Navin Fluorine - Q2FY21 First Cut - ICICI Securities

(CMP: Rs. 2121, MCap: Rs. 10494 crore)

Numbers are better than estimates primarily led by better growth from value added segments such as CRAMS and speciality chemical.

Q2FY21 Earnings Summary

- Navin Fluorine reported topline growth of 16.8% YoY to Rs. 319 crore. The topline growth was outlined primarily on account of better performance from CRAMS and speciality chemical

- Lower employee cost owing to operating leverage improved OPM by 340bps YoY to 28.4% (highest in the history), leading to EBITDA growth of 33% YoY to Rs. 90.7 crore

- Lower taxes (28% v/s 32% in Q2FY20) improved bottom-line growth by 43% YoY to Rs. 67.8 crore.

- The company generated CFO to the tune of Rs. 121 crore (11% of TTM sales) largely on the back of better operational performance, which led FCF generation of Rs. 43 crore against Rs. 29 crore last year. The company announced interim dividend of Rs. 5/share

We would be coming out with a detailed report soon.

Shares of Navin Fluorine International Limited was last trading in BSE at Rs.2121.25 as compared to the previous close of Rs. 2136.2. The total number of shares traded during the day was 6050 in over 1047 trades.

The stock hit an intraday high of Rs. 2180 and intraday low of 2116.1. The net turnover during the day was Rs. 12984764.

Source : Equity Bulls

Keywords