Navin Fluorine reports strong Q2, first-half growth; approves dividend, capex

Navin Fluorine International Limited reported a strong Q2 FY '26 with revenues climbing 46% year-on-year to INR758 crores. Operating EBITDA surged by 129% year-on-year to INR246 crores, with the margin improving to 32.5% from 20.7% in Q2 FY '25. Profit after tax more than doubled to INR148 crores. For the first half of FY '26, revenues increased 42% to INR1,484 crores, and profit after tax grew 141% to INR266 crores. The company's net debt-to-equity ratio stood at 0.9x as of September 30, 2025.

The Board of Directors approved an interim dividend of INR6.5 per share on a face value of INR2 per share. Strategic capital expenditures were also sanctioned, including INR236.5 crores for additional HFC capacity (up to 15,000 metric tonnes per annum of R32), expected to generate annual revenue of INR600 crores to INR825 crores upon completion in Q3 FY '27.

Additionally, INR75 crores was approved for debottlenecking MPP capacity at Dahej, targeting INR140 crores to INR160 crores in annual revenue upon completion in Q3 FY '27. All three business divisions, HPP, Specialty, and CDMO, reported good growth in Q2 FY '26, with HPP revenues crossing INR400 crores and CDMO revenues growing 98% year-on-year to INR134 crores.