Fine Organic Industries Ltd Share Price Fine Organic

2,234.55

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Director PARTHASARATHI THIRUVENGADAM
Director MAHESH PANSUKHLAL SARDA
Managing Director MUKESH MAGANLAL SHAH
Chief Executive Officer JAYEN RAMESH SHAH
Wholetime Director JAYEN RAMESH SHAH
Wholetime Director PRAKASH DAMODAR KAMAT
Chief Financial Officer TUSHAR RAMESH SHAH
Wholetime Director TUSHAR RAMESH SHAH
Director KAUSHIK DWARKADAS SHAH
Director PRAKASH KRISHNAJI APTE
Wholetime Director BIMAL MUKESH SHAH
Director PRATIMA MADHUKAR UMARJI
Company Secretary POOJA DATTATRAY GAONKAR

Fine Organic Industries is the largest manufacturer of oleochemical-based additives in India and a strong player globally in this industry. The Company produces a wide range of specialty plant derived oleochemicals-based additives used in the food, plastic, cosmetics, paint, ink, coatings and other specialty application in various industries. The Company is the first largest producer of to introduce slip additives in India. As at 31st March 2018, the Company had a range of 387 different products sold under the Fine Organics brand and 631 direct customers (i.e., end-users of our products) and 127 distributors (who sold its products to more than 5,000 customers) from 69 countries.The Company has three production facilities in Ambernath, Badlapur and Dombivli in Maharashtra with combined capacities of 64,300 TPA. The Company has a dedicated research and development (R&D) centre located in Mahape, Navi Mumbai. It has got a strong distribution network within India and globally. Ramesh Maganlal Shah and Prakash Damodar Kamat founded Fine Organic Industries in early 1970 at Mumbai, which was registered in 1973 as a partnership firm under the Indian Partnership Act, 1932. It commissioned its first facility in Dombivli MIDC Industrial Area in 1973, i.e. the Dombivli Facility which carried out processing and supply of food additives in Gujarat and Maharashtra. In 1975, Mukesh Maganlal Shah joined the partnership firm and expanded the business across India. Thereafter, in 1982, then existing partners incorporated a private limited company at Mumbai under the name of Smoothex Chemicals Private Limited for further expansion of the business. In 1988, the partnership firm had set up a production facility of various specialty additives i.e. the Second Ambernath Facility. Subsequently, Smoothex Chemicals expanded the production facilities in Malaysia and Thailand in 1990 and 1993, respectively. Further, the then existing partners founded another partnership firm in the name of Olefine Organics for enhancing the capacity in order to meet the market demands. In 1995, the then existing promoters incorporated another private limited company under the name of Oleofine Organics (India) Private Limited for expanding the capacity for polymer additives. The Company was incorporated as a private limited company on May 24, 2002 at Mumbai under the name of Fine Organic Industries (Mumbai) Private Limited. A plot of MIDC land of 39,412 square metre at Additional Ambernath was procured under a lease for 95 years. In 2003, then existing promoters incorporated another private company under the name of Fine Research & Development Centre Private Limited for undertaking dedicated research and development in their existing products, and established the Research and Development Centre in Navi Mumbai. In the First Ambernath Facility, the company commissioned a fatty acids esters facility in 2006. In 2008, the company commissioned a polymer additives unit at its First Ambernath Facility. In January 2009, the name of the Company was changed to Fine Organic Industries Private Limited for a better depiction of the nature and scale of operations and the business of the Company which is not limited to Mumbai only, as contained in the original name, with effect from February 16, 2009. In 2010, polymer additives capacity was expanded at the companys First Ambernath Facility. Pursuant to the order passed by the High Court of Bombay on June 17, 2011, Oleofine Organics (India) Private Limited was amalgamated with the Company. In 2012, the company commissioned additional food and polymer additives unit at its First Ambernath Facility. In 2013, the Company incorporated its wholly owned Subsidiary at the United States of America. In 2014, the Company established Joint Venture with Zeelandia International at Mumbai to manufacture food premixes and to maximize the benefits of synergies. In 2015, the company commissioned additional food and polymer capacity at its First Ambernath Facility. In 2016, the Company incorporated its wholly owned Subsidiary in Europe. Pursuant to the order passed by the National Company Law Tribunal, Mumbai on June 19, 2017, Fine Speciality Surfactants Private Limited, a company incorporated on August 19, 1987, and engaged in the manufacture, distribution and production of speciality chemicals, and Fine Research & Development Centre Private Limited were amalgamated with the Company. Thereafter, on July 18, 2017, the Company has sub-leased the facility and general plant and machinery at Dombivli, MIDC from Fine Organic Industries partnership firm pursuant to the leave and license agreement. The Company was converted into a public limited company and the name of the Company was changed to Fine Organic Industries Limited on November 2, 2017. In 2018, the company signed a joint venture agreement with Germanys Adcotec for application, development, marketing, distribution and sales activities of food and food additives.The company launched an initial public offer (IPO) during the period from 20 June 2018 to 22 June 2018. The IPO comprised of offer for sale of 76.64 lakh shares by promoters. There was no fresh issue of shares by the company. The IPO was priced at Rs 783 per share. The stock made its debut on the bourses on 2 July 2018.On 13 July 2018, Fine Organic Industries informed the stock exchanges that it has signed agreement with Citi Bank N.A., Jersey Branch for availing external commercial borrowing of USD 18.75 million to finance the capital expenditure of the Company.During the FY 2017-18, pursuant to the resolutions passed by the Board of Directors at its meeting held on 5th July, 2017 and the scheme of amalgamation, 2,80,000 equity shares of face value of Rs 10 each were allotted to the shareholders of Fine Speciality Surfactants Private Limited and Fine Research and Development Centre Private Limited. Further, pursuant to a resolution passed by our Shareholders on 22nd September, 2017 in their Extra-Ordinary General Meeting, for issue of Bonus shares in the proportion of two equity shares for every one equity share, 1,02,19,992 equity shares were allotted to the shareholders as of the record date, being 10th August, 2017 pursuant to the resolution passed by the Board in its meeting held on 16th October, 2017.The Company carries on business, in India and abroad, as manufacturers, processors, suppliers, distributors, dealers, importers, exporters of flavours, perfumes and flavouring chemicals, oil and colours, surface active agents, emulsifiers, preservatives, clouding agents, textile auxiliaries, lubricants, oleo chemicals and their derivatives, fatty acids and their derivatives, salt and esters. It also develops, processes, manufactures, deals in and carries on business in India and abroad in fine and heavy chemicals, oils, fats, dyes, dyestuffs, dye retardants, dye assistants, organic and inorganic chemicals.

REGISTERED OFFICE

Fine House Anandji Street,
Off M G Road Ghatkopar East,Mumbai,
Maharashtra-400077

Tell. : +91-022-2102 5000
Website : http://www.fineorganics.com
Email : investors@fineorganics.com

REGISTRAR OFFICE

Karvy Selenium Tow-B,
Nanakramguda,Hyderabad-500032
INDIA

Tell. : +91-40-67161500
Website : www.karvyfintech.com
Email : einward.ris@karvy.com