Navin Fluorine International (532504) Q2 25/26 earnings summary

Executive summary

• Achieved robust growth in Q2 and H1 FY26, with significant YoY increases in sales, EBITDA, and profitability across all business segments.

• Interim dividend of INR 6.5 per share (325% of face value) declared for FY 2025-26, with record date set for November 7, 2025.

• Major CapEx projects approved: INR 236.5 crore for HFC (R32) capacity and INR 75 crore for MPP debottlenecking, both funded via internal accruals.

• Diversified business model with strong global presence, advanced R&D, and focus on specialty chemicals, HPP, and CDMO verticals.

• Continued investments in capacity expansion and technology, supported by strong order books and long-term partnerships.

Financial highlights

• Q2 FY26 consolidated revenue rose 46% YoY to INR 758.42 crore; H1 revenue at INR 1,484 crore.

• Q2 operating EBITDA grew 129% YoY to INR 246.2 crore; margin improved to 32.5% from 20.7% YoY.

• Q2 PAT more than doubled YoY to INR 148.4 crore; H1 PAT up 141% YoY to INR 265.5 crore.

• Q2 operating PBT at INR 179.3 crore, up 173% YoY; H1 operating PBT at INR 320.5 crore, up 159% YoY.

• Basic EPS (consolidated) for Q2 FY26: INR 29.06; half-year EPS: INR 52.76.

Outlook and guidance

• FY 2026 EBITDA margin guidance raised to 28%-30%, up from earlier 25%, reflecting strong H1 performance.

• CapEx outflow for FY 2026 expected at INR 600-700 crore; INR 1,000 crore frame for next two years.

• HFC capacity expansion and plant debottlenecking to be completed by Q3 FY27, targeting growing domestic and export demand.

• Strong order book and ongoing projects expected to drive growth into FY 2027 and beyond.

• CapEx projects expected to drive future growth, with commissioning targeted by Q3 FY27 and significant revenue potential.