Navin Fluorine International declined 4.91% to Rs 3,101.20 after the company's consolidated net profit declined 26.78% to Rs 78.02 crore in Q3 FY24 as compared with Rs 106.56 crore posted in Q3 FY23.
Revenue from operations fell 10.96% to Rs 501.82 crore in Q3 FY24 as against Rs 563.58 crore recorded in Q3 FY23.During the quarter profit before tax fell 26% YoY to Rs 97.15 crore.
Operating EBITDA stood at Rs 75.7 crore as on 31 December 2023, registering the de-growth of 51% YoY from Rs 155.6 crore recorded in the same quarter of the previous year. Operating EBITDA margin contracted to 15.1% in Q3 FY24 from 27.6% in Q3 FY23.
Revenue from Speciality Chemicals stood at Rs 177 crore (down 4.5% YoY), revenue from HPP was at Rs 251 crore (down 0.6% YoY) and CMDO business stood at Rs 73 crore (down 41.5%YoY) during the period under review.
Meanwhile, the companys board has approved capital expenditure of Rs 288 crore for new cGMP-4 facility at Dewas unit of the company, to be spent in two or more phases and Rs 84 crore for expansion of HFC capacity at Surat unit of the company
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.
Shares of Navin Fluorine International shed 0.64% to Rs 3,416 on the BSE. It also hit an 52-week low at Rs 3,032 in intraday today.
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