By: ICN Bureau
Last updated : August 02, 2024 9:39 am
Out of the total revenue, domestic revenue stood at 45% and export revenue at 55%
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.