Gujarat Fluorochemicals Limited (FLUOROCHEM)
₹4,402.90 -2.43% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Gujarat Fluorochemicals' revenue was ₹1,588 Cr (+24.0% year on year, +16.0% on the previous quarter), and net profit ₹219 Cr (+19.0% year on year); the operating margin was 27.0%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹1,588 | +24.0% | +16.0% |
| Operating profit | ₹428 | +24.4% | +39.4% |
| Net profit | ₹219 | +19.0% | +100.9% |
| EPS (₹) | 20.17 | +20.4% | +103.3% |
| Operating margin | 27.0% | — | — |
FLUOROCHEM delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 50.96% of the FLUOROCHEM shares traded on NSE were taken to delivery, against the stock's own 20-session average of 54.46%. That is close to its usual level.
Delivery in the last 5 sessions: 50.4% · 43.6% · 59.7% · 53.7% · 51.0%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Gujarat Fluorochemicals Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30th September, 2026. The certificate, issued by its Registrar and Share Transfer Agent, MUFG Intime India Private Limited, confirms that securities received for dematerialisation were processed and listed appropriately. It also certifies that physical share certificates were mutilated and cancelled within the prescribed timelines. This is a recurring administrative filing with no impact on corporate fundamentals.
- Compliance certificate submitted for the quarter ended 30th September, 2026
- Issued under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
- Certificate confirmed by RTA MUFG Intime India Private Limited on 03-10-2026
- All dematerialised securities confirmed, cancelled, and substituted within prescribed timelines
Gujarat Fluorochemicals Limited (GFCL) announced that its shareholders approved key leadership appointments at the Eighth Annual General Meeting held on September 24, 2026. Dr. Bir Kapoor has been re-appointed as Deputy Managing Director for a 3-year term effective November 3, 2026. Additionally, Mr. Niraj Kishore Agnihotri was re-appointed as Whole-time Director for 1 year starting November 11, 2026, and Mr. Jignesh Kantilal Parmar was appointed as Whole-time Director for 1 year starting August 12, 2026. These appointments provide management continuity as the company scales its high-value Fluoropolymers and LiPF6 battery materials verticals.
- Shareholder approval granted at the 8th AGM on September 24, 2026
- Dr. Bir Kapoor re-appointed as Deputy Managing Director for a 3-year term starting November 3, 2026
- Mr. Niraj Kishore Agnihotri re-appointed as Whole-time Director for 1 year from November 11, 2026
- Mr. Jignesh Kantilal Parmar appointed as Whole-time Director for 1 year effective August 12, 2026
Gujarat Fluorochemicals Limited concluded its Eighth Annual General Meeting on September 24, 2026, passing all 7 tabled ordinary resolutions with requisite majorities. Key approvals included the adoption of FY26 financial statements, declaration of final dividend for FY26, and director re-appointments/appointments. Out of a total share capital of 10,98,50,000 shares, roughly 8.59 crore votes were polled across resolutions, reflecting ~78.25% voting participation. The resolution for the declaration of final dividend was approved with near-100% of polled votes in favour.
- All 7 ordinary resolutions passed with over 99% majority support
- Final dividend for FY26 approved with 85,958,379 votes in favour (100.00% of votes polled)
- Re-appointment of Dr. Bir Kapoor as Deputy MD approved with 99.42% votes in favour
- Total voting participation stood at ~78.25% across 10,98,50,000 outstanding equity shares
- 70,211 shareholders recorded on the record date of September 17, 2026
Gujarat Fluorochemicals Limited has fixed September 17, 2026, as the record date for determining shareholder eligibility for its final dividend of Rs 3.00 per share (300% on a face value of Re 1) for FY26. The dividend is subject to approval by shareholders at the upcoming Eighth Annual General Meeting. On the current market price of Rs 4,706, this dividend payout represents a yield of under 0.1%.
- Final dividend fixed at Rs 3.00 per equity share (300% of Re 1 face value) for FY 2025-26
- Record date established as 17th September, 2026
- Dividend payment subject to approval at the Eighth Annual General Meeting
Gujarat Fluorochemicals Limited has issued the notice for its 8th Annual General Meeting scheduled for September 24, 2026. The company has fixed September 17, 2026, as the record date for determining shareholder eligibility for e-voting and payment of the proposed final dividend of ₹3.00 per share (face value ₹1). Key agenda items include the re-appointment and remuneration approval for Deputy MD Dr. Bir Kapoor (up to ₹8.00 Cr/year), WTD Mr. Niraj Kishore Agnihotri (up to ₹3.00 Cr/year), and WTD Mr. Jignesh Kantilal Parmar (up to ₹1.10 Cr/year).
- 8th Annual General Meeting scheduled for September 24, 2026, via Video Conferencing.
- Record date of September 17, 2026, fixed for eligibility of e-voting and ₹3.00/share final dividend.
- Remote e-voting window open from September 21, 2026 (9:00 AM) to September 23, 2026 (5:00 PM).
- Approval sought for Dr. Bir Kapoor's reappointment as Deputy MD for 3 years at up to ₹8.00 Cr p.a.
- Approval sought for Whole-time Directors Niraj Agnihotri (up to ₹3.00 Cr p.a.) and Jignesh Parmar (up to ₹1.10 Cr p.a.).
Gujarat Fluorochemicals Limited announced that company representatives will participate in the Ashwamedh - Elara India Dialogue 2026 investor conference on September 2, 2026, in Mumbai. The interactions will involve group and one-on-one meetings with institutional investors. The company will share its presentation on the financial results for the quarter ended June 30, 2026, and affirmed that no unpublished price sensitive information will be discussed.
- Conference participation scheduled for September 2, 2026, in Mumbai
- Format involves group and one-on-one meetings at Ashwamedh - Elara India Dialogue 2026
- Discussion based on financial results for the quarter ended June 30, 2026
- No unpublished price sensitive information (UPSI) will be shared
Gujarat Fluorochemicals Limited has issued newspaper advertisements regarding a special window for the transfer and dematerialisation of physical securities. In line with SEBI circulars, this facility is provided for physical shares transacted prior to 1st April, 2019. The window is operational for a period of one year from 5th February, 2026 to 4th February, 2027. This filing is purely administrative with no material impact on company financials.
- Special demat window operational for physical shares transacted prior to 1st April, 2019
- Facility active for a one-year period from 5th February, 2026 to 4th February, 2027
- Issued pursuant to SEBI circulars dated 2nd July, 2025 and 30th January, 2026
- Newspaper notice published on 25th August, 2026 under Regulation 30
Gujarat Fluorochemicals reported strong Q1 FY27 performance with consolidated revenue growing 24% YoY to ₹1,588 crore and PAT rising 19% YoY to ₹219 crore. Growth was led by the Fluorochemicals segment (up 52% YoY), driven by high demand for R32 refrigerants, and Fluoropolymers (up 15% YoY). Management guided for 17-20% annual growth in Fluoropolymers and confirmed that R32 capacity expansion is set for commissioning in Q2 FY27. Advanced Battery Materials are on track to achieve a three-digit revenue run rate by Q4 FY27 before a major scale-up in FY28.
- Q1 FY27 consolidated revenue grew 24% YoY to ₹1,588 crore, while EBITDA surged 24% YoY to ₹428 crore with margins expanding to 27%.
- Fluorochemicals revenue surged 52% YoY and 44% QoQ, aided by strong R32 sales, with additional capacity commissioning in Q2 FY27.
- Working capital cycle improved significantly, reducing by 43 days to 149 days as of Q1 FY27 compared to 192 days in Q4 FY26.
- ROCE improved by 258 bps to 16.6% in Q1 FY27 versus 14.0% in FY26.
- Battery Materials targeting 3-digit (₹100+ cr) quarterly revenue by Q4 FY27 with substantial ramp-up targeted in FY28.
Gujarat Fluorochemicals has released the audio recording of its Q1FY27 analyst conference call held on August 12, 2026. The call discussed the company's financial performance for the quarter, following a fiscal year (FY26) where revenue reached ‡4,889 crore with a 26.2% operating margin. This filing is a standard regulatory requirement under SEBI LODR regulations. Investors can access the recording to understand management's progress on the 25% growth target and the ramp-up of LiPF6 battery materials.
- Conference call held on August 12, 2026, at 17:00 Hrs IST to discuss Q1FY27 results
- Company maintains a TTM revenue base of ‡4,889 crore as per latest annual data
- Operating Profit Margin (OPM) remains a key metric at 26.2% for the TTM period
- Promoter holding remains stable at 61.4% as of the latest reporting cycle
- Recording link provided as per Regulation 30 of SEBI Listing Obligations
Gujarat Fluorochemicals (GFL) has scheduled its participation in the Motilal Oswal 22nd Annual Global Investor Conference on August 19, 2026, in Mumbai. The company will engage in group and one-on-one meetings to discuss its financial performance for the quarter ended June 30, 2026. GFL currently maintains a TTM revenue of Rs 4,889 crore and a market capitalization of Rs 48,683 crore. No unpublished price-sensitive information is expected to be disclosed during these sessions.
- Conference scheduled for August 19, 2026, involving group and one-on-one meetings.
- Discussion will focus on financial results for the quarter ended June 30, 2026.
- Company reported a TTM revenue of Rs 4,889 crore and TTM PAT of Rs 575 crore.
- GFL is currently trading at a P/E of 84.7 with a market cap of Rs 48,683 crore.
Gujarat Fluorochemicals (GFCL) reported a strong Q1FY27 with consolidated revenue growing 24% YoY to ₹1,588 Cr, driven by a 23% surge in the Chemical segment. Consolidated PAT rose 20% YoY to ₹219 Cr, while operational efficiency improved significantly as working capital days dropped by 43 days to 149. Notably, the new Battery Materials vertical recorded its first revenue of ₹14 Cr, although it remains EBITDA negative at -₹30 Cr during the scale-up phase. ROCE improved to 16.63% from 14.05% in FY26, reflecting better capital allocation.
- Consolidated Revenue increased 24% YoY to ₹1,588 Cr, representing ~32.5% of TTM revenue in a single quarter.
- Chemical segment PAT grew 33% YoY to ₹261 Cr, primarily driven by R32 and Fluoropolymers.
- Working capital cycle reduced by 43 days, falling from 192 days in March 2026 to 149 days.
- ROCE improved by 258 bps to 16.63% compared to the full year FY26 level of 14.05%.
- Battery Materials segment commenced commercial sales with ₹14 Cr revenue in Q1FY27.
Gujarat Fluorochemicals reported a standalone revenue of Rs 1,302 Cr for Q1 FY27, marking a 10.9% increase from Rs 1,174 Cr in the same quarter last year. Standalone Profit After Tax (PAT) rose to Rs 201 Cr from Rs 185 Cr YoY, reflecting steady operational growth. The board approved the re-appointment of Dr. Bir Kapoor as Deputy MD for three years and the appointment of Jignesh Kantilal Parmar as a Whole-time Director. The company also confirmed receiving a No Objection Letter from stock exchanges on July 9, 2026, regarding its Composite Scheme of Arrangement.
- Standalone revenue from operations grew 10.9% YoY to Rs 1,302 Cr in Q1 FY27.
- Standalone Profit After Tax (PAT) increased to Rs 201 Cr, up 8.6% from Rs 185 Cr in Q1 FY26.
- Dr. Bir Kapoor re-appointed as Deputy Managing Director for a 3-year term effective November 3, 2026.
- Incorporated two new entities: GFCL Semiconductor and Advanced Materials (June 26, 2026) and GFCL New Age Materials SAOC (June 3, 2026).
- Seven subsidiaries reported a combined net loss of Rs 42 Cr for the quarter, reflecting early-stage investments in EV and semiconductor materials.
Gujarat Fluorochemicals reported a standalone revenue of Rs 1,302 Cr for Q1 FY27, representing a 10.9% increase over Q1 FY26. Standalone PAT rose to Rs 201 Cr, up 17.5% sequentially from Q4 FY26. The company demonstrated strategic progress by investing Rs 290 Cr in its EV subsidiary and incorporating two new entities focused on semiconductors and battery chemicals. Additionally, the company received a No Objection Letter from stock exchanges for its composite scheme of arrangement involving the holding company.
- Standalone Revenue reached Rs 1,302 Cr, growing 10.9% YoY from Rs 1,174 Cr in the previous year.
- Standalone PAT stood at Rs 201 Cr, an 8.6% increase YoY and a 17.5% increase from Rs 171 Cr in Q4 FY26.
- Invested Rs 290 Cr in GFCL EV Products Limited via 0.01% Non-convertible Redeemable Preference Shares.
- Incorporated two new subsidiaries: GFCL Semiconductor and Advanced Materials Ltd and GFCL New Age Materials SAOC in June 2026.
- Received Rs 11 Cr on April 24, 2026, as a final insurance claim for PPE loss related to the 2021 fire incident.
Gujarat Fluorochemicals Limited (GFL) has scheduled its board meeting and subsequent analyst conference call for August 12, 2026, to discuss 1QFY27 financial performance. The company reported a TTM revenue of Rs 4,889 Cr and a PAT of Rs 575 Cr as of March 2026. Investors will be looking for updates on the scale-up of value-added Fluoropolymers and the LiPF6 battery materials segment, which was previously expected to contribute to revenue from Q4 FY26. The call is hosted by 360 ONE Capital Market Research at 17:00 IST.
- Board meeting to approve 1QFY27 financial results scheduled for August 12, 2026.
- Analyst/Institutional Investor conference call set for August 12, 2026, at 17:00 Hrs IST.
- Management representation includes Dr. Bir Kapoor, CEO and DMD.
- Company reported TTM revenue of Rs 4,889 Cr and OPM of 26.2% in the preceding period.
- Investor presentation to be submitted post-board meeting on the same day.
Gujarat Fluorochemicals (GFCL) has announced a physical plant visit for analysts and institutional investors on July 16 and 17, 2026. The visit focuses on the Battery Chemicals Plant of its material subsidiary, GFCL EV Products Limited, located in Dahej, Gujarat. This facility is a core component of GFCL's growth strategy, with LiPF6 battery materials expected to start contributing to revenue from Q4 FY26. The company aims for a 25% growth rate, supported by rising LiPF6 prices which have moved from $10/kg to $17/kg.
- Plant visit scheduled for July 16th and 17th, 2026, at the Jolva, Dahej facility.
- Focus is on GFCL EV Products Limited, a material subsidiary targeting the EV battery sector.
- LiPF6 battery materials are projected to impact revenue starting Q4 FY26.
- Company is targeting a 25% growth rate through value-added Fluoropolymers and battery materials.
- LiPF6 pricing has improved significantly from approximately USD 10/kg to USD 17/kg.
Financial Performance
Revenue Growth by Segment
Fluoropolymer segment revenue reached INR 764 Cr in Q2 FY26, growing 8% YoY from INR 706 Cr, though it declined 4% QoQ from INR 798 Cr. Fluorochemicals revenue was INR 258 Cr, a 15% YoY decline from INR 304 Cr and a 14.5% QoQ decline from INR 302 Cr. The chemical segment reported a PAT of INR 198 Cr, reflecting 51% YoY growth.
Geographic Revenue Split
Not explicitly disclosed by percentage, but significant exposure to the US and Europe is noted. US tariffs impacted sequential revenue in the Fluoropolymer segment by 4% and also affected R-125 sales.
Profitability Margins
EBITDA margins for Q2 FY26 stood at 32%, an improvement of 608 basis points YoY. Operating margins for the nine months ended December 31, 2024, were 23%, compared to 21.5% in the previous fiscal. Medium-term operating margins are expected to recover to 25-27%.
EBITDA Margin
32% in Q2 FY26, driven by a better product mix (high-value Fluoropolymers) and cost optimizations in power and manufacturing.
Capital Expenditure
Planned capital expenditure of approximately INR 1,400 Cr per annum for the next few fiscals, primarily targeting the new Fluoropolymer segment and EV battery chemicals.
Credit Rating & Borrowing
Reaffirmed by CRISIL. Interest coverage ratio is expected to sustain over 6 times (potentially over 8 times). Adjusted gearing is expected to remain below 0.6 times.
Operational Drivers
Raw Materials
Fluorspar, R-142b, Chloroform, Chlorine, Anhydrous Hydrogen Fluoride (AHF), and Phosphoric Acid (PPA).
Capacity Expansion
Expanding capacities for new Fluoropolymers (PVDF, FKM, PPA) and LiPF6 (Battery Materials) with targeted completion by the end of FY 2025-26.
Raw Material Costs
Integrated operations (backward integration into AHF and HCFC) reduce dependence on external sources and support healthy operating margins of 25-27%.
Manufacturing Efficiency
Integrated operations drive efficiency; capacity utilization ramp-up for new Fluoropolymers is a key monitorable for medium-term growth.
Logistics & Distribution
Transitioning to an FOB (Free On Board) model for battery chemicals to improve working capital cycles compared to the stock-and-sale model used in Fluoropolymers.
Strategic Growth
Expected Growth Rate
25%
Growth Strategy
Achieving 25% growth through the scale-up of value-added Fluoropolymers (PVDF, FKM) for the semiconductor and aerospace sectors, capitalizing on the exit of a major legacy international competitor (3M/Dyneon), and ramping up LiPF6 production for the EV battery market starting Q4 FY26.
Products & Services
PTFE, PVDF, FKM, PPA, LiPF6 (Battery Materials), R-22, R-125, R-32, Chloromethanes, and Caustic Soda.
Brand Portfolio
Gujarat Fluorochemicals Limited (GFL), GFCL EV.
New Products/Services
High-purity grades for semiconductors, aerospace, and automobiles (commenced Q2 FY26); LiPF6 battery materials expected to contribute to revenue from Q4 FY26.
Market Expansion
Targeting high-growth sectors including Semiconductors, EV Batteries, and Aerospace globally.
Market Share & Ranking
Positioned as one of the only non-China fully integrated LiPF6 producers globally.
Strategic Alliances
GFCL EV (subsidiary) raised INR 1,000 Cr in equity to fund battery chemical capex.
External Factors
Industry Trends
The Fluoroelastomers market is projected to grow at a 2.8% CAGR from 2025 to 2034, reaching USD 1.81 Billion. The industry is shifting toward high-performance polymers for EV and Semiconductor applications.
Competitive Landscape
Facing domestic competition in PTFE and international competition from Chinese producers; benefiting from the exit of a major legacy player in the US market.
Competitive Moat
Moat is sustained by deep backward integration, a wide product portfolio in PTFE, and being the only non-China integrated LiPF6 producer, which is critical for global supply chain diversification.
Macro Economic Sensitivity
Susceptible to global economic slowdowns (e.g., Europe destocking in FY24) and fluctuations in global chemical supply/price trends.
Consumer Behavior
Shift toward long-term contract business for battery materials to ensure supply security.
Geopolitical Risks
Trade barriers such as US tariffs on R-125 and Fluoropolymers; impact of Chinese dumping on global realizations.
Regulatory & Governance
Industry Regulations
DGTR has recommended Anti-Dumping Duty (ADD) on PTFE imports to India. R-22 sales are subject to regulatory quota reductions.
Risk Analysis
Key Uncertainties
Persistence of US tariffs and the speed of qualification/ramp-up for new-age Fluoropolymers in the semiconductor and EV sectors.
Geographic Concentration Risk
Significant revenue exposure to the US and Europe makes the company sensitive to regional trade policies and economic cycles.
Third Party Dependencies
Low dependency on third-party raw material suppliers due to high levels of backward integration.
Technology Obsolescence Risk
Mitigated by R&D focus on high-purity grades for emerging technologies like 5G, Semicon, and EVs.
Credit & Counterparty Risk
Strong financial risk profile with cash accruals of over INR 1,000 Cr per annum and liquid investments of INR 933 Cr.
