Navin Fluorine International

“We continue to see strong momentum with our FY27 target well within reach, supported by encouraging business developments and healthy product pipeline.”

“We're very conscious of the fact that with the capexes we have in place, our growth to FY28 is pretty much baked in.”

“For this year itself, for FY27, just to be clear, we are going to be working on the margins that you see for the first half in the same sort of range for the year.”

“Our HFC capacity expansion is progressing as planned and remains on track for commissioning shortly.”

“The Chemours project, which will enable us to participate in the emerging advanced cooling market, is also progressing towards commissioning in Q3 FY27.”

“Our investment in advanced material adoption capacity is progressing as per schedule and is expected to commission by Q2 FY28.”

“So in fact, the delay is a conscious choice rather than anything else between the partners. And this is evidenced by the fact that as we are coming to commission that asset, we already have orders in place coming in for the future quarters.”

“So we can actually go to cGMP 5 pretty quickly with the infra there in terms of the utility, etcetera.”

“During the quarter, we commissioned the debottlenecking of our MPP capacity at Dahej in September 2026, further enhancing our production capabilities.”

“Our new AHF facility has witnessed an improvement in utilization, contributing to our growth momentum and R32 capex is progressing as planned and remains on track for commissioning shortly.”

“I mean, in fact, if you see specialty MPP-1, MPP-2, we will have far exceeded the PAR by the end of this year.”

“You will also see growth coming in HPP from the new R32 commission plant that is being commissioned shortly. Of course, it will ramp up towards the end of this quarter, and we'll start to see some incremental sort of growth coming in this quarter, but then full ramp-up possibly in the next quarter, yes.”

“cGMP 4 Phase 1 and Phase 2, Ankur are both dedicated plants to Fermion. So this is going to be completely dedicated plants.”

“CDMO, of course, like we said, and I think Vishad and Nitin mentioned, we are at the striking distance of our USD100 million target in terms of order book visibility.”

“In the Specialty Chemical business, we continue to see healthy growth momentum supported by strong order visibility for the second half of FY27 and beyond”

“We've also had good volumes because like we've said before, our AHF plant has come into play. So volumes on AHF are pretty good.”

“Also Q-on-Q, we've had growth in the Orchid business too, the HFO business of Solstice.”

“CDMO, there is growth both from the base business from Fermion as well as some encouraging new qualification campaigns that we've run too.”

“We recently commissioned the debottlenecking at the end of September. So you should start to see growth coming in from that in the specialty even beyond where we are today because that hasn't been factored in the numbers.”

“We are also witnessing encouraging customer interest in our upcoming capacities, providing good visibility for the business going forward.”

“Again, you know the potential market over there, even at 50%, just the Indian market is roughly about INR400 crores in the pharma side, yes.”

“Today, we are seeing that it's actually far larger than that, that we're able to place. And some of the material that we are placing is also going in the international markets and also serving high pure HF as well.”

“But if you look at what's available in the public domain, you will see that Chemours earlier in this year qualified its product with a French company called 2CRSi, and they are one of the OEM manufacturers of high compute kits.”

“think the fact that as we commission the project and we have line of sight and purchase orders in hand from Chemours, again signals that there is demand for the adoption that's coming through.”

“In our HPP business, we continued to deliver healthy revenue growth during the quarter, supported by higher volumes and improved realization. The pricing environment for HFC remains firm, with realization improved on a sequential basis.”

“okay, you know, we are able to, between the forex tailwind and the price actions -- pricing actions we are taking, largely we are able to offset the sourcing impacts.”

“Also, what is happening for us is operating leverage is playing in. Plus, there is a lot of effort being done on operating efficiency, which is also helping capture and protect the EBITDA.”

“I mean when you look at how HF prices have gone up, you should also look at how prices for sulfur, gas, right? A lot of raw materials has gone up, right? Fluorspar is also going up.”

“So I mean, frankly, I think in this sort of an environment, a 34% EBITDA is really a solid EBITDA that cannot come only from pricing. That has to continuously come from the efficiencies and the improvements we drive within the organization.”

“Our EPS stood at INR100 and our net operating working capital days stood at 72 days, which is within our financial framework.”

“So what I mean by that is we've built a very strong balance sheet and a very strong capital frame, which allows us to hold our working capital to 70 to 75 days.”

“And all of that means that we are able to generate an EBITDA conversion of 60% which 60%, 65% on a more sustainable basis.”

“We are focusing on specialized applications across areas such as data centers, electronics, semiconductors and defense, leveraging our expertise in fluorination chemistry and R&D capability.”

“We've also said before that as we do the other HFOs, we will be looking both at partnership models as well as product models, yes, depending on whatever suits best for us.”

“Again, like we shared, this molecule has dual use, yes. So as and when the product is developed, we will be accelerating the application in the pharma phase sooner than what time the defense takes”

“I am also pleased to share that the Board has declared an interim dividend of INR8 per equity share with a face value of INR2 per share.”

“So exactly, I mean, so we'll all have to remain committed and agile to respond to the geopolitical challenges because I don't think we are out of the winds yet in terms of the geopolitics.”

“Coming to our performance in the first half of FY27, our PAT crossed INR500 crores with an EPS of INR100.”

“by 4 years until December 2032 and will have an additional revenue potential of approximately USD180 million.”

“The TDF project to develop an indigenous specialty material with DRDO is progressing well as per schedule.”

“We are also investing in renewable energy across plants, which will meet more than 60% of our energy requirements through renewable resources.”

“On a consolidated basis, operating revenue for the quarter stood at INR1,191 crores, registering a year-on-year growth of 57%.”