Navin Fluorine stock zooms 15%, hits record high; here's why

MOFSL expect momentum to sustain in 2HFY26, supported by the stable pricing environment of refrigerant gases, robust order book pipeline, and higher realizations and volumes.

Share price of Navin Fluorine International today

 

Shares of Navin Fluorine International hit a record high of ₹5,746.60, as they zoomed 15 per cent on the BSE in Friday’s intra-day trade after the company reported strong earnings for the quarter ended September 2025 (Q2FY26).

 

The stock price of the specialty chemicals surpassed its previous high of ₹5,442.15 touched on July 31, 2025. Thus far in the calendar year 2025, it has rallied 77 per cent, as compared to a 7.8 per cent rise in the BSE Sensex.

 

What’s driving Navin Fluorine today?

 

Strong Q2 results - Navin Fluorine posted strong earnings for Q2FY26, with operating earnings before interest, taxes, depreciation, and amortization (EBITDA) gwowring by 129 per cent year-on-year (Y-o-Y) at ₹246 crore. EBITDA margins improved 1,176 bps Y-o-Y at 32.5 per cent. 

 

 

Revenue in Q2FY26 stood at ₹758 crore, up 46 per cent Y-o-Y. Segment wise, all three segments reported a strong growth with HPP (Refrigerants +Inorganic Fluoride + HPP, 53 per cent of revenue), up 38 per cent Y-o-Y, Speciality Chemical (29 per cent of revenue), up 39 per cent Y-o-Y and CRAMS (18 per cent of revenue) witnessing a growth of 97 per cent Y-o-Y.

 

The company said HPP segment revenue growth led by higher realizations and volumes in both domestic and well as international markets. The strong outlook for the specialty chemicals segment for H2 backed by purchase orders, de-bottlenecking multipurpose plant (MPP) capacity at Dahej to support launch of new molecules for a global innovator, the company said. 

 

Capex plan - The board has approved capital expenditure of ₹236.50 crore, for setting up an additional HFC capacity upto 15K MTPA R32 equivalent quantity at Surat unit of the company. The capex plan caters to the growing demand from the domestic and export markets.

 

The board has approved funding of ₹75 crore for debottlenecking of Multi Purpose Plant facility at Dahej by the company’s wholly-owned subsidiary, Navin Fluorine Advanced Sciences Limited. This will expand the product basket and deepen relationships with a global innovator.

 

Interim dividend - The board has declared an interim dividend of ₹6.50 per equity share of the face value of ₹2 each (i.e. 325 per cent of the face value) for the financial year 2025-2026. The company fixed November 07, 2025 as the Record Date for ascertaining eligibility for the payment. The interim dividend will be paid on or after November 27, 2025. 

 

Brokerages view on Navin Fluorine

 

Traction in HPP was driven by strong realizations and volumes in both domestic and well as international markets with R32 refrigerant gas running at optimal capacity. Speciality chemicals too reported a strong growth with the de-bottlenecking of the MPP capacity at Dahej to support launch of a new molecule for a global innovator ahead.  

 

In the CDMO business the supplies concluded for the material order in Q2 FY26 and the company is in discussion for the future supplies. Moreover, scale up orders were received for supplies in Q3 & Q4 FY26. Based on strong order book position and favorable operating leverage, the management has raised EBITDA guidance to 28-30 per cent for FY26 from an earlier guidance of ~25 per cent, ICICI Securities said in a note.

 

Motilal Oswal Financial Services expects this momentum to sustain in 2HFY26, supported by the stable pricing environment of refrigerant gases, robust order book pipeline, and higher realizations and volumes in both domestic and international markets, leading to higher EBITDA margin.

 

On the back of a robust 1HFY26, the brokerage firm believes the company is well-positioned to sustain its growth momentum in 2HFY26, led by robust order books, strategic customer relationships, ongoing R&D investment, new product launches, and repeats orders expected in CY26.