q3 [Risk (commodity): HIGH]”
What Did Fine Organic Industries Ltd Report This Quarter?
Headline numbers from the latest earnings call
Revenue
₹528.6 Cr
YoY +0.7%QoQ -7.6%
Why: Revenue from operations showed a slight year-on-year increase but declined sequentially from Q2FY26 due to lower domestic demand in the third quarter.
Standalone revenue growth remains muted at 0.7% YoY while consolidated revenue grew 7.3% YoY to ₹554.8 Cr.
EBITDA
₹84.6 Cr
YoY -21.6%Margin 16%
Why: EBITDA was impacted by increased raw material prices in FY26 compared to FY25 and a sequential increase in Q3 vs Q2.
Standalone EBITDA margins contracted significantly from 20.6% in Q3FY25 to 16.0% in Q3FY26.
PAT
₹68.1 Cr
YoY -23.5%QoQ -28.6%
Why: Profitability was pressured by higher raw material costs and an additional estimated provision of Rs. 711.42 lakhs for the New Labour Code.
PAT margins dropped to 12.9% from 17.0% in the previous year's corresponding quarter.
Other Highlights
• Exports accounted for 53% of total revenue in Q3 FY26.
• Additional provision of Rs. 711.42 lakhs recognized for past service cost under New Labour Code.
• Equity infusion of Rs 6.17 crores in Thailand Joint Venture for business growth.
What Sector Metrics Matter for Fine Organic Industries Ltd?
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
Export Revenue % of Total
53%
YoY -2%QoQ -2%
Why: Export markets showed steady performance but share dropped slightly due to domestic demand improvement.
Direct Customers
890+
Distributors
240+
Total Products
600+
End Users
5,400+
Countries Served
80+
R&D Scientists and Technicians
35
Gross Profit Margin
35.4%
YoY -320 bpsQoQ -110 bps
Why: Impacted by the increase in raw material prices in Q3 as compared to Q2.
Total Employee Strength
865+
Fixed Asset Turnover (Net)
8.96x
YoY +0.21xQoQ 0.00x
What Is Fine Organic Industries Ltd's Management Guidance?
Forward-looking targets from management
Management Tone: CAUTIOUS
How Fast Is Fine Organic Industries Ltd Growing?
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +7% | +7% | Stable |
| PAT (Net Profit) | -11% | +16% | Stable |
| OPM | 17.0% | -300 bps | Volatile |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 18, 2026.
Other Top Chemicals - Organic Stocks Beating Nifty 500
Frequently Asked Questions: Fine Organic Industries Ltd
Based on publicly available financial data. This is educational research, not investment advice.
What were Fine Organic Industries Ltd's latest quarterly results?
Fine Organic Industries Ltd's latest quarterly results (Dec 2025) show
- PAT Growth YoY: -10.8% (stable)
- Revenue Growth YoY: +7.4%
- Operating Margin: 17.0% (volatile)
Is Fine Organic Industries Ltd's profit growing or declining?
Fine Organic Industries Ltd's profit is declining with an stable trend.
- PAT Growth YoY: -10.8% (latest quarter)
- PAT Growth QoQ: -32.1% (sequential)
- 3-Year PAT CAGR: +16.4%
- Trend: Stable — consistent growth pattern
What is Fine Organic Industries Ltd's revenue growth trend?
Fine Organic Industries Ltd's revenue growth trend is stable.
- Revenue Growth YoY: +7.4%
- Revenue Growth QoQ: -7.0% (sequential)
- 3-Year Revenue CAGR: +6.5%
How is Fine Organic Industries Ltd's operating margin trending?
Fine Organic Industries Ltd's operating margin is volatile.
- Current OPM: 17.0%
- OPM Change YoY: -3.0% basis points
- OPM Change QoQ: -5.0% basis points
What is Fine Organic Industries Ltd's 3-year profit and revenue CAGR?
Fine Organic Industries Ltd's long-term compounding rates
- 3-Year Profit CAGR: +16.4%
- 3-Year Revenue CAGR: +6.5%
Is Fine Organic Industries Ltd's growth accelerating or decelerating?
Fine Organic Industries Ltd's earnings growth is stable with weakening on a sequential basis.
- YoY Acceleration: -4.0% bps
- Sequential Acceleration: -25.3% bps
- Note: YoY and QoQ trends are diverging — worth monitoring
- Margin Warning: Operating margins are under pressure
What is Fine Organic Industries Ltd's trailing twelve month (TTM) performance?
Fine Organic Industries Ltd's trailing twelve month (TTM) performance
- TTM PAT: ₹397 Cr
- TTM PAT Growth: -7.2% YoY
- TTM Revenue: ₹2,000 Cr
- TTM Revenue Growth: +6.2% YoY
- TTM Operating Margin: 20.1%
Is Fine Organic Industries Ltd overvalued or undervalued?
Fine Organic Industries Ltd appears significantly overvalued based on our fair value analysis.
- Valuation Signal: Significantly Overvalued
- Current PE: 36.4x
- Price-to-Book: 5.8x
What is Fine Organic Industries Ltd's current PE ratio?
Fine Organic Industries Ltd's current PE ratio is 36.4x.
- Current PE: 36.4x
- Market Cap: 14.3K Cr
- Dividend Yield: 0.24%
How does Fine Organic Industries Ltd's valuation compare to its history?
Fine Organic Industries Ltd's current PE is 36.4x.
- Current PE: 36.4x
- Valuation Assessment: Significantly Overvalued
What is Fine Organic Industries Ltd's price-to-book ratio?
Fine Organic Industries Ltd's price-to-book ratio is 5.8x.
- Price-to-Book (P/B): 5.8x
- Book Value per Share: ₹808
- Current Price: ₹4654
Is Fine Organic Industries Ltd a fundamentally strong company?
Fine Organic Industries Ltd is rated Weak with a fundamental score of 23.89/100. This score is calculated from objective financial metrics
- Revenue Growth YoY: +7.4% (10% weight)
- PAT Growth YoY: -10.8% (10% weight)
- PAT Growth QoQ: -32.1% (10% weight)
- Margins stable (10% weight)
Is Fine Organic Industries Ltd debt free?
Fine Organic Industries Ltd has a debt-to-equity ratio of N/A.
- Total Debt: ₹3 Cr
What is Fine Organic Industries Ltd's return on equity (ROE) and ROCE?
Fine Organic Industries Ltd's return ratios over recent years
- FY2023: ROCE 65.0%
- FY2024: ROCE 31.0%
- FY2025: ROCE 26.0%
Is Fine Organic Industries Ltd's cash flow positive?
Fine Organic Industries Ltd's operating cash flow is positive (FY2025).
- Cash from Operations (CFO): ₹204 Cr
- Free Cash Flow (FCF): ₹-472 Cr
- CFO/PAT Ratio: 50% (adequate)
What is Fine Organic Industries Ltd's dividend yield?
Fine Organic Industries Ltd's current dividend yield is 0.24%.
- Dividend Yield: 0.24%
- Current Price: ₹4654
Who holds Fine Organic Industries Ltd shares — promoters, FII, DII?
Fine Organic Industries Ltd's shareholding pattern (Mar 2026)
- Promoters: 75.0%
- FII (Foreign): 4.4%
- DII (Domestic): 11.7%
- Public: 9.0%
Is promoter holding increasing or decreasing in Fine Organic Industries Ltd?
Fine Organic Industries Ltd's promoter holding has remained stable recently.
- Current Promoter Holding: 75.0% (Mar 2026)
- Previous Quarter: 75.0% (Dec 2025)
- Change: 0.00% (stable)
How long has Fine Organic Industries Ltd been outperforming Nifty 500?
Fine Organic Industries Ltd has been outperforming Nifty 500 for 5 consecutive weeks, indicating building momentum.
Is Fine Organic Industries Ltd a new momentum entry or an established outperformer?
Fine Organic Industries Ltd is an established outperformer with 5 weeks of consecutive Nifty 500 outperformance.
What are the growth catalysts for Fine Organic Industries Ltd?
Fine Organic Industries Ltd has 2 key growth catalysts identified from recent earnings analysis
- Geographical Expansion — Establishing a manufacturing base in the US to serve the Americas market directly.
- New Product Or Brand Launch — Continuous R&D focus on developing new specialty additives for diverse applications.
What are the key risks in Fine Organic Industries Ltd?
Fine Organic Industries Ltd has 3 key risks worth monitoring
- [HIGH] Raw material prices increased in FY26 compared to FY25, with a sequential rise i — Volatility in vegetable oil prices (Soya, Palm, Coconut) which are key inputs.
- [MEDIUM] Implementation of four new Labour Codes effective November 21, 2025 — Actuarial valuation of Gratuity led to an additional estimated provision.
- [LOW] Freight costs have stabilized but remain a monitorable factor for export-heavy b — Reduction in global sea freight rates helped stabilize costs in Q3.
What did Fine Organic Industries Ltd's management say in the latest earnings call?
In Q3 FY26, Fine Organic Industries Ltd's management highlighted
- "Exports accounted for 55% for total revenue in Q2FY26 and H1FY26 [Previous Export Revenue Share guidance]"
- "incorporated a wholly owned subsidiary, Fine Organics Americas LLC, in the United States to set up a manufacturing plant [Initiative: US Manufacturin..."
- "The subsidiary aims to establish a local presence in GCC countries and enhance supply chain efficiency [Initiative: Fine Organics FZE, Dubai]"
What is Fine Organic Industries Ltd's management guidance for growth?
Fine Organic Industries Ltd's management has provided the following forward guidance
- Revenue outlook: Not Given
- Margin outlook: Not Given
- Capex plan: Not Given for Future expansion and manufacturing capabilities in South Carolina
- Management tone: cautious
What sector-specific metrics matter most for Fine Organic Industries Ltd?
Fine Organic Industries Ltd's most important sub-sector-specific KPIs from the latest concall
- Export Revenue % of Total: 53% (YoY -2%) (QoQ -2%) — Export markets showed steady performance but share dropped slightly due to domestic demand improvement.
- Direct Customers: 890+
- Distributors: 240+
- Total Products: 600+
- End Users: 5,400+
- Countries Served: 80+
Is Fine Organic Industries Ltd worth studying for long term investment?
Based on quantitative research signals, here is why Fine Organic Industries Ltd may be worth studying
- Cash flow is positive — CFO ₹204 Cr
What is the investment thesis for Fine Organic Industries Ltd?
Fine Organic Industries Ltd investment thesis summary:
Research Signals (Bull Case)
- Growth catalyst: Geographical Expansion
Risk Factors (Bear Case)
- Margins under pressure
- Appears significantly overvalued
- Key risk: Raw material prices increased in FY26 compared to FY25, with a sequential rise i
What is the future outlook for Fine Organic Industries Ltd?
Fine Organic Industries Ltd's forward outlook based on current data signals
- Earnings Trend: stable
- Revenue Trend: stable
- Margin Trend: volatile
- Valuation: Significantly Overvalued
- Key Catalyst: Geographical Expansion
- Key Risk: Raw material prices increased in FY26 compared to FY25, with a sequential rise i
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.