CDMO Revenue Target: $100 million for FY27
Management confirmed the $100M revenue target for FY27 remains on track, supported by deepening European partnership and expanded MSA for an additional molecule in the same supply chain.
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Navin Fluorine International · forward-looking guidance across the available source record.
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R32 Capacity Commissioning: Q3 FY27
Additional HFC capacity equivalent to 15,000 metric tons of R32 remains on track for Q3 FY27 commissioning, providing operating leverage for the group.
Advanced Materials Adoption Capacity: Q2 FY28
Rs 90 crore capex for adoption capacity targeting commercial scale qualification of 5 lab-approved products, funded through internal accruals.
CDMO Phase 2 CGMP Operational: Q4 FY27
Rs 125 crore Phase 2 CGMP capex expected to be operational by Q4 FY27, supported by growing demand from European CDMO partner, part of Rs 288 crore board-approved program.
FY26 EBITDA margin: 28-30%
Company raised full-year EBITDA margin guidance from original 25% to 28-30% based on H1 performance of 30.5%. Original guidance had more upside than downside, and H1 results validate the upward revision.
FY26 Capex: ₹600-700 crore
Full-year capex expected within ₹600-700 crore range including ongoing projects and newly announced capexes (R32 expansion and MPP debottlenecking). Multi-year frame of ~₹1,000 crore over next two years.
AHF Plant Commissioning: Q3 FY26
AHF project continues with mechanical trials underway and commissioning expected in Q3 FY26. Electronic grade HF development is also progressing.
R32 Expansion Revenue: ₹600-825 crore peak annual
The 15,000MT R32 capacity (₹236.5 crore capex) is expected to generate peak annual revenue of ₹600-825 crore upon commissioning in Q3 FY27. Project based on ₹4.5-6.5/kg pricing assumption.
CDMO Revenue Target: ₹100 million aspirational
Company reiterated ₹100 million aspirational CDMO revenue target with strong visibility. European MSA partner accounts for 35-40% of this target with more upside potential. Full utilization expected by FY27.
30% Annual EBITDA Margin Target
Management stated Navin Fluorine should be viewed as a 30% annual EBITDA margin business with ±200bps quarterly variability, up from historical ~25% guidance.
CDMO $100 Million Aspirational Target
Progressing toward $100M CDMO revenue target with strong near-term catalysts from EU partner MSA and multiple expected molecule readouts in FY27.
Wave 2 Capex Commissioning Schedule
Kimox project (Q1 FY27), MPPD debottlenecking (Q3 FY27), and R32 expansion (Q3 FY27) all on track as committed.
Employee Cost Guidance
Staff costs expected at 7-8% of revenue going forward, down from historical double-digit levels, reflecting operational optimization.