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ICICI Securities Report
Gujarat Fluorochemicals Ltd.’s Q4 FY22 Ebitda came in at Rs 3.3 billion, up 3.9% QoQ / 70% YoY despite incident in Ranjith Nagar plant and unplanned shutdown at the tetra fluoro ethylene facility.
Gujarat Fluorochemicals has outlined strong growth outlook for FY23:
R125 and R142B to potentially add 10-11 kilo tonnes per annum to sales quantity from nil in FY22;
benefit of 15-20% price increase in poly tetra fluoro ethylene flow-through;
new fluoropolymers – expansion in capacity from 8.4 ktpa to 13.2 ktpa, and higher sales in more profitable products (FKM and PVDF) and likely double-digit price increase; and
new plant commissioning in fluoro specialty segment, and rise in utilisation.
Company will start its battery chemicals plant in FY23, and some revenues are likely to flow in from FY24. It has increased capex outlay by 10% for the next two years on anticipation of a favorable market.
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