Navin Fluorine International (532504) Q3 24/25 earnings summary

Executive summary

• Achieved strong revenue and EBITDA growth in Q3 FY25 and 9M FY25, with resilience amid global uncertainties and successful commissioning of the agro-specialty plant at Dahej (INR 540 crore investment).

• Significant margin expansion and operational efficiency improvements year-over-year, supported by disciplined project execution and cost management.

• Continued investments in capacity expansion and new product launches to support future growth.

• Dewas site awarded EcoVadis gold medal for sustainability practices, placing among top 5% globally.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024, were approved and reviewed by the Board and Audit Committee.

Financial highlights

• Q3 FY25 consolidated revenue: INR 606.2 crore, up 21% YoY and 17% QoQ; operating EBITDA: INR 147.3 crore, up 95% YoY; margin at 24.3% (+917 bps YoY).

• Q3 FY25 operating PBT: INR 98 crore, up 195% YoY; Q3 FY25 profit after tax: INR 84 crore; 9M FY25 revenue: INR 1,648 crore, up 13% YoY; 9M FY25 EBITDA: INR 355 crore, up 23% YoY.

• Exceptional gain of INR 52.13 crore in Q3 & 9M FY24 from sale of surplus land.

• Interim dividend of ₹5 per share (250%) paid during the quarter, totaling ₹24.79 crores.

• Standalone Q3 FY25 revenue: INR 439.77 crore; standalone net profit: INR 65.24 crore.

Outlook and guidance

• Strong order visibility for Q4 FY25 and into FY26 across specialty chemicals and CDMO segments; new molecules to be introduced in Q4 FY25 and Q1 FY26.

• CDMO segment targets $100 million revenue by FY27, with 30% from a major European contract.

• No upgrade to margin guidance; aim to exit FY25 at or near 25% EBITDA margin, focusing on sustainability.

• Capacity expansions in HPP and specialty chemicals on track, with new plants and molecules to be commissioned in FY25 and FY26.

• R32 market outlook remains constructive, with expected pricing upside in 2025.