Fineotex Chemical Limited (NSE: FCL) Q4 2025 Earnings Call dated May. 21, 2025
Corporate Participants:
Unidentified Speaker
Aarti Jhunjhunwala — Executive Director
Arindam Choudhuri — Chief Executive Officer
Sanjay Tibrewala — Chief Financial Officer and Executive Director
Analysts:
Unidentified Participant
Suraj Kaitan — Analyst
Kautuk Yemde — Analyst
Ajay Kumar — Analyst
Devendra Kumar — Analyst
Rohit Hori — Analyst
Rusha — Analyst
Anirudh Daga — Analyst
Bhavind Soni — Analyst
Ganesh Nagar Shekhar — Analyst
Presentation:
operator
Ladies and gentlemen, the conference of Fineotex Chemical Limited will begin shortly. Please stay connected. Ladies and gentlemen, the conference of Fineotex Chemical Ltd. Will begin shortly. Please stay connected. Thank you. Ladies and gentlemen, good day and welcome to the Q4 and FY25 conference call of Fineotex Chemical Ltd. As a reminder, all participant lines will remain 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 the conference call, please signal the operator by pressing Star then zero on your touchtone telephone. Please note that this conference is being recorded. I now hand the conference over to Ms. Aarti Jhunjhanwala from Fineotex for opening remarks. Thank you. And over to you.
Aarti Jhunjhunwala — Executive Director
Thank you so much. Good afternoon everyone. Let me start by extending a warm welcome to everyone who has joined us today on the call. It is always a pleasure to connect with our investors, analysts and stakeholders. We deeply appreciate your time and continued trust in Finotex Chemical Ltd. Before delving into the operational performance, I would like to give a brief overview of the company. Let me begin by reiterating our core philosophy. Finotex has always been more than just a specialty chemicals company with innovation, customer centricity and sustainability at the heart of everything we do. While remaining cost effective, we are a single stop solution provider across various lines of businesses including textile, Chemicals, fmcg, cleaning and hygiene, oil and gas and water treatment.
Our expertise in these areas combined with our deep customer relationships allows us to deliver high quality and tailor made solutions that meet the evolving needs of the industries worldwide. With a strong manufacturing base and a global footprint, we are well positioned to capitalize on future high growth opportunities coming onto our operational performance. Textile Chemical segment remains stable with sustained demand across key geographies. We added 24 new 25 new customers during fourth quarter and a testament to our expanding reach and trusted performance. We also developed 15 new products reinforcing our focus on innovation and our ability to respond swiftly to evolving customer requirements.
While the FMCG cleaning and hygiene segment witnessed a temporary softness in volumes, the underlying demand fundamentals remain intact and we anticipate a pickup in the coming quarters. Our new business lines, water treatment and oil and gas delivered strong performance with a substantial increase in both volumes and value contributions backed by a robust and growing order pipeline. Further, we are undertaking focused capital expenditure and brand building initiatives. These investments are aimed at enhanced production capabilities, strengthening our market presence and accelerating customer acquisition in these fast growing business segments. These business lines are expected to play an increasingly significant role in our revenue Mix in the coming years.
In water treatment, the demand is driven by industrial expansion, environmental regulations and zld which is zero liquid discharge mandates, increasing the need for biodegradable polymers, antiscalent coagulants and metal chelating agents. The oil and gas sector is benefiting from increased upstream activity and refinery expansion driving demand for demulsifiers, corrosion innovators and stimulation chemicals. With a growing shift toward eco friendly and water based formulation, this diversification strengthens our overall business and allows us to capture emerging opportunities in high demand industries. A testament to our innovation and sustainability drive is the launch of our new product Aquastrike Premium, a next generation biotechnology based mosquito control solution.
This is non toxic and eco friendly, not only disrupts the mosquito life cycle more efficiently than conventional methods but also contributes to water preservation. Aquastrike Premium presents a strong market opportunity driving impactful innovations in the global chemical industry driven by the launch of innovative products through cutting edge R and D capabilities while remaining and maintaining a sharp focus on sustainability. We have developed 13 new products during the quarter increasing our product offerings. I would now request Arundam Ji to take us through our key developments.
Arindam Choudhuri — Chief Executive Officer
Thank you Aartiji. Very good evening. It has been an eventful year for us marked with several important milestones in our journey. The year witnessed growth in new business areas. In line with our diversification strategy, we expanded in water treatment chemicals as explained by rtg obviously with oil and gas. To capitalize on the tremendous growth opportunity in these areas, we aim to leverage our expertise in these avenues and are already seeing an increase in pipeline orders across the domestic as well as export market. During this year we developed Aquasty Trademark Premium which is our biotechnology based mosquito control solution.
Formulated using a particular chemical called Azathricine, this product has already received government approval. This product gives us inroads into the public health domain. Being an eco friendly plant based biocide, we expect Aquastrike to open new opportunities in both institutional and public health markets, particularly in the topical and developing regions. Speaking about our greenfield expansion initiative, we are happy to report that it is progressing well and we aim to commence operation by quarter two financial year 2026. This new facility will add 15,000 metric ton per annum of capacity taking our Total installed capacity one 20,000 metric ton per annum.
Designed with state of art manufacturing technology and strong focus on environmental sustainability, the plant will enhance our ability to meet rising global demand while adhering to the highest ESG standards. Touching upon our industry scenario, the recently approved free trade agreement between India and the UK is expected to benefit Indian chemical exporters like us by improving market access, reducing tariff and obviously enhancing supply chain efficiencies. This agreement position Finotex to strengthen its presence in the UK and broader European market especially in textile and specialty chemicals. Moreover, it is heartening when our products garner recognition in the global industry.
For instance, we received the ENABL accreditation for the third consecutive year. Our cleaning and hygiene range got the Green Pro certification. We also got the NSF 49 certification from us which is a Certification and Inspection Limited UK and own Eco Verdes commitment batch for proactive sustainability performance. This reflects our cognizance toward our environmental impact. Last but not the least, our company own the Great Place to Work certification for a fourth consecutive year which is itself a great achievement. So with this I would now like to hand over the call to Mr. Sanjay Tibrawala who will take us through the financial performance of our company.
Thank you. Over to you Sanjay.
Sanjay Tibrewala — Chief Financial Officer and Executive Director
Thank you Arindam Ji. Good afternoon everyone. Talking about our financial performance for the full year 25. Our total income remains flattish as 558 crores year on year. The gross profit for the year is 205 crores with margins being stable at 38.57 percentage the gross margin. The EBITDA for the full year stood at 127 crores while the EBITDA margin softened by 222 basis points to 23.85%. This was led by capex and brand building initiatives taken by the company for future growth and the new business verticals and the product lines that the company is developing. Especially for the oil and gas, for the water treatment and also for the mosquito life cycle controller.
The PAT has been reported as 109 crores visa vis 121 crores. In the previous corresponding year the PAT margin stood at 20.48%. The cash balance and equivalent cash equivalence for the year is reported at 52 crores. This is after the cash deployment CAPEX deployment in the new facility and the new corporate office located in Andheri and and the new plant which is upcoming for which already deployment has been taken. The share of exports in the total income comes at 22% during the quarter. Moving to our financial ratios, the ROC for the year stood at 23.56% while the ROE was 18.32.
Due to the fundraise activity during the financial year 25 our return ratios has been moderately temporarily reflecting the higher capital base we generated positive operating cash flows of 69.33 crores with a healthy CFO to EBITDA ratio of 54.50 percentage, underscoring once again a strong operational efficiency and prudent working capital management. The company has a healthy order book reflecting its underlining business performance and customer trust. However, certain deliveries were postponed during the quarter for financial year 25 due to certain geopolitical tensions in Bangladesh and other places and the trade related disruptions. These deferred orders are expected to be fulfilled in the current financial year.
With the current improving global trade environment and the new policies which have been coming up and easing of the political conditions, binotext is well positioned to capitalize on these backlogs which are likely to act as a strong tailwind in the upcoming quarters. Our long term growth strategy remains focused on developing our core business while diversifying into new product segments and verticals. As Arindam Ji has already mentioned, the upcoming plant is set to be operational in quarter two financial year 26. It’s going to further bolster our manufacturing capability. Innovation is in our DNA and new solutions like Aquastrike Premium demonstrates our commitment to new product development and global market expansion while keeping sustainability in mind.
Our disciplined financial management positions us to capitalize on any opportunities, both organic and inorganic, including strategic investments in R and D, market expansion and potential acquisitions that align with our long term vision. Furthermore, our continued focus on operational excellence and customer centric solutions should allow us to unblock new revenue streams and expand our footprint across key and emerging markets. With a clear roadmap, a strong order pipeline and ongoing diversification into high potential sectors, we are confident in delivering value to stakeholders and achieving our ambitious annual growth targets. We have entered a new physical financial year on a very optimistic note.
With that, I now open the floor for questions. Over to you Ryan.
Questions and Answers:
operator
Thank you ladies and gentlemen, we will now begin the question and answer session. Anyone who wishes to ask a question may press Star and one on their touchstone telephone. If you wish to remove yourself from the question queue, you may press Star and two participants are requested to use their handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. The first question comes from the line of Suraj Kaitan from SKP Securities Ltd. Please go ahead.
Suraj Kaitan
Hello, I’m audible? Yes please. Mr. Kathan, go ahead. Thank you for the opportunity. Sir, I want to know two things. EBITDA margins for this quarter was low. What is the reason behind it and what is the guidance for the upcoming financial year?
Sanjay Tibrewala
Okay, so as you have mentioned, I would like to also touch on the gross margins which has been Pretty intact and in line with the delivering of the last five years as well. The EBITDA margins, as I also mentioned in the opening remarks, there has been a lot of sales, promotional expenses being done by the company and which has already been going very positive.
Lot of activations, a lot of new product developments, a lot of, you know, promotional activities which are all going and that has also led to lower EBITDA margins for the quarter. However, as already mentioned, our EBITDA margins for the entire year is 24% as such. So going forward we are quite confident with the new initiatives and the attention and the brand building exercise which the company has done in the new product segment. We are looking for strong concrete growth going forward and we are quite confident that we will be having similar kind of performances as we have done in the last four, five years in the EBITDA numbers, EBITDA percentages.
Second question is one more question sir. The new product that we are launching, what is the target market size for this segment? See, there are a lot, many, you know, see there is ongoing activities in the textile segment and there is a lot of things going on routinely on those lines. The new product segment which I’m referring mainly is the oil and gas and the water treatment. Now the oil and gas, I mean as we are also seeing a great geopolitical changes happening around. So the biggest markets for this is the Middle east and the US markets and most of these companies operating from US has diverted their supply chain to India or on the way of diverting it from to India right now with the same focus and the sign of product lines we have and the kind of exhibitions we have been doing now we have been participating in OTC in Houston, in ADIPEC in Vertex, in Dubai.
In the last three months our team has been visiting most of the countries and I’m also personally taking care of this new, you know, exciting opportunities which has come on our way. There’s a lot of order booking which has happened on this line and we are very positive that this business will be also shaping up and showing becoming one of our very important segments going forward.
Suraj Kaitan
Okay, thank you sir. Thank you for the opportunity. Thank you Mr. Ketan.
operator
Thank you. We take the next question from the line of Kautuk Yemde from AXA Noun Investment. Please go ahead.
Kautuk Yemde
Hello sir, thank you for taking my question and I have a couple of questions from my side. I wanted to know why there was a softening of the FMCG vertical out of the business. Can you please elaborate on the same?
Sanjay Tibrewala
So to the Best of our knowledge. Am I audible? I mean, listen please. Hello? Yes. So as for what we have understood. Perfectly, sir, Just give me a moment. K, if you can please mute your line. Ryan, can you move muteom itself?
Kautuk Yemde
Sure, sir.
Sanjay Tibrewala
That’s better. Thank you. So I’ll answer his question which I heard he asked about the drop in the hygiene and this thing. So as such, there has been quite a price rise in the detergent raw material prices in FMCG sectors in from it was already from November, December, you know, the chemical prices have gone up. And then what happens generally when these things do happen? It’s a, it’s, it’s like it’s a, you know, there has always been a, you know, flexible in the demand and such situations where the performance boosters and the products and the sustainable solutions which we offer for such FMCG players, their consumption decreases because in turn they also have softening in their demand.
So as such we have not lost any customer for sure. And this kind of demand is also because cheaper products were launched. There has been a change in the product mix. At the same time there is a lot of new products being launched. There is a change in the market requirements from powders to liquids. And any such changes takes time and the transition time for the things to settle around. So I think I would rather say this quarter has been more of a transitional quarter where the things are shaping up and already we have got super exciting opportunities for the new product launch and the new product mix which the customers have launched.
And we are very confident that going forward we should be seeing better numbers always.
Kautuk Yemde
Okay, thank you. And what are the investments that we are seeing in the books? So the investments have actually tripled from last year. So can you throw some light on that?
Sanjay Tibrewala
As you would also be knowing that we have already, you know, had a fundraise and thereafter we have invested in the new plant which is being set up. And so we have almost gone for a fundraiser of 342 crores out of which the promoter has contributed 45 crores, 44 crores actually. And some of it has to be paid upon the 18 months of the, you know, the warrants as such when the time comes in. So this is kind of investment and there is a lot of capital in work progress also going around. So maybe in the by September you will find more clarity on what all things have been installed.
Because we are hoping that before September we will be initiating our plant in Abernath. This plant is also very close to our existing plant, Ambarnath one which we started three years back where we already producing more than 60, 61,000 tons. So this will be another one which is being done right now.
Kautuk Yemde
Okay, fair enough. And the last question is regarding the future outlook. So do you see things bottomed out in this quarter or do you further expect a quarter or two to be quite muted?
Sanjay Tibrewala
I can give you all the, you know, our view and our opinions I can share with you. So as you see, in the last five years the company has performed average 50% CAGR in the PAT and also performed almost, you know, the EBITDA numbers has also been 32% EBITDA in the last five years CAGR level. So obviously there is always a point where the company has now invested a lot. There is, if you see also there is a lot amount of depreciation which has come into play now. At the same time a lot of promotional activities, lot of promotional sales, more team members, top senior people have joined us from, you know, different industries and product segments which things are moving rapidly.
I would say this is the inflection point probably also I can say so because in textiles we are hoping a great revival or as far as the Indian markets are concerned, especially from the coming months, you know, from June onwards that one detergent markets are going to get normalized because the prices of the crude oil has softened. So the chemical prices will eventually get softened. So more special boosters will be added in the detergents. At the same time our order books for water treatment and oil and gas is. We are quite enthusiastic and excited with this kind of opportunities which we have got right now.
So I think, I would rather, I’m quite confident that, you know, the going forward years will be something which we have done in the last three, four years as well. Looking at our opportunities we have and also the industrial direction.
Kautuk Yemde
Thank you for taking the questions. I’ll move back to the.
Sanjay Tibrewala
Thank you.
operator
Thank you. The next question comes from the line of Ajay Kumar from Kusum Capital. Please go ahead.
Ajay Kumar
Hello, sir.
Sanjay Tibrewala
Yes, yes, sir.
Ajay Kumar
Sir, my question is on the new product Aqua Strike Premium, is it who approval done or not? Done, sir.
Sanjay Tibrewala
So what we could do, we have taken the Central Insecticide Board approval which is under the, you know, from the ministry. At the same time we have invested and we have, you know, got the approval from Hapkin Institute and a detailed report has come to us on that already. This has been offered to the National Vector Board also and the Technical Administrative Committee. Tac, which we call it, is also considering that part as well. So the reports have Come extremely exciting and we have got great results and we are seeing a mortality rate of you know, 100% in the use of two to three hours which is quite phenomenal actually.
So I can just in a short while I can only express to you these updates that this is where it is today and yeah, that’s the way it is.
Ajay Kumar
Any orders from Indian boards or like Indian is summer season like from trial order from Bombay, Delhi, some southern state like now is the peak of the product use.
Sanjay Tibrewala
So what we have done now we have just got the Hopkins reports which is just one month old and we have already submitted to several state governments. There is a point of interest coming up but due to the. You know the political situation which happened in the last two weeks back these focus by most of the states and the central was not on this at the moment. However, it looks like now things have settled down and things are getting back to track and there will be a faster, you know approaches on this line.
Ajay Kumar
At present there is no order from.
Sanjay Tibrewala
This partner as such. This product has already been sold in Singapore and Vietnam as we have told you in the past also. But it is going from the Malaysia India as a procedure it has systems. There are a lot of government machineries and authorities and approvals etc. So these things always we need to pass on the protocols. And as and when we pass it on we’ll be keeping on updating the investors by the stock exchange median also.
Ajay Kumar
My second question is that in this quarter the pat is down approximately to 20 crores from 27 crores from last quarter. Sir, I have just seen that goods purchased and inventory losses.
Sanjay Tibrewala
I’ll tell you the answer. I think this is your third question but I’ll still answer it. So the first thing is as such there has been intact. The gross margins have been totally intact. Number one, almost intact. Let’s say it’s a minor drop of 1.5% or 1%, something like that. Number one, as we have also mentioned there has been a lot of investment done by the company for sales promotion, team adding etc etc which I have already repeated twice today. At the same time there has been an increase in the depreciation as you can consider that part also.
So these things, if you can go through that you will find that you know this is the situation where it is. Nevertheless we are very hopeful that we are going to these investments are going to see the results in the coming times.
Ajay Kumar
That’s okay sir. But I have seen that the inventory loss is also there, sir.
Sanjay Tibrewala
Yeah, so that is also would be A point. But the major points which I have already directed you and all the participants. And I think if you have some more queries, I think you can also meet our investment relations and our team as well. Or maybe Ryan can also join you again in the queue because. Yeah.
operator
Thank you. Ladies and gentlemen, we request you to restrict to one question per participant and rejoin the question queue. The next question comes from the line of Bhavind Soni from BNK Securities. Please go ahead.
Bhavind Soni
Hi sir. Thanks for the opportunity. Am I audible?
Sanjay Tibrewala
Yes, you are audible.
Bhavind Soni
So just if you can help me for FY25 revenue breakup within textile and FMCG and volume growth or degrowth.
Sanjay Tibrewala
If I may. So I mean you. You require the revenue breakups. Right? So you can say now if you. Yeah. So basically the. You can. Almost like 70% of the revenues is textile specialties for the entire year.
Bhavind Soni
Okay.
Sanjay Tibrewala
73% at the moment for this year. And in terms of volume, if you consider from the last year there has been a drop of almost 10% in the volume. But as such, you know, there are always changes in the product mix also, you know, because we have 1500 SKUs. There are times when the product, you know, we. Let’s assume like you know, when the cotton prices move here and there, there has been shift and PVCs are launched, I.e. the polyester synthetic one. Then the chemicals have to change again. Some prices of the product are not the same.
So we have more than 1500 SKUs. But still to answer your number, this was the number which I shared with you.
Aarti Jhunjhunwala
And the 10% volume degrowth was overall basis or for textiles?
Sanjay Tibrewala
No, actually. Good, thanks for mentioning that point. As such, the textile has not gone down. The textile has in fact gone up by 15% in terms of volume and the revenue of the same has gone up by almost 10%. The gap has been coming up in the health and hygiene, the cleaning sector where the. And that has brought down the overall. You know, the overall performance in terms of volume and the numbers.
Bhavind Soni
Thank you.
Sanjay Tibrewala
Thank you. Thank you.
operator
We take the next question from the line of Devendra Kumar from Devendra Capital. Please go ahead.
Devendra Kumar
Hello.
Sanjay Tibrewala
Yes. Yes.
Devendra Kumar
Yes. Yes. Sir, my question is on the front of SMCG sector. Sir, the one order of 150 crores you got, I think three years back. No such query or any update like big players. Are you said querying about your product. No product, no order. I got your point. I could understand your question, please. So if you see, we have already got it. We have already executed it. It’s still going on. This was not one year. I think you’re talking about at least 20, 23 or 22 December anyhow. 21.
Sanjay Tibrewala
21. Okay, 21 still better. So it’s already four years old now and this is what we have performed. And as you know any order from any company is always subject to the market conditions and things. And if there are some changes in the market’s external scenarios we all have to adhere to that and respect it. And always there are certain orders which do get postponed not only for that industry, even for textile industry right now also as you know due to the tariffs and all lot many orders from Chinese to usa I mean Americans have been stopped similar for some of the Indian textiles also.
So this is part of it. There is no company we, you know which can modify their, you know get into those things and we all, all what we can do is we can we do the things what is best for the company and in the interest of the stakeholders. So that’s been done perfectly as long as it’s in our control. Thank you.
Devendra Kumar
Thank you.
operator
Ladies and gentlemen, in the interest of time and fairness to others please restrict to one question per participant. We take the next question from the line of Ganesh Nagar Shekhar from Bharat Bet Research. Please go ahead.
Ganesh Nagar Shekhar
Hello sir. So my question is regarding the SMCG part of our business. So in Q4 what was if you could quantify the volume decrease that we’ve had and this part of the business has been struggling for a couple of quarters now even as some of our other listed competitors are seeing an improvement in this segment. So I mean the management would have thought about this as well. So where do you think we are kind of doing wrong in terms of execution and going forward into the next year where can we see incremental improvement in the FMCG part of the business?
Sanjay Tibrewala
I’ll tell you what, we are producing sustainable solutions and performance booster products which help their performance to go up. So that is one what happens is when the overall industry is not faring well due to price reasons or due to competitiveness. As you know Hindustan levers, PNG all had its all you know, certain markets and the, you know there was a lot of issues in the market in the pricing this and that. What happens people get in change the product mix to lower category of product mixes so that it fits the pocket size of the customers and the consumers.
So those times people don’t get into too much of specialty performance boosters or sustainability is on the second level. It’s Something like that. It’s. I. I don’t know what analogy I can give you. When there is a shortage of, you know, so basically I can say that we are producing the paneers and the cheese of the products and when the markets are not good, people don’t have the cheese and the paneer, they have more of the Idlis and the dosas. So that is something which I would like to give you an analogy. Those products which we are doing are sustainable solution providing and performance boosters.
But when the pricing of the consumers, there is a restriction on that in terms of the, you know, the demands and the kind of disposable incomes and things like that. That time a lot of economical products move by the consumers and FMCG companies. And hence this is the way the. This is not happening first time by the way this happens. It’s a. It. It’s always the way it is. It happens once in. Always in seven, eight quarters. If you see even in 22nd January we had, you know, 21 or something, we had similar kind of quarter where everything had gone down in this field.
So this is what I will say. We are not supplying the basic chemical of it. We are supplying the high end, high EBITDA margins solution providing sustainable solutions for the consumers. So this is a place where it’s not the bread and butter kind of things, it’s something more on it. So we, we are hoping that. And already things are getting better than before. So that’s the way we are.
Ganesh Nagar Shekhar
And in terms of the volume decrease for the FMCG segment in this quarter, what would that be?
Sanjay Tibrewala
So actually you know what the FMCG segment, what we are mentioning is there are two sub verticals we have. One is the products which we have our own FDA pharma certifications where institutions are using our product lines. We are working with big brands already. So that has not been much affected. Actually the major effect which we got is let’s say we are supplying our products to detergent and FMCG companies. So that has affected mainly. So if you say from that angle there has been a drop of almost, I can say 50, 18% from. But these things do happen sometimes.
So this is something on that lines also.
Ganesh Nagar Shekhar
Understood. And in FY26, other than the market improvement scenario, anything proactively that we are doing for the FMDG segment.
Sanjay Tibrewala
Well, there are a lot more. You know, geographically we have expanded lot many customers have came in, more sustainable solutions have been made. Things are getting better. Lot of new inquiries and new products. We have started for the new product mix also. So right now there is a lot of new demands for the liquid detergent. Also if you are watching the performance of PNG and all, mainly the liquids are picking up because powders and bars have become little old fashioned, I can say. And so already a lot of our customers are shifting to liquids. Like I said, transition takes time.
Everything takes a quarter or two to change over, get the product inside, get it. You know, the market has to understand it and accept it. So we are in that, you know that, that stage.
Ganesh Nagar Shekhar
Understood. And we were pitching to some of the MNC clients for the FMCG businesses as well.
Sanjay Tibrewala
Right.
Ganesh Nagar Shekhar
So any progress on that front or is that still in the works?
Sanjay Tibrewala
Everything is under progress. I would like to, I mean I’d not like to diverse too much of the exact updates here. Yeah. So everything is going on as we are expecting it to be.
Ganesh Nagar Shekhar
Understood. Thank you so much.
Sanjay Tibrewala
Thank you.
operator
Thank you. We take the next question from the line of Rohit Hori from Progressive Shares. Please go ahead.
Rohit Hori
Hi team, couple of questions. The first one, we know that there are certain clients, customers who are trying to revamp their portfolios by. When do you think that this exercise will be completed? From the end.
Sanjay Tibrewala
It’s an ongoing exercise. But that is not the only thing. I mean apart from that we are already getting more stronger in the existing product range and getting more consumers as well. But I would, I think, you know, by, by the coming month or let’s say another month or so, everything should be getting back to normalcy where it was.
Rohit Hori
Well, we have some.
Sanjay Tibrewala
I’m referring about only the FMCG industry Rest. All is going fine. Like I mentioned now textile is already booming for us by the way, it’s not exactly for everyone right now due to these changes. But yes, again the future for textiles from June is looking one of the most, you know, optimistic sector as as far as we can understand it.
Rohit Hori
That’s encouraging. But is it possible to share the value of orders which must have gotten Deferred from Quarter 4 to Quarter 1? Is it possible to quantify that?
Sanjay Tibrewala
It is tough to right now find that answer for you. But we can connect again. Mr. Rohit. Yeah.
Rohit Hori
You and your team, they have been, you know, investing quite a lot in the exhibitions and you all have seen quite a lot in the chem expos. While you have also added 25 new customers. Is it possible to give a breakup of which are the segments where these customers are added in?
Sanjay Tibrewala
Right now we are like we have our business heads and everyone are doing the best they can. We have got interesting orders and tie ups with the biggest oil and gas companies of the world. These companies, each of them are about $20 billion businesses globally. And I cannot name those names but I can just tell you some thought processes which is going on the back end that some of these companies are let’s say if they are buying like example one of them is buying let’s say $150 million of chemicals from India and they have been mandated by the Headquarters USA to divert the Chinese procurement by $500 million and it should be procured from India.
Rohit Hori
So.
Sanjay Tibrewala
So you know, and there is a big supply gap happening. We are drenched with inquiries. We are drenched with you know, these. So in the oil and oil and gas there is something amazing happening. It’s. It’s something which we were not anticipating and we are increasing our manpower, our exposures. Last week also we were, all of us were in the Middle east and the month before, I mean we are participating in the one show and exciting orders and contracts have been achieved there. I would not be able to diverge numbers and other things on these calls.
But yeah, so we are very opportunistic and excited about these opportunities. I think this is just to give an idea to you what we are talking about. So. And where the industry is going. Yeah.
Rohit Hori
Because Aarti also mentioned quite a lot about oil and gas and she mentioned about these upstream activities which we can also read in newspapers with ONGC Reliance K in India and Saudi Aramco doing quite a lot of things. Anything, any, any idea as to what sort of number that we can.
Sanjay Tibrewala
We have already. Perfect Mr. Rohit. We have already signed certain NDAs with these giant companies and we are already supporting them. And yes, rightly said we also exhibited in Russia nifty gas. That was just three weeks back. So. And so one team was in Middle east, one was in Russia one. And you know, so every. Every month we have international trips and a lot of things action going on. And so and in fact with Russia, I can say India is the only country which. Which has the maximum potential to suffice to Russian requirements. The Russian market itself needs chemicals of 70,000 crores in the oil and gas sector.
And so you know, and it’s equivalent to lot many Middle east countries. So. And also as you know that you know due to the geopolitical situation U. S companies are not allowed to do business with Russia, even UAE and others. And India has the best chance to have great relations with the US as well as Russia. So I think in the Oil and gas sector, Indian companies are poised to do much better than before. And also if you see companies like Dove, Kettle and other names, they have been progressing rapidly on that. We also hear a lot of some acquisitions happening in the oil and gas sector.
Indian companies also, you know, looking at more opportunities and yeah, so and also the cost economies in India is much better. So it’s a definitely, you know, the European chemicals in oil and gas has also been not only oil and gas. I would say even the European textile chemical companies or the European oil and gas chemical companies are already facing a problem and competition from Indian companies like us. So I think this is going to continue.
Rohit Hori
Sanjay Ryan, one last question from my side. With these warrant conversions or without the warrant conversions which can probably lead to some increase in the shares outstanding in the market, do you think you will be able to sustain maybe 22, 23% kind of growth in the earnings per share from 26 to 28? Is it possible?
Sanjay Tibrewala
Well, there is like I said, you know, so there has been a lot of organic expansion going on also we are looking at inorganic opportunities day in, day out. I quite, you know, hopeful that, you know, with the kind of opportunities we have now, I think we should be at least continuing the trend of the last five years which we have done. Of course there has to be certain over certain quarters or overs or whatever in which we, you know, everything cannot be having the same pattern of, you know, this way because there are, you know, so that is all I can say today.
Rohit Hori
Okay. Sanjay, thank you for answering my question. Thanks a lot.
Sanjay Tibrewala
Thank you Mr. Rohit.
operator
Thank you. The next question comes from the line of Rusha from RBSA Investment manager. Please go ahead.
Rusha
Just to carry forward from the optimism you shared in the oil and gas segment, I believe this could be as big as the textile segment if all things go in our favor. So should we not be announcing significant capacity already since you may expect significant orders? So when can you expect some significant capex in this segment from your side?
Sanjay Tibrewala
Our capacities are fungible and we are already vendors to ONGC from 2008 by the way, although we were not too active in that sector because in India, you know, oil and gas business is not great.
Rusha
I mean historically, if you talk about not great, what I mean is comparatively if you talk about Adnoc, if you talk about PD Oman or Aramcos or Kocs, now Koc is doing to, you know, 202 lakh 50,000 barrels a day and they are expecting in the next 18 months or two years they’re going to do 4 lakh barrels which is a jump of 50% almost, let’s say a little more.
But and they are worried that who’s going to supply, how is the supply trend going to happen etc. Etc. So what has happened is we are not exactly too much focused on oil and gas in India because Jihape as you know it’s more having its, you know, government owned companies are here more or less but still we have been there. So these products, what we are doing like polymerization, estrification, sulfonation, phosphoration is at for all the industries. It is a fungible capacity. So in the same product, I mean the, in the same machinery setup we can make these kind of products and so we don’t need a separate investment oiling gas.
However, having said that there can be some requirements specific for product lines because some products are like in powder forms or this and that where we will need a, you know, 20, 30 crores of investment. So as we have also mentioned that we have a cash balance of 355 crores odd at the moment apart which this is after the investment of almost 110 or 115 crores which we have already done in the last financial year or a little more than that, let’s say in the last 15 months. So I think we have enough of internal accruals and also generating good cash.
So I don’t think we have to worry on the cost of the expansion on that line for production capacities in future. What is your capacity utilization? Can you share for FY25? The F25 it is around 59% or so.
Sanjay Tibrewala
Yeah, around 60%. You can say round off and this, whatever FDA, you know actually I think you know if we have to, you know we have to get back in the queue because there are some more questions which are coming up. Yeah please. Thank you for that. Yeah.
operator
Thank you. We take the next question from the line of Anirudh Daga from AV Securities. Please go ahead.
Anirudh Daga
Hello. Thank you for the opportunity. Sanjay. Sir, any update regarding the acquisition plans that we have?
Sanjay Tibrewala
So yeah Mr. Anuradh, like we have been mentioning, you know any kind of such substantial material facts which comes up, it will be shared with all on the, on the. As per the protocol on the stock exchange right now. Yes, we have been negotiating, there has been negotiations and, and a lot of changes have happened in the last four, five months. So so we also have to be very careful with whatever action plan we do. And so yeah, so things are on. Okay. And so regarding the conversion of the, the balance money that is going to come in say by November or September or whatever, are we confident of getting.
Anirudh Daga
The balance 75% into the company? Because to be fair the stock price and the conversion at 387 is very, very.
Sanjay Tibrewala
So then the point is that it is of November, there is six months to go number one. Number two, the company has enough of cash which can be utilized for any inorganic opportunities or organic opportunities. Organically like I said, we have already invested 115 crores by now and right now we have 355 crores of liquid cash and cash equivalents available for the expansion. So even if that doesn’t happen it doesn’t affect the working of the company or any opportunity of the company to be missed out number one. And number two as you must be knowing if that 75% doesn’t come in, the 25% has, is retained by the company tax free and directly added to the reserves.
So in, in any case the company is not having any kind of issue or you know, a worry point right now.
Anirudh Daga
Thank you. And the promoter has also, the promoter in fact myself invested almost 11 crores and 33 yet to be done in the conversion by November.
Sanjay Tibrewala
So I’m assuming the promoter is definitely going to convert, right?
Anirudh Daga
I mean I don’t know what to answer to you right now but yeah, I mean let’s see what happens. I mean but ours was at 345, not at 385.
Sanjay Tibrewala
Yeah. Okay. Thank you so much for touching up this topic also.
Yeah.
operator
Thank you ladies and gentlemen. With that we conclude the question and answer session. I now hand the conference over to Mr. Sanjay Tibrawala for his closing comments.
Sanjay Tibrewala
Thank you participants. It has been lovely to, you know, to have this kind of attendance again. More than 100. And I would like to thank all our employees, customers, investors and stakeholders for your continued support and trust in Finitech. We are totally committed and we are in the right directions. We are in fact more excited than before ever in the future and we will continue to be committed to create long term value for all of you. Thank you so much. Have a great evening ahead. Thank you very much.
operator
Thank you. On behalf of Finotex Chemical Ltd. That concludes this conference. Thank you for joining us and you may now disconnect your lines.