Every listed Indian specialty chemicals company covered here — Navin Fluorine, Aarti, Acutaas, Aether, Deepak Nitrite, PI Industries, SRF — against Gujarat Fluorochemicals, on the same numbers from the same filings. Click a column to rank by it. Tick up to three and press Compare for the full side-by-side.
| Company | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | ₹75.2k Cr | 41.0× | 7.4% | 21.6% | 14.1% | 1.6× | 0.4× | -12.9% | |
| vs | 2Gujarat Fluorochemicals | ₹49.3k Cr | 87.8× | 5.5% | 25.8% | 9.7% | 1.4× | 0.3× | 15.4% |
| 3 | ₹43.3k Cr | 65.2× | 41.1% | 32.6% | 21.2% | 1.8× | 0.3× | 79.0% | |
| 4 | ₹36.6k Cr | 27.7× | -15.8% | 25.8% | 15.9% | 0.8× | 0.0× | -34.3% | |
| 5 | ₹26.3k Cr | 73.9× | 33.0% | 35.9% | 32.3% | 1.0× | 0.0× | 120.1% | |
| 6 | ₹22.0k Cr | 40.0× | -4.8% | 12.5% | 11.4% | 1.0× | 0.3× | -10.9% | |
| 7 | ₹21.8k Cr | 99.4× | 38.3% | 31.3% | 11.6% | 0.5× | 0.2× | 118.7% | |
| 8 | ₹18.0k Cr | 42.9× | 14.0% | 14.1% | 6.9% | 2.8× | 0.8× | 27.3% |
Market cap, P/E and the 12-month return move with the market and are dated to the last close. Every other column is the last full financial year. n/m — loss-making, so the multiple means nothing. A dash means not recorded, which is not the same as nil.
| Metric | FLUOROCHEM | NAVINFLUOR |
|---|---|---|
| What you pay22 Sept 2026 | ||
| Share price | ₹4,487.20 | ₹8,438.00 |
| Market cap | ₹49,269 Cr | ₹43,287 Cr |
| P/E | 87.82× | 65.24× |
| P/B | 6.26× | 10.89× |
| P/S | 9.86× | 13.06× |
| 12-month return | 15.4% | 79.0% |
| SizeFY26 | ||
| Revenue | ₹4,996 Cr | ₹3,314 Cr |
| PAT | ₹561 Cr | ₹664 Cr |
| Net worth | ₹7,866 Cr | ₹3,975 Cr |
| Gross block | ₹4,831 Cr | ₹3,324 Cr |
| GrowthFY26 | ||
| Revenue growth | 5.5% | 41.1% |
| Revenue CAGR (3y) | -4.2% | 16.8% |
| PAT CAGR (3y) | -25.0% | 20.9% |
| What it keepsFY26 | ||
| EBITDA margin | 25.8% | 32.6% |
| PAT margin | 11.2% | 20.0% |
| ROCE | 9.7% | 21.2% |
| ROE | 7.1% | 16.7% |
| CFO / PAT (3y) | 1.38× | 1.81× |
| What it owesFY26 | ||
| Net debt | ₹1,940 Cr | ₹1,175 Cr |
| Debt / equity | 0.29× | 0.32× |
| CWIP | ₹1,890 Cr | ₹143 Cr |
| Debtor days | 94 days | 83 days |
| Who owns itFY26 | ||
| Promoter holding | 61.4% | 27.1% |
| Institutional holding | 17.7% | 52.2% |
Every figure comes from the same filings the company pages are built from. A dash means the figure is not recorded, which is not the same as nil.
Gujarat Fluorochemicals makes fluoropolymers led by PTFE, where it is India's largest producer, refrigerant gases including R32 and R22, and bulk chemicals such as caustic soda and chloroform — three plants in Gujarat and a fluorspar mine in Morocco. Alongside sits GFCL EV Products, making lithium battery materials. The June quarter shows how the two relate: the chemical segment earned ₹261 crore of profit and consolidated profit was ₹219 crore, the ₹42 crore difference being the battery business's loss, which is widening.
Navin turns hydrofluoric acid into three different kinds of product, and the split matters more than the total: high-performance products, mainly the refrigerant R32, at ₹540 crore in the June quarter; specialty chemicals, largely intermediates for agrochemical and pharmaceutical innovators, at ₹325 crore; and contract manufacturing for pharma at ₹180 crore. Together ₹1,045 crore, up 44%. Operating margin was 34.2% in the quarter and return on capital nearly doubled to 21.2%. It has been handling fluorine since 1967.
Its own, and the spending runs a long way ahead of anything earned back. No acquisitions; gross block rose 12.7% to ₹4,831 crore with a further ₹1,890 crore in construction earning nothing, and management expects about ₹1,200 crore still uncapitalised at the end of FY27. The programme is ₹6,000 crore to FY28 — R32 capacity, an R134a brownfield, anhydrous hydrogen fluoride for captive use, and continuous fluoropolymer debottlenecking.
Built, not bought, and expensively. No acquisitions; gross block rose 21% to ₹3,324 crore with ₹1,235 crore of cash going out through investing. The projects are named and dated: a ₹288 crore cGMP4 block for contract manufacturing with phase two initiated in August 2026 for completion by March 2027, HFC capacity equal to 15,000 tonnes of R32 due in the December quarter, Dahej debottlenecking on the same timetable, and a ₹90 crore advanced materials plant.
Control sits with one man, and the company is one piece of a larger listed group. Vivek Jain is chairman and managing director, and the accounts name him the ultimate controlling party, with Dr Bir Kapoor deputy managing director. Independents chair both the audit and the remuneration committees. The holding company is Inox Leasing and Finance, and Gujarat Fluorochemicals sits in the INOXGFL group beside the listed Inox Wind and Inox Green Energy Services.
A fourth-generation industrial family holding about a quarter of the company and running it with hired professionals. Vishad Mafatlal is executive chairman, but Nitin Kulkarni as managing director and Anish Ganatra as chief financial officer were both recruited rather than born into it. The board runs to eleven with six independents, and Price Waterhouse signed FY26 without qualification. Where the trust question bites is small and worth naming: a relative of the chairman joined the payroll in August 2025.
A US$216 million battery plant in Oman has been put on hold and relocated to India — and the roughly ₹1,200 crore of sovereign-fund financing approved for it does not travel with it.
Gujarat Fluorochemicals management · Q1 FY27
About ₹1,200 crore of capital work is expected to be still uncapitalised at the end of FY27.
Gujarat Fluorochemicals management · Q1 FY27
Phase two of the cGMP4 block, ₹125 crore, was initiated in August 2026 for completion by March 2027.
Navin Fluorine management · Q1 FY27
Additional HFC capacity equivalent to 15,000 tonnes of R32 is due in the December 2026 quarter.
Navin Fluorine management · Q1 FY27
Closing prices to 22 Sept 2026, adjusted for bonuses and splits. Dividends are not counted. This is what happened, not what will.
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