Fine Organics Share Price Target Forecast 2022, 2023, 2025, 2030

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05 JANUARY 2022

Prabhudas Lilladher recommends Fine Organic Industries with a target price of Rs 4400.

In its research report dated January 5, 2022, Prabhudas Lilladher suggested a buy rating on Fine Organic Industries with a target price of Rs 4400.

FINEORG is India’s leading producer of oleochemical-based (green) polymers and food additives, and one of the world’s top 5-6 successful players. It operates at the top of the oleochemicals value chain (limited competition) and has enough capacity for growth till FY24E (60 percent capacity increase since FY19) to take advantage of the growing global usage of green chemicals. As RoCE increases to 33 percent, we project a 24 percent revenue CAGR and a 41 percent profitability CAGR during FY21-24E (20 percent CAGR on a pre-covid basis) (19 percent in FY21, 32 percent avg over FY16-20). Self-sustaining development would be enabled by a solid net cash balance sheet (Rs 1.5 billion) and significant OCF creation (Rs 6 billion expected during FY22-24E). While record raw material inflation has put pressure on margins, long-term profits growth is structural in nature and provides a unique proxy bet on consumption-oriented industries (food, plastics, cosmetics, pharma, feed nutrition, coatings, rubber etc).


We begin coverage of Fine Organic Industries Ltd (FINEORG) with a BUY rating and a target price of Rs 4400, based on a 28x FY24E EV/EBITDA multiple (implied PE of 40x FY24E). is the source for this information.

20 November 2021

HDFC Securities recommends buying Fine Organics, a mid-cap stock with a target price of Rs. 4,220.

Fine Organic Industries Limited’s stock has a target price of INR 4,220, according to HDFC Securities, one of India’s top stock brokerage companies. The stock, which had a market price of Rs 3,571 at the time of the buy call and is currently trading at Rs 3,580 on the National Stock Exchange, is expected to gain 18 percent, according to the brokerage (NSE). Fine Organics is a leading producer of chemical additives for foods, plastics, rubbers, paints, inks, cosmetics, coatings, textile auxiliaries, lubricants, and a range of other applications in India.

Fine Organic Industries Ltd.’s financial performance in the second quarter.

The brokerage claims that the company’s “Strong domestic demand, ongoing traction in exports pushing volumes, and greater realisations drove revenue growth of 23/62 percent QoQ/YoY to INR 4.4 billion. In the first half of FY22, exports accounted for 60% of total income. In Q2, gross margin improved sequentially to 33.3 percent (+104/- 431bps QoQ/YoY), as consumers are increasingly tolerating price increases due to increased raw material prices and higher freight charges “”It costs.”

The brokerage noted that the company’s “EBITDA came in at INR 0.7 billion, +41/+43 percent QoQ/YoY, with EBITDA margin increasing sequentially to 16.7% (+212/-223bps QoQ/YoY), mainly to lower opex, while APAT was INR 0.5 billion, (+39/+60 percent QoQ/YoY).”

With a target price of INR 4,220, buy Fine Organic Industries Ltd.

“Our BUY recommendation on Fine Organic Industries (FOIL) with a target price of INR 4,220 is based on constant focus on R&D, diversified product portfolio, capacity-led expansion growth opportunity, and leadership in oleo-chemical based additives in the domestic and global markets with a loyal customer base,” according to HDFC Securities in its research report.

“Over FY22-24E, we project FOIL’s PAT to expand at a 41 percent compound annual growth rate (CAGR), driven by a 36 percent CAGR in EBITDA. In the absence of large capital expenditures in the following years, the RoCE would rise from 20% in FY22E to 29% in FY24E. Due to a 22 percent increase in sales, lower-than-expected raw material costs, lower-than-expected depreciation, and higher-than-expected other income, Q2 EBITDA/APAT was 26/37 percent over our expectations. Revenue increased by 23/62 percent in the second quarter “The brokerage has also said that “QoQ/YoY” is the case. is the source of this information.

August 20, 2021

Why is this Saurabh Mukherjea chemical stock a ‘Buy’ at HDFC Securities?

Brokerages are positive on Fine Organic, a chemical manufacturer, and believe the stock has room to rise. Fine Organic Industries (FOIL) has a Buy recommendation from HDFC Securities, with a target price of $3,480 per share, based on the company’s constant focus on R&D, diversified product portfolio, capacity-led expansion growth opportunity, and leadership in oleo-chemical based additives in the domestic and global markets, as well as a loyal customer base.

The company’s exports have been strong, but domestic activity has been hampered by the lockdown restrictions. Export revenue now accounts for 62 percent of overall revenue, up from 55 percent previously. Because of rising raw material and freight prices, gross margin declined in the first quarter. FOIL has been crucial in passing on the increase in raw material prices to its customers, according to HDFC Securities, and has recently revised contracts so that clients pay the freight rate in effect on the delivery date.

Another brokerage company, Motilal Oswal, predicts that a ramp-up in capacity utilisation to optimal levels by FY23, as well as the robust demand forecast for the Indian Food Emulsifiers market, would enable Fine Organic expand faster than the industry.

Fine Organic Industries is a global leader in the production of oleo-chemical-based foods, polymers, and specialty additives. It is a prominent manufacturer of speciality additives for food, plastics, rubbers, paints, inks, cosmetics, coatings, textile auxiliaries, lubricants, and a variety of other uses.

Oleofine Organics Thailand Co. (OFT) and Oleofine Organics Sdn. (OFM) – Malaysia are forming a new joint venture plant in Thailand. “Once the JV is established, the firm will have better access to its principal raw material, palm oil – the top (88 percent) producers of palm oil globally are Indonesia, Malaysia, and Thailand,” Motilal wrote in a note.

Fine Organic stock has a Neutral rating from the firm, with a target price of $3,134 per share. The demand picture appears to be positive, but Motilal anticipates margins to stay low.

Marcellus Investment Managers’ Founder and Chief Investment Officer is money manager Saurabh Mukherjea. Marcellus Investment’s Little Champs Portfolio includes Fine Organic. is the source of this information.

18 May, 2021

Saurabh Mukherjea’s stake in Fine Organics has increased by 41% since April.

It’s a corporation that few people are familiar with, and it practically goes unnoticed. Fine Organic Industries Ltd (BO:FINO) drew attention after Marcellus Investment Managers’ Saurabh Mukherjea added it to the PMS firm’s portfolio in September 2020.

At the end of September, the stock was trading at Rs 2,672. It dropped to Rs 2,283 on March 31, 2021, but has since risen almost 41% to end at Rs 3,229.9 on May 17.

The firm is India’s largest oleochemical firm and one among the world’s top six. Its product is utilised in a variety of sectors, including plastic, packaging, food, cosmetics, and pharmaceuticals. The food and polymer additives area accounts for over 65 percent of Fine Organics’ sales.

Promoters own 75 percent of the firm as of March 31, while foreign institutional investors (FIIs) own 5.9% and mutual funds own 13.2 percent. The corporation is owned by 4.9 percent of retail investors. This firm is clearly unknown or untrustworthy to regular investors.

On April 16, brokerage firm LKP Securities rated the business as a ‘buy’ in a report. It had set a target price of Rs 3,232 for the stock. Oleochemicals, according to the report, are still in their infancy. Fine Organics “is a market leader in the oleochemical business because of its excellent R&D competence, specific expertise, and indigenously produced patented technology.” This business has substantial entry hurdles, such as greater R&D costs, strict regulations, and a long gestation period for product clearance, making it an oligopolistic market with a small number of worldwide participants.” is the source of this information.

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