The shares of one of the largest integrated specialty fluorochemical companies in India in talk after Life Insurance Corporation of India Limited increased its stake in the company to 5 percent.
At 12:24 p.m the shares of Navin Fluorine International Limited were trading at Rs. 3,468.85, down 0.91 percent from its previous day’s close price of Rs. 3500.85 and its market capitalization is Rs. 17,190 Crores.
As per the company’s filing on BSE, Life Insurance Corporation of India Limited has acquired an additional 0.245 percent stake in Navin Fluorine International Limited consisting of 1,21,741 equity shares.
Pre-acquisition Life Insurance Corporation of India Limited held a 4.792 percent stake in the company consisting of 23,75,398 shares and post-acquisition it currently holds a 5.037 percent stake consisting of 24,97,139 shares of the company.
Navin Fluorine International Limited is one of the largest integrated specialty fluorochemical companies in India, engaged in the business of producing refrigeration gases, inorganic fluorides, specialty organofluorines, and many more, it also offers contract research and manufacturing services.
In FY23, it generated 66 percent of its revenue from exports and 34 percent from the domestic market, and its revenue breakup is as follows 36 percent from Specialty chemicals, 43 percent from high-performance products, and 21 percent from Contract development and Manufacturing.
The company’s revenue from operations grew 42.94 percent from Rs. 1,453.36 Crores in FY22 to Rs. 2,077.4 Crores in FY23, accompanied by increasing profits of Rs. 263.07 Crores to Rs. 375.18 Crores.
It has reported a return on equity (ROE) of 18.71 percent and a return on capital employed (ROCE) of 21.01 percent, it is making good return on its equity and capital employed.
Written by: Bharath K.S
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