Navin Fluorine International Limited Q4 Results: PAT down by 48%

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Synopsis:

Navin Fluorine International Limited disclosed its Q4 results, revealing a 48% YoY drop in consolidated net profit to ₹70.4 crore. The Board recommended a final dividend of ₹7 per equity share for FY 2023-24. EBITDA margin declined to 18.3%, and revenue decreased to ₹602 crores. The Board proposed a final dividend of ₹7 per share, totalling ₹34.70 crores, for FY 2023-24. The company initiated an agro-specialty capex and a ₹30 crore capex for new capabilities in Surat.

DATA Points:

  1. Sales for FY24: ₹2,065 crores; Down by 0.6% YoY

  2. Operating EBITDA FY24: ₹398.3 crores; down by 28% YoY

  3. Profit After Tax for Q4 FY24: ₹70.4 crores; Down by 10% QoQ

  4. Net Revenue from Operations for Q4 FY24: ₹602; Up by 20% QoQ

Explore: Navin Fluorine Int Share Price

Navin Fluorine International Limited Q4 Result: 5 Key Financial Highlights

Navin Fluorine International Limited Q4 results were declared by the company's Board of Directors during its meeting on May 7, 2024. The results for the quarter and year ending March 31, 2024, underwent review by the Audit Committee and received approval from the board. Here are the key highlights:

  1. Navin Fluorine International Ltd announced a 48% year-on-year (YoY) decrease in consolidated net profit to ₹70.4 crore for the fourth quarter of the financial year 2023-24.

  2. The Board of Directors has proposed a final dividend of ₹7 per equity share with a face value of ₹2 each (equivalent to 350% of the face value) aggregating to ₹34.70 crores, for the financial year 2023-2024.

  3. The EBITDA margin was recorded at 18.3%, marking a decrease from 28.9% in the corresponding period of the previous financial year.

  4. Revenue from operations dipped 14% to ₹602 crores, the company said in an exchange filing. In the previous corresponding quarter, the company posted a revenue from operations of ₹697 crore.

Additional ReadQuarterly Results

Navin Fluorine International Limited Q4 Result: Profitability Analysis

  • In the fourth quarter, the specialty chemicals company witnessed a 48% decrease in consolidated net profit, amounting to ₹70.4 crores as compared to ₹136.4 crores recorded in the previous year.

  • The tax expense for the quarter and year ending March 31, 2024, incorporates the reversal of excess provision for tax from earlier years, totalling ₹16.97 crores and ₹26.09 crores, respectively.

  • The earnings before interest, tax, depreciation, and amortization (EBITDA) amounted to ₹110.1 crore, marking a 45% decline year-on-year (YoY) from ₹201.8 crore. Despite this decrease, the actual EBITDA of ₹110.1 crore indicated a better-than-expected performance.

 

Navin Fluorine International Limited Q4 Result: Specialty Chemicals

As one of the most respected Global Players in specialty fluorochemicals, Navin Fluorine International presented its business verticles. Here are the highlights: 

  • According to the company's filing, an agro-specialty capex-chemical charge has been initiated. Firm orders for dedicated capacity for FY25 have been secured.

  • Additionally, a capex of ₹30 crores for the development of a completely new capability in Surat is progressing as planned and is anticipated to commence revenue generation from FY25.

  • The rise in sales can be attributed to the full-quarter capacity availability at Dahej, increased utilisation levels at Surat, and the incorporation of new molecules into the product portfolio.

Additional ReadTata Power Q4 Results

Navin Fluorine International Limited Q4 Result: Dividend

The company board of directors proposed a final dividend of ₹7 per equity share with a face value of ₹2 each (350% of the face value) for the financial year 2023-2024, subject to the approval of the company's members. The record date for determining eligibility for the payment of the final dividend is July 5, 2024. Upon declaration, the final dividend will be disbursed on or after Wednesday, August 7, 2024.

Additional ReadHero MotoCorp Q4 Results

Navin Fluorine International Limited Q4 Result: Financial Metrics ( ₹ in crores)

Metrics

Q4 FY 24

Q4 FY 23

YoY

FY24

FY23

YoY

Net Revenue from Operations

602.0

697.1

-14%

2,065.0 

2,077.4

-1%

Operating EBITDA

110.1

201.8

-45%

398.3 

550.3

-28%

Profit before tax 

79.4 

184.2

-

335.5 

495.9

-

Profit After Tax

70.4 

136.4

-48% 

270.5 

375.2

-28%

Additional Read: Bharat Forge Q4 Results

Conclusion

Navin Fluorine International Ltd (NFIL) stands as a premier Indian producer of specialty fluorochemicals. Well-known for its esteemed stature in the industry. NFIL has maintained its legacy since its establishment in 1967. As part of the Padmanabh Mafatlal Group, one of India's enduring industrial conglomerates, NFIL has four main strategic business units:

  • Refrigeration Gases

  • Inorganic Fluorides

  • Speciality Fluorides

  • Contract Development and Manufacturing Organisation (CDMO).

Operating from strategically located manufacturing facilities in Surat and Dahej in Western India, as well as Dewas in Central India, NFIL boasts one of the country's largest integrated fluorochemicals complexes. Complementing its manufacturing prowess is the Navin Research Innovation Center (NRIC), situated in Surat, India, dedicated to advancing research and development endeavours.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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Frequently Asked Questions

What were the key highlights of Navin Fluorine International Limited Q4 results?

Answer Field

Navin Fluorine International Ltd reported a 48% YoY decrease in consolidated net profit to ₹70.4 crore for Q4 FY 2023-24. The EBITDA margin was 18.3%, down from 28.9% in the previous year. Revenue from operations dipped 14% to ₹602 crores.

What could be the probable reasons for the 48% YoY decrease in consolidated net profit in Q4 FY 2023-24?

Answer Field

The decrease in net profit can be attributed to various factors such as a decline in revenue, higher tax expenses, and lower EBITDA margin compared to the previous year.

Has Navin Fluorine International declared a dividend?

Answer Field

Has Navin Fluorine International declared a dividend?

What factors contributed to the rise in sales for Navin Fluorine International Limited in Q4 FY 2023-24?

Answer Field

Sales increased due to full-quarter capacity availability at Dahej, higher utilisation levels at Surat, and adding new molecules into the product portfolio. Additionally, firm orders for dedicated capacity for FY25 and ongoing capex initiatives are expected to further contribute to revenue growth from FY25 onwards.

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