In this article, we will talk about Fine Organic share. Fine Organic is a leading producer of special additives for food, paints, plastics, inks, rubbers, cosmetics, lunes, coatings, and many other especially special applications. Reportedly, Fine Organic share cost decreased about 3% in early trade on Tuesday, 31 October 2023 on the BSE, a day after the firm reported its September quarter scorecard. Since the news has come on the internet it has gone viral on social networking sites. Now many people are super curious to know about the whole information. Here we have more information about the news and we will share it with you in this article.
The stock opened at 4,485.05 against the last close of 4,591.05 and soon dropped 2.85% to the level of 4,460. Around 9:20 a.m., the stock sold 2.31% lower at 4,485. On Monday, 30 October 2023, Fine Organic Industries, said a 49% year-on-year fall in its consolidated net profit at 103.37 crore for Q2FY24. The company’s net earnings in the same quarter previous year were 202.63 crore. Revenue from operations for the quarter stood at 540,49 crore, down 41.2% YoY from 919.17 crore in the same quarter the previous year. Scroll down to the next page for more information about the news.
According to the report, Fine Organic share cost has performed poorly in the previous year. The stock is down about 22% in the previous year while the equity benchmark Sensex is up 6% in the same time. Currently, this news has been gaining huge attention from people as they are super curious to know about the Motilal Oswal downgrade Fine Organic. You are on the right page for more information about the news and we will share it with you.
Motilal Oswal downgrades Fine Organic
Brokerage company Motilal Oswal Financial Services downgraded the stoke to sell because of the rich of the stock. The brokerage company stressed Fine Organics noted an in-line EBITDA of 100 crores in Q2FY24. EBITDA margin contracted 370bps YoY to 22.1%, while gross margin improved 370bps YoY to 4.19% mainly because of a sharp decline in raw material prices. The brokerage company stated the long-term options of the firm remain robust as the firm is in the Oleochemical space. The brokerage company estimates a revenue, EBITDA and PAT CAGR of 5% and 9 % respectively, over FY23-25 with a margin gliding around its long-term norm of 20 per cent by FY25. Here we have shared all the information about the news and if we get any information about the news then we will update you soon. Stay tuned to us for more updates.