Highlights

• Net profit rose 122% YoY to ₹185.4 crore in Q3 FY26.
• Multiple brokers maintain Buy ratings, with targets ranging from ₹7,370 to ₹8,270.
• EBITDA margin expanded to 34.4%, up from 24.3% a year earlier.

Navin Fluorine International Limited (NSE:NAVINFLUOR) has seen a growing number of broker Buy ratings following a sharp improvement in its latest quarterly financial performance. The specialty chemicals company reported a significant rise in revenue and profitability for the December quarter, alongside key corporate actions that have remained in focus for market participants. Despite a modest decline in its share price during the latest session, analyst coverage continues to point toward higher target levels.

Share Price Performance and Market Snapshot

Navin Fluorine shares were trading at ₹6,435 on 10 February, down 2.47% on the day. Over a longer horizon, the stock has gained 52.97% over the past year and advanced 11.23% in the last month, indicating sustained upward movement prior to the latest session.

The recent price action follows the release of the company’s Q3 FY26 financial results, which showed a notable expansion across key operating metrics.

Q3 FY26 Earnings Show Sharp Expansion

For the third quarter of FY26, Navin Fluorine reported net profit of ₹185.4 crore, more than doubling from ₹83.6 crore in the corresponding period last year, marking a 122% year-on-year increase. Revenue for the quarter rose 47.2% YoY to ₹892.3 crore, compared with ₹606.2 crore in Q3 FY25.

Operating performance also improved significantly during the quarter. EBITDA increased to ₹307.4 crore from ₹147.3 crore a year earlier, representing a rise of over 108%. EBITDA margins expanded to 34.4%, compared with 24.3% in the year-ago period.

Broker Buy Ratings and Target Prices

Following the earnings update, multiple brokerage firms have maintained or issued Buy ratings on Navin Fluorine, supported by upgraded earnings visibility and operating metrics. Current Buy recommendations include:

• IDBI Capital Market Services – Target price of ₹8,265
• SPARK Capital Advisors (India) – Target price of ₹7,370
• AMSEC – Target price of ₹7,503
• JM Financial Institutional Securities – Target price of ₹8,270
• Ambit Capital – Target price of ₹7,650
• Centrum Broking – Target price of ₹7,400
• DAM Capital Advisors – Target price of ₹7,725

Dividend, Exceptional Item, and Fundraising

During the quarter, Navin Fluorine recorded an exceptional loss of ₹20.47 crore, arising from a reassessment of employee benefit obligations following the implementation of the New Labour Codes effective 21 November 2025.

Despite the adjustment, the company announced and paid an interim dividend of ₹6.50 per share, equivalent to 325% of face value. Total dividend payout for FY26 stood at ₹33.31 crore.

In addition, the company completed a Qualified Institutional Placement (QIP) in Q2 FY26, issuing 16,02,564 equity shares at ₹4,680 per share, raising approximately ₹750 crore. Management confirmed that the QIP proceeds have been fully deployed in line with disclosed objectives.

Navin Fluorine’s latest quarterly results, combined with dividend payouts and completed fundraising activity, have contributed to increased broker attention. With multiple Buy ratings currently in place, market focus remains on upcoming quarters and the company’s execution across its specialty chemicals portfolio.

FAQs

Q1: Why are brokers issuing Buy ratings on Navin Fluorine?
Broker recommendations follow the company’s sharp increase in revenue, profit, and operating margins in Q3 FY26.

Q2: What were Navin Fluorine’s key Q3 FY26 financial results?
Net profit rose to ₹185.4 crore, revenue reached ₹892.3 crore, and EBITDA margin expanded to 34.4%.

Q3: Has Navin Fluorine undertaken any recent corporate actions?
Yes. The company paid an interim dividend of ₹6.50 per share and raised ₹750 crore through a QIP in Q2 FY26.

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