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ICICI Direct Report
Navin Fluorine International Ltd.'s numbers were above our estimates across all parameters, led by strong growth from speciality chemical, inorganic fluoride and refrigerants.
Reported revenue growth was 23% YoY to Rs 379 crore, led by speciality chemical (up 25% YoY), inorganic fluoride (up 46% YoY) and refrigerants (up 53% YoY).
Navin Fluorine's gross margins were up 170 basis points YoY to 55.6% while Ebitda margin was up 40 bps YoY to 26%, due to higher operating cost such as employee (up 30% YoY) and other cost (up 28% YoY).
Ebitda was up 24% YoY to Rs 98.6 crore. Profit after tax increased 17% YoY to Rs 68.8 crore.
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