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Fineotex Chemical Limited
(FCL)
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Rating:69Neutral
Price Target:
₹65.00
▲(34.08% Upside)
Action:Downgraded
Date:10/07/26
The score is driven primarily by strong profitability and a conservatively positioned balance sheet, supported by positive technical trend and momentum. The main constraints are weak recent cash flow (negative operating/free cash flow in FY2026) and a high valuation (P/E 49.33 with low yield), which meaningfully temper the overall rating.
Positive Factors
Strong Revenue Expansion
The company has demonstrated strong multi-year revenue expansion, including a sharp FY2026 rebound. Sustained demand for textile-processing chemicals can support broader customer penetration, increase operating scale, and provide a durable base for future earnings growth.
Negative Factors
Weak Recent Cash Conversion
The shift to negative operating and free cash flow means accounting profits are not currently translating into cash generation. If this persists, working-capital needs or reinvestment could consume balance-sheet flexibility and reduce funds available for expansion or shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Expansion
The company has demonstrated strong multi-year revenue expansion, including a sharp FY2026 rebound. Sustained demand for textile-processing chemicals can support broader customer penetration, increase operating scale, and provide a durable base for future earnings growth.
Read all positive factors
Fineotex Chemical Limited (FCL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹65.90B
Dividend Yield0.23%
Average Volume (3M)1.56M
Price to Earnings (P/E)47.1
Beta (1Y)1.26
Revenue Growth91.44%
EPS Growth19.67%
CountryIN
Employees214
SectorGeneral
Sector StrengthN/A
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)1.20
Shares Outstanding1,164,500,900
10 Day Avg. Volume1,567,357
30 Day Avg. Volume1,561,821
Financial Highlights & Ratios
PEG Ratio-0.20
Price to Book (P/B)2.18
Price to Sales (P/S)2.49
P/FCF Ratio-40.31
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.1
Revenue Forecast (FY)₹18.84B
Fineotex Chemical Limited Business Overview & Revenue Model
Company Description
Founded in 1979 and based in Mumbai, India, Fineotex Chemical Limited is a global manufacturer and distributor of a broad spectrum of specialty and auxiliary chemicals. The company develops tailored chemical solutions for the textile industry, cov...
How the Company Makes Money
FCL primarily makes money by selling specialty textile chemicals to industrial customers (e.g., textile processors, dyeing and finishing units, and garment-related processing facilities). Revenue is generated from (i) product sales of chemical for...
Fineotex Chemical Limited Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
91
Very Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.12B | 7.72B | 5.33B | 5.69B | 5.17B | 3.67B |
| Gross Profit | 2.76B | 2.01B | 2.06B | 2.17B | 1.78B | 1.30B |
| EBITDA | 1.96B | 1.68B | 1.52B | 1.65B | 1.13B | 767.24M |
| Net Income | 1.22B | 1.09B | 1.08B | 1.20B | 883.16M | 551.74M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 11.59B | 8.15B | 5.48B | 4.22B | 3.39B |
| Cash, Cash Equivalents and Short-Term Investments | 732.33M | 732.33M | 330.01M | 735.06M | 611.90M | 308.35M |
| Total Debt | 0.00 | 81.96M | 2.17M | 51.90M | 72.80M | 19.08M |
| Total Liabilities | -9.40B | 2.19B | 757.59M | 945.90M | 659.02M | 700.96M |
| Stockholders Equity | 9.40B | 8.82B | 7.31B | 4.47B | 3.49B | 2.62B |
Cash Flow | ||||||
| Free Cash Flow | 81.22M | -476.20M | -73.46M | 494.76M | 887.62M | -91.37M |
| Operating Cash Flow | 200.95M | -222.29M | 693.34M | 973.81M | 1.08B | 133.75M |
| Investing Cash Flow | -51.66M | 987.46M | -2.73B | -468.50M | -1.03B | -7.44M |
| Financing Cash Flow | -49.37M | -611.54M | 1.76B | -239.11M | -64.39M | -56.59M |
Fineotex Chemical Limited Technical Analysis
Positive
48.48
Price Trends
50.70
Positive
45.06
Positive
34.29
Positive
Market Momentum
1.65
Positive
53.27
Neutral
46.01
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:FCL, the sentiment is Positive. The current price of 48.48 is below the 20-day moving average (MA) of 56.60, below the 50-day MA of 50.70, and above the 200-day MA of 34.29, indicating a neutral trend. The MACD of 1.65 indicates Positive momentum. The RSI at 53.27 is Neutral, neither overbought nor oversold. The STOCH value of 46.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:FCL.
Fineotex Chemical Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹65.90B | 47.14 | ― | 0.22% | 91.44% | 19.67% | |
61 Neutral | ₹91.57B | 125.51 | ― | 0.82% | 90.13% | -6.80% | |
57 Neutral | ₹23.61B | 15.65 | ― | 0.12% | 19.47% | 11.49% | |
57 Neutral | ₹22.35B | 32.62 | ― | 0.13% | 27.57% | 135.05% | |
56 Neutral | ₹66.82B | 32.59 | ― | 0.54% | 11.08% | 34.10% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
42 Neutral | ₹17.16B | 344.00 | ― | 0.47% | 8.40% | ― |
* General Sector Average
IN:FCL
Fineotex Chemical Limited
56.59
32.77
137.57%
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Fineotex Chemical Limited Corporate Events
Fineotex Forms U.S. Step-Down Subsidiary to Drive Specialty Chemicals Expansion
Sep 1, 2026
Fineotex Chemical Limited has expanded its global structure by incorporating a wholly owned step-down subsidiary, Fineotex Holdings Inc., in the U.S. state of Delaware through its existing subsidiary Fineotex Biotex HealthGuard FZE. The new entity...
Fineotex Chemical Publishes Q1 FY2026-27 Investor Presentation
Jul 23, 2026
Fineotex Chemical Limited has submitted its investor presentation for the first quarter of FY2026-27 to the Bombay Stock Exchange and the National Stock Exchange, in line with SEBI’s listing and disclosure regulations. The presentation, deta...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.