Fine Organic Industries Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 2:59 am

Market Cap	14,630 Cr.
Current Price	4,772
High / Low	5,959/4,005
Stock P/E	33.3
Book Value	691
Dividend Yield	0.21 %
ROCE	31.3 %
ROE	23.8 %
Face Value	5.00
PEG Ratio	1.16

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for

Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Gujchem Distillers India Ltd	143 Cr.	400	541/61.8	375	390	0.00 %	1.38 %	2.17 %	1.00
Elantas Beck India Ltd	10,647 Cr.	13,430	14,980/7,601	72.5	1,018	0.04 %	27.7 %	20.6 %	10.0
Crestchem Ltd	78.1 Cr.	260	350/70.0	24.6	21.1	0.19 %	78.2 %	56.2 %	10.0
Chemiesynth (Vapi) Ltd	11.0 Cr.	35.8	34.1/0.00		37.5	0.00 %	1.00 %	3.38 %	10.0
Archit Organosys Ltd	88.5 Cr.	43.1	63.6/35.1	123	32.2	0.00 %	3.69 %	0.75 %	10.0
Industry Average	6,099.33 Cr	2,055.97		77.89	317.66	0.25%	16.28%	12.32%	7.41

All Competitor Stocks of

Quarterly Result

Month	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Sales	358	438	463	617	748	919	760	597	547	540	488	547	550
Expenses	306	366	384	457	533	665	600	395	407	410	371	403	410
Operating Profit	51	73	80	159	214	254	159	202	140	130	117	143	139
OPM %	14%	17%	17%	26%	29%	28%	21%	34%	26%	24%	24%	26%	25%
Other Income	6	6	7	14	17	19	15	13	14	17	17	22	24
Interest	1	1	1	1	1	1	1	1	1	1	1	1	1
Depreciation	10	10	10	11	11	12	12	13	12	14	15	15	12
Profit before tax	47	68	75	162	219	260	161	201	143	132	119	150	151
Tax %	23%	27%	31%	25%	27%	22%	34%	26%	30%	22%	21%	24%	25%
Net Profit	36	50	52	122	160	203	106	149	100	103	94	115	113
EPS in Rs	11.71	16.27	16.95	39.74	52.12	66.09	34.65	48.74	32.54	33.71	30.73	37.36	36.94

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: October 26, 2024, 2:31 pm

Month	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	660	778	856	1,060	1,038	1,133	1,876	3,023	2,123	2,125
Expenses	514	633	697	827	803	935	1,513	2,194	1,592	1,595
Operating Profit	146	145	158	234	235	198	363	829	531	530
OPM %	22%	19%	19%	22%	23%	17%	19%	27%	25%	25%
Other Income	8	4	16	20	20	17	33	64	71	81
Interest	7	4	3	2	5	6	5	5	2	2
Depreciation	30	24	20	17	35	47	40	48	56	56
Profit before tax	117	121	151	234	216	162	352	841	544	553
Tax %	35%	36%	37%	40%	24%	26%	26%	26%	24%
Net Profit	76	78	95	136	165	120	260	618	412	425
EPS in Rs	157.74	161.22	31.09	44.43	53.74	39.24	84.67	201.60	134.34	138.74
Dividend Payout %	29%	9%	23%	16%	13%	28%	11%	4%	7%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	2.63%	21.79%	43.16%	21.32%	-27.27%	116.67%	137.69%	-33.33%
Change in YoY Net Profit Growth (%)	0.00%	19.16%	21.36%	-21.83%	-48.60%	143.94%	21.03%	-171.03%

has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 8 years from 2016-2017 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	%
5 Years:	15%
3 Years:	23%
TTM:	-11%

Compounded Profit Growth
10 Years:	%
5 Years:	25%
3 Years:	51%
TTM:	-4%

Stock Price CAGR
10 Years:	%
5 Years:	20%
3 Years:	8%
1 Year:	4%

Return on Equity
10 Years:	%
5 Years:	31%
3 Years:	34%
Last Year:	24%

Last Updated: Unknown

Balance Sheet

Last Updated: November 15, 2024, 1:49 am

Month	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	5	5	15	15	15	15	15	15	15	15
Reserves	249	323	380	485	604	716	944	1,526	1,906	2,105
Borrowings	102	40	54	128	125	89	59	29	4	4
Other Liabilities	63	76	81	74	108	127	219	237	182	224
Total Liabilities	419	445	530	702	852	948	1,236	1,807	2,108	2,347
Fixed Assets	125	97	88	78	217	196	229	214	233	223
CWIP	6	3	32	106	6	26	14	40	30	28
Investments	0	11	11	10	33	31	31	39	36	35
Other Assets	289	334	399	508	597	694	962	1,513	1,809	2,060
Total Assets	419	445	530	702	852	948	1,236	1,807	2,108	2,347

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	45	65	98	219	134	67	485	635
Cash from Investing Activity +	-16	-52	-93	-85	-40	-32	-128	-396
Cash from Financing Activity +	-55	-17	92	-37	-41	-68	-69	-59
Net Cash Flow	-26	-3	97	98	53	-33	289	180

Free Cash Flow

Month	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	44.00	105.00	104.00	106.00	110.00	109.00	304.00	800.00	527.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	49	52	62	54	47	52	59	42	54
Inventory Days	72	68	58	50	79	63	72	91	78
Days Payable	50	47	46	30	51	49	47	36	41
Cash Conversion Cycle	71	72	75	74	74	66	84	97	91
Working Capital Days	80	88	102	83	63	75	85	80	78
ROCE %		35%	38%	44%	32%	22%	39%	65%	31%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%
FIIs	7.26%	7.25%	7.20%	6.74%	5.91%	4.84%	3.78%	3.78%	3.58%	4.47%	4.94%	4.88%
DIIs	11.21%	11.64%	10.94%	10.92%	11.51%	12.09%	12.24%	12.17%	11.84%	10.76%	11.12%	11.56%
Public	6.53%	6.11%	6.86%	7.33%	7.58%	8.07%	8.99%	9.05%	9.58%	9.77%	8.92%	8.56%
No. of Shareholders	56,185	61,413	81,333	96,367	1,10,677	1,16,910	1,34,261	1,35,252	1,41,370	1,46,686	1,31,494	1,22,482

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Nippon India Small Cap Fund	752,764	0.71	326.08	752,764	2024-12-20	0%
Axis Small Cap Fund	713,350	1.58	309.01	752,764	2024-12-20	-5.24%
SBI Small Cap Fund	700,000	1.19	303.22	752,764	2024-12-20	-7.01%
Axis Midcap Fund	307,724	0.53	133.3	752,764	2024-12-20	-59.12%
Axis Flexi Cap Fund	304,168	1.15	131.76	752,764	2024-12-20	-59.59%
Canara Robeco Small Cap Fund	77,057	0.35	33.38	752,764	2024-12-20	-89.76%
Axis Multicap Fund	61,298	0.53	26.55	752,764	2024-12-20	-91.86%
UTI Small Cap Fund	46,684	0.55	20.22	752,764	2024-12-20	-93.8%
Bandhan Flexi Cap Fund	45,171	0.29	19.57	752,764	2024-12-20	-94%
Axis Equity Hybrid Fund	37,134	1.01	16.09	752,764	2024-12-20	-95.07%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	5.00	5.00	5.00	5.00	5.00
Basic EPS (Rs.)	134.34	201.60	84.71	39.25	53.75
Diluted EPS (Rs.)	134.34	201.60	84.71	39.25	53.75
Cash EPS (Rs.)	153.52	217.80	98.06	54.93	66.70
Book Value[Excl.RevalReserv]/Share (Rs.)	626.57	502.69	312.85	238.57	201.87
Book Value[Incl.RevalReserv]/Share (Rs.)	626.57	502.69	312.85	238.57	201.87
Revenue From Operations / Share (Rs.)	692.42	986.00	611.96	369.61	338.58
PBDIT / Share (Rs.)	197.62	291.99	129.67	70.56	85.02
PBIT / Share (Rs.)	179.31	276.37	116.66	55.31	73.71
PBT / Share (Rs.)	178.33	274.88	114.99	53.31	72.14
Net Profit / Share (Rs.)	135.20	202.18	85.04	39.68	55.40
NP After MI And SOA / Share (Rs.)	134.34	201.60	84.67	39.24	53.74
PBDIT Margin (%)	28.54	29.61	21.18	19.09	25.10
PBIT Margin (%)	25.89	28.02	19.06	14.96	21.77
PBT Margin (%)	25.75	27.87	18.79	14.42	21.30
Net Profit Margin (%)	19.52	20.50	13.89	10.73	16.36
NP After MI And SOA Margin (%)	19.40	20.44	13.83	10.61	15.87
Return on Networth / Equity (%)	21.44	40.10	27.06	16.45	26.62
Return on Capital Employeed (%)	28.58	54.94	36.30	21.39	31.47
Return On Assets (%)	19.54	34.21	20.99	12.70	19.33
Long Term Debt / Equity (X)	0.00	0.00	0.02	0.07	0.14
Total Debt / Equity (X)	0.00	0.01	0.06	0.07	0.14
Asset Turnover Ratio (%)	1.08	2.01	1.71	1.24	1.31
Current Ratio (X)	9.13	5.37	3.53	4.01	3.91
Quick Ratio (X)	7.71	3.68	2.60	3.20	2.93
Inventory Turnover Ratio (X)	3.07	7.20	7.44	5.95	6.09
Dividend Payout Ratio (NP) (%)	6.69	4.46	12.99	7.64	20.46
Dividend Payout Ratio (CP) (%)	5.89	4.14	11.26	5.50	16.91
Earning Retention Ratio (%)	93.31	95.54	87.01	92.36	79.54
Cash Earning Retention Ratio (%)	94.11	95.86	88.74	94.50	83.09
Interest Coverage Ratio (X)	249.04	195.73	77.82	35.30	54.07
Interest Coverage Ratio (Post Tax) (X)	171.61	136.52	52.03	20.84	36.23
Enterprise Value (Cr.)	11309.92	12708.88	12135.04	6792.44	5712.02
EV / Net Operating Revenue (X)	5.33	4.20	6.47	5.99	5.50
EV / EBITDA (X)	18.67	14.20	30.52	31.40	21.91
MarketCap / Net Operating Revenue (X)	5.82	4.37	6.56	6.18	5.62
Retention Ratios (%)	93.30	95.53	87.00	92.35	79.53
Price / BV (X)	6.43	8.57	12.83	9.57	9.42
Price / Net Operating Revenue (X)	5.82	4.37	6.56	6.18	5.62
EarningsYield	0.03	0.04	0.02	0.01	0.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 5,487.95

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of December 22, 2024, is Undervalued by 15.00% compared to the current share price 4,772.00

Intrinsic Value of as of December 22, 2024 is: 7,064.88

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 22, 2024, is Undervalued by 48.05% compared to the current share price 4,772.00

Last 5 Year EPS CAGR: 28.73%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 34.00%, which is a positive sign. The company has higher reserves (923.80 cr) compared to borrowings (63.40 cr), indicating strong financial stability. The company has shown consistent growth in sales (230.50 cr) and profit (329.10 cr) over the years.	The stock has a high average Working Capital Days of 81.56, which may not be favorable. The stock has a high average Cash Conversion Cycle of 78.22, which may not be favorable.

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in :
1. Net Profit Margin: 19.52%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 28.58% (Industry Average ROCE: 16.28%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 21.44% (Industry Average ROE: 12.32%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 171.61
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 7.71
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 33.3 (Industry average Stock P/E: 77.89)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Fine Organic Industries Ltd. is a Public Limited Listed company incorporated on 24/05/2002 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L24119MH2002PLC136003 and registration number is 136003. Currently Company is involved in the business activities of Manufacture of organic and inorganic chemical compounds. Company’s Total Operating Revenue is Rs. 1858.43 Cr. and Equity Capital is Rs. 15.33 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Chemicals - Organic - Others	Fine House, Anandji Street, Mumbai Maharashtra 400077	investors@fineorganics.com http://www.fineorganics.com

Management
Name	Position Held
Mr. Mukesh Shah	Chairman & Wholetime Director
Mr. Jayen Shah	Managing Director
Mr. Tushar Shah	WholeTime Director & CEO
Mr. Bimal Shah	Executive Director
Mr. Nikhil Kamat	Executive Director
Mr. Kaushik Shah	Independent Director
Mr. Mahesh Sarda	Independent Director
Mr. Thiruvengadam Parthasarathi	Independent Director
Ms. Pratima Umarji	Independent Director
Mr. Prakash Apte	Independent Director
Ms. Rashi Mehta	Independent Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 21 December 2024 is ₹5487.95, which is 15.00% higher than the current market price of ₹4,772.00. The stock has a market capitalization of 14,630 Cr. and recorded a high/low of 5,959/4,005 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹2,105 Cr and total liabilities of ₹2,347 Cr.

What is the Market Cap of ?

The Market Cap of is 14,630 Cr..

What is the current Stock Price of as on 21 December 2024?

The current stock price of as on 21 December 2024 is 4,772.

What is the High / Low of stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of stocks is 5,959/4,005.

What is the Stock P/E of ?

The Stock P/E of is 33.3.

What is the Book Value of ?

The Book Value of is 691.

What is the Dividend Yield of ?

The Dividend Yield of is 0.21 %.

What is the ROCE of ?

The ROCE of is 31.3 %.

What is the ROE of ?

The ROE of is 23.8 %.

What is the Face Value of ?

The Face Value of is 5.00.