Q3 FY16

Result Update Presentation

Navin Fluorine International Limited

Certain matters discussed in this Presentation may contain statements regarding the Companys market opportunity and
business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not
guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult
to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the
economies of various international markets, the performance of the industry in India and world-wide, competition, the companys
ability to successfully implement its strategy, the Companys future levels of growth and expansion, technological
implementation, changes and advancements, changes in revenue, income or cash flows, the Companys market preferences and its
exposure to market risks, as well as other risks. The Companys actual results, levels of activity, performance or achievements
could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no
obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and
projections made by third parties included in this Presentation are not adopted by the Company and the Company is not
responsible for such third party statements and projections.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but
the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth,
accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all
inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or
any omission from, this Presentation is expressly excluded.

This presentation and the accompanying slides (the Presentation), which have been prepared by Navin Fluorine
International Limited (the Company), have been prepared solely for information purposes and do not constitute
any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on
in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made
except by means of a statutory offering document containing detailed information about the Company.

Safe Harbor

Operating EBITDA

Revenue

Operating PBT

Note: 9M FY16 Results compared with 9M FY15

Revenue & Profitability driven by:

Business Mix and Product-Mix within each Business Unit
Geography Mix

+119%

Rs. 63 Crs

CRAMS registered revenue of Rs. 43 Crs in 9M FY16, growth of 177% YoY

Revenue of Rs.23 Crs during Q3 FY16 - Highest-ever quarterly revenue

+79%

Rs. 80 Crs

+12%

Rs. 447 Crs

Strong Performance in 9M FY16

Q3 FY16

Q2 FY16

Q3 FY16

23

Q2 FY16

32

21%

Q3 FY16

23

16%

Operating EBITDA & Margin (%)

Q3 FY15

19

13%

16%

Business & Profitability impacted due to change in Product-Mix & Geography-Mix

145

151

Q-o-Q

Q3 FY16

Q3 FY15

Revenue

145

146

Y-o-Y

Key Highlights Q3 FY16

Q2 FY16

26

Operating PBT

Q3 FY15

13

Q3 FY16

16

Q3 FY16

16

Rs.Crs

Specialty Chemicals

9M FY16

9M FY15

CRAMS

36%

16%

39%

10%

36%

20%

40%

4%

Inorganic Fluorides

35%

15%

44%

6%

Q2 FY16
Refrigerant Gases

Q3 FY15

38%

18%

41%



Revenue Mix : Business Unit Wise

Q3 FY16

30%

17%

37%

16%

Exports
39%

FY12

195

176

FY13

Refrigerants

FY14

154

FY15

194

Domestic
61%

9M FY16

157

Business Units Performance

Revenue (Rs.Crs)
Geographic Mix 9M FY16

FY13

FY12
Exports
12%

99

98

FY14

113

Inorganic Fluorides

FY15

105

Domestic
88%

9M FY16

71

FY13

178

FY14

156

FY15

215

Domestic
54%

9M FY16

175

* CRAMS business generating revenue since FY13

Exports
46%

FY12

159

Specialty Chemicals

Business Units Performance

Revenue (Rs.Crs)
Geographic Mix 9M FY16

FY13

14

CRAMS*

31

FY14
FY15
Domestic
0%

26

Exports
100%

9M FY16

43

03

02

01

Continuous Focus on :
Improving Revenue-mix towards Value-added Products
Enhancing Reach - New markets / Customers

Greenfield Facility at Dahej, Gujarat

JV with Piramal Enterprises Ltd. to develop, manufacture and sell speciality
Fluorochemicals for healthcare segment
Current estimates of investments ~Rs.140 Crs
Expected to come on-stream by H2FY16

Plant getting on-stream

Numerous Customer Audits completed successfully

The new facility is Indias only plant with cGMP compliant capabilities for high
pressure fluorination

Manufacturing Facility at Dewas

Key Updates

45
11.2%

3
13
29
7.2%
16
45
12
33
8.2%

46
116
80
18.0%

2
15
63
14.1%
17
80
25
55
12.3%

Employee Expenses

Other Expenses

EBITDA

EBITDA Margin

Interest Expenses

Depreciation

Operating PBT

Other Income

PBT

Tax

Profit After Tax

Profit After Tax Margin

Operating PBT Margin

112

204

Raw Material
46

198

400

447

Revenue

9M FY15

9M FY16

Rs. Crs.

68%

109%

119%

79%

12%

Change %

Standalone Profitability Statement

9.4%

14

20

11.0%

16

15.8%

23

37

15

70

145

Q3 FY16

9.7%

14

19

9.2%

13

12.9%

19

37

15

74

146

Q3 FY15

(4%)

35%

20%

22%

(0.5%)

Change %

9.0%

49

19

68

27

7.6%

41

19

11.6%

63

150

61

272

546

FY15



$WUKPGUU1XGTXKGY



Strong Clientele base in India

& abroad, including Global
Innovators

Manufacturing plants
strategically located
closer to major ports

Largest Integrated Specialty

Fluorochemical Company in India

Overview

RESPONSIBLE CARE
certification

Pioneers of Refrigerant
Gas manufacturing in India

Over 45 years of expertise

in Handling Fluorine

Building Indias only plant with high

pressure fluorination capabilities with
cGMP compliance for CRAMS Business

Specialty
Chemicals 39%

Inorganic
Fluorides 19%

Refrigerants
36%

Specialty
Chemicals 27%

Inorganic
Fluorides 18%

Refrigerants (incl.
CER) 55%



CRAMS 6%

CRAMS 0%

Inorganic Fluorides &

Refrigerants are
traditional business
since 1967

Commenced Specialty Chemicals in

2000

Commenced CRAMS business in 2011

Focus on Rising up Fluorine Value-Pyramid

FY15 Revenue %

FY11 Revenue %

Business Units (BU) - Standalone



Clients across the Globe



cGMP Compliant Manufacturing plant

for CRAMS to come up at Dewas soon

cGMP Compliant Pilot plant for CRAMS

in Dewas

Chemical Complex at Surat spread

over 135 acres, houses Refrigerant,
Inorganic Fluorides & Specialty
Chemicals Plants

Manufacturing

Extensive expertise focusing on

specialty fluorine chemistry

Over 45 years of experience in

handling Fluorine

Pioneered Manufacturing of
Refrigerant Gases in India

Fluorination Capabilities

Key Strengths

Diversified sourcing of Fluorspar away

from China

Supply from JV to commence in FY17

Backward integration for Raw material

through 25% JV partner in the only
Fluorspar beneficiation company in
India

Raw Material Sourcing

R&D strength augmented by

Manchester Organics Acquisition

Supports in product addition &

process efficiency in all business units

DSIR approved R&D Centre

State-of-the-art R&D centre Navin

Research Innovation Centre at Surat

In-house R&D



Strong demand for air conditioning and refrigeration equipment

Increasing usage as feedstock in pharma

Refrigerant

Introduction of new molecules in portfolio

Entry into newer geographies

Inorganic Fluorides

Introduction of new high value added molecules in portfolio

Entry into newer geographies

Specialty Chemicals

Business progression from Contract research to contract

manufacturing
Manufacturing facility to be operational by FY16

CRAMS

Growth driven by Every Business Unit



*KUVQTKECN
(KPCPEKCN&CVC



FY14

FY14

42

+62%

FY15

FY15

49

PAT (Rs.Crs)

+16%

Revenue (Rs.Crs)

MOL Performance

FY14

11.05%

+ 434 bps

FY15

FY15

15.39%

PAT Margin %

FY14

+76%

PBT (Rs.Crs)

59
133
66
13.6%

74
156
72
12.2%



Other Income
PBT
Tax
Profit After Tax
Minority Interest
Extraordinary Items
PAT after Minority Interest and Extraordinary Items

Interest Expenses
Depreciation
Operating PBT
Operating PBT Margin

228

289

Raw Material
Employee Expenses
Other Expenses
EBITDA
EBITDA Margin

15
55

20
58

11

66

55

(4)

69

7.94%

8.24%
78

39

49

31

22

20

30

486

592

Revenue

FY14

FY15

Rs. Crs.

Consolidated Profitability Statement

26%

9.4%

22%

Change %



Rs. Crs.
Shareholders Fund
Share capital
Reserves & Surplus
Minority Interest
Non-current liabilities
Long term borrowings
Deferred Tax Liabilities (net)
Other non-current liabilities
Current liabilities
Short term borrowings
Trade Payables
Other current liabilities
Total Liabilities
Non-current assets
Fixed assets
Goodwill on Consolidation
Non-current Investments
Long-term loans and advances
Current assets
Current Investments
Inventories
Trade receivables
Cash and bank balances
Short Term Loans & Advances
Other current assets
Total Assets

Consolidated Balance Sheet

Mar14
10
546
9
33
28
57
61
35
779
253
41
102
32
128
66
90
38
26
3
779

Mar15
10
578
13
27
32
28
34
89
41
852
293
41
116
91
55
76
120
28
28
4
852



Contact

Investor Relations Advisors :

Strategic Growth Advisors Pvt. Ltd.

CIN : U74140MH2010PTC204285
Ms. Sanjita Ghosh / Mr. Shogun Jain
07738358389 / 07738377756
gsanjita@sgapl.net / jshogun@sgapl.net
www.sgapl.net

Company :

Navin Fluorine International Ltd.

CIN : L24110MH1998PLC115499
Mr. Sitendu Nagchaudhuri
Chief Financial Officer
sitendu.nagchaudhuri@nfil.in
www.nfil.in

For further information, please contact: