External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Navin Fluorine International / Equity Bottom-Up

<ul><li>We retain our BUY rating on Navin Fluorine International Ltd (NFIL) with a target price of INR 5,471 on the back of (1) earnings visibility, given long-term contracts (2) tilt in sales mix towards better margin products (3) capacity expansion-led growth and (4) strong R&amp;D infrastructure</li><li>The stock is currently trading at 29x FY25E EPS.</li><li>We recently visited Navin Fluorine Advanced Sciences Ltd’s (NFASL, a wholly-owned subsidiary of NFIL) plant which is spread over ~75 acres of land in Dahej, Gujarat.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We retain our BUY rating on Navin Fluorine International Ltd (NFIL) with a target price of INR 5,471 on the back of (1) earnings visibility, given long-term contracts (2) tilt in sales mix towards better margin products (3) capacity expansion-led growth and (4) strong R&amp;D infrastructureThe stock is currently trading at 29x FY25E EPS.We recently visited Navin Fluorine Advanced Sciences Ltd’s (NFASL, a wholly-owned subsidiary of NFIL) plant which is spread over ~75 acres of land in Dahej, Gujarat.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Navin Fluorine International: Well-oiled machine. Maintain BUY

Thematic (Sector/Industry)

<ul><li>Our chemical universe is expected to report a muted sequential growth, owing to subdued demand, courtesy the global recessionary headwinds faced by various end-user industries</li><li>Revenue for our coverage universe is likely to improve by ~6/5% YoY/QoQ.</li><li>EBITDA margin could deteriorate by 188bps YoY and remain flattish sequentially at 21%, owing to the elevated raw material cost and lower absorption of fixed cost.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Our chemical universe is expected to report a muted sequential growth, owing to subdued demand, courtesy the global recessionary headwinds faced by various end-user industriesRevenue for our coverage universe is likely to improve by ~6/5% YoY/QoQ.EBITDA margin could deteriorate by 188bps YoY and remain flattish sequentially at 21%, owing to the elevated raw material cost and lower absorption of fixed cost.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>The Indian chemical industry continues to be an attractive hub of opportunities, even in an environment of global uncertainty</li><li>The uniqueness of the chemical industry is that it requires both the creation of tangible assets and technical manpower</li><li>We believe domestic chemical companies have abundant opportunities to partner in technology</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The Indian chemical industry continues to be an attractive hub of opportunities, even in an environment of global uncertaintyThe uniqueness of the chemical industry is that it requires both the creation of tangible assets and technical manpowerWe believe domestic chemical companies have abundant opportunities to partner in technologyContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Indian Chemical Sector 2.0 - Catalysts for Growth in Place

External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Navin Fluorine International Ltd. (NFIL) top line was up 24% YoY at 419 Cr on account of strong performance in Specialty Chemicals and traditional business.</li><li>EBITDA came in at 94 Cr, up 11.5% YoY (est. 114 Cr), as company suffered operational glitch due to one of supplier, because of which the company had to buy the raw material from spot market and operations were interrupted affecting operational efficiency.</li><li>Effectively PAT came in at 58 Cr which was down 9% YoY (Est 74 Cr). Going ahead, NFIL’s CDMO business is expected to rebound in H2FY23.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Navin Fluorine International Ltd. (NFIL) top line was up 24% YoY at 419 Cr on account of strong performance in Specialty Chemicals and traditional business.EBITDA came in at 94 Cr, up 11.5% YoY (est. 114 Cr), as company suffered operational glitch due to one of supplier, because of which the company had to buy the raw material from spot market and operations were interrupted affecting operational efficiency.Effectively PAT came in at 58 Cr which was down 9% YoY (Est 74 Cr). Going ahead, NFIL’s CDMO business is expected to rebound in H2FY23.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Navin Fluorine International Ltd. - Growth Across All Verticals, Strong Execution

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Navin Fluorine (NFIL) operates one of the largest integrated fluorochemicals complexes in India with a presence in speciality chemicals, CDMO, inorganic fluoride and refrigerant segments.</li><li>The company has two manufacturing facilities in Surat and Dewas while it is setting up a new greenfield capacity in Dahej</li><li>In terms of revenue contribution, speciality chemicals constitute 40% of overall revenues followed by CDMO 25% and the rest from refrigerants (~18%) and inorganic fluoride (~17%) businesses.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Navin Fluorine (NFIL) operates one of the largest integrated fluorochemicals complexes in India with a presence in speciality chemicals, CDMO, inorganic fluoride and refrigerant segments.The company has two manufacturing facilities in Surat and Dewas while it is setting up a new greenfield capacity in DahejIn terms of revenue contribution, speciality chemicals constitute 40% of overall revenues followed by CDMO 25% and the rest from refrigerants (~18%) and inorganic fluoride (~17%) businesses.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Navin Fluorine (NFIL) - Specialty, HPP Drive Growth in H1; CDMO Muted...

India

Navin Fluorine International Limited manufactures fluorochemicals. The Company produces benzotrifuoride derivatives, fluoro benzene derivatives, fluoro toluene derivatives, and aliphatic fluoro compounds.

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Navin Fluorine International (NFIL IN)

Navin Fluorine International: Well-oiled machine. Maintain BUY

We retain our BUY rating on Navin Fluorine International Ltd (NFIL) with a target price of INR 5,471 on the back of (1) earnings visibility, given...

HDFC Securities

Chemicals: Recovery and stability ahead!

Our chemical universe is expected to report a muted sequential growth, owing to subdued demand, courtesy the global recessionary headwinds faced by...

HDFC Securities

Indian Chemical Sector 2.0 - Catalysts for Growth in Place

The Indian chemical industry continues to be an attractive hub of opportunities, even in an environment of global uncertainty

HDFC Securities

Navin Fluorine International Ltd. - Growth Across All Verticals, Strong Execution

Navin Fluorine International Ltd. (NFIL) top line was up 24% YoY at 419 Cr on account of strong performance in Specialty Chemicals and traditional...

Axis Direct

Navin Fluorine (NFIL) - Specialty, HPP Drive Growth in H1; CDMO Muted...

Navin Fluorine (NFIL) operates one of the largest integrated fluorochemicals complexes in India with a presence in speciality chemicals, CDMO,...

ICICI Securities Limited

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