Fineotex Chemical conducted their conference call for Q1: FY 2022 today at 5:00 PM

Here are the conference call highlights.

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Business Updates:

• Focusing to expand the portfolio in textile and homecare.
• Phase 1 of Ambarnath plant is expected to commission in Sept 2021.
• Appointed Arindam Choudhuri as new CEO. He has 2 decades of experience from the global textile chemical industry.

Partnership:

• Recently done JV with HealthGuard, for expanding in the Malaysia segment. This will provide scope in metal-free sustainable chemistry solutions that are anti-microbial and anti-viral.
• Tied up with Sasmira for R&D, where even Mr. Sanjay was alumini as welll.

Cleaning and Hygiene Business:

• Got FDA approval for disinfectant, and has also hired 10 sales team. There will addition of 16 more team members this quarter.
• This segment will be targeted to institutional segment targeting to corporate office, hospitals.

• With market opening up this segment is expected to grow well.
• Healthguard Guard is Billion $ opportunity and FCL is targeting 7-8% of market share. This is expected to generate revenue from the next quarter.
• HAIQ, DOW is the competitor for HealthGuard.