Navin Fluorine Q4 Review - Non-Legacy Business To Lead Show: ICICI Direct
Vials of chemicals solutions are seen under ultraviolet light at research centre. (Photographer: Hannelore Foerster/Bloomberg)

Navin Fluorine Q4 Review - Non-Legacy Business To Lead Show: ICICI Direct

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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 Direct Report

Navin Fluorine International Ltd. reported topline growth of 22% YoY to Rs 336 crore against our expectations of Rs 319 crore largely led by contract research and manufacturing services and specialty chemical segments.

Revenue from CRAMS was up 41% YoY to Rs 76 crore, while the same from specialty chemical was up 26% YoY to Rs 131 crore.

The revenue from refrigerant and inorganic fluoride increased 4% YoY, 16% YoY to Rs 58 crore and Rs 59 crore, respectively.

Gross margins for the quarter declined 230 basis points YoY to 52.2%, leading to lower than anticipated Ebitda for the quarter.

Click on the attachment to read the full report:

ICICI Direct Navin Fluorine Q4FY21 Result Update.pdf

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