Promoter dilution and fund-raising delays
Promoter sold 2% stake twice to fund R32 plant after preferential issue became unviable due to upward market circuit and volatility. Rights issue being planned to refund interest-free loan.
STALLION / bear-case history
Track the concerns that keep returning.
Stallion India Fluorochemicals · risk themes across the available quarters.
Research layer active
Bear-case history
Risks carried through the record.
medium
Plant commissioning delays
Kalapur helium plant delayed due to upgradation from 200 bar to 300 bar system and imported material from US. Mumbai 2 plant re-engineered for doubled capacity and expanded scope (semiconductor, helium, hydrocarbon facilities).
Execution risk on R32 ramp-up
R32 plant to be commissioned in August 2026 with trial production before commercial launch. Company claims 6-month production target is on track but analyst questioned communication lag on delays.
Technology dependency for HFO blend
Company has technology tie-up with Honeywell for HFO blend but relies on third-party R32 for HFO production. HFO plant plans announced but timeline not specified.