Navin Fluorine International Ltd - Stock Valuation and Financial Performance

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

Navin Fluorine Intl Share Price

3,296.10 48.80 1.50%
as on 12-Apr'24 16:59

DeciZen - make an informed investing decision on Navin Fluorine Intl

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Navin Fluorine International stock performance -

mw4me loader
P/E Ratio (SA):
58.56
Market Cap:
16,339.9 Cr.
52-wk low:
2,900.2
52-wk high:
4,922

Is Navin Fluorine International Ltd an attractive stock to invest in?

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 Somewhat overvalued zone.

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

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

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'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 7.9%7.5%13.7%17.4%20.5%15%33%16.6%15.3%15.6%-
Value Creation
Index
-0.4-0.50.00.30.50.11.40.50.10.4-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 4495466366958739551,0221,1331,4041,6281,476
Sales YoY Gr.-21.6%16.5%9.3%25.7%9.4%7%10.8%23.9%16%-
Adj EPS 8.88.917.426.437.230.681.450.75462.756.3
YoY Gr.-1.1%95.3%51.7%40.7%-17.7%165.9%-37.7%6.6%16%-
BVPS (₹) 111.1116.9129.5167.8196.2213.8280.2332.9376428.5461.9
Adj Net
Profit
4343.585.2129183151403251268310279
Cash Flow from Ops. 5848.871.795.117390.1155296237152-
Debt/CF from Ops. 10.90.40000000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 15.4%13.3%16.8%16%
Adj EPS 24.4%11%-8.3%16%
BVPS16.2%16.9%15.2%14%
Share Price 46.6% 36.1% 3.6% -27.2%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
8.27.814.117.720.514.932.916.515.215.512.6
Op. Profit
Mgn %
13.711.818.621.724.923.325.927.625.525.920.9
Net Profit
Mgn %
9.6813.418.62115.839.422.219.119.118.9
Debt to
Equity
0.10.10.10000000-
Working Cap
Days
342313294216204282307315320339131
Cash Conv.
Cycle
554235504955708088106101

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 16.78%

Return on Equity has declined versus last 3 years average to 12.60%

Net Profit has been subdued in last 3 years -8.34%

Sales growth is not so good in last 4 quarters at -6.35%

Latest Financials - Navin Fluorine International Ltd.

Standalone Consolidated
TTM EPS (₹) 56.3 67.9
TTM Sales (₹ Cr.) 1,476 2,162
BVPS (₹.) 461.9 472.9
Reserves (₹ Cr.) 2,280 2,334
P/BV 7.14 6.97
PE 58.56 48.56
From the Market
52 Week Low / High (₹) 2900.20 / 4922.00
All Time Low / High (₹) 5.24 / 4922.00
Market Cap (₹ Cr.) 16,340
Equity (₹ Cr.) 9.9
Face Value (₹) 2
Industry PE 49.3

Management X-Ray of Navin Fluorine Intl:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *3.013.013.063.063.093.093.153.153.153.15
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Navin Fluorine Intl

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales4495466366958739551,0221,1331,4041,628
Operating Expenses 3884835205456637377628221,0481,206
Manufacturing Costs93110115133152156153159214225
Material Costs213273292287358425435484604686
Employee Cost 486166779197117116153203
Other Costs 35394749625957637792
Operating Profit 6163116150211218261311355422
Operating Profit Margin (%) 13.5%11.6%18.3%21.6%24.1%22.8%25.5%27.4%25.3%25.9%
Other Income 29272556913531753741
Interest 5330102122
Depreciation 21192128382634414443
Exceptional Items 00000006600
Profit Before Tax 6468117177262227257410347418
Tax 131930448478-14311081106
Profit After Tax 514986133179148400299266312
PAT Margin (%) 11.3%9.0%13.6%19.1%20.5%15.5%39.1%26.4%19.0%19.2%
Adjusted EPS (₹)10.410.117.727.136.330.080.860.553.863.1
Dividend Payout Ratio (%)31%32%24%23%28%26%14%18%20%19%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 5425716348219681,0571,3861,6481,8632,123
Share Capital 10101010101010101010
Reserves 5325616248119581,0471,3761,6381,8532,113
Minority Interest0000000000
Debt5745300000000
Long Term Debt01200000000
Short Term Debt5733300000000
Trade Payables58889276896892103142116
Others Liabilities 336341372227509581454561578728
Total Liabilities 9941,0451,1281,1241,5661,7061,9332,3112,5832,968

Fixed Assets

Gross Block354359433439325354473498559638
Accumulated Depreciation128146165284873103136171210
Net Fixed Assets226213268411276281370362388428
CWIP 55814172039393726154
Investments 263234266361566570339450619736
Inventories576663999293136154229327
Trade Receivables83110139131147167209276352393
Cash Equivalents 2514153022222583897814
Others Assets33435036377442533581643890916
Total Assets 9941,0451,1281,1241,5661,7061,9332,3112,5832,968

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 5849729517390155296237152
PBT 6468117177262227257410347418
Adjustment 9714-24-31-213-651731
Changes in Working Capital -4-9-33-28-9-64-68-68-47-189
Tax Paid -11-17-26-31-50-71-4619-81-108
Cash Flow From Investing Activity -12-27-31-20-149-3277-345-181-157
Capex -11-73-14-175-46-61-97-38-58-192
Net Investments -367413-13419171-9129383
Others 2-22-2214231103-216-417-48
Cash Flow From Financing Activity -49-33-39-62-33-59-76-44-58-59
Net Proceeds from Shares 0000000131
Net Proceeds from Borrowing 012-120000000
Interest Paid -5-3-30-10-2-1-2-2
Dividend Paid -17-18-22-34-35-61-71-39-54-54
Others -26-24-3-2832-3-4-5-4
Net Cash Flow -3-12113-9-1156-93-3-64
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)9.648.8714.3618.2420.0114.6732.7319.7215.1815.68
ROCE (%)11.6711.7418.7423.8429.3422.3721.127.0419.8420.99
Asset Turnover Ratio0.50.570.620.650.660.580.560.530.570.59
PAT to CFO Conversion(x)1.1410.840.710.970.610.390.990.890.49
Working Capital Days
Receivable Days58606767576067788283
Inventory Days49383540393541475062
Payable Days9398113107846767737469

Navin Fluorine International Ltd Stock News

Navin Fluorine International Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Navin Fluorine Intl on 12-Apr-2024 16:59 is ₹3,296.1.
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 12-Apr-2024 16:59 the market cap of Navin Fluorine Intl stood at ₹16,339.9.
The latest P/E ratio of Navin Fluorine Intl as of 12-Apr-2024 16:59 is 58.56.
The latest P/B ratio of Navin Fluorine Intl as of 12-Apr-2024 16:59 is 7.14.
The 52-week high of Navin Fluorine Intl is ₹4,922 and the 52-week low is ₹2,900.2.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Navin Fluorine Intl is ₹1,476 ( Cr.) .

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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