Navin Fluorine Q2 Review - Specialty, Inorganics Supported Growth But Margins Dented: KRChoksey

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..KRChoksey Report.Navin Fluorine International Ltd.'s contribution from high value business remained at 63% in Q2 FY22. In H1 FY22 it delivered a topline growth of 21% on YoY basis. Specialty business continued to deliver strong performance by showing a growth of 19% in Q2 FY22 YoY basis which came at Rs 1,220 million. Business growth from this segment was mainly driven by growth in international sales (54% of its sales). During the quarter, CRAMS saw de-growth of 17% YoY but overall in H1 FY22 it was +12% to Rs 1,490 million, supported by repeat orders. We believe new customer development across Europe and U.S., focus on expanding project pipeline will bring traction in this business in the coming years. Legacy business – good traction seen from end user industries, both refrigerant business as well as inorganic fluorides supported the topline showing a jump of 11% and 56% YoY respectively in H1 FY22. Export business due to higher logistics costs dented the growth in refrigerant business in Q2 FY22 (-4%) YoY but realisations are expected to shoot up due to rising gas prices which should augur well for the company..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Navin Fluorine Q2 Review - Specialty, Inorganics Supported Growth But Margins Dented: KRChoksey

Navin Fluorine Q2 Review - Specialty, Inorganics Supported Growth But Margins Dented: KRChoksey

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