International brokerage Jefferies has raised its price target on Navin Fluorine International to ₹9,405, forecasting a 14% upside from current market levels. According to reports from The Economic Times, shares of Navin Fluorine International gained as much as 3% to their day's low of ₹8,435 on the BSE on Friday following the target price hike announcement. The brokerage retained its Buy rating while citing growth prospects in CDMO, R32 and the Chemours project as key drivers for the upward revision.
The company reported robust financial results for the June 2026 quarter, with consolidated net profit jumping 108% year-on-year to ₹243 crore compared to ₹117 crore in the corresponding quarter last year. As reported by The Economic Times, revenue from operations surged 44% year-on-year to ₹1,045 crore, up from ₹725 crore in Q1FY26. The strong quarterly performance has prompted brokerage firm Elara Securities to maintain its 'Buy' rating with a target price of ₹9,158, implying a potential upside of nearly 20% from current levels.
Navin Fluorine is targeting US$200 million in CDMO revenues by FY30, with management reiterating its US$100 million revenue target for FY27. According to reports from The Economic Times, the company expects Nubeqa to contribute 50-55% of FY27 CDMO revenues, while three new readouts are scheduled over the next 12-15 months. The company has announced fresh capex for further value addition in the intermediate it supplies for Nubeqa, which could increase its market share in the product to 50% from the current 35-40%.
Management expects the new R32 capacity to ramp up quickly and has already contracted around 35% of the total capacity at an attractive price, effective January 2027. As reported by The Economic Times, domestic R32 prices remain above export prices, with the product expected to remain relevant through the refrigerant transition. The Chemours project remains on track for commissioning in Q3FY27, followed by a 12-15 month qualification and commercialisation period, with peak revenue expected around 2031.
The company has announced ₹0.9 billion in capex for an advanced materials plant, targeted for commissioning by Q2FY28 to manufacture products for the semiconductor and defence industries. According to reports from The Economic Times, Jefferies projects a 23% EPS CAGR over FY26-29E and has retained its Buy rating with a price target of ₹9,405, based on 42x PE and rolled forward to September 2028, implying potential upside of 15%.
