Gujarat Fluorochemicals Ltd (FLUOROCHEM)
🎯 Key Takeaways
- Gujarat Fluorochemicals Ltd is transitioning from a mature chemical manufacturer into a growth-oriented, sustainability-driven enterprise, evidenced by strong sequential financial recovery, margin expansion, and strategic ESG commitments. The company is in a turnaround and early growth phase, leveraging operational improvements and capital discipline to enhance profitability while investing in long-term decarbonization.
- Revenue grew 16% QoQ to ₹1,588 in Q1FY27.
- ⚠️ Revenue volatility persists despite sequential growth, with no clear indication of sustainable demand drivers beyond short-term operational improvemen
📖 The Story
Gujarat Fluorochemicals Ltd is transitioning from a mature chemical manufacturer into a growth-oriented, sustainability-driven enterprise, evidenced by strong sequential financial recovery, margin expansion, and strategic ESG commitments. The company is in a turnaround and early growth phase, leveraging operational improvements and capital discipline to enhance profitability while investing in long-term decarbonization.
📰 What's Happening
In Q1 FY27 (June 2026), the company reported revenue of ₹1,588 Cr, up from ₹1,369 Cr in Q4 FY26, with net profit surging to ₹219 Cr from ₹100 Cr, driven by improved operating performance and margin expansion to 20.5%. Management presented these results at investor conferences, including the Ashwamedh-Elara Dialogue on September 2, 2026, where no unpublished price-sensitive information was disclosed. The firm also filed its BRSR report on August 27, 2026, outlining a net zero roadmap targeting Scope 1 and 2 emissions by 2040 and 2050 across the value chain, alongside expanded renewable energy and water recycling initiatives. Additionally, a final dividend of ₹3 per share (300% on face value) was proposed for FY25-26, with payment contingent on AGM approval on September 24, 2026.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | 1,281 | 1,210 | 1,136 | 1,369 | 1,588 |
| Operating Profit | 254 | 273 | 186 | 211 | 326 |
| OPM % | 19.8% | 22.6% | 16.4% | 15.4% | 20.5% |
| Net Profit | 184 | 179 | 102 | 100 | 219 |
| EPS | ₹16.75 | ₹16.31 | ₹9.29 | ₹9.92 | ₹20.17 |
The company has demonstrated a clear upward trajectory in profitability and operational efficiency, with revenue growing sequentially from ₹1,136 Cr in December 2025 to ₹1,588 Cr in June 2026, while OPM improved to 20.5% from 15.4% in the prior quarter. Net profit nearly doubled to ₹219 Cr, and EPS rose to ₹20.17, reflecting stronger earnings momentum. This improvement aligns with management’s focus on margin enhancement and operational excellence, although revenue growth remains volatile quarter-over-quarter, with peaks in September 2025 (₹1,210 Cr, 22.6% OPM) and troughs in June 2025 (₹1,281 Cr, 19.8% OPM). The financial trend supports management’s narrative of a recovery phase driven by cost optimization and product mix benefits.
🔮 Management Outlook & What's Next
Management has expressed a forward-looking commitment to sustainability and long-term value creation, targeting net zero emissions by 2040 (Scope 1 and 2) and 2050 across the value chain. The BRSR report highlights expanded renewable energy projects, water stewardship, and waste recovery as key focus areas. While no formal financial guidance was provided in the latest filings, management emphasized the importance of ESG integration as a strategic imperative. The company continues to prioritize capital discipline, with no announced capex plans disclosed in recent filings, suggesting investments are being evaluated within existing cash flow generation capabilities.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 11 | 11 | 11 | — |
| Reserves | 6,128 | 7,242 | 7,606 | 7,805 |
| Borrowings | 2,179 | 2,080 | 1,722 | 2,629 |
| Total Liabilities | 9,498 | 10,609 | 10,618 | 11,883 |
| Fixed Assets | 4,418 | 4,233 | 4,155 | 4,832 |
| Investments | 1 | 290 | 56 | 277 |
| Total Assets | 9,498 | 10,609 | 10,618 | 11,883 |
The balance sheet shows a stable capital structure with equity of ₹11 Cr and reserves growing to ₹7,805 Cr as of March 2026, up from ₹7,242 Cr in March 2025. Borrowings declined to ₹2,629 Cr from ₹2,080 Cr over the same period, indicating a deliberate reduction in leverage despite asset growth. Total assets increased to ₹11,883 Cr, suggesting operational expansion is being funded through retained earnings and modest debt reduction. This reflects a conservative capital allocation strategy, with no major acquisitions or large-scale capex announcements, and a focus on strengthening financial resilience while supporting growth.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 | Mar 2026 |
|---|---|---|
| Operating | +545 | +961 |
| Investing | -1,121 | -1,168 |
| Financing | +599 | +367 |
| Net Cash Flow | +24 | +160 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 61.4% | 61.4% | 61.4% | 61.4% |
| FII | 4.4% | 4.3% | 4.3% | 4.4% |
| DII | 12.7% | 12.8% | 13.5% | 13.3% |
| Public | 14.5% | 14.5% | 14.0% | 14.1% |
| # Shareholders | 66,493 | 64,664 | 62,703 | 61,120 |
Promoter holding remains stable at 61.39% across all quarters, indicating confidence in long-term prospects. Institutional interest is rising, with FII shareholding increasing to 4.41% in Q1FY27 from 4.28% in Q4FY26, and DII also showing slight accumulation. The number of public shareholders has declined slightly from 66,493 in Q2FY26 to 61,120 in Q1FY27, but this may reflect consolidation rather than exit. No significant selling by promoters or institutions is evident, and the stable promoter stake combined with growing institutional participation suggests improving investor sentiment.
⚖️ Peer Comparison — Chemicals
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| PIDILITIND | 1.66 L Cr | 62.6 | 33.4% | 24.7% | 0.01 |
| SRF | 76,916 | 35.6 | 15.6% | 15.4% | 0.36 |
| LINDEINDIA | 55,474 | 101.5 | 17.5% | 12.8% | 0.00 |
| FLUOROCHEM | 52,441 | 85.7 | 9.6% | 7.7% | 0.34 |
| NAVINFLUOR | 43,655 | 55.2 | 22.2% | 19.9% | 0.31 |
| GODREJIND | 39,359 | 33.5 | 9.2% | 19.8% | 4.57 |
| HSCL | 33,953 | 42.2 | 20.7% | 17.1% | 0.16 |
| DEEPAKNTR | 24,047 | 30.7 | 15.3% | 13.4% | 0.26 |
| AETHER | 22,519 | 95.5 | 13.8% | 10.6% | 0.08 |
| AARTIIND | 19,602 | 36.9 | 9.2% | 9.5% | 0.68 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Revenue volatility persists despite sequential growth, with no clear indication of sustainable demand drivers beyond short-term operational improvements. 2. High P/E of 85.7 suggests market expectations may be pricing in aggressive future growth, which could be vulnerable to macroeconomic or commodity price shocks. 3. While margins have improved, OPM remains below historical peaks (e.g., 22.6% in Sep 2025), indicating potential headwinds from input costs or pricing pressure. 4. No disclosed capex or expansion plans may limit long-term growth visibility, especially in a capital-intensive chemical sector requiring reinvestment.
📋 Recent Filings
-
🟡 sustainability report 27 August 2026Gujarat Fluorochemicals Limited (GFL) filed its Business Responsibility and Sustainability Report (BRSR) for FY2025-26 on August 27, 2026, as mandated...
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🔴 Corporate Action 27 August 2026Gujarat Fluorochemicals announced a final dividend of Rs 3 per share, representing a 300% payout on face value, for shareholders of record on 17 Septe...
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🟡 Board Meeting 27 August 2026Gujarat Fluorochemicals Ltd announced its Eighth Annual General Meeting on 24 September 2026 at 11:30 AM IST via Video Conferencing, where shareholder...
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🔴 Corporate Action 27 August 2026Gujarat Fluorochemicals announced a final dividend of Rs 3 per share (300% of face value) for FY 2025-26, with a record date of 17 September 2026. The...
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🔴 annual report 27 August 2026Gujarat Fluorochemicals Ltd (FLUOROCHEM) reported consolidated revenue of ₹4,996 Crores for FY 2025-26, up 5% YoY, with EBITDA at ₹1,291 Crores (26% m...
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🔴 Financial Results 26 August 2026Gujarat Fluorochemicals Limited announced its representatives will attend the Ashwamedh - Elara India Dialogue 2026 on September 2, 2026, in Mumbai, w...
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Announcement 25 August 2026Gujarat Fluorochemicals announced a special dematerialisation window for physical shares sold before April 1, 2019, running from February 5, 2026 to F...
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Announcement 19 August 2026Gujarat Fluorochemicals reported strong Q1 FY27 results with revenue up 24% YoY to ₹1,588 crores and EBITDA margin expanding to 27%, driven by robust ...
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🔴 Financial Results 12 August 2026Gujarat Fluorochemicals Limited announced participation in the Motilal Oswal 22nd Annual Global Investor Conference on 19 August 2026, where it will p...
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🟡 Board Meeting 12 August 2026The Board approved director reappointments including Dr. Bir Kapoor and Mr. Niraj Agnihotri for terms ending 2029 and 2027, while appointing Mr. Jigne...
🧠 Analyst's Read
Gujarat Fluorochemicals is emerging as a turnaround story with improving profitability and a clear sustainability strategy, supported by strong Q1 FY27 results and strategic ESG commitments. Investors should monitor upcoming investor presentations for clarity on growth drivers, capex plans, and margin sustainability, as the company navigates the transition from operational recovery to scalable growth.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-01.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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