Navin Fluorine International, one of India’s largest manufacturers of speciality fluorochemicals, has recently emerged as one of the top performers on Dalal Street, defying weak market sentiment.
Breaking multiple record highs, the stock has closed higher for the last three sessions, registering a cumulative gain of 23% to ₹6,055 apiece. This also lifted its year-to-date return to 86.55%, and if it maintains the current momentum in the coming weeks, it could record its biggest yearly gain since 2020.
What triggered a sharp rally in Navin Fluorine’s share price?
The recent sharp rally in Navin Fluorine International’s share price began after the company reported better-than-expected results for the second quarter of FY26. The strong performance was well-received by both the Street and analysts, prompting several brokerages to revise their target prices upward for the stock.
The company delivered an impressive performance, reporting robust growth across all three business divisions and a notable margin expansion. Revenue came in at ₹758 crore, marking a 46% YoY and 5% QoQ increase.
Segment-wise, the HPP segment recorded a revenue growth of 38% YoY to ₹404 crore, driven by volume gains and improved price realisations. The Specialty Chemicals division posted a 39% YoY increase, reaching ₹219 crore, while the CDMO segment grew a staggering 98% YoY to ₹134 crore, contributing significantly to the overall performance.
The company reported its highest-ever quarterly EBITDA margin of 32.5% during the quarter, despite global uncertainties. The management expressed confidence in maintaining EBITDA margins near 30% for FY26, following a strong first-half performance.
On the back of strong revenue and operational performance, the company’s net profit surged 152% YoY and 27% QoQ to ₹148 crore in the September quarter.
Following the Q2 results, Axis Securities upgraded its rating on the stock to ‘Buy’ from ‘Hold,’ while raising the target price to ₹5,930 apiece, up from ₹5,400 earlier. Global brokerage firm UBS also lifted the target price on the stock to ₹5900 apiece while keeping its ‘buy’ rating.
Likewise, Centrum Broking also reiterated its ‘Buy’ rating with a target price of ₹6,000 apiece.
Axis Securities noted that the company’s expansion plans across all three business segments underscore its focus on increasing value addition, tapping high-margin opportunities, and diversifying into fast-growing sectors.
Navin Fluorine’s share price journey: From ₹26 to ₹6,055 in 13 years
From a trading price of ₹26 in 2013, the stock has delivered a staggering 9,000% return to reach its recent closing level of ₹6,055. Although the stock went through a prolonged bearish phase between 2022 and 2024, it staged a strong comeback in 2025, surging 86.55% so far.
Among these years, CY15 stood out as the best-performing period, with the stock soaring 205%, followed by 2020, when it gained 160%.
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