Gujarat Fluorochemicals: Prabhudas Lilladher Recommends 'Hold' with Rs 3434 Target

• Gujarat Fluorochemicals (FLUOROCH) reported a 1% YoY revenue decline to Rs 11.4bn, impacted by holiday season and US tariffs.
• Fluoropolymers segment grew 14% YoY despite QoQ decline; strong growth expected post-US tariff resolution.
• Fluorochemicals segment declined 33% YoY due to lower R22 sales (quota reductions) and R125 (US tariffs); R32 plant commenced operations.
• Bulk Chemicals saw a 7% YoY decline; Battery Chemicals began contributing, with FY27-28 expected as growth years.
• Prabhudas Lilladher maintains a 'Hold' rating with a target price of Rs 3,434, valuing the stock at 45x Dec’27E EPS.