Marcellus added it to Little Champs Portfolio
We have added Fine Organic Industries to our portfolio. Fine Organic is the largest manufacturer of oleochemical-based niche additives in India. It is among the five largest global players in polymer additives and among leading global players in specialty food emulsifiers. Fine Organic’s product portfolio comprises of over 400 products including food additives, polymer additives, emollients for cosmetics, additives for rubber & elastomers, etc. Although the volume of additive used in end products is low, these are very critical in imparting the requisite properties to the products which gives Fine’s products ready buyers. Further, Fine’s in-house developed technology, processes and solution-based approach to customers has led to long standing relationships with most clients and also created strong entry barriers for competitors. The shift from synthetic chemicals-based additives to oleo-chemicals based additives is also a growth generator for the company. Fine’s management has been conscious about increasing the composition of value-add products in its mix of portfolio ad has been prudent in capital allocation. While Fine Organic’s revenues have grown at 11% CAGR over the last 7 years, its earnings have grown at a 34% CAGR during this period and the average pre-tax ROCE has been 38%.