Navin Fluorine International Limited – Investor Presentation Summary

Key Operational Highlights

  • H1 FY27 Sales: ₹2,235.8 Cr, +51% YoY
  • Operating EBITDA: ₹764.5 Cr, +69% YoY
  • Operating EBITDA Margin: 34.2%, +367 bps YoY
  • Operating PBT: ₹619.2 Cr, +93% YoY
  • Q2 FY27 Sales: ₹1,190.7 Cr, +57% YoY, +14% QoQ
  • Q2 FY27 Operating EBITDA: ₹407.5 Cr, +66% YoY, +14% QoQ
  • Q2 FY27 Operating PBT: ₹336.0 Cr, +87% YoY, +19% QoQ

Segment-wise Performance

  • HPP Revenue: ₹1,144 Cr, +41% YoY growth
  • Specialty Chemicals Revenue: ₹673 Cr, +53% YoY growth
  • CDMO Revenue: ₹419 Cr, +80% YoY growth
  • Q2 FY27 HPP Revenue: ₹604 Cr, +49% YoY
  • Q2 FY27 Specialty Chemicals Revenue: ₹348 Cr, +58% YoY
  • Q2 FY27 CDMO Revenue: ₹239 Cr, +78% YoY

Financial Highlights

H1 FY27 Financials

  • Revenue: ₹2,235.82 Cr
  • EBITDA: ₹764.52 Cr
  • PAT: ₹512.55 Cr
  • EPS: Not Specified
  • Gross Profit Margin: 56.92% (-125 bps YoY)
  • Operating EBITDA Margin: 34.19% (+367 bps YoY)
  • Operating PBT Margin: 27.70% (+610 bps YoY)
  • PAT Margin: 22.92% (+503 bps YoY)

Q2 FY27 Financials

  • Revenue: ₹1,190.74 Cr
  • EBITDA: ₹407.45 Cr
  • PAT: ₹269.24 Cr
  • Gross Profit Margin: 56.88% (-186 bps YoY)
  • Operating EBITDA Margin: 34.22% (+176 bps YoY)
  • Operating PBT Margin: 28.21% (+457 bps YoY)
  • PAT Margin: 22.61% (+305 bps YoY)

Geographical Revenue Split

  • HPP Geographic Mix: 67% Domestic, 33% Export
  • CDMO Geographic Mix: 97% Export, 3% Domestic
  • Specialty Chemicals Geographic Mix: Not Specified

Balance Sheet Snapshot

Consolidated (Sep 2026)

  • Total Assets: ₹6,830.59 Cr
  • Total Equity: ₹4,462.34 Cr
  • Reserves & Surplus: ₹4,289.20 Cr
  • Borrowings: ₹1,207.11 Cr (Non-current: ₹901.99 Cr, Current: ₹305.12 Cr)
  • Cash & Cash Equivalents: ₹48.50 Cr
  • Inventories: ₹431.28 Cr
  • Trade Receivables: ₹889.19 Cr

Standalone (Sep 2026)

  • Total Assets: ₹4,826.58 Cr
  • Total Equity: ₹4,035.60 Cr
  • Reserves & Surplus: ₹3,874.29 Cr
  • Cash & Cash Equivalents: ₹29.93 Cr
  • Inventories: ₹195.89 Cr
  • Trade Receivables: ₹648.93 Cr

Capex & Cash Flow Health

Ongoing Capex Program

  • HFC Capacity Expansion: ₹236.5 Cr for additional capacity equivalent to 15,000 MTPA of R32, to be commissioned shortly
  • Chemours Project: ₹120 Cr (35% funded by customer), targeted commissioning by Q3 FY27
  • Renewable Power Project: ₹15.73 Cr for 14.9 MW hybrid capacity
  • Advanced Materials: ₹90 Cr, completion by Q2 FY28
  • Phase II cGMP4: ₹125 Cr, completion by end Q4 FY27

Cash Flow (H1 FY27 Consolidated)

  • Net Cash from Operating Activities: ₹456.46 Cr
  • Cash Flow from Investing Activities: (₹321.68) Cr
  • Cash Flow from Financing Activities: (₹108.83) Cr
  • Net increase in Cash: ₹25.95 Cr

Strategic & R&D Initiatives

  • HFO supply contract with Solstice Advanced Materials extended by 4 years over original 7 years, with additional revenue potential of ~$180 million
  • Total contract value now ~$590 million over 11 years
  • De-bottlenecking MPP capacity at Dahej commissioned in September 2026
  • Phase II cGMP4 capex on track for operationalization by end Q4 FY27
  • R&D spend in FY 2025-26: ₹48.71 Cr
  • 3 modern R&D centers: Surat, Dewas, and Runcorn (Manchester)
  • Focus on developing advanced materials for Data Centers, Electronics, Defence & Semiconductors

Industry Trends & Business Environment

  • Constructive global demand-supply environment driven by transition to low GWP gasses
  • Increasing RAC and blends demand in India and export market
  • Pricing environment for HFC continues to be firm with QoQ increase in realisation

Management Commentary & Growth Outlook

  • Revenue growth led by higher volume and improved realisations across all business verticals
  • Increasing visibility for upcoming HFC capacities
  • Sustained growth underpinned by strong order visibility in H2 & beyond
  • Product pipeline continues to scale up across existing and new molecules
  • Balanced CDMO portfolio with mix of late/commercial and early-stage molecules
  • Increasing footprint across therapeutic areas: Oncology, Cardiovascular, Neurology and Animal health

ESG Updates

  • Total CSR spend in FY 2025-26: ₹8.72 Cr
  • Renewable power project will lead to over 60% of energy needs met from renewable sources
  • Structured ESG framework guided by Responsible Care (RC) and Pharmaceutical Supply Chain Initiative (PSCI)

Corporate Governance

  • Board composition: 10 members with majority independent directors
  • Statutory committees include Audit, Remuneration, Stakeholders' Relationship, CSR, and Risk Management
  • No auditor qualifications, financial restatements, or repayment defaults