History

_x000D_ Navin Fluorine International Ltd. was listed in September 2003. In 1967, the company established the first Integrated Fluorochemicals complex in South East Asia (excluding Japan) to produce HF, refrigerant gases, and a range of inorganic fluorides at Surat. In 1978, the company set up a facility at Dewas to produce Alkylated Anilines. In 1999, the company commenced the manufacturing of organic and inorganic Specialty Fluoride at Surat. _x000D_ _x000D_ In 2000, the Surat plant also started producing the Fluorobenzene and Benzotrifluoride series. In the following year, they set up the first large-scale plant in South East Asia for the production of Boron Trifluoride Gas at Surat. They also commissioned a Trifluoroethanol plant in 2005 and a CDM plant in 2007. In 2008, the Navin Research Innovation Centre (NRIC) was inaugurated in Surat. _x000D_ _x000D_ In 2011, a CGMP plant was commissioned in Dewas. In 2016, the company formed an agreement with Honeywell to work on the latest generation of refrigerant gas, named HFO-1234yf. In FY 2021, the company commissioned a new plant for fluorine-related Contract Research and Manufacturing Services (CRAMS). In 2022-23, the High-Performance Products (HPP) business commenced plant operations at Dahej Unit. The Specialty Chemicals business also commenced its operations at the Dahej Unit to supply certain fluorine-based agri-intermediates._x000D_

Business Segments

_x000D_ The company primarily has 3 business verticals:_x000D_

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1. Specialty Chemicals Business - This vertical is further divided into the Crop Science and Performance Material sectors. It brought in ₹743 crore of revenue, i.e. 36% of the total revenue in FY 2022-23.
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2. CDMO (Contract Development and Manufacturing Organisation) Business - This vertical provides pharmaceutical products to major pharma companies trying to outsource clinical and commercial products. This segment brought in 21% of the total revenue in FY 2022-23.
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3. High-Performance Products Business - This involves the production of a wide variety of chemicals such as Hydrofluoroolefins (HFO), inorganic fluorides such as ammonium bi-fluoride, potassium fluoride, sodium fluoride, etc. This segment brought in 43% of the company’s revenue in FY 2022-23.
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_x000D_ Subsidiaries_x000D_ _x000D_ The Company has a total of 6 subsidiaries and 1 joint venture. Some of the major subsidiaries include:_x000D_

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1. Manchester Organics Limited (MOL) - Navin Fluorine owns 100% of this specialized chemicals research company in Runcorn, U.K.
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2. Navin Fluorine (Shanghai) Co. Ltd. - It is a wholly owned foreign enterprise incorporated in order to have a strategic presence closer to the source of key raw materials for the company’s specialty and CDMO business.
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3. Navin Fluorine Advanced Sciences Limited (NFASL) - Assets capitalised in NFASL include capitalisation for plant supplying HFOs to Honeywell, and specialty chemical plants to supply fluorine-based agr-intermediates.
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Key Personnel

_x000D_ Mr. Radhesh R. Welling, Managing Director_x000D_ _x000D_ Shri Radhesh Welling has worked for over 22 years in various roles, ranging from innovation to sales and marketing as well as Corporate Strategy. This includes experience across multiple geographies. In his previous role, he was the CEO and Executive Director of Laxmi Organic Industries Ltd., a specialty chemicals company. Before that, he had worked with J.M. Huber Corporation for 8 years, mostly out of their headquarters in Atlanta, USA._x000D_

Corporate Actions

_x000D_ The company conducted the following corporate actions:_x000D_ _x000D_ Stock Split_x000D_ _x000D_ The company split its stock from the face value of ₹10 to ₹2 per share with a record date of July 20, 2017._x000D_ _x000D_ Mergers and Acquisitions_x000D_

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• In 2011, the company completed the acquisition of Manchester Organics Limited, UK.
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• In 2019, a 100% subsidiary, NFIL (UK) Ltd was formed in the UK in order to acquire the balance shareholding of 49% from the shareholders of Manchester Organics Ltd.
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