FINEORGCommodities

Fine Organic Industries Limited

Specialty Chemicals · ISIN INE686Y01026 · BSE 541557 · NSE EQ · FV ₹5
Last price
₹5,202
+0.17%today
What this company does

Fine Organic Industries Limited operates in Specialty Chemicals, part of the Commodities sector. It booked ₹694 cr of revenue in its latest quarter (Q1 FY27) and kept 19.9% of sales as profit. It is the 8th largest of 9 Specialty Chemicals companies we track, by market value.

In the report:
68out of 100
Equitytale Health Score
Solid

Healthier than 68% of companies in Commodities, on all six measures of filed financials. Each measure is ranked against the 91–173 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
55

At close. Not part of the score.

Profitability & returns83

How much profit it earns on the money it employs

Balance sheet90

How much it owes, and whether earnings cover the interest

Cash quality71

Whether reported profit actually arrives as cash

Growth & consistency45

Whether sales and profit have grown, and how steadily

Valuation13

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Strong 20% net margin
Sales up 18% vs last year
Profit up 18% vs last year
Promoters hold 75%
No promoter shares pledged
Strong 21% return on equity
Virtually debt-free
Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in FINEORG?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹5,202 +0.17%
latest close · 2026-09-17
1-year return
+82.3%
52-wk low ₹2,80052-wk high ₹6,140
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio28.9Average
LowAverageHigh
P/B ratio5.99High
Below bookModerateHigh
EV / EBITDA19.7High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity20.7%Strong
WeakFairStrong ▸15%
Return on capital27.4%Strong
WeakFairStrong
Net margin19.9%Strong
ThinDecentStrong
EBITDA margin28.8%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.02Comfortable
LowModerateHigh ▸1
Interest cover207.1×Strong
RiskyOkayStrong ▸5×
Current ratio8.49Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹15,949 cr
Book value
₹869
EPS
₹45.06
latest quarter
Net debt
₹-143 cr
more cash than debt
Enterprise value
₹15,806 cr
EBITDA
₹801 cr
annualised
EBIT
₹746 cr
annualised
Operating margin
26.8%
Return on assets
18.4%
Earnings yield
3.46%
P/S
5.74
Sales / share
₹905.6
Tax rate
24.5%
Face value
₹5
Shares
3.1 cr
Working capital
₹2,047 cr
Current assets
₹2,320 cr
Current liabilities
₹273 cr
Delivery %
53.6%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹1,556₹2,371, midpoint ₹2,034

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹694 cr
Other Income₹24 cr
Total Income₹718 cr
Cost of Materials₹393 cr
Purchases of Stock-in-Trade₹1 cr
Inventory Change (±)₹-15 cr
Employee Benefit Expense₹47 cr
Finance Costs₹90 L
Depreciation & Amortisation₹14 cr
Other Expenses₹92 cr
Total Expenses₹533 cr
Profit before Tax₹185 cr
Tax Expense₹45 cr
Share of JV / Associates₹-2 cr
Net Profit₹138 cr
Net margin on total income19.2%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹379 cr52.9%
Employee benefit expense₹47 cr6.5%
Finance costs₹90 L0.1%
Depreciation & amortisation₹14 cr1.9%
Other expenses₹92 cr12.9%
Tax expense₹45 cr6.3%
Profit for the period₹138 cr19.3%
Total income ₹718 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue555 cr625 cr694 cr
Total income576 cr660 cr718 cr
Expenses475 cr516 cr533 cr
Profit before tax101 cr144 cr185 cr
Tax27 cr25 cr45 cr
Net profit (owners' share)74 cr117 cr138 cr
Net margin (owners' share, on revenue)13.3%18.8%19.9%
EPS (₹)24.1138.3245.06
YoY (latest quarter): total income +14.4% · net profit +18.0%
Balance sheet & cash flow · as of Mar 2026
Debt-free
Total assets
₹2,999 cr
Shareholder equity
₹2,665 cr
parent shareholders
Total debt
₹45 cr
Cash
₹188 cr
Cash flow · H1 FY26
Operating
₹163 cr
Investing
₹-105 cr
Financing
₹-27 cr
Peer comparison
Specialty Chemicals · by market value
CompanyPriceMarket capP/E
Pidilite Industries Limited₹1,552₹1.58 L cr45.3
Gujarat Fluorochemicals Limited₹4,472₹49,190 cr55.4
Navin Fluorine International Limited₹8,220₹42,169 cr43.3
Deepak Nitrite Limited₹1,605₹21,889 cr15.9
Aether Industries Limited₹1,623₹21,543 cr85.1
Atul Limited₹6,134₹18,057 cr18.4
Aarti Industries Limited₹477₹17,287 cr27.9
Fine Organic Industries Limitedthis company₹5,202₹15,949 cr28.9
BASF India Limited₹3,602₹15,591 cr11.2
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.21%
trailing 12 months
Dividend / share (TTM)
₹11
Last dividend
₹11
ex 31 Jul 2026
ActionDetailEx-date
Dividend₹11 / share31 Jul 2026
Dividend₹11 / share25 Jul 2025
Dividend₹10 / share13 Aug 2024
Dividend₹9 / share14 Aug 2023
Dividend₹9 / share11 Aug 2022
Dividend₹6 / share13 Aug 2021
Who owns it · 2026-06-30
No pledge
Promoter
75.0%
FII / Foreign
4.3%
DII / Domestic
11.7%
Retail / others
9.0%
Smart-money activity
Insider trades
BoughtBimal Mukesh Shah · Promoters13.91 L · ₹69.5 L27 Mar 24
BoughtJayen Ramesh Shah · Promoters13.91 L · ₹69.5 L27 Mar 24
BoughtMukesh Maganlal Shah · Promoters1.54 L · ₹7.7 L27 Mar 24
Bulk / block deals
short · NSE231 Aug 26
short · NSE129 Jul 26
short · NSE1314 May 26
Stake changes
BoughtAxis Mutual Fund→ 0.10% · 32,1604 Jan 23
BoughtAxis Mutual Fund→ 0.10% · 32,1604 Jan 23
SoldSBI Mutual Fund Under its various schemes→ 2.74% · 3.91 L26 Apr 21
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 18 Aug 2026
See the official result
1
Adoption of Standalone Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Reports of the Board of Directors and Auditors
Backed by 100% of shareholders other than promotersneeded 50%
44.70 L votes for, 11 against · 0% of mutual funds and other big investors said no
2
Adoption of Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Report of the Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
44.70 L votes for, 11 against · 0% of mutual funds and other big investors said no
3
Declaration of Final Dividend of Rs. 11/- (Rupees Eleven Only) per equity share of face value of Rs. 5/- each for the financial year 2025-26
Backed by 100% of shareholders other than promotersneeded 50%
44.70 L votes for, 10 against · 0% of mutual funds and other big investors said no
4
Appointment of Mr. Nikhil Kamat (DIN:00107233) as a Director, liable to retire by rotation
Backed by 99% of shareholders other than promotersneeded 50%
44.46 L votes for, 23,660 against · 1% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 70 named members
owning 75.0% between them · as of 2026-06-30
Tushar Ramesh Shah16.60%
Jayen Ramesh Shah16.04%
Bimal Mukesh Shah10.44%
Archana Yatin Sankholkar7.49%
Mukesh Maganlal Shah6.59%
Anjali Kunal Patil6.49%
Neeta Jayen Shah2.00%
Bina Tushar Shah1.87%
Business done with them
FY2025 · 15 of the group
The company paid ₹44 cr to companies in the promoter group last year — about 1.9% of its ₹2,269 cr revenue and received ₹15 cr back from them.
Oleofine Organics SDN BHD
Sold goods to them · Sales of goods Sale of components Export Commission
₹15 cr
company received
Tushar Ramesh Shah
Other payments to them · DIRECTORS REMUNERATION DIVIDEND PAID AND RENT EXPENSES
also owns 16.60% of the company
₹11 cr
company paid
Jayen Ramesh Shah
Other payments to them · DIVIDEND PAID REIMBURSEMENT OF EXPENSES DIRECTORS REMUNERATION, RENT EXPENSES
also owns 16.04% of the company
₹11 cr
company paid
Bimal Mukesh Shah
Other payments to them · DIVIDEND PAID REIMBURSEMENT OF EXPENSES DIRECTORS REMUNERATION RENT EXPENSES
also owns 10.44% of the company
₹9 cr
company paid
Mukesh Maganlal Shah
Other payments to them · DIRECTORS REMUNERATION AND DIVIDEND PAID AND REIMBURSEMENT OF EXPENSES
also owns 6.59% of the company
₹8 cr
company paid
Fine Organic Industries
Other payments to them · Rent Expenses, Interest Income on Advances / Security deposit
₹2 cr
company paid
Olefine Organics
Other payments to them · Rent Expenses, Interest Income on Advances / Security deposit
₹72 L
company paid
Jayshree Mukesh Shah
Other payments to them · DIVIDEND PAID, RENT
also owns 1.85% of the company
₹66.1 L
company paid
Neeta Jayen Shah
Other payments to them · DIVIDEND PAID
also owns 2.00% of the company
₹66 L
company paid
Manali Vishal Doshi
Other payments to them · DIVIDEND PAID, Salary to Relatives
also owns 0.40% of the company
₹58.4 L
company paid
Bina Tushar Shah
Other payments to them · DIVIDEND PAID, RENT
also owns 1.87% of the company
₹57.4 L
company paid
Rhea Tushar Shah
Other payments to them · DIVIDEND PAID SALARY TO RELATIVES
also owns 0.68% of the company
₹35.9 L
company paid
Shaili Nirav Doshi
Other payments to them · DIVIDEND PAID
also owns 0.40% of the company
₹12.3 L
company paid
Esha Tushar Shah
Other payments to them · DIVIDEND PAID
also owns 0.68% of the company
₹10.7 L
company paid
Smoothex Chemicals Pvt Ltd
Other payments to them · RENT EXPENSES
₹5 L
company paid
Oleofine Organics SDN BHD
Other payments to them · Sales of goods Sale of components Export Commission
₹2.6 L
company paid
Fine Organic Industries
Other income from them · Rent Expenses, Interest Income on Advances / Security deposit
₹1.1 L
company received
Mukesh Maganlal Shah
Other income from them · DIRECTORS REMUNERATION AND DIVIDEND PAID AND REIMBURSEMENT OF EXPENSES
also owns 6.59% of the company
₹0.24 L
company received
Olefine Organics
Other income from them · Rent Expenses, Interest Income on Advances / Security deposit
₹0.17 L
company received

The company also transacted with 17 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.