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Navin Fluorine stock hits record high after June quarter jump
Navin Fluorine reported June quarter net profit of ₹243.3 crore, up 108% year over year, as revenue from operations rose to ₹1,045 crore.
Navin Fluorine shares surged 14% to an all-time high of ₹8,648 in intraday trading on August 6 after the company posted a better-than-expected June quarter performance, prompting domestic brokerages to raise their target prices and reiterate bullish views.
The company’s consolidated net profit for the June quarter came in at ₹243.31 crore, a 108% year-over-year increase from ₹117.16 crore in the same quarter last year. Profit also rose 14.4% sequentially from ₹213 crore in the March quarter, while revenue from operations climbed to ₹1,045 crore, up 44.1% year over year and 11.5% quarter over quarter, supported by business momentum.
Axis Securities lifted its target price to ₹8,600 from ₹8,000 and kept a Buy rating, saying the company’s outlook for sustainable growth is supported by a pipeline of opportunities and upcoming commissioning of capacity expansions, including new HFC capacity, MPP de-bottlenecking, and the Chemours liquid cooling project.
JM Financial also raised its target price to ₹9,000 from ₹8,200 with a Buy rating, pointing to growth drivers such as ramp-up of additional 15,000 MTPA R-32 capacity, the AHF facility, expansion of a European major CDMO contract through the ₹125-crore cGMP-4 Phase II facility, and further CDMO molecules in the pipeline, as well as commercialisation of the Chemours project. It raised its FY27 and FY28 EPS estimates by 13% and 5%, respectively, and introduced FY29 estimates to reflect the strong Q1FY27 performance.