BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Gujarat Fluorochemicals Ltd. is in a sweet spot with its presence in fluoropolymers, demand for which is increasing driven by the new-age verticals of battery, solar panel and green hydrogen.
The company is in the process of expanding its capacity in fluoropolymers, which provides visibility on growth during our forecast period (FY21-FY24E).
Gujarat Fluorochemicals is also expanding into other fluorine derivatives used in the new-age verticals, which expands the company’s addressable market and provides a vista of sustained growth.
Gujarat Fluorochemicals has laid out a bold capex plan of Rs 25 billion over the next three years. It is likely to see its earnings grow at 45.9% compound annual growth rate over FY21-FY24E (on low base though), and return on capital employed (post-tax) improve from 6.7% to 18% over the same period.
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