Navin Fluorine International Ltd (NAVINFLUOR)

Chemicals · Chemicals · NSE · Updated 1 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹8,676.4 ↑ 85.71% (1Y)

🎯 Key Takeaways

Navin Fluorine International is in a high-growth phase driven by strategic expansion in specialty chemicals and CDMO segments, supported by significant capex and strong margin execution. The company is transitioning from a stable chemical producer to a scaled player in high-margin, innovation-driven segments, evidenced by robust top-line growth and improving profitability metrics.
Revenue grew 11.5% QoQ to ₹1,045 in Q1FY27.
⚠️ The ESG rating was assigned by Crisil based on publicly available data without prior engagement, which may not fully reflect the company's sustainabil

Market Cap

₹44,502

P/E Ratio

56.3

P/B Ratio

11.20

ROE

19.9%

ROCE

22.2%

Debt/Equity

0.31

Div Yield

0.17%

Promoter

27.1%

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📖 The Story

Navin Fluorine International is in a high-growth phase driven by strategic expansion in specialty chemicals and CDMO segments, supported by significant capex and strong margin execution. The company is transitioning from a stable chemical producer to a scaled player in high-margin, innovation-driven segments, evidenced by robust top-line growth and improving profitability metrics.

📰 What's Happening

In Q1 FY27, the company reported consolidated revenue of ₹1,045.1 Crs, up 44% YoY and 11% QoQ, fueled by 48% growth in Specialty Chemicals, 33% in HPP, and 82% in CDMO. Operating EBITDA surged 73% YoY to ₹357.1 Crs with margin expansion of 566 bps to 34.2%, and Operating PBT rose 101% YoY to ₹283.3 Crs. Management highlighted ongoing capex of ₹236.5 Crs for HFC capacity expansion (targeting commissioning by Q3 FY27) and ₹125 Crs for CDMO Phase II (targeting Q4 FY27 operationalization). Additionally, CARE Ratings upgraded the company's long-term bank facility rating to AA+ and its subsidiaries to AA/AA+, reflecting improved creditworthiness. An ESG rating of 62/66 was assigned by Crisil, based on public data, highlighting sustainability progress but without prior engagement.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	758	892	938	1,045
Operating Profit	210	271	280	315
OPM %	27.6%	30.4%	29.9%	30.2%
Net Profit	148	185	213	243
EPS	₹29.06	₹36.18	₹41.49	₹47.45

Revenue has grown consistently from ₹758 Crs in Sep 2025 to ₹1,045.1 Crs in Jun 2026, with YoY growth accelerating to 44% in Q1 FY27. Operating margins have remained stable above 27%, while operating EBITDA margin expanded significantly to 34.2% in Q1 FY27, indicating operating leverage and pricing power. Net profit and EPS have risen steadily from ₹148 Crs/₹29.06 in Sep 2025 to ₹243 Crs/₹47.45 in Jun 2026, reflecting margin expansion and scale benefits from ongoing capex. The company is investing heavily in capacity expansion, with ₹236.5 Crs allocated to HFC projects and ₹125 Crs to CDMO Phase II, both targeted for completion by Q3 and Q4 FY27 respectively, which should sustain growth momentum.

🔮 Management Outlook & What's Next

Management has outlined a clear expansion roadmap, targeting commissioning of HFC capacity expansion by Q3 FY27 and CDMO Phase II by Q4 FY27, which are expected to drive future scale and margin accretion. The company is focused on capitalizing on growth in specialty chemicals and CDMO segments, with an emphasis on sustainability through a ₹15.73 Crs investment in a hybrid power plant to achieve 60% renewable energy usage by 2030. Credit rating upgrades by CARE further support management's confidence in financial resilience and long-term strategic direction.

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

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2025	Mar 2026	Mar 2026
Equity Capital	10	10	10	10
Reserves	2,460	2,616	3,591	3,964
Borrowings	1,384	1,466	1,177	1,226
Total Liabilities	4,441	4,830	5,643	6,379
Fixed Assets	1,847	2,646	2,681	3,275
Investments	408	480	798	1,277
Total Assets	4,441	4,830	5,643	6,379

The balance sheet shows a healthy capital structure with equity of ₹10 Crs and reserves growing from ₹2,616 Crs in Mar 2025 to ₹3,964 Crs in Mar 2026, indicating retained earnings accumulation. Borrowings have declined from ₹1,466 Crs to ₹1,226 Crs over the same period, suggesting deleveraging or reduced reliance on debt. Total assets have grown steadily from ₹4,830 Crs to ₹6,379 Crs, reflecting investments in capacity and operations. The company is funding growth through a combination of internal accruals and manageable debt levels, with a focus on strengthening equity base and reserves.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2026
Operating	+894
Investing	-1,235
Financing	+344
Net Cash Flow	+3

👥 Shareholding Pattern

Category	Q2FY26	Q3FY26	Q4FY26	Q1FY27
Promoters	27.1%	27.1%	27.1%	27.1%
FII	22.1%	23.7%	23.8%	23.7%
DII	29.6%	28.1%	27.6%	28.5%
Public	16.7%	16.6%	17.0%	16.3%
# Shareholders	1,37,981	1,37,798	1,43,987	1,38,594

Promoter holding has remained stable around 27.1% over the last four quarters, indicating no significant dilution or stake sale. FII holding has slightly increased from 22.15% in Q2FY26 to 23.73% in Q1FY27, while DII has fluctuated between 27.62% and 28.09%, showing consistent institutional interest. Public shareholding has declined slightly from 16.96% to 16.25%, but the number of shareholders has increased from 1,37,798 to 1,38,594, suggesting broader retail participation. Overall, institutional investors (FII + DII) hold approximately 52.19% in Q1FY27, up from 51.71% in Q2FY26, indicating growing confidence among professional investors.

⚖️ Peer Comparison — Chemicals

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
PIDILITIND	1.67 L Cr	63.2	33.4%	24.7%	0.01
SRF	75,831	35.1	15.6%	15.4%	0.36
LINDEINDIA	54,443	99.7	17.5%	12.8%	0.00
FLUOROCHEM	51,528	84.2	9.6%	7.7%	0.34
NAVINFLUOR	44,502	56.3	22.2%	19.9%	0.31
GODREJIND	38,256	32.5	9.2%	19.8%	4.57
HSCL	33,181	41.2	20.7%	17.1%	0.16
DEEPAKNTR	23,850	30.4	15.3%	13.4%	0.26
AETHER	22,459	95.2	13.8%	10.6%	0.08
AARTIIND	19,021	35.8	9.2%	9.5%	0.68

🔗 Peer Stock Analyses

PIDILITIND SRF LINDEINDIA FLUOROCHEM GODREJIND

⚠️ Risk Factors

1. The ESG rating was assigned by Crisil based on publicly available data without prior engagement, which may not fully reflect the company's sustainability practices and could limit credibility with ESG-focused investors. 2. Capex plans for HFC and CDMO expansions are targeted for commissioning by Q3 and Q4 FY27, but delays or cost overruns could impact growth trajectory and margin expectations. 3. Despite margin expansion, the company operates in capital-intensive chemical segments where input cost volatility or regulatory changes could pressure profitability. 4. High growth expectations from new segments may require sustained investment, potentially affecting near-term cash flows or return ratios.

📋 Recent Filings

🧠 Analyst's Read

Navin Fluorine is executing a clear growth strategy with strong operational momentum, supported by margin expansion, rising profitability, and targeted capex in high-growth segments. The key near-term watchpoints are the timely execution of HFC and CDMO expansions, sustainability of margin trends, and management's ability to deliver on ESG commitments. Investors should monitor progress on project commissioning timelines and evolving credit and ESG ratings as indicators of execution discipline and long-term resilience.

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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