Navin Fluorine International (NFIL IN) – Q4FY26 Result Update – Robust order pipeline to drive future growth – ACCUMULATE
Published on 30 Apr 2026
Navin Fluorine International Ltd (NFIL) reported its highest-ever quarterly revenue of Rs9.4bn, reflecting robust growth of 33.8% YoY and 1% QoQ. This strong performance was driven by healthy momentum across all three business segments. The High-Performance Products (HPP) segment recorded a 20% YoY growth, supported by strong demand, improved realizations, and higher volumes. Additionally, commercial supplies of AHF commenced during Q4FY26, providing further growth opportunities. The Specialty Chemicals segment delivered a robust 39% YoY increase, with a strong product pipeline and solid order visibility already secured for FY27. The CDMO segment witnessed a strong performance, registering 61% YoY growth with 98% of its revenue was export-driven, aided by the commencement of commercial supplies from Phase 1 of cGMP4. With a healthy order book extending over the next three years, management has reiterated confidence in sustained growth momentum for this segment. We remain positive on NFIL’s long-term outlook, supported by a strong order pipeline, ongoing capacity expansion, and debottlenecking initiatives that are expected to sustain growth. At present, the stock trades at 35x FY28E EPS. We value the company at 38x FY28E EPS, arriving at a target price of Rs7,297, and maintain our ‘Accumulate’ rating on the stock.
