Navin Fluorine Q2 Review - Strong Prospects In Specialty Chemicals, CRAMS Businesses: Dolat Capital
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Dolat Capital Report
Navin Fluorine International Ltd. reported sales growth of 6.3% YoY to Rs 3.4 billion (our estimate: Rs 3.1 billion).
Ebitda and profit after tax de-grew by 7.2% and 6.8% YoY to Rs 842 million and Rs 632 million respectively.
On a sequential basis, sales/Ebitda/profit after tax grew by 3.8/8.2/13.1%.
Gross margin remained flat YoY at 55% while Ebitda margin saw a 361 basis points YoY contraction to 24.8% on account of higher employee costs and other expenses which rose by 28.4% and 15.2% YoY to Rs 436 million and Rs 588 million respectively.
Navin Fluorine's profit after tax declined by 6.8% YoY to Rs 632 million impacted by a higher depreciation charge of Rs 119 million (up 9.3% YoY).
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