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Fine Organic Industries Ltd.
(FINEORG)
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Rating:70Neutral
Price Target:
₹6,181.00
▲(43.83% Upside)
Action:Reiterated
Date:08/20/26
The score is primarily supported by strong financial resilience (low leverage, growing equity, and solid cash generation) and a constructive technical trend (price above major moving averages with positive momentum). These positives are tempered by valuation (high P/E and low dividend yield) and recent normalization/volatility in growth and margins versus the 2023 peak.
Positive Factors
Strong balance sheet and low leverage
Consistent equity growth and very low leverage provide financial flexibility for investment and resilience through weaker demand. Even after debt rose in 2026, the reported 682M remains modest against the 26.65B equity base, limiting balance-sheet strain.
Negative Factors
Revenue and margin growth has normalized
Recent revenue expansion has been slower and profitability has normalized materially from the 2023 peak. Lower gross and operating profit in 2026 versus prior years could constrain earnings growth and reduce the funds available for expansion if weaker momentum persists.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet and low leverage
Consistent equity growth and very low leverage provide financial flexibility for investment and resilience through weaker demand. Even after debt rose in 2026, the reported 682M remains modest against the 26.65B equity base, limiting balance-sheet strain.
Read all positive factors
Fine Organic Industries Ltd. (FINEORG) vs. iShares MSCI India ETF (INDA)
Market Cap
₹154.84B
Dividend Yield0.22%
Average Volume (3M)2.23K
Price to Earnings (P/E)35.8
Beta (1Y)1.09
Revenue Growth7.26%
EPS Growth5.73%
CountryIN
Employees938
SectorGeneral
Sector StrengthN/A
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)134.02
Shares Outstanding30,659,975
10 Day Avg. Volume2,496
30 Day Avg. Volume2,235
Financial Highlights & Ratios
PEG Ratio18.20
Price to Book (P/B)4.55
Price to Sales (P/S)5.13
P/FCF Ratio34.26
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)152.04
Revenue Forecast (FY)₹26.64B
Fine Organic Industries Ltd. Business Overview & Revenue Model
Company Description
Fine Organic Industries Limited is a company specializing in the worldwide production, processing, and trade of oleochemical-based additives. Operating in both India and international markets, their product range encompasses food additives, such a...
How the Company Makes Money
Fine Organic Industries primarily makes money by manufacturing and selling specialty chemical additives and ingredients to business customers (B2B). Revenue is generated through (1) sales of polymer/plastics additives (including functional additiv...
Fine Organic Industries Ltd. Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
86
Very Positive
Cash Flow
74
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 23.66B | 22.69B | 21.23B | 30.23B | 18.76B |
| Gross Profit | 7.29B | 9.21B | 8.87B | 12.24B | 6.75B |
| EBITDA | 6.03B | 5.13B | 5.34B | 8.31B | 3.66B |
| Net Income | 4.17B | 4.10B | 4.12B | 6.18B | 2.60B |
Balance Sheet | |||||
| Total Assets | 29.99B | 25.11B | 21.08B | 18.07B | 12.36B |
| Cash, Cash Equivalents and Short-Term Investments | 14.49B | 9.50B | 10.49B | 5.26B | 2.33B |
| Total Debt | 682.04M | 27.95M | 42.32M | 285.25M | 585.27M |
| Total Liabilities | 3.34B | 2.15B | 1.87B | 2.65B | 2.77B |
| Stockholders Equity | 26.65B | 22.95B | 19.21B | 15.41B | 9.59B |
Cash Flow | |||||
| Free Cash Flow | 3.54B | 764.03M | 5.48B | 4.04B | 56.31M |
| Operating Cash Flow | 4.96B | 2.04B | 6.35B | 4.85B | 669.76M |
| Investing Cash Flow | -4.77B | -6.69B | -3.91B | -847.45M | -562.86M |
| Financing Cash Flow | 13.89M | -343.43M | -585.32M | -686.52M | -681.91M |
Fine Organic Industries Ltd. Technical Analysis
Neutral
4297.45
Price Trends
5211.91
Negative
5104.33
Positive
4780.30
Positive
Market Momentum
-31.49
Positive
46.53
Neutral
34.49
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:FINEORG, the sentiment is Neutral. The current price of 4297.45 is below the 20-day moving average (MA) of 5286.61, below the 50-day MA of 5211.91, and below the 200-day MA of 4780.30, indicating a neutral trend. The MACD of -31.49 indicates Positive momentum. The RSI at 46.53 is Neutral, neither overbought nor oversold. The STOCH value of 34.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:FINEORG.
Fine Organic Industries Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Neutral | ₹154.84B | 35.84 | ― | 0.22% | 7.26% | 5.73% | |
69 Neutral | ₹81.33B | 36.11 | ― | 0.63% | 5.11% | 20.64% | |
68 Neutral | ₹75.16B | 21.20 | ― | 1.04% | 27.05% | 16.13% | |
61 Neutral | ₹215.08B | 90.95 | ― | ― | 33.79% | 34.24% | |
56 Neutral | ₹57.16B | 27.90 | ― | 0.63% | 11.08% | 34.10% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | ₹42.47B | 33.72 | ― | 0.20% | 5.47% | 24.88% |
* General Sector Average
IN:FINEORG
Fine Organic Industries Ltd.
5,050.20
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14.08%
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Fine Organic Industries Ltd. Corporate Events
Fine Organic to Acquire 80% Stake in Malaysian Specialty Chemicals Firm
Sep 2, 2026
Fine Organic Industries Ltd. has executed share transfer agreements to acquire an 80% equity stake in Malaysia-based Oleofine Organics Sdn. Bhd., a specialty chemicals company with a turnover of RM 23.29 million in the year ended January 31, 2026....
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.