Navin Fluorine International Limited (NAVINFLUOR)

Chemicals · Chemicals & Petrochemicals · NSE · Updated 15 July 2026

₹7,618 ↑ 49.94% (1Y)

🎯 Key Takeaways

Navin Fluorine International Limited is in a high-growth phase driven by strategic capacity expansion in specialty chemicals and HFC segments, supported by strong margin improvement and robust profitability. The company has transitioned from cyclical volatility to sustained growth, evidenced by multi-year highs in margins, returns, and dividend payouts, positioning it as a structurally improving player in the chemicals space.
Revenue grew 16.9% QoQ to ₹606 in Q3FY25.
⚠️ Execution risk around timely commissioning of HFCMPP and Chemours projects beyond Q3 FY27, which are critical for margin sustainability.

Market Cap

₹35,894

P/E Ratio

131.5

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

Navin Fluorine International Limited is in a high-growth phase driven by strategic capacity expansion in specialty chemicals and HFC segments, supported by strong margin improvement and robust profitability. The company has transitioned from cyclical volatility to sustained growth, evidenced by multi-year highs in margins, returns, and dividend payouts, positioning it as a structurally improving player in the chemicals space.

📰 What's Happening

In Q4 FY26, the company reported 34% YoY revenue growth to Rs. 937.7 Crores and 124% YoY PAT growth, with Operating EBITDA up 80% YoY to Rs. 321.2 Crores and margin expanding 875 bps to 34.2%. Management highlighted commissioning of 32 MPP HFC capacity and the Chemours project by end June/early July FY27, targeting 70-75% capacity utilization in FY27. A final dividend of INR8.60 per share (430% of face value) was declared, subject to AGM approval, with record date set for June 12, 2026. The board reappointed Vishad P. Mafatlal as executive chairman for five years until August 19, 2031, and confirmed an unmodified audit opinion with a ₹11.91 crore reversal of labor law liabilities in Q4 FY26.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q4FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	697	491	472	502	602	524	519	606
Operating Profit	206	123	121	140	123	111	119	158
OPM %	28.9%	23.3%	20.8%	15.1%	18.3%	19.2%	20.7%	24.3%
Net Profit	136	62	61	78	70	51	59	84
EPS	₹27.51	₹12.41	₹12.22	₹15.74	₹14.20	₹10.33	₹11.86	₹16.86

Revenue growth has been consistently accelerating, with Q4 FY26 revenue at Rs. 937.7 Crores up 34% YoY and full-year FY26 sales up 41% YoY to Rs. 3,313.9 Crores, driven by specialty chemicals and HPP segments. Operating margins have expanded significantly, with Q4 FY26 EBITDA margin at 34.2% (up 875 bps YoY), reflecting pricing power and cost efficiency. Profitability metrics show PAT growth of 124% YoY in Q4 FY26, ROE at 24.6%, and ROCE at 21%, indicating strong capital efficiency. Capex of Rs. 236.5 Crores is underway for HFCMPP expansion targeting commissioning by Q3 FY27, with additional capacity of 15,000 MTPA of R32 planned.

🔮 Management Outlook & What's Next

Management expects 30% full-year margin guidance for FY27, with 70-75% capacity utilization targeted, supported by ongoing capex and project completions. Working capital is expected to remain stable at 75-80 days, and order visibility remains strong across specialty chemicals and CDMO segments. The company emphasized healthy working capital management (74 days), no supply disruptions, and successful pass-through of raw material inflation to customers. The Chemours project and HFC capacity expansion are central to future growth, with completion expected by end June/early July FY27.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Chemicals & Petrochemicals

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
Solar Industries India Limited	1.57 L Cr	132.3	—	—	—
Pidilite Industries Limited	1.49 L Cr	75.7	—	—	—
SRF Limited	79,723	69.5	—	—	—
Linde India Limited	62,701	141.9	—	—	—
Gujarat Fluorochemicals Limited	40,793	89.6	—	—	—
Navin Fluorine International Limited	35,894	131.5	—	—	—
Himadri Speciality Chemical Limited	30,071	56.6	—	—	—
Deepak Nitrite Limited	24,911	33.3	—	—	—
Atul Limited	20,904	48.8	—	—	—
Tata Chemicals Limited	19,079	-47.1	—	—	—

🔗 Peer Stock Analyses

SOLARINDS PIDILITIND SRF LINDEINDIA FLUOROCHEM

⚠️ Risk Factors

1. Execution risk around timely commissioning of HFCMPP and Chemours projects beyond Q3 FY27, which are critical for margin sustainability. 2. Raw material price volatility and potential delays in passing on inflationary pressures could pressure margins. 3. Regulatory and compliance risks related to labor law changes and environmental norms, despite current stability. 4. High dividend payout may limit reinvestment capacity if growth opportunities arise unexpectedly.

📋 Recent Filings

🧠 Analyst's Read

Navin Fluorine is transitioning into a structurally stronger growth phase with improving margins, high returns, and strategic capex driving future capacity. Investors should monitor execution of the Chemours and HFCMPP projects, margin guidance for FY27, and sustained order visibility in specialty segments as key near-term catalysts.

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 2026-07-15.

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