Quarterly & Annual Financial Results

Fine Organic Industries Reports Strong Q4FY26 Performance; PAT Rises 21% YoY to ₹117.5 Crore

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Fine Organic Industries Limited announced its audited standalone and consolidated financial results for Q4 and FY26. The company reported consolidated revenue of ₹2,365.8 crore for FY26 with stable demand trends, improving domestic business performance, and strong quarterly profitability growth. Q4FY26 PAT increased 21% YoY to ₹117.5 crore, while the company continued aggressive international expansion across the US, UAE, Thailand, and Malaysia.

PRICE-SENSITIVE TRIGGER

Event: Announcement of Audited Q4 & FY26 Financial Results and Strategic Expansion Updates

Type: Quarterly & Annual Financial Results

Impact: Positive

Immediate Effect: The announcement reflects improved quarterly profitability, healthy export demand, stable margins, and continued global expansion initiatives, strengthening long-term growth visibility for the company.

Key Metrics:

Q4FY26 Revenue from Operations: ₹625.3 crore
Q4FY25 Revenue from Operations: ₹606.8 crore
Q4 Revenue Growth YoY: 3.1%
Q4 Revenue Growth QoQ: 12.7%
FY26 Revenue from Operations: ₹2,365.8 crore
FY25 Revenue from Operations: ₹2,269.1 crore
FY26 Revenue Growth YoY: 4.3%
Q4FY26 EBITDA: ₹129.8 crore
Q4FY25 EBITDA: ₹119.6 crore
Q4 EBITDA Growth YoY: 8.6%
Q4 EBITDA Growth QoQ: 37.6%
FY26 EBITDA: ₹483.0 crore
FY25 EBITDA: ₹512.9 crore
FY26 EBITDA Growth YoY: -5.8%
Q4FY26 EBITDA Margin: 20.8%
Q4FY25 EBITDA Margin: 19.7%
FY26 EBITDA Margin: 20.4%
FY25 EBITDA Margin: 22.6%
Q4FY26 PAT: ₹117.5 crore
Q4FY25 PAT: ₹97.1 crore
Q4 PAT Growth YoY: 21.0%
Q4 PAT Growth QoQ: 58.9%
FY26 PAT: ₹417.1 crore
FY25 PAT: ₹410.5 crore
FY26 PAT Growth YoY: 1.6%
Q4FY26 PAT Margin: 18.8%
FY26 PAT Margin: 17.6%
Q4FY26 EPS: ₹38.32
Q4FY25 EPS: ₹31.68
FY26 EPS: ₹136.03
FY25 EPS: ₹133.89
Insurance Claim Included in FY26 PAT: ₹6.98 crore
Exports Contribution to Revenue: ~55%
Domestic Revenue Contribution: ~45%
US Subsidiary Investment: USD 1.12 million (~₹9.6 crore)
Land Acquired in South Carolina: ~160 acres
Preference Shares Issued in SEZ Subsidiary: ₹65 crore
Thailand JV Equity Infusion: THB 22.50 million (~₹6.17 crore)
UAE Subsidiary Equity Infusion: AED 200,000 (~₹49.48 lakh)
Malaysia Acquisition Proposal Size: ~RM 34.21 million (~₹83 crore)
Incremental Gratuity Provision due to New Labour Codes: ₹7.11 crore

Highlight Metric:

Q4FY26 PAT surged 21% YoY to ₹117.5 crore while EBITDA margin improved to 20.8%, supported by stronger domestic demand and improved operational momentum.

What Happened ?

Fine Organic Industries Limited announced its audited consolidated financial results for the quarter and financial year ended March 31, 2026. The company delivered stable annual revenue growth and strong quarterly profitability improvement despite higher raw material prices and elevated freight costs during Q4FY26.

The company reported FY26 consolidated revenue from operations of ₹2,365.8 crore, up 4.3% YoY, while Q4FY26 PAT increased sharply by 21% YoY to ₹117.5 crore. Export markets continued to contribute around 55% of revenue, while domestic demand improved during the year.

Fine Organic also accelerated its global expansion strategy during FY26 through multiple overseas investments. The company established Fine Organics Americas LLC in the United States and acquired approximately 160 acres of land in South Carolina for setting up a manufacturing facility. The company also infused capital into subsidiaries and joint ventures in Thailand, UAE, and SEZ entities.

Additionally, the Board approved a proposal to acquire up to 80% stake in Malaysia-based Oleofine Organics Sdn. Bhd., which operates in the food additives business, further strengthening Fine Organic’s international growth strategy.

Key Details

Operational Performance, Demand Trends & Global Expansion:

Fine Organic remains India’s largest manufacturer of specialty additives with over 600 products across food, polymers, cosmetics, coatings, feeds, and specialty industries.
Q4FY26 consolidated revenue rose to ₹625.3 crore.
FY26 consolidated revenue increased to ₹2,365.8 crore.
Q4FY26 EBITDA increased to ₹129.8 crore with EBITDA margin improving to 20.8%.
Q4FY26 PAT increased strongly to ₹117.5 crore.
Export markets contributed approximately 55% of revenue.
Domestic business contributed around 45% of revenue.
Domestic demand improved during FY26 while export demand remained stable.
Raw material prices increased during FY26 compared to FY25.
Freight costs increased during Q4FY26 due to the West Asia geopolitical crisis.
Fine Organics Americas LLC was incorporated in the United States during Q1FY26.
Around 160 acres of land was acquired in Jonesville, South Carolina for a proposed manufacturing facility.
Equity investment of approximately ₹9.6 crore was infused into the US subsidiary.
Additional preference shares worth ₹65 crore were issued in Fine Organic Industries (SEZ) Private Limited.
Equity of around ₹6.17 crore was infused into the Thailand joint venture entity.
Fine Organics FZE was incorporated in Dubai, UAE to improve GCC market access and supply-chain efficiency.
The company infused approximately ₹49.48 lakh into the UAE subsidiary during Q4FY26.
The Board approved acquisition of up to 80% stake in Oleofine Organics Sdn. Bhd., Malaysia.
The proposed Malaysia acquisition size is approximately ₹83 crore.
Fine Organic created an incremental gratuity provision of ₹7.11 crore due to implementation of new labour codes effective November 2025.

Note:

Management indicated that overseas expansion initiatives are aimed at strengthening manufacturing capabilities, improving global supply-chain presence, and expanding the company’s specialty food additive business internationally.

Risk Analysis

Summary:

While Fine Organic delivered stable operational performance, the company remains exposed to volatility in raw material prices, freight costs, global geopolitical disruptions, and execution risks related to overseas expansions and acquisitions.

Key Risks:

Raw material prices increased during FY26.
Freight costs witnessed pressure during Q4FY26 due to the West Asia crisis.
Overseas expansion projects may face execution and regulatory risks.
Proposed Malaysia acquisition remains subject to transaction completion risks.
Export-oriented revenues may be affected by global demand slowdown or geopolitical disruptions.
Implementation of new labour codes increased employee-related provisions.

Worst Case Scenario:

If global demand weakens significantly or raw material and freight costs remain elevated for a prolonged period, the company’s operating margins and profitability could come under pressure despite stable revenue growth.

Risk Level: Medium

Company Commentary

The company stated that export markets remained stable during FY26.
Domestic demand performance improved during the financial year.
Management highlighted its focus on strengthening international manufacturing and distribution capabilities.
Fine Organic emphasized expansion into the US, UAE, Thailand, and Malaysia markets as part of long-term growth strategy.
The company reiterated its commitment to improving global supply-chain efficiency and expanding specialty additive product offerings.
Management confirmed that the Malaysia acquisition aligns with the company’s strategic growth roadmap in food additives.

Official Exchange Filing: Fine Organic Industries Limited