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Buy Navin Fluorine International; target of Rs 4494: KR Choksey

KR Choksey is bullish on Navin Fluorine International has recommended buy rating on the stock with a target price of Rs 4494 in its research report dated October 21, 2021.

October 22, 2021 / 12:52 PM IST
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KR Choksey's research report on Navin Fluorine International

NFIL reported topline growth of 6.27% YoY (+3.93% QoQ) at INR 3,389 Mn. For H1FY22 revenue stood at INR 6,655 Mn showing a decent growth of (+24.65% YoY). EBITDA stood at INR 842 Mn, down by 7.27% YoY (+8.79% QoQ), with OPM at 24.85% (-363bps YoY), the decline in margin was mainly due to sharp rise in the raw material/input cost’s. For H1FY22 EBITDA was up by 12.03%. PAT for the quarter was at INR 632 Mn -1.86% YoY (+12.86% QoQ), with NPM at 18.65% (-1.55 Bps YoY). For H1FY22, PAT stood at INR 1,191 Mn (+1.45% YoY), with NPM at 17.90% in H1FY22. Net Cash flow from operations ended at INR 4,190 Mn in H1FY22 against INR 12,140 Mn in H1FY21. Declared an interim dividend of INR 5 per share of nominal value INR 2/- each (250%), aggregating to INR 247 Mn for the financial year 2021-2022. Appointed Mr. Basant Kumar Bansal as the new CFO w.e.f 1 November 2021.


We retain our BUY rating on the company and hence assign P/E multiple of 41.5x on FY24E EPS with same target price of INR 4,494/share, an upside of 33.58% to CMP.


For all recommendations report, click here

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

Broker Research
first published: Oct 22, 2021 12:52 pm

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