Navin Fluorine hits record high after robust Q3 earnings

Navin Fluorine International soared 8.42% to Rs 1197 after consolidated net profit rose 16.8% to Rs 45.13 crore in Q3 December 2019 as against Rs 38.63 crore reported in Q3 December 2018.

Net sales grew 11.4% year-on year (YoY) to Rs 260.50 crore. Profit before tax (PBT) for Q3 December 2019 (Q3 FY20) stood at Rs 67.29 crore, up by 20.4% against Rs 55.89 crore in Q3 December 2018 (Q3 FY19). Tax expenses rose 24.3% to Rs 20.33 crore in Q3 FY20 from Rs 16.36 crore reported in Q3 FY19. The result was announced after market hours yesterday, 27 January 2020.

Operating EBITDA jumped 26% to Rs 65.5 crore in Q3 FY20 up from Rs 51.9 crore reported in Q3 FY19. EBITDA margin grew by 297 basis points to 25.1% in Q3 December 2019 from 22.2% posted in Q3 December 2018.

 

Strong performance in domestic & export market was driven by higher volumes. Strong project pipeline in life science & crop science continues to drive growth. Overall increase in profitability was due to better pricing and lower cost. Strong demand came from non-emissive sector. Prices of major raw material had seen drop.

The company has also declared an interim dividend of Rs 4 per equity share. The stock hit an intraday high of Rs 1,202 on BSE which is also a record high for the counter.

Navin Fluorine International is one of the manufacturers of speciality fluorochemicals.

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