Accumulate Navin Fluorine International; target of Rs 6441: Prabhudas Lilladher

Prabhudas Lilladher recommended accumulate rating on Navin Fluorine International with a target price of Rs 6441 in its research report dated November 14, 2025.

Broker Research

November 17, 2025 / 12:57 IST

Accumulate

26 Aug, 2025 12:21

Volume

Todays L/H

Prabhudas Lilladher's research report on Navin Fluorine International

With its expertise in fluorine chemistry and deep relationship with pharma innovator companies developed over years, CDMO segment of Navin Fluorine (NFIL) is expected to deliver a strong 39% CAGR in FY25-28E. Our deep dive suggests that sales of darolutamide has risen by a CAGR of 56.6% in past 3 years (for Orion to Bayer) and is likely to reach peak sales of +USD3bn (to market). Additionally, the intermediate being supplied to GSK is likely for a product which is expected to be commercialized in 2027 and is also expected to be a blockbuster drug (annual sales >USD1bn). NFIL showed a strong upside post its Q2FY26 results and has given a return of 81.6% in past one year. It is currently trading at 39x FY28 EPS of Rs155.8 (consensus Rs156.4). With several potential triggers in place, the company’s EPS may witness further upgrades going forward, supporting additional upside in the stock.

Outlook

Accordingly, we raise our target price to Rs6,441 (from Rs5,601 earlier), valuing it at 46x Sep’27 EPS, and maintain our Accumulate recommendation.

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