Navin Fluorine Q3 results missed Street estimates. Channel destocking + sales campaign deferrals took a big chunk out of its top line. Pricing pressures in its refrigerant exports ate into margins and the bottom line. Finally, its Dahej plant will take a lot more time than expected to fully ramp up. Overall, a bad cocktail of news.
Revenue: Rs 502 cr; -11% YoY (vs Est: Rs 563 cr)
EBITDA: Rs 76 cr; -51% YoY (vs Est: Rs 116 cr)
EBITDA Margin: 15.1% vs 27.7% last year
PAT: Rs 78 cr; -27% YoY (vs Est: Rs 61 cr).
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