with a market valuation of 21,921.06 crore, Naveen Fluorine International Limited is a large-cap company engaged in the chemical industry. Naveen Fluorine International Limited (NFIL) is one of the largest and most reputed Indian manufacturers of specialty fluorochemicals. With production facilities at Surat and Dahej in western India, as well as Dewas in central India, the firm operates one of the largest integrated fluorochemical systems in the country. Refrigeration, Inorganic Fluoride, Specialty Fluoro Intermediates, and the Contract Development and Manufacturing Organization (CDMO) are among the company’s business divisions. The company has declared an interim dividend of 250% along with its Q2FY23 results.
The company in a stock exchange filing said that “The Board of Directors in its meeting held today, has declared an interim dividend of 5/- (Rupees five only) per equity share of the face value 2/- for each financial year 2022-2023. In accordance with Regulation 42 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, Friday, the 4th November, 2022, has been fixed as the record date to ensure the eligibility of members for payment of the above interim dividend.”
While considering the payment of dividend, the company has stated that “the record date has been fixed to ensure the eligibility of the members for payment of interim dividend. 5/- per equity share (250% of the face value) for the financial year 2022-2023, as announced by the Board in its meeting held today i.e. 19th October, 2022. The interim dividend will be paid on or after Thursday, November 17. , 2022.”
On a consolidated basis, the company reported net revenue from operations of Compared to 419.2 in Q2FY23 339.0 crore in Q2FY22 represents a year-on-year growth of 24% and net sales grew by 5% QoQ 397.5 crores as of Q1 FY23. The company registered EBITDA growth of 11% YoY Q2FY22 to . 84.2 crore in 938 crore in Q2FY23 but it has fallen by -5% QoQ 99.1 crores as of Q1 FY23. Company reported profit before tax (PBT) 83.1 crore in Q2FY23 as compared to 82.4 crore in Q2FY22. However, the company reported a decline of -9% YoY in net profit from Q2FY22 to . 63.2 crore in 57.8 crores in Q2FY23 as well as net profit has fallen by -22% QoQ 74.5 crore was recorded in Q1 FY23.
On a standalone basis, the company reported net revenue from operations of 366.4 crores in Q2FY23 as compared to 324.4 crore in Q2FY22 represents a year-on-year growth of 13%, but sales have fallen by -5% QoQ 386.8 crores as of Q1 FY23. The company registered EBITDA growth of 8% YoY from Q2FY22 to . 83.6 crore in 90.0 cr in Q2FY23 but the same has fallen by -10% QoQ 99.9 crore as of Q1 FY23, while the company declared Profit Before Tax (PBT) 86.3 crore in the quarter ended September 2022 80.8 crore was recorded in the same quarter last year. The company registered 3% year-on-year growth in net profit from Q2FY22 to . 62.1 crore in 64.1 crore in Q2FY23, though net profit has fallen by -19% QoQ 79.0 crores recorded in Q1 FY23.
Naveen Fluorine International Limited in its Investor Presentation Report stated that in H1FY23 it has implemented new organizational structure – 3 business units headed by 3 operating CEOs with full P&L responsibilities, NFASL has started commercialization of Hydrofluoroolefins after successful supply of commercial trials. has commenced production and the specialty business continues to register strong revenue growth; Highest ever quarterly sales were recorded in Q2FY23.
Shares of Naveen Fluorine International Limited closed on Friday 4,431.00 each, up 0.28% from the previous close 4,418.75. In its previous trading session, the stock recorded a total volume of 329,581 shares as compared to the 20-day average volume of 224,123 shares. The stock has given a multibagger return of 503.31% in the last five years and a multibagger return of 474.14% during the last three years. The stock has appreciated 30.76% over the past year, and has climbed 4.93% year over year (YTD) in 2022. For the quarter ended September or Q2FY23, the company reported promoter shareholding of 29.40%, FII holding of 20.07%, DII holding of 22.67% and public holding of 27.86%.
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