• Event Type: Earnings Call for Q4 and FY26 results discussion
  • Date and Time: Thursday, May 21, 2026 at 3:30 p.m. (IST)
  • Purpose: Discussion of business and financial performance for the quarter and financial year ended March 31, 2026
  • Timing: Post-results investor interaction after earnings announcement
  • Management Participants:
  • Mr. Mukesh Shah – Promoter and Chairman
  • Ms. Sonali Bhadani – Chief Financial Officer
  • SGA – Investor Relations Advisors
  • Availability of Materials: The transcript and audio recording are available on the company's website at https://www.fineorganics.com/investor-presentations/ and have been uploaded to stock exchanges
  • Compliance Statement: The company included standard forward-looking statement disclaimers noting that statements are not guarantees of future performance and involve risks and uncertainties

Financial Highlights Discussed

  • FY26 Financial Performance:
  • Revenue from operations: ₹2,365 crores (up 4.3% from ₹2,269 crores in FY25)
  • Profit after tax: ₹417 crores (up 1.6% from ₹410 crores in FY25)
  • EBITDA margin: 20.4%

Strategic Updates and Expansion Projects

  • Malaysian Acquisition: Board approved acquisition of 80% stake in Oleofine Organics BHD, Malaysia for approximately MYR 34.2 million (₹82.9 crores). The company reported turnover of MYR 23.3 million (approximately ₹54 crores) as of January 31, 2026
  • JNPA SEZ Project: Total investment of approximately ₹192.5 crores to date in wholly-owned subsidiary. Expected commercial production commencement during FY28 with estimated investment of ₹700-750 crores for first phase
  • US Expansion: Acquired 160 acres of land in Jonesville, Union County, South Carolina. Equity investment of approximately USD 1.12 million (₹9.6 crores). Planning 3-phase expansion with conservative initial capacity
  • Dubai Subsidiary: Established wholly-owned subsidiary in Dubai with equity infusion of Dirham 2 lakh (approximately ₹49.5 lakh) to enhance GCC presence
  • Thailand JV: Increased equity investment of approximately ₹6.17 crores (THB 22.5 million) in joint venture company

Operational Updates

  • All manufacturing facilities running at almost full capacity utilization
  • Patalganga facility for food additives seeing steady ramp-up, expected to reach full capacity in next financial year
  • Raw material prices remained elevated in FY26 with marginal increase in Q4 FY26 compared to Q3 FY26
  • Freight costs increased during Q4 FY26 due to West Asia conflict disruptions

Management Changes

  • Appointment of Mr. Shailendra Nadkarni as Additional Director (Non-Executive Independent Director) for 5 years effective May 19, 2026, subject to shareholders' approval

Guidance and Outlook

  • Management expects flat growth until FY28 due to capacity constraints
  • Sustainable EBITDA margin guidance of 18-20%
  • Raw material prices expected to remain elevated in FY27
  • No significant demand impact observed despite price increases

Additional Notes

  • Document includes full transcript of earnings call with analyst Q&A session
  • Company emphasized that no unpublished price sensitive information (UPSI) was shared during the call
  • The transcript contains corrected figures for Malaysian acquisition turnover (₹54 crores instead of initially mentioned ₹44 crores)