Navin Fluorine International is a large cap commodity chemical company that recorded a market cap of ₹22,617.47 Cr during Friday's closing session. Navin Fluorine International Ltd (NFIL) is a prominent and well-known Indian manufacturer of speciality fluorochemicals. It is also one of India's pioneers in the production of refrigerant gases. In order to determine the eligibility of the shareholders for the purpose of 350% dividend, the company has announced record date.
The Board of Directors “has recommended a final dividend of ₹7/- (INR Seven only) per equity share for FY 2022-2023 and has fixed Friday, July 07, 2023 as Record Date pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for ascertaining eligibility of Members for the payment of aforesaid final dividend, if declared at the forthcoming 25th Annual General Meeting by the Members of the Company,” said Navin Fluorine in a stock exchange filing.
The recommended final dividend shall be paid on or after Friday, August 04, 2023, if declared, according to the company.
In Q4FY23, Navin Fluorine International reported consolidated sales at ₹697.1 crore, which stood at ₹408.94 crore in the corresponding period in the previous financial year, representing a gain of 70% YoY. During Q4FY23 its operating EBITDA stood at ₹201.8 Cr up by 114% YoY from ₹94.3 Cr in Q4FY22 and its EBITDA margin climbed from 23.0% to 28.9%. During the quarter under review, the net profit of Navin Fluorine International reached ₹136.4 Cr up by 81% YoY from ₹75.2 Cr in the same quarter of FY22.
In the financial year ended March 2023, the company recorded consolidated revenue from operations of ₹2,077.4 Cr up by 43% YoY from ₹1453.4 Cr recorded during the financial year ended 2022. Its EBITDA jumped by 55% YoY from ₹354.9 Cr in FY22 to ₹550.3 Cr in FY23. The company said its net profit during 12MFY23 was ₹375.2 Cr up by 43% YoY from ₹263.1 Cr in 12MFY22.
On Friday, the shares of Navin Fluorine International closed on the NSE at ₹4,535.60 apiece down by 1.82% from the previous close of ₹4,619.90. The stock touched a 52-week-high of ₹4,950.00 on (15-May-2023) and a 52-week-low of ₹3,432.85 on (26-May-2022). During Q4FY23, the company reported promoters shareholding of 28.80%, FIIs stake of 19.58%, DIIs stake of 24.84% and a public stake of 26.78%. As per the shareholding pattern of Navin Fluorine International for January to March 2023 quarter, insurance giant LIC held 6,94,859 fully paid up equity shares or 1.40% stake in the company.
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