Navin Fluorine International shares surged approximately 6.5% in early trading on Thursday, reaching a 52-week high. This increase was driven by strong quarterly earnings and positive growth prospects. The stock peaked at ₹7,200 and was trading at ₹6,752.50 around 10:40 AM on the NSE, following a previous close of ₹6,758.50.
For the quarter ending March 2026, the company reported a 76.2% year-on-year rise in standalone net profit, totaling ₹135.03 crore, up from ₹76.61 crore in the same period the previous year. Revenue from operations also saw a 29% year-on-year increase, amounting to ₹626.51 crore, driven by robust performance across key sectors.
On a full-year basis, profit after tax more than doubled to ₹487.67 crore in FY26, compared to ₹241.93 crore in the prior year. The board proposed a final dividend of ₹8.60 per share.
Despite these strong results, analysts remain divided on the stock’s outlook. Jefferies maintained a ‘buy’ recommendation with a target price of ₹8,385, noting that both EBITDA and profit after tax exceeded their estimates by 19% and 30%, respectively. This growth is attributed to the strength in specialty chemicals and the Contract Development and Manufacturing Organization (CDMO) segments. The brokerage highlighted the importance of multi-year contracts, capacity expansions in key products, and a strong balance sheet as contributors to earnings growth visibility for FY27–FY28, forecasting a 24% earnings per share CAGR for FY26–FY28.
Conversely, Citi rated the stock as a ‘sell’ with a target price of ₹6,500, citing that while EBITDA saw an 80% year-on-year rise and margins remained robust at 34.2%, a substantial portion of the growth outlook may already be reflected in the current stock price after a significant rally over the past year. They also raised concerns about potential downward risks to refrigerant pricing amid capacity increases, which could affect future profitability.
DAM Capital maintained a ‘buy’ recommendation with a target price of ₹7,769, emphasizing broad-based strength from six consecutive quarters of revenue and profitability growth. The brokerage noted strong momentum in specialty chemicals and CDMO sectors, alongside improving utilization levels in new projects, with management expressing confidence in sustaining EBITDA margins around 30%.
Domestically, Elara Capital reiterated a ‘buy’ with a revised target price of ₹8,681, pointing to enhanced earnings visibility and a shift into a multi-year compounding phase. The firm anticipates robust growth due to CDMO ramp-up, successful execution of key projects, and favorable industry conditions, while maintaining a strong earnings growth outlook for the medium term.
Published on April 30, 2026.
