Motilal Oswal's research report on Navin Fluorine International
A part of the Padmanabh Mafatlal Group, Navin Fluorine International (NFIL) is one of the largest manufacturers of specialty fluorochemicals in the country. It has three business segments, viz., High Performance Products (HPP), Specialty Chemicals, and Contract Development & Manufacturing Services (CDMO). NFIL operates one of the largest integrated fluorochemicals complexes in India with manufacturing locations at Surat & Dahej in western India and Dewas in central India. We visited the company’s Dahej plant on 20th Apr’23, followed by a management meeting with Mr. Radhesh Welling, MD. Here are the key highlights.
Outlook
We value the company at 35x FY25E EPS to arrive at our TP of INR4,700. We maintain our Neutral rating on the stock owing to limited upside.
For all recommendations report, click here
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