Navin Fluorine International (532504) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 revenue rose 39% year-over-year to INR 725.4 crores, with operating EBITDA up 106% to INR 207 crores and net profit up 129% to INR 117 crores; all business divisions reported robust growth and strong order books.

• INR 750 crore was raised via QIP, strengthening the balance sheet and supporting future growth initiatives.

• Unaudited standalone and consolidated financial results for Q1 FY26 were approved and reviewed by the Board and auditors.

• The group operates solely in the chemical business segment, including several domestic and international subsidiaries and a joint venture.

Financial highlights

• Consolidated revenue for Q1 FY26 was ₹739.31 crore, up from ₹712.77 crore in Q4 FY25 and ₹533.94 crore in Q1 FY25.

• Operating EBITDA reached INR 207 crores, a 106% increase, with margins at 28.5% (up 935 bps year-over-year).

• Profit after tax was INR 117 crores, up 129% from INR 51 crores in Q1 FY25.

• Operating cash flows for Q1 FY26 were INR 231 crores; net debt to equity stood at 0.34x pre-fundraise.

• Consolidated basic EPS for Q1 FY26 was ₹23.63, up from ₹10.33 in Q1 FY25.

Outlook and guidance

• Management remains optimistic about sustained momentum, with a solid order book and ongoing project ramp-ups.

• Margin guidance remains at 25%+, with current margins at 28.5%; management will revisit guidance after a few more quarters.

• CapEx framework expanded to INR 700–1,000 crores over the next two years, focused on strategic projects and maintaining strong financial ratios.

• AHF capex of Rs. 450 Cr at Dahej expected to commission by end Q2 FY26; supplies for three new specialty molecules to start in Q2 FY26.

• CDMO business expects major commercial orders from US and EU in FY26.