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Navin Fluorine International Ltd (NAVINFLUOR)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532504 NSE: NAVINFLUOR Chemicals | Small Cap | Navin Fluorine Intl. Share Price

₹8,197.25 1.10 (0.01%)

As on 24-Aug'26 16:59

Navin Fluorine International Ltd (NAVINFLUOR)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532504 NSE: NAVINFLUOR Chemicals | Small Cap | Navin Fluorine Intl. Share Price

₹8,197.25 1.10 (0.01%)

As on 24-Aug'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹42,052 Cr.
Current Price
₹8,197.3
52-Week Low / High
₹4,500 / 8,754
TTM EPS
₹110.2
TTM Sales
₹2,454 Cr.
Book Value per Share
₹748.1
P/E Ratio
74.36
In line with its 5-year historical median
Industry PE
48.9
Price to Book (P/B)
10.96
Higher than its 5-year historical median
Price to Sales (P/S)
17.14
Higher than its 5-year historical median
EV/EBITDA
48.66
In line with its 5-year historical median
Dividend Yield
0.18%
Profitability Efficiency
Return on Equity (ROE)
15.94%
Outperforms industry median
Return on Capital Employed (ROCE)
21.43%
Outperforms industry median
Return on Assets (ROA)
11.80%
Operating Profit Margin
29%
Net Profit Margin
21.19%
Gross Profit Margin
32.3%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
36.46%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
95.84%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
101.57%
Asset Quality
Promoter Holding
27.08%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹3,828 Cr.
Equity
₹10.3 Cr.
Face Value
₹2
All Time Low / High
₹5.24 / 8754.00

Navin Fluorine International stock performance

Key Ratios
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Check Before You Invest

Valuation

Overvalued

Price Trend

Strong
Q.1 Is Navin Fluorine International Ltd a good quality company?
Navin Fluorine International Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Navin Fluorine International Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Navin Fluorine International Ltd vs industry peers?
Navin Fluorine International Ltd revenue CAGR is 15.23%, compared to the industry median CAGR of 7.53%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Navin Fluorine International Ltd?
Promoters hold 27.08% of the Navin Fluorine International Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Navin Fluorine International Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 33.6% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Navin Fluorine International Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 23.8%29.3%22.4%21.1%27%19.8%21%13.3%13.3%21.4%-
Value Creation
Index
0.71.10.60.61.40.50.90.00.00.9-

Growth Parameters

Sales 6958739551,0221,1331,4041,6281,4211,6872,3022,454
Sales YoY Gr.-25.7%9.4%7%10.8%23.9%16%-12.7%18.7%36.5%-
Adj EPS 26.433.630.180.250.75462.639.848.896.7110.2
YoY Gr.-27.1%-10.4%166.6%-36.8%6.6%15.9%-36.4%22.5%98.1%-
BVPS (₹) 167.8196.2213.8280.2332.8376428.5460.7498.6711.7748.1
Adj Net
Profit
129166149397251268310198242495566
Cash Flow from Ops. 95.117390.1155296237152556261511-
Debt/CF from Ops. 00000000.10.10-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 14.2%15.2%12.2%36.5%
Adj EPS 15.5%13.8%15.6%98.1%
BVPS17.4%16.4%18.4%42.7%
Share Price 33.3% 17.8% 22.1% 64.1%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
17.718.514.732.416.515.215.58.910.116.115.1
Op. Profit
Mgn %
21.724.923.325.927.625.525.916.620.12930.8
Net Profit
Mgn %
18.61915.638.822.219.119.113.914.321.523.1
Debt to
Equity
0000000000-
Working Cap
Days
293268282307315320339363258207154
Cash Conv.
Cycle
5049557080881061055431117

Valuation of Navin Fluorine Intl. - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *3.153.151.061.061.061.081.081.080.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales6958739551,0221,1331,4041,6281,4211,6872,302
Operating Expenses + 5456637377628221,0481,2061,1851,3481,638
Manufacturing Costs133152156153159214225230278312
Material Costs287358425435484604686636750996
Employee Cost 779197117116153203210218221
Other Costs 49625957637792111101109
Operating Profit 150211218261311355422236339664
Operating Profit Margin (%) 21.6%24.1%22.8%25.5%27.4%25.3%25.9%16.6%20.1%28.8%
Other Income + 56913531753741675688
Exceptional Items 00006600520-7
Interest 0102122538
Depreciation 28382634414443587080
Profit Before Tax 177262227257410347418292321656
Tax 448478-143110811065779169
Profit After Tax 133179148400299266312235242488
PAT Margin (%) 19.1%20.5%15.6%39.1%26.4%19.0%19.2%16.6%14.3%21.2%
Adjusted EPS (₹)27.136.330.080.860.553.863.147.548.895.2
Dividend Payout Ratio (%)23.30%27.60%26%13.60%18.20%20.50%19%31.60%24.60%15.90%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 8219681,0571,3861,6471,8632,1232,2832,4733,647
Share Capital 10101010101010101010
Reserves 8119581,0471,3761,6381,8532,1132,2732,4633,637
Debt +000000040350
Long Term Debt0000000000
Short Term Debt000000040350
Minority Interest0000000000
Trade Payables76896892103142116234269450
Others Liabilities 540509581454561578728553641752
Total Liabilities 1,4371,5661,7061,9332,3112,5832,9683,1093,4194,850

Fixed Assets

Net Fixed Assets +411276281370362388428633745869
Gross Block4393253544734985596388921,0671,251
Accumulated Depreciation284873103136171210258323382
CWIP 172039393726154455464
Investments 3165225272964506197361,1541,4202,359
Inventories999293136154229327215169199
Trade Receivables131147167209276352393320442600
Cash Equivalents 30222225838978146765
Others Assets 435486576624643890916735582693
Total Assets 1,4371,5661,7061,9332,3112,5832,9683,1093,4194,850
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 9517390155296237152556261511
PBT 177262227257410347418292321656
Adjustment -24-31-213-651731-284324
Changes in Working Capital -28-9-64-68-68-47-189326-26-12
Tax Paid -31-50-71-4619-81-108-35-77-157
Cash Flow From Investing Activity + -20-149-3277-345-181-157-517-183-1,129
Capex -175-46-61-97-38-58-192-87-179-181
Net Investments 13-13419171-9129383-40210-747
Others 14231103-216-417-48-28-14-200
Cash Flow From Financing Activity + -62-33-59-76-44-58-59-46-76626
Net Proceeds from Shares 032113100747
Net Proceeds from Borrowing 0000000000
Interest Paid -0-1-0-2-1-2-2-5-3-4
Dividend Paid -34-35-61-71-39-54-54-74-60-68
Others -2800-4-4-5-433-14-49
Net Cash Flow 13-9-1156-93-3-64-717
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)18.2420.0114.6732.7319.7315.1815.6810.6710.1715.94
ROCE (%)23.8429.3422.3721.127.0419.8420.9913.2713.3221.43
Asset Turnover Ratio0.570.590.580.560.530.570.590.470.520.56
PAT to CFO Conversion(x)0.710.970.610.390.990.890.492.371.081.05
Working Capital Days
Receivable Days66.8057.2060.1067.3078.2081.7083.5091.6082.5082.70
Inventory Days4039.4035.4040.9046.8049.9062.4069.6041.5029.20
Payable Days107.2084.1067.2067.2073.4073.7068.60100.60122.40131.80

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Navin Fluorine International Ltd FAQs

The current trading price of Navin Fluorine Intl. on 24-Aug-2026 16:59 is ₹8,197.3.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 23-Aug-2026 the market cap of Navin Fluorine Intl. stood at ₹42,051.9 Cr

The latest P/E ratio of Navin Fluorine Intl. as of 23-Aug-2026 is 74.36.

The latest P/B ratio of Navin Fluorine Intl. as of 23-Aug-2026 is 10.96.

The 52-week high of Navin Fluorine Intl. is ₹8,754 and the 52-week low is ₹4,500.1.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Navin Fluorine Intl. is ₹2,454 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Navin Fluorine International Ltd is a good quality company.

The key valuation ratios of Navin Fluorine International Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Navin Fluorine International Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Navin Fluorine International Ltd

Navin Fluorine International (NFIL) was established in 1967 with a focus on fluorine chemistry and fluorinated industrial products. The company is part of one of the country’s oldest industrial houses, the Padmanabh Mafatlal Group. Over the years, the company has expanded its research, manufacturing and process engineering capabilities, building a strong foundation in complex chemistries and integrated operations.

With decades of expertise in fluorine chemistry, the company is one of India’s largest and most respected manufacturers of specialty fluorochemicals. Driven by innovation, excellence, disciplined execution and customer centricity, the company has built a strong reputation for quality and trust. This has enabled it to explore new frontiers while delivering long-term, profitable and sustainable growth.

The company leverages its modern manufacturing facilities, robust in-house R&D capabilities, advanced technologies and dedicated workforce to offer end-to-end solutions across three business verticals to a diversified customer base across multiple sectors worldwide. Operating one of India’s largest integrated fluorochemical complexes, the company has emerged as a preferred source and partner of choice for a diverse range of fluorochemicals globally.

The company operates across various business segments, including Specialty Chemicals, High-Performance Products (HPP), Contract Development and Manufacturing Organisation (CDMO), and Advanced Materials.

Business area of the company

The company primarily focuses on fluorine chemistry - producing refrigeration gases, inorganic fluorides, specialty organofluorines and offers Contract Research and Manufacturing Services. 

Products

  • Refrigerants: Marketed under the Mafron brand, the company’s refrigerant portfolio covers the full spectrum of cooling applications, from residential and commercial air conditioning to automotive, industrial refrigeration, and cold chain. Its refrigerants are OEM-approved, globally supplied, and manufactured with consistent quality.
  • Inorganic Fluorides: The company is a pioneer and trusted name in fluorine chemistry, manufacturing inorganic fluorides and Anhydrous Hydrofluoric Acid (AHF) in India since 1967. Its vertically integrated AHF production serves as a core building block for downstream inorganic fluorides, supporting high-performance applications in semiconductors, stainless steel, pharmaceuticals, agrochemicals, glass, and solar energy.
  • Speciality Fluorochemicals: The company's speciality fluorochemicals portfolio covers a broad range of fluorinated aromatic compounds, trifluoromethyl derivatives, fluoropyridines, and BF3 complexes. These intermediates serve as critical building blocks in crop protection, pharmaceutical synthesis, and advanced chemical manufacturing.

Applications

  • Cooling Solutions: Cooling is one of the foundational pillars of the company's business. Its solutions serve industries ranging from residential air conditioning and automotive mobility to AI-driven data centres.
  • Crop Protection Solutions: Modern agriculture demands solutions that improve crop productivity while meeting sustainability and regulatory requirements. The company enables global agrochemical innovators through advanced fluorination chemistry, specialty intermediates, and scalable manufacturing.
  • Pharma Solutions: The company partners with global pharmaceutical innovators to develop and manufacture complex fluorinated molecules that support modern healthcare. Fluorine plays a critical role in enhancing drug efficacy, bioavailability, stability, and selectivity, making it an essential component in modern pharmaceutical innovation.
  • Industrial Solutions: The company’s industrial solutions support essential and emerging industries through high-performance fluorochemicals, inorganic fluorides, specialty materials, and advanced chemistry platforms. Its solutions serve industries ranging from glass, polymers, and petrochemicals to semiconductors, electric vehicles, aerospace, and electronics.

Awards / Achievements

2014-15:

  • During the year, the Company’s facility at Surat received various HSE awards and recognitions and letters of appreciation from the Government of Gujarat, National Safety Council, etc. The Company run several in-house HSE awareness programmes at all its locations.

2015-16:

  • The Surat plant of the Company has been awarded with the “Silver Trophy” and a certificate by National Safety Council of India for commendable Occupational Safety & Health performance. It is the only manufacturing unit in the catagory in Gujarat to get this award during 2015-16, which exemplifies the Company’s commitment towards safety.

2016-17:

  • During the year, the Company has been declared a Winner in the Category of “Operational Excellence in Safety” for its Responsible Care Initiatives in Distribution at the Manufacturing & Supply Chain Summit Awards 2017; which exemplifies the Company’s commitment towards safety.
  • The Surat & Dewas Plants of the Company have secured Certificates of Appreciation for Safety in Operations from the National Safety Council during the year.

2017-18:

  • NFIL wins accolades at the Indian Chemical Council Safety Awards

2018-19:

  • During the year, the Company has been conferred two awards by the Indian Chemical Council (ICC). One was the ICC award for “Excellence in Human Resource Management in Chemical Industry” for the year 2017 and the second was Certificate of Merit for the “Best Compliant Company for the Distribution Code under Responsible Care” for the year 2017. 
  • Apart from these, the Company also received the “CSR Excellence Award 2018” for Health and Sanitation in Gujarat CSR Summit - 2018.

2019-20:

  • During the year, the Company was awarded by ET NOW as “Emerging Company of the Year”.
  • It also received an award from the Indian Chemical Council (ICC) for “The Best Compliant Company for Emergency Response Code under Responsible Care” for the year 2018.

2023-24

  • Navin Fluorine bagged awards in two different categories at the 7th HSE Summit Award Mumbai (National level Award). The company was recognised as the Golden Award winner in the 'Best Health and Wellbeing Program' and the Silver Award winner in the 'Commitment to Environmental Excellence' category.
  • Surat site had participated in the National Summit on ESG in the large-scale corporate sector category, awarded as Best Health and Safety Practices on the state level.
  • Surat Site received GPCB SWACHHTA Pakhwada Award 2023-24.

2024-25

  • Awarded 'Workplace Safety Excellence' at the Greentech Workplace Safety Summit & Awards 2024 for Dahej, Dewas and Surat Sites.
  • Dahej facility recognized with Bronze Award and Surat with Gold Award under the Apex India Occupational Health and Safety Awards 2024 in the Chemical Sector.
  • Navin Fluorine won ‘Best Health & Wellbeing Program Award’ at the 8th Annual HSE Strategy Summit & Awards 2025.
  • Dewas and Surat Site were awarded with Merit Certification in International Safety Award 2024 by British Safety Council and Dahej Site got awarded with Pass Certification.

2025-26

  • ISO/IEC 27001 certification for Information Security Management System (ISMS) for the IT Department, encompassing the full lifecycle management and support of IT assets, applications, and network services.
  • British Safety Council – International Safety Award (Merit) - Surat & Dewas facilities recognised for maintaining high standards of workplace health and safety practices.
  • ISO 50001:2018 – Energy Management System Certification (TUV SUD South Asia) – Certification received for Surat facility for implementing an energy management system to drive energy efficiency and sustainable operations.
  • 19th Exceed Environment Award 2025 under the category “Waste Management” (Navin Fluorine Advanced Sciences, Dahej).

Milestones

  • 1967: Establishment of the First Integrated Fluorochemicals Complex in South East Asia (excluding Japan) to produce HF, refrigerant gases and a range of inorganic fluorides at Surat, Western India
  • 1969: Commencement of commercial production of refrigerant gases
  • 1978: Facility was set up at Dewas to produce Alkylated Anilines and Toluidine’s
  • 1982: Capacity expansion at Surat for Smelter Fluorides and AIF3
  • 1990: CFC 113 plant commissioned at Surat
  • 1999: Commencement of Organic and Inorganic Specialty Fluoride production at Surat
  • 2000: Commencement of Fluorobenzene and Benzotrifluoride series production at Surat
  • 2001: Set up first large scale plant in South East Asia for production of Boron Trifluoride Gas at Surat
  • 2003: Capacity expansion of Specialty Organic Fluorides at Surat
  • 2004: Commissioned Trifluoroacetic acid plant at Surat
  • 2005: Commissioned Trifluoroethanol plant at Surat
  • 2006: Capacity expansion of Boron Trifluoride Gas
  • 2007: Commissioned CDM plant at Surat
  • 2008: Inauguration of New R & D Centre – Navin Research Innovation Centre (NRIC) at Surat
  • 2009: Start-up of Pilot Plant for scale up of research and development molecules.
  • 2010: Established Multi-purpose plant and CRO at Surat
  • 2011: Capacity expansion of BF3 at Surat
  • 2011: Acquisition of Land at Dahej for further expansion
  • 2011: Acquisition of Manchester Organics Limited, UK
  • 2011: Commissioning of cGMP pilot plant at Dewas
  • 2013: Expansion of multi-purpose plant at Surat
  • 2015: CRAMS cGMP multi-purpose plant
  • 2017-18: Invested in R&D and capacity growth to address growing demand
  • 2019-20: The Company ventured into commercialisation of a number of molecules under evaluation and reported superior growth in existing products
  • 2020: Third cGMP multi-purpose plant commissioned at Dewas, significantly enhancing capacity for global CDMO operations
  • 2022: Orchid started production at Dahej
  • 2022: Commissioned dedicated hydrogenation block at Dewas to enhance advanced chemistry capabilities
  • 2023: MPP and Freesia started production at Dahej
  • 2023: Launched “Navin Molecular” brand, integrating Dewas into a global CDMO platform
  • 2024: Announced cGMP4 capex
  • 2024: Started key fluoro specialty chemical plant at Dahej
  • 2025: Raised Rs 750 crore equity share capital through Qualified Institutional Placement
  • 2025: Commenced R32 Phase 2 commercial production
  • 2025: Started commercial production at Phase 1 of cGMP-4 plant at Dewas
  • 2025: Announced an agreement to manufacture new liquid coolant for hyper data centres, its foray into advanced materials business
  • 2025: Approved capex for expansion of HFC capacities and debottleneck MPP capacity at Dahej
  • 2026: Started commercial production from the new AHF manufacturing plant at Dahej
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