Navin Fluorine bulls expect stock to test ₹8,400 levels after Q4 results; Check upside potential

Shares of Navin Fluorine International Ltd. declined in-line with the market sentiment, on Thursday, April 30, even as brokerages were positive on the stock post its fourth quarter earnings.Jefferies and DAM Capital both have maintained their respective “buy” ratings on the stock and see up to a 24% potential upside. The highest price target on Navin Fluorine is in fact from Jefferies.

Jefferies

Jefferies has a “buy” rating on Navin Fluorine with a price target of ₹8,385 apiece.
It said the company reported a strong quarter with its EBITDA and net profit growing of 19% and 30% respectively, beating the brokerage’s estimates, driven by strength in specialty chemicals and contract development and manufacturing organisation (CDMO) segments.Jefferies wrote in its note that multi-year contracts in CDMO and agrichem, the potential ramp up of data centre cooling products and R32 capacity expansion provide earnings growth visibility between financial year 2027-2029.

As a result, the brokerage has upgraded its profit expectations for financial year 2027-2028 by 5% and 11% respectively, projecting its Earnings Per Share (EPS) to grow at a Compounded Analyst Growth Rate (CAGR) of 24% over financial year 2026-2028.

DAM Capital

The brokerage also maintained its “buy” rating on the stock with a price target of ₹7,769 apiece.
It said the company reported strong performance across the board and this was the sixth consecutive quarter of revenue and profitability growth.

For high performance products (HPP), it reported higher volumes and realisations, while pricing remained constructive.

The brokerage added that anhydrous hydrofluoric acid (AHF) capacity is commissioned. For specialty chemicals, it was a strong quarter. Project Nectar contributed strongly. The segment is set to clock 75-80% utilisation by FY27, it added.

With regards to CDMO, the momentum continues, DAM Capital said. The new GMP-4 plant has been commissioned; and it sees optimal utilization within FY27. The company’s discussions are active with other EU majors, the brokerage said.

The management is confident in maintaining an EBTIDA of 30%+/-2% with net working capital (NWC) days expected to improve to 75-80 days, DAM Capital added.

80% of the 29 analysts who cover Navin Fluorine have a “buy” rating on the stock, two say “hold” and four have a “sell” rating on the stock.

Shares of Navin Fluorine made a 52-week high of ₹7,200 in intraday trade on Thursday, before cooling off over 7% from the highs. The stock is currently trading 0.5% lower at ₹6,725.5.

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