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Fine Organic Industries reported FY25 revenue growth of 6.9% to INR2,269 Cr, with EBITDA at INR512.9 Cr, down 4% YoY, and PAT steady at INR410.5 Cr. Exports accounted for 57% of sales. Margin pressures persist due to higher raw material and utility costs, though prices are expected to stabilize. Growth is driven by a new SEZ export plant (INR700-750 Cr capex) and planned expansions in the U.S. and UAE. Capacity utilization is near full; volume growth relies on new facilities. Management is cautiously optimistic on demand, supply chain, and product innovation.