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FINEORG · price
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Fine Organic Industries reported FY26 revenue of INR 2,365 crores (up 4.3% YoY) and PAT of INR 417 crores (up 1.6% YoY) with EBITDA margin at 20.4%. The company announced acquisition of up to 80% stake in Oleofine Organics BHD, Malaysia for approximately INR 82.9 crores, expected to complete within 3 months. Key expansion projects include the JNPA SEZ plant (INR 700-750 crores investment, commercial production targeted H2 FY28), a US manufacturing facility (acquired 160 acres in South Carolina, Phase 1 targeted 18-24 months after construction start), and a new Dubai subsidiary for GCC markets. Management flagged elevated raw material costs due to palm oil price hikes from increased biodiesel demand and expects prices to remain high in FY27. Customers are cooperative, accepting short-term contracts and freight cost increases. The Patalganga food additives plant is ramping up toward full capacity.
The company demonstrates resilience amid raw material inflation and geopolitical disruptions through diversified geography and customer cooperation. Multiple expansion initiatives (Malaysia acquisition, JNPA SEZ, US plant, Dubai subsidiary) position Fine Organics for long-term growth but require significant capital deployment through FY28. Near-term margin may face pressure from input costs.