Navin Fluorine International Ltd Stock Analysis

BSE: 532504 | NSE: NAVINFLUOR | Chemicals | Mid Cap

BSE Share Price Jun 24, 18:03
3618.70 73.70 (2.08%)

DeciZen - Make an Informed Decision on Navin Fluorine Intl

Overall Rating

1. Quality

2. Valuation

Overvalued

3. Price Trend

FAQs

1. Is Navin Fluorine International Ltd a good quality company?

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

2. Is Navin Fluorine International Ltd undervalued or overvalued?

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.

3. Is Navin Fluorine International Ltd a good buy now?

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

10 Year X-Ray of Navin Fluorine Intl:

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

Value Creation Index Colour Code Guide

Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
ROCE % 40.1%9%7.9%7.5%13.7%17.4%20.5%15%33%16.7%-
Value Creation Index 1.9-0.4-0.4-0.5-0.00.30.50.11.40.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 7045254495466366958739551,0221,1331,404
YoY Gr. Rt. %--25.5%-14.4%21.6%16.5%9.3%25.7%9.4%7%10.8%-
Adj EPS 38.99.98.88.917.426.437.230.681.45153.8
YoY Gr. Rt. %--74.5%-10.9%1.1%95.3%51.7%40.7%-17.7%165.9%-37.3%-
BVPS (₹) 99.1104.4111.1116.9129.5167.8196.2213.8280.2332.9376.2
Adj Net Profit 19048.34343.585.2129183151403253266
Cash Flow from Ops. 13670.25848.871.795.117390.1155296-
Debt/CF from Ops. 0.71.210.90.400000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 5.4%12.2%9.1%10.8%
Adj EPS 3.1%24%11.2%-37.3%
BVPS 14.420.819.318.8
Share Price 49.7% 43.4% 72% -1%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Equity % 46.59.78.27.814.117.720.514.932.916.615.2
Op. Profit Mgn % 37.717.113.711.818.621.724.923.325.927.625.3
Net Profit Mgn % 26.99.29.6813.418.62115.839.422.319
Debt to Equity 0.20.20.10.10.1000000
Working Cap Days 198277342313294216204282307289249
Cash Conv. Cycle 20535542355049557080202

Recent Performance Summary

Net Profit is growing at healthy rate in last 3 years 11.16%

Sales growth is good in last 4 quarters at 26.35%

Return on Equity has declined versus last 3 years average to 15.20%

Sales growth has been subdued in last 3 years 9.06%

Latest Financials - Navin Fluorine International Ltd.

Standalone Consolidated
TTM EPS (₹) 53.8 53.1
TTM Sales (₹ Cr.) 1,404 1,453
BVPS (₹.) 376.2 372.2
Reserves (₹ Cr.) 1,854 1,834
P/BV 9.62 9.72
PE 67.31 68.16
From the Market
52 Week Low / High (₹) 3196.20 / 4339.00
All Time Low / High (₹) 5.24 / 4339.00
Market Cap (₹ Cr.) 17,932
Equity (₹ Cr.) 9.9
Face Value (₹) 2
Industry PE 31.8

Management X-Ray of Navin Fluorine Intl :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *3.543.433.432.982.983.013.013.013.013.06
* Pledged shares as % of Promoter's holding (%)

Event Update

Analyst's Notes

News

About Navin Fluorine International Ltd

Navin Fluorine International Limited (NFIL) belongs to a reputed industrial house of the Arvind Mafatlal Group. The company owns one of India’s largest integrated flurochemicals complexes. It produces a wide range of flurochemicals in the bulk and speciality segment. It is a public limited company, incorporated under the provisions of the Companies Act, 1956. Its shares are listed on the Bombay and National stock exchanges. The Company belongs to the Padmanabh Mafatlal Group, with a legacy of business operations since 1967, having one of the largest integrated fluorochemicals complex in India.

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. Its manufacturing facilities are located at Surat in Gujarat and Dewas in Madhya Pradesh.

Business Units

Refrigeration: NFIL introduced refrigerants into India in 1967 by commissioning its manufacturing plant at Surat, Gujarat, Western India. It is backward integrated into the manufacture of critical intermediates namely sulphuric and hydrofluoric acid which are precursors to its Mafron brand of refrigerants. With over forty years of leadership in fluorine chemistry and refrigerant science, NFIL offers safe, high performance and high quality refrigerants for various refrigeration and air conditioning applications.

Inorganic Fluorides: NFIL set up an integrated fluorochemicals complex at Surat in 1967. It has one of the largest Anhydrous Hydrofluoric (AHF) and Aqueous Hydrofluoric acid manufacturing capacities in India. AHF is used for captive manufacture of various inorganic fluorides. NFIL has a long and rich experience in manufacturing various inorganic fluorides with capacity, flexibility and experienced work force. NFIL has the ability to develop products as per customer’s need. NFIL enjoys a respectable market share and excellent relationship with large global consumers of inorganic fluorides. Additional investments are planned to enhance capacities and widen the product range.

Specialty Fluorochemicals: The Company’s expertise, built through decades of experience in fluorine chemistry, coupled with state of art manufacturing infrastructure enables the company to produce a wide range of value added Specialty fluoro intermediates in large quantities in a safe and responsible manner.  NFIL has dedicated multipurpose plants (MPP) to process multi step products and intermediates which are high in the value chain. It has capabilities to handle complex chemistries and deliver high quality products in all forms. NFIL is one of the leading high quality producers of Boron trifluoride gas and it’s adducts.

CRAMS: NFIL is in the business of offering Contract Research and Manufacturing Services (CRAMS) for custom chemical syntheses of fluorinated compounds for the pharmaceuticals, agro chemicals and speciality chemicals industries.

Awards

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.

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
  • 2018-19: Board approved the capex for creating additional cGMP capacity and associated infrastructure
  • 2019-20: The Company ventured into commercialisation of a number of molecules under evaluation and reported superior growth in existing products
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