Navin Fluorine - Dahej Site To Enable Strong, Sustainable Growth: Prabhudas Lilladher

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Prabhudas Lilladher Report.We visited Dahej site of Navin Fluorine Advanced Sciences Ltd.; Navin Fluorine International Ltd.’s 100% subsidiary) spread over ~75 acres plot housing-one dedicated plant producing two products (hydrofluoroolefin and its intermediate for Honeywell),one dedicated plant producing an intermediate for an agrochemical customer anda multi-purpose plant currently manufacturing three products (multiple customers). The site reflects extremely strong project execution along with management’s futuristic thought process, as its designed to produce all raw materials in MPP’s (capability in place) and is long term self-sustainable with limited external dependence for by-product/ waste handling. We are of the view that Navin Fluorine will grow its earnings by ~30% compound annual growth rate (over FY23- 25E) led by large capex (FY25E gross block at more than three times of FY22) and strong revenue visibility as supplies are largely under long term contracts, while Ebitda margin trajectory strengthens (closer to ~30%) as all new projects are undertaken at superior margins. Navin Fluorine’s strong balance sheet enables large capex with only transient increase in debt..Click on the attachment to read the full report:.Navin Fluorine - On Track To Achieve Greater Heights: Motilal Oswal.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Navin Fluorine - Dahej Site To Enable Strong, Sustainable Growth: Prabhudas Lilladher

Navin Fluorine’s strong balance sheet enables large capex with only transient increase in debt.

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