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Swing Capital

Navin Fluorine International Ltd

NSE: NAVINFLUOR BSE: 532504

Navin Fluorine International Ltd is primary engaged in producing refrigeration gases, inorganic fluorides, specialty organofluorines and offers contract research and manufacturing services.[1] Its portfolio includes 50+ fluorinated compounds developed over the years.[2]

₹6,923
52W: ₹4188 — ₹7208
PE 72.1 · Book ₹715 · +868% vs book
Market Cap₹35,509 Cr
Stock P/E72.1Price to Earnings
ROCE21.3%Return on Capital
ROE16%Return on Equity
Div. Yield0.22%Face Value ₹2

Strengths

  • +Company is almost debt free.
  • +Company is expected to give good quarter
  • +Company has been maintaining a healthy dividend payout of 20.6%

Weaknesses

  • −Stock is trading at 9.68 times its book value
  • −Company has a low return on equity of 11.8% over last 3 years.
  • −Working capital days have increased from 145 days to 251 days

Shareholding Pattern

Promoters27.1%
FIIs23.78%
DIIs27.61%
Public21.49%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters28.8%28.43%▼0.428.43%28.43%28.01%▼0.427.11%▼0.927.11%27.1%▼0.0
FIIs18.02%18.23%▲0.218.55%▲0.320.16%▲1.621.55%▲1.422.15%▲0.623.74%▲1.623.78%▲0.0
DIIs27.29%28.18%▲0.928.46%▲0.330.04%▲1.628.7%▼1.329.57%▲0.928.09%▼1.527.61%▼0.5
Public25.89%25.15%▼0.724.55%▼0.621.37%▼3.221.72%▲0.321.16%▼0.621.06%▼0.121.49%▲0.4

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales359397376386440485543562570627
Expenses319346313314348373389397409443
Operating Profit3951637292112154165161184
OPM %11%13%17%19%21%23%28%29%28%29%
Net Profit724450506577113134106135
EPS ₹14.568.8710.0910.0913.1515.4522.7426.1620.6626.35

AI Insights

Revenue Trend

Mar 2026 revenue at ₹2,302Cr, up 36.5% YoY. OPM at 29%.

Debt Position

Borrowings at ₹92Cr. Debt-to-equity ratio: 0.03x. Healthy balance sheet.

Capex Cycle

CWIP at ₹64Cr (7% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 27.61% (+1.64pp change). FIIs: 23.78% (+5.28pp change). Promoters hold 27.1%.

Margin & Efficiency

ROCE improving from 10% (Mar 2015) to 21% (Mar 2026). Working capital days: 251.

Valuation

PE 72.1x with 21.3% ROCE. Price is 868% above book value of ₹715. Dividend yield: 0.22%.

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