Multibagger chemical stock declares 250% dividend, sales grew by 24% in Q2

The company has said in a stock exchange filing that “The Board of Directors, at its Meeting held today, has declared an interim dividend of ₹5/- (INR Five only) per equity share of the face value of ₹2/- each for the Financial Year 2022-2023. Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Friday, November 4, 2022 has been fixed as the Record Date for ascertaining eligibility of Members for the payment of aforesaid Interim Dividend.”

Considering the payment of dividend, the company has said that the record date has been fixed for “Ascertaining eligibility of Members for the payment of Interim Dividend of ₹5/- per equity share (250% of face value) for the Financial Year 2022-2023, as declared by the Board at its Meeting held today i.e. October 19, 2022. The Interim Dividend will be paid on or after Thursday, November 17, 2022.”

On a consolidated basis, the company reported net revenue from operations of ₹419.2 in Q2FY23 compared to ₹339.0 Cr in Q2FY22 representing a YoY growth of 24% and the net sales have grown 5% QoQ from ₹397.5 Cr as of Q1 FY23. The company reported an EBITDA growth of 11% YoY from ₹84.2 Cr in Q2FY22 to ₹93.8 Cr in Q2FY23 but the same has fallen -5% QoQ from ₹99.1 Cr as of Q1 FY23. The company reported a profit before tax (PBT) of ₹83.1 Cr in Q2FY23 compared to ₹82.4 Cr in Q2FY22. However, the company reported a fall of -9% YoY in net profit from ₹63.2 Cr in Q2FY22 to ₹57.8 Cr in Q2FY23 as well as the net profit has fallen -22% QoQ from ₹74.5 Cr recorded in Q1 FY23.

On a standalone basis, the company reported net revenue from operations of ₹366.4 Cr in Q2FY23 compared to ₹324.4 Cr in Q2FY22 representing a YoY growth of 13% but sales have fallen -5% QoQ from ₹386.8 Cr as of Q1 FY23. The company reported an EBITDA growth of 8% YoY from ₹83.6 Cr in Q2FY22 to ₹90.0 Cr in Q2FY23 but the same has fallen -10% QoQ from ₹99.9 Cr as of Q1 FY23, whereas the company declared a profit before tax (PBT) of ₹86.3 Cr in the quarter ended September 2022 compared to ₹80.8 Cr recorded in the same quarter last year. The company reported YoY growth of 3% in net profit from ₹62.1 Cr in Q2FY22 to ₹64.1 Cr in Q2FY23, however net profit has fallen by -19% QoQ from ₹79.0 Cr recorded in Q1 FY23.

Navin Fluorine International Limited said in its investor presentation report that in H1FY23 it has implemented new organizational structure – 3 business units led by 3 operating CEOs with full P&L responsibilities, NFASL has commenced commercial production of Hydrofluoroolefins post successful supply of commercial trials and specialty business continues to register strong revenue growth; recorded highest ever quarterly sales in Q2FY23. 

The shares of Navin Fluorine International Limited closed on Friday at ₹4,431.00 apiece, up by 0.28% from the previous close of ₹4,418.75. In its last trading session, the stock recorded a total volume of 329,581 shares compared to the 20-Day average volume of 224,123 shares. The stock has produced a multibagger return of 503.31% over the past five years, and a multibagger return of 474.14% during the past three years. The stock has appreciated 30.76% over the past year, and it has climbed 4.93% year to date (YTD) in 2022. For the quarter ended September or Q2FY23, the company reported a promoter shareholding of 29.40%, FIIs holding of 20.07%, DIIs holding of 22.67% and public shareholding of 27.86%.