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Navin Fluorine shares fall 3% post Q4 results: Here's what brokerages say

Navin Fluorine reported a revenue from operations of ₹700.94 crore in Q4 FY25, up 16.44 per cent year-on-year (Y-o-Y) from ₹601.95 crore in the year-ago period Devanshu Singla New Delhi Navin Fluorine International share price today: Shares of speciality fluorochemicals company Navin Fluorine International fell over 3 per cent to hit an intra-day low of ₹4,435 on Monday after the company reported its March 2025 quarter (Q4FY25) results. At 2:10 PM on Monday, Navin Flourine's stock was quoting at ₹4,444, down 3.3 per cent on the National Stock Exchange (NSE). In comparison, the benchmark Nifty50 index was trading at 24,842.25, up 834.25 points or 3.5 per cent. The stock reversed gains after hitting a 52-week high of ₹4,748 in today's trading session. The company's total market capitalisation stood at ₹22,030.47 crore. Navin Fluorine Q4 FY25 result update Navin Fluorine reported a revenue from operations of ₹700.94 crore in Q4 FY25, up 16.4 per cent year-on-year (Y-o-Y) from ₹601.95 crore in the year-ago period. The company's earnings before interest, tax, depreciation and amortisation (Ebitda) rose 62.4 per cent to ₹178.71 crore compared to ₹110.04 crore in the corresponding quarter of the previous fiscal. Ebitda margin improved 721 basis points (bps) to 25.5 per cent from 18.3 per cent. The company's profit after tax (PAT) came in at ₹94.98 crore, up 35 per cent from ₹70.38 crore in the year-ago period. According to the MOFSL report, with the increasing use of fluorine in the pharma and agro space, battery chemicals, and performance materials, the CDMO (Contract Development and Manufacturing Organisation) business of Navin Flourine is expected to grow at a compound annual growth rate (CAGR) of 53 per cent of over FY25-27. The company has already identified opportunities in its segments, such as a capability capex in speciality chemicals with ₹360 million in peak revenue, Fermion contract with a value of $30 million over three years, and a strategic agreement with Chemours to set up an initial commercial capacity for manufacturing of an innovative liquid cooling product, which is expected to be commissioned in Q1 FY27. Citing expensive valuations, the brokerage has maintained a 'Neutral' rating on the stock with a target price (TP) of ₹5,060. Axis Securities According to analysts at Axis Securities, Navin Fluorine continues to prioritise business expansion, enhancement of its technology capabilities, development of strategic partnerships and long-term sustainable growth. "While we acknowledge upside risks in terms of quicker-than-expected ramp-up in utilisation levels and contributions from new products, we believe the stock has already priced in most positives, and a further re-rating would depend on the successful execution and validation of growth initiatives," the brokerage said in a research note. Axis Securities has downgraded the stock from 'Buy' to 'Hold'; however, raised the target price to ₹4,440 from ₹4,300 earlier. PL Capital The brokerage firm says that the recent expansion of R-32 capacity by 5,000 mtpa was commercialised in March 2025 and is already operating at optimal utilisation levels. Additionally, the ongoing capex for AHF (Anhydrous Hydrogen Fluoride) is on track for commissioning by the September 2026 quarter (Q2 FY26). The company's speciality chemicals segment remained flat Y-o-Y, with both the Dahej and Surat facilities running at optimal capacity. According to the research note, the company management has indicated strong order visibility for FY26, with two new molecules scheduled to begin commercial supplies in Q1 FY26. "We believe long-term fundamentals of the company are intact. The strong order pipeline, expanding capacity, and improving realisations are expected to be key growth drivers going forward," the brokerage said. It has maintained an 'Accumulate' rating on the stock. Established in 1967, Navin Fluorine International is one of the largest speciality fluorochemical manufacturers in India. It is primarily engaged in the production of refrigeration gases, inorganic fluorides, speciality organofluorines and offers contract research and manufacturing services. The company's portfolio includes more than 50 fluorinated compounds with manufacturing facilities in Surat and Dahej in Gujarat and Dewas in Madhya Pradesh. Its Surat facility specialises in the manufacturing of refrigerants, various organic and inorganic fluorides.