The average analyst price target on Navin Fluorine available by Bloomberg after the third quarter results stood at ₹3,472, implying an upside of 12.47% from Wednesday’s closing.
Analysts said the reduced price targets were due to subdued performances in the specialty chemicals and molecular businesses.
Motilal Oswal Financial Services said that the postponement of some key molecules and channel inventory destocking led to a subdued performance in the quarter, while the special chemical segment was impacted by the deferment of sales campaigns. “Navin Molecular was the most affected by the postponement of sales for key molecules to FY25, which impacted revenue of the business. Agro specialty capex and the capability capex both are on track to be commissioned within the given timelines and start generating revenues in FY25,” said Motilal Oswal in a note.
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