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Hold Navin Fluorine: target of Rs 3710: ICICI Direct

ICICI Direct recommended hold rating on Navin Fluorine with a target price of Rs 3710 in its research report dated July 28, 2021.

July 29, 2021 / 01:45 PM IST
 
 
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ICICI Direct's research report on Navin Fluorine


Navin Fluorine (NFIL) operates one of the largest integrated fluorochemicals complexes in India with a presence in speciality chemicals, CRAMS, inorganic fluoride and refrigerant segments. The company has two manufacturing facility in Surat and Dewas while it is setting up a new greenfield capacity at Dahej In terms of revenue contribution, speciality chemical constitutes 40% of overall revenue followed by CRAMS of 25% and rest from refrigerant (~18%) and inorganic fluoride (~17%) businesses


Outlook


We retain HOLD rating on the back of better growth outlook from value added segments such as CRAMS and speciality chemical We value Navin Fluorine at 40x P/E FY24E EPS to arrive at a revised target price of Rs 3710/share (earlier Rs 3460/share).


For all recommendations report, click here

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first published: Jul 29, 2021 01:45 pm
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