Regulatory Disclosure

Event Details

Q1 FY27 Financial Performance Highlights

Consolidated Financials

Sales Performance:

  • Revenue: ₹1,045.08 Cr, representing 44% YoY growth and 11% QoQ growth

Profitability Metrics:

  • Operating EBITDA: ₹357.07 Cr, showing 73% YoY growth and 11% QoQ growth
  • Operating EBITDA Margin: 34.2%, increased by 566 bps YoY but decreased by 8 bps QoQ
  • Operating PBT: ₹283.27 Cr, with 101% YoY growth and 13% QoQ growth
  • Operating PBT Margin: 27.1%, improved by 764 bps YoY and 34 bps QoQ
  • Profit After Tax: ₹243.31 Cr, showing 108% YoY growth and 14% QoQ growth

Business Vertical Growth (YoY):

  • HPP: 33% growth
  • Specialty Chemicals: 48% growth
  • CDMO: 82% growth

Standalone Financials

Sales Performance:

  • Revenue: ₹694.68 Cr, representing 28% YoY growth and 11% QoQ growth

Profitability Metrics:

  • Operating EBITDA: ₹244.98 Cr, showing 59% YoY growth and 33% QoQ growth
  • Operating EBITDA Margin: 35.3%, improved by 686 bps YoY and 597 bps QoQ
  • Operating PBT: ₹219.00 Cr, with 63% YoY growth and 38% QoQ growth
  • Operating PBT Margin: 31.5%, improved by 674 bps YoY and 624 bps QoQ
  • Profit After Tax: ₹190.64 Cr, showing 69% YoY growth and 41% QoQ growth

Business Vertical Updates

HPP (High Performance Products)

  • Revenue growth driven by volume increase and higher realizations
  • Constructive pricing environment for HFC with increasing interest for contractual offtakes
  • AHF facility commenced operations in Q4 FY26 and continues ramping up
  • Additional HFC capacity equivalent to 15,000 MTPA of R32 on track for Q3 FY27 commissioning

Specialty Chemicals

  • Sustained growth with strong order visibility
  • Strong product pipeline with meaningful scale-up across existing molecules
  • Chemours project targeted for completion by end of Q2 FY27
  • De-bottlenecking MPP capacity at Dahej on track for Q3 FY27 commissioning
  • Geographic mix: 62% international, 38% domestic

CDMO (Contract Development and Manufacturing Organization)

  • Strong momentum continues with robust order book
  • Deeper engagement with European CDMO major supported by increasing demand for existing molecule
  • Expanding footprint in their supply chain
  • Phase I cGMP4 capex operationalized in Q3 FY26
  • Phase II cGMP4 capex of ₹125 Cr expected to operationalize by Q4 FY27
  • Geographic mix: 98% international, 2% domestic
  • Balanced portfolio with mix of late/commercial and early-stage molecules
  • Focus on therapeutic areas: Oncology, Respiratory, Cardiovascular, Neurology, and Animal health

Advanced Materials Initiative

Company is incubating advanced materials as a new high-growth, high-margin business vertical. Building on core fluorination capabilities, the vertical will focus on niche applications in high-growth sunrise sectors including Data Centers, Electronics, Defence, and Semiconductors.

Ongoing Capex Program

HFC Capacity Expansion

  • Additional capacity equivalent to 15,000 MTPA of R32
  • Capex: ₹236.5 Cr funded by internal accruals
  • Expected commissioning: Q3 FY27
  • Peak revenue potential: ₹600-825 Cr per annum
  • Rationale: Constructive global demand-supply environment driven by transition to low GWP gases

MPP De-bottlenecking at Dahej

  • To support launch of new molecule for global innovator
  • Capex: ₹75 Cr funded by internal accruals
  • Targeted commissioning: Q3 FY27
  • Peak revenue potential: ₹140-160 Cr per annum
  • Rationale: Strong projections from global innovator and purchase order received for CY26

Chemours Project

  • Initial commercial capacity for manufacturing innovative liquid cooling product
  • Capex: ₹120 Cr with 35% funded by customer, balance through internal accruals
  • Targeted commissioning: Q2 FY27
  • Rationale: Expanding footprint in emerging Advanced Materials products

Renewable Power Project

  • Investment: ₹15.73 Cr for 14.9 MW hybrid capacity across NFIL & NFASL
  • Rationale: Reinforces sustainability through increased renewable energy adoption and progress toward decarbonization goals. Project will lead to over 60% of energy needs met from renewable sources.

Company Overview & Strategy

Navin Fluorine has nearly six decades of expertise in fluorine chemistries with demonstrated excellence across businesses. The company is one of India's first refrigerant businesses, only Indian manufacturer of hydrofluoroolefins (HFO), among India's largest producers of anhydrous hydrofluoric acid and diluted hydrofluoric acid, one of the largest BF3 manufacturers globally, and among the most trusted global players in specialty fluorochemicals.

The company's strategy is rooted in 3P focus: Capacity Expansion, Building Scalable Platforms, and Nurturing Long-Term Partnerships.

R&D Capabilities

  • Total R&D spend in FY 2025-26: ₹48.71 Cr
  • 3 modern R&D centers: Navin Research & Innovation Centre (Surat), Navin Molecular R&D Centre (Dewas), and Runcorn, Manchester facility
  • 65 chemists and 40 engineers in Technology and Design
  • Focus on research-driven innovation for complex KSMs for global pharma and biotech innovators

Sustainability Commitments

Environmental Goals

  • 100% compliance with EPR requirements for Plastic Packaging Materials by 2025 (100% achieved)
  • 30% reduction in carbon emissions by 2030 from base year 2023 (11.1% increase in specific carbon emissions in tCO₂/tonne of production)
  • 50% use of renewable electricity by 2030 (12.15% achieved in 2026)
  • Engagement with 100% key value chain partners by 2030 (30% engaged in 2026)

Social Goals

  • 10% diversity in company employees by 2030 (3.94% achieved in 2026)
  • 25% gender diversity in leadership teams by 2030 (0% achieved in 2026)
  • 25% gender diversity across the Board by 2030 (10% achieved)

Governance Goals

  • 100% resolution of complaints (89.24% achieved in 2026)
  • Zero cases of corruption and bribery (achieved in 2026)

Governance Framework

Board composition includes experienced directors with diverse backgrounds. Key committees include Audit Committee (4 members, 3 independent), Remuneration Committee (3 members, 2 independent), Stakeholders' Relationship Committee (3 members, 2 independent), Corporate Social Responsibility Committee (3 members, 1 independent), and Risk Management Committee (6 members, 1 independent).

CSR Initiatives

Total CSR spend in FY 2025-26: ₹8.72 Cr

Partner organizations include Shri Sadguru Seva Sangh Trust, Blind People's Association, Shakti Foundation, Charutar Arogya Mandal's Shri Krishna Hospital, and Sir J. J. Hospital.

Dividend Track Record

The company has a track record of progressive dividends, though specific amounts for recent periods are not provided in this document.