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Informist, Wednesday, Aug. 5, 2026

By Krupa Biju

MUMBAI – Speciality chemicals maker Navin Fluorine International Ltd. is expected to report a significant on-year increase in its net profit for the

June quarter, driven by broad-based growth, according to brokerages tracking the company. Continued momentum in the contract development and manufacturing organisation segment and refrigerant demand is expected to sustain Navin Fluorine's upward momentum, despite the increase in raw material prices due to the war in West Asia.

The company is expected to post a net profit of INR 1.96 billion for the June quarter, up almost 67% on year but down slightly on quarter, according to the average of estimates from nine brokerages. The company's net sales for the June quarter are expected to be INR 9.43 billion, up 30% on year but flat on quarter.

The highest estimate for Navin Fluorine's net profit for the June quarter is INR 2.27 billion from Elara Securities (India) Pvt. Ltd. and the lowest is INR 1.58 billion from Prabhudas Lilladher Pvt. Ltd. The highest estimate for the company's net sales for the June quarter is INR 10 billion from IDBI Capital Market Services Ltd. and the lowest is INR 8.75 billion from Prabhudas Lilladher.

Chemical prices surged at the beginning of the June quarter as the prices of raw materials increased due to disruption in supply caused by the war in West Asia, HDFC Securities Ltd. said. While the prices corrected towards the end of the quarter as crude oil prices declined due to de-escalation in the war, these are still above the pre-war levels and are expected to remain elevated in the near term as well, the brokerage added.

Brokerages expect Navin Fluorine to report a steady on year growth across all three business segments. The company's revenue from the high-performance products segment is likely to grow between 7.5% and 10% due to an increase in R-32 pricing, according to two brokerages. R-32, or difluoromethane, is a refrigerant widely used in residential and commercial air conditioners, cooling, and heat pump systems. Navin Fluorine's revenue from the speciality chemical segment is likely to grow between 41.6% and 57.8%, according to brokerages.

The company's revenue from the contract development and manufacturing organisation segment is expected to grow between 66% and 84%, according to two estimates. The company's contract development and manufacturing organisation segment has a robust order book, Prabhudas Lilladher said. The company management continues to reiterate its $100 million revenue ambition for this segment by this financial year, the brokerage added.

The company's profitability and margins are also likely to see an increase. Sequentially, margins might see a slight dip due to an increase in raw material costs. The company is expected to report earnings before interest, tax, depreciation, and amortisation of INR 3.05 billion for the June quarter, according to the average of estimates. The highest estimate for the company's EBITDA is INR 3.4 billion from Elara Securities and the lowest is almost INR 2.47 billion from HDFC Securities Ltd.

The company has announced it will add an hydrofluorocarbon refrigerant plant with an annual production capacity of 15,000 metric tonnes of R-32 to meet the strong demand, Prabhudas Lilladher said. The recent expansion in the anhydrous hydrogen fluoride facility is also likely to strengthen vertical integration, the brokerage added. Anhydrous hydrogen fluoride is an industrial chemical used as a catalyst in petroleum refining and for synthesising fluorocarbons.

Navin Fluorine is an integrated speciality fluorochemicals company. Headquartered in Mumbai, the company has a product portfolio of over 60 fluorine compounds used across the pharmaceutical, agricultural, refrigeration, and advanced materials industries.

A steady improvement in the agrochemical sector is expected to benefit Navin Fluorine, IDBI Securities said. The agrochemical segment and updates on capital expenditure projects are key factors to monitor, according to the brokerage. The company will detail its earnings for the June quarter Wednesday.

Of the 12 brokerage reports on the company available with Informist, 10 have a "buy" recommendation on the stock with an average target price of INR 7,755, which is almost 2% higher than closing price Tuesday. Two brokerages have a "hold" with an average target price of INR 6,588.

At 1313 IST, shares of Navin Fluorine were traded at INR 7,575.50 on the National Stock Exchange, down almost 1%. The stock is up more than 11% since the company announced its March quarter earnings Apr. 29.

Following are the June quarter earnings estimates for Navin Fluorine from nine brokerages in descending order of net profit, in INR billion:

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Edited by Pankaj Aher

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