Ashish Kacholia Portfolio Stock Hit Record High After Q3 Results; 60% Dividend Declared

In the speciality chemicals industry, Fineotex Chemical Ltd. is a small-cap company. It started on the BSE today at Rs. 410.45 per share and surged to reach a new 52-week high of Rs. 421 in the morning trade after the firm released its Q3 results for the quarter that ended on December 31, 2023.

According to the firm, revenue from operations climbed by 26.75% on a consolidated basis during the quarter, from Rs. 10,922.96 Lakhs in Q3FY23 to Rs. 13,845.18 Lakhs. Operational EBITDA grew by 41.34% during the quarter, from Rs. 2,855.03 Lakhs in Q3FY23 to Rs. 4,035.23 Lakhs in Q3FY24. The profit after tax (PAT) for the quarter under review grew by 46.49% to -Rs. 3,292.51 Lakhs from -Rs. 2,247.55 Lakhs in the year-ago quarter.

The Board of Directors "Declared an Interim Dividend of 60% i.e; Rs. 1.20/-per equity share (face value Rs 2 each) aggregating to Rs.13.29 Crores. The record date will be February 26,2024 and the dividend will be paid on or before March 12,2024," said Fineotex Chemical in a stock exchange filing.

According to the firm, its consolidated operational EBITDA climbed by 37.81% over the course of nine months, from Rs. 7,988.53 Lakhs to Rs. 11,009.13 Lakhs. For the nine months that ended in FY 2023-2024, the profit after tax (PAT) climbed by 42.47% to Rs. 9054.94 lakhs from -Rs. 6,355.49 lakhs in the same period last year. For nine months in FY24, the consolidated Return on Equity (ROE) was 30.43 per cent, and the consolidated Return on Capital Employed (ROCE) was 35.18 %.

During Q3FY24, renowned investor Ashish Kacholia held 31,35,568 equity shares of Fineotex Chemical in his portfolio which is 2.83% of the total paid-up share capital of the company.