Highlights of the Concall

• Total income from operations rose 33% on a YoY basis in Q3FY'15 to Rs 145.88 crore while EBITDA grew 47% to Rs 23.63 crore. PBT was up 97% to Rs 18.93 crore while bottomline of the company increased 107% to Rs 14.2 crore.

• On a QoQ basis Total income from operations rose 17% while EBITDA grew 21%. PBT was up 32% and bottomline 41%.

• For 9MFY'15 Total income from operations rose 23% to Rs 400.15 crore but EBITDA fell 7% to Rs 59.28 crore. PBT was down 30% to Rs 44.65 crore while bottomline of the company increased 1% to Rs 32.78 crore.

• Revenue was driven by strong traction across all business segments

• Refrigerant gases formed 36% of total revenues in 9MFY'15 while specialty chemicals formed 40%, inorganic fluorides 20% and CRAMS4%.

• Refrigerant business performed well with improvement in volumes especially in exports. Domestic demand was robust from refrigeration and feedstock segment. The company expects refrigerant business to be fairly stable for quarters to come.

• Greenfield Facility at Dahej for Specialty Chemicals is expected to come on-stream by H2 of FY16. Navin Fluorine has JV with Piramal Enterprises for this project in Specialty Chemicals space. Piramals will hold 51% of the equity share of the proposed JV company and 49% is held by Navin Fluorine. This JV Company will develop, manufacture, sell Specialty Fluorine Chemicals with specific focus on applications in healthcare segment. In the first phase of this development, JV is expected to invest roughly about Rs.120 crore.

• Contract Manufacturing operations at Dewas at Madhya Pradesh is expected to become operational by H1 of FY16 at an investment of Rs 60 crore. This facility is also a cGMP compliant facility.

• The company has visibility of CRAMS business order book for next two quarters.

• Chloroform prices continues to be a higher level similar in Q2FY'15. Chloroform forms around 12-15% of total material consumption.

• The company has introduced few new products in domestic and international markets.

• The company sees Q3FY'15 performance to be sustainable level of performance for quarters to come.