Naveen Fluorine International is a Large Cap commodity chemical company registered market cap of 22,617.47 crore during Friday’s concluding session. Naveen Fluorine International Limited (NFIL) is a leading and renowned Indian manufacturer of specialty fluorochemicals. It is one of the pioneers in India in the production of refrigerant gases. In order to determine the eligibility of shareholders for the purpose of 350% dividend, the company has declared a record date.
The Board of Directors has recommended a final dividend of ” 7/- (INR Seven only) per Equity Share for the financial year 2022-2023 and Friday, July 07, 2023 has been prescribed as the record date in accordance with Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 to ascertain the eligibility of the members. The payment of the said final dividend, if declared by the members of the company at the ensuing 25th Annual General Meeting,” said Navin Florin in a stock exchange filing.
According to the company, the recommended final dividend will be declared on or after Friday, August 04, 2023.
In Q4FY23, Naveen Fluorine International reports consolidated sales 697.1 crores, which stood 408.94 crore in the corresponding period in the previous financial year, representing a gain of 70% YoY. Its Operating EBITDA during Q4FY23 was 201.8 crores an increase of 114% 94.3 Cr in Q4FY22 and its EBITDA margin increased from 23.0% to 28.9%. Naveen Fluorine International’s net profit during the quarter under review reached 81% increase from 136.4 crores 75.2 crore in the corresponding quarter of FY22.
In the financial year ending March 2023, the company recorded consolidated revenue from operations of 2,077.4 crores an increase of 43% 1453.4 crore during the financial year ending 2022. Its EBITDA grew 55% year-on-year 354.9 cr in FY22 550.3 crore in FY23. The company said that its net profit during 12MFY23 was 43% increase from 375.2 crores 263.1 crore in 12MFY22.
Shares of Naveen Fluorine International on NSE on Friday Down 1.82% from the previous close of 4,535.60 4,619.90. The stock touched a 52-week high at 4,950.00 (15-May-2023) and 52-week low at 3,432.85 (26-May-2022). During Q4FY23, the company reported promoters holding at 28.80%, FIIs holding at 19.58%, DIIs at 24.84% and public at 26.78%. According to the shareholding pattern of Naveen Fluorine International for the January to March 2023 quarter, insurance major LIC held 6,94,859 fully paid-up equity shares or 1.40% stake in the company.
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