Q4 2024 Navin Fluorine International Ltd Earnings Call Transcript
Key Points
- Navin Fluorine International Ltd (BOM:532504) reported robust performance in the HPP and Specialty businesses despite global headwinds.
- The company delivered revenues of INR 2,065 crores and an operating EBITDA of INR 398 crores for FY '24.
- The Board of Directors recommended a final dividend of 750% per share of INR 2 each, bringing the total dividend for FY '24 to INR 15 per share.
- The R32 plant achieved higher than rated capacity in the last quarter, and domestic pricing of R32 is witnessing positive trends.
- The company has secured visibility of orders from existing MSA with European CDMO for FY '25 and completed validation campaigns for late-stage molecules from major pharma companies.
- The CDMO business delivered weak results due to deferral of sales of key molecules and validation issues with early-stage molecules.
- Operating EBITDA margin for FY '24 stood at 19.3%, down from 26.5% in FY '23, reflecting a decline of 720 basis points.
- Profit after tax for FY '24 was INR 270.5 crores, down from INR 375 crores in FY '23, due to higher depreciation and finance costs.
- The Specialty business faced challenges due to aggressive inventory reduction by global Agchem majors and dumping by Chinese players.
- The sales in Q4 FY '24 were impacted by lower sales in the CDMO segment and pricing pressure in the export market of R22.
Ladies and gentlemen, good day, and welcome to Q4 FY '24 Earnings Conference Call of Navin Fluorine International Limited, hosted by Orient Capital. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Ms. [Shivani Karvat] Orient Capital. Thank you, and over to you, ma'am.
Thank you, and welcome to the Q4 and FY '24 Earnings Conference Call. Today on this call, we have Mr. Vishad Mafatlal, Chairman; and Mr. Anish Ganatra, Chief Financial Officer of Navin Fluorine International Limited.
This conference call may contain forward-looking statements about the company, which are based on beliefs, opinions and expectations as of today. Actual results may differ materially. These statements are not the guarantees of future performance and involve risk and uncertainties that are difficult to predict. A detailed safe harbor statement is given on Page #2 of investor presentation of the company, which has been uploaded on the stock exchange and company Website.
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