Buy Navin Fluorine International, target price Rs 5090: JM Financial

JM Financial has buy call on Navin Fluorine International Ltd. with a target price of Rs 5090. The current market price of Navin Fluorine International is Rs 4279. Time period given by analyst is one year when Navin Fluorine International Ltd. price can reach defined target.

Navin Fluorine International Ltd., incorporated in the year 1998, is a Mid Cap company (having a market cap of Rs 21397.40 Crore) operating in Chemicals sector.

Navin Fluorine International Ltd. key Products/Revenue Segments include Chemicals, Sale of services, Scrap and Export Incentives for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 408.43 Crore, down -3.06 % from last quarter Total Income of Rs 421.34 Crore and up 21.78 % from last year same quarter Total Income of Rs 335.39 Crore. Company reported net profit after tax of Rs 74.45 Crore in latest quarter.

Investment Rationale
The management continues to be optimistic of strong recovery in CDMO (erstwhile CRAMS) in 2HFY23 owing to a strong pipeline. As a result, we keep our estimates largely unchanged. The brokerage maintains BUY with a revised Sep’23 TP of INR 5,090 (from Mar’23 TP of INR 4,555 earlier as it continues to believe that Navin’s long-term contracts provide long-term earnings visibility

Promoter/FII Holdings
Promoters held 29.7 per cent stake in the company as of 30-Jun-2022, while FIIs owned 23.35 per cent, DIIs 18.86 per cent.