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Fine Organic Industries Ltd.

BSE: 541557 Sector: Industrials
NSE: FINEORG ISIN Code: INE686Y01026
BSE 00:00 | 16 Jun 2865.85 -27.60
(-0.95%)
OPEN

2890.00

HIGH

2924.95

LOW

2856.05

NSE 00:00 | 16 Jun 2866.50 -24.85
(-0.86%)
OPEN

2899.80

HIGH

2929.00

LOW

2855.00

OPEN 2890.00
PREVIOUS CLOSE 2893.45
VOLUME 5549
52-Week high 3565.25
52-Week low 1852.10
P/E 76.44
Mkt Cap.(Rs cr) 8,787
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 2890.00
CLOSE 2893.45
VOLUME 5549
52-Week high 3565.25
52-Week low 1852.10
P/E 76.44
Mkt Cap.(Rs cr) 8,787
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Fine Organic Industries Ltd. (FINEORG) - Chairman Speech

Company chairman speech

Dear Shareholders

I am delighted to share with you the events and developments of our Company during FY2019-20. We continued performing well in most of our sectors during the year. However thelast few days of March 2020 we witnessed one of the severest health crisis in recenttimes – Coronavirus (COVID-19). It has not just thrown challenges at us but alsochanged a lot of dynamics at the global level and opening up new possibilities. The worldis exploring manufacturing alternatives and India is well-placed to harness theopportunity coming its way.

Performance Snapshot

The financial performance for FY 2019-20 reported a slight de-growth in revenues owingto the lockdowns. However we were successful in registering a growth of 6.22% and 29.06%in EBITDA and PAT figures on a standalone basis respectively. During the year wesuccessfully commenced production at our third facility at Ambernath. With regards to ourother expansion project at Patalganga construction activities have already begun and aremoving on track as planned. This facility will be dedicated to food additives for exportsand growing domestic markets.

Versatility and Innovations

Versatility is the strength needed to evolve recreate explore discover and finallylearn. The versatility of our products and solutions is an outcome of our constant R&Dand innovation. It is a result of our determination and conviction that has allowed us toadapt quickly to the market needs. Besides our in-house proprietary technology andprocess development capabilities have allowed us to build a diversified product portfolio.Over the years these products have been finding their applications in variedapplications. Besides we have also consistently delivered need-based solutions toconstantly cater to the varied client needs.

COVID 19: Response

The world's exposure to COVID 19 has sparked a sense of personal hygiene and how it hastaken a new priority in our lives. We ensured that all the health and safety protocolswere followed at the plant level to keep our staff safe. On the business front ourversatile nature and strong innovation capability made us responsive to the need of thehour. We developed a metal-free Oleo-chemical based antimicrobial additive which can beused in plastic-based PPEs as well as variety of plastic products to attain superiorprotection. Further with the forced lockdowns we envisaged people stocking up groceries.Hence we enhanced our focus on the food emulsifiers for biscuits and bakery productswhich witnessed a larger off take during the pandemic.

India: An Emerging Alternative

COVID-19 has disrupted the global supply chain in various sectors. Companies across theworld are facing shortages which is leading them to find an alternative. With the rightprospects cost advantage and suitable manufacturing conditions India is becoming themost preferable and above all most desired location for outsourcing specialty chemicals.Hence Indian Specialty Chemicals Industry stands to gain immensely from the underlyingopportunity.

Closing Note

Going ahead I am confident that our disciplined strategy prudent approach focus onagile execution and our committed team will enable us to improve our performance furthercreating greater shareholder value. I would like to thank our partners across the valuechain for their impeccable commitment and services in these challenging times. Thecontribution made by our employees is truly commendable in the continued success of FineOrganics amidst such testing times. I would also like to extend my gratitude towards ourcustomers associates and vendors for their sustained support. I humbly express my sincereappreciation to all our Board Members and Shareholders for their continued faith trustencouragement and support that allowed us to evolve over the years and has given us theconfidence to keep exploring ourselves year on year. Best wishes

Prakash Kamat

Chairman and Executive Director