Company Update : Fine Organic Industries Ltd By Motilal Oswal Financial Services Ltd
Miss on operating performance; margin contracts YoY and QoQ
* Revenue stood at INR5.2b (-19% from our est., +22% YoY). Gross margin contracted 360bp YoY to 38.2%, with EBITDAM at 20% (-170bp YoY).
* EBITDA stood at INR1b (est. of INR1.6b, +13% YoY). PAT stood at INR890m (est. of INR1.2b, +28% YoY).
* For 9MFY25, revenue was at INR16.3b (+14% YoY) and EBITDA was at INR3.7b (+6% YoY). PAT was at INR3b (+14% YoY). EBITDAM was at 22.7% (- 170bp YoY)
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