Fineotex Chemical Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Fineotex Chemical Ltd filed with BSE on 21 May 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Fineotex Chemical reported Q4 FY26 revenue from operations grew 162% year-on-year to Rs 314 crore and profit after tax grew 118% to Rs 44 crore, driven by underlying demand across its three business segments and contribution from the newly acquired CrudeChem Technologies group. International revenue rose to 70% of the total, ROIC was 31%, and management said the working capital cycle stood at 79 days. Management discussed plans to expand CrudeChem's manufacturing capacity in the US and outlined revenue and margin expectations for the combined group going forward.
2 statements from this call are not shown because their supporting quotes could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Revenue from operations: INR314 crores (Q4 FY26)
p. 5
“quarter four financial year '26, our revenue from operations grew by 162% to INR314 crores, compared to the last year quarter”
Sanjay Tibrewala, page 5 of the filed PDF · View the filing
Profit after tax: INR44 crores (Q4 FY26)
p. 5
“Our profit after tax for the quarter grew by 118% to INR44 crores, compared to INR20 crores in quarter four financial year '25, reflecting both strong operational performance and improving business mix.”
Sanjay Tibrewala, page 5 of the filed PDF · View the filing
International revenue contribution: 70% (Q4 FY26)
p. 5
“our international revenue contribution increased significantly to 70% in quarter four financial year '26, demonstrating the growing scale, traction and the growing global diversification of our business”
Sanjay Tibrewala, page 5 of the filed PDF · View the filing
ROIC: 31% (Q4 FY26)
p. 5
“the company continues to maintain healthy financial metrics with ROIC at 31%, reflecting efficient capital allocation and disciplined execution”
Sanjay Tibrewala, page 5 of the filed PDF · View the filing
Working capital cycle: 79 days (Q4 FY26)
p. 5
“our working capital cycle remains healthy at 79 days despite the significant scale-up in international operations and business integration activities”
Sanjay Tibrewala, page 5 of the filed PDF · View the filing
Indian textile export growth: 2.1% year-on-year to 3.16 trillion (FY26)
p. 4
“Indian textile export grew 2.1% year-on-year in FY '26 to 3.16 trillion.”
Arindam Choudhuri, page 4 of the filed PDF · View the filing
CrudeChem quarterly revenue: INR165 crores (Q4 FY26)
p. 12
“It's almost -- I'll give you the details. It's more or less INR170 crores or something like this on the -- INR165 crores.”
Sanjay Tibrewala, page 12 of the filed PDF · View the filing
Plant utilization: 60%, 62% (Q4 FY26)
p. 18
“overall, we are at 60%, 62% broadly at the moment on the quarter 4 numbers”
Sanjay Tibrewala, page 18 of the filed PDF · View the filing
Textile volume growth: 15% (Q4 FY26)
p. 18
“it's 15% volume has gone up in textile, just to answer that -- complete that question over there, okay?”
Sanjay Tibrewala, page 18 of the filed PDF · View the filing
Oil specialty chemicals share of revenue: 55% to 60% (Q4 FY26)
p. 20
“Oil Specialty Chemicals is contributing to almost 55% to 60% in terms of value and revenue for the quarter 4.”
Sanjay Tibrewala, page 20 of the filed PDF · View the filing
Cash on bank: more than INR300 crores
p. 16
“there is a good cash -- cash on bank in Fineotex is more than INR300 crores even as we speak after doing the acquisition and things like this”
Sanjay Tibrewala, page 16 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
CrudeChem revenue — $200 million · before 2028
stated conditionally by Sanjay Tibrewala
p. 7
“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 2028.”
Sanjay Tibrewala, page 7 of the filed PDF · View the filing
CrudeChem EBITDA margin — 15%
stated as an aspiration by Sanjay Tibrewala
p. 6
“So going forward, I think comfortably, we should be at EBITDA of 15% more or less.”
Sanjay Tibrewala, page 6 of the filed PDF · View the filing
Blended EBITDA margin — 18% to 20%
stated as an aspiration by Sanjay Tibrewala
p. 10
“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.”
Sanjay Tibrewala, page 10 of the filed PDF · View the filing
Blended EBITDA margin timing — 18% to 20% · FY27
stated as an aspiration by Sanjay Tibrewala
p. 15
“We are trying our best to make it as soon as – as quickly as possible, but I think this can be reflecting even in this financial year.”
Sanjay Tibrewala, page 15 of the filed PDF · View the filing
CCT stake increase — further 25% · January '28
stated firmly by Sanjay Tibrewala
p. 11
“we have already signed with the founders that further 25% has to be sold by them to Finotech's in January '28.”
Sanjay Tibrewala, page 11 of the filed PDF · View the filing
Overall topline growth — 3x to 4x from present · next 4 years
stated as an aspiration by Sanjay Tibrewala
p. 15
“I don't feel a challenge that it can go another 3, 4 times in the next 4 years or something like that.”
Sanjay Tibrewala, page 15 of the filed PDF · View the filing
Topline milestone — INR3,000 crores · 3 to 4 years
stated as an aspiration by Sanjay Tibrewala
p. 17
“I would not be at all surprised if we don't -- I mean, touching that number will -- I mean, I will be rather surprised if we don't touch it.”
Sanjay Tibrewala, page 17 of the filed PDF · View the filing
CrudeChem steady-state revenue — INR600 crores, INR650 crores
stated as an aspiration by Sanjay Tibrewala
p. 19
“Yes, easily. There's no doubt about it.”
Sanjay Tibrewala, page 19 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said the current run-rate is $90-100 million and expressed confidence in reaching $200 million, targeting around 15% EBITDA margin.
Answered by Sanjay Tibrewala
Asked by Amit Mehendale: Are we expecting $200 million of revenue in FY '28 from CCT, and what EBITDA margin?
p. 6
“if you annualize it, it's already touching almost $90 million to $100 million and the kind of traction, which has been 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 a $200 million business in the coming times.”
Sanjay Tibrewala, page 6 of the filed PDF · View the filing
Management declined to give a specific forward number, saying quarter four was the new base and avoided detailed forward-looking statements.
Answered by Sanjay Tibrewala
Asked by Darshil Jhaveri: What revenue guidance can be given for FY '27 and FY '28 given the $200 million CCT target?
p. 9
“So, I would not be able to share any forward-looking statements here. But in general, this is what is the trend, and we are on the right pitch.”
Sanjay Tibrewala, page 9 of the filed PDF · View the filing
Management confirmed a planned increase in stake per an agreement with founders and reiterated the blended EBITDA target trajectory.
Answered by Sanjay Tibrewala
Asked by Keshv Garg: Will EBITDA margin rise to 18-20% in FY '27 itself or gradually, and is there a plan to increase the CCT stake?
p. 11
“we have already signed with the founders that further 25% has to be sold by them to Finotech's in January '28.”
Sanjay Tibrewala, page 11 of the filed PDF · View the filing
Management explained the negative OCF reflects a one-time accounting deduction for acquisition investment and that underlying cash flow from operations is positive.
Answered by Sanjay Tibrewala
Asked by Karan Kamdar: On working capital and negative operating cash flow, is this related to the acquisition?
p. 13
“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.”
Sanjay Tibrewala, page 13 of the filed PDF · View the filing
Management said it is difficult to quantify but that cost increases are generally passed on to customers who value performance over ingredient cost.
Answered by Sanjay Tibrewala
Asked by Anupam Agarwal: What raw material price increases were seen in Q4 and April, and how much has been passed on to customers?
p. 18
“They also need to run their show and they know that Fineotex, CCT and Biotex are the companies which can be relied upon, and it's already the brand which is shaping up in a very stronger way.”
Sanjay Tibrewala, page 18 of the filed PDF · View the filing
Management said there is no seasonality in the drilling and completion business and confirmed a steady-state revenue estimate of INR600-650 crore.
Answered by Sanjay Tibrewala
Asked by Rohit Ohri: Is there seasonality in the CrudeChem business, and what steady-state revenue could it deliver?
p. 19
“Not at all, actually. This is something which there is no seasonality in this business. It's like drilling and completion, production keeps going on and on.”
Sanjay Tibrewala, page 19 of the filed PDF · View the filing
Management said oil specialty chemicals now contribute 55-60% of revenue versus textile's 35-36%, even as textile revenue itself has grown.
Answered by Sanjay Tibrewala
Asked by Rohit Ohri: What is the current business mix between textile and oilfield chemicals, and will oilfield overtake textile?
p. 20
“at the moment, almost oil is 60%. Oil Specialty Chemicals is contributing to almost 55% to 60% in terms of value and revenue for the quarter 4.”
Sanjay Tibrewala, page 20 of the filed PDF · View the filing
Risks flagged
Weather-related disruptions to oilfield operations in North America
p. 20
“it had a snowfall in last January and the snowfall was predicted 5 days, 6 days, 7 days before. All the oil companies had to shut down even the pipelines, because if there is a snowfall, all the pipelines will also get choked.”
Sanjay Tibrewala, page 20 of the filed PDF · View the filing
Difficult prior year for textile industry due to sanctions and geopolitical situations
p. 12
“the last year, financial year '26 was 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 U.S.”
Sanjay Tibrewala, page 12 of the filed PDF · View the filing
Global freight rate and logistics volatility affecting margins
p. 10
“there has been a massive change in the global freight rates, logistics, everything is getting moving around here and there.”
Sanjay Tibrewala, page 10 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.