Navin Fluorine International Ltd Share Price – NSE  /  BSE

Chemicals, Small Cap

Navin Fluorine International will hold a meeting of the Board of Directors of the Company on 7 May 2024.

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Navin Fluorine International has approved additional investment of Rs 250 crore in Navin Fluorine Advanced Sciences (NFASL), Wholly Owned Subsidiary, by subscribing to Non-Cumulative, Non-Convertible, Non-participating, Redeemable Preference Shares for repayment of the existing Inter Corporate Deposits and further business funding requirements of NFASL.

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Revenue from operations fell 10.96% to Rs 501.82 crore in Q3 FY24 as against Rs 563.58 crore recorded in Q3 FY23.

During the quarter profit before tax fell 26% YoY to Rs 97.15 crore.

Operating EBITDA stood at Rs 75.7 crore as on 31 December 2023, registering the de-growth of 51% YoY from Rs 155.6 crore recorded in the same quarter of the previous year. Operating EBITDA margin contracted to 15.1% in Q3 FY24 from 27.6% in Q3 FY23.

Revenue from Speciality Chemicals stood at Rs 177 crore (down 4.5% YoY), revenue from HPP was at Rs 251 crore (down 0.6% YoY) and CMDO business stood at Rs 73 crore (down 41.5%YoY) during the period under review.

Meanwhile, the company’s board has approved capital expenditure of Rs 288 crore for new cGMP-4 facility at Dewas unit of the company, to be spent in two or more phases and Rs 84 crore for expansion of HFC capacity at Surat unit of the company

Navin Fluorine International belongs to a reputed industrial house of Padmanabh Mafatlal Group in India. It has largest integrated fluorochemicals complex in India.The Company primarily focuses on fluorine chemistry - producing refrigeration gases, chemicals, inorganic bulk fluorides, specialty organofluorines and offers Contract Research and manufacturing services.

Shares of Navin Fluorine International shed 0.64% to Rs 3,416 on the BSE. It also hit an 52-week low at Rs 3,032 in intraday today.

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Net profit of Navin Fluorine International declined 26.78% to Rs 78.02 crore in the quarter ended December 2023 as against Rs 106.56 crore during the previous quarter ended December 2022. Sales declined 10.96% to Rs 501.82 crore in the quarter ended December 2023 as against Rs 563.58 crore during the previous quarter ended December 2022.

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