About Fine-Line Circuits
Fine-Line Circuits is a publicly listed company based in Mumbai (India) founded in 1989. It operates as a multi-layer printed circuit boards are manufactured in Mumbai, India. The company has 145 employees. Its Indian entity Fine-Line Circuits Limited reported revenue of ₹30.38 Cr. Fine-Line Circuits offers products and services including Printed Circuit Boards and High Frequency Microwave PCBs. Its focus areas include Semiconductors and Printed Circuit Boards.
Company details
Fine-Line Circuits was established in 1989 in Mumbai, India, where operations center on the production of multi-layer printed circuit boards for the electronics sector. Advanced PCB manufacturing processes are utilized, including high-density interconnects and custom designs. Services encompass fabrication and assembly tailored to industry needs. The company is directed by Managing Director Abhay Doshi, with activities confined to the Indian market.
- Headquarters Mumbai, India
- Employees 145
- Stage Public
- SectorsIndustrial Goods & Manufacturing
- Email••••••••
- Phone•••• ••••
- Website finelineindia.com
- Social LinkedIn X Facebook YouTube
- Legal Name Fine-Line Circuits Limited
- Market Cap₹41.39 Cr
FINELINE · BSE
- Share Price₹81.76
-5.00% today
- Revenue₹33.18 Cr
FY 2025-26 · +9.3% YoY
- EBITDA₹1.25 Cr
Margin 3.8%
- Net Profit₹0.38 Cr
FY 2025-26 · +81.0% YoY
- P/E (TTM)82.3x
P/B 4.8x
- ROE4.3%
ROCE 5.7%
- Debt / Equity0.74
Interest cover 100.0x
- Employee Count145
Associated legal entities of Fine-Line Circuits
Fine-Line Circuits operates through Fine-Line Circuits Limited, a listed company (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Fine-Line Circuits Limited Listed CIN L72900MH1989PLC131521 | Active | 09 Oct 1989 | Mumbai, Maharashtra | ₹30.4 Cr | 21 | 10 | View details |
Products & Services of Fine-Line Circuits
Fine-Line Circuits offers a comprehensive portfolio of products and services, including Printed Circuit Boards and High Frequency Microwave PCBs.
High-count multilayer PCBs are produced by Fine-Line Circuits for complex applications, incorporating features like impedance control and blind vias.
Hybrid PCBs are manufactured by Fine-Line Circuits using materials like Rogers and Panasonic, which are utilized in aerospace and naval systems for superior electrical properties.
Apps and channels of Fine-Line Circuits
its YouTube channel Fine Line Circuits Limited has 72 subscribers and 6 videos.
Videos from Fine-Line Circuits
The most watched videos on Fine-Line Circuits's YouTube channel, Fine Line Circuits Limited (72 subscribers). Click a video to play it here.
More on Fine Line Circuits Limited.
Board of directors of Fine-Line Circuits Limited (Fine-Line Circuits)
Fine-Line Circuits Limited is the primary company behind Fine-Line Circuits. The board of Fine-Line Circuits Limited currently have 8 directors; the longest-serving is Abhay Bhagwandas Doshi, appointed in 1990. 11 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Abhay Bhagwandas Doshi DIN 00040644 | Managing Director | 26 Apr 1990 | 36 yrs 5 mo | Fine-Line Circuits Limited |
| Upendranath Nimmagadda DIN 00613289 | Director | 10 May 1991 | 35 yrs 5 mo | Fine-Line Circuits Limited |
| Gautam Bhagwandas Doshi DIN 00328854 | Director | 22 Sep 1993 | 33 yrs | Fine-Line Circuits Limited |
| Rajiv Bhagwandas Doshi DIN 00651098 | Whole-time director | 01 Apr 2007 | 19 yrs 6 mo | Fine-Line Circuits Limited |
| Jayesh Rambhia DIN 02049473 | Director | 06 Aug 2024 | 2 yrs 2 mo | Fine-Line Circuits Limited |
| Akshay Rajendra Shah DIN 00367382 | Director | 24 Aug 2024 | 2 yrs 1 mo | Fine-Line Circuits Limited |
| Maryam Shojaei Baghini DIN 07757477 | Director | 24 Aug 2024 | 2 yrs 1 mo | Fine-Line Circuits Limited |
| Premkumar Menon Ramunni DIN 00328942 | Director | 28 Sep 2024 | 2 yrs | Fine-Line Circuits Limited |
People of Fine-Line Circuits
1 people are tracked at Fine-Line Circuits (1 in leadership); the tracked headcount is 145.
| Name | Role | Group |
|---|---|---|
| Managing Director | Leadership |
Complete people profiles for Fine-Line Circuits
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
IPO & Listings of Fine-Line Circuits
Fine-Line Circuits is a publicly listed company on the BSE with ticker symbol FINELINE in India, operating in the Electronic technology sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- IPO date17 Oct 2001
- Listed onBSE: 517264
- Listed entityFine-Line Circuits Limited
- Exchange sectorElectronic technology
- ISININE087E01011
- Share price₹82.20 (+4.14% on the day) · 2026-10-14
- Market capitalisation₹37.9 Cr
- Price to earnings334.0
- EPS (diluted, trailing year)₹0.25
- Volume (last session)52,586
Financials of Fine-Line Circuits
Exchange-reported figures of Fine-Line Circuits Limited, the listed company behind Fine-Line Circuits (BSE: FINELINE).
Financial Highlights
FY 2025-26 · StandaloneRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 33.18 | 30.37 | 24.28 | 27.46 | 30.06 | 22.66 | 26.70 |
| Revenue growth | +9.3% | +25.1% | -11.6% | -8.7% | +32.7% | -15.1% | - |
| EBITDA | 1.25 | 1.24 | 1.10 | 1.03 | 1.81 | 1.06 | 1.32 |
| EBITDA margin | +3.8% | +4.1% | +4.5% | +3.8% | +6.0% | +4.7% | +4.9% |
| Profit before tax | 0.01 | 0.23 | 0.09 | 0.08 | 0.91 | 0.05 | (0.08) |
| Net profit | 0.38 | 0.21 | 0.13 | 0.09 | 0.87 | 0.04 | (0.09) |
| Net profit margin | +1.2% | +0.7% | +0.5% | +0.3% | +2.9% | +0.2% | -0.3% |
| EPS (₹) | 0.03 | 0.41 | 0.22 | 0.15 | 1.82 | 0.11 | (0.18) |
| Balance sheet | |||||||
| Total assets | 16.68 | 14.62 | 14.58 | 14.83 | 11.95 | 11.51 | 13.15 |
| Net worth | 9.14 | 8.82 | 8.55 | 8.52 | 8.33 | 7.49 | 7.34 |
| Total debt | 7.47 | 5.80 | 6.03 | 6.32 | 3.63 | 4.03 | 5.82 |
| Cash & bank | 0.75 | 0.92 | 0.65 | 3.61 | 1.95 | 2.25 | 2.19 |
| Net working capital | 11.80 | 10.60 | 11.04 | 11.31 | 8.76 | 8.22 | 9.48 |
| Cash flow | |||||||
| Cash from operations | 0.06 | 1.90 | (1.91) | 0.05 | 1.02 | 2.43 | 1.65 |
| Cash from investing | (1.50) | (1.04) | 1.56 | (2.69) | (0.49) | (0.15) | (0.29) |
| Cash from financing | 1.28 | (0.59) | (0.60) | 2.30 | (0.83) | (2.22) | (1.22) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 10.72 | 8.41 | 7.87 | 9.65 | 7.25 | 6.60 | 9.77 | 6.95 |
| Revenue growth (YoY) | +47.9% | +27.4% | -19.5% | +38.9% | +2.8% | - | - | - |
| Other income | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 |
| Total expenses | 10.27 | 8.29 | 7.44 | 9.30 | 6.93 | 6.38 | 9.38 | 6.70 |
| EBITDA | 0.45 | 0.12 | 0.43 | 0.35 | 0.32 | 0.22 | 0.39 | 0.25 |
| EBITDA margin | +4.2% | +1.4% | +5.5% | +3.6% | +4.4% | +3.3% | +4.0% | +3.6% |
| Depreciation | 0.17 | 0.21 | 0.20 | 0.19 | 0.17 | 0.16 | 0.16 | 0.15 |
| Interest | 0.12 | 0.11 | 0.11 | 0.09 | 0.09 | 0.09 | 0.13 | 0.06 |
| Profit before tax | 0.17 | (0.19) | 0.12 | 0.07 | 0.06 | (0.02) | 0.10 | 0.04 |
| Tax | 0.01 | (0.01) | 0.00 | 0.01 | 0.01 | 0.01 | 0.00 | 0.01 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 10.72 | 8.41 | 7.87 | 9.65 | 7.25 | 6.60 | 9.77 | 6.95 |
| Revenue growth (YoY) | +47.9% | +27.4% | -19.5% | +38.9% | +2.8% | - | - | - |
| Other income | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 |
| Total expenses | 10.27 | 8.29 | 7.44 | 9.30 | 6.93 | 6.38 | 9.38 | 6.70 |
| EBITDA | 0.45 | 0.12 | 0.43 | 0.35 | 0.32 | 0.22 | 0.39 | 0.25 |
| EBITDA margin | +4.2% | +1.4% | +5.5% | +3.6% | +4.4% | +3.3% | +4.0% | +3.6% |
| Depreciation | 0.17 | 0.21 | 0.20 | 0.19 | 0.17 | 0.16 | 0.16 | 0.15 |
| Interest | 0.12 | 0.11 | 0.11 | 0.09 | 0.09 | 0.09 | 0.13 | 0.06 |
| Profit before tax | 0.17 | (0.19) | 0.12 | 0.07 | 0.06 | (0.02) | 0.10 | 0.04 |
| Tax | 0.01 | (0.01) | 0.00 | 0.01 | 0.01 | 0.01 | 0.00 | 0.01 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 33.18 | 30.37 | 24.28 | 27.46 | 30.06 | 22.66 | 26.70 |
| Revenue growth | +9.3% | +25.1% | -11.6% | -8.7% | +32.7% | -15.1% | - |
| Other income | 0.01 | 0.02 | 0.07 | 0.10 | 0.08 | 0.09 | 0.09 |
| Total expenses | 31.93 | 29.13 | 23.18 | 26.43 | 28.25 | 21.60 | 25.38 |
| Employee cost | 5.55 | 5.15 | 4.86 | 4.74 | 4.72 | 4.02 | 5.18 |
| EBITDA | 1.25 | 1.24 | 1.10 | 1.03 | 1.81 | 1.06 | 1.32 |
| EBITDA margin | +3.8% | +4.1% | +4.5% | +3.8% | +6.0% | +4.7% | +4.9% |
| Depreciation | 0.76 | 0.60 | 0.58 | 0.50 | 0.50 | 0.60 | 0.80 |
| Interest | 0.49 | 0.43 | 0.50 | 0.55 | 0.48 | 0.50 | 0.69 |
| Profit before tax | 0.01 | 0.23 | 0.09 | 0.08 | 0.91 | 0.05 | (0.08) |
| Tax | 0.00 | 0.02 | 0.01 | 0.00 | 0.04 | 0.01 | 0.00 |
| Net profit | 0.38 | 0.21 | 0.13 | 0.09 | 0.87 | 0.04 | (0.09) |
| Net profit margin | +1.2% | +0.7% | +0.5% | +0.3% | +2.9% | +0.2% | -0.3% |
| EPS (₹) | 0.03 | 0.41 | 0.22 | 0.15 | 1.82 | 0.11 | (0.18) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 4.83 | 4.83 | 4.83 | 4.83 | 4.83 | 4.83 | 4.83 |
| Reserves & surplus | 4.31 | 3.99 | 3.72 | 3.69 | 3.50 | 2.66 | 2.51 |
| Shareholders' funds (net worth) | 9.14 | 8.82 | 8.55 | 8.52 | 8.33 | 7.49 | 7.34 |
| Secured loans | 4.47 | 1.96 | 1.46 | 4.68 | 3.23 | 3.30 | 3.90 |
| Unsecured loans | 3.00 | 3.84 | 4.57 | 1.64 | 0.40 | 0.73 | 1.92 |
| Total debt | 7.47 | 5.80 | 6.03 | 6.32 | 3.63 | 4.03 | 5.82 |
| Total liabilities | - | - | 14.58 | 14.83 | 11.95 | 11.51 | 13.15 |
| Assets | |||||||
| Gross block | 19.22 | 18.32 | 17.25 | 18.82 | 19.50 | 18.92 | 18.57 |
| Net block | 3.45 | 3.31 | 2.84 | 2.83 | 2.67 | 2.59 | 2.84 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 0.12 | 0.00 | 0.00 | 0.06 |
| Investments | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 |
| Inventories | 9.11 | 7.57 | 8.45 | 6.46 | 5.47 | 5.28 | 5.42 |
| Sundry debtors | 5.28 | 4.35 | 4.67 | 4.18 | 4.76 | 3.13 | 4.48 |
| Cash & bank balances | 0.75 | 0.92 | 0.65 | 3.61 | 1.95 | 2.25 | 2.19 |
| Loans & advances | 1.72 | 0.99 | 0.64 | 0.72 | 0.75 | 1.03 | 0.69 |
| Total current assets | 16.86 | 13.83 | 14.41 | 14.97 | 12.93 | 11.69 | 12.78 |
| Total current liabilities | 5.06 | 3.23 | 3.37 | 3.66 | 4.17 | 3.47 | 3.30 |
| Net working capital | 11.80 | 10.60 | 11.04 | 11.31 | 8.76 | 8.22 | 9.48 |
| Total assets | 16.68 | 14.62 | 14.58 | 14.83 | 11.95 | 11.51 | 13.15 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 0.92 | 0.65 | 1.61 | 1.95 | 2.25 | 2.19 | 2.06 |
| Net cash from operating activities | 0.06 | 1.90 | (1.91) | 0.05 | 1.02 | 2.43 | 1.65 |
| Net cash from investing activities | (1.50) | (1.04) | 1.56 | (2.69) | (0.49) | (0.15) | (0.29) |
| Net cash from financing activities | 1.28 | (0.59) | (0.60) | 2.30 | (0.83) | (2.22) | (1.22) |
| Net change in cash | (0.17) | 0.27 | (0.96) | (0.34) | (0.30) | 0.06 | 0.13 |
| Closing cash | 0.75 | 0.92 | 0.65 | 3.61 | 1.95 | 2.25 | 2.19 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +9.3% | +25.1% | -11.6% | -8.7% | +32.7% | -15.1% | - |
| EBITDA growth | +0.8% | +12.7% | +6.8% | -43.1% | +70.8% | -19.7% | - |
| PBT growth | -95.7% | +155.6% | +12.5% | -91.2% | +1720.0% | +9998.0% | - |
| Net income growth | +81.0% | +61.5% | +44.4% | -89.7% | +2075.0% | +144.4% | - |
| Revenue CAGR (3Y) | +6.5% | +0.3% | +2.3% | +0.9% | -1.6% | -7.2% | +1.5% |
| EBITDA CAGR (3Y) | +6.7% | -11.8% | +1.2% | -7.9% | +3.8% | -12.5% | -0.5% |
| Profitability & leverage | |||||||
| Net income margin | +0.0% | +0.7% | +0.3% | +0.3% | +2.9% | +0.2% | -0.3% |
| Return on capital employed | +5.7% | +4.5% | +4.5% | +4.6% | +11.9% | +4.5% | +4.4% |
| Return on net worth | +4.3% | +2.3% | +1.9% | +1.0% | +11.1% | +0.7% | -1.4% |
| Debt / equity | 0.74 | 0.68 | 0.72 | 0.59 | 0.48 | 0.66 | 0.84 |
| Long-term debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.04 | 0.12 |
| Interest cover | 100.00 | 67.19 | 96.15 | 103.77 | 36.64 | 108.70 | 132.69 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 1.77 | 1.71 | 1.35 | 1.43 | 1.56 | 1.21 | 1.44 |
| Inventory turnover | 3.98 | 3.79 | 3.26 | 4.60 | 5.59 | 4.24 | 4.44 |
| Debtors turnover | 6.89 | 6.73 | 5.49 | 6.14 | 7.62 | 5.96 | 5.70 |
| EPS (₹) | 0.03 | 0.41 | 0.22 | 0.15 | 1.82 | 0.11 | (0.18) |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 18.93 | 18.28 | 17.70 | 17.64 | 17.25 | 15.50 | 15.21 |
Web traffic of Fine-Line Circuits
The website of Fine-Line Circuits (finelineindia.com) receives about 1.7K visits a month.
- Monthly visits1.7K
▼ 8.8% vs previous month
Websites whose visitors overlap most with Fine-Line Circuits. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| finelineglobal.com | 100% | – | #610,151 | View details | |
| finelinetech.com | 73% | 11.2K | #1,612,258 | View details |
Top companies in PCB & Electronic Components
10 companies that operate in the same segment as Fine-Line Circuits (PCB & Electronic Components), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Manufactures energy meters, monitors, and switchgear for power management and industrial applications. | 2004 | Bengaluru, Karnataka, India | – | – | – | |
Gala Precision Engineering is engaged in manufacturing precision components. | 2009 | Thane, Maharashtra, India | – | USD 33.25 M | 335 | |
Electronic safety embedded systems are manufactured for railway transport. | 2002 | Bengaluru, Karnataka, India | – | – | 383 | |
Manufacturer of printed circuit boards | 1999 | Hosur, Tamil Nadu, India | – | USD 33.63 M | 186 | |
Electronic, electromechanical, and PCB components are manufactured. | 1971 | Niedernhall, Baden-wurttemberg, Germany | – | – | – | |
Supplier of PCB | 1912 | Gifu, Gifu Prefecture, Japan | – | – | – | |
Printed circuit boards are manufactured by Aspocomp in Finland. | 1979 | Espoo, Finland | – | USD 44.83 M | 165 | |
Printed circuit boards are manufactured by ZDT in Taiwan. | 2006 | Taoyuan City, Taiwan | – | – | – | |
A conglomerate with diversified interests in property and finance. | 1963 | Kuala Lumpur, Malaysia | – | USD 465.74 M | – | |
High-performance copper-clad laminates and prepregs for PCBs are manufactured. | 1912 | Chandler, Arizona, United States | – | – | 295 |
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Related news about Fine-Line Circuits
Complete news archive for Fine-Line Circuits
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
- Older coverage
- Brand-specific news history
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Fine-Line Circuits
Fine-Line Circuits was founded in 1989.
Fine-Line Circuits is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Fine-Line Circuits has 145 employees.
The primary company behind Fine-Line Circuits, Fine-Line Circuits Limited, reported revenue of ₹30.38 Cr for FY 2025, up 25% year on year.
Fine-Line Circuits was established in 1989 in Mumbai, India, where operations center on the production of multi-layer printed circuit boards for the electronics sector. Advanced PCB manufacturing processes are utilized, including high-density interconnects and custom designs. Services encompass fabrication and assembly tailored to industry needs. The company is directed by Managing Director Abhay Doshi, with activities confined to the Indian market.
Fine-Line Circuits offers Printed Circuit Boards and High Frequency Microwave PCBs.
Yes, Fine-Line Circuits is publicly traded on BSE under the ticker symbol FINELINE.
Fine-Line Circuits operates through Fine-Line Circuits Limited.
The legal entities of Fine-Line Circuits currently have 10 directors, including Prema Radhakrishnan, Mansi Gupta, Gautam Bhagwandas Doshi and others.