Focus is on ensuring double the business every 3-4 years: Navin Fluorine

In this latest episode of ‘Inside Out – On the Road’, the focus is on individual stocks, with in-depth analysis, deep dive into financials, and the key risk and triggers going forward. CNBC-TV18’s Sonal Bhutra travelled to Dahej at the manufacturing facility of Navin Fluorine to get insights on their business and how things are shaping up on the ground.

Navin fluorine, is one of the largest domestic manufacturer of fluorochemicals in the country and has three segments CDMO which is around 20 percent revenues, there is high-performance products and there is also speciality chemicals.

Talking about what the financial performance of the company, they did revenues of close to Rs 1400 crore in FY22 and in terms of margins from the levels of 22 percent they have been able to scale them up between 24-25 percent in last couple of years. Their profits after falling from levels of Rs 400 crore in FY21 have stabilized around the Rs 260 crore mark.

Speaking to CNBC-TV18, Radhesh Welling, MD of Navin Fluorine said that they are expecting revenue of Rs 2,000 crore in FY23 and they are focusing on doubling the business every 4 years plus/minus.

He said, “Last year we did Rs 1,400 crore, this year with the way that things are going we believe we should be close to Rs 2000 crore or might just exceed 2000 crore. Our focus is to ensure that we double the business every four years plus minus, our internal hope would be that every three to four years, we actually double the business.”

In the ‘Swotlight’ segment, CNBC-TV18’s Nigel D'Souza talks about Piramal Pharma. The company was listed in October 2022, and it's a de-merged pharma arm of Parimal Enterprises. The key reason for the merger was a simplification of the corporate structure. But since listing the stock has pulled back close to around 30 percent.