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Revenue
₹138 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
₹31.03 Cr
latest reported figure
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Actual signal trajectory
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Quarter read
What the record says.
Fineotex Chemical reported Q2 FY26 consolidated revenue of ₹145.43 crore, with EBITDA of ₹31.03 crore (margin 22.53%) and PAT of ₹26.08 crore. Revenue was flat YoY due to US tariff-related postponements in textile orders, though sequential improvement was driven by gross margin expansion of 500bps QoQ to 38.45% from better product mix and cost controls. The oil & gas segment grew to 7% of sales (from 4% in Q1), and the new 16,000-tonne capacity plant is ramping up. Management expects H2 to be stronger than H1, targeting at least 15% annual growth, with potential government orders for Aqua Strike in H2. Key risk: continued geopolitical uncertainty could further delay textile order conversion.
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Guidance to track
- Management expects second half to be stronger than first half, driven by textile recovery and oil & gas ramp-up.
- Management guided for a minimum 15% year-on-year growth rate going forward, assuming geopolitical conditions improve.
- Management is confident of securing significant orders from Indian government for Aqua Strike in the second half of FY26.
- Management indicated that historical EBITDA margins average 22-23%, and they expect to maintain similar levels.
Risks flagged
- Geopolitical tensions and US tariffs have caused postponement of textile orders, affecting revenue conversion.
- Management could not provide clarity on warrant conversion status, indicating potential dilution risk.
- New 16,000-tonne plant utilized only ~10% in Q2; full ramp-up may take longer than expected.
Key quotes
- Our consolidated revenue has grown at a CAGR of 30.5% since 2020 while our profits have grown by 70.5% CAGR over the same period.
- There is definitely an impact of the geopolitical situation. So a lot of orders which are there in the books also lot of the customers orders have got postponed.
- I think if you consider from today onwards I think there should be at least 15% growth rate in the coming times also hoping that the geopolitical situations gets better for India.
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