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Navin Fluorine: Diversification away from agrochemicals to set it apart

Navin Fluorine is increasingly looking towards fluoro applications in performance materials. Among the new product platforms to watch out for would be those of fluoropyridine

July 26, 2022 / 06:07 PM IST
Navin Fluorine: Diversification away from agrochemicals to set it apart

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

Navin Fluorine (CMP: Rs 4,208; Market cap: Rs 20,836 crore) has posted a strong set of Q1FY23 numbers on the margin front, despite raw material and logistic headwinds. Specialty chemicals (+32 percent YoY) and legacy businesses (+33 percent YoY)  posted a strong top-line growth, which was offset by a drop in CDMO revenue (-12 percent YoY). Both the inorganic fluoride and refrigerant gas business benefited from better pricing and volumes. Specialty chemicals witnessed better business visibility, driven by repeat orders from...

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