Navin Flourine does well
Navin Flourine has been among the top three gainers on the BSE since the opening bell today morning; opening 0.5% higher at Rs.3810, it rose to an intraday high at Rs.4121, up almost 9%. Its 52-week high stands at Rs.4339.
The markets have given its Q1FY23 earnings a big thumbs up. The company’s consolidated revenue was at Rs.397 crore, up 22% (YoY) and on this, it gave a 34% higher net profit at Rs.97 crore.
EBITDA was at Rs.97 crore, up 24% while margins improved from 23.82% to 24.94%. Higher volumes and better pricing power helped drive this performance.
Revenues from the new plant set up for Honeywell to start from Q2FY23 and the Board approved Debottlenecking capex of Rs. 80 crore for a new molecule in HPP business unit in Surat. Its c-GMP-3 plant capacity expansion work is on track and is to be commissioned in Q3FY23.