{"id":183289,"date":"2026-05-18T01:34:24","date_gmt":"2026-05-18T05:34:24","guid":{"rendered":"https:\/\/alphastreet.com\/india\/fineotex-chemical-limited-fcl-q4-2026-earnings-call-transcript\/"},"modified":"2026-05-18T01:37:09","modified_gmt":"2026-05-18T05:37:09","slug":"fineotex-chemical-limited-fcl-q4-2026-earnings-call-transcript","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/fineotex-chemical-limited-fcl-q4-2026-earnings-call-transcript\/","title":{"rendered":"Fineotex Chemical Limited (FCL) Q4 2026 Earnings Call Transcript"},"content":{"rendered":"

Note:<\/strong> This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon.<\/em><\/p>\n

Fineotex Chemical Limited (NSE: FCL) Q4 2026 Earnings Call dated May. 18, 2026<\/span><\/strong><\/p>\n

Corporate Participants:<\/h2>\n

Aarti Jhunjhunwala<\/strong> \u2014 Head – International Marketing<\/em><\/p>\n

Arindam Choudhuri<\/strong> \u2014 Chief Executive Officer<\/em><\/p>\n

Unidentified Speaker<\/strong><\/p>\n

Sanjay Tibrewala<\/strong> \u2014 Chief Financial Officer<\/em><\/p>\n

Analysts:<\/h2>\n

Vinay N<\/strong> \u2014 Analyst<\/em><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Presentation:<\/h2>\n

Operator<\/strong><\/p>\n

Ladies and gentlemen, good day and welcome to the Finotex Chemicals Limited Q4 and FY26 earnings conference call. 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 touchstone phone. Please note that this conference has been recorded. I now hand the conference over to Ms. Aarti Chunjunwala, Phenotix Chemical Ltd.<\/p>\n

Thank you. And over to you, ma’. Am. Artim, over to you. Artimam. If you’re speaking right now, we are unable to hear you. Hello Ma’, am, are you able to hear us? Ladies and gentlemen, please stay connected while I join Ms. R.P. Junjanwala on the call. Yes ma’. Am. You’re audible. Please go ahead.<\/p>\n

Aarti Jhunjhunwala<\/strong> \u2014 Head – International Marketing<\/em><\/p>\n

Okay. Yes. Yes. Good morning everyone. It’s always a pleasure to connect with our investors, analysts and stakeholders. We deeply appreciate your time and continued trust in Finotex Chemical Limited. Finotex today is evolving into a diversified global specialty chemicals platform driven by innovation, customer centricity, sustainability and execution excellence. Over the years, we have built strong capabilities across textile, specialty, FMCG and hygiene chemicals and are now strategically expanding into the high growth adjacent segments including oil and gas and water treatment chemicals.<\/p>\n

As you all are aware, in December 2025 we acquired crude Chem Technologies Group, a U S based specialty oil field chemical manufacturer focused on advanced chemical fluid additives and comprehensive solutions for the global oil and gas sector. This acquisition marked a significant step in our strategic expansion into high value specialty chemicals segment, further strengthening our position as a diversified global specialty chemicals company. On the strategic front, this acquisition provides us with an immediate entry into the large North American oilfree chemicals market through an established and operational platform with an existing customer base and distribution network.<\/p>\n

It also significantly strengthens our presence in high margin upstream specialty chemicals. Crude Chem brings strong manufacturing and formulation expertise, technical capabilities and deep customer relations across the key oil and gas basins in the US we see meaningful opportunities for cross selling, product innovation, sourcing efficiencies and leveraging Finotech’s global formulation expertise across this combined platform. Importantly, since this acquisition, we have already initiated several operational improvements focused on execution, scalability, capacity, utilization and customer servicing which we believe will create significant long term value for the company.<\/p>\n

Encouragingly, we are already witnessing improved operational efficiencies and stronger business momentum across the acquired operations Also, most importantly, the acquired group shares the same ESG driven philosophy that forms a core pillar for finotech’s long term vision which reinforces our commitment to sustainability, compliance and responsible growth. The company has been serving marquee global oil service and producing companies in US which serves leading global oil field service and exploration and production companies across the US in the line.<\/p>\n

With increasing demand outlook and strong customer traction in the US Oilfield chemicals market, we are now in process of doubling the manufacturing capacity in crude chem. This expansion position helps us to cater to larger contracts, onboard new customers and accelerate growth in the high margin specialty oil fee chemical segment. Now Arindamji will take us through the key developments for this quarter in the specialty textiles chemicals business of the company. Over to you Arinaji.<\/p>\n

Arindam Choudhuri<\/strong> \u2014 Chief Executive Officer<\/em><\/p>\n

Thank you RKJI and very good morning everyone. Coming on to the textile specialty chemicals, the industry environment remains stable with healthy underlying demand during the quarter both globally as well as in India. Expanding onto India US trade deal is key point its effect on the textile sector. It has the potential to significantly strengthen Indian textile export competitiveness which adds further excitement in the domestic textile and garment producers particularly along with the evolving trade framework and partnership with the UK and European market which we all aware demand continue to be supported by recovery in the apparel export, growth in home textile, increasing penetration of technical textile by Government of India and rising adaptation of the sustainable and performance driven chemical formulation.<\/p>\n

Indian textile export grew 2.1% year on year in FY26 to 3.16 trillion, I repeat 3.16 trillion. Led by readymade governments. Growth occurred across 120 destination despite challenges last year like US Tardif and West Asia disruption. Also very interestingly domestic demand remains steady supported by the urban consumption Home Furnishing department specifically and government initiative towards technical textile and manufacturing expansion in the particular technical textile field. Within specialty chemicals, demand for value added finishing and performance chemicals remain relatively stronger compared to last year and also the conventional auxiliary products are also moving quite well which continues to benefit companies with diversified and innovation driven product portfolios like us.<\/p>\n

Going forward we remain optimistic on the sector outlook supported by China +1 opportunity, supply chain diversification, sustainability driven demand and potential benefits from ongoing trade agreement and FTA across key export markets. Now I’ll request Yusufji will highlight the opportunity and the tailwinds in the oil and gas specialty chemicals sector and future tie ups. Over to you.<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

Thank you Aruddinji. Good morning everyone. Coming on to the oil and gas segment, the overall industry environment continues to remain constructive supported by stable Upstream and midstream activity levels across three global energy markets, particularly in North America. Demand trends remain healthy across specialty oilfield chemical categories. Customers globally are increasingly focused on operational efficiencies, production optimization, water management, sustainability and high performance formulations.<\/p>\n

This continues to drive demand for value added specialty chemical solutions and technically differentiated products. From a strategic perspective, the recent UF acquisition represents an important milestone in Finotech’s long term vision for building a diversified global specialty chemicals platform. Beyond the immediate scale up in the oil and gas segment, the acquisition strengthens our technological capabilities, manufacturing footprint, customer access and presence in high value specialty chemical markets.<\/p>\n

Our approach towards partnerships and acquisitions remains highly disciplined and strategically aligned. We are evaluating opportunities that can enhance our product buyers, strengthen our presence across niche and high margin chemistries, provide access to new geographies and customer relationships and further deepen our technical capabilities. With a strong balance sheet, improving global scale and a proven execution track record, we believe the Company is well positioned to participate in the ongoing consolidation and transformation within the global specialty chemicals industry while continuing to create sustainable long term value for all stakeholders.<\/p>\n

Now I request Sanjay to guide us through the financial performance of the company. Thank you.<\/p>\n

Sanjay Tibrewala<\/strong> \u2014 Chief Financial Officer<\/em><\/p>\n

Thank you Yusuf Ji. Thank you. Good morning everyone. I would like to start by highlighting to all that quarter four financial year 26 our revenue from operations grew by 162 to 314 crores compared to the last year quarter. This strong performance was driven by healthy underlying demand across crease business segments along with robust contribution from our newly acquired business. Our profit after tax for the quarter grew by 118% to 44 crores compared to rupees 20 crores in quarter for financial year 25 reflecting both strong operational performance and improving business mix.<\/p>\n

Additionally, our international revenue contribution increased significantly to 70% in quarter for financial year 26 demonstrating the growing scale traction and the growing global diversification of our business. From a return ratio perspective, the Company continues to maintain healthy financial metrics with ROIC at 31% reflecting efficient capital allocation and disciplined execution. Further, our working capital cycle remains healthy at 79 days despite the significant scale up in international operations and business integration activities.<\/p>\n

Since the acquisition, we have undertaken several operational initiatives focused on improving execution efficiencies, enhancing scalability, optimizing capacity utilization and strengthening customer servicing capabilities. These measures have started yielding encouraging results including improvement in EBITDA margins. Importantly, even post acquisition and through the ongoing expansion initiatives, the Company continues to maintain a strong financial position enabling us to remain focused on both organic and inorganic growth opportunities going forward.<\/p>\n

Going forward, the Company remains Actively focused on expanding its global specialty chemical portfolio through a contribution of organic growth initiatives, strategic joint ventures, technology collaboration and selective inorganic opportunities across high growth specialty chemical segments. With that, I now open the floor for questions. Over to you Supnali.<\/p>\n

Questions and Answers:<\/h2>\n

Operator<\/strong><\/p>\n

Thank you very much. We will now begin with the question and answer session. Anyone who wishes to ask a question may press Star then one on the Touchstone telephone. If you wish to remove yourself from the question queue you may press STAR and two participants, you are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue separates. A reminder to all you may press STAR and one to ask a question. We will take the first question from the line of Amit Mehendali from Robo Capital.<\/p>\n

Please go ahead.<\/p>\n

Vinay N<\/strong><\/p>\n

Thank you and congrats on great set of numbers. My first question is on our US acquisition. 350 Are we expecting $200 million of revenue in FY28? And because I was looking at the PPT where it mentions this specific number and the timeline as well and also, you know, what type of EBITDA are we looking at in terms of EBITDA percentage as we scale up the business?<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Yes, thank you so much for this question. This is something which we have been answering very often. So yes, it’s already, if you see the run rate at what we are in quarter four, if you analyze it, it’s already TOUC 90, 200 million and the kind of traction which is being seen with the customers, the kind of technology transfers we have done, the kind of efficiencies, I am very confident that the team will be able to deliver $200 million business in the coming times. At the same time the EBITDA margins have been improving considerably with the kind of, you know, the resources which we have after our, after we being the shareholders in crude chemistry, we could have a lot more resources on machinery, manpower negotiations and suppliers negotiations.<\/p>\n

So these factors have contributed to increase of ebitda. So going forward I think comfortably we should be at a EBITDA of 15% more or less.<\/p>\n

Vinay N<\/strong><\/p>\n

Great, thanks for that. And in terms of business, I was looking at customers like Halliburton, Schlumberger, Baker. These are all marquee customers. So what type of services are we providing to them? Any color on, you know, some like products and services will be great.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

So how it happens, I’ll just give you a general overview how the business model works. So one part of the business is to produce the specialty chemicals. The second part is to provide technical services. To the end users. And the third thing is also to give the last mile deliveries. Now in North America, I mean unlike in India, the transportation, the deliveries and the other kind of services have a great importance because that’s something which the American companies are looking forward for. So it’s like, like on time delivery, the kind of, kind of consignment sales, the kind of technical services to explain how do we get more better output to get the right kind of efficiency.<\/p>\n

So these are the kind of, you know, so our offerings is not only producing specialty performance chemicals but we provide a lot of sustainable solutions and technical services. But the kind of package and the systems it’s set with the customers is something which is, you know, much appreciated by the customers and that’s quite evident in the, in the traction and the way that things are going ahead.<\/p>\n

Vinay N<\/strong><\/p>\n

Great, thank<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

You.<\/p>\n

Vinay N<\/strong><\/p>\n

We were also talking about, you know, doubling the capacity. So what type of at peak capacity, what will be our revenue for the us?<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

So as such already we have been increasing the capacities after from December onwards this month also we are seeing a great increase in the capacities. We a lot of machines have been ordered and we are just installing it maybe in a couple of weeks. This thing should also be increased to a great extent I think easily we should be looking at touching a business of $200 million with the kind of new investment we are going to do in the machineries. At the same time there has been a lot of product mix and lot of traction in the customers demand and the kind of sustainable solutions which we have started providing in oil and gas is something which is also picking up dramatically.<\/p>\n

So we are totally geared about it. Earlier our expectation to touch $200 million was something in 2030. However I think that should not take so long now. It should be definitely before 2028th. So this is the kind of action going on.<\/p>\n

Vinay N<\/strong><\/p>\n

Great sir. And what type of interrupting between.<\/p>\n

Operator<\/strong><\/p>\n

Ahmed, I would request you to please rejoin the queue again for more questions. Sure,<\/p>\n

Vinay N<\/strong><\/p>\n

Thanks.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Pritesh Jada from Lucky Investments. Please go ahead<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Mr. On the TTC side, you know, can you just explain us what, you know, where is this whole growth linked to for us to better comprehend, you know, the scale up to 100 million dollar and the scale up to 200 million dollar revenue in a couple of years time, is it linked? So is it a fair assumption that is actually linked to the US oil and gas production and you could give some linkages there?<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Oh yes, definitely. The market in North America has been growing rapidly and also not. Not only North America, I mean the Suriname and Guyana, these are the new places which is coming up. Venezuela also is getting, you know, getting into the limelight from most of the users service providers. So around North America there is no doubt that the oil activities are going to go up. Furthermore, CCTs are well poised for having the best kinds of systems, the best kind of customers approach. Historically they have been working with all the biggest users, let’s say ExxonMobil, Shell and all the biggest markets name which must be there on the investor presentation as well.<\/p>\n

So these are the kind of companies with Bootcamp has a great history. The demand has been growing and they have been seeing a lot of value which CCT has been providing in general in terms of last mile deliveries, technical services. We have been trying to make the processes, you know, more sustainable by reducing the time taken for the all drilling activity. So there is a lot of combination of factors which is leading CCT to the next level. Right now what we have been experienced in the quarter four is something which is the debates what is already done.<\/p>\n

But already as I see even now in going times I think the order books is too strong enough even to comment right now. And so. But I can say on a conservative number the quarter four was the baseline for the. For the next step.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

I am presuming that the oil production will not double in US in the defined time frame. But your revenue is expected to double. So you know what is it something you have won some contract? Yeah.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

So let me tell you how it is. The market where we are catering to is about $4 billion. The products which where we are okay, this is the scope of the market. It’s there in one of our investor presentations probably. So the North American market is growing. There is no doubt about it. I mean this is especially in the last four months the trend has picked up and it’s not going to stop. This is what was. This is the entire global conflict according to us is helping North America in a very long perspective.<\/p>\n

So the business is growing, the customers demand is increasing. At the same time we are able to get a wallet share, stronger wallet share. The companies are now looking at CCTV to replace most of their suppliers. Because after the involvement of Finotex there has been great capital investment going on. Things have been changing. The customers trust has been brought back into a very strong level. So there is a lot of things which is factoring around the business market is growing and TCT is taking a bigger share of it.<\/p>\n

So that’s Something what we are looking at<\/p>\n

Unidentified Participant<\/strong><\/p>\n

And $4 billion is a US consumption of these products.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

I’m sorry,<\/p>\n

Unidentified Participant<\/strong><\/p>\n

4 billion dollar market is the US by market size alone or is it. Yeah, yeah,<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Yeah, yeah. It’s I think 3.5 or something. But yeah, that I’m talking about the North American market only. Our focus is North America and surroundings only for the moment. However, we have also started taking care of the Middle east businesses. In fact a couple of days back I was there. Our team right now RP and the oil and gas team is also in Oman. Today we have a fair in Oman, in Opez Oman show. So we are tapping wherever the opportunities are coming in from Middle east as well.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

So you need to set up a facility in future. That’s how it will be in Middle East.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

So right now we already have a subsidiary where we were supposed to start a plant. It’s in Russell Khaimah in UAE and we were supposed to start the plant there. Thereafter we had a plan to rather than start from organically, rather there are a lot of opportunities which are coming in especially in these times when inorganic acquisitions for companies who are looking for growth capital and things like that. So this is something which we are discussing with such companies for how do we bring it under the Finotics umbrella.<\/p>\n

So yeah, eventually there will be something or the other which is going to shape up in the Middle East. There’s no doubt about it.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, thank you,<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Thank you,<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Darshul Zaveridi from Crown Capital. Please go ahead.<\/p>\n

Vinay N<\/strong><\/p>\n

Hello, good morning sir. Thank you so much for taking my question. Firstly, congratulations on the grace of this answer. Hopefully I’m audible.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Could it be a little loud? Mr. Zari,<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hello.<\/p>\n

Vinay N<\/strong><\/p>\n

Hi. I hope this is better sir.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Yeah, much better. Please go at least.<\/p>\n

Vinay N<\/strong><\/p>\n

Yeah, yeah. Hi. Hi sir. So sir, just wanted to understand like with the 200 million, you know, target that we have from CCT business itself, what is the revenue, you know, guidance that we could give for FY27 and FY28?<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

I mean, you know, Mr. Zaveri, there are so many things going on. I don’t want to be too vague enough to be wrong but there are so many things moving around and I think whatever we have exceeding quarter four is the base which we have set going forward. So like I, we also revised like we were planning $200 million business in 2030 which is now revised to 2028. Because also a lot of our technology transfers also been done from finer tax a lot of products are going to be produced and already being produced in US where the market is.<\/p>\n

So we are going more closer to the biggest giant Global Fortune 500 customers, giving them the last mile delivery, giving them the right technical services. Things are moving and we are trying to do and achieve whatever best we can. So I would not be able to any forward looking statements here. But in general this is what is the trend and we are on the right pitch. There is a great tailwind which has come to us in the industry and we are grabbing whatever opportunities coming to us.<\/p>\n

Vinay N<\/strong><\/p>\n

Oh, okay, okay, Fair enough, sir. Thank you.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Yeah,<\/p>\n

Vinay N<\/strong><\/p>\n

Yeah. With regards to the margins like as you said that, you know, we are also now getting the operating leverage in. So I think Q4 was around 14%. So on a steady state basis, what do you expect it to be going forward? I understand like CCT will take some time and it’s the lower end of the business in terms of margins. But what do you feel like a consolidated margin range can be? I don’t want any exact number. A range will also be. Yeah.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

So all along, you know, Finotex has been proven for operational efficiencies in the last 15 years of being listed, always our EBITDA margins have been minimum in any of the quarters of, let’s say 60 quarters of being listed. Finitech’s EBITDA have always been minimum, 18% to 28% on the general level. So this is something which we are very much, you know, capable to bring more operational efficiencies and see wherever we can invest in the right technologies and the right kind of inventories and other things.<\/p>\n

On a blended level, we would always look at getting to an easy ebitda of around 18 to 20% and that’s what we are heading to. I think it’s not too far from now. But what’s more important right now is to, you know, derive the businesses and take the maximum businesses in control and then keep working on the operational EBITDA and operational efficiencies. As you know, there has been a massive change in the global freight rate. You know, logistics, everything is getting moving around here and there.<\/p>\n

So in such times, if we are able to perform like this, I’m very confident our team is going to do a great show once the situation gets much better than where it is today. So I am, I can easily envisage that 18 to 20% blended should be. Could be easy, should be achievable by us.<\/p>\n

Vinay N<\/strong><\/p>\n

Fair, fair enough. With regard. Thank you Mr. Yeah, thank you.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Thank you. Yeah, go ahead. So<\/p>\n

Vinay N<\/strong><\/p>\n

No, I Just want to ask like when we are saying we want to double our capacity in cct what kind of capex are we, you know, incurring right now and how much of it has already been spent? Sir,<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

So there has been a lot of capex being done in fact after the acquisition. Also the Finotex has already done a capex of around $7 million. And I mean I know it has extended the, the funds to CCT for you know, for investments further of almost seven. The line of. So this thing is almost $7 million. So yeah, this is going on and as you can see the, the you know Finotex has is there is no debt on books, everything. It’s a cash rich company. So this is something which we are looking at where all we can get the best return on our capital and that’s exactly what we have been doing.<\/p>\n

Now going forward we will keep updating all the participants and investors on, on a, on the exchange level about, I mean about the capacities and investments going forward.<\/p>\n

Vinay N<\/strong><\/p>\n

Okay, okay, fair. And this last question between,<\/p>\n

Operator<\/strong><\/p>\n

I would request to please rejoin the queue again.<\/p>\n

Vinay N<\/strong><\/p>\n

Yeah, okay, thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Nalan Shah from NVS Brokerage. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Sanjay. Congratulations for the entire team for the excellent performance of Q4. I have a few questions regarding the our. Please go ahead.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

No,<\/p>\n

Unidentified Participant<\/strong><\/p>\n

No, no, no. Please go ahead.<\/p>\n

Aarti Jhunjhunwala<\/strong><\/p>\n

The<\/p>\n

Operator<\/strong><\/p>\n

Line for Mr. Naval has been disconnected. We will take the, We have the next question from the line of Keshav Garg from Countercyclic and pms. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

So many congratulations for a extremely attractive valuation that you completed in CCT. Sir. Now there are two questions. Firstly, the consolidated EBITDA margin is 14% for Q4, sir. So for FY27 itself you are expecting, expecting the EBITDA to increase to the range of 18 to 20% or will it be a gradual increase and if so what is the broad EBITDA at console level for FY27? And so secondly we have 53% stake in CCT so any roadmap to increase it and make it into a fully owned subsidiary or we will stay at this level only.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

So to take your first question, there has been enhancement in the ebitda. There has been enhancement in the businesses also. So you will see that eventually, even from this quarter you will see like I said in a way that what you saw in quarter four was a base. Things are getting much better than where it is now, where it was before. There is no doubt that eventually we’ll be Targeting and touching the blended ebitda. What I mentioned to you one of the participants just now. And so yeah that’s the outlook where we are confident enough to develop.<\/p>\n

Coming to your different question about the stake. So yes we have already signed with the founders that 25% of further 25% has to be told by them to Finotax in January 28th. So that’s also going to be. It’s. It’s a part of the agreement. So that’s about it. So that is going to add us to almost 79% or 80%.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Great. Sir, answer my final question that the remaining business non CCT business. So it seems that we have been flattish for the past three years or so now in FY27 you think we can break out from the range that we have been stuck for the past two, three years?<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Well, I mean I would like to mention to you the volumes have already been picked up number one. Number two, even if you talk about textile specialty. So our team has been done a commendable job by now we have already gone up by almost 8% if you compare quarter four by quarter four year on year basis. So this is something which is as you know the last year financial year 26 was the, you know, almost one of the worst year of the decade for the textile companies because of the sanctions and the kind of geopolitical situations from the US And a lot of things were moving around.<\/p>\n

And so going forward there is no doubt that and also, I mean we are already experiencing it from April itself. There has been quite a good movement in the textile demand. And also the textile companies are doing much better than what they were doing before because now India has three big treaties which is very important for the textile companies to export which is UK zero tax, EU and USA is back. All the three things which has come to India at the same time. The fuel cost here is not gone to a different level compared to Pakistan and Bangladesh.<\/p>\n

So I think the industry and the government is doing a commendable job to protect the textile industry. I see a great growth in textile businesses in comparison to the last year. And that also translates that our businesses is going to go up and not only because of that reason but also because of the reason that we have been able to get more, you know, attention from the customers, more wallet shares from the existing businesses. So yes, that the. The way it has been shaping up. So we are very confident this is also the color you are also also getting going to get more improved.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Great sir, thank you very much. And I’LL join the question queue.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Yeah,<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Sunil Zen from Minmal Bank Security Private limited. Please go ahead.<\/p>\n

Vinay N<\/strong><\/p>\n

Yeah, congratulations sir for the good numbers. Sir, my question relate to. Is it possible for you to set the numbers of the crude cam for fourth quarter quarter.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

So I’ll be sharing those details with you. It’s almost, it’s almost. I’ll give you the details. It’s more or less 170 crores or something like this on the. Or 160, 165 crores so that can be shared but as such we are not. I cannot give most of the details right now. We can always connect about it and give you more informations with our investor relation company or you can contact our team members also for that<\/p>\n

Vinay N<\/strong><\/p>\n

Second question sir, related to working capital for crude chem. So if you can talk about that. How’s the working capital cycle for them means inventory days or details days for them.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

So actually you know the, the times are such now that there is a shortage of raw materials sometimes the inventory, the logistics are all haywire. There’s a lot of planning being done. Logistics is globally is not in the right shape. So now the, the way to do it would be is not to look at too much of a working capital because it’s going to get better in future. But right now the, the number, the working cycle is almost 80, 85 days and that’s what it is going on right now to answer that question.<\/p>\n

Vinay N<\/strong><\/p>\n

Okay. And any plan for the between. Mr.<\/p>\n

Operator<\/strong><\/p>\n

Sunil, I would request you to please return the queue again for more questions.<\/p>\n

Vinay N<\/strong><\/p>\n

Great, good. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Karan Kamdar from Choice Institutional Equities. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hello. Hopefully I’m audible. Congratulations sir on a great set of numbers and a great acquisition at valuations. Sir, if you could throw some color on working capital again on the last two years it’s been on an increasing track. So where do you expect this number to sort of stabilize? And our OCF was also sort of negative for this full year. So is, is this something to do with the acquisition or how would it work out for. For the next year?<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Perfect. So let me tell you the working capital right now is almost 79 days which is at par with the industry requirements. There is no doubt about it. Number two, right now as you can also understand the kind of uncertainty in the availability of raw materials and other, you know, other logistics and the kind of delays which is happening globally. It’s very important to keep inventory higher inventories in control because of such kinds of, you know, you know, we have to be committed with our customers and then we need the stocks in place.<\/p>\n

So right now inventory is not the challenge, it’s not the focus. Also working cycle, anything below 90 days is, is one of the best ways to work around. Also keep in mind we have a great negotiation going on that’s also reflected in the Ebitdas. So having working cycle little longer doesn’t lead to any kind of, you know, you know, a kind of a discomfort on that line. Because overall what is important for us is customers trust the stock availability. So it’s a strategy which is working very well for us.<\/p>\n

And so working capital right now is around 79 days. But even if it’s up to 90 days, it’s not a big problem for us. So that’s number one. And regarding your question, as you have rightly spotted out regarding the investment. Yes as the company had acquired there has been, as per the accounting policy, we have to deduct the investments of our acquisitions in the operations from cash flow, which is a one time thing and that’s already been reflected. Going forward you will not, you will have you know that entry will not be there.<\/p>\n

So obviously you will see the, the positive cash flows from operations actually till now also it’s up, it’s positive only however from the accounting point of view because the acquisition money has to be deducted from the operations from cash flow. So that’s why you can see that kind of, you know, that kind of a number.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Got it. Sir. Sir, on, on the CCT side, if you could throw some color on what sort of products are we looking to sell and visit? Service based or is it more product based? That will be my last question, sir. Thank you.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

So, so anything what we do in Finotex and CCT is a combination of three things. Manufacturing, specialty, performance, chemicals, that’s number one. Providing sustainable solutions by reducing the water content and the time for the processing. That’s number two. And number three is providing technical services and the last mile delivery. Now last mile delivery is very, very important in, in this business or at least in the North American side because service is something which is very, very important for Americans and the kind of customers, I mean they are global giants.<\/p>\n

Everything what they look forward from the customer, from the vendors is that how much is the, what kind of support is there, what kind of, you know, confirmation on the stocks and inventories and everything and deliveries. So that’s also one part of it. So this is something which CCT has been doing and so there has been a lot of modifications in the decisions making in CCT after our involvement and like there has been increase, dramatic increase in the R D expenditures, R and D marketing team members have increased.<\/p>\n

A lot of machinery and production activities have been shaping up. So all in all we have been able to lead this company in a very different, you know, into a different level already and I think that’s helping a lot and we can see what’s the kind of positiveness in the customers and the delight which has come to CCT now.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, thank you sir, all the best.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Thank you so much Mr. Karan.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Vinayak Natkami from Hathaway Investments Private Limited. Please go ahead.<\/p>\n

Vinay N<\/strong><\/p>\n

Thanks for the opportunity and gave you brilliant set of numbers. Nice to see growth coming back after two years of little. I just have, I mean I can, I can touch base with your team data for the financials. I just wanted a couple of things. In CCT do we follow the same logic that you used to follow in FCL which is tailor made products for the customers or so that you know there is more customer stickiness going forward?<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Absolutely. That’s befitting our model itself. So it’s exactly the same thing. Everything is tailor made, everything is designed as for the customer. In fact to be more precise, you know, like in India we don’t have too much of weather fluctuations whereas in us we have to, you know, tweak the products accordingly. To have working it in minus 20 degrees with snowfall at the same time. Sometimes it is 40 degrees or 45 degrees centigrade also. So in fact the challenge, there is more, there is more customization required there which we have been proving ourselves very well.<\/p>\n

Vinay N<\/strong><\/p>\n

Was that being done by Kurdechem even earlier or was it added after you joined them?<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

No, it is already there. I mean so basically, let me tell you what, what so, so basically why this? So we have actually, you know, invested for growth capital, let’s put it like that. So our involvement was for growth capital. There were lot of advantages which CCT saw in Finotex. The technologies, the kind of way the Finotex has been evolving from in the last 15 years and especially in the last 6 years what finitex has been, the way the operational efficiencies has been picking up so broadly. CCT could see that and that’s why we were there for joining hands and taking it to the next level.<\/p>\n

But CCT had these kinds of Strategies in place and but there was something which was required together and this is something which we have achieved now and things are looking much more positive going forward.<\/p>\n

Vinay N<\/strong><\/p>\n

Great. I think it’s a great acquisition. Just one last question for you. When you said 18 to 20 EBITDA blended EBITDA going forward, would that be in F27 or would you look at that as F28?<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

We are trying our best to make it as soon as, you know, as quickly as possible. But I think this can be reflecting you in this financial year. So I won’t be surprised rather on that.<\/p>\n

Vinay N<\/strong><\/p>\n

Okay, thank you very much. All the best.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Thank you so much. Thank you, Mr. Vinay.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Nanon Shah from NBS Brokerage. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

First of all, my heartiest congratulations for achieving such brilliant performance in the light, in the midst of such uncertain world order. It is an excellent performance. Some of the questions which comes to my mind is that looking to the future one that what is the kind of top line which you would like to sort of project in next three years? Because after this acquisition it appears that, you know, it has become a game changer for the company. So what is the kind of top line you are expecting from here?<\/p>\n

And as you rightly said, that Q4 is establishing, you know, the benchmark for the future. So in the light of that, I would say broadly we come to the number that your top line could be in the vicinity of about 1200, 1250 crores. And bottom line could be something like 175, 185 crores. So this is my second question and my third question is are we going to have any more consideration for acquisitions or we are going to first, I mean, take the full advantage of the, you know, this acquisition which we already made and then only consider the next acquisition if at all.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Thank you so much, Mr. Nalin Shah. So okay, so taking up your first question, what I mentioned was the quarter four numbers are the base numbers. It’s not reflecting that this is all about it and this is just a base which has been set. The way the things are going on, even in the current scenario, the kind of demand coming from the customers, I, I am very sure that there is a lot of things which are going to happen even in this year.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Excellent.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Going forward, I think with Finotex Organic growth, the kind of last year we had a new plant investment in India which is in Amarnath. Plus we have the, you know, the CCT now with us. I don’t Feel a challenge that it can, it can you know go another three, four times in the next four years or something like that. So this is something which is within the range<\/p>\n

Unidentified Participant<\/strong><\/p>\n

And<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

I think we will be looking at it and also keeping in mind that Ebitdas are going to be much better than where it is step by step. So eventually gradually things will get much better on that num. Things again coming to a good touch which you mentioned about further plan with the inorganic acquisitions. So as you can see Finotex is very disciplined in deployment of cash and in the, in the last 15 years this is the second acquisition. The first one was done when the IPO came in 2011. That was biotech which is a European producing specialty chemical company.<\/p>\n

Malaysia which was where Finotex acquired 72% in 2011 after the IPO. So this was the second one. So anything which comes and it’s, you know we are, we have a very good, we look at synergies number one either in terms of the markets or either in terms of the chemistry. If it’s fitting our, you know the chemistries which we are doing like polymerization, estrification, sulfonation, phosphonation or anything, something like that. We are always looking at those angles. There is a lot of excitement coming in the semiconductors businesses, database, water treatment, chemicals.<\/p>\n

In US this is something which is already on the cards. We have more professionals. In fact Mr. Yusuf has also been introduced.<\/p>\n

Vinay N<\/strong><\/p>\n

He’s<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

The M and A business head and also taking care of the investor relationship. So there is a lot of action going on for tire joint ventures and any kind of stake sales which is happening around. So if I can give you something our focus area will more be more on us and, and maybe Middle east also on that line. But US is something which is definitely, I mean one cannot go wrong in us. That’s the way it is because the demands are unimaginable. So in fact to touch something more I spend most of my, let’s say almost every, every month at least for 10 days or 15 days.<\/p>\n

I’m more or less in US<\/p>\n

Arindam Choudhuri<\/strong><\/p>\n

And there’s a<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Lot of action going on. There is a lot of new manpower and on the business front being you know added on the team members onboarding a lot of actions are going on that line right now we are looking at certain more opportunities and so there’s a good cash, you know a cash on bank at on in finer tics is more than 300 crores even as we speak<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

After doing<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

The acquisition and you know things like this. So and also after doing the introductory, you know, the, the kind of investment we have done in the inventories and the business scale up and the machines and other things. So this is where we are today. I think any rate opportunity similar to CCT is always welcomed. We are looking at certain things as, and when we proceed ahead we will always be as usual updating all the investors and participants via the stock exchange medium. And so it’s in the mind.<\/p>\n

So this is. So our focus is how do we organically grow Finotex biotechs, ect. And also look at any inorganic opportunities, whichever comes on the way.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Excellent sir, congratulations once again. And my last question, can we just take it as four times? You said it could be three to four times from the present. So can we assume, I mean very, very reasonably Speaking that in three to four years time we could be a 3,000 crore top line company from here.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Oh yeah. That if the way the things are going on I will not be at all surprised if, if we don’t, I mean touching that numbers will, I mean I will be rather surprised if we don’t touch it. So excellent, excellent.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Sir, once again congratulations, fantastic and best wishes to the entire team. Thank you.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Thank you Mr. Shah.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Anupam Agarwal from Lucky Investments. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yes, hi. Thank you so for taking my question and good morning and congratulations the entire team for the great set of numbers. My first question sir would be at group level on the raw material side, what kind of raw material supply chain tightness are you looking at? That is one. And secondly also what level of what percentage of your contracts are spot and what are contracted for basically and what timelines are those contracts for?<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

So by and large in, in the businesses of Finotex or CCT it’s not based on contracts, it’s not government orders where you have to follow the kind of, you know, the volume commitments or the pricings. And again there’s a tender, there’s nothing as such. Ok, so it’s more driven in the similar lines like the way Finotex has been doing. We keep inventory in hand for a month or two. As soon as there is an increase in the prices we start talking to our customers to pass on the increase. This is something which we have been doing in CCT also and in Finotex also.<\/p>\n

That’s going very well. The only thing is that, yes, as we all experience some kind of logistic issues globally and the freight issue, you know, the freight cost and the container Shortages already, which has been happening in, in almost all the sectors. So this is something which we have navigated. I think the worst is behind us. I think the last quarter and also the April month was something which was a bit of a challenge to realign, readjust our inventory levels, readjust our pricing. So there was a lot of efforts, a lot of time taken and the team has done a very great job.<\/p>\n

And you win the trust of the customers as well as pass on the cost to the consumers. So this is what has been done, making sure the margins are maintained. So that is something what we always love to do.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

So on a basket level, what how much raw material price increase have you seen in the fourth quarter and let’s say even in April and how much have you been able to pass on?<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

So I mean it’s a very generalized question actually it’s very difficult to answer numerically. There is a lot of things which moves on and sometimes what happens if, I mean from a chemistry point of view, I mean, how do I put it? Like if, I mean if I can give you an analogy like, you know, if the price of wheat is going up then we can use Meta for the, for the food. So the consumers readjust it as per the chemistry availability. Because these are performance chemicals. Let me tell you our cost or our ingredients of the chemicals is not the whole perspective of the consumers.<\/p>\n

What is important is either are we able to give the right performance, is it giving them the right value and solution? That’s all it counts. And so the customers are also very much willing in such times. They also understand that things are changing. They also need to run their show and they know that I know tech. CCT and Biotech are the companies which can be relied upon and it’s already the brand which is shaping up in a very stronger way. And I think so we are making sure that the customers are delighted to work more with us.<\/p>\n

They are also absorbing the increase, we keep passing on the increase and by launch our team has done a very good job. That’s what I can say.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Understood. Last question. What has been the plant level utilization at Amber Nath and at cct?<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

So I mean it’s a very to deeper question but generally I can tell you that we, we had a good volume increase also due to the CCT addition. So overall we are at 60, 62% broadly at the moment on the quarter four numbers and that’s also getting in the quarter one. I can see again that that has been going up. So yes, that is something which is growing and Even in the Amarnath one things are getting better than where it is before because textile has also picked up. The volume has gone up and the volume of textiles has also gone up.<\/p>\n

By I, I was just checking the liters is. I think it’s around 10% or something like that has gone up in the, in the volume, in the volume basis. So. So yeah that’s something which is helping us to, to go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Perfect. Perfect. Thank you so much for answering my questions and wish you all the best for the upcoming quarters. Thank you.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

So just to, just to complete that part, I just got the numbers in front of me. So it’s 15% volume has gone up in textile. Just to answer that, complete that question over there. Okay.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Thank you so much.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Thank you so much.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Rohit Cherry from Progressive Shares. Please go ahead.<\/p>\n

Vinay N<\/strong><\/p>\n

Hi team. Many congrats to Aarti for receiving the signation from the honorable president of India.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Thank you. Thank you very much. Mr. Wait.<\/p>\n

Vinay N<\/strong><\/p>\n

Yes Sanjay. I’ve got a few questions. First one, is there any sort of seasonality that we see in the boot camp business?<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Oh not at all. Actually this is something which you know there is no seasonality in this business. It’s like drilling and completion. Production keeps going on and on. Us is the best place to be for those segments. I mean there is no seasonality on this business.<\/p>\n

Vinay N<\/strong><\/p>\n

So on a steady state then crude can can give us somewhere around 600, 650 crore kind of a top line, right?<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Oh yeah, easily. There’s no doubt about it.<\/p>\n

Vinay N<\/strong><\/p>\n

Okay, can you take us through this development or<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Maybe this expansion that you’re looking at Midlands?<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

Oh, I mean yeah. So so basically we are adding more capacities there. There has been addition in the R D team members. Lot of many PhDs have joined recently. So a lot of resources, machines, manpower, everything has been increasing. And to maintain these kinds of growth rates and readjust the resources we need, you know we need those kind of investments and that’s shaping up very well.<\/p>\n

Vinay N<\/strong><\/p>\n

Any number you’d like to put that after two years or so what sort of revenue can come from this? Things are,<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

You know Mr. Roy, things are getting so, so quickly changing, growing positively. Whatever I tell you today, I don’t know I can hold it to after one month or not. But you know what we are trying to do right now not to look two years, three years because every quarter, every half year we feel that oh this is something new which has happened. So you know, so we are trying to look at the Small the initial steps and rather than only look at the. In up to two years or three years. Because right now also there has been a big traction in the customers demand.<\/p>\n

We are, we are trying our best to capture as much as opportunities we can right now<\/p>\n

Vinay N<\/strong><\/p>\n

Which will require<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

More expansion. So expansion is ongoing. So we cannot plan now for two years because already whatever we are planning now is for the current quarters and the next quarter. That’s it. So that’s the kind of traction which is we are seeing<\/p>\n

Vinay N<\/strong><\/p>\n

Are there any sort of chemistries which are difficult for the competitors or somebody to come up or any technical barriers which are there which is protecting the business right now for us from cct.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

I mean it’s a, you know there are lot many factors. It’s not only production, it’s technical services. It’s the last mile deliveries is the kind of customer profile we have. These are the companies where it takes two years also to introduce and to get the right people in the company. So, so having these kinds of volumes with this company itself means a lot. And you know the companies rather even if I talk to you, even if you talk about the wallet share I, I can, I would like to make this statement here.<\/p>\n

The wallet share increase with the kind of customers we have right now, forget about adding more customers can easily go to 5x. So rather even if you don’t get any new customers, I’m just saying hypothetically<\/p>\n

Unidentified Participant<\/strong><\/p>\n

With<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

The same customers we have a potential of going 5x because they are giant companies. I mean they are all like 50 billion, 30 billion, like Shell and Shell and Exxon if I’m not wrong. They’re like 500 billion, half a trillion dollar companies or something like this. So I’m just trying to say the potential there is enormous and they need companies like us, you know, they need companies like us to serve them. It’s not only producing this last mile deliveries. It’s about doing the technical services.<\/p>\n

There is a lot of things involved. It’s not just. It’s on the China kind of businesses where we are, you know it’s. It’s more customization, tailor made solutions and also there’s a lot of. Like I said, the weather is also very important in North America. It’s not the, you know, everyone can digest that. Just to tell you, you know just an example, it had a snowfall in last January and the snowfall was predicted five days, six days, seven days before all the oil companies had to shut down even the pipelines.<\/p>\n

Because if there is a snowfall all the pipelines will also get Choked. So there is a lot of things where, you know, weather is also playing. So it’s not that the Chinese can come down there or Indians can come down there and, and capture the market. This doesn’t work like that. So this is just to give you an example about it. And yeah, so<\/p>\n

Vinay N<\/strong><\/p>\n

My last question, we see there is a small shift that is happening in the business mix. But currently if you can tell us that what is the business mix for maybe textile, oil field and maybe after two years or three years, do you think that it would be that the oil fields will take over the textile business?<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

So let me tell you something. From the value revenue point of view, textiles has picked up even in the last quarter. Okay.<\/p>\n

Vinay N<\/strong><\/p>\n

However,<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

However the, the percentage on composition of textiles contribution to total revenue has gone down to 36% or 35%. This is not because textile, like I said, textile has still grown up but the other industries for us has grown much higher. So that’s something which has, you know, so wherever we are today is growing. There is no doubt about it. However, with the, with the addition of CCT and furthermore technology transfer, some of the technologies we transferred to CCT as well to produce and service the customers there.<\/p>\n

And that has also helped us to have more businesses in our, in the newly acquired US company groups. So that’s the point. So this is something which is going on and at the moment Almost oil is 60% oil. Specialty chemicals is contributing to almost 55 to 60% in terms of volume and revenue for the quarter four.<\/p>\n

Vinay N<\/strong><\/p>\n

Okay, Sanjay, thank you for answering my question. All the very best. Thank you Mr. Roy, thanks a lot.<\/p>\n

Operator<\/strong><\/p>\n

Thank you very much ladies and gentlemen. We will take that as a last question. I now hand the conference back to the management for the closing comments.<\/p>\n

Sanjay Tibrewala<\/strong><\/p>\n

So thank you everyone. Thank you participants for joining in. I would like to thank all of you and if there is anything you want, some further insight or information, our team will be very much delighted to reply to you as soon as possible. You can contact our investor relation team. The email IDs are with you or you can contact Mr. Yusuf contactor or you can contact the Ad Factors team and we will try our best to explain you the developments. And going forward you can expect a more stronger days going forward.<\/p>\n

Thank you very much. Have a good week ahead. Thank you.<\/p>\n

Aarti Jhunjhunwala<\/strong><\/p>\n

Thank you everyone. Thanks a lot.<\/p>\n

Operator<\/strong><\/p>\n

Thank you members of the management on behalf of Finotex Chemicals Ltd. That concludes this conference. Thank you all for joining us and you may now disconnect your lines. Thank you.<\/p>\n","protected":false},"excerpt":{"rendered":"

Note: This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon. Fineotex Chemical Limited (NSE: FCL) Q4 2026 Earnings Call dated May. 18, 2026 Corporate Participants: Aarti Jhunjhunwala \u2014 Head – International Marketing Arindam Choudhuri \u2014 Chief Executive Officer Unidentified Speaker Sanjay Tibrewala \u2014 Chief Financial […]<\/p>\n","protected":false},"author":2377,"featured_media":147581,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6349],"tags":[10169,9175,9104,9092,14492,10089],"class_list":["post-183289","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transcripts","tag-earnings","tag-earnings-call","tag-earnings-conference","tag-earnings-transcripts","tag-financial-results","tag-quarterly-earnings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":126492,"url":"https:\/\/alphastreet.com\/india\/fineotex-chemical-limited-q3-fy22-earnings-conference-call-insights\/","url_meta":{"origin":183289,"position":0},"title":"Fineotex Chemical Limited Q3 FY22 Earnings Conference Call Insights","author":"Praveen","date":"January 20, 2022","format":false,"excerpt":"https:\/\/www.youtube.com\/watch?v=vcmsAsGgEh8 Key highlights from Fineotex Chemical Limited (FCL) Q3 FY22 Earnings Concall Management Update: FCL said the company\u2019s prime focus going forward will be to expand its product portfolio and consequently increase its wallet share and have a more diversified product range. Q&A Highlights: Sathish Kumar asked if the company\u2026","rel":"","context":"In "Concall Highlights"","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":181067,"url":"https:\/\/alphastreet.com\/india\/fineotex-chemical-limited-reports-46-revenue-growth-in-q3-following-us-acquisition\/","url_meta":{"origin":183289,"position":1},"title":"Fineotex Chemical Limited Reports 46% Revenue Growth in Q3 Following US Acquisition","author":"Staff Correspondent","date":"February 16, 2026","format":false,"excerpt":"Mumbai-based specialty chemical producer expands international footprint through 53.33% stake in croresudeChem Technologies, while reporting improved quarterly profit despite margin compression. Fineotex Chemical Limited (NSE: FCL) reported a 45.9% year-on-year increase in consolidated revenue from operations for the third quarter ended December 31, 2025, reaching \u20b9183.71 crores. The significant growth\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":109778,"url":"https:\/\/alphastreet.com\/india\/infosys-limited-infy-q4-2021-earnings-call\/","url_meta":{"origin":183289,"position":2},"title":"Infosys Limited (INFY) Q4 2021 Earnings Call","author":"Sahil Anand","date":"April 21, 2021","format":false,"excerpt":"Infosys Limited (NYSE: INFY) Q4 2021 earnings call dated\u00a0Apr. 14, 2021 Corporate Participants: Sandeep Mahindroo\u00a0\u2014\u00a0Vice President, Financial Controller & Head \u2013 Investor Relations Salil Parekh\u00a0\u2014\u00a0Chief Executive Officer and Managing Director Pravin Rao\u00a0\u2014\u00a0Chief Operating Officer and Whole-time Director Nilanjan Roy\u00a0\u2014\u00a0Chief Financial Officer Analysts: Ankur Rudra\u00a0\u2014\u00a0JPMorgan \u2014 Analyst Diviya Nagarajan\u00a0\u2014\u00a0UBS \u2014 Analyst\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":151334,"url":"https:\/\/alphastreet.com\/india\/fineotex-chemical-ltd-q1fy24-30-rise-in-profits\/","url_meta":{"origin":183289,"position":3},"title":"Fineotex Chemical Ltd Q1FY24; 30% rise in Profits","author":"Hardik Bhandare","date":"August 4, 2023","format":false,"excerpt":"Incorporated in 1979, Fineotex Chemicals Ltd is engaged in the business of manufacturing auxiliaries and specialty chemicals for textiles, construction, water treatment, fertilizer, leather, and paint industries Financial Results: Fineotex Chemical Ltd reported Revenues for Q1FY24 of \u20b9132.00 Crores down from \u20b9136.00 Crore year on year, a fall of 2.94%.\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-220.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-220.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-220.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-220.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-220.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-220.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":162469,"url":"https:\/\/alphastreet.com\/india\/fineotex-chemical-ltd-q4fy24-15-rise-in-profits\/","url_meta":{"origin":183289,"position":4},"title":"Fineotex Chemical Ltd Q4FY24; 15% rise in Profits","author":"Divyansh_Kasana","date":"June 25, 2024","format":false,"excerpt":"Incorporated in 1979, Fineotex Chemicals Ltd is engaged in the business of manufacturing auxiliaries and specialty chemicals for textiles, construction, water treatment, fertilizer, leather, and paint industries Financial Results: Fineotex Chemical Ltd reported Revenues for Q4FY24 of \u20b9153.00 Crores up from \u20b9138.00 Crore year on year, a rise of 10.87%.\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/06\/image-208.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/06\/image-208.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/06\/image-208.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/06\/image-208.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/06\/image-208.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/06\/image-208.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":160007,"url":"https:\/\/alphastreet.com\/india\/fineotex-chemical-ltd-q3fy24-50-rise-in-profits\/","url_meta":{"origin":183289,"position":5},"title":"Fineotex Chemical Ltd Q3FY24; 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