Fine Organic Q3FY26 Revenue Down 7.1% QoQ to ₹554.8 Crore, PAT at ₹73.9 Crore
Fine Organic Industries reported Q3FY26 consolidated revenue of ₹554.8 crore, down 7.1% QoQ but up 7.3% YoY. PAT for the quarter was ₹73.9 crore. For 9MFY26, revenue stood at ₹1,740.5 crore. The company infused ₹6.17 crore into its Thailand JV and incorporated a WOS in UAE. In Q2FY26, it invested ₹9.6 crore in its US subsidiary for a manufacturing plant.
The results show mixed performance with a sequential decline in revenue and profit, which could impact investor sentiment. However, the ongoing strategic expansions in Thailand, UAE, and the US indicate future growth potential, balancing the immediate impact.
The company reported a year-on-year increase in revenue but a sequential decrease, alongside a decline in PAT both year-on-year and quarter-on-quarter. While strategic expansions are positive, the mixed financial performance leads to a neutral sentiment.
Fine Organic Industries Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025. The company reported consolidated revenue from operations of ₹554.8 crore for Q3FY26, a decrease of 7.1% compared to the previous quarter (Q2FY26) but an increase of 7.3% year-on-year compared to Q3FY25. Profit After Tax (PAT) for the quarter stood at ₹73.9 crore, down 10.6% YoY and 31.9% QoQ.
For the nine-month period ended December 31, 2025 (9MFY26), consolidated revenue was ₹1,740.5 crore, a 4.7% increase over 9MFY25. PAT for 9MFY26 was ₹299.6 crore, a 4.4% decrease compared to the same period last year. The company noted that the nine-month PAT includes a claim of ₹6.98 crore as full and final settlement for business interruption from an insurance company.
Exports constituted approximately 53% of total revenue in Q3 FY26, with domestic demand at 47%. The company observed stable overall demand, with steady performance in export markets and improving domestic demand. Raw material prices saw an increase in FY26 compared to FY25, with a slight rise in Q3 compared to Q2. Freight costs stabilized and reduced in Q3 due to lower global sea freight rates.
Fine Organic also recognized an additional estimated provision of ₹7.11 crore towards past service cost for Gratuity, related to the new Labour Codes effective November 21st, 2025.
In terms of strategic initiatives, the company infused equity of approximately ₹6.17 crore in its Joint Venture company, Fine Organic Industries (Thailand) Co. Ltd. Furthermore, Fine Organic Industries Limited incorporated a wholly owned subsidiary, Fine Organics FZE, in Dubai, UAE, to establish a local presence in GCC countries and enhance supply chain efficiency.
In Q2FY26, the company had issued Preference Shares amounting to ₹65 crore in its wholly owned subsidiary, Fine Organic Industries (SEZ) Private Limited. Additionally, in the same quarter, Fine Organics Americas LLC was incorporated in the United States for setting up a manufacturing plant, with an equity investment of USD 1.12 million (approximately ₹9.6 crore) and the acquisition of land in South Carolina.
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