Navin Fluorine International Limited (NAVINFLUOR) AI Stock Analysis

• Market Cap: ₹335.17B
• Dividend Yield: 0.23%
• Average Volume (3M): 2.60K
• Price to Earnings (P/E): 40.9
• Beta (1Y): 0.84
• Revenue Growth: 30.05%
• EPS Growth: 70.18%
• Country: IN
• Employees: 1,487
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals
• EPS (TTM): 40.20
• Shares Outstanding: 51,248,573
• 10 Day Avg. Volume: 2,592
• 30 Day Avg. Volume: 2,601
• PEG Ratio: 10.84
• Price to Book (P/B): 7.93
• Price to Sales (P/S): 8.86
• P/FCF Ratio: 5.15K
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹7,536.00
• Price Target Upside: 27.65% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): 128.63
• Revenue Forecast (FY): ₹32.96B

• Rating: 64 Neutral
• Price Target: ₹6,754.00 ▲(14.41% Upside)
• Action: Reiterated Date: 11/01/25
• Date: Action: Reiterated 11/01/25

Navin Fluorine International Limited's strong financial performance and bullish technical indicators are offset by high valuation concerns. The stock's overbought condition and low dividend yield further impact its attractiveness. Improving cash flow management is crucial for sustaining growth.

Positive Factors

Strong Revenue Growth

Sustained revenue expansion signals underlying demand for fluorinated specialty products and successful commercialisation of offerings. Over 2–6 months this supports scalable sales, strengthens customer relationships in CDMO work, and underpins reinvestment capacity for R&D and capacity expansion.

High and Durable Margins

Elevated gross and EBITDA margins reflect technical differentiation, value-added specialty product mix and pricing power versus commodity peers. Such structural margin advantages support long-term profitability, funding for innovation and resilience across demand cycles over the medium term.

Solid Capital Structure

Moderate leverage combined with a strong equity base and positive ROE gives financial flexibility to fund growth, absorb shocks, and pursue selective investments. This balance supports sustained operations, capacity additions and customer qualification efforts without excessive refinancing risk.

Negative Factors

Poor Free Cash Flow Conversion

Extremely low FCF conversion despite strong reported profits suggests earnings are not translating into spendable cash. Over months this can limit self-funding for capex, reduce flexibility for shareholder returns, and increase reliance on external financing for expansion or working capital.

High CapEx Burden

Sustained elevated capital spending necessary for specialty chemical facilities and regulatory compliance pressures reduces near-term cash available for strategic initiatives. Over the medium term, persistent capex needs can compress free cash flow and constrain margin reinvestment choices.

Export, Regulatory & Qualification Exposure

Dependence on export markets, lengthy customer qualification for pharma/agro intermediates and regulatory compliance create structural timing and demand risks. These factors can cause multi-month revenue lags, FX sensitivity and added compliance costs, limiting predictability of cash flows.

Navin Fluorine International Limited Business Overview & Revenue Model

Company Description

Navin Fluorine International Limited manufactures and sells specialty fluorochemicals in India and internationally. The company offers refrigerants to OEMs, service technicians, and equipment owners under the Mafron brand name for use in various applications, including window and split room air conditioners, chillers, packaged air conditioners, commercial and industrial refrigeration units, intermediate for API's, fluoropolymer resins, domestic and industrial refrigerators, and mobile air conditioning. It also provides inorganic fluoride products, such as ammonium bifluoride, potassium fluoride, sodium fluoride, potassium fluorotitanate, potassium fluoroborate, hexafluorophosphoric acid, and HF pyridine and HF urea complex products that are used in various industries comprising oil and gas, stainless steel, pharmaceutical and agrochemicals, abrasives, electronics, and solar energy. In addition, the company offers various specialty fluoro intermediates consisting of boron trifluoride gas and adducts for use in pharmaceutical, crop protection, hydrocarbon, and fragrance applications. Further, it provides contract research and manufacturing services for custom chemical syntheses of fluorinated compounds in the pharmaceuticals, agro chemicals, and specialty chemicals industries; and basic research, library syntheses, process development, scale up, and batch manufacturing services, as well as custom synthesis services. The company also exports its products. Navin Fluorine International Limited was founded in 1967 and is headquartered in Mumbai, India.

How the Company Makes Money

Navin Fluorine makes money primarily by manufacturing and selling fluorochemicals and related specialty products to industrial customers in India and international markets. Its key revenue streams generally include: (1) Sale of specialty fluorochemicals and advanced intermediates: the company produces higher-value fluorinated intermediates and specialty molecules used by downstream manufacturers (notably in pharmaceuticals and agrochemicals). Revenue is generated through supply contracts/orders where customers pay per unit/volume delivered; margins are typically supported by technical know-how, process capabilities, and qualification requirements for these molecules. (2) Contract / custom manufacturing (CDMO-style services): the company undertakes custom synthesis and contract manufacturing of fluorinated intermediates/specialty chemicals for customers, monetizing through development fees (where applicable) and, more significantly, recurring manufacturing revenues tied to customer volumes once products are commercialized. This model can create longer-term customer relationships because processes, quality systems, and supply chains are integrated with customer needs. (3) Sale of refrigerants and other fluorochemicals: the company also earns revenue from producing and selling certain fluorochemical products used in refrigeration and other industrial applications, with earnings linked to market demand and pricing for these products. (4) Export-led sales: a meaningful portion of sales is typically derived from exporting to global customers, so earnings are influenced by global demand, customer diversification, and foreign-exchange movement. Factors that contribute to earnings include customer qualification/approval cycles (especially for pharma-related intermediates), product mix (specialty/custom products versus more commoditized fluorochemicals), capacity utilization at its manufacturing facilities, and regulatory/environmental compliance requirements that can shape supply-demand dynamics in fluorochemicals. Specific details on named partnerships, customer concentration, or exact segment-wise revenue contribution are null.

Navin Fluorine International Limited Financial Statement Overview

Summary

Navin Fluorine International Limited shows strong revenue growth and operational efficiency with healthy margins. The balance sheet is stable with moderate leverage, but cash flow management needs improvement, particularly in converting earnings into cash.

Income Statement

Navin Fluorine International Limited has demonstrated strong revenue growth, with a 14.7% increase in revenue from 2024 to 2025. The gross profit margin for 2025 stands at 55.8%, indicating efficient cost management. The net profit margin is 12.3%, showing profitability, although it is slightly lower compared to previous years. Both EBIT and EBITDA margins are healthy, at 17.6% and 24.6% respectively, reflecting strong operational performance.

Balance Sheet

The company's balance sheet is solid with a debt-to-equity ratio of 0.56, suggesting moderate leverage. The equity ratio is 54.4%, indicating a strong equity position relative to total assets. Return on equity (ROE) is 11.0%, showing effective use of shareholder funds, although there is room for improvement. Overall, the balance sheet reflects stability with some leverage.

Cash Flow

The cash flow performance is moderate, with a slight decline in free cash flow from the previous year. The operating cash flow to net income ratio is 1.98, indicating strong cash generation relative to profits. However, the free cash flow to net income ratio is low at 0.014, suggesting challenges in converting earnings into cash due to high capital expenditures.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	25.51B	23.49B	20.65B	20.65B	14.48B	11.74B
Gross Profit	12.18B	13.11B	11.11B	11.21B	7.41B	6.05B
EBITDA	6.88B	5.77B	5.05B	5.85B	3.93B	4.03B
Net Income	3.55B	2.89B	2.71B	3.75B	2.63B	2.58B
Balance Sheet
Total Assets	0.00	48.30B	43.77B	35.29B	23.85B	18.97B
Cash, Cash Equivalents and Short-Term Investments	4.95B	5.31B	4.96B	503.00M	1.84B	6.13B
Total Debt	0.00	14.66B	13.69B	8.61B	1.21B	254.10M
Total Liabilities	-26.26B	22.04B	19.94B	13.44B	5.41B	2.64B
Stockholders Equity	26.26B	26.26B	23.83B	21.85B	18.44B	16.34B
Cash Flow
Free Cash Flow	0.00	40.40M	175.00M	-8.21B	-5.04B	1.39B
Operating Cash Flow	0.00	5.71B	7.50B	-635.90M	747.60M	2.37B
Investing Cash Flow	0.00	-5.11B	-10.97B	-6.56B	-1.72B	-2.37B
Financing Cash Flow	0.00	-467.00M	3.36B	6.58B	415.00M	-450.52M

Navin Fluorine International Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 5903.45
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NAVINFLUOR, the sentiment is Positive. The current price of 5903.45 is below the 20-day moving average (MA) of 6397.10, below the 50-day MA of 6169.34, and above the 200-day MA of 5352.89, indicating a neutral trend. The MACD of 61.75 indicates Positive momentum. The RSI at 49.61 is Neutral, neither overbought nor oversold. The STOCH value of 71.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:NAVINFLUOR.

Navin Fluorine International Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NAVINFLUOR	64 Neutral	₹335.17B	40.91	―	0.23%	30.05%	70.18%
ATUL	64 Neutral	₹177.62B	28.12	―	0.41%	16.46%	43.59%
AARTIIND	63 Neutral	₹154.97B	25.48	―	0.26%	8.26%	-34.62%
DEEPAKFERT	62 Neutral	₹123.71B	28.71	―	0.80%	21.68%	45.18%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
BASF	59 Neutral	₹149.83B	40.15	―	0.51%	0.43%	-42.29%
DEEPAKNTR	52 Neutral	₹203.23B	59.14	―	0.44%	-7.50%	-37.67%