NAVIN FLUORINE Announces Quarterly Results (2QFY21); Net Profit Up 45.1%

Fri, 30 Oct

NAVIN FLUORINE has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

NAVIN FLUORINE Quarterly Financials

No. of Mths Qtr. Ending		3 Sep-19*	3 Jun-20*	3 Sep-20*	QoQ Change	YoY Change
Net Sales	Rs m	2,639	2,047	3,077	50.3%	16.6%
Other income	Rs m	87	356	88	-75.3%	1.8%
Turnover	Rs m	2,725	2,404	3,165	31.7%	16.1%
Expenses	Rs m	1,963	1,527	2,142	40.3%	9.1%
Gross profit	Rs m	676	521	935	79.5%	38.3%
Depreciation	Rs m	77	99	100	1.5%	29.8%
Interest	Rs m	3	2	3	30.7%	0.0%
Profit before tax	Rs m	682	776	920	18.5%	34.8%
Tax	Rs m	218	260	246	-5.3%	12.9%
Profit after tax	Rs m	464	516	673	30.6%	45.1%
Gross profit margin	%	25.6	25.4	30.4
Effective tax rate	%	32.0	33.5	26.8
Net profit margin	%	17.0	21.5	21.3

Year-on-Year Performance:

• The company's operating income during the quarter grew 16.6% on a year-on-year (YoY) basis. The expenses were up by 9.1% YoY during the same period.
• The company's operating profit increased by 38.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 30.4% in 2QFY21 as against 25.6% in 2QFY20.
• Depreciation charges increased by 29.8% and finance costs increased by 0.0% YoY, respectively.
• Other income increased by 1.8% YoY during the quarter.
• Net profit for the quarter increased by 45.1% YoY. Net profit margins during the quarter increased from 17.0% in 2QFY20 to 21.3% in 2QFY21.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 50.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 40.3% QoQ during the same period.
• The company's operating profit increased by 79.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 30.4% in 2QFY21 as against 25.4% in 1QFY20.
• Net profit for the quarter increased by 30.6% QoQ, while net profit margins declined from 21.5% in 1QFY20 to 21.3% in 2QFY21.

To see how NAVIN FLUORINE has performed over the last eight quarters,please visit here.

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NAVIN FLUORINE Share Price Performance

Over the last one year, NAVIN FLUORINE share price has moved up from Rs 889.7 to Rs 2,256.0, registering a Gain of Rs 1,366.3 or around 153.6%.

Overall, the S&P BSE SENSEX is down 1.0% over the year.

Current Valuations

At the current price of Rs 2,256.0, the price to earnings (P/E) ratio of NAVIN FLUORINE stands at 25.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 10.3 times.