Buy Navin Fluorine International, target price Rs 4955: JM Financial

JM Financial has buy call on Navin Fluorine International with a target price of Rs 4955. The current market price of Navin Fluorine International is Rs 4955.

Navin Fluorine International, incorporated in the year 1998, is a Mid Cap company (having a market cap of Rs 21055.52 Crore) operating in Chemicals sector.

Navin Fluorine International key Products/Revenue Segments include Chemicals, Sale of services, Scrap and Export Incentives for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 573.50 Crore, up 33.34 % from last quarter Total Income of Rs 430.10 Crore and up 48.41 % from last year same quarter Total Income of Rs 386.43 Crore. Company has reported net profit after tax of Rs 106.56 Crore in latest quarter.

The company’s top management includes Mr.Vishad P Mafatlal, Mr.Sujal A Shah, Mr.Ashok U Sinha, Mr.Atul K Srivastava, Mrs.Radhika V Haribhakti, Mr.Harish H Engineer, Mr.Sudhir G Mankad, Mr.Sunil S Lalbhai, Mr.Pradip N Kapadia, Ms.Mohan M Nambiar, Mr.Radhesh R Welling, Mr.Apurva S Purohit. Company has Price Waterhouse Chartered Accountants LLP as its auditors. As on 31-12-2022, the company has a total of 5 Crore shares outstanding.

Investment Rationale
Amidst the demand slowdown, contracted players provide high volume off-take visibility. Further, if there is any slowdown in offtake, it can be reversed in subsequent quarters.

Promoter/FII Holdings
Promoters held 29.4 per cent stake in the company as of 31-Dec-2022, while FIIs owned 19.19 per cent, DIIs 20.15 per cent.