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Gujarat Fluorochemicals

FLUOROCHEM NSE
₹4,613.30 No trade today
P/E
83.76
View as Markdown
MCP
Close 4 Nov 2026 ₹4,613.30 +966.80 +26.5% 1Y
Start ₹3,646.50

Key Fundamentals

MidcapChemicals & PetrochemicalsChemicals

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
9.64%
Debt to Equity
0.35
EPS (TTM)
₹55.08
Book Value
₹763.95
Market Cap
—
P/E (TTM)
83.76
P/B
6.04
ROE
7.82%
Dividend Yield
0.07%
EBITDA
₹1,332 Cr
52W High
₹4,958.90
52W Low
₹2,916.60
Volume
0

Peer Comparison

Commodities › Chemicals › Specialty Chemicals

Gujarat Fluorochemicals peer comparison
Pidilite Industries
₹1,510.2058.04₹1,54,107 Cr13.721.42%23.90%31.00%₹15,399 Cr₹2,677 Cr
Gujarat Fluorochemicals (this company)
₹4,613.3083.76₹49,073 Cr6.040.07%7.82%9.64%₹5,303 Cr₹600 Cr
Navin Fluorine International
₹8,785.0057.03₹44,060 Cr10.100.09%19.60%21.00%₹3,634 Cr₹789 Cr
Deepak Nitrite
₹1,578.4027.48₹20,919 Cr3.320.49%9.82%11.40%₹8,575 Cr₹784 Cr
Aether Industries
₹1,540.7086.90₹20,030 Cr7.880.00%9.66%11.90%₹1,231 Cr₹235 Cr
Aarti Industries
₹447.5530.57₹15,838 Cr2.590.23%7.13%6.86%₹9,010 Cr₹531 Cr
Atul
₹5,156.5019.67₹14,827 Cr2.310.59%11.50%14.90%₹6,969 Cr₹788 Cr
Median 7 companies₹1,578.4057.03₹20,919 Cr6.040.23%9.82%11.90%₹6,969 Cr₹784 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

47 Average

Data confidence 100/100

Category scores

Quality
52
Average
Returns, margins, earnings quality 22% weight
Valuation
23
Poor
Cheap vs sector & own history 24% weight
Growth
37
Poor
Sales & profit trajectory 9% weight
Financial Health
55
Average
Solvency, leverage, coverage 9% weight
Momentum
88
Strong
Trend strength, vol-adjusted 12% weight
Ownership
52
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

No strengths listed

Weaknesses

4
  • Stock is trading at 6.25 times its book value
  • Company has a low return on equity of 7.94% over last 3 years.
  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 6.44% of profits over last 3 years

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish2512
OscillatorsNeutral252
Moving AveragesStrong Bullish0010

Key readings

RSI (14)
60.59
Neutral
MACD (12,26,9)
−28.95
Bullish
SMA (50)
4,514.82
Bullish
SMA (200)
3,887.88
Bullish

As of

Analyst Rating

Based on 15 analysts
BUY67%

10 of 15 analysts rate Buy, 2 Hold, 3 Sell.

As of

BUY
10
67%
HOLD
2
13%
SELL
3
20%

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
5Y+13.52%
3Y−4.22%
1Y+5.47%
TTM+9.52%

Net profit

Net profit growth by window
5YTurned to profit
3Y−24.30%
1Y+5.13%
TTM−3.23%

Operating cash flow

Operating cash flow growth by window
5Y+9.30%
3Y+9.15%
1Y+76.33%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
5Y+1.47 pp
3Y−10.52 pp
1Y+0.82 pp
TTM+0.28 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2018₹3,851 Cr
Mar 2019₹2,729 Cr
Mar 2020₹2,606 Cr
Mar 2021₹2,650 Cr
Mar 2022₹3,954 Cr
Mar 2023₹5,685 Cr
Mar 2024₹4,281 Cr
Mar 2025₹4,737 Cr
Mar 2026₹4,996 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2018₹240 Cr
Mar 2019₹1,246 Cr
Mar 2020₹189 Cr
Mar 2021−₹222 Cr
Mar 2022₹776 Cr
Mar 2023₹1,323 Cr
Mar 2024₹435 Cr
Mar 2025₹546 Cr
Mar 2026₹574 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹464 Cr −4.0% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 3 Nov 2026
AI opinion · based on fundamentals
Risk high

Gujarat Fluorochemicals Ltd trades at ₹4,463.9 as of 2026-11-03 with a market cap of ₹49,385 crore. The stock commands a premium valuation at 81.04x trailing earnings and 6.27x book value, while return on equity stands at 7.25% and debt-to-equity is a modest 0.35. Compounded profit has declined 24% over three years, though the stock itself has delivered a 17% CAGR over one, three, and five-year horizons.

Bull Case 7
  • Consistent stock price CAGR of 17% across 1-year, 3-year and 5-year periods, indicating sustained investor confidence and steady wealth creation
  • Comfortable balance sheet with a debt-to-equity ratio of just 0.35, providing financial flexibility for future capacity expansion or new initiatives
  • Revenue recovery visible with TTM compounded sales growth of 10%, reversing the negative 3-year compounded sales growth of -4%
  • 5-year compounded sales growth of 14% demonstrates the company's ability to grow its topline over a longer cycle despite near-term headwinds
  • 5-year compounded profit growth of 36% reflects strong long-term earnings power even though recent years have seen a decline
  • Stock is trading roughly 10% below its 52-week high of ₹4,958.9, suggesting it has held up well relative to its peak
  • The stock has rallied approximately 53% from its 52-week low of ₹2,916.6 to ₹4,463.9, reflecting strong momentum off the bottom
Bear Case 8
  • Trailing PE of 81.04x is extremely elevated for a chemicals company, leaving little room for earnings disappointment
  • 3-year compounded profit growth of -24% signals a significant earnings decline over the medium term, which the premium valuation does not appear to reflect
  • Return on equity of 7.25% (and a 3-year average of roughly 8%) is low, especially given the stock trades at 6.27x book value — the market is pricing in a much higher return profile than currently delivered
  • TTM profit growth of 0% shows earnings have stagnated with no visible recovery yet, even as sales grew 10% in the same period
  • Dividend yield of just 0.07% and a payout of only 6.44% of profits over the last three years offers negligible income to shareholders
  • The company may be capitalizing interest costs, which could flatter reported profits and understate true borrowing expenses on the income statement
  • 5-year average ROE of 13% has deteriorated sharply to 8% in the last year, indicating declining capital efficiency
  • EPS of ₹55.08 against a share price of ₹4,463.9 underscores how much future growth is already priced in — any miss on execution could trigger a de-rating

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

12h ago

TL;DR: Gujarat Fluorochemicals delivered strong Q2FY27 results with 32% EBITDA growth and improved return ratios, reflecting operational momentum. The ₹600 crore EV battery chemicals investment signals a strategic push into high-growth segments. No material headwinds surfaced in the latest update cycle. The trend is improving, though execution on the EV capex and sustaining margin expansion will be key to watch.

Positives 3
  • EBITDA up 32% YoY Nov 03

    Consolidated EBITDA rose 32% YoY to ₹473 crore in Q2FY27, with net profit expanding to ₹240 crore.

  • ROCE improves to 17.17% Nov 03

    Return on capital employed improved to 17.17% in H1FY27, while working capital days were reduced to 152 days, signalling better capital efficiency.

  • ₹600Cr EV battery investment Nov 03

    Company plans ₹600 crore investment in GFCL EV Products Limited to expand battery chemicals capacity, positioning for the EV supply chain.

Quarterly Results

₹ Cr
FLUOROCHEM quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
1,209
947
992
1,133
1,176
1,188
1,148
1,225
1,281
1,210
1,136
1,369
1,588
1,760
Expenses
861
783
786
895
914
893
854
919
937
846
861
1,062
1,162
1,287
Operating Profit
348
164
206
238
262
295
294
306
344
364
275
307
426
473
OPM %
29%
17%
21%
21%
22%
25%
26%
25%
27%
30%
24%
22%
27%
27%
Other Income
15
13
13
18
9
9
14
26
23
6
−10
3
12
10
Interest
28
34
37
34
37
42
42
26
30
33
33
42
26
40
Depreciation
66
68
72
81
85
90
91
89
90
91
89
97
102
104
PBT
269
75
110
141
149
172
175
217
247
246
143
171
310
339
Tax %
25%
29%
27%
28%
28%
30%
28%
12%
26%
27%
29%
42%
29%
29%
Net Profit
201
53
80
101
108
121
126
191
182
179
102
100
219
240
EPS (₹)
18.3
4.82
7.28
9.19
9.83
11.02
11.47
17.39
16.57
16.29
9.29
9.38
20.12
—

Sep 2026: from the results filed on 3 Nov 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
FLUOROCHEM profit and loss, annual, ₹ crore
Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
3,851
2,729
2,606
2,650
3,954
5,685
4,281
4,737
4,996
5,303
Expenses
3,105
1,941
2,167
2,052
2,785
3,719
3,366
3,638
3,795
3,931
Operating Profit
745
788
439
598
1,168
1,965
915
1,100
1,201
1,372
OPM %
19%
29%
17%
23%
30%
35%
21%
23%
24%
26%
Other Income
112
78
190
199
161
172
100
115
111
11
Interest
279
56
105
113
78
117
133
147
138
134
Depreciation
299
164
192
202
205
236
286
355
367
379
PBT
279
645
332
482
1,045
1,785
595
713
807
870
Tax %
14%
−93%
43%
146%
26%
26%
27%
23%
29%
—
Net Profit
240
1,246
189
−222
776
1,323
435
546
574
600
EPS (₹)
—
—
17.87
−19.91
71.66
121
39.59
49.71
52.56
55.08
Div. Payout %
15%
0%
0%
0%
6%
3%
8%
6%
6%
—

Balance Sheet

₹ Cr
FLUOROCHEM balance sheet, annual, ₹ crore
Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
11
11
11
11
11
11
11
11
11
Reserves
4,756
3,499
3,705
3,482
4,244
5,510
5,925
7,242
7,855
Borrowings
2,000
968
1,718
1,591
1,556
1,515
2,096
2,080
2,721
Other Liabilities
2,986
441
634
885
1,067
1,335
1,201
1,270
1,273
Total Liabilities
9,753
4,919
6,067
5,969
6,878
8,371
9,233
10,602
11,859
Fixed Assets
3,813
2,305
2,414
2,367
2,514
3,111
4,264
4,285
4,822
CWIP
724
229
318
400
680
1,158
1,128
1,568
1,900
Investments
524
342
259
88
20
1
1
289
277
Other Assets
4,691
2,042
3,076
3,114
3,665
4,101
3,840
4,460
4,860
Total Assets
9,753
4,919
6,067
5,969
6,878
8,371
9,233
10,602
11,859

Cash Flow

₹ Cr
FLUOROCHEM cash flow, annual, ₹ crore
Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
952
782
546
616
741
739
626
545
961
Investing
589
−428
−1,152
−373
−584
−476
−966
−1,121
−1,168
Financing
−1,668
110
622
−248
−144
−264
348
599
367
Net Cash Flow
−127
464
17
−5
14
−2
7
24
160
Free Cash Flow
−64
276
−650
343
92
12
−330
−335
−292
CFO/OP
157
101
136
80
83
62
90
67
101

Ratios

FLUOROCHEM financial ratios, annual
Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
184
77
79
92
72
71
72
92
94
Inventory Days
736
351
390
404
314
375
435
487
453
Days Payable
471
127
176
202
170
174
144
162
129
Cash Conversion Cycle
449
301
293
294
216
272
363
418
417
Working Capital Days
67
22
0
6
33
62
60
97
92
ROCE %
—
11%
9%
11%
20%
30%
10%
10%
10%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Gujarat Fluorochemicals insights

63 extracted metrics across FY18–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 61.39%
  • Public 14.01%
  • DIIs 13.32%
  • Others 6.74%
  • FIIs 4.53%

7.53% of promoter holding pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Gujarat Fluorochemicals

What does Gujarat Fluorochemicals Ltd do?
Incorporated in 2018, Gujarat Fluorochemicals Limited, earlier known as Inox Fluorochemicals Limited, is a part of the INOX Group of Companies and has been demerged from GFL Ltd, into a separate legal entity.
Where is Gujarat Fluorochemicals Ltd (FLUOROCHEM) listed?
Gujarat Fluorochemicals Ltd trades as FLUOROCHEM on the NSE and under code 542812 on the BSE.
Which sector does Gujarat Fluorochemicals Ltd belong to?
Gujarat Fluorochemicals Ltd is classified under the Chemicals sector, in the Specialty Chemicals industry.
What is the PE ratio of Gujarat Fluorochemicals Ltd?
Gujarat Fluorochemicals Ltd trades at a PE ratio of 83.76 as of 4 Nov 2026, on earnings per share of ₹55.08, against a book value of ₹763.95 per share.
What is the 52-week high and low of Gujarat Fluorochemicals Ltd?
Over the last 52 weeks Gujarat Fluorochemicals Ltd has traded between ₹2,916.6 and ₹4,958.9 as of 4 Nov 2026.
Does Gujarat Fluorochemicals Ltd pay dividends?
Gujarat Fluorochemicals Ltd has a dividend yield of 0.07%.
What is the Return on Equity (ROE) of Gujarat Fluorochemicals Ltd?
Gujarat Fluorochemicals Ltd reported a return on equity of 7.82%. Its debt-to-equity ratio is 0.35.

Company Information

Incorporated in 2018, Gujarat Fluorochemicals Limited, earlier known as Inox Fluorochemicals Limited, is a part of the INOX Group of Companies and has been demerged from GFL Ltd, into a separate legal entity. It is one of the leading producers of Fluoro-polymers, Fluoro-specialities, Chemicals and Refrigerants in India. It is one of the top five global players in the fluoropolymers market with exports to Europe, Americas, Japan and Asia.

Website gfl.co.in
CEO Mr. Vivek Kumar Jain
Employees 3,405
Listed 16 Oct 2019
Face Value ₹1

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