Fineotex Chemical Limited, one of India’s leading and progressive specialty chemicals producers with a market leading position, has reported Q3 FY24 consolidated revenue of Rs. 1,38.5 crore, a growth of  26.8% YoY whereas PAT reached Rs. 32.9 crore, up by 46.5% in comparison to Q3 FY24.

Return of Capital Employed (ROCE) for Q3 FY24 is 35.2%; Return of Equity (ROE) is 30.4%; and volume growth increased by 37.7% on YoY basis.

Commenting on the performance Sanjay Tibrewala, Executive Director and CFO, Fineotex Chemical said, "We are pleased to share that during the quarter, our company achieved a consolidated revenue of Rs. 138.5 crore. This increase in revenue is attributed to the growth in sales volume across all key segments. The company reported an EBITDA of Rs. 40.4 crore with a margin of 29.1% and a YoY growth of 41.3%. Our PAT was Rs. 32.9 crore with a margin of 23.8% and a growth of 46.5% YoY.

Furthermore, the company has purchased an additional factory land premises of 7 acres at Additional Ambernath, MIDC, Thane, Maharashtra for a total investment of Rs. 35 crores. This has been funded through internal accruals.

"The primary objective of this investment is to meet the demand for our specialty performance chemical products across multiple industries including textile, home care, cleaning, hygiene and drilling. This factory is fungible to adapt to the market dynamics and the evolving needs of our customers. The growth in our revenue and margins underpins our financial and operational efficiency. We remain committed to sustaining this growth trajectory and delivering value to all our stakeholders," stated Tibrewala.