Shares of this mid-cap stock engaged in the ‘chemical’ sector traded in the red and ended the session on a flat note on Wednesday after Goldman Sachs offloaded its stake. In the last five trading sessions, the company’s stock dipped close to 15 percent. 

With a market capitalization of Rs 18,956.61 crores, the stocks of Navin Fluorine International Limited saw some dip in prices and closed at Rs 3,823.65, a flat movement as compared to the previous closing levels of Rs 3,819.30 apiece. 

In a recent filing with the Bombay Stock Exchange (BSE) dated 3rd October 2023, the company informed about ‘Goldman Sachs Asset Management International’ selling 3,31,861 equity shares of the company via open market sale equating to a 0.67 percent stake in the company. The sale of shares took place on 29th September 2023. 

During the period between 28th July 2017 and 21st September 2023 (inclusive of both days), Goldman Sachs Asset Management International sold 8,46,620 shares equating to a 1.708 percent stake in multiple tranches. 

Digging into the annual consolidated financials of the company, the prime indicators of business such as operating revenues as well as after-tax profits with the former increasing from Rs 1,453.36 crores during FY21-22 to Rs 2,077.4 crores during FY22-23, and, the latter taking a shift from Rs 263.08 crores to Rs 375.19 crores. 

Additionally, the basic profitability ratios of the company increased with the return on equity (RoE) moving up from 15.14 percent during FY21-22 to 18.71 percent during FY22-23, and, the return on capital employed (RoCE), keeping the timeframe the same, shifted up from 19.31 percent to 21.01 percent. 

According to the latest shareholding pattern data for the quarter ended June 2023, the company’s Promoters hold a 28.81 percent stake, and the Foreign Institutional Investors (FIIs) hold a considerable stake of 18.5 percent in the company. 

Navin Fluorine International Limited is engaged in the chemicals business with a wide range of business segments including inorganic fluorides, refrigeration, specialty fluorochemicals, contract research, and other manufacturing services. Geographically, the company earns a majority of its revenue from operations overseas. 

Written by Amit Madnani 


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