Navin Flourine is having a field day! The top gainer on the BSE at opening bell, the stock which has closed yesterday at Rs.1104.05, opened higher today at Rs.1128, going on to hit a new 52-week high at Rs.1187. And it continues to remain in the green, around Rs.1180 levels.
The market is super thrilled with its performance for Q3FY20 wherein, on a 11% (YoY) rise in consolidated revenue at Rs.260 crore, it posted a 18% increase in net profit at Rs.45 crore.
EBITDA was up by a smart 26% at Rs.65 crore and margins showed a significant improvement from 22.2% to 25.1%.
Earlier this month, the company had commenced commercial production at its Dewas, Madhya Pradesh plant, which is at the core of its CRAMS business.
In December, the board of Navin had approved a capital expenditure programme at Dahej (Gujarat) through a wholly-owned subsidiary at an estimated capital outlay of Rs.450 crore over the next three-four years.