Navin Flourine gained 3.66% to Rs 3,305.30 after its board appointed Nitin Kulkarni as the managing director (MD) and key managerial personnel of the company with effect from 24 June 2024 for a period of five years.
The appointment based on the recommendations of nomination and remuneration committee of the board of directors.
Nitin Kulkarni has over three decades of experience across the specialty chemicals value chain, specifically covering fluoro-chemicals and CDMO. He holds a Masters in Organic Chemistry from the University of Mumbai.
In his last role as executive director at OC Specialty for over a decade, he played an entrepreneurial and pivotal role in conceptualising and establishing OC Specialty as a leading global player in the specialty chemical and CDMO space with customers across India, Europe, North America, Japan and China.
Navin Fluorine International belongs to a reputed industrial house of Padmanabh Mafatlal Group in India. It has largest integrated fluorochemicals complex in India. The company primarily focuses on fluorine chemistry - producing refrigeration gases, chemicals, inorganic bulk fluorides, specialty organofluorines and offers Contract Research and manufacturing services.
The company reported 48% decrease in consolidated net profit to Rs 70.4 crore on 14% fall in revenue from operations to Rs 602 crore in Q4 FY24 over Q4 FY23.
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