Navin Fluorine International Ltd.'s stock jumped as high as 7.46% to Rs 8,177 on Thursday, after the company's bottom-line soared over 2X in the first quarter of financial year 2027.
NFIL posted a a consolidated net profit of Rs 243 crore for the first quarter, more than doubling from Rs 117.1 crore in the corresponding period last year.
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Revenue from operations climbed 44% year-on-year to Rs 1,045 crore, compared with Rs 725 crore a year earlier, reflecting strong business momentum across its operations.
ALSO READ: Navin Fluorine Q1 Results: Profit Doubles, Margin Expands; Revenue Tops Rs 1,000 Crore
Earnings before interest, tax, depreciation and amortisation rose 72.6% to Rs 357 crore, up from Rs 207 crore in the year-ago period. The company's Ebitda margin expanded to 34.2%, compared with 28.5% in the same quarter last year.
As of 9:30 a.m. the shares traded 6.5% higher at Rs 8,134 apiece on the NSE. The share price has risen 37.3% year-to-date and 60.7% in the last 12 months.
ALSO READ: Double Hikes: Jefferies, Citi Raise Navin Fluorine's Target Price On Q1 Beat, New Capex Initiatives
Brokerages' Take
Navin Fluorine has bagged price target target hikes from Jefferies and Citi after first quarter earnings largely beat expectations. A strong pipeline of orders, and new capital expenditure initiatives also back the brokerages TP raises.
However, while it hiked TP to Rs 7,200 from Rs 6,500, Citi has maintained a 'sell' call on the stock, citing unfavourable risk-reward ratio. The brokerage flagged that the stock is up 50% over the past year, partly factoring in the recent earnings strength.
Citi sees downside risk to refrigerant gas R32 pricing in India over the next year. NFIL's India's capacity is increasing from 44 kilotonnes per annum to 133 kilotonnes per annum, and a $1/kg price change in R32 pricing will hit the fluorochemical manufacturer's FY28 Ebitda margin by 14%.
Jefferies, on the other hand, maintains a 'buy' call on the stock and has raised its price target from Rs 8,700 to Rs 9,045 on the back of strong earnings, and valuation being below the long-term average.
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