Navin Fluorine International (532504) Q4 25/26 earnings summary

Executive summary

• Achieved six consecutive quarters of revenue and profitability growth, with FY26 consolidated sales reaching ₹3,379.19 crore, up 41% year-over-year, and operating EBITDA of ₹1,081.7 crore, up 103% year-over-year.

• Declared a final dividend of ₹8.60 per share (430% of face value), following an interim dividend of ₹6.50 per share, reflecting strong performance and confidence in future growth.

• All business segments—HPP, Specialty Chemicals, and CDMO—delivered strong revenue growth, with CDMO leading at 61% YoY in Q4.

• Board approved re-appointments of key directors and set record date for dividend eligibility as June 12, 2026.

Financial highlights

• Q4 FY26 consolidated revenue grew 34% year-on-year to ₹937.7 crore; full-year revenue up 41% to ₹3,379.19 crore.

• Q4 operating EBITDA rose 80% year-on-year to ₹321.2 crore (margin 34.2%); full-year EBITDA more than doubled to ₹1,081.7 crore (margin 32.6%, up 992 bps).

• Q4 profit after tax increased 124% year-on-year to ₹212.6 crore; full-year PAT reached ₹663.55 crore, up from ₹288.58 crore.

• Net working capital days improved to 74 from 90; guidance for 75-80 days going forward.

• Exceptional item gain of ₹13.72 crore in Q4 FY26 due to Labour Code provision reversal.

Outlook and guidance

• Commissioning and ramp-up of additional HFC capacities (32 MPP) and the KMOS project expected to drive revenue in FY27.

• Capex projects underway in HFC, MPP, and Advanced Materials, with total planned investments exceeding ₹430 crore, funded mainly by internal accruals.

• Specialty Chemicals and CDMO segments have strong order visibility and robust pipelines for FY27.

• Margin guidance maintained at 30% for FY27, with expected fluctuations of ±1-2%.

• Employee costs expected to normalize at 7.5-9% of sales.