Navin Fluorine International reports better-than-estimated Q4 nos; What should investors do?
Navin Fluorine International Ltd share price: The specialty chemicals company in the fourth quarter reported a 49 per cent decline in consolidated net profit at Rs 70 crore against Rs 136 crore a year ago.
Navin Fluorine International Ltd share price: Shares of Navin Fluorine International inched higher in Wednesday's (May 8) morning trade, after the company reported better-than-estimated Q4FY24 numbers on Tuesday after market hours.
At around 9:45 a.m., shares of Navin Fluorine International traded 1.21 per cent or Rs 41 higher at Rs 3,416.45 apiece. The market capitalisation of the company at around the same time stood at Rs 16,938.43 crore.
The specialty chemicals company in the fourth quarter reported a 49 per cent decline in consolidated net profit at Rs 70 crore against Rs 136 crore a year ago. Zee Business Research expected the profit after tax (PAT) for Q4FY24 at Rs 50 crore.
Its consolidated revenue for the fourth quarter stood at Rs 602 crore compared to Rs 697 crore year-on-year (YoY). The research desk had estimated the revenue for the quarter that ended March 31, 2024, at Rs 540 crore.
The earnings before interest, tax, depreciation, and amortisation (EBITDA) stood at Rs 110 crore against Rs 202 crore which implies a 45 per cent decline YoY. However, EBITDA was better than estimated at Rs 95 crore.
The margins of the company for the quarter ended March 31 stood at 18.3 per cent against 28.9 per cent YoY.
As per the company's filing, an agro specialty capex–chemical charge has been initiated. Firm orders for dedicated capacity for FY25 are in place.
Further, a capex of Rs 30 crore towards the development of a completely new capability in Surat is on track and is expected to generate revenue from FY25.
What should investors do?
Citi maintained a 'buy' on the stock and raised the target to Rs 3,900 from Rs 3,750 apiece.
Moreover, Jefferies continued with 'hold' and raised the target to Rs 3,070 from Rs 2,950 apiece.
Navin Fluorine International share price: Past performance
In a year, Navin Fluorine International shares have lost over 29 per cent against Nifty50's rise of over 22 per cent.
Catch all the updates of the May 8 session on Dalal Street here. For all other news related to business, politics, tech and auto, visit Zeebiz.com.
DISCLAIMER: The views and investment tips expressed by investment experts on zeebiz.com are their own and not those of the website or its management. zeebiz.com advises users to check with certified experts before taking any investment decisions.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
09:46 AM IST