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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