Navin Flourine shoots through the roof

Navin Florine is literally shooting through the roof today. The stock breached the upper circuit at Rs.784.40, a new 52-week high and is now 15.5% high at Rs.754 levels. Volumes are up by a jaw dropping 21 times.

The stock is reacting to the exuberant numbers it posted for Q3FY15. On a 32% (YoY) rise in net sales at Rs.145 crore, the company’s net profit doubled up to Rs.14 crore from Rs.7 crore in previous Q3. The rise in sales and interest costs coming down from Rs.17 lakh from Rs.1.4 crore helped the company post this doubled up net profit.

This Gujarat based Arvind Mafatlal group company was recognized as one of the largest players in carbon credits. But with that business now over, the company now earns from its mainfray - refrigeration gases, Chemicals/ Bulk Fluorides and Specialty Organofluorines with manufacturing facilities at Surat, Gujarat and Dewas, Madhya Pradesh.