Fineotex Chemical Limited (NSE: FCL) Q3 2026 Earnings Call dated Feb. 16, 2026
Corporate Participants:
Aarti Jhunjhunwala — Head – International Marketing
Arindam Choudhuri — Chief Executive Officer
Sanjay Tibrewala — Chief Financial Officer
Analysts:
Unidentified Participant
Manu Kumar Singh — Analyst
Siddharth Lakhanwal — Analyst
Hemkesh Khattar — Analyst
Vinay N — Analyst
Prasad — Analyst
Vikrant Sahu — Analyst
Aniruddha Daga — Analyst
Presentation:
operator
Ladies and gentlemen, good day and welcome to Q3 and nine months FY26 earnings conference call of Finotex Chemical Ltd. As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing Star then zero on your touchpoint phone. Please note that this conference is being recorded. I now hand the conference over to Ms. Aarti Jhunjanwala from Finotex Chemicals Ltd. Thank you and over to you Ma’. Am.
Aarti Jhunjhunwala — Head – International Marketing
Good afternoon everyone. It is always a pleasure to connect with our investors, analysts and stakeholders. We deeply appreciate your time and continued trust in Finotex Chemical Limited. Finotex is not just a specialty chemicals company. We are a solutions driven organization built on innovation, customer centricity and sustainable value creation. Our integrated product range, strong global presence and deep industry relationships position us to cater to the evolving needs of a wide spectrum of industries. During this quarter we continue to build on this foundation and achieve several important milestones. On 9th December 2025 we acquired controlling stake in Crude Chem Technology Group, a US based specialty chemical manufacturer of advanced chemical fluid additives and comprehensive oilfee chemical solutions for the global oil and gas sector.
This acquisition is fully aligned with our communicated growth plan and a long term strategy of expanding into technology driven specialty segments. With this acquisition we have added two new manufacturing plants increasing our overall capacity by approximately 80,000 metric tons per year. The group brings a cutting edge technical lab and an innovative product portfolio of more than specialty chemicals designed to optimize oil field and water treatment performance. It has a leading presence in the friction reducer market, continuously outperforming competitors in third party testing. This group’s in house specialties include product design and testing, manufacturing, last mile delivery and field engineering support enabling complete end to end solutions.
Most importantly, the acquired group shares the same ESG driven philosophy that forms a core pillar of Finotex’s long term vision, reinforcing our commitment to sustainability, compliance and responsible growth. The company has served several marquee global customers including NESR, Nexstar, Debon Energy and ExxonMobil amongst many others. Overall, this acquisition significantly strengthens our global positioning in oil and gas segment and enhances is our ability to deliver high performance customized solutions to international clients. It is also EPS accretive and expected to contribute meaningfully to both revenue growth and margin expansion going forward. On the industry front, during the quarter India signed multiple strategic trade agreements including those with the uk, the US and the European Union.
These agreements are strategically positive for Indian specialty chemical sector and create a significant long term advantage for us. Across the India US and the India UK trade forums, several common themes emerge. Tariff rationalization and improved market access for petroleum products, petrochemicals and specialty chemicals. Input technology transfer and financing support for modernizing oil and gas infrastructure with lower emission technologies and encouragement of partnerships in refining technology, clean fluids and transition energy initiatives. Also, from a market perspective, the North America opportunity is substantial. As India increases energy trade with the US and strengthens cooperation with the uk, activity across drilling, refining and midstream services is expected to rise.
This directly supports demand for oil field specialty chemicals including high performance additives and friction reducers. Aryandamji will now take us through the key developments during the quarter.
Arindam Choudhuri — Chief Executive Officer
Hello. Thank you Aartiji and very good afternoon everyone. We are expanding onto the trade deal and its effects on the textile sector is significantly strengthened India’s textile export competitiveness particularly under the UK and the EU frameworks. As you all know, zero duty access on majority of textiles and apparel export to both the UK and EU has been announced. Removal of earlier tariff ranging from 8 to 12% and in some cases up to 16% will significantly improving price competitiveness of Indian manufacturers. Textile Exports projected to grow 30 to 45% by 2, 030 in certain markets and categories potentially adding 1.1 to $1.2 billion annually in incremental exports.
Importantly, the processing and finishing stages consume the highest volume of specialty chemicals particularly in the weight processing and advanced finishing applications where we are the masters. There is also a structural shift underway such as export markets like EU increasing the demand eco friendly, low emission and high performance formulation. This drives a transition from commodity dyes to premium performance chemicals. As textile processors upgrade their formulation to meet stricter environmental and compliance standards, demand for value added specialty chemicals expected to rise. We are equipped with all round certification as you all know. Now I request Sanjay Ji to take us through the financial performance during this quarter.
Thank you.
Sanjay Tibrewala — Chief Financial Officer
Thank you Arindamji. Good afternoon everyone. I would like to start by highlighting to all that the quarter three financial year 26 our total revenue grew by 46% to 190 crores compared to the last year financial quarter three this performance reflects both strong underlining demand and the strategic expansion of our international businesses, our export share has increased significantly to 48% in quarter three financial year 26 from 25% last quarter, demonstrating our growing international presence and traction. Importantly, even post acquisition, the company maintains a strong healthy position of approximate 340 crores. This healthy cash balance enables us to remain debt free even during our ongoing expansion phases and provide sufficient financial flexibility to pursue additional inorganic growth opportunities as a plan as our long term strategic roadmap.
Additionally, during the quarter, the company has received approximately 35.68 crores pursuant to the conversion of 75% of the outstanding warrant. Out of this, the promoter exercised five lakh warrants amounting to aggregate consideration of approximately Rupees 17.3 crores. Reflecting continued promoter confidence in the company’s long term growth trajectory. Looking ahead, our long term growth trajectory remains robust with innovation continuing to be the key driver of our business. The ongoing integration is expected to generate meaningful operational and product leverage synergies over time, strengthening revenue visibilities and supporting sustained growth across global markets. With that, I now open the floor for questions.
Thank you. Over to you, Nirav.
Questions and Answers:
operator
Thank you very much. We will now begin with the question and answer session. Anyone who wishes to ask a question may press star and one on the Touchstone telephone. If you wish to remove yourself from the question queue, you may press star and 2. Participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles participants. You may press star and one to ask a question. First question is from the line of Manu Kumar Singh from MK Investments. Please go ahead.
Manu Kumar Singh
Hello. Yes, hello. Congratulations sir. Thank you very much, Mr. Manukumar. So this is what we want to see as STL going at this pace. Very, very Congratulations, sir. Thank you sir. Question is sir, is labor code impact included in the results or not? I’m sorry, could you repeat, sir? Labor code. New labor code that has been implemented. That impact have been including the results or not?
Arindam Choudhuri
No, that has not been yet included. But we’ll get into the more details about it and let you know about that. Okay? Okay. As such our labor cost is not much.
So it is not going to impact any greatly things. And already if it is, all these social welfare activities etc have been already been taken to the book since beginning.
Manu Kumar Singh
Okay? Okay. Okay, sir. Thank you sir. My second question, sir. No. Any update on order from Aqua Strike?
Arindam Choudhuri
Sir, last control you said now the summers have come. Any update you want to share, sir? Yeah, it is in the process. Definitely. It’s in the process we are getting very great, you know kind of interest coming up from the authorities. I think in a couple of very near.
We should be having some good news on that as well. Thank you.
operator
Thank you. Thank you. Manu Kumar. I’ll request to come back for a follow up question. Ladies and gentlemen, you may press star and one to ask a question. Next question is from the line of Aswa Kamal and visual investor. Please go ahead. Aswa Cameron, may I request an unmute your line and proceed with your question.
Unidentified Participant
Hello sir, can you hear me?
Arindam Choudhuri
Yes.
Unidentified Participant
It’S regarding my question after the acquisition of ccm what will be our new margin? And the second question is what is the like how much percentage of revenue is from the hygiene segment and oil and gas segment and individual. Can you give some guidance?
Arindam Choudhuri
Yeah. Regarding CCT Group, we had acquired it on the 9th of December. It’s in USA and there were at least almost 10 days holiday due to the Christmas and the New Year’s. So as There was only 15 days working going around which we could add it consolidated in the books. So as per the last records they are annual report annual sales has been more than $60 million.
It’s 65, $66 million broadly and there is a lot of expansion going on. There is a new plant also which be coming up that is soon there and we’re just in the initial stage of integration integrating the things and systems. And a lot of strategies have been brought to surface regarding the mix as I can see in the quarter three so as such 55% is textiles. Now 1515 is cleaning and hygiene and the remaining 30% is the specialty oil field. That’s the broad industry verticals which we are into.
Unidentified Participant
Thank you. Okay, sir, thank you. I will.
operator
Thank you. Next question is from the line of Siddharth Lakhanwal from Darsh Capital. Please go ahead.
Siddharth Lakhanwal
Hi, good afternoon Sanjay. Congratulations on a decent set of number. I have two questions broadly. Just like you explained. The verticals textile and then like home care and drilling. So on the textile side I believe the volumes are up. But sir, there’s been a trend of declining realizations. So what are those now and how do you expect them to progress going forward given the government push? Also on the textile side. So what do you see? What do you foresee in the near future that will be on the textile side?
Sanjay Tibrewala
I can answer this one first. I’ll take this one first. So actually in textiles what has happened? As you know the, you know India is largely depending and supplying to the USA markets and that’s also the reason that you know most of the textile Indian corporates, exporters let’s say from, I mean whoever is the listed companies, all of them have their dependency on USA which started in 1st on 1st the 1st of April that is the financial new year almost and it lasted till January, I mean just around the like two weeks back it has been, you know got back to the old ones in fact better than the old one.
So then the hit has come. Everyone had a decline in their businesses and so did we also however because our product range has been growing, our teams have been growing and we have been getting more and more traction from various number of new customers also. So we were not having that much decline in our businesses in textiles so and also there was some pricing pressure in the last quarter because this call is about the last quarter till then the impact was totally felt in the by the Indian textile companies. So that is what we have also experienced and yeah, so also you could say so that the H1 was not greatly great enough because of this kind of situations which we have faced globally.
So going forward now India has good relay, not good relation.
operator
Sorry to interrupt you, we lost your audio. Sanjay sir, can you hear us? Ladies and gentlemen please stay connected while we rejoice and just go back to the call. Ladies and gentlemen, thank you for your patience. We have line for Sanjay connected.
Sanjay Tibrewala
Sorry the line got cut so I’ll just you know repeat the last few sentences. So so like right now our customers are getting great order books going forward and they have told us to gear up for the new supplies and things like that. So wave power is going to be much, much better than the H1 and that’s what we’re expecting.
Siddharth Lakhanwal
Yes sir, I’m sir in the home care side as you mentioned and we faced pressures there as well in the initial quarters, first two quarters and since basically the last two quarters of the previous financial year. So current levels we seem to be stabilizing on these levels. So how do you see this vertical of yours going forward as well given that realizations also moderated to quite a quite an extent and now they seem to be stabilizing. So on the volume front sir, what do you expect?
Sanjay Tibrewala
Oh yeah, basically. So the quarter three was much better than quarter one and two in the premium hygiene segment also. So we believe that there were, you know all the low demand. Everything is behind us now and way forward. We are looking forward for great opportunities coming up and there are a lot many more products that come. We have added on more sales team, more Distribution channels. We are cracking a lot many bigger accounts now. So there is a lot of action going on right now. And this is, this is one of those months where basically the cleaning operations generally happen more just before the summers and the summers.
So now this is the period where this business picks up more because it’s too much. The temperature rises in India and then there is a more cleaning going on with the consumers. Yeah, understood.
Siddharth Lakhanwal
Okay. And sir, in the drilling chemicals and other segment that you have, we’ve seen a significant uptick in volume now and also with your acquisition of cct. So given this volume trend you see even higher volumes from the drilling chemicals and the specialty chemical side. Also, what will be the margin profile? Because I believe that CCJ acquisition was at a 7, 8% kind of EBITDA level. So when can we see margin going up in the near future. If you could please give some timeline or what are your plans here?
Sanjay Tibrewala
Okay, so what, you know what I would like to mention here is it’s not CCT is not into only drilling and other stuffs. It’s totally into providing systems and packages which are like solutions for these companies and taking into the various functions in the oil specialty field. So that’s one. Yes, it will be growing more and more rapidly. And like now I like I was mentioning that, you know, this has been consolidated from the 9th of December only and that also it had a Christmas holidays and New Year and in US it’s you know, it’s almost like closing, everything is closing down from let’s say 28th of December.
So yeah, those things factored in is also there in the books going forward. It’s super exciting right now for us number one. Number two, as we have also invested in the company, 30% of the proceeds has been given, you know, introduced in the company and that has helped to reduce the purchases. The negotiations, the purchase negotiations. If you can also go through one of our, you know, the TV channel interviews, maybe that is also something which will enlighten you about what are things going on there. Plus we had a con call also on this topic separately in the month of December, first or second week.
So if you want more insights about that, you know that would be a right reference. But yeah, this is what I can. We are doubly sure that so integration is going on, margins are going to, it’s already started improving and of course it takes a little bit time. We have been spending a lot of time in US I mean there is a lot of action going on. So yes, going forward we are hopeful that you know the this next coming financial year would be excellent than what has been done in the past.
operator
Thank you. I’ll request to come back for a follow up question. Parsa, GMA Press Star and one to ask a question. Next question is from the line of Mkesh Katar from Green Portfolio. Please go ahead.
Hemkesh Khattar
Yeah sir, thank you for taking my question. My first question is regarding the textile segment. So in FY25 we saw an uptick in the volumes of textile chemical sales and we also added new customers. But there was a decline in the hygiene segment which resulted in a meager growth in our overall revenue. Now that we have completed the deals, the deals with the Europe and UK and US what is the size like? Are you seeing you started witnessing uptick in order book or what is the quantum of growth that you are expecting coming from these deals?
Sanjay Tibrewala
So actually in textiles, let’s put it like the US is one of the biggest markets for Indian textile companies and from first week of Feb there was an announcement it seems that yes the imports have been started getting cleared off at the lower tariffs. If not maybe this month would be the, you know where all the, you know the, you know the resolutions and the import tariffs and everything is going to get back to the normal old ones or better than that. So going forward, yes already the orders which are being there in the customers, they have doubled by now.
There is a lot of traction which we are seeing. The demand is increasing so way forward we are very confident that it will be much better than the year financial year 25 also there’s no doubt about it. So we are just making sure and we are just waiting for things to shape up more. So I think in a couple of months we’ll be having the exact understanding where we have reached and where the trend is going to. So trend is definitely going to improve, there is no doubt about it. If that’s your question, this is the answer.
But how, how much we can, you know capitalize on it is something which we are working upon as we saw.
Hemkesh Khattar
In the industry as well that both earthen wellspun other companies were also doing a lot of CAPEX in FY24 and FY25 towards improving their capacities. So there must be some like an uptick that they are also expecting in orders and you know that will trickle down to our order book as well if I’m correct.
Sanjay Tibrewala
Right, of course, yeah. Like I said the order books for them have already started increasing in the last 10 days. There’s no doubt about it. So rather than some of the companies again talking of expansions for the coming next two years. So that’s also very positive update. And yeah, so yeah we are just. It’s not even two weeks and in two weeks you know a lot of things has to slow down to the ground realities where the they expect to be seen. So yeah, that’s, that’s something I think we need to wait a couple of weeks or months time to understand where is it exactly going forward to.
But textile is definitely going to boom compared to what it has faced in the last three quarters.
Hemkesh Khattar
Okay, that’s very helpful sir. And second question regarding our latest acquisition. So as our understanding is that the FY25 revenue was around 60, 65 million dollars. And during the acquisition also and in the latest investor presentation also Finite X has you know reiterated the guidance of achieving $200 million of revenue by 2030. That is around let’s say 1800 crores in India. Right. And our current revenue stands at around 590 crores as of TTF. So is the management still confident of achieving this kind of growth where we are growing 3x in next year?
Sanjay Tibrewala
I mean. Yeah, it’s not too, too older statement what we have made. And I think yeah, why not? I mean that’s what is looking evident actually. And this is the right time. So now everything is shaping up very well I think definitely the, the world, the. The. The worst is behind us. Textile is getting back very swiftly and similar for the oil and gas. Yeah. So we have this group came. There is a lot of more actions going on there for new expansions and a lot of more strategic tie ups also going in. So we are really working very closely on all those developments.
Hemkesh Khattar
So what is going to be this like increasing your oil chemical business also from like 3x from 65 million to 200 millions. So what is the strategy that management is employing? It’s. It’s the increasing supply to current clients only or expanding it to Indian markets as well the product.
Sanjay Tibrewala
So generally what happens in oil field chemicals there is a lot of investments which is required in terms of capital. And now we are there, we have the capital cash on books as we have told them. So we are gauging and capturing every capitalizing every opportunity which we get. We are working with the biggest companies of the world. Those who are like let’s say from half a trillion dollar business to let’s say $30 billion businesses. So I mean these are the companies, they have huge amount of opportunities. They need companies like us aggregators and they need companies like US who can develop the package for them, work for them, work together.
There’s a lot of new drillings coming up in various countries and I mean a lot of exploration coming up in various countries. And so they need partners. There we are ready. I mean there is a lot of things. It’s not possible for us to explain these things on the call. But yeah, apparently there has to be a lot of things happening. It’s not one thing. It has to be a package of things. It has to be more product information, we are adding more on, more team members, more geographies and more capital, more investments, everything. So then only you can have these kinds of target set.
So it’s not one factor, it’s accumulation of all the factors because of which we are confident.
operator
Thank you. In case I’ll request to come back for a follow up question. Next question is from the nine of Vinay N from Hathway Investments. Please go ahead.
Sanjay Tibrewala
Hello. Hello Vinay.
Vinay N
Yeah, good numbers this quarter. Just wanted two bookkeeping questions and one question on how your Q3FY25 numbers and Q3FY26 numbers are shaping up. If I see Q3FY25, your total number of figure of sale was 125 crores and you said 76%.
Sanjay Tibrewala
Can you, can you repeat the last sentence? You said the Q3 financial year 25 was 125.92 crores.
Vinay N
Correct. The sales revenue from operations rather. And in that 76% domestic and 24% international that translates to around 96 odd crores for domestic and around 30 crores for international. If I see the Same numbers in FY26 it comes to 95.58 crores of domestic and around 88 crores of export. So has the domestic really not grown at all year on year?
Sanjay Tibrewala
Yeah, definitely. Domestic has not grown because the companies whom we are working for are already depending on the US markets. And not only us. I mean anyone in Texas will definitely have, you know, businesses in US and US is not, has not done at all. Well you can see, you know the, our main major customers like Himat Singh. I mean these are the companies, you know, Gokulda. So these are the companies which have not been doing, you know, meeting their expected growth at all.
Vinay N
So the drop in textile was compensated by increase in other sectors. Is it during this period or because there’s no drop Q3 to Q3?
Sanjay Tibrewala
I would say there is not a substantial drop at all. Now why there was no substantial drop is because we added more customers, more products. We became A little bit aggressive in the pricing average. Licensing prices has also gone down in some product line. So we were trying to, let’s put it like, you know, manage the, the tactile entire division on that lines up to December. And yes, as rightly said, yes, the drilling came at a time where you know, we could have this thing also together with our group. And so that, that’s also the reason why you can see that the domestic is almost new.
The growth is same for domestic but exports has gone up because of the UX factor also. Yeah.
Vinay N
Now in exports from 30 to 88 how much is contributed by Malaysia and how much is this includes exports from India or export from India is a part of domestic business.
Sanjay Tibrewala
So rather I’ll come to your, you know, to make it more simpler for you or maybe where the question is going towards I can say that, you know almost 50 crores of this is contributed by US crude chem. Okay.
Vinay N
Okay.
Sanjay Tibrewala
Yeah, so I think then you can do your math about it.
Vinay N
Yeah, yeah, yeah, that I’ll do. Perfect. And now my second part was on ion consumption. If I really see there’s a huge growth in the, the raw material consumed part which has really dropped your gross margins this time. Any particular reason there?
Sanjay Tibrewala
So, so as I have been. So what has also happened is I would, I wouldn’t say it’s a, you know, if you see the nine months. Okay, so we are at let’s say 30, 36% gross margins now. Even in nine months we are 36%. Earlier it was 38%. But then there’s the, the true chem factor which has also come in. And so of course there can always be written recalibration of things and. Yeah, so that is one of the reasons why it has changed. Yeah. Okay. And also a little bit tragic pressures we got in India in the textiles because many companies we had to support them in the times of tariff which we are rolling back by the way. We have already written to our customers last week that we are rolling back the prices this discount which we are given to them as a supply chain partner and a collaborator which will be reversed in the, from first March or something like that.
Vinay N
Okay, fine, thanks a lot. I’ll join back in with you. Thank you. Thank you. Energy. Thank you.
operator
Thank you. Next question is from the line of Prasad from Kamayaka Wealth Management. Please go ahead.
Sanjay Tibrewala
So CCT Group. Prasad.
operator
Sorry to interrupt. Can you please speak through the handset?
Sanjay Tibrewala
Can you hear me now? Yes, yeah, much better. Mr. Prashad.
Prasad
Yeah. So sir, in CCT group, what kind of ROIC’s are we currently, you know, delivering and what kind of ROIC are we you know, Envisaging post achieving $200 million worth of targets that we have and researched.
Sanjay Tibrewala
So if you still, if you consider the entire quarter three ROIC is for the quarter three is almost 27. Broadly I am very sure CCT’s figures will be, ROIC will be. ROC will be much better than that because they have been working there was a, let’s put it in this way, they had a capital crunch and that’s why we are in that.
Plus at the same time they we had a lot of synergies cross selling product technologies which they understand the kind of capabilities Finotex has, the kind of ambition plans Finotex has. So that was one of the reasons we were able to take it up in that way. So now that the after our arrival the ROCs are going to be much better than where it is now.
Prasad
Okay, okay.
Sanjay Tibrewala
And we consolidated about 15 days worth of revenues for CCD Group in this quarter.
Prasad
Right.
Sanjay Tibrewala
I mean sometimes what happens it is 15 days but then you know, because there are some targets also on the, you know, for completing in the December broadly it was just, you know, a short, you know, bookkeeping thing. So that would not lead to any, you know, this thing. But yeah, this from this quarter you will see something which is really desirable.
Prasad
Okay. Okay, that’s it from outside.
Sanjay Tibrewala
Thanks. Thanks Mr. Prashant.
operator
Thank you. Next question is from the line of Vikrant Sahu from RK Advisory. Please go ahead.
Vikrant Sahu
Good afternoon sir. Thank you for the opportunity. Am I audible?
Sanjay Tibrewala
Yeah, Mr. Vikrant, please go ahead.
Vikrant Sahu
Yeah, I just had a couple of questions on the crude chem part of the business that we have acquired recently. This might be a repetition of what you have said but I just wanted to know that crude chem, the EBITDA for it is about 7% roughly. So I just wanted to know that how much did it contribute to Finotex’s revenue on an EBITDA level and what would be the margin that we’ll be looking at going forward.
Sanjay Tibrewala
So actually the EBITDA level percentage which you are talking about is historical and going forward it’s already getting much better than where it is now because of the, you know, the, you know, the capital introduction and other better pricings and you know, the negotiations with suppliers on contracts, etc. The way forward is going to be almost, I can say, you know, it has to be always double digits. So that’s the way I’m looking at things and so sorry, could you repeat your second part of the question?
Vikrant Sahu
How much did it contribute on a consolidated basis for us this quarter? I believe it has been consolidated.
Sanjay Tibrewala
Yeah, yeah it’s done. That’s what. Yeah, yeah as you said, you know, it’s a repetitive question but I’ll take it up. So it’s like 50 crores for the quarter three. Okay so so that’s the number broadly.
Vikrant Sahu
Right. So for about maybe 20, let’s say one month we have acquired got around 50 crores of revenue. So for the entire quarter if we see can we expect 150 crores or it is 150 or 50 crores for the entire quarter that we have taken in our books.
Sanjay Tibrewala
No, no, no, it has to be only from the date we, we transfer the shares. It’s like the 9th of December. So that’s the date. You cannot take it from October for sure.
Vikrant Sahu
But so basically next quarter we can expect anywhere around 150, 160 odd cross if my understanding is right.
Sanjay Tibrewala
Yeah, on those. Yeah, if you go by that math. Yes.
Vikrant Sahu
Got it. And secondly I just wanted to know that if you see the previous quarter we had about 340 crores of cash in hand and even this quarter we have about 350 odd crores cash in hand and we have done significant amount of spending in the previous quarter be the bonus or the dividend or the acquisition. So I just wanted to know where or how are we maintaining such a heavy cash in hand.
Sanjay Tibrewala
So I will also mention not only that if I talk to you about let’s say last two years. So there has been a good capex in the new Amanath facility where the company has invested almost so let’s say the new office and the new plant in Ambarnath which is the, you know, which we have done last one 18 months by now or something like this we have already deployed 120 crores broadly. And so yeah, that’s one thing I would like to mention at the same time. Yes, you know there is a good receivables. We are being very much more efficient enough in handling our businesses and operations and yeah, so there is have been increase in that and yeah, that’s all I can tell you about it.
So apart from that plus the acquisition which has been done, it’s already paid for and already so there was being some as I also mentioned in the beginning there was 35 crores odd which has been received from the investors including the promoters which is 17.3 which is in fact my myself and so yeah, 35 crores has come in during this period in the company in quarter three. So yeah broadly this is the where we are today.
Vikrant Sahu
Got it, Got it sir. And the final, final question I have from my end is that given the oil and gas moves that we are seeing recently in the western hemisphere of the world, I just wanted to know how much will our revenue grow from oil and gas? Because I believe we are at a very insignificant level at this point in time. We just wanted to moving forward how much are we expecting oil and gas to contribute and as a matter of fact other revenue streams for us as well be it chemicals or FMCG or textile.
So I just wanted to know what is the revenue split that we are looking for moving forward.
Sanjay Tibrewala
So you know, if we go by your question and take it up more ahead I can sort of. So basically if you say like, say by. You said like 150. So let’s say together I’m very sure in the next financial year we are going to be thousand crore plus companies in terms of businesses. So that’s given from your own derivations of the quarterly of the sales of CCT and things that. And that’s the normalized on the lowest side I can say because now oil and gas everything is going very well in US. More and more exploration activities is on.
Textiles is going to be very good from this, this period which is going on let’s say come next month for sure. And so even cleaning and hygiene, more and more products have been added, more team members, more big accounts have been started off. So that’s the way I can say so. And even if you do the math, I think oil and gas businesses should be around 45 to 50% of our total businesses. So I mean to answer that question, although we are a little bit earlier in getting into such kinds of, you know, under the viewpoint.
But yeah, this is for the numbers. Yeah, it is evident enough.
Vikrant Sahu
Got, Got it sir.
Sanjay Tibrewala
Thanks.
Vikrant Sahu
If, if I could squeeze in just one last question. I just wanted to know that what kind of spends that we are looking at for crude chemistry? Because I believe we have a goal or an aspiration to increase the capacity there as well. So just wanted to know in the coming few years, maybe next two to three years what kind of spends are we looking at in terms of expanding the facility as well as R and D for them.
Sanjay Tibrewala
So there is a lot of projects which we have already started working upon and in any way I can only tell you that, you know, apart from the current cash Flows which we have. And, and by the time we start deploying more capital in crude chem, definitely there will be more cash generated by the company for the existing businesses. So even if to, to say on the highest level it will not be above let’s say 70, 80 crores. So let’s say less than $10 million. Now that’s not a big number. I’m talking of two years time or one and a half years time.
So broadly I think this would be a good, good kind of value. But yeah, that’s all being done by Internet rules.
Vikrant Sahu
God. Got you. Got it.
Sanjay Tibrewala
By the way, I want to mention on this line, I want to mention food chem is a debt free company right now. So, so that’s also. I would just like to mention all participants about it. Yeah.
Vikrant Sahu
So I guess overall we do it into. Remain debt free in all aspects.
Sanjay Tibrewala
Perfect. Exactly right. So that’s always been the, you know, we have been always very disciplined and you know, deployment of our cash and so we look forward to be more and more efficient in our operations and going to the next level.
Vikrant Sahu
Definitely.
Sanjay Tibrewala
Thank you.
Vikrant Sahu
The balance sheet as well.
Sanjay Tibrewala
Yes. Thank you so much.
Vikrant Sahu
Okay, thank you. Thank you so much and I wish you all the best for the future.
Arindam Choudhuri
Thanks.
operator
Thank you. Next question is from the land of Aniruddha Daga from AV Securities. Please go ahead.
Aniruddha Daga
Hi Sanjay. Congratulations. My first question is on the line of the preferential conversion. So what is the amount of warrants that has been lapsed?
Sanjay Tibrewala
Okay, that’s the only question or you want to continue that?
Aniruddha Daga
No, I have one more. But since you like to answer one at a time.
Sanjay Tibrewala
So I thought so I think we have brought more than 70% of. No, sorry. So yeah, in the quarter three I can say yeah, almost 80% or yeah, 80% has been. Only 20% has been lapsed. Maybe. So yeah, that will be added to the reserves directly. It will not touch the P L If that is your accounting question.
Yeah, yeah, it was only the accounting question.
Aniruddha Daga
And sir, regarding CCT so 50 crores now is what has been added to the top line as you said. Now so assuming 50 crores and say 20 days, if we see. Just do the math it could be like 160, 170 crores on the quarter. But then CCT is doing 600 crores approximately on annual basis and we have a 53% state. How are we adding about the entire turnover?
Sanjay Tibrewala
I, I think for that you need to refer to the, the you know, the right professionals because that’s the. As per the accounting Standard this is the process.
It’s not our wish or anybody’s likings too. We have to just follow the, the system set by the, by the Institute of Chartered Accounts. So yeah so from my understanding is we are adding the entire ccd. It’s not about me, it’s not about us or it’s not a choice. It’s not oblique, it’s not a choice. It’s obligatory to do that. That’s the normal process. It’s not about. Yeah, that’s the normal way it works.
operator
Thank you. Request to come back for a follow up question. Next follow up question is from line of Hemkesh Qatar from Green Portfolio. Please go ahead.
Hemkesh Khattar
Hello sir again for taking my question. So my follow up question is regarding first of all the capex. So what is the capex that the company is expecting to incur in FY27 and 28?
Sanjay Tibrewala
Okay so yeah you mean overall right? For all overall, yes. Okay so you know recently as I did mention now also that recently we have started last year only we have started. Oh no, maybe in sorry this current financial only we have commissioned our new plant, Amanat plant which is one of the largest land parcels and the one of the best state of the art investment which we have done recently. So that is also taking care of our requirements organically there can be a little bit more requirement, let’s say 10, 20, 30, 40 crores, something like that.
It’s not going to be massively required right now on the organic front. So from the Capex point this is something which I can tell you going forward as the nine months was for the domestic demand was it was the muted demand, muted growth reason being like I said about the US and India. So let us see how it fares in a couple of months and then we can always be ready with our new plants and new projects once we are able to utilize the existing production capacities to an optimum level.
Hemkesh Khattar
Okay and and so follow up question to that. What is the current like I understand that we commissioned a new plant in August only but what is the current capacity utilization of the plant overall?
Sanjay Tibrewala
So if you talk about the overall capacity utilization of the entire company right now it is almost 64% and so that’s so basically you know we were able to I, I can say that you know we were able to increase some of the product lines and have a better so this quarter the, the volumes has gone up and in fact if you compare to the last year quarter there has been a last year, year on year basis quarter three there has been a almost 39% of increase in the volumes. So. So I think the volumes are getting better now.
We need to get more and more. Excuse me sir.
Hemkesh Khattar
This is 39 excluding the oil business or including.
Sanjay Tibrewala
No, everything is included now.
Hemkesh Khattar
Include. Okay.
Sanjay Tibrewala
You know the best way to understand the company now would be on the console basis because there is a lot of action going on in the foreign subsidies, things like that. So I think we’ll have to eventually get into the. The format of understanding it on the. On the totality.
Hemkesh Khattar
Understood. And so just one last question from my side that I understand that our like focus has moved more towards oil because of the recent acquisition and textiles because of the tailwinds that we are seeing in the industry. But is there any update on the water treatment chemicals? Like we had basically launched that product also but not seen an uptick in the revenue. So are you seeing any uptick moving forward in let’s say FY27 or maybe 28?
Sanjay Tibrewala
See I’ll tell you what is the model of Finotech. So what we do typically is like we do polymerization, easter sulfonation, phosphor nations and all the reactions with different monomers. So what our you know model is that we wherever these chemistries can have outlay and a vertical, we always try to focus on those businesses more and more. Now in oil also you have similar kind of product lines, you know the chemistry point of view. So that is the reason like oil, textile, water, some of them are having overlap technologies. And that makes us very easy because when we are expanding our capacities we have economies of scale and coming to the water treatment also.
Yes, that business is also getting better and better. There’s no doubt about it. There is a lot of interest coming in from many customers. We are also going to tie up with some big companies going forward who are the largest companies in water treatment in the world. So we were in Middle east also last week in Saudi, Kuwait and other countries. So there is a lot of things happening around in the water segment also.
Hemkesh Khattar
Can we expect a sizable revenue to come within next few years?
Sanjay Tibrewala
Yeah, definitely, why not? I mean there is action going on all the fronts but everything doesn’t need to happen on in one quarter. So every, you know there is a lot of action going on in some stages. Like, like you know, the drilling, I mean the drilling is going well. The oil specialty. We have already proven our, you know, with the new CCT coming in, this is what we have been promising our investors and we have delivered. So this is something which we are doing one by one and I think now the times have come this I think this is the best time.
I would also like to mention to you the by when we took this decision of acquiring the controlling stake in crude came we the relations with us and ties were not in the favor. Still we went ahead and we were sure that you know eventually things are going to shape up better. So that was the time and we took the right decisions and now we can see the getting much and much good tailwinds coming in in these sectors.
Hemkesh Khattar
Thank you. Thank you so much.
Sanjay Tibrewala
Thank you. Thank you Mr. Qatar.
operator
Thank you very much. We’ll take that as a last question. I’ll now hand the conference over to the management for closing comments. Sanjay sir would like to make any closing comments.
Sanjay Tibrewala
Okay so yeah, yeah. Thank you participants. Thanks for your continued interest. So finitex team is always available to answer and give you some more insights. I know a lot of questions must be still left out to be answered and the I can understand because there are so many things happening in various industries and also participants would like to know what’s going on in textiles, oil and gas. So we’ll try to be as helpful as we can in our informations. But yeah thank you so much for your continued support and trust in Finotex and yeah so that’s I just remain committed to creating long term value for all of you.
Thank you so much. What do you.
operator
Thank you very much on behalf of Finotex Chemical Ltd. That concludes this conference. Thank you for joining us and you may now disconnect your lines. Thank you. It.