External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

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Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>Revenue for our coverage universe is likely to improve by 6.3% QoQ while it could fall by 6.6% YoY in 2Q</li><li>Inventory rationalisation by global agrochemicals and weak demand for products from the US and Europe led to a correction in the prices of finished products</li><li>EBITDA could fall by 7% YoY while EBITDA margin could remain flattish YoY.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Revenue for our coverage universe is likely to improve by 6.3% QoQ while it could fall by 6.6% YoY in 2QInventory rationalisation by global agrochemicals and weak demand for products from the US and Europe led to a correction in the prices of finished productsEBITDA could fall by 7% YoY while EBITDA margin could remain flattish YoY.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Chemicals (Q2FY24 Results Preview): Lackluster quarter

Equity Bottom-Up

Navin Fluorine International / Equity Bottom-Up

<ul><li>Navin Fluorine International Ltd (NFIL) announced that Mr Radhesh Welling has resigned as the managing director (MD) and director on the board of the company for personal reasons</li><li>Mr Welling will be relieved from the services of the company effective from the close of business hours on December 15, 2023</li><li>He shall continue to serve the company to facilitate a smooth transition</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Navin Fluorine International Ltd (NFIL) announced that Mr Radhesh Welling has resigned as the managing director (MD) and director on the board of the company for personal reasonsMr Welling will be relieved from the services of the company effective from the close of business hours on December 15, 2023He shall continue to serve the company to facilitate a smooth transitionContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Navin Fluorine International - Growth Momentum to Continue. Maintain BUY

<ul><li>GAIL: Our BUY recommendation on GAIL with a target price of INR 137 is based on (1) an increase in gas transmission volume to 127mmscmd by FY25 on the back of an increase in domestic gas production, (2) completion of major pipelines in eastern and southern India, and (3) expectation of improvement in earnings from the petchem segment</li><li>Q1FY24 reported EBITDA/PAT at INR 24/14bn, came in below our estimates, impacted by weak earnings from the LPG and Liquid Hydro Carbon (LHC) segment</li><li>However, sharp pick-up in natural gas transmission volumes, higher tariff and higher gas marketing volumes supported earnings</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

GAIL: Our BUY recommendation on GAIL with a target price of INR 137 is based on (1) an increase in gas transmission volume to 127mmscmd by FY25 on the back of an increase in domestic gas production, (2) completion of major pipelines in eastern and southern India, and (3) expectation of improvement in earnings from the petchem segmentQ1FY24 reported EBITDA/PAT at INR 24/14bn, came in below our estimates, impacted by weak earnings from the LPG and Liquid Hydro Carbon (LHC) segmentHowever, sharp pick-up in natural gas transmission volumes, higher tariff and higher gas marketing volumes supported earningsContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: GAIL, Oberoi Realty, Petronet LNG, Navin Fluorine International

HSIE Results Daily: GAIL, Oberoi Realty, Petronet LNG

External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Financial Performance: Navin Fluorine International Ltd (NFIL) numbers for Q1FY23 missed our estimates on all fronts as HPP and AHF plant shutdown affected 4 weeks of production.</li><li>The company’s reported revenue at 491 Cr against our estimate of 611 Cr, and was up 24%/-30% YoY/QoQ.</li><li>EBITDA halved from the last quarter due to negative operating leverage (up 15% but down 43% QoQ).</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Financial Performance: Navin Fluorine International Ltd (NFIL) numbers for Q1FY23 missed our estimates on all fronts as HPP and AHF plant shutdown affected 4 weeks of production.The company’s reported revenue at 491 Cr against our estimate of 611 Cr, and was up 24%/-30% YoY/QoQ.EBITDA halved from the last quarter due to negative operating leverage (up 15% but down 43% QoQ).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Navin Fluorine International Ltd. - Strong CDMO & Specialty Performance

India

Navin Fluorine International Limited manufactures fluorochemicals. The Company produces benzotrifuoride derivatives, fluoro benzene derivatives, fluoro toluene derivatives, and aliphatic fluoro compounds.

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Navin Fluorine International (NFIL IN)

Chemicals (Q2FY24 Results Preview): Lackluster quarter

Inventory rationalisation by global agrochemicals and weak demand for products from the US and Europe led to a correction in the prices of finished...

HDFC Securities

Navin Fluorine International - Growth Momentum to Continue. Maintain BUY

Navin Fluorine International Ltd (NFIL) announced that Mr Radhesh Welling has resigned as the managing director (MD) and director on the board of...

HDFC Securities

HSIE Results Daily: GAIL, Oberoi Realty, Petronet LNG, Navin Fluorine International

Q1FY24 reported EBITDA/PAT at INR 24/14bn, came in below our estimates, impacted by weak earnings from the LPG and Liquid Hydro Carbon (LHC) segment

HDFC Securities

HSIE Results Daily: GAIL, Oberoi Realty, Petronet LNG

Q1FY24 reported EBITDA/PAT at INR 24/14bn, came in below our estimates, impacted by weak earnings from the LPG and Liquid Hydro Carbon (LHC) segment

HDFC Securities

Navin Fluorine International Ltd. - Strong CDMO & Specialty Performance

Financial Performance: Navin Fluorine International Ltd (NFIL) numbers for Q1FY23 missed our estimates on all fronts as HPP and AHF plant shutdown...

Axis Direct

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