Three companies in India make fluorine chemicals at scale, and all three are listed: SRF, Navin Fluorine and Gujarat Fluorochemicals. Fluorine is the most reactive element there is, and handling it in a factory is what the three have in common. Almost everything else about them is different.
| Co. | Fluorine products | Share of the company | Everything else |
|---|---|---|---|
| Navin Fluorine | Refrigerant gases, mainly R32 · Ingredients for crop-protection and drug makers · Contract manufacturing for pharma companies | All of it — fluorine and nothing else | None |
| Gujarat Fluorochemicals | PTFE and other fluoropolymers — India’s largest PTFE maker · Refrigerant gases R32 and R22 | Most of it | Caustic soda and chloroform · A battery-materials subsidiary, loss-making |
| SRF | Refrigerant gases, fluoropolymers, and made-to-order ingredients for crop-protection and drug makers | Chemicals, which holds the fluorine business, is 49% of revenue and 75% of segment profit (FY26) | Packaging film and foil · Tyre cord and belting fabric |
| Co. | Revenue ₹ cr | Operating margin | 5-yr growth | Return on capital |
|---|---|---|---|---|
| SRF | 15,787 | 22% | 13% | 14% |
| Gujarat Fluorochemicals | 4,996 | 26% | 14% | 10% |
| Navin Fluorine | 3,314 | 33% | 23% | 21% |
FY26, for the whole company — SRF’s figures include its film and textile businesses, and Gujarat Fluorochemicals’ include the battery subsidiary. Growth is the average yearly rise in revenue over the five years to FY26. Each company’s price and valuation are on its own page.
A sector, read end to end, and the companies as they are published. Roughly monthly. Nothing else, and one click to stop.
Not advice. No target prices, no ratings. Descriptions are drawn from each company’s own page here; every figure in the table is FY26, from the annual accounts, and moves when results are loaded.