Fineotex Chemical Q3 Result 2024: Date and Time, Share Price and Target

News: Fineotex Chemical Limited, a prominent player in the chemical industry, recently released its Q3 2024 results. In this article, we’ll delve into the key highlights, including the date and time of the announcement, share price movements, and future targets.

Q3 2024 Results Highlights

Here’s a snapshot of Fineotex Chemical’s performance during the third quarter of 2024:

1. Revenue Growth: The company witnessed a robust 26.76% increase in revenue, reaching ₹138.4 crore. This growth reflects the company’s resilience and adaptability in a dynamic market.
2. Profit Surge: Fineotex Chemical’s net profit soared by an impressive 46.5% year-on-year, amounting to ₹32.9 crore. This substantial profit jump underscores the company’s operational efficiency and strategic decisions.
3. Ebitda Expansion: The Ebitda (Earnings Before Interest, Taxes, Depreciation, and Amortization) surged by 41.43%, reaching ₹40.3 crore. A healthy Ebitda signifies effective cost management and operational excellence.
4. Margin Improvement: The company’s operating margin expanded by 302 basis points (bps), settling at 29.14%. This improvement indicates better utilization of resources and increased profitability.

Dividend Announcement

The board of directors of Fineotex Chemical made two significant announcements:

1. Interim Dividend: The chemical company declared an interim dividend of ₹1.20 per share for eligible shareholders. This move reflects the company’s commitment to rewarding its investors.
2. Record Date: The record date for the interim dividend has been fixed as 12th March 2024. Shareholders eligible on this date will receive the dividend.

Share Price Movement

Following the positive Q3 results, Fineotex Chemical’s shares hit a lifetime high. Investors responded favorably to the company’s strong financial performance, driving the share price upward.

Future Targets

As Fineotex Chemical continues its growth trajectory, investors and stakeholders eagerly await the company’s future targets. Whether it’s expanding product lines, venturing into new markets, or enhancing operational efficiency, Fineotex Chemical’s strategic moves will be closely watched.

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About Fineotex Chemical Limited :

Fineotex Chemical Limited is a multinational company that specializes in producing textile chemicals and auxiliaries. Here are some key details about Fineotex Chemical:

Background and History:

• Fineotex Chemical Group was established in 1979 by Mr. Surendra Tibrewala.
• The company manufactures and provides a comprehensive range of specialty chemicals for various textile processes, including pretreatment, dyeing, printing, and finishing.
• Fineotex Chemical Limited (FCL) was incorporated as a public limited company in 2007.
• It got listed on the Bombay Stock Exchange (BSE) in March 2011 and on the National Stock Exchange (NSE) in January 2015.

Product Range:

• Fineotex Chemical produces chemicals for textiles, construction, water treatment, fertilizer, leather, and paint industries.
• Their offerings cover the entire spectrum of textile processing needs, catering to customers across the globe.

International Collaborations:

• Fineotex has formed strategic collaborations with other companies:
• Fineotex & Biotex Malaysia: Synergy of technological research and expertise.
• Fineotex & HealthGuard Australia: Joint venture for specialized products.
• Fineotex & Eurodye – ctc Belgium: Bringing Belgium’s specialty chemicals to India.

Recent Achievements:

• Business Growth and Strategy Excellence Award: Received this prestigious award at an exclusive CXO’s roundtable.
• Great Place to Work Certified: Recognized as a great workplace.
• Hurun Industry Achievement Award: Chairman & Managing Director, Surendrakumar Tibrewala, honored.
• Business Excellence Award: Acknowledged under the category ‘SME – Chemicals & Pharmaceuticals’.
• ECO PASSPORT Certification: Certified by the OEKO-TEX®️ from the Hohenstein Institute, Germany.

Financial Performance:

• Fineotex Chemical’s Q3 2024 results showcased impressive growth in revenue, profit, and operating margin.
• The company’s shares reached a lifetime high following the positive results.

Fineotex Chemical’s Q3 2024 results demonstrate resilience, profitability, and investor confidence. As the company navigates the evolving business landscape, it remains poised for further success.

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