Navin Fluorine International Ltd
Navin Fluorine International Ltd (NAVINFLUOR)

Navin Fluorine International Ltd (NAVINFLUOR)

₹4397.80.47%

Key Stats

₹4397.8
Day's Price Range
₹4397.8
₹3360
52-Week Price Range
₹4848.35
1 Month Return-1.63 %
3 Month Return3.41 %
1 Year Return15.32 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 32
77.72
EPS
Rank 15
₹56.85
BVPS
Rank 13
₹372.19
Dividend Yield
Rank 23
0.4%
ROE
Rank 21
15.16%
Price To Book Ratio
Rank 27
11.87
Debt To Asset
Rank 30
0.13

Company Information

Navin Fluorine International Limited was incorporated in June 25th 1998. Being a flagship the Company belongs to a reputed industrial house of Padmanabh Mafatlal Group in India. It has largest integrated fluorochemicals complex in India since 1967. The Company primarily focuses on fluorine chemistry producing refrigeration gases chemicals inorganic bulk fluorides specialty organofluorines and offers Contract Research and manufacturing services. Its 2 manufacturing units at Surat in Gujarat and Dewas in Madhya Pradesh and 1 manufacturing site of Navin Fluorine Advanced Sciences Limited at Dahej in Gujarat are strategically located near ports to facilitate the import of raw materials and the export of finished products. It enjoys an international presence through its manufacturing unit in Manchester United Kingdom.The Companys manufacturing unit was located in Surat. It commenced the refrigerant business in 1967 and established itself as a respected refrigerant global brand. It commissioned Dewas unit in 1978.Navin initiated the CDM project to reduce green house gas HCFC 23 in June 2006 with Ineos Fluor as technology partners and received UNFCCC approval in March 2007. Navin Fluorine has developed more than 40 products on commercial scale using indigenously built multipurpose plants.The company has ability to produce some of the niche organofluorine molecules. It offers a diversified portfolio of advanced fluorine derivatives to the world with wide ranging applications in pharma agro and petrochemicals. Navin Fluorine has an impressive clientele consisting of several fortune 500 companies which include five of the top ten global crop protection companies and three of the top ten global chemical companies.A positive mind set holistic approach and thorough professionalism forms the core of the team named Navin Fluorine. Quality is what we aspire for in every endeavor of ours. Navin Fluorines strict vigil on the environmental norms and safety measures at every step of the manufacturing process has resulted in elevating Navin as an entity to rely upon without inhibition.During FY2016 the Company entered into a Joint Venture JV Agreement with Piramal Enterprises Limited PEL and accordingly a Company by the name of Convergence Chemicals Private Limited CCPL has been formed to leverage the Companys rich legacy in fluorine chemistry and the deep outreach of the JV partner in the healthcare space. PEL holds 51 and the Company owns 49 of the equity share capital of CCPL. During the year 2016 the Company entered into an agreement with Honeywell to work together on the new generation refrigerant gas HFO 1234yf. HFO1234yf is a nextgeneration hydro fluoroolefin HFO refrigerant with GWP less than 1 and is a near dropin replacement for R134a a hydro fluoro carbon HFC for use in vehicle air conditioning systems globally. This agreement depicts Honeywells confidence in Companys capabilities in developing new generation fluoro intermediates.At the 19th Annual General Meeting of the Company held on 29 June 2017 Members had passed Resolution approving subdivision of shares in the ratio of 5 Equity Shares of Rs2 each for every 1 Equity Share of Rs10 each. The record date for the aforesaid subdivision was 20 July 2017. Accordingly the face value of equity shares of the Company stands reduced to Rs2/ per share.During the current year the Company approved a capital expenditure of Rs11500 lakhs towards creating additional cGMP capacity and associated infrastructure. This capex is underway at the Companys Dewas facility which is the hub of the CRAMS activities. During the year 2018 Companys business relating to manufacture and sale of Specialty Fluorochemicals at Dahej was transferred to Convergence Chemicals Private Limited with effect from 1 December 2017 on a going concern basis by way of slump sales together with all the identified assets liabilities consents permissions services of employees etc.During FY 2019 the Company had entered into a Joint Venture JV agreement with Piramal Enterprises Limited PEL and accordingly a company by the name of Convergence Chemicals Private Limited CCPL has been formed to leverage the Companys capability in niche fluorination chemistry and deep outreach of the JV partner in the healthcare space. PEL holds 51 and the Company owns 49 of the equity share capital of CCPL. During the year 2019 a 100 subsidiary NFIL UK Ltd was formed in the UK to acquire the balance shareholding of 49 from the shareholders of Manchester Organics Ltd. During the year the Company made further infusion of 830 K into NFIL UK Ltd. which has been utilized to service the HDFC Bahrain Term Loan taken by NFIL UK Ltd. to part finance the 49 acquisition of MOL.In FY 201920 the Company started operations of cGMP3 at its Dewas site in Madhya Pradesh. It increased its presence in Europe helping create a robust customer pipeline utilize additional capacities and derisk the Companys dependence on select customers. Besides it diversified its product portfolio away from 23 compounds to an array of compounds and complex chemistries. The Company embarked on a greenfield expansion in Dahej in 2020 and invested approximately Rs. 500 crores.In FY 202021 Company invested Rs. 19500 lakhs for setting up of a MultiPurpose Plant MPP. It invested a capital expenditure of Rs. 9000 lakhs towards site development and related infrastructure on approx. 74 acres of land for greenfield projects at Dahej in Gujarat. It signed a 410 million multiyear contract with a global company for manufacture and supply of a High Performance Product HPP in the fluoro chemicals space. It divested its shareholding in a JVC Convergence Chemicals Private Limited CCPL pursuant to a Joint Venture Agreement between Piramal Enterprises Limited PEL and the Company. It commissioned a new plant for a fluorine building block for a number of chemistries done in Contract Research and Manufacturing Services CRAMS. It established a significant refrigerant gas presence in the life science and crop science industries where it is used as a building block for the manufacture of a number of products. In FY 202122 Companys Surat plant developed technologies for several products of which 4 products were commercialised. It increased the capacity of one of the inorganic product by 50 through business process reengineering. It addressed diverse customer requirementsand enhanced products quality strengthening customer retention. It further implemented BMR Batch Manufacturing Records enhancingdata capture directly from the distributed control system. It invested Rs. 75 crores in capital investment to enhance and debottleneck manufacturing capacity of cGMP3 plant. It invested Rs. 78.65 crore for infrastructure development and capability upgradation at Bhestan site. It made equipment modifications that empowered the unit to perform reactions at deep subzero temperatures. It installedspecialised software and engaged an international consultant to strengthen its documentation management system. It developed fourproducts that were transferred to the main plant for onward commercialisation. It expanded its manufacturing footprint and upgraded infrastructure enhancing capacity by 25. It maintained supplies to premium indigenous customers by reducing supply to foreigndistributors.
OrganisationNavin Fluorine International Ltd
HeadquartersMumbai
IndustryChemicals

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