Fine Organic Industries is a manufacturer, processor, supplier, distributor, dealer, importer, and exporter of a wide range of oleochemical-based additives used in foods, plastics, cosmetics, coatings and other speciality applications in various industries. The company was established as a partnership firm by the late Shri Ramesh Shah and Shri Prakash Kamat in 1970. From 1970 to 2000, it commissioned the first food additives in Dombivli and established a second facility in Ambernath. During 2001-2005, Fine Organics started another facility at Badlapur, incorporated itself under the name of Fine Organic Industries (Mumbai) Pvt. Ltd., and expanded its footprint in the global market. During the same tenure, it expanded the capacity of the Badlapur facility and established an R&D centre in Navi Mumbai. It continued its operational growth and commissioned large manufacturing facilities in Ambernath from 2006 to 2015. In the same period, it expanded capacity phase-wise in Ambernath. In addition, the company signed a JV with Netherlands-based bakery premix manufacturer Zeelandia International. During 2016-2021, the company amalgamated Fine Research and Development Centre Pvt. Ltd. and Fine Speciality Surfactants Pvt. Ltd. In addition, it also went public and got listed in NSE and BSE. Moreover, it commissioned new plants at Ambernath and Patalganga during the same period.

Business Segments

The company is mainly in the business of manufacturing and selling specialty chemicals. During FY 2023, it only derived 100% of revenue from this segment. The company’s product portfolio revolves around Fine Food Ingredients, Fine Polymer Additives, Personal Care Additives, Feed Ingredients, etc.

Subsidiaries

• Fine Organics (USA), Inc.: This is a wholly-owned subsidiary that mainly operates its business in the United States of America.
• Fine Organics Europe BV: It is a wholly owned subsidiary which looks at the European business. The principal place of business is Belgium.

Key Personnel

Mukesh Shah, Chairman and Managing Director Mukesh Shah is currently the Chairman and Managing Director of the company. He joined the company in 1973 and played a key role in establishing quality control and global sales & marketing. He holds a bachelor’s degree in Science. Corporate Actions The company has no history of bonus issues, stock splits and other corporate actions.

Management Outlook

• The company believes that the changing diets and lifestyles are pushing the demand for packaged food & beverages worldwide. In addition, it is also supporting the demand for additives used in food processing to improve their nutritional content and quality.
• In addition, the demand for additives ingredients would primarily be backed by growing demand for processed, packaged, and ready-to-eat convenience foods.
• The company’s revenue from the personnel care industry will likely be supported by the growing demand for various skin and hair care products and rising consumer awareness. In addition, the growing focus on improving and modifying the textural features of various ingredients used in the personal care and cosmetics industries and the growing importance of personal and feminine hygiene will likely aid business growth.