Buy Navin Fluorine International; target of Rs 3115: Dolat Capital Market

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

Dolat Capital Market's research report on Navin Fluorine International

Navin Fluorine International Ltd (NFIL) reported a healthy consolidated sales growth of 18.7% YoY to Rs 3.09bn (marginal sequential de-growth of 3.1%). EBITDA grew by 22.9% YoY to Rs 805mn and PAT growth stood at 29.7% YoY to Rs 589mn. NFIL’s growth momentum in new-age businesses aided higher profitability, as order enquiries in CRAMS and small de-bottlenecking capex’ bear fruits. Headwinds in refrigerant gases are yet to relinquish, as realisations and volumes of R-22 gas continue to be under-pressure. While Inorganic fluorides business has now seen a couple of client addition – which could improve growth visibility in ensuing quarters.

Outlook

We have fine-tuned our estimates and upgrade our rating to Buy. We have a target price of Rs 3,115/share on the basis of SOTP valuation (Exhibit 1) on FY24E EBITDA.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.