Navin Fluorine International: Prabhudas Lilladher Recommends Accumulate, Target Rs 7038

• Navin Fluorine International (NFIL) reported strong quarterly revenue of Rs 8.9bn, up 47.2% YoY and 17.7% QoQ.
• Growth was driven by robust performance across all three business segments: High-Performance Products (HPP), Specialty Chemicals, and CDMO.
• HPP segment grew 35% YoY with R32 plants at full capacity; Specialty Chemicals saw 60% YoY increase from a new fluoro-specialty plant.
• CDMO segment delivered 61% YoY growth, with 94% revenue from exports and a healthy order book extending beyond CY26.
• Prabhudas Lilladher maintains an 'Accumulate' rating with a target price of Rs 7,038, valuing the company at 41x Dec’27E EPS.