NSEI:NAVINFLUOR

Stock Analysis Report

Navin Fluorine International

Executive Summary

Navin Fluorine International Limited manufactures and sells specialty fluorochemicals in India and internationally.

Rewards

Earnings are forecast to grow 18.84% per year

Earnings have grown 16.4% per year over the past 5 years

Risk Analysis

High level of non-cash earnings

Unstable dividend track record

Highly volatile share price over past 3 months



Snowflake Analysis

Flawless balance sheet average dividend payer.


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Vinati Organics

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Share Price & News

How has Navin Fluorine International's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: NAVINFLUOR's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

12.9%

NAVINFLUOR

-0.9%

IN Chemicals

-1.5%

IN Market


1 Year Return

113.2%

NAVINFLUOR

26.7%

IN Chemicals

10.7%

IN Market

Return vs Industry: NAVINFLUOR exceeded the Indian Chemicals industry which returned 27.2% over the past year.

Return vs Market: NAVINFLUOR exceeded the Indian Market which returned 11.1% over the past year.


Shareholder returns

NAVINFLUORIndustryMarket
7 Day12.9%-0.9%-1.5%
30 Day18.8%1.9%-2.7%
90 Day38.9%10.5%1.3%
1 Year115.3%113.2%29.6%26.7%12.7%10.7%
3 Year152.3%143.7%53.9%47.7%22.0%15.1%
5 Year871.1%812.0%119.7%104.1%34.5%22.0%

Price Volatility Vs. Market

How volatile is Navin Fluorine International's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Navin Fluorine International undervalued compared to its fair value and its price relative to the market?

36.98x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: NAVINFLUOR (₹1277.05) is trading above our estimate of fair value (₹209.6)

Significantly Below Fair Value: NAVINFLUOR is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: NAVINFLUOR is poor value based on its PE Ratio (37x) compared to the Chemicals industry average (11.1x).

PE vs Market: NAVINFLUOR is poor value based on its PE Ratio (37x) compared to the Indian market (13.3x).


Price to Earnings Growth Ratio

PEG Ratio: NAVINFLUOR is poor value based on its PEG Ratio (2x)


Price to Book Ratio

PB vs Industry: NAVINFLUOR is overvalued based on its PB Ratio (5.6x) compared to the IN Chemicals industry average (1.1x).


Next Steps

Future Growth

How is Navin Fluorine International forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

18.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: NAVINFLUOR's forecast earnings growth (18.8% per year) is above the savings rate (6.5%).

Earnings vs Market: NAVINFLUOR's earnings (18.8% per year) are forecast to grow slower than the Indian market (20.5% per year).

High Growth Earnings: NAVINFLUOR's earnings are forecast to grow, but not significantly.

Revenue vs Market: NAVINFLUOR's revenue (15.7% per year) is forecast to grow faster than the Indian market (9% per year).

High Growth Revenue: NAVINFLUOR's revenue (15.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: NAVINFLUOR's Return on Equity is forecast to be low in 3 years time (18.3%).


Next Steps

Past Performance

How has Navin Fluorine International performed over the past 5 years?

16.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: NAVINFLUOR has a high level of non-cash earnings.

Growing Profit Margin: NAVINFLUOR's current net profit margins (16.5%) are higher than last year (16.1%).


Past Earnings Growth Analysis

Earnings Trend: NAVINFLUOR's earnings have grown by 16.4% per year over the past 5 years.

Accelerating Growth: NAVINFLUOR's earnings growth over the past year (9.2%) is below its 5-year average (16.4% per year).

Earnings vs Industry: NAVINFLUOR earnings growth over the past year (9.2%) underperformed the Chemicals industry 11.6%.


Return on Equity

High ROE: NAVINFLUOR's Return on Equity (15%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Navin Fluorine International's financial position?


Financial Position Analysis

Short Term Liabilities: NAVINFLUOR's short term assets (₹6.9B) exceed its short term liabilities (₹1.9B).

Long Term Liabilities: NAVINFLUOR's short term assets (₹6.9B) exceed its long term liabilities (₹751.6M).


Debt to Equity History and Analysis

Debt Level: NAVINFLUOR is debt free.

Reducing Debt: NAVINFLUOR has no debt compared to 5 years ago when its debt to equity ratio was 10.2%.

Debt Coverage: NAVINFLUOR has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: NAVINFLUOR has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: NAVINFLUOR has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if NAVINFLUOR's debt is covered by short term assets.


Next Steps

Dividend

What is Navin Fluorine International's current dividend yield, its reliability and sustainability?

0.63%

Current Dividend Yield


Dividend Yield vs Market

company0.6%marketbottom25%0.6%markettop25%2.6%industryaverage0.8%forecastin3Years0.9%

Current dividend yield vs market & industry

Notable Dividend: NAVINFLUOR's dividend (0.63%) is higher than the bottom 25% of dividend payers in the Indian market (0.6%).

High Dividend: NAVINFLUOR's dividend (0.63%) is low compared to the top 25% of dividend payers in the Indian market (2.55%).


Stability and Growth of Payments

Stable Dividend: NAVINFLUOR's dividend payments have been volatile in the past 10 years.

Growing Dividend: NAVINFLUOR's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (22.6%), NAVINFLUOR's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: NAVINFLUOR's dividends in 3 years are forecast to be well covered by earnings (23.7% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.4yrs

Average management tenure


CEO

Radhesh Welling (45yo)

1.2yrs

Tenure

₹48,784,794

Compensation

Mr. Radhesh R. Welling has been Managing Director of Navin Fluorine International Limited since December 11, 2018. Mr. Welling served as the President of Marketing & Corporate Strategy at Navin Fluorine In ...


CEO Compensation Analysis

Compensation vs Market: Radhesh's total compensation ($USD683.71K) is above average for companies of similar size in the Indian market ($USD397.73K).

Compensation vs Earnings: Insufficient data to compare Radhesh's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Vishad Mafatlal
Chairman3.5yrs₹58.82m3.37% 2.0b
Radhesh Welling
MD & Director1.2yrs₹48.78m0.016% 9.6m
Ketan Sablok
CFO & Head of IT1.7yrs₹9.06m0.017% 10.3m
Gyanchand Jain
President of Operations0yrsno datano data
Ashis Mukherjee
CTO, CRO & President of Crams0yrsno data0.052% 31.2m
Niraj Mankad
President of Legal & Company Secretary0yrs₹12.29mno data
P. Haridas
President of Supply Chain Management2.7yrsno datano data
T. Nandakumar
VP & Business Head-International Trade0yrsno data0.00067% 398.8k
Jeyamalini Natesan
President & Chief Human Resources Officer1.1yrsno datano data
Lalit Soni
General Manager of Corporate Treasury0yrsno data0.0078% 4.6m

1.4yrs

Average Tenure

54yo

Average Age

Experienced Management: NAVINFLUOR's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Vishad Mafatlal
Chairman3.5yrs₹58.82m3.37% 2.0b
Radhesh Welling
MD & Director1.2yrs₹48.78m0.016% 9.6m
Harish Engineer
Independent Non-Executive Director6.3yrs₹2.14mno data
Sudhir Mankad
Independent Non-Executive Director8.8yrs₹2.10m0.066% 39.1m
Thekkekara Meloth Nambiar
Non Executive Non Independent Director16.9yrs₹2.31m0.010% 6.0m
Sunil Lalbhai
Independent Non-Executive Director16.9yrs₹2.35m0.010% 6.0m
Pradip Kapadia
Independent Non Executive Director17.1yrs₹2.28m0.014% 8.3m
Radhika Haribhakti
Independent Non-Executive Director5.6yrs₹2.14mno data
S. Kulkarni
Independent Non Executive Director13.3yrs₹2.28mno data
Atul Srivastava
Non-Independent Non-Executive Director17.1yrs₹2.10m0.022% 13.2m

13.3yrs

Average Tenure

67.5yo

Average Age

Experienced Board: NAVINFLUOR's board of directors are seasoned and experienced ( 13.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: NAVINFLUOR insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Navin Fluorine International Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Navin Fluorine International Limited
  • Ticker: NAVINFLUOR
  • Exchange: NSEI
  • Founded: 1967
  • Industry: Specialty Chemicals
  • Sector: Materials
  • Market Cap: ₹59.528b
  • Shares outstanding: 49.46m
  • Website: https://www.nfil.in

Location

  • Navin Fluorine International Limited
  • Sunteck Centre
  • 2nd Floor
  • Mumbai
  • Maharashtra
  • 400057
  • India

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
532504BSE (Mumbai Stock Exchange)INR2ININRNo data
532504BSE (Mumbai Stock Exchange)YesEquity SharesININRSep 2003
NAVINFLUORNSEI (National Stock Exchange of India)YesEquity SharesININRSep 2003

Biography

Navin Fluorine International Limited manufactures and sells specialty fluorochemicals in India and internationally. The company offers refrigerants to OEMs, service technicians, and equipment owners under the Mafron brand name for use in various applications, including window and split room air conditioners, chillers, packaged air conditioners, commercial and industrial refrigeration units, intermediate for API’s, fluoropolymer resins, domestic and industrial refrigerators, and mobile air conditioning. It also provides inorganic fluoride products, such as ammonium bifluoride, potassium fluoride, sodium fluoride, potassium fluorotitanate, potassium fluoroborate, hexafluorophosphoric acid, and HF pyridine and HF urea complex products that are used in various industries comprising oil and gas, stainless steel, pharmaceutical and agrochemicals, abrasives, electronics, and solar energy. In addition, the company offers various specialty fluoro intermediates consisting of boron trifluoride gas and adducts for use in pharmaceutical, crop protection, hydrocarbon, and fragrance applications. Further, it provides contract research and manufacturing services for custom chemical syntheses of fluorinated compounds in the pharmaceuticals, agro chemicals, and specialty chemicals industries; and basic research, library syntheses, process development, scale up, and batch manufacturing services, as well as custom synthesis services. The company also exports its products. Navin Fluorine International Limited was founded in 1967 and is headquartered in Mumbai, India. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/18 12:58
End of Day Share Price2020/02/18 00:00
Earnings2019/12/31
Annual Earnings2019/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.