Fine  Organic  Industries  Limited,  a  leading  manufacturer  of  specialty  additives  in  India  with  more  than  510 different products and grades used in food, feeds, polymer, cosmetics, paint, ink, coatings, etc. has announced  its unaudited financial results for the Quarter ended 30th June 2024. 

The company has posted Q1 FY25 net profit at Rs. 113.3 crore as compared to Rs. 99.8 crore in Q1 FY24 and Rs. 114.6 crore in Q4 FY24. During the quarter, revenue from operations stood at Rs. 549.7 crore as compared to Rs. 547.2 crore in Q1 FY24 and Rs. 546.9 crore in Q4 FY24.

In Q1 FY25, EBITDA stood at Rs. 139.7 crore as compared to Rs. 141.2 crore in Q1 FY24 and Rs. 143.5 crore in Q4 FY24.

According to the company, out of the total revenue, domestic revenue stood at 45% and export revenue at 55%. Also, demand in the domestic market remains quite strong. The US market has started picking up, whereas Europe is still experiencing slowdown.

Meanwhile, tThe Red Sea crisis and container availability issues have increased overall lead time and freight costs.  Prices of some vegetable oils have risen and volatility may remain due to the weather’s impact on crops.

“All our plants are currently running at optimum capacity, except for the Patalganga plant, where there is still some room for capacity ramp‐up.  We have established a wholly owned subsidiary, Fine Organic Industries (SEZ) Private Limited, in the Maharashtra SEZ area. We have paid the full amount for the land and are awaiting approval from JNPA to execute the lease deed. Our  Thailand  joint  venture  has  commenced  production  trials  and  is  in  the  process  of  product standardisation,” the company said.