Navin Fluorine International (532504) Q2 26/27 earnings summary

Executive summary

• H1 FY27 reported consolidated revenue was ₹2,286.51 crore and total profit was ₹512.54 crore; operating results showed PAT up 93% YoY to ₹512.5 crore and EPS of ₹100.

• All three business verticals delivered strong Q2 growth, with disciplined execution and capacity expansion supporting the growth outlook.

Financial highlights

• Q2 reported consolidated revenue was ₹1,206.34 crore versus ₹776.63 crore; total profit was ₹269.23 crore versus ₹148.37 crore.

• H1 reported consolidated revenue was ₹2,286.51 crore versus ₹1,515.94 crore; total profit was ₹512.54 crore versus ₹265.53 crore.

• Q2 operating revenue was ₹1,190.7 crore, up 57% YoY; operating EBITDA was ₹407.5 crore, up 66%.

• H1 operating revenue was ₹2,235.8 crore, up 51%; operating EBITDA was ₹764.5 crore, up 69%, and operating PBT was ₹619.2 crore, up 93%.

• Standalone Q2 revenue and PAT were ₹789.83 crore and ₹204.57 crore; H1 revenue and PAT were ₹1,520.35 crore and ₹395.21 crore.

Outlook and guidance

• FY27 EBITDA margin target is to remain around the H1 level; long-term guidance is 30%, with outcomes subject to geopolitical uncertainty.

• FY27 CDMO target of $100 million remains on track; cGMP4 phases I and II have peak annual revenue potential of ₹900–1,000 crore by FY28–FY29.

• HFC expansion equivalent to up to 15,000 MTPA of R32 is on track for commissioning shortly; capex of ₹236.5 crore is to be funded from internal accruals.

• Chemours liquid-cooling project targets completion by end-Q3 FY27, with purchase orders for Q4 delivery; capex is ₹120 crore, 35% customer-funded.

• Advanced Materials capacity capex of ₹90 crore is targeted for completion by Q2 FY28; ambition is 20%–25% growth through 2030, with 10%–15% of expanded business from the vertical.