Finonex chemical posted good number

“In the third quarter of fiscal year 2024, Fineotex Chemicals (FCL) recorded consolidated revenue of INR 1,385 million, marking a growth of 26% year-over-year (YoY) and a decrease of 5% quarter-over-quarter (QoQ). Cumulatively for the first nine months of fiscal year 2024, revenue amounted to INR 4,160 million, indicating a growth of 10%. The volume also experienced robust growth, expanding by 37% YoY.
EBITDA reached INR 404 million, supported by gross margins of 42%, resulting in an EBITDA margin of 29% with a notable expansion of 301 basis points (bps). For the nine-month period, EBITDA stood at INR 1,101 million, growing by 38%. Profit after tax (PAT) for the quarter amounted to INR 329 million, with margins at 24%, showing an expansion of 320 bps YoY. For the first nine months of fiscal year 2024, PAT was INR 905 million, experiencing a growth of 42%.
On a standalone basis, FCL witnessed a nearly 100% growth in its PAT. Earnings per share (EPS) for the quarter reached INR 2.95/share, compared to INR 2 in the corresponding quarter of the previous year. For the nine-month period, EPS stood at INR 8.10, compared to INR 5.64, reflecting a growth of 43%. Additionally, the Board of Directors approved a dividend of INR 1.20/share, representing a payout ratio of 15% for the first nine months of fiscal year 2024.”