Transcript of Earnings call held for the quarter and financial year ended March 31, 2026
NAVINFLUOR · price
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Navin Fluorine delivered strong Q4 FY26 results with revenue of INR938 crores (+34% YoY) and EBITDA of INR321 crores (+80%), with margins expanding to 34.2%. For FY26 full year, revenue grew 41% to INR3,314 crores while EBITDA more than doubled to INR1,082 crores with margins at 32.6%, up 992 basis points. The company declared a dividend of INR8.6 per share. All three business segments showed robust growth: HPP (INR393 crores, +20%), Specialty Chemicals (INR360 crores, +39%), and CDMO (INR186 crores, +61%). Key capex projects including the Chemours project (June-July commissioning), Dahej MPP debottlenecking, and R32 expansion (Q3 FY27) remain on track. Net debt to equity is negligible at 0.01x, with ROE/ROCE at 20-21%.
The company demonstrated strong operational leverage with 6 consecutive quarters of growth, supported by new capacity ramp-ups and favorable product mix. Management guided maintaining 30% EBITDA margin (+/- 1-2%) for FY27, with new capex projects expected to drive revenue growth as they transition from investment to revenue generation phase.