Navin Fluorine Q2FY23 PAT falls -8.57% at Rs57.81 crore as raw materials costs spike over 33% yoy

24 Oct 2022 , 06:55 PM

Navin Fluorine Ltd reported 23.67% growth in total revenues for the September 2022 quarter on consolidated basis at Rs419.20cr. Revenue growth was 5.45% in sequential terms.

The company is into the manufacture of specialty chemicals and this business has seen demand expand in the aftermath of troubles in China. However, export markets have been tepid amid recession fears.

The company has declared an interim dividend of Rs5 per share. Cash from operations for first half fell sharply on a yoy basis due to working capital.

Consolidated Profit after tax (PAT) for September 2022 quarter was down -8.57% at Rs57.81cr and this was largely on account of a 33% spike in raw material costs amidst supply chain constraints.

With uncertainty, the working capital locked in inventories has also put pressure on the quarterly performance of Navin Fluorine.

PAT margins were lower at 13.79% in the Sep-22 quarter compared to 18.65% in the Sep-21 quarter and also lower than 18.73% in June 2022 quarter. Net profits were higher on a half yearly basis.

Financial highlights for Sep-22 compared yoy and sequentially

	Navin Fluorine
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 419.20	₹ 338.96	23.67%	₹ 397.52	5.45%
Net Profit (Rs cr)	₹ 57.81	₹ 63.23	-8.57%	₹ 74.45	-22.35%
Diluted EPS (Rs)	₹ 11.66	₹ 12.75		₹ 15.01
Net Margins	13.79%	18.65%		18.73%