Gujarat Fluorochemicals Limited (FLUOROCHEM)

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Gujarat Fluorochemicals Limited (FLUOROCHEM) · mywealthgrid

About

Specialty chemicals company in Materials sector. Market cap ₹52k Cr with quarterly revenue of ₹1.1–1.6 Cr and net profit of ₹102–219 Cr. Operating margins average 25.84%. Promoter-led with 61% ownership.

Founded: 1987
Face value: ₹1

Market cap

₹47,713 Cr

P/E

77.6×

P/B

6.1×

Dividend yield

0.1%

ROE

7.6%

ROCE

11.1%

Debt / equity

0.28

OPM

25.8%

EPS (TTM)

₹55.9

Book value

₹715.1

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

PE of 84.66 leaves minimal margin for error; verify earnings growth justifies multiple
Net profit swings 102–219 Cr despite stable 22–32% OPM indicates revenue lumpiness; verify drivers
ROE 7.65% low vs OPM 25.84% suggests capital inefficiency; verify source
Specialty chemicals exposure to industrial capex cycles; verify end-market concentration and demand visibility

Generated analysis · source review pending

Growth drivers

Operating margins 25–28% (avg 25.84%) provide leverage if revenue scales; verify end-market demand and capacity
Regular dividends (2022–2026) indicate cash generation; verify free cash flow and capex plans for self-funded growth
52-week gain from ₹2,980 to ₹4,737.8 (31.9% return) signals renewed confidence; verify if earnings-driven or valuation re-rating
Quarterly revenue ₹1.1–1.6 Cr range suggests potential volume or mix shifts; verify product portfolio and scaling constraints

Generated analysis · source review pending

1,718 historical price candles were omitted because the exchange source has not been verified.

₹4,341.5-1.5%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 25.8%
+High promoter holding of 61.4% with no pledge

Cons

−Low return on equity of 7.8% (3-yr avg)
−Profit declined 24.2% a year over the last 3 years
−Expensive at 77.6× trailing earnings
−Low dividend payout of 10.7% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

34/100

Business quality: 46
Growth: 41
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MIDCAP 150 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,729	2,606	2,651	3,954	5,685	4,281	4,737	4,996
COGS	956	851	856	1,187	1,542	1,421	1,480	1,642
Gross profit	1,773	1,755	1,795	2,766	4,142	2,860	3,257	3,354
	985	1,284	1,122	1,569	2,095	1,905	2,100	2,064
	788	472	673	1,198	2,047	955	1,157	1,290
OPM %	28.9%	18.1%	25.4%	30.3%	36%	22.3%	24.4%	25.8%
Depreciation	164	192	202	205	236	286	355	367
Interest	56	105	113	78	117	133	147	138
	78	158	124	131	90	60	58	22
Profit before tax	645	332	482	1,045	1,785	595	713	807
Tax	-601	143	704	269	462	160	167	233
Tax %	-93.1%	43%	145.9%	25.8%	25.9%	26.9%	23.4%	28.9%
	1,246	189	-222	776	1,323	435	546	574
PAT margin %	45.7%	7.3%	-8.4%	19.6%	23.3%	10.2%	11.5%	11.5%
EPS (₹)	—	17.2	-20.2	70.6	120.4	39.6	49.7	52.3
EPS adjusted (₹)	113.6	17.9	-19.9	70.6	120.9	39.6	49.6	52.6
	—	0%	—	5.7%	3.3%	7.6%	6%	5.7%
Annual report	—	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	11	11	11	11	11	11	11	11
Reserves	3,499	3,705	3,482	4,244	5,510	5,925	7,242	7,855
Minority interest	—	—	—	—	—	—	46	47
	890	1,520	1,410	1,405	1,478	1,996	1,988	2,199
	518	831	1,065	1,218	1,372	1,302	1,322	1,771
Total equity & liabilities	4,919	6,067	5,969	6,878	8,371	9,234	10,609	11,883
	2,295	2,353	2,308	2,461	3,108	4,261	4,282	4,821
CWIP	229	318	400	680	1,142	1,091	1,524	1,890
Investments	1	68	98	26	4	4	293	278
	2,394	3,328	3,163	3,711	4,117	3,878	4,510	4,894
Total assets	4,919	6,067	5,969	6,878	8,371	9,234	10,609	11,883

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Chemicals	5,030	1,069	9,090	2,777	6,313	16.93
EV Products	33	-104

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	65%	67.3%	67.7%	70%	72.9%	66.8%	68.8%	67.1%
EBITDA margin %	28.9%	18.1%	25.4%	30.3%	36%	22.3%	24.4%	25.8%
EBIT margin %	22.9%	10.7%	17.8%	25.1%	31.9%	15.6%	16.9%	18.5%
PAT margin %	45.7%	7.3%	-8.4%	19.6%	23.3%	10.2%	11.5%	11.5%
Working capital
Receivable days	77	79	92	72	71	72	92	94
Inventory days	245	349	368	291	352	404	449	430
Payable days	0	0	144	158	164	133	149	123
NWC days	322	427	316	205	259	342	392	401
Leverage
Current ratio	—	—	1.06	1.28	1.48	1.36	1.7	1.72
Debt to EBITDA	1.13	3.22	2.1	1.17	0.72	2.09	1.72	1.7
Debt to equity	0.25	0.41	0.4	0.33	0.27	0.34	0.27	0.28
Interest coverage	12.6	4.4	5.3	14.3	16.3	5.5	5.9	7
Asset turnover	0.55	0.43	0.44	0.57	0.68	0.46	0.45	0.42
Return ratios
Return on assets %	25.3%	3.1%	-3.7%	11.3%	15.8%	4.7%	5.1%	4.8%
Return on capital employed %	15.1%	8.9%	12%	24.6%	34.6%	11.4%	11.6%	11.1%
Return on equity %	35.5%	5.1%	-6.3%	18.2%	24%	7.3%	7.5%	7.3%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	63.81%	63.81%	63.81%	62.58%	62.58%	62.58%	62.58%	62.58%	61.39%	61.39%	61.39%	61.39%
	4.82%	4.58%	4.51%	5.2%	4.88%	4.61%	4.63%	4.25%	4.36%	4.31%	4.28%	4.41%
	7.71%	8.62%	8.79%	9.62%	9.58%	10.05%	10.74%	11.48%	12.73%	12.82%	13.49%	13.33%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	23.66%	22.99%	22.89%	22.6%	22.96%	22.76%	22.05%	21.69%	21.52%	21.48%	20.84%	20.87%
No. of shareholders	—	—	—	—	—	—	—	—	66,493	64,664	62,703	61,120

Promoter holding down 2.42 percentage points since Sep 2023.

1 disclosure

Person	Deal	Shares	Value	Holding	Filed
Devansh Trademart LLPPromoter Group	SellMarket Sale	13,00,000	₹455.97 cr	4.83% → 3.65%	18 Sept 20257(2)

Disclosed under SEBI’s insider-trading regulations, which require a filing only above ₹10 lakh in a quarter — smaller dealings are in no disclosure. Holdings are the filer’s own percentages, not recomputed.

37 deals · 20 Sept 2021 – 17 Sept 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
17 Sept 2025	DEVANSH TRADEMART LLP	Bulk	NSE	Sell	13,00,000	₹3,539.30	₹460.11 Cr
13 Nov 2024	SOMANY IMPRESA LIMITED	Block	BSE	Sell	26,000	₹4,000.00	₹10.40 Cr
13 Nov 2024	SHASHVAT SOMANY	Block	BSE	Buy	26,000	₹4,000.00	₹10.40 Cr
13 Nov 2024	SANDIP SOMANY	Block	BSE	Buy	26,000	₹4,000.00	₹10.40 Cr
21 Jun 2024	DEVANSH TRADEMART LLP	Bulk	NSE	Sell	12,50,000	₹3,317.32	₹414.67 Cr
5 Dec 2022	INOX LEASING AND FINANCE LIMITED	Bulk	NSE	Sell	18,00,000	₹3,275.44	₹589.58 Cr
14 Nov 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	BSE	Buy	34,621	₹3,643.20	₹12.61 Cr
14 Nov 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	BSE	Sell	34,621	₹3,643.20	₹12.61 Cr
3 Nov 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	NSE	Buy	34,622	₹3,925.75	₹13.59 Cr
3 Nov 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	NSE	Sell	34,622	₹3,925.75	₹13.59 Cr

1–10 of 37

1 / 4

Mr. Vivek Kumar JainExecutive Director-Chairperson related to Promoter-MD
Mr. Bir KapoorExecutive Director-MD
Mr. Shailendra SwarupNon-Executive - Independent Director
Mr. Shanti Prasad JainNon-Executive - Independent Director
Mr. Om Prakash LohiaNon-Executive - Independent Director
Mr. Chandra Prakash JainNon-Executive - Independent Director
Ms. Vanita BhargavaNon-Executive - Independent Director
Mr. Niraj Kishore AgnihotriExecutive Director
Mr. Shesh Narayan PandeyExecutive Director
Mr. Akhil JindalGroup Chief Financial Officer
Mr. Manoj AgrawalChief Financial Officer

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F&O

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 14 fund houses

Held by these funds

4.79%

of the company's equity

All mutual funds

9.1%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

60 schemes · 14 fund houses

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	18.28 L	857.97	4.26%	1.663%	-25,570
Growth Mid Cap FundNEW	Nippon India Mutual Fund	6.05 L	283.96	0.54%	0.551%	—
Small Cap Fund	Axis Mutual Fund	4.68 L	219.8	0.7%	0.426%	-0
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	4.68 L	219.68	4.28%	0.426%	-25,000
MID CAP FUND	Tata Mutual Fund	2.5 L	117.34	1.88%	0.227%	-0
Multi Cap FundNEW	ICICI Prudential Mutual Fund	1.97 L	92.53	0.47%	0.179%	—
Mid Cap FundNEW	ICICI Prudential Mutual Fund	1.9 L	88.96	1.06%	0.172%	—
Franklin India Mid Cap Fund (Formerly known as Franklin India Prima Fund) ^NEW	Franklin Templeton Mutual Fund	1.4 L	65.71	0.5%	0.127%	—

1–8 of 60

1 / 8

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

7

Final dividend17 Sept 2026 · ex-date₹3
Final dividend22 Sept 2025 · ex-date₹3
Final dividend20 Sept 2024 · ex-date₹3
Final dividend22 Sept 2023 · ex-date₹2
Interim dividend31 Oct 2022 · ex-date₹2
Final dividend21 Sept 2022 · ex-date₹2
Interim dividend31 Mar 2022 · ex-date₹2

1

Board meeting to consider results12 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

101 announcementsExport CSV

25 Aug 2026, 5:33 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	65%	67.3%	67.7%	70%	72.9%	66.8%	68.8%	67.1%
EBITDA margin %	28.9%	18.1%	25.4%	30.3%	36%	22.3%	24.4%	25.8%
EBIT margin %	22.9%	10.7%	17.8%	25.1%	31.9%	15.6%	16.9%	18.5%
PAT margin %	45.7%	7.3%	-8.4%	19.6%	23.3%	10.2%	11.5%	11.5%
Working capital
Receivable days	77	79	92	72	71	72	92	94
Inventory days	245	349	368	291	352	404	449	430
Payable days	0	0	144	158	164	133	149	123
NWC days	322	427	316	205	259	342	392	401
Leverage
Current ratio	—	—	1.06	1.28	1.48	1.36	1.7	1.72
Debt to EBITDA	1.13	3.22	2.1	1.17	0.72	2.09	1.72	1.7
Debt to equity	0.25	0.41	0.4	0.33	0.27	0.34	0.27	0.28
Interest coverage	12.6	4.4	5.3	14.3	16.3	5.5	5.9	7
Asset turnover	0.55	0.43	0.44	0.57	0.68	0.46	0.45	0.42
Return ratios
Return on assets %	25.3%	3.1%	-3.7%	11.3%	15.8%	4.7%	5.1%	4.8%
Return on capital employed %	15.1%	8.9%	12%	24.6%	34.6%	11.4%	11.6%	11.1%
Return on equity %	35.5%	5.1%	-6.3%	18.2%	24%	7.3%	7.5%	7.3%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Gujarat Fluorochemicals LimitedFLUOROCHEMFLUOROCHEM	₹47,713 Cr	₹49,912 Cr	₹5,303 Cr	₹1,375 Cr	25.8%	₹615 Cr	11.5%	11.1%	7.6%	401
Navin Fluorine International LimitedNAVINFLUORNAVINFLUOR	₹41,740 Cr	₹42,967 Cr	₹3,634 Cr	₹1,232 Cr	32.6%	₹790 Cr	20%	21.6%	20.1%	61
Aether Industries LimitedAETHERAETHER	₹22,161 Cr	₹22,603 Cr	₹1,224 Cr	₹384 Cr	31.3%	₹235 Cr	19.8%	13.2%	9.4%	330
Atul LimitedATULATUL	₹17,231 Cr	₹17,411 Cr	₹6,643 Cr	₹1,189 Cr	16.4%	₹704 Cr	11%	14.1%	11.5%	70
Aarti Industries LimitedAARTIINDAARTIIND	₹16,869 Cr	₹21,790 Cr	₹9,012 Cr	₹1,337 Cr	14.1%	₹531 Cr	5.1%	8.8%	7.3%	54
Fine Organic Industries LimitedFINEORGFINEORG	₹15,752 Cr	₹15,797 Cr	₹2,472 Cr	₹535 Cr	20.4%	₹438 Cr	17.6%	21.6%	16.8%	113
Basf India LimitedBASFBASF	₹14,796 Cr	₹14,796 Cr	₹16,177 Cr	₹952 Cr	4.4%	₹643 Cr	2.8%	14%	11.1%	40
Privi Speciality Chemicals LimitedPRIVISCLPRIVISCL	₹13,970 Cr	₹14,980 Cr	₹2,671 Cr	₹666 Cr	25.2%	₹342 Cr	12.4%	27.7%	25.2%	158
Sudeep Pharma LimitedSUDEEPPHRMSUDEEPPHRM	₹13,546 Cr	₹13,694 Cr	₹676 Cr	₹233 Cr	34.6%	₹133 Cr	27.1%	31.1%	25.2%	366
Anupam Rasayan India LimitedANURASANURAS	₹13,243 Cr	₹15,058 Cr	₹2,535 Cr	₹563 Cr	22.2%	₹175 Cr	9.4%	9.1%	5.5%	377
Vinati Organics LimitedVINATIORGAVINATIORGA	₹12,528 Cr	₹12,528 Cr	₹2,381 Cr	₹665 Cr	29.4%	₹448 Cr	19.9%	18.8%	14.9%	152
Elantas Beck India LimitedELANTASELANTAS	₹10,644 Cr	₹10,644 Cr	₹778 Cr	₹147 Cr	20.3%	₹136 Cr	17.4%	20.6%	15.8%	70

Date	Category	Subject	Filing
25 Aug 2026, 5:33 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
19 Aug 2026, 3:26 pm	Company Update Earnings Call Transcript	Announcement under Regulation 30 (LODR)-Earnings Call Transcript	PDF
12 Aug 2026, 7:18 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome	PDF
13 Jul 2026, 12:24 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
10 Jul 2026, 12:50 pm	Company Update Scheme of Arrangement	Announcement under Regulation 30 (LODR)-Scheme of Arrangement	PDF
6 Jul 2026, 1:17 pm	Company Update Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	PDF
29 Jun 2026, 12:31 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
26 Jun 2026, 5:50 pm	Company Update Acquisition	Announcement under Regulation 30 (LODR)-Acquisition	PDF

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	782	546	616	741	739	626	545	961
	-428	-1,192	-373	-584	-476	-966	-1,120	-1,168
	110	622	-248	-144	-264	348	599	367
Net cash flow	464	-24	-5	14	-2	7	24	160
Free cash flow	—	—	343	67	64	-329	-274	-245
CFO / Operating profit %	99.2%	115.9%	91.6%	61.9%	36.1%	65.6%	47.1%	74.4%

Gujarat Fluorochemicals Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

7

1

Announcements

7

1

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Chemicals · revenue

Gujarat Fluorochemicals Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Dividends7

Board meetings1

Announcements

Dividends7

Board meetings1

Ratio timeline

Not in the F&O segment

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Chemicals · revenue

7

1

7

1