**BSE Scrip Code: 530213 | ISIN: INE811D01011** Fortune International Limited is a **BSE-listed** diversified trading, consultancy, and investment entity. Recognized as a **Government of India Star Trading House**, the company is currently executing a comprehensive strategic pivot. By leveraging its historical strength in international trade, the company is expanding into high-growth verticals including **Natural Resources, Renewable Energy, and FMCG**, supported by a significant equity stake in large-scale mining operations. --- ### **Strategic Pivot & Expanded Business Mandate** In **December 2023**, the company formally amended its **Memorandum of Association (MOA)** to align with the **Companies Act, 2013** and authorize a massive expansion of its operational scope. This shift transitions the company from a pure-play trading house into an integrated industrial and energy player. #### **1. Natural Resources & Infrastructure Materials** The company has positioned itself as a full-cycle player in the stone and mineral sector: * **Extraction & Processing:** Quarrying and manufacturing of **Granite, Marble, Limestone**, and other minerals. This includes the production of rough and polished slabs and tiles. * **Construction Aggregates:** Manufacturing and distribution of **M-Sand (Manufactured Sand)**, **Ready-Mix Concrete (RMC)**, stone aggregates, and pavers. * **Infrastructure Supply:** Trading in bulk materials such as **cement, bricks, steel, glass, and timber** for large-scale projects including **highways and rail tracks**. * **Mining Services:** Providing technical support, including excavation, drilling, and waste removal. #### **2. Renewable Energy Generation** Fortune International is now authorized to act as an independent power producer: * **Solar & Green Energy:** Generation, distribution, and supply of **Solar Energy** and other renewable power. * **Target Markets:** Sales are directed toward **State Electricity Boards**, industrial units, and commercial consumers, alongside provisions for captive use. #### **3. Agri-Commodities & FMCG Diversification** The company is moving up the value chain from bulk trading to branded consumer goods: * **Core Commodities:** Processing and trading of **grains, pulses, spices**, and edible oils. * **Beverages & Dairy:** Production of **fruit juices, soft drinks**, and a dairy vertical encompassing **milk, cheese, butter, and yogurt**. * **Wellness & Nutrition:** Development of **nutraceuticals, dietary supplements**, and functional food ingredients (additives and flavors). --- ### **Strategic Investment: Fortune Stones Limited (FSL)** A cornerstone of the company’s valuation is its significant interest in the mining sector through its associate entity. * **Equity Stake:** **36.01%** (comprising **1,797,500** equity shares). * **Primary Activity:** Large-scale **Granite Mining**. * **Financial Impact:** The results of FSL are consolidated with Fortune International. In FY 2022-23, while standalone operations were lean, the consolidated profit reached **₹714.56 Lakhs** due to FSL’s performance. --- ### **Intellectual Property & Technology Strategy** The company’s growth model emphasizes the acquisition of "soft assets" to create high entry barriers in the manufacturing and wellness sectors: | Focus Area | Key Activities | | :--- | :--- | | **IP Acquisition** | Obtaining **patents, brevets**, and **manufacturing know-how**. | | **Brand Assets** | Development and renewal of **trademarks, copyrights, and industrial designs**. | | **R&D Licensing** | Granting or obtaining **exclusive/non-exclusive licenses** for technical processes. | | **Technical Know-how** | Acting as consultants for industrial processing and distribution systems globally. | --- ### **Financial Performance & Capital Structure** The company maintains a stable capital base with a focus on improving bottom-line efficiency despite fluctuations in operating revenue. **Standalone Financial Summary:** | Particulars | FY 2023-24 | FY 2022-23 | | :--- | :--- | :--- | | **Net Profit After Tax (PAT)** | **₹54.78 Lakhs** | **₹45.56 Lakhs** | | **Weighted Avg. Equity Shares** | **7,040,000** | **7,040,000** | | **Earnings Per Share (EPS)** | **₹0.78** | **₹0.65** | | **Nominal Value per Share** | **₹10** | **₹10** | **Capital & Shareholding Details:** * **Total Borrowings:** Stable at **₹43.00 Lakhs** (as of March 2024/2025). * **Dematerialization:** **71.69%** of shares are held electronically (**68.31% NSDL; 3.38% CDSL**). * **Dividend Status:** No dividend was recommended for the recent cycle to preserve capital for the new business verticals. * **Convertibles:** The company has **no outstanding GDRs, ADRs, or Warrants**. --- ### **Risk Management Framework** The company operates under a structured **Business Risk Management framework** overseen by a dedicated committee to navigate the complexities of international trade. #### **Market & Geopolitical Risks** * **Global Competition:** Intense pressure from **China** and other emerging markets in the engineering and textile sectors. * **Sovereign Risk:** Potential for **payment defaults or exchange transfer blockages** in international jurisdictions. * **Regulatory Shifts:** Exposure to tightening international labor and environmental laws. #### **Financial Risk Mitigation** * **Currency Risk:** As an exporter, the company is highly sensitive to **INR** fluctuations. It actively uses **foreign exchange forward and currency option contracts** to hedge exposure. * **Interest Rate Risk:** Management monitors floating rate debt with a **50 basis point** sensitivity analysis. * **Liquidity & Credit:** Maintained through rolling cash flow forecasts and strict counterparty risk limits. --- ### **Governance & Operational Infrastructure** Fortune International adheres to high standards of corporate governance, often exceeding mandatory requirements for companies of its size. * **Board Composition:** **5 Directors**, including **2 Independent Directors** and **2 Women Directors**. * **Key Management:** Led by **Mr. Nivedan Bharadwaj (Managing Director)**. * **Specialized Committees:** Audit, Nomination & Remuneration, Stakeholders' Relationship, Risk Management, and Whistle Committee. * **Asset Management:** The company maintains a lean physical footprint with a standardized depreciation policy: * **Computers/Printers:** **3 years** * **Office Equipment:** **5 years** * **Furniture & Fittings:** **10 years** * **Compliance Integrity:** No proceedings are pending for **Benami property**; the company has **zero exposure** to **Crypto/Virtual Currencies** and no transactions with struck-off companies.