Chemicals & Petrochemicals
Camlin Fine Sciences Limited, together with its subsidiaries, engages in the research, development, manufacture, and marketing of specialty chemicals, ingredients, and additive blend products in India and internationally. The company offers shelf-life solutions, which include antioxidants comprises Butylated Hydroxy Toluene and Ascorbyl palmitate; and emulsifiers, mold inhibitors, antibacterial agents, toxin binders, pellet binders, disinfectants, energizers, preservatives, thickening agents, and growth promoters, as well as plant-based antioxidants, such as mixed tocopherols, green tea extract, and rosemary extract that are used to enhance the shelf life under the Xtendra and NaSure brands. It also provides aroma ingredients, including vanillin and ethyl vanillin; health and wellness products; and performance chemicals, such as hydroquinone and catechol. Its products are used in food and beverage, pet food, animal nutrition, rendering, health and wellbeing, chemicals, biofuel, aroma technical, fragrance, and flavor industries. The company was formerly known as Camlin Fine Chemicals Limited and changed its name to Camlin Fine Sciences Limited in August 2011. Camlin Fine Sciences Limited was founded in 1931 and is headquartered in Mumbai, India.
Investor Care | |
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Shares Dilution (1Y) | 12.22% |
Diluted EPS (TTM) | -12.76 |
Financial Health | |
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Current Ratio | 1.2 |
Debt/Equity | 1.11 |
Summary of Camlin Fine Sciences's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Last updated: Feb 25
Management Outlook and Major Points:
1. Financial Performance & Growth:
2. Vanillin Business:
3. Blends Business:
4. Cost Rationalization:
5. Future Focus:
6. Guidance:
Last updated: Feb 25
Question 1:
Tushar Raghatate (Kamayakya Wealth Management): Sir, like in the last call, you guided for 75% utilization of your Vanillin plant for FY26. Got it, sir. Sir, so like in terms of improving the realization for FY26, I am asking, do you see the margin to improve now sequentially and YOY going forward?
Answer: The 75% utilization guidance for FY26 remains. Margins are expected to improve with rising prices due to anti-dumping actions, though exact pricing trends remain uncertain.
Question 2:
Satish Kumar (InCred Research): Good evening sir, I just wanted to know what has been our fixed cost in European operations this quarter?
Answer: Fixed costs for European operations were ~Rs.16 crores this quarter and will reduce significantly from Q1FY26 after evacuating intermediate materials.
Question 3:
Shubham Jain (NV Alpha Funds): What is the total loss that we are still making in the Catechol plus Vanillin combined entity at a quarter level?
Answer: The Catechol-Vanillin chain will breakeven at ~70% Vanillin utilization (expected by FY26). Vanillin alone breakeven is at ~40% utilization.
Question 4:
Ravi Mehta (Deep Financials): Q4 is basically will have a better pricing compared to Q3?
Answer: Yes, Q4 pricing is improving post-US anti-dumping duty, with gradual recovery across markets.
Question 5:
Raman KV (Sequent Investments): What is the current capacity utilization for Catechol and Vanillin?
Answer: Diphenol (Catechol) plant: ~75% utilization, targeting 85"“90% by year-end. Vanillin: ~50"“55% utilization, ramping to 70% by FY25 end.
Question 6:
Jatin Sangwan (Burman Capital): What is EBITDA from continuing operations (excluding Europe/China losses)?
Answer: Adjusted EBITDA from continuing operations is ~Rs.70 crores (vs. reported Rs.53 crores after including Rs.17 crores losses from discontinued ops).
Question 7:
Surya Patra (PhillipCapital): What is the visibility for Vanillin volume ramp-up in FY26?
Answer: Limited long-term contracts due to price volatility, but structured regional diversification (1/3 each to US, Europe, ROW) supports utilization.
Question 8:
Rahul Picha (Multi Act): What is the debt repayment plan and FY26 capex?
Answer: Repaying Rs.45"“50 crores annually; gross debt at Rs.600 crores post-rights issue. FY26 capex: Rs.30"“35 crores (mainly maintenance).
Question 9:
Nisarg Vakharia (NV Alpha Fund Management): What are Blends' gross margins and working capital needs?
Answer: Blends' gross margins: 30"“35%. Working capital: 100"“110 days (inventory + receivables).
Question 10:
Prashant Kothari (Stock Market Read): How has Vitafor integration progressed? Impact of US-Mexico tariffs?
Answer: Vitafor integration complete; targeting 20"“25% growth in FY26. Mexico operations unaffected by tariffs (negotiations ongoing).
Question 11:
Parthiv Shah (TS Builders): What drives Blends' 20% growth vs. global peers?
Answer: Growth driven by technical expertise, customer acquisition, and geographic expansion. Focus on human/animal food blends.
Question 12:
Tushar Raghatate (Follow-up): Post-H2FY26 margin outlook?
Answer: Margins uncertain due to pricing dynamics but likely to improve as discontinued ops (Europe/China) wind down.
Question 13:
Jatin Sangwan (Follow-up): Vanillin cost reduction at higher utilization?
Answer: At 100% utilization, Vanillin production cost could drop ~10% (from $8.50"“9.00/kg to ~$8.00/kg).
Question 14:
Surya Patra (Follow-up): Debt details post-rights issue?
Answer: Gross debt at Rs.600 crores post-repayment of Rs.100 crores NCD. No immediate plans for accelerated repayment.
Question 15:
Rahul Picha (Follow-up): Europe/China loss reduction timeline?
Answer: Europe losses to reduce to Rs.20"“25 crores annually by FY26; China losses at Rs.3"“4 crores/quarter, improving next year.
Question 16:
Nisarg Vakharia (Follow-up): Why not disclose Catechol loss separately?
Answer: Catechol is a joint product; losses offset by Hydroquinone profits. Minimal standalone Catechol sales.
Question 17:
Raman KV (Follow-up): Use of rights issue proceeds?
Answer: Rs.100 crores repaid for NCD, Rs.68 crores reserved for debt repayment, Rs.56 crores for general purposes.
Question 18:
Parthiv Shah (Follow-up): Vanillin capacity de-bottlenecking?
Answer: Max capacity: ~7,000 tons post-de-bottlenecking. FY26 target: 75% utilization (4,500 tons), 100% in later years.
Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.
Balance Sheet: Reasonably good balance sheet.
Momentum: Stock is suffering a negative price momentum. Stock is down -2.8% in last 30 days.
Profitability: Poor Profitability. Recent profit margins are negative at -14%.
Dividend: Stock hasn't been paying any dividend.
Dilution: Company has a tendency to dilute it's stock investors.
Comprehensive comparison against sector averages
CAMLINFINE metrics compared to Chemicals
Category | CAMLINFINE | Chemicals |
---|---|---|
PE | -12.81 | 54.24 |
PS | 1.84 | 4.56 |
Growth | 1.5 % | 7.3 % |
CAMLINFINE vs Chemicals (2021 - 2025)
Valuation | |
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Market Cap | 3.06 kCr |
Price/Earnings (Trailing) | -12.77 |
Price/Sales (Trailing) | 1.83 |
EV/EBITDA | -36.98 |
Price/Free Cashflow | 23.09 |
MarketCap/EBT | -11.86 |
Fundamentals | |
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Revenue (TTM) | 1.68 kCr |
Rev. Growth (Yr) | 12.2% |
Rev. Growth (Qtr) | -0.06% |
Earnings (TTM) | -240.01 Cr |
Earnings Growth (Yr) | 47.67% |
Earnings Growth (Qtr) | 93.57% |
Profitability | |
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Operating Margin | -3.43% |
EBT Margin | -15.42% |
Return on Equity | -36.08% |
Return on Assets | -12.73% |
Free Cashflow Yield | 4.33% |
Detailed comparison of Camlin Fine Sciences against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
---|---|---|---|---|---|---|---|---|---|
VINATIORGA | Vinati OrganicsSpecialty Chemicals | 17.12 kCr | 2.2 kCr | +4.44% | +0.65% | 44.3 | 7.79 | +16.41% | +7.41% |
JUBLINGREA | Jubilant IngreviaSpecialty Chemicals | 10.42 kCr | 4.24 kCr | +0.67% | +20.42% | 50.5 | 2.46 | -0.03% | +0.20% |
GALAXYSURF | Galaxy SurfactantsSpecialty Chemicals | 7.53 kCr | 4.05 kCr | +3.65% | -17.36% | 24.56 | 1.86 | +4.96% | -2.53% |
BALAMINES | Balaji AminesSpecialty Chemicals | 4.2 kCr | 1.49 kCr | +7.26% | -41.22% | 22.01 | 2.81 | -13.51% | -11.35% |
SEQUENT | Sequent ScientificPharmaceuticals | 3.66 kCr | 1.53 kCr | +11.64% | +15.59% | 157.88 | 2.39 | +10.41% | +118.77% |
Understand Camlin Fine Sciences ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
Shareholder Name | Holding % |
---|---|
Ashish Subhash Dandekar | 10.52% |
Infinity Direct Holdings | 10.41% |
Anfima Nv | 9.03% |
Infinity Holdings | 6.34% |
Infinity Direct Holdings Sidecar I | 4.93% |
Camart Finance Limited | 2.83% |
Icici Prudential Smallcap Fund | 2.69% |
Nirmal Vinod Momaya | 1.92% |
Anagha Subhash Dandekar | 1.61% |
Vibha Agencies Pvt Ltd | 1.39% |
Ajay Upadhyaya | 1.3% |
Infinity Portfolio Holdings | 1.2% |
Jagdish N Master | 1.08% |
Urjita J Master | 1.08% |
Cafco Consultants Limited | 0.8% |
Radha Pandit | 0.04% |
Anand Y Pandit | 0.01% |
MK Falcon Agro tech Pvt. Ltd. | 0% |
Director or Director's Relatives | 0% |
Distribution across major stakeholders
Distribution across major institutional holders