Navin Fluorine Q3FY26: Sales ₹892 Cr (+47% YoY), EBITDA ₹307 Cr (+109% YoY)
Navin Fluorine reported Q3FY26 consolidated sales of ₹892.4 crore (+47% YoY) and Operating EBITDA of ₹307.6 crore (+109% YoY). For 9MFY26, sales were ₹2,376.2 crore (+44% YoY). Key capex includes ₹236.5 crore for HFC capacity (Q3FY27 commissioning) and ₹75 crore for de-bottlenecking MPP capacity (Q3FY27 commissioning).
The substantial year-on-year growth in key financial metrics like sales and EBITDA, coupled with significant margin expansion, indicates a strong positive performance that is likely to have a high impact on investor sentiment and the company's valuation. The ongoing strategic capex also signals future growth.
The company reported strong year-on-year growth in sales, EBITDA, and PBT, along with significant margin expansion. Several key capex projects are underway, indicating future growth potential. The business verticals also showed robust performance.
Navin Fluorine International Limited has announced its financial results for the quarter ended December 31, 2025 (Q3 FY26). The company reported consolidated sales of ₹892.4 crore, marking a significant year-on-year increase of 47% and a quarter-on-quarter growth of 18%. Operating EBITDA surged by 109% year-on-year to ₹307.6 crore, with a notable expansion in EBITDA margin to 34.5%, up from 24.3% in the same period last year and 32.5% in the previous quarter. Operating PBT also saw a substantial jump of 149% year-on-year to ₹243.2 crore. For the nine-month period ended December 31, 2025 (9MFY26), consolidated sales grew by 44% year-on-year to ₹2,376.2 crore, and Operating EBITDA increased by 114% year-on-year to ₹760.5 crore.
The company is undertaking several capital expenditure projects. An additional HFC capacity equivalent to 15,000 MTPA of R32 is expected to be commissioned by Q3FY27, with a Capex of ₹236.5 crore funded by internal accruals, aiming for peak revenue potential of ₹600-825 crore per annum. A de-bottlenecking of MPP capacity at Dahej to support a new molecule launch for a global innovator involves a Capex of ₹75 crore, targeted for commissioning by Q3FY27, with expected annual revenue of ₹140-160 crore. Furthermore, a Capex of ₹120 crore is allocated for expanding the footprint in Advanced Materials products, with 35% funded by a customer, targeted for commissioning by Q1FY27.
The HPP business vertical reported a 35% revenue growth in Q3FY26, driven by higher realisations and volumes. The Specialty Chemicals vertical saw a 60% revenue increase, with a strong product pipeline and new molecule launches. The CDMO business vertical experienced a 61% revenue growth, maintaining momentum with strong order visibility and successful completion of validation for a European CDMO MSA. The company also highlighted its robust R&D capabilities, ESG initiatives, and a strong board composition.
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