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Fine Organic Industries Limited (FINEORG.NS)

INR5,118.50 +134.50 (+2.70%)
IN NSE Basic Materials Chemicals - Specialty
Address Fine House 400077
Mumbai, IN
CEO Tushar Ramesh Shah
IPO 2018-07-02
ISIN INE686Y01026

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Also trades on Bombay Stock Exchange · FINEORG.BO (INR) National Stock Exchange of India · FINEORG.NS (INR)
Description

Fine Organic Industries Limited is a company specializing in the worldwide production, processing, and trade of oleochemical-based additives. Operating in both India and international markets, their product range encompasses food additives, such as emulsifiers, antifungal agents, and other custom blends. They also supply the plastics industry with a variety of additives, including dispersing agents, processing aids, anti-static compounds, flow improvers, lubricants, slip agents, and antifogging solutions for use in polymers, masterbatches, foamed products, PVC items, and engineering plastics. Furthermore, the company develops specialized additives for cosmetic, pharmaceutical, coating, and various other industrial applications. Founded in 1970, Fine Organic Industries Limited is headquartered in Mumbai, India.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
INR5,118.50 +134.50 (+2.70%)
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Volume Profile
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Liquidity & share structure
Average Volume
14.4K
Beta
0.19
Float Shares
7.67M
Free Float %
25.0%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-1.38% -1.65% -0.33% -2.07% +4.39% +12.06% -3.48% +2.57% +58.91% +460.61% +460.61%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
5,118.50
DCF (Unlevered) 8,431.90 +64.7%
DCF (Levered) 7,243.06 +41.5%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 70% Bullish
Rating 2026-05 Change
Strong Buy 1 0
Buy 6 0
Hold 0 0
Sell 2 0
Strong Sell 1 0
Quality scores
Altman Z-Score
27.77
Safe zone
Piotroski F-Score
4 / 9
Average
MOAT Score
6 / 10
Developing
Composite Rating
A-
Overall Score
4 / 5
High
DCF Score
5 / 5
High
ROE Score
5 / 5
High
ROA Score
5 / 5
High
D/E Score
3 / 5
Medium
P/E Score
2 / 5
Medium
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
  • Revenue growth Chemicals - Specialty: +4.7%
    +4.3% Q1'26: +2.4% (vs Q1'25)
  • EPS growth Chemicals - Specialty: +13.2%
    +1.6% Q1'26: +21.0% (vs Q1'25)
  • FCF margin FCF growth · Chemicals - Specialty: +44.1%
    +13.6% Q1'26: +19.8% (vs Q1'25)
  • EBIT margin Chemicals - Specialty: +8.8%
    +18.0% Q1'26: +17.9% (vs Q1'25)
  • ROIC Chemicals - Specialty: +5.6%
    +25.5% Q1'26: +28.7% (vs Q1'25)
  • Share dilution Chemicals - Specialty: +0.1%
    +0.0% Q1'26: +0.0% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Chemicals - Specialty: 0.18×
    0.14× Q1'26: 0.13× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.20) × ERP
WACC = 100% × Ke + 0% × Kd (6.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 8,431.96 Current price: 5,118.50
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Mar 2019
actual
Mar 2020
actual
Mar 2021
actual
Mar 2022
actual
Mar 2023
actual
Mar 2024
actual
Mar 2025
actual
Mar 2026
8 Rev. Ana.
6 EPS Ana.
Mar 2027
9 Rev. Ana.
7 EPS Ana.
Mar 2028
9 Rev. Ana.
9 EPS Ana.
Mar 2029
2 Rev. Ana.
2 EPS Ana.
Mar 2030
1 Rev. Ana.
1 EPS Ana.
Revenue
10.60B
est: 10.41B (+1.9%)
10.38B
est: 11.19B (-7.2%)
11.33B
est: 11.00B (+3.0%)
18.76B
est: 18.71B (+0.3%)
30.23B
est: 30.81B (-1.9%)
21.23B
est: 21.25B (-0.1%)
22.69B
est: 22.13B (+2.6%)
23.44B
22.83B – 23.81B
+5.9% YoY
25.53B
24.56B – 26.39B
+9.0% YoY
28.77B
26.80B – 31.92B
+12.7% YoY
34.53B
32.65B – 37.08B
+20.0% YoY
36.99B
34.98B – 39.72B
+7.1% YoY
EBITDA
2.34B
est: 2.33B (+0.5%)
2.41B
est: 2.69B (-10.7%)
1.99B
est: 2.55B (-21.8%)
3.65B
est: 3.17B (+15.2%)
8.30B
est: 3.50B (+137.1%)
5.31B
est: 4.88B (+8.9%)
5.09B
est: 5.05B (+0.8%)
5.38B
5.24B – 5.47B
+6.5% YoY
5.86B
5.64B – 6.06B
+9.0% YoY
6.61B
6.16B – 7.33B
+12.7% YoY
7.93B
7.50B – 8.52B
+20.0% YoY
8.50B
8.03B – 9.12B
+7.1% YoY
EBIT
2.17B
est: 2.07B (+4.7%)
2.06B
est: 2.36B (-12.8%)
1.53B
est: 2.13B (-28.2%)
3.26B
est: 2.65B (+22.7%)
7.83B
est: 2.93B (+167.2%)
4.78B
est: 4.43B (+8.0%)
4.61B
est: 4.39B (+4.9%)
4.88B
4.75B – 4.96B
+11.1% YoY
5.32B
5.11B – 5.50B
+9.0% YoY
5.99B
5.58B – 6.65B
+12.7% YoY
7.19B
6.80B – 7.72B
+20.0% YoY
7.70B
7.28B – 8.27B
+7.1% YoY
Net Income
1.36B
est: 1.44B (-5.3%)
1.65B
est: 1.49B (+10.6%)
1.20B
est: 1.71B (-29.5%)
2.60B
est: 2.13B (+22.1%)
6.18B
est: 2.35B (+163.4%)
4.12B
est: 4.25B (-3.2%)
4.10B
est: 4.14B (-0.9%)
3.86B
3.64B – 4.07B
-6.9% YoY
4.26B
3.90B – 4.65B
+10.4% YoY
4.69B
4.03B – 5.57B
+10.1% YoY
5.61B
5.49B – 5.73B
+19.7% YoY
6.98B
6.48B – 7.64B
+24.3% YoY
SGA
638.07M
est: 570.16M (+11.9%)
738.71M
est: 686.70M (+7.6%)
803.80M
est: 1.43B (-43.8%)
902.40M
est: 1.78B (-49.3%)
1.07B
est: 1.96B (-45.5%)
1.24B
est: 1.41B (-11.7%)
1.38B
est: 2.84B (-51.2%)
1.55B
1.51B – 1.58B
-45.3% YoY
1.69B
1.62B – 1.75B
+9.0% YoY
1.90B
1.77B – 2.11B
+12.7% YoY
2.28B
2.16B – 2.45B
+20.0% YoY
2.45B
2.31B – 2.63B
+7.1% YoY
EPS
44.43
est: 46.90 (-5.3%)
53.74
est: 54.20 (-0.8%)
39.24
est: 47.16 (-16.8%)
84.67
est: 87.59 (-3.3%)
201.60
est: 188.17 (+7.1%)
134.34
est: 138.74 (-3.2%)
133.89
est: 134.10 (-0.2%)
127.70
118.66 – 132.85
-4.8% YoY
140.40
127.36 – 151.82
+9.9% YoY
150.14
131.37 – 181.81
+6.9% YoY
183.00
179.13 – 186.87
+21.9% YoY
227.50
211.42 – 249.33
+24.3% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-29 A- 4/5 5/5 5/5 5/5 3/5 2/5 1/5
2026-05-27 A- 4/5 5/5 5/5 5/5 3/5 2/5 1/5
2026-05-26 A- 4/5 5/5 5/5 5/5 3/5 2/5 1/5
2026-05-25 A- 4/5 5/5 5/5 5/5 3/5 2/5 1/5
2026-05-22 A- 4/5 5/5 5/5 5/5 3/5 2/5 1/5
2026-05-21 A- 4/5 5/5 5/5 5/5 3/5 2/5 1/5
2026-05-20 A- 4/5 5/5 5/5 5/5 3/5 2/5 1/5
2026-05-19 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-05-18 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-05-15 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-05-14 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-05-13 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-05-12 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-05-11 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-05-08 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-05-07 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-05-06 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-05-05 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-05-04 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-04-30 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-04-29 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-04-28 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-04-27 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-04-24 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-04-23 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-22 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-21 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-20 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-17 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-16 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
1.43B
OE per share TTM
44.30
Owner's Yield
1.01%
Maintenance CapEx ratio
36.62%
Maint CapEx / Avg PPE
15.4%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 3 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 State Street SPDR S&P Emerging Markets Small Cap ETF EWX 0.03% 242.0K 0.65%
2 State Street SPDR Portfolio Emerging Markets ETF SPEM 0.00% 860.7K 0.07%
3 State Street SPDR S&P Emerging Asia Pacific ETF GMF 0.00% 1.2K 0.49%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
5.02M
Shares Outstanding
30.66M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Tushar Ramesh Shah Chief Executive Officer & Whole Time Director 59M male
Jayen Ramesh Shah MD & Director 59M male
Mukesh Maganlal Shah Chairman & Whole Time Director 59M male
Bimal Mukesh Shah Executive Director 59M male
Nikhil Dattatray Kamat Senior Vice President of Operation & Whole Time Director 20M male
Pooja Bhavesh Lohor Company Secretary & Compliance Officer 1M female
Sonali Bhadani Chief Financial Officer female
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits