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Fine Organic Industries Ltd.

BSE: 541557 Sector: Industrials
NSE: FINEORG ISIN Code: INE686Y01026
BSE 00:00 | 26 Mar 1228.00 -33.05
(-2.62%)
OPEN

1250.30

HIGH

1273.50

LOW

1208.90

NSE 00:00 | 26 Mar 1227.55 -29.95
(-2.38%)
OPEN

1257.95

HIGH

1260.00

LOW

1213.10

OPEN 1250.30
PREVIOUS CLOSE 1261.05
VOLUME 600
52-Week high 1323.00
52-Week low 735.20
P/E 27.23
Mkt Cap.(Rs cr) 3,765
Buy Price 1204.05
Buy Qty 1.00
Sell Price 1224.95
Sell Qty 50.00
OPEN 1250.30
CLOSE 1261.05
VOLUME 600
52-Week high 1323.00
52-Week low 735.20
P/E 27.23
Mkt Cap.(Rs cr) 3,765
Buy Price 1204.05
Buy Qty 1.00
Sell Price 1224.95
Sell Qty 50.00

Fine Organic Industries Ltd. (FINEORG) - Chairman Speech

Company chairman speech

Dear shareholders

i t gives me an immense pleasure and profound satisfaction to present you the 2017-18annual report of Fine Organics. This is our first annual report post the successfulmaiden public issue and listing this year. this has been an important milestone in ourcorporate strategy and iplace on record my gratitude to all the shareholders for theiroverwhelming response to our iPO and reiterating their faith in our long-term growthstory. regardless of the fact that we are a well-established player in the oleochemicalderived additives space we believe that this move will provide us the right platform tofurther enhance our brand name and contribute to the long-term benefits of the company andits stakeholders.

Poised to grow

as you are aware Fine Organics is the largest producer of oleochemical-based additivesin india and one of the few large players globally. since our inception we have built adiversified product portfolio catering to a variety of high growth industries. in doingso we have successfully developed our specialised business model amidst high entrybarriers in this industry. it is a result of our determination and conviction that hasallowed us to prominently establish ourselves in the oleochemical space. We have developedour in-house proprietary technology and process development capabilities with a strongfocus on engineering r&d and innovation. as such we have built our capabilities todeliver customised solutions with a consistent quality and have established long-termrelationships with our diversified customer base across india and abroad. Our end-usersegments across polymer food and cosmetics have the potential to deliver substantialgrowth in the coming years and we are evenly poised to leverage this opportunity andfurther penetrate into the global markets.

Capacity expansions the key agenda

At Fine Organics on-streaming of our 67000 tPa expansion plans over the next 3 yearsform our key agenda. all the facilities at present are in different stages of development.the second ambernath facility of 5000 tPa has received clearance from midc and shall beoperational by Q2 FY19. the third ambernath facility of 32000 tPa is expected to go onstream in Q1 FY20. Beside manufacturing food plastic and cosmetics additive products wewill be focusing on oleochemical derived Feed nutrition additives. this is a very uniqueopportunity for us to capture the entire Western and european markets by eliminating theusage of harmful anti-biotics in animal and poultry feeds. the Patalganga facility of10000 tPa will be dedicated to food additives for export and growing domestic markets.the pilot scale is already installed and we have received satisfactory response on thesampling. this project is expected to be completed by Q3 FY20. We have also completedsetting up of facility at Patalganga of 10000 tPa for manufacturing premixes for bakeryand confectioneries for which trial runs have already started. it is a joint venture withnetherland-based entity Zeelandia international. Our germany project of 10000 tPa isentirely for food additives product range for european markets. it is also a joint venturewith germany-based entity adcotec. the project is a feather in our cap as the processtechnology and plant-machinery for this project are entirely supplied by us. this facilityis expected to be on stream in Q1 FY21 subject to all the necessary approvals.

Penetrating deeper into the global markets the key focus

Since the time we made our first exports in the year 2000 we have gradually marked ourimpression across the globe. We are supplying in major quantities to the developed marketslike us europe and the middle east. We have built relationships and delivered solutionsthat has led to continuous utilisation of our capacities. We are further optimistic aboutthe global opportunities through our product expansion and diversification into highmargin downstream products of bakery and confectionery premixes as well as feed nutritionadditives. Our upcoming capacities will cater to these additional demands and enhance ourpenetration into the global markets.

Manpower and technology the key drivers

Combination of skilled manpower and technology have the capability to do wonders in theadditive space. We have our dedicated manpower who understand the importance oftechnology and are determined to develop innovative solutions. We have the technology thatmeets the global standards. going ahead we will continue to explore newer venues ofgrowth in the food plastics and cosmetics segment. On behalf of the Board i would liketo thank all the shareholders for the trust reposed in us. We shall diligently focus onexpanding our shareholders' worth through our experience and the knowledge of themanagement team. ialso take this opportunity to express my gratitude to our bankers ourcustomers and especially our employees for their continued support. We hope to carryforward our ambitious goals and continue meeting expectations of our stakeholders goingahead.

Best wishes

Prakash Kamat

Executive director and chairman