Fineotex Chemical Limited's Cash Flow From Operation up by 136%

Company clinches a robust annual growth

MUMBAI, July 16, 2020 /PRNewswire/ -- Fineotex Chemical, one of India's largest and most progressive speciality chemical manufacturers, has secured a robust growth in its Annual Result ending March 2020. 

HIGHLIGHT OF CONSOLIDATED RESULTS:

Consolidated Year Ending March 2020 (Y-o-Y)

• Net Cash Flow from Operation has increased to INR 2,833 Lakhs from INR 1,202 Lakhs. The Cash Flow from Operation registered a growth of 136% approx. The Revenue from Operations of the Company has increased to INR 19,634 Lakhs from INR 18,233 Lakhs. The Revenue from Operations registered a growth of 8% approx.
• EPS before exceptional items has increased to INR 2.31 per share from INR 2.01 per share. The EPS registered a growth of 15% approx.

Consolidated Q4-20 (Y-o-Y)

• EPS before exceptional items has increased to INR 0.64 per share from INR 0.40 per share. The EPS registered a growth of 55% approx.

HIGHLIGHT OF STANDALONE RESULTS:

Standalone Year Ending March 2020 (Y-o-Y)

• Net Cash Flow from Operation has increased to INR 2,221 Lakhs from INR 336 Lakhs. The Cash Flow from Operation registered a growth of 561%
• The Revenue from the Operation of the Company has increased to INR 12,885 Lakhs from INR 11,264 Lakhs. The Revenue from Operation registered a growth of 15% approx.
• EPS before exceptional Items has increased to INR 2.10 per share from INR 1.54 per share. The EPS registered a growth of 37% approx.

Standalone Q4-20 (Y-o-Y)

• EPS before exceptional items has increased to INR 0.60 per share from INR 0.34 per share. The EPS registered a growth of 48.8%
• Operating EBIDTA has increased to INR 725 Lakhs from INR 667 Lakhs. The Operating EBIDTA registered a growth of 9%

Commenting on the successful result, Mr. Sanjay Tibrewala, Executive Director and CFO, Fineotex Chemical, said, "We are pleased to announce a robust result in the ongoing situation. We have achieved working capital efficiency during the year, therefore our Cash flow conversion to EBIDTA is very strong at 82% on a consolidation basis. We expect the industry to do better in the coming months which will lead to better performance of the company." 

He further added, "We have revamped our marketing model and we are aggressively engaging in marketing activities, exhibitions, and all. Investors will also be able to see the change in the financial outcome with this change."

About Fineotex Chemical Limited:

Fineotex Group was founded in 1979 and is engaged in the manufacturing of Specialty Chemicals and Enzymes. Fineotex is one of India's largest and most progressive speciality textile chemical manufacturers. The company manufactures chemicals for the entire value chain for the textile industry including pretreatment, dyeing, printing, and finishing process. It also manufactures other chemicals for various industries like agro, adhesives, construction, water treatment, etc. With more than 400 products catering to various industries. FCL's key strength lies in the strong balance sheet with Zero Debt; High ROE and ROCE, Consistently Dividend-paying. Strong Industry knowledge, over three decades of operations, extremely strong brand loyalty, and strong R&D capabilities help them increase customization levels of their products.