Fine Organic - Overseas Recovery A Quarter Away: Nirmal Bang

Underlying demand in the domestic market is satisfactory and is expected to partially offset the softness in overseas markets.

Chemicals solutions in test tubes sits inside a R&D lab. (Source: pexels)

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Nirmal Bang Report

We recently interacted with the management of Fine Organic Industries Ltd. in order to better understand region-wise demand trends, potential impact of the Red Sea situation and update on the upcoming expansion in Maharashtra.

The management expects at least one quarter of pain in the U.S. and Europe markets due to subdued demand in the respective segment(s).

Considering the near-term demand outlook, we believe that capacity shortage is not really very bad news. However, timely commissioning of Maharashtra SEZ capacity is the key.

Fine Organic remains our top 'Buy' idea. (40 times price-to-earning on Dec-25E).

Click on the attachment to read the full report:

Nirmal Bang Fine Organic Conference-Update.pdf
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