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Nirmal Bang Report
Navin Fluorine International Ltd.'s Q2 FY21 performance was significantly ahead of consensus estimates on all parameters.
Beat on consolidated revenue/Ebitda/profit after tax was to the tune of approximately 16%/~ 30%/~ 38%.
Contract research and manufacturing services business grew by 111% YoY, led by ramp-up of cGMP3 capacity and some bunched-up orders from the previous year.
The management has increased its expected CRAMS quarterly run-rate from ~Rs 500 million to ~Rs 650 million (~30% up) going forward.
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