Navin Fluorine International logo

Navin Fluorine International share price

NSE: NAVINFLUORBSE: 532504Chemicals & PetrochemicalsSmall Cap

Navin Fluorine International Limited · Face value ₹2 · Listed Sep 2003 on BSE, Jun 2007 on NSE
Last close ₹8,254.00up ₹592.00 (7.73%)BSE ₹8,264.80

Share price at the NSE close on 27 Oct 2026. Previous close ₹7,662.00.

27 Oct: open ₹7,724.50, high ₹8,317.00, low ₹7,720.00

52-week range of traded prices to 27 Oct 2026
₹4,890.70Low, 30 Oct 2025₹8,949.50High, 9 Sep 2026
Market cap
₹42,350 Cr251st largest listed
P/E
53.63
P/B
10.66
Dividend yield
0.18%
ROE
23.9%
ROCE
20.7%
Debt to equity
0.31
Volume, NSE
3,23,52460.8% delivered

Navin Fluorine International share price chart

Daily closes since Jan 2007, BSE closes Jan 2007 to May 2007, adjusted for splits and bonuses

+63.6%over a year · Nifty Chemicals −8.2% · Nifty 500 −8.8%

ResultsDividend20-session average 1,09,920 shares a day, 55.7% delivered

About Navin Fluorine International

Navin Fluorine International Limited is a fluorine chemistry company: it makes refrigerant gases, inorganic fluorides and specialty fluorine chemicals, and offers contract research and manufacturing services.1 Its customers include global life science and crop science companies, stainless steel makers and air-conditioner manufacturers, in India and across North America, Europe, the Middle East and Asia Pacific.23

It reports 3 business verticals: High Performance Products (HPP), Specialty Chemicals, and contract development and manufacturing (CDMO).4 HPP makes refrigerant gases sold under the Mafron brand and inorganic chemicals such as hydrofluoric acid.5 Specialty Chemicals makes complex, multi-stage fluorine chemicals for global crop science, life sciences and performance materials companies.6 The CDMO business, Navin Molecular, develops, scales up and makes complex compounds for global drug companies.7 It has 4 manufacturing units, at Surat and Dahej in Gujarat, Dewas in Madhya Pradesh and Runcorn in the UK, and 3 research centres.8910 The Dahej plant belongs to its wholly owned subsidiary Navin Fluorine Advanced Sciences Limited, which began commercial operations in the year to Mar 2023.1112

It was founded in 1967, when it set up its plant at Surat and introduced refrigerants to India.5 The present company was incorporated in 1998.13 It set up its Dewas site in 1978, and in 2011 it acquired a controlling stake in Manchester Organics in the UK, which it now owns fully.1412

It is part of the Padmanabh Mafatlal Group and is led by Executive Chairman Vishad P. Mafatlal and Managing Director Nitin G. Kulkarni.3

Navin Fluorine International key points

Results

  • In the quarter to Jun 2026, consolidated revenue was ₹1,045.1 crore, up 44% on a year earlier; operating EBITDA (earnings before interest, tax, depreciation and amortisation) was ₹357.1 crore, up 73%, a margin of 34.2%; profit after tax was ₹243 crore, up 108%.1516
  • In the year to Mar 2026, consolidated revenue was ₹3,313.90 crore, up 41.05%, operating EBITDA ₹1,081.68 crore, up 102.67%, and net profit ₹663.55 crore, up 129.94%. The EBITDA margin was 32.64%, against 22.72% a year earlier.17
  • Revenue and profit grew for 6 consecutive quarters up to Mar 2026, the company says.18
  • The company became net debt free (cash above borrowings) during the quarter to Jun 2026, and its net working capital (money tied up in day-to-day operations) was 81 days of sales.19

Business segments

  • Revenue by business, quarter to Jun 202620
    Itemquarter to Jun 2026
    HPP₹540 crore
    Specialty Chemicals₹325 crore
    CDMO₹180 crore
    Growth on a year earlier: HPP 33%, Specialty Chemicals 48%, CDMO 82%.
  • Revenue by business, year to Mar 202621
    Itemyear to Mar 2026year to Mar 2025
    HPP₹1,615.38 crore₹1,206.14 crore
    Specialty Chemicals₹1,152.09 crore₹800.42 crore
    CDMO₹546.43 crore₹342.82 crore
    Shares of revenue: HPP 48.75%, Specialty Chemicals 34.76%, CDMO 16.49%.

Where revenue comes from

  • Exports and sales in India, year to Mar 202622
    Itemyear to Mar 2026
    Exports₹2,225.40 crore
    India₹1,088.50 crore
  • Exports as a share of each business's revenue23
    Itemyear to Mar 2026year to Mar 2025
    HPP54.74%55.62%
    Specialty Chemicals70.77%51.47%
    CDMO96.24%70.53%

Plants and capacity

  • Anhydrous hydrofluoric acid (AHF), a key input for its refrigerants, is now made at both Surat and Dahej.2425
  • The company said on its call of 5 Aug 2026 that it has 9,000 to 10,000 tonnes of capacity for R32, a refrigerant gas.26
  • In the year to Mar 2026 it produced 2,40,032.35 tonnes across 74 offerings.27
  • Commercial production at Phase 1 of the cGMP-4 plant at Dewas, built to drug-making quality rules, began on 31 Dec 2025 after its European partner validated batches.28

Research and development

  • R&D spending was ₹48.71 crore in the year to Mar 2026. The Surat research centre has 65 chemists and 40 engineers; the drug development teams have 70 people at Dewas and 18 at Runcorn.29
  • In CDMO, the company said on its call of 5 Aug 2026 that it was working on 30 to 40 molecules, about 10 of them in late stage.30
  • In advanced materials, at least 4 to 5 products have been qualified by customers, and the company is developing a specialty material in India with DRDO, the defence research organisation.3132

Expansion and capital spending

  • In its presentation of 5 Aug 2026, the company said its ₹236.5 crore HFC project, equal to up to 15,000 tonnes a year of R32, was on track for the quarter to Dec 2026, with peak revenue potential of ₹600 to 825 crore a year.3334
  • On its earnings call of 5 Aug 2026, the company said it had started the ₹125 crore Phase 2 of its cGMP4 plan, part of ₹288 crore approved earlier, for its European CDMO partner, with operations expected by the quarter to Mar 2027.35
  • In its presentation of 5 Aug 2026, the company said it plans ₹90 crore of capacity at Surat to bring advanced materials for data centres, electronics, defence and semiconductors to commercial scale by the quarter to Sep 2027.363738
  • In its presentation of 5 Aug 2026, the company said its ₹120 crore plant to make Chemours's Opteon immersion cooling fluid for data centres, 35% funded by Chemours, was targeted for the quarter to Sep 2026. Its documents give no outcome.3940

What the company expects

  • On its earnings call of 5 Aug 2026, the company said it expects its EBITDA margin to stay around 32% to 33%, plus or minus 1%, as new capacities come in.41
  • On its earnings call of 5 Aug 2026, the company said it aims to make advanced materials a material business by the end of the decade, one that should look like its CDMO business today.42

Recent events

  • On 29 Sep 2026, its subsidiary Navin Fluorine Advanced Sciences began commercial production from the ₹75 crore debottlenecking (removing output limits) of its multi-purpose plant at Dahej.43
  • On 13 Aug 2026, CARE Ratings upgraded the company's credit rating (an agency's view of its ability to repay debt) to CARE AA+; Stable from CARE AA; Stable.44
  • On 6 Feb 2026, a new ₹450 crore hydrofluoric acid plant at Dahej, with capacity of 40,000 tonnes a year, began commercial production.45
  • On 11 Jul 2025, it allotted 16,02,564 shares to qualified institutional buyers at ₹4,680 each, raising ₹750 crore, used to repay borrowings and for general corporate purposes.4647

Last updated

All 47 sources, each with its page
  1. 1. Annual report, 15 Jul 2026, page 291
  2. 2. Annual report, 15 Jul 2026, page 135
  3. 3. Annual report, 15 Jul 2026, page 10
  4. 4. Annual report, 15 Jul 2026, page 112
  5. 5. Annual report, 15 Jul 2026, page 30
  6. 6. Annual report, 15 Jul 2026, page 32
  7. 7. Annual report, 15 Jul 2026, page 34
  8. 8. Annual report, 15 Jul 2026, page 14
  9. 9. Annual report, 15 Jul 2026, page 3
  10. 10. Annual report, 15 Jul 2026, page 194
  11. 11. Annual report, 15 Jul 2026, page 131
  12. 12. Annual report, 15 Jul 2026, page 94
  13. 13. Annual report, 15 Jul 2026, page 3
  14. 14. Annual report, 15 Jul 2026, page 11
  15. 15. Investor presentation, 5 Aug 2026, page 4
  16. 16. Earnings call, 5 Aug 2026, page 6
  17. 17. Annual report, 15 Jul 2026, page 13
  18. 18. Annual report, 15 Jul 2026, page 6
  19. 19. Earnings call, 5 Aug 2026, page 6
  20. 20. Earnings call, 5 Aug 2026, page 5
  21. 21. Annual report, 15 Jul 2026, page 93
  22. 22. Annual report, 15 Jul 2026, page 14
  23. 23. Annual report, 15 Jul 2026, page 112
  24. 24. Annual report, 15 Jul 2026, page 31
  25. 25. Annual report, 15 Jul 2026, page 30
  26. 26. Earnings call, 5 Aug 2026, page 8
  27. 27. Annual report, 15 Jul 2026, page 14
  28. 28. Exchange filing, 31 Dec 2025, page 1
  29. 29. Annual report, 15 Jul 2026, page 43
  30. 30. Earnings call, 5 Aug 2026, page 13
  31. 31. Earnings call, 5 Aug 2026, page 10
  32. 32. Earnings call, 5 Aug 2026, page 4
  33. 33. Investor presentation, 5 Aug 2026, page 6
  34. 34. Investor presentation, 5 Aug 2026, page 11
  35. 35. Earnings call, 5 Aug 2026, page 4
  36. 36. Investor presentation, 5 Aug 2026, page 9
  37. 37. Investor presentation, 5 Aug 2026, page 10
  38. 38. Earnings call, 5 Aug 2026, page 16
  39. 39. Investor presentation, 5 Aug 2026, page 11
  40. 40. Annual report, 15 Jul 2026, page 42
  41. 41. Earnings call, 5 Aug 2026, page 15
  42. 42. Earnings call, 5 Aug 2026, page 6
  43. 43. Exchange filing, 29 Sep 2026, page 1
  44. 44. Exchange filing, 13 Aug 2026, page 1
  45. 45. Exchange filing, 6 Feb 2026, page 1
  46. 46. Annual report, 15 Jul 2026, page 18
  47. 47. Annual report, 15 Jul 2026, page 95
Revenue growth, 12 months
+42.4%
Net profit growth, 12 months
+122.7%

Quarter to Jun 2026, against the quarter before

Revenue
₹1,045 Crup 11.45%
Net profit
₹243 Crup 14.43%
Net margin
23.3%

Revenue by quarter

₹519 CrSep 24₹606 CrDec 24₹701 CrMar 25₹725 CrJun 25₹758 CrSep 25₹892 CrDec 25₹938 CrMar 26₹1,045 CrJun 26
Peak revenue ₹1,045 Cr, quarter to Jun 2026; lowest ₹519 Cr, quarter to Sep 2024

Net profit by quarter, a loss in red

₹59 CrSep 24₹84 CrDec 24₹95 CrMar 25₹117 CrJun 25₹148 CrSep 25₹185 CrDec 25₹213 CrMar 26₹243 CrJun 26
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue5196067017257588929381,045
Net profit598495117148185213243
Net margin11.3%13.8%13.5%16.2%19.6%20.8%22.7%23.3%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

In the year to Mar 2026 the company reports one business segment, Chemicals, which carries all its revenue.

Valuation

Today, against the company's own history.Navin Fluorine International PE ratio and valuation

Price to earnings

At or below today's level on 51% of 2,478 trading days over the last 10 years.

LowestHighest
Its median53.20Industry median24.22
Price to book

At or below today's level on 81% of 1,980 trading days since Oct 2018.

LowestHighest
Its median8.45Industry median2.48
Dividend yield

At or below today's level on 2% of 2,478 trading days over the last 10 years.

LowestHighest
Its median0.43%Industry median0.55%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year+46.6%+124.5%−34.8%0.2%
3 years+13.3%+20.0%−5.8%0.3%
5 years+17.8%+20.2%−2.3%0.3%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.Navin Fluorine International shareholding pattern

Shareholding by group

  • Promoters27.08%
  • Foreign institutions23.38%
  • Indian institutions28.70%
  • Individuals and others20.85%
Holder
MAFATLAL IMPEX PRIVATE LIMITED (Mafatlal Exim Pvt Ltd amalgamated with Mafatlal Impex Pvt Ltd)Promoter25.41%
GOVERNMENT PENSION FUND GLOBALForeign portfolio investors, category I3.23%
LIFE INSURANCE CORPORATION OF INDIAOther Indian institutions2.00%
INVESTOR EDUCATION AND PROTECTION FUND AUTHORITYInvestor education fund1.18%
VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUNDForeign portfolio investors, category I1.06%
VANGUARD EMERGING MARKETS STOCK INDEX FUNDForeign portfolio investors, category I1.02%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters unchanged, foreign institutions −0.35 pts, Indian institutions +0.24 pts, mutual funds +1.83 pts.

Mutual fund holdings

229 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 68 of the 112 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 2 more funds filed their first portfolio on record, holding it.All 229 funds holding Navin Fluorine International

Bought for the first time
2
Added
48
Cut
64
Held unchanged
113
Sold out
1
Fund
SBI Mutual Fund logoSBI Small Cap FundSBI Mutual Fund16,31,7953.28%₹1,345.4 Cr
Nippon India Mutual Fund logoNippon India Small Cap FundNippon India Mutual Fund5,67,3680.58%₹467.8 Cr
Axis Mutual Fund logoAxis Small Cap FundAxis Mutual Fund5,22,6481.40%₹430.9 Cr
HSBC Mutual Fund logoHSBC Small Cap FundHSBC Mutual Fund4,21,8741.88%₹347.8 Cr
Axis Mutual Fund logoAxis ELSS Tax Saver FundAxis Mutual Fund4,16,3261.13%₹343.3 Cr
HSBC Mutual Fund logoHSBC Midcap FundHSBC Mutual Fund4,08,9702.01%₹337.2 Cr
SBI Mutual Fund logoSBI ELSS Tax Saver FundSBI Mutual Fund3,51,9740.97%₹290.2 Cr
SBI Mutual Fund logoSBI Multicap FundSBI Mutual Fund3,00,0001.05%₹247.4 Cr
SBI Mutual Fund logoSBI MNC FundSBI Mutual Fund2,80,0003.62%₹230.9 Cr
DSP Mutual Fund logoDSP Small Cap FundDSP Mutual Fund2,61,3571.00%₹215.5 Cr
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 28 Oct 2025.Navin Fluorine International insider trading

Bought on the market Sold on the market
  • Employees0 purchases, 1 saleNo purchase₹0.12 CrNet−₹0.12 Cr3 off-market moves
  • Promoters and promoter group: no market trade · 1 pledge released
  • Others: no market trade · 18 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

Navin Fluorine International competitors and peers

Specialty Chemicals, 130 listed companies, priced on 27 Oct 2026. The table lists the 8 companies closest to Navin Fluorine International in market cap.Chemical companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Pidilite Industries logoPidilite IndustriesPIDILITIND1,47,68855.7513.63+14.1%+21.4%25.7%30.3%0.79%
SRF logoSRFSRF69,21530.324.52+19.7%+41.1%16.0%15.1%0.43%
Gujarat Fluorochemicals logoGujarat FluorochemicalsFLUOROCHEM46,52975.665.92+9.5%−1.1%8.1%9.8%0.07%
Aether Industries logoAether IndustriesAETHER20,406–8.31+33.8%––10.7%0.00%
Deepak Nitrite logoDeepak NitriteDEEPAKNTR19,52524.933.35+7.1%+29.2%14.0%14.8%0.52%
Atul logoAtulATUL15,93820.652.42+18.1%+42.4%12.4%12.5%0.55%
Aarti Industries logoAarti IndustriesAARTIIND15,80529.752.65+27.1%+123.7%9.2%7.9%0.23%
Fine Organic Industries logoFine Organic IndustriesFINEORG15,66035.745.88+7.3%+5.7%17.7%17.6%0.22%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.Navin Fluorine International dividend history

Dividend per share, ₹, restated for later splits and bonuses

6.3Mar 1710Mar 187.8Mar 1911Mar 2011Mar 2111Mar 2212Mar 2315Mar 2412Mar 2515Mar 26
Highest ₹15.10 a share, year to Mar 2026.
Ex-dateTypePer share
12 Jun 2026Final₹8.60
7 Nov 2025Interim₹6.50
4 Jul 2025Final₹7.00
7 Nov 2024Interim₹5.00
5 Jul 2024Final₹7.00
10 Nov 2023Interim₹5.00
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Navin Fluorine International announcements

Navin Fluorine International share price by year

Each calendar year to 2025.Navin Fluorine International share price history

YearClose at year endChangeHighest closeLowest close
20255,920.00+82.4%6,144.003,280.25
20243,245.80−15.8%3,867.852,924.25
20233,853.20−5.3%4,850.203,424.15
20224,069.25−2.8%4,807.303,450.00
20214,188.50+60.3%4,243.952,292.10
20202,612.20+159.4%2,730.55979.75
20191,006.95+44.1%1,030.35577.65
2018698.90−15.8%842.65599.45
2017830.45+64.3%869.45497.96
2016505.33+34.9%563.04257.50
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 26 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
26 Oct 20267,644.507,740.007,510.507,662.007,639.321,90,40370.7%
23 Oct 20267,911.007,934.507,601.007,668.507,733.9399,14251.7%
22 Oct 20268,010.008,018.007,849.007,946.507,927.4387,25549.4%
21 Oct 20268,132.508,180.507,916.008,014.508,013.331,11,00958.7%
19 Oct 20268,167.008,198.008,111.008,152.508,159.3939,47057.4%
16 Oct 20268,274.508,274.508,093.008,167.008,153.9293,80156.3%
15 Oct 20268,520.008,528.508,187.508,247.508,283.821,17,70360.2%
14 Oct 20268,500.008,598.008,416.008,457.008,496.0463,52645.8%
13 Oct 20268,600.008,600.008,330.508,468.008,406.3271,47944.1%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Stock split history

Ex-dateEventPrice factorWhat happened
19 Jul 2017Split0.2000Each share became 5.
7 Jun 2012Price move–A corporate action went ex within three days of this move (Final Dividend Rs.6.50 Per Share And Special Dividend Rs.60 Per Share, ex-date 7 Jun 2012), and its terms do not account for the move. Not adjusted for.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout. Any other event is noted and not adjusted for.

Company details

Chairperson
Vishad Padmanabh Mafatlal
At the end of the quarter to Sep 2026
Managing director
Nitin Ganpati Kulkarni
At the end of the quarter to Sep 2026
NSE symbol
NAVINFLUOR
BSE code
532504
ISIN
INE048G01026
Industry
Chemicals & Petrochemicals
CIN
L24110MH1998PLC115499
Corporate identity number, the registrar of companies' code for it
Incorporated
1998
Registered office
Office No. 602, Natraj by Rustomjee, Near Western Express Highway, Sir Mathuradas Vasanji Road, Andheri (East), Mumbai 400069, Maharashtra
Share registrar
KFin Technologies Ltd
Keeps the register of shareholders and handles transfers and dividend payments