Navin Fluorine International Limited has reported a rise of 17% in sales and total income stood at Rs. 421.34 crores during the period ended March 31, 2022 as compared to Rs.358.43 crores during the period ended March 31, 2021.

 

The company's net profit rose by 2.65% and reached Rs.75.16 crores for the period ended March 31, 2022 as against Rs.73.22 crores for the period ended March 31, 2021.

 

The company has reported EPS of Rs.15.16 for the period ended March 31, 2022 as compared to Rs.15.09 for the period ended March 31, 2021.

 

Recently the company had announced a partnership to manufacture Honeywell's proprietary Solstice range of hydrofluoroolefins (HFO) in India. Production is scheduled to commence by Q2 2022 at NFIL's manufacturing facility in Gujarat.

 

This portfolio of next generation products has no ozone depletion potential and a global warming potential (GWP) of 1, thereby helping customers lower their carbon footprint without sacrificing endproduct performance. These products have various applications, including in blowing agents for foam insulation and refrigeration liquid for chillers.

 

The demand for low-GWP solutions continues to grow. Multiple global regulations stemming from the Kigali Amendment to the Montreal Protocol require the phasedown of HFCs, driving the demand for more sustainable solutions. Honeywell has already invested more than a billion dollars in research, development and new capacity for its Solstice technology, having anticipated the need for lower-GWP solutions to combat climate change more than a decade ago.

 

Honeywell's partnership with Navin Fluorine will enable capacity expansion for its Solstice range to cater to the growing global demand for environmentally friendlier solutions.

 

Radhesh Welling, Managing Director, Navin Fluorine International Limited, said, "As the country's leading producer of specialty fluorochemicals, we are pleased to partner with Honeywell for production of Honeywell's industry-first HFOs at our Dahej facility. This will be a truly Make-in-India product that will serve global customers. We will also work together to develop new applications for Indian market. We strongly believe this project will help us further strengthen our partnership with Honeywell to do bigger and better things together in future."