Navin Fluorine International Ltd

ESG rating action

• Crisil ESG rating: 62 and Core ESG rating: 66.
• Assessment independently prepared from publicly available data; no engagement by NFIL.

Rating agency

• Agency: Crisil ESG Ratings & Analytics Limited.

Assessment context

• Company has not engaged the agency for ESG rating.
• Report prepared using public-domain data.

Reference

• Rating link: http://www.crisilesg.com/

Meeting Details

• Date and time: August 20, 2026 at 10:00 AM IST.
• Type and mode: group meeting; mode not specified.
• Event: Analyst/Institutional Investor Meet; organizer: Navin Fluorine International Limited.

Participants

• Company participants: officials; key role: Associate Director – Secretarial and Legal.
• Group meeting with Analysts as part of investor interaction.

Purpose

• Purpose: general investor interaction; discussions based on publicly available information.
• Presentation to be presented at the meeting.

Additional Notes

• Presentation enclosed; intimation also posted on the company website.

Rating Action Details

• Navin Fluorine International Limited: Long-term bank facilities upgraded from CARE AA; Stable to CARE AA+; Stable.
• Navin Fluorine Advanced Sciences Limited (credit enhanced): Long-term facilities upgraded to CARE AA+; from CARE AA (CE); Stable.
• Navin Fluorine Advanced Sciences Limited (unsupported): Long-term facilities upgraded from CARE AA- to CARE AA; Stable.
• Rating Agency: CARE Ratings Limited.
• Outlook: Stable.

Rating action details

• Navin Fluorine International Limited – Long-term bank facilities upgraded to CARE AA+; Stable outlook.
• Navin Fluorine Advanced Sciences Limited – Long-term bank facilities (credit enhanced) upgraded to CARE AA+ (CE); Stable.
• Navin Fluorine Advanced Sciences Limited – Long-term bank facilities (unsupported) upgraded to CARE AA.

Financial Performance

• Consolidated Q1 FY27 revenue: INR 1,045 crores, up 44% YoY.
• EBITDA: INR 357 crores; margin 34.2%.
• PBT: INR 283 crores; PAT: INR 243 crores; up 101% and 108% YoY.
• Operating cash flow: INR 173 crores; company net debt-free in the quarter.
• Net working capital days: 81.
• HPP, Specialty Chemicals, CDMO revenues: INR 540 cr, 325 cr, 180 cr; YoY gains.

Business Segments

• HPP revenue INR 540 crores; up 33% YoY.
• Specialty chemicals revenue INR 325 crores; up 48% YoY.
• CDMO revenue INR 180 crores; up 82% YoY.
• Portfolio: 30-40 molecules; 10 in late-stage; 3-4 FDA readouts in 8-12 months.

Capex and Projects

• Adoption capex INR 90 crores for advanced materials; first phase due mid last quarter this year.
• Chemours project: completion targeted by end of Q2 FY27.
• CDMO Phase 2 (cGMP4) capex INR 125 crores; operational by Q4 FY27.
• Phase 2 cGMP4 capex: INR 288 crores approved Feb 2024; Phase 1 operational in Q3 FY26.
• HFC capacity expansion: up to 15,000 MT of R32; commissioning in Q3 FY27.
• MPP debottlenecking at Dahej; expected completion by Q3 FY27.
• Renewable energy project: INR 15.73 crores; 14.9 MW; >60% energy from renewables.

Strategic Partnerships and Capabilities

• DRDO collaboration on indigenous specialty material; part of advanced materials and Atmanirbhar Bharat.
• European CDMO partnership expanding footprint; capacity aligned with European partner; API minus 1 discussed.
• MSA for additional molecule in same supply chain; broader molecule pipeline being pursued.

Outlook and Guidance

• Management remains optimistic about growth across all verticals; pipeline and healthy balance sheet.
• Capex disciplined; internal accrual funding; EBITDA margin target around 32-33% +/-1%.

Q&A Highlights

• First phase of adoption capex expected to enable commercial qualification around the last quarter of this year.
• R32 capacity expansion adds 15,000 tons; long-term demand remains constructive; 35-45% of capacity contracted over five years.
• CDMO pipeline includes 30-40 molecules; 3-4 FDA readouts anticipated in 8-12 months.
• Phase 2 cGMP4 capex and associated timelines clarified; emphasis on product versus service mix.

AGM Details

• AGM held on 6 August 2026 at 3:30 PM IST via VC/OAVM.
• Record date for shareholder eligibility: 30 July 2026.
• Total shareholders on record: 145,242.

Key Resolutions

• Adoption of audited standalone and consolidated financial statements for year ended 31 March 2026.
• Declaration of final dividend of ₹8.60 per equity share.
• Re-appointment of Sudhir R. Deo as Director.
• Re-appointment of Vishad P. Mafatlal as Executive Chairman for five years.
• Re-appointment of Sujal A. Shah as Independent Director for five years.
• Re-appointment of Apurva S. Purohit as Independent Director for five years.
• Ratification of remuneration of Cost Auditors for 2026-27.

Voting Results

• Resolution 1 passed; 99.9996% in favour, 0.0004% against.
• Resolution 2 passed; 99.9996% in favour, 0.0004% against.
• Resolution 3 passed; 97.7660% in favour, 2.2340% against.
• Resolution 4 passed; 93.4200% in favour, 6.5800% against.
• Resolution 5 passed; 97.4161% in favour, 2.5839% against.
• Resolution 6 passed; 92.9544% in favour, 7.0456% against.
• Resolution 7 passed; 99.9996% in favour, 0.0004% against.

Dividend

• Dividend of ₹8.60 per equity share approved.

Director Changes

• Sudhir R. Deo re-appointed as Director after retirement by rotation.
• Vishad P. Mafatlal re-appointed as Executive Chairman for five-year term.
• Sujal A. Shah re-appointed as Independent Director for five-year term.
• Apurva S. Purohit re-appointed as Independent Director for five-year term.

Auditor Appointments

• Statutory auditors re-appointed for financial year 2025-26.
• Cost Auditors remuneration for 2026-27 ratified.

Material Related Party Transactions

• No material related party transactions approved; promoter group not interested.

Other Material Approvals

• No ESOPs or charter amendments disclosed; no other material approvals.

AGM details

• AGM held Aug 06, 2026 at 03:30 PM IST via video conferencing.
• Meeting concluded at 04:46 PM; e-voting open until 05:01 PM IST.

Key resolutions

• Resolution 1: Adopt standalone and consolidated financial statements; ordinary.
• Resolution 2: Declare final dividend; ordinary.
• Resolution 3: Re-appoint Sudhir R. Deo on rotation; ordinary.
• Resolution 4: Re-appoint Vishad P. Mafatlal as Executive Chairman; special.
• Resolution 5: Re-appoint Sujal A. Shah as Independent Director; special.
• Resolution 6: Re-appoint Apurva S. Purohit as Independent Director; special.
• Resolution 7: Ratify remuneration of Cost Auditors for FY 2026-27; ordinary.

Dividend

• Final dividend of ₹8.60 per equity share approved.

Directors & auditors

• Executive Chairman re-appointed; Independent Directors re-appointed.
• Cost Auditors remuneration ratified for FY 2026-27.

DRDO collaboration

• Agreement with DRDO signed for indigenous manufacturing of sodium borohydride in bulk.
• Project under Technology Development Fund scheme to accelerate defence material development.
• DRDO will provide grant-in-aid and technical support to Navin Fluorine.
• Communication released by DRDO on July 30, 2026.
• Intends to strengthen Make in India and defence R&D ecosystem.
• Intimation also posted on Navin Fluorine's website.
• No monetary amounts disclosed in filing.