Navin Fluorine International (532504) Q4 24/25 earnings summary

Executive summary

• Achieved record annual consolidated revenue of ₹2,393.11 crores and quarterly revenue of ₹701 crores in Q4 FY25, with EBITDA margin at 25.5%.

• Strategic agreements signed with Chemours for Opteon (advanced cooling fluids) and Buss ChemTech AG for solar/electronic-grade HF, expanding into advanced materials and high-purity chemicals.

• R-32 project commercialized in March 2025, operating at optimal capacity, with strong demand and pricing traction in HPP and R32 segments.

• Board recommended a final dividend of ₹7 per share (350% of face value) for FY 2024-25, subject to shareholder approval.

• Board approved fund raising up to ₹750 crores via equity or debt instruments, supporting future growth and expansion.

Financial highlights

• FY25 consolidated revenue at ₹2,393.11 crores, up from ₹2,120.86 crores YoY; operating EBITDA at ₹534 crores, up 34% YoY; EBITDA margin at 22.7%.

• Q4 FY25 revenue grew 16% YoY to ₹701 crores; operating EBITDA up 62% YoY to ₹179 crores; EBITDA margin at 25.5%.

• FY25 profit after tax at ₹288.58 crores (vs. ₹270.50 crores in FY24); net debt-to-equity at 0.37.

• Net cash from operating activities in FY25 was ₹570.8 crores.

• Dividend payout included interim dividend of ₹5 per share and proposed final dividend of ₹7 per share.

Outlook and guidance

• Margin guidance maintained at 25% for FY26, with a range of 23%-27% depending on market conditions.

• CDMO business aspires to reach $100 million revenue by FY27, with gradual growth expected.

• Ongoing CapEx projects (HF plant, cGMP-4) progressing as planned, with expected commissioning in FY26.

• CapEx budget for FY26 is ₹500-600 crores, supported by a strong balance sheet.

• Board approved fund raising to support future growth and expansion, with flexibility in instruments and tranches.