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Navin Fluorine: CRAMS to aid near term growth guidance, stock fairly valued

Navin Fluorine's legacy businesses -refrigerants and inorganic fluoride businesses - are expected to remain lacklustre in the near term

October 30, 2020 / 10:03 AM IST
Navin Fluorine: CRAMS to aid near term growth guidance, stock fairly valued

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights - Q2 FY21 results aced by CRAMS - Stake sale in CCPL for a more focused attention on the base business - Likely to announce capex for specialty chemicals - Evaluating other verticals for fluorine applications - Capacity constraints may moderate FY22 growth; valuation is fair Navin Fluorine’s (CMP: Rs 2,278, Market cap: Rs 11,275 crore) high value businesses -specialty chemicals and CRAMS (Contract research and manufacturing services)– were once again a key driver of topline growth in the quarter gone by. A ramp-up in the new CRAMS facility...

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