Ashish Kacholia Invested Stock Declares Stellar Q2 Results; Check Financials

Financial figures for the quarter and a half that ended on September 30, 2024, have been released by Fineotex Chemical. According to the firm, its standalone revenue from operations for the quarter climbed to Rs. 11,536 Lakhs from Rs. 10,661 Lakhs in Q1FY25, representing an 8.21% QoQ rise. From Rs. 2,185 Lakhs in Q1FY25 to Rs. 3,145 Lakhs in Q2FY25, the standalone profit after tax (PAT) grew by 43.94 per cent QoQ. From about Rs. 2,618 Lakhs in the June 2024 quarter to approximately Rs. 2,971 Lakhs in the September 2024 quarter, the operational EBITDA grew by 13.48%.

Net revenue for the first half of FY25 grew by 15.29% to approximately Rs. 22,197 Lakhs from approximately Rs. 19,253 Lakhs in H1FY24. The profit after tax (PAT) grew by 6.60 per cent, from approximately Rs. 5,000 Lakhs in H1-FY24 to about Rs. 5,330 Lakhs in H1-FY25. Operational EBITDA grew by 11.29 per cent from approximately Rs. 5,022 lakhs in H1-FY24 to approximately Rs. 5,589 lakhs in H1-FY25.

The firm said that, on a consolidated basis, its revenue from operations for the quarter climbed by 2.70 per cent, from approximately Rs. 14,190 Lakhs in Q2FY24 to approximately Rs. 14,573 Lakhs in Q2FY25. The profit after tax (PAT) grew by 9.90% from approximately Rs. 2,918 Lakhs in Q2FY24 to approximately Rs. 3,207 Lakhs in Q2FY25.

Through the preferential allocation of equity shares and convertible warrants at a price of Rs. 387.40/-, the company successfully raised Rs. 218.11 Crores during the September 2024 quarter, for a total fund raise of Rs. 342.55/- Crores during this fiscal year up to September 30, 2024. The allocation of 25,052 equity shares in accordance with the execution of vested employee stock options under the Fineotex Chemical Limited-Employee Stock Option Plan 2020 ("FCL-ESOP 2020") was also approved by the Nomination and Remuneration Committee at its meeting on November 13, 2024. 110 employees have been given an ESOP by the corporation till September 30, 2024.

Ashish Kacholia, a prominent investor, likes Fineotex Chemical Limited, one of the stocks of his portfolio. The rating agency ICRA upgraded the chemical manufacturer's credit rating, indicating that its long-term financial stability is expected to improve. Ashish Kacholia is a shareholder of 3,135,568 shares in the company, which are worth 2.74% stake. ICRA's rating committee changed Fineotex Chemical's long-term credit outlook from "Stable" to "Positive," the firm said in a filing.

With operations in almost 70 countries, Fineotex Chemical manufactures over 450 speciality chemicals and enzymes for the agrochemical, water treatment, adhesive, textile, apparel, construction, and leather industries. It is a leading manufacturer of specialised and textile performance chemicals.