Archive · 25 Aug 2026
Navin Fluorine’s R32 Capacity Expected to Boost CDMO Momentum
Navin Fluorine makes specialized chemical products.
One of its business areas, called high performance products, produced almost 52% of its revenue in the first quarter of FY27.
This business grew 33% because the company sold more products and received better prices.
The company sees R32, a refrigerant, as its next major growth opportunity.
It plans to add capacity to make up to 15,000 tonnes of R32.
The new capacity is expected to start operating in Q3FY27.
Management believes this capacity could eventually generate ₹600-825 crore in revenue each year.
PL Capital estimates that Navin Fluorine’s total revenue could reach ₹4,219 crore in FY27 and ₹4,933 crore in FY28.
Navin Fluorine’s high performance products segment contributed nearly 52% of Q1FY27 revenue.
The segment grew 33%, supported by higher volumes and improved realizations.
R32 is identified as the next major growth opportunity within the high performance products segment.
The company plans to commission up to 15,000 tonnes of additional R32 capacity in Q3FY27.
Management estimates peak annual revenue potential of ₹600-825 crore from the new R32 capacity.
- Who
- Navin Fluorine, with revenue estimates from PL Capital.
- What
- Navin Fluorine is adding up to 15,000 tonnes of R32 refrigerant capacity.
- When
- The capacity is scheduled for commissioning in Q3FY27; the cited segment results are for Q1FY27.
- Where
- Not stated in the article.
- Why
- The R32 capacity is intended to support growth in high performance products and contribute to the company’s CDMO momentum.
- Segment contribution
- High performance products contributed almost 52% of Q1FY27 revenue.
- Segment growth
- The high performance products segment grew 33% in Q1FY27.
- New capacity
- Up to 15,000 tonnes of R32 capacity.
- Commissioning
- Expected in Q3FY27.
- Potential annual revenue
- ₹600-825 crore at peak from the additional R32 capacity.
- FY27 revenue estimate
- PL Capital estimates overall revenue of ₹4,219 crore.
- FY28 revenue estimate
- PL Capital estimates overall revenue of ₹4,933 crore.