Navin Fluorine has reported a strong performance for the first quarter of FY27, with consolidated revenue rising 44% year-on-year and 11% sequentially to Rs. 1,045.1 crore, driven by broad-based growth across its key business verticals.

Operating EBITDA increased 73% YoY and 11% QoQ, while operating PBT surged 101% YoY and 13% QoQ, reflecting improved business momentum and operational leverage. The company’s operating EBITDA margin expanded by 566 basis points YoY, though it was marginally lower by 8 basis points sequentially.

The company’s growth was led by its High Performance Products (HPP), Specialty Chemicals and Contract Development and Manufacturing Organisation (CDMO) businesses, with each segment delivering strong year-on-year revenue growth.

HPP business gains momentum

The HPP business recorded revenue of Rs. 540 crore in Q1 FY27, up 33% from Rs. 407 crore in Q1 FY26.

Revenue growth was supported by higher volumes and improved realisations, while the pricing environment for Hydrofluorocarbon (HFC) products remained constructive. The company also witnessed increasing interest for contractual offtakes linked to upcoming capacities.

Navin Fluorine said its AHF facility, which commenced operations in Q4 FY26, continues to ramp up. The company’s capex for additional HFC capacity equivalent to up to 15,000 MTPA of R32 remains on track for commissioning in Q3 FY27.

Specialty Chemicals delivers 48% growth

The Specialty Chemicals segment reported revenue of Rs. 325 crore in Q1 FY27, compared with Rs. 219 crore in the same period last year, marking a growth of 48% YoY.

The company said sustained growth was driven by strong order visibility, continued scale-up across existing molecules and a healthy pipeline of new product launches.

The Chemours project is targeted for completion by the end of Q2 FY27, while de-bottlenecking of MPP capacity at Dahej is progressing as planned and is expected to be commissioned in Q3 FY27.

CDMO business records 82% revenue growth

Navin Fluorine’s CDMO business continued its strong growth trajectory, with revenue increasing 82% YoY to Rs. 180 crore in Q1 FY27 from Rs. 99 crore in Q1 FY26.

The company said momentum remains strong, supported by its order book and deeper engagement with a leading European CDMO player. Growth is being supported by rising demand for existing molecules and an expanding role in the customer’s supply chain.

The company had earlier received board approval for cGMP4 capex of Rs. 288 crore in February 2024. Phase I of the project was operationalised in Q3 FY26, while Phase II, involving Rs. 125 crore of capex, is expected to be operational by Q4 FY27.

Navin Fluorine highlighted its CDMO strategy of maintaining a balanced portfolio across late-stage commercial molecules and early-stage opportunities, while expanding into high-growth therapeutic areas including oncology, respiratory, cardiovascular, neurology and animal health.

Company builds new growth engine

Navin Fluorine is also developing an advanced materials business vertical aimed at creating a high-growth, high-margin opportunity by leveraging its core fluorination capabilities.

The new vertical will focus on niche applications in sunrise sectors including data centres, electronics, defence and semiconductors.

The company is setting up adoption capacities to commercialise its product pipeline, including:

Chemours project: Capex of Rs. 90 crore for establishing initial commercial capacity to support adoption of innovative liquid cooling products.

DRDO TDF project: Capex of Rs. 120 crore to drive AtmaNirbhar Bharat through indigenous process development for a critical defence material.

With strong execution across existing businesses and investments in emerging applications, Navin Fluorine is positioning itself for sustained growth across specialty chemicals, CDMO and advanced materials markets.