# Gujarat Fluorochemicals (FLUOROCHEM) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/fluorochem

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹4,700
- Change: -0.20%
- As of: 2026-11-06
- 1D return: -0.20%
- 5D return: +10.64%
- 1M return: +5.85%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

FLUOROCHEM is trading at ₹4,700.00 on 2026-11-06, maintaining a bullish structure across daily, weekly, and monthly timeframes with price positioned above all key moving averages and the Supertrend indicator. The stock sits near the upper end of its recent ranges (+94.3% in the 20-day range), reflecting strong momentum but also heightened sensitivity to pullbacks. Recent activity shows mixed signals: a moderate downward gap on 2026-11-06 (-0.2%) contrasts with significant volume-backed gains on 2026-11-03 (+3.2%, volume ratio 3.16) and a wide intraday range on 2026-11-04 (+6.0%). Trend strength is established on weekly (ADX 30.41) and monthly (ADX 29.12) charts, while the daily trend is developing (ADX 21.17). Immediate support lies at the pivot level of ₹4,679.03 (-0.45%), with resistance overhead at ₹4,767.67 (+1.44%). Annualized volatility stands at +30.6%, indicating active trading conditions.

- Trend Structure: Bullish alignment across daily, weekly, and monthly horizons; price remains above all supplied moving averages and Supertrend indicators.
- Range Position: Trading near the top of short-term ranges (+94.3% in 20-day range), suggesting potential for consolidation or reversal if support fails.
- Recent Volatility: Moderate downward gap on 2026-11-06 follows high-volume upward moves on 2026-11-03 and wide-range action on 2026-11-04.
- Key Levels: Support at ₹4,679.03 (pivot); Resistance at ₹4,767.67 (+1.44%). A break below ₹4,679.03 would weaken the immediate daily setup.

- Bullish Engulfing Reversal
- Inside Bar

### News Context

On November 4, 2026, Prabhudas Lilladher issued a 'Hold' recommendation for Gujarat Fluorochemicals, assigning a price target of ₹4,548. This analyst view was reported by Moneycontrol on the same date. The guidance reflects an external assessment of the company's valuation and near-term prospects, suggesting that current market pricing aligns with expected performance without indicating immediate upside or downside momentum. Investors should note that this is a third-party opinion and not a factual corporate announcement or internal management directive.

- Prabhudas Lilladher assigned a 'Hold' rating to Gujarat Fluorochemicals on November 4, 2026.
- The broker set a specific price target of ₹4,548 for the stock.
- This recommendation represents an external analyst view and does not constitute a corporate filing or operational update.

- [Hold Gujarat Fluorochemicals; target of Rs 4548: Prabhudas Lilladher](https://www.moneycontrol.com/news/business/stocks/hold-gujarat-fluorochemicals-target-of-rs-4548-prabhudas-lilladher-14068950.html)

### Official Filings

Gujarat Fluorochemicals Limited (FLUOROCHEM) reported strong financial performance for Q2 and H1 FY27, with consolidated revenue rising 45% year-on-year to ₹1,760 crore in the quarter. Profit after tax grew 42% to ₹240 crore, supported by a 42% increase in Chemical segment revenue to ₹1,723 crore. The company also announced a significant strategic expansion: its Board approved an agreement to acquire GFCL EV Products Limited for INR 6,000 million in cash. This Related Party Transaction aims to fund capital expenditure and operational requirements for battery chemicals and electric vehicle solutions, with completion expected during FY 2026-27. Operational updates indicate LiPF6 sales are ramping up with five major global electrolyte players, while commercial PVDF/PTFE supplies and R134a production are scheduled to commence in Q4 FY27.

- Q2 FY27 Consolidated Revenue: ₹1,760 Crore (+45% YoY); PAT: ₹240 Crore (+42% YoY).
- Acquisition of GFCL EV Products Limited: Board-approved for INR 6,000 Million cash; classified as a Related Party Transaction; completion targeted for FY 2026-27.
- Operational Milestones: LiPF6 sales ramping with five global electrolyte players; LFP plant samples in qualification phase; commercial PVDF/PTFE and R134a production expected from Q4 FY27.

- [Gujarat Fluorochemicals Limited has informed the Exchange regarding Acquisition (including agreement to acquire) |SUBJECT: Acquisition (including agreement to acquire)-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_17611_WebXMLFile_20261104_184128396.xml)
- [Gujarat Fluorochemicals Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_03112026141153_GFCL_Financial_Results.pdf)
- [Gujarat Fluorochemicals Limited has informed the Exchange regarding Outcome of Board Meeting held on November 03, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_03112026141707_GFCL__Outcome.pdf)
- [Gujarat Fluorochemicals Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_03112026150748_GFCL_Investor_Presentation_3November2026.pdf)
- [Gujarat Fluorochemicals Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_03112026182922_GFCL__Audio_Recording.pdf)
- [Gujarat Fluorochemicals Limited has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17611_WebXMLFile_20261103_183413718.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1752268_03112026085842_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1752275_03112026090315_WEB.xml)
- [Financial Results |Meeting Date: 03-Nov-2026](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_27102026104021_GFCL_BM_Intimation_26October2026.pdf)
- [Gujarat Fluorochemicals Limited has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17611_WebXMLFile_20261027_183956696.xml)

### Fundamentals

Gujarat Fluorochemicals demonstrates a strong operational recovery in the first half of FY2026-27, with sequential revenue growth accelerating from ₹1,600 crore in Q1 to ₹1,770 crore in Q2. Net profit followed suit, rising from ₹219 crore to ₹240 crore, supported by an expansion in operating margins as expenses grew at a slower pace than income. This quarterly momentum aligns with the trailing twelve-month (TTM) sales growth of 20% and a TTM EPS of ₹60.91, indicating that recent performance is driving earnings quality improvements after a period of stagnation.

Financial health shows mixed signals. While cash generation has strengthened significantly—with Cash from Operating Activity jumping to ₹961 crore in Mar 2026 and cash reserves increasing to ₹299 crore as of Sep 2026—the balance sheet is expanding rapidly. Total assets rose to ₹12,841 crore, driven largely by a surge in Capital Work-in-Progress (CWIP) to ₹2,457 crore and borrowings totaling ₹2,331 crore. The company is clearly funding capacity expansion through debt, which increases leverage even as profitability metrics like ROCE remain stable at 10%. Working capital efficiency has also deteriorated, with the Cash Conversion Cycle widening to 417 days, primarily due to higher inventory holding periods.

- Operational Momentum: Sequential Q2 FY2026-27 revenue increased to ₹1,770 crore (from ₹1,600 crore in Q1), with net profit rising to ₹240 crore, supporting a TTM sales growth rate of 20%.
- Leverage and Expansion: Borrowings stand at ₹2,331 crore (Sep 2026) with CWIP growing to ₹2,457 crore, reflecting aggressive capacity addition funded by debt rather than equity.
- Cash Flow Strength: CFO improved sharply to ₹961 crore in FY2026, and cash balances increased to ₹299 crore, providing liquidity despite higher working capital requirements.
- Efficiency Headwinds: The Cash Conversion Cycle widened to 417 days (Mar 2026) from 363 days (Mar 2024), driven by Inventory Days rising to 453 days, signaling potential working capital pressure.

### Bull Case

Gujarat Fluorochemicals exhibits a multi-timeframe technical structure that remains constructive despite near-term consolidation. As of November 6, 2026, the stock closed at ₹4,700, trading within a defined range bounded by immediate support at ₹4,679 and resistance at ₹4,768. The Supertrend indicator signals a bullish trend on both daily and monthly timeframes, while the Plus DI (24.49) continues to exceed the Minus DI (15.09) on the daily chart, suggesting underlying buying pressure persists even as the Average Directional Index (21.17) indicates moderate trend strength rather than a violent breakout.

Historical performance reinforces this structural resilience. The stock has delivered a year-to-date return of +27.9% and a one-year return of +28.9%, outperforming short-term fluctuations with a 6-month return of +23.3%. Although the current drawdown is -1.8%, the maximum historical drawdown of -29.6% provides context for volatility tolerance. A key condition for maintaining this constructive interpretation is the ability to hold above the pivot support level of ₹4,679; a breach could expose the price to the next support tier at ₹4,621.

- Multi-timeframe bullish alignment: Daily and monthly Supertrends are bullish, with Plus DI (24.49) leading Minus DI (15.09) on the daily chart as of Nov 6, 2026.
- Strong historical returns: Year-to-date return of +27.9% and 1-year return of +28.9%, with a 6-month return of +23.3% demonstrating sustained upward momentum.
- Defined support/resistance: Current price of ₹4,700 sits between pivot support at ₹4,679 (-0.45%) and resistance at ₹4,768 (+1.44%), indicating a controlled consolidation phase.
- Volatility context: Annualized volatility stands at +30.6% with a current drawdown of only -1.8%, well below the maximum historical drawdown of -29.6%.

- [Hold Gujarat Fluorochemicals; target of Rs 4548: Prabhudas Lilladher](https://www.moneycontrol.com/news/business/stocks/hold-gujarat-fluorochemicals-target-of-rs-4548-prabhudas-lilladher-14068950.html)
- [Gujarat Fluorochemicals Limited has informed the Exchange regarding Acquisition (including agreement to acquire) |SUBJECT: Acquisition (including agreement to acquire)-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_17611_WebXMLFile_20261104_184128396.xml)
- [Gujarat Fluorochemicals Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_03112026141153_GFCL_Financial_Results.pdf)
- [Gujarat Fluorochemicals Limited has informed the Exchange regarding Outcome of Board Meeting held on November 03, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_03112026141707_GFCL__Outcome.pdf)
- [Gujarat Fluorochemicals Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_03112026150748_GFCL_Investor_Presentation_3November2026.pdf)
- [Gujarat Fluorochemicals Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_03112026182922_GFCL__Audio_Recording.pdf)
- [Gujarat Fluorochemicals Limited has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17611_WebXMLFile_20261103_183413718.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1752268_03112026085842_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1752275_03112026090315_WEB.xml)
- [Financial Results |Meeting Date: 03-Nov-2026](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_27102026104021_GFCL_BM_Intimation_26October2026.pdf)

### Bear Case

Gujarat Fluorochemicals faces near-term technical resistance and elevated volatility that warrant caution. The stock closed at ₹4,700 on November 6, 2026, with a market capitalization of approximately ₹51,735 crore. While the monthly supertrend remains bullish, daily momentum indicators show divergence: the Average Directional Index (ADX) is low at 21.17, suggesting weak trend strength, and the 50-day simple moving average slope has turned negative (-8.23). Immediate upside is capped by resistance levels at ₹4,767.67 (1.44% above) and ₹4,825.73 (2.68% above). Furthermore, the stock exhibits high annualized volatility of +30.6% and an ATR of 3.36%, indicating significant price fluctuation risk. Although Prabhudas Lilladher issued a 'Hold' recommendation with a target of ₹4,548 on November 4, 2026, this target sits below the current closing price, implying potential downside pressure if the stock fails to break through immediate resistance.

- Technical resistance is close: Prices face immediate hurdles at ₹4,767.67 (+1.44%) and ₹4,825.73 (+2.68%), limiting short-term upside from the ₹4,700 close.
- Momentum divergence: Daily ADX is weak at 21.17, and the 50-day SMA slope is negative (-8.23), contrasting with the bullish monthly supertrend.
- High volatility risk: Annualized volatility stands at +30.6% with an ATR of 3.36%, exposing investors to sharp intraday swings.
- Analyst target below spot price: Prabhudas Lilladher’s November 4, 2026 'Hold' rating sets a target of ₹4,548, which is 3.3% below the November 6 closing price.

- [Hold Gujarat Fluorochemicals; target of Rs 4548: Prabhudas Lilladher](https://www.moneycontrol.com/news/business/stocks/hold-gujarat-fluorochemicals-target-of-rs-4548-prabhudas-lilladher-14068950.html)
- [Gujarat Fluorochemicals Limited has informed the Exchange regarding Acquisition (including agreement to acquire) |SUBJECT: Acquisition (including agreement to acquire)-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_17611_WebXMLFile_20261104_184128396.xml)
- [Gujarat Fluorochemicals Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_03112026141153_GFCL_Financial_Results.pdf)
- [Gujarat Fluorochemicals Limited has informed the Exchange regarding Outcome of Board Meeting held on November 03, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_03112026141707_GFCL__Outcome.pdf)
- [Gujarat Fluorochemicals Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_03112026150748_GFCL_Investor_Presentation_3November2026.pdf)
- [Gujarat Fluorochemicals Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_03112026182922_GFCL__Audio_Recording.pdf)
- [Gujarat Fluorochemicals Limited has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17611_WebXMLFile_20261103_183413718.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1752268_03112026085842_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1752275_03112026090315_WEB.xml)
- [Financial Results |Meeting Date: 03-Nov-2026](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_27102026104021_GFCL_BM_Intimation_26October2026.pdf)

### FAQs

**What were Gujarat Fluorochemicals' financial results for Q2 FY27, and how do they compare to the previous year?**

For the quarter ended September 30, 2026, GFCL reported consolidated revenue of ₹1,760 crore (up 45% YoY), EBITDA of ₹473 crore (up 32% YoY), and PAT of ₹240 crore (up 42% YoY). The Chemical segment alone contributed ₹1,723 crore in revenue. These figures represent unaudited standalone and consolidated results approved by the Board on November 3, 2026.

**What major corporate action is GFCL undertaking regarding its EV business, and what are the implications?**

On November 4, 2026, GFCL announced the acquisition of GFCL EV Products Limited for INR 6,000 million. Classified as a Related Party Transaction, this move aims to fund capital expenditure and operational expansion for battery chemicals and electric vehicle solutions. Completion is expected during FY 2026-27.

**What new product milestones or production timelines has GFCL disclosed for the near term?**

GFCL reports that LiPF6 sales are ramping up with five major global electrolyte players. LFP plant samples are progressing through qualification. Commercial supplies of PVDF/PTFE and R134a production are both scheduled to commence in Q4 FY27.

**How is the stock performing technically, and what are the key price levels to watch?**

As of November 6, 2026, the stock closed at ₹4,700 with a market cap of approximately ₹51,735 crore. Technical indicators show a bullish trend across daily, weekly, and monthly timeframes. Immediate resistance lies at ₹4,767.67, while support is noted at ₹4,679.03. The stock has gained +28.9% over the past year.

- [Hold Gujarat Fluorochemicals; target of Rs 4548: Prabhudas Lilladher](https://www.moneycontrol.com/news/business/stocks/hold-gujarat-fluorochemicals-target-of-rs-4548-prabhudas-lilladher-14068950.html)
- [Gujarat Fluorochemicals Limited has informed the Exchange regarding Acquisition (including agreement to acquire) |SUBJECT: Acquisition (including agreement to acquire)-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_17611_WebXMLFile_20261104_184128396.xml)
- [Gujarat Fluorochemicals Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_03112026141153_GFCL_Financial_Results.pdf)
- [Gujarat Fluorochemicals Limited has informed the Exchange regarding Outcome of Board Meeting held on November 03, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_03112026141707_GFCL__Outcome.pdf)
- [Gujarat Fluorochemicals Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_03112026150748_GFCL_Investor_Presentation_3November2026.pdf)
- [Gujarat Fluorochemicals Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_03112026182922_GFCL__Audio_Recording.pdf)
- [Gujarat Fluorochemicals Limited has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17611_WebXMLFile_20261103_183413718.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1752268_03112026085842_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1752275_03112026090315_WEB.xml)
- [Financial Results |Meeting Date: 03-Nov-2026](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_27102026104021_GFCL_BM_Intimation_26October2026.pdf)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Weak Uptrend
- Weekly trend: Moderate Uptrend
- Pivot point: ₹4,679.03
- Risk regime: Price Risk Currently Contained

### Support levels
- 4555.3
- 4461.1
- 4405.450000000001

### Resistance levels
- 4839.95
- 4923.4
- 4767.666666666668

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | -0.20% |
| return_10 | +10.95% |
| return_1m | +2.68% |
| return_1y | +28.89% |
| return_20 | +5.85% |
| return_3m | +3.34% |
| return_5 | +10.64% |
| return_6m | +23.34% |
| return_since_start | +11.35% |
| return_ytd | +27.89% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | contained_risk |
| label | Price risk currently contained |
| summary | Recent drawdown and price variability remain within the producer's contained-risk thresholds. |
| maximum_drawdown | -29.59% |
| annualized_volatility | +30.61% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# Gujarat Fluorochemicals Q2 FY2026-27: Revenue up 46% YoY

Gujarat Fluorochemicals reported Q2 FY2026-27 revenue from operations of ₹1,760 crore, up 10.8% quarter on quarter and 45.5% year on year. Profit before tax rose to ₹339 crore and profit from continuing operations to ₹240 crore; basic EPS from continuing operations was ₹22.11. Operating cash flow of ₹738 crore was slightly below investing outflows of ₹742 crore, leaving free cash flow at negative ₹4 crore.

## Revenue and earnings

Revenue from operations rose from ₹1,588 crore in Q1 FY2026-27 to ₹1,760 crore in Q2, and from ₹1,210 crore in Q2 FY2025-26. Total expenses increased 11.1% quarter on quarter to ₹1,431 crore, compared with revenue growth of 10.8% over the same period.

Profit before tax increased to ₹339 crore from ₹312 crore in Q1 FY2026-27 and ₹246 crore in Q2 FY2025-26. Profit from continuing operations was ₹240 crore, versus ₹221 crore and ₹179 crore in those respective quarters. Basic EPS from continuing operations was ₹22.11, up from ₹20.17 in Q1 FY2026-27 and ₹16.31 a year earlier.

Tax expense was ₹99 crore, compared with ₹91 crore in Q1 FY2026-27. Finance costs rose to ₹40 crore from ₹26 crore sequentially, a cost increase to monitor alongside earnings growth.

## Operating costs

Q2 expenses included ₹681 crore for materials consumed, ₹158 crore in employee benefit expense and ₹104 crore in depreciation, depletion and amortisation. Changes in inventories of finished goods, work in progress and stock in trade were a negative expense of ₹61 crore. Inter-segment revenue was ₹24 crore, down from ₹51 crore in Q1 FY2026-27.

## Cash flow and investment

Cash flow from operating activities was ₹738 crore. Investing activities used ₹742 crore, while financing activities provided ₹88 crore. Free cash flow was negative ₹4 crore, as investing outflows slightly exceeded operating cash generation.

At 30 September 2026, property, plant and equipment stood at ₹4,424 crore, down from ₹4,509 crore at 31 March 2026. Capital work in progress increased to ₹2,457 crore from ₹1,890 crore over the same dates. Cash and cash equivalents were ₹299 crore at quarter-end, compared with ₹215 crore at 31 March.

## Balance sheet and borrowings

Total assets increased to ₹12,841 crore at 30 September 2026 from ₹11,883 crore at 31 March 2026. Trade receivables rose to ₹1,511 crore from ₹1,282 crore, and inventories increased to ₹1,988 crore from ₹1,933 crore.

Noncurrent borrowings increased to ₹651 crore from ₹566 crore, while current borrowings declined to ₹1,583 crore from ₹1,633 crore. Equity attributable to owners of the parent rose to ₹8,392 crore from ₹7,866 crore. The higher receivables and noncurrent borrowings, alongside the increase in capital work in progress, are relevant balance-sheet developments as the company expands its asset base.

## Key Takeaway

Revenue, profit and EPS advanced both sequentially and year on year, while investment outflows marginally exceeded operating cash generation. The rise in capital work in progress and receivables, together with higher noncurrent borrowings, makes investment and working-capital trends important to track alongside earnings.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q2
- As of: 2026-09-30
- Promoter holding: +61.39%
- FII holding: +4.53%
- DII holding: +13.32%
- Mutual fund holding: +9.10%
- Retail holding: +7.97%
- Promoter pledged: +0.00%

### Major reported shareholders

- Inox Leasing and Finance Limited — +52.61% (Bodies Corporate)
- Aryavardhan Trading LLP — +5.08% (Bodies Corporate)
- Akash Bhanshali — +4.75%
- Devansh Trademart LLP — +3.65% (Bodies Corporate)
- Life Insurance Corporation of India — +2.33%
- Motilal Oswal Large And Midcap Fund — +2.11%
- Mirae Asset Large & Midcap Fund — +1.99%
- Hdfc Mutual Fund - Hdfc Mid-Cap Fund — +1.43%
- Vivek Kumar Jain — +0.04%
- Devansh Jain — +0.01%

## Official filings

- 2026-11-06 — Generic Announcement: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_06112026161313_Transcript.pdf)
- 2026-11-06 — Generic Announcement: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17611_WebXMLFile_20261106_175558314.xml)
- 2026-11-04 — Generic Announcement: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_17611_WebXMLFile_20261104_184128396.xml)
- 2026-11-03 — Generic Announcement: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_03112026141153_GFCL_Financial_Results.pdf)
- 2026-11-03 — Generic Announcement: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_03112026141707_GFCL__Outcome.pdf)
- 2026-11-03 — Earnings Presentation: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_03112026150748_GFCL_Investor_Presentation_3November2026.pdf)
- 2026-11-03 — Generic Announcement: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_03112026182922_GFCL__Audio_Recording.pdf)
- 2026-11-03 — Generic Announcement: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17611_WebXMLFile_20261103_183413718.xml)
- 2026-11-03 — Financial Results Filing: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1752268_03112026085842_WEB.xml)
- 2026-11-03 — Financial Results Filing: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1752275_03112026090315_WEB.xml)
- 2026-10-27 — Board Meeting Notice: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_27102026104021_GFCL_BM_Intimation_26October2026.pdf)
- 2026-10-27 — Generic Announcement: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17611_WebXMLFile_20261027_183956696.xml)
- 2026-10-26 — Generic Announcement: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_17611_WebXMLFile_20261026_164813502.xml)
- 2026-10-26 — Board Meeting Notice: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_17611_WebXMLFile_20261026_164813502.xml)
- 2026-10-26 — Generic Announcement: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_26102026165849_GFCL_Intimation_of_conference_call_26October2026.pdf)
- 2026-10-09 — Shareholding Disclosure: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1734845_09102026031625_WEB.xml)
- 2026-10-06 — Generic Announcement: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_06102026114454_GFCL_-_Intimation_of_newspaper_advertisement_-_Special_window_1_1.pdf)
- 2026-10-06 — Generic Announcement: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_06102026122903_GFCL_-_Regulation_74_5__Confirmation_Certificate_-_30September2026.pdf)
- 2026-09-28 — Generic Announcement: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_28092026180031_GFCL_Trading_Window_Closure_30September2026.pdf)
- 2026-09-28 — Generic Announcement: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_17611_WebXMLFile_20260928_180638629.xml)
- 2026-09-24 — Generic Announcement: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_24092026174406_GFCL_Eighth_AGM_Gist_of_AGM_Proceedings_24September2026.pdf)
- 2026-09-24 — Generic Announcement: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_24092026194254_GFCL_Intimation_of_Voting_Results__2_.pdf)
- 2026-09-24 — Management Change: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_24092026194811_GFCL_Appointment_of_Directors_24September2026.pdf)
- 2026-08-28 — Generic Announcement: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_28082026145358_GFCL_Eighth_AGM_Newspaper_Advertisement.pdf)
- 2026-08-27 — Generic Announcement: Gujarat Fluorochemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FLUOROCHEM_27082026183733_GFCL_Intimation_of_Record_Date_Final_Dividend.pdf)

## News and market events

- 2026-11-04 — MONEYCONTROL: **Hold Gujarat Fluorochemicals; target of Rs 4548: Prabhudas Lilladher** — Prabhudas Lilladher has issued a 'Hold' recommendation for Gujarat Fluorochemicals, setting a price target of Rs 4548. This guidance was published by Moneycontrol on November 4, 2026. — [Source](https://www.moneycontrol.com/news/business/stocks/hold-gujarat-fluorochemicals-target-of-rs-4548-prabhudas-lilladher-14068950.html)
- 2026-10-06 — BUSINESSTODAY: **Balaji Amines, Alkyl Amines, Deepak Nitrite, Aarti Ind: Why chemical stocks rallied up to 20% today; targets** — Balaji Amines share price today, Alkyl Amines share price today, Deepak Nitrite share price today, Aarti Industries share price today — [Source](https://www.businesstoday.in/markets/stocks/story/balaji-amines-alkyl-amines-deepak-nitrite-aarti-ind-why-chemical-stocks-rallied-up-to-20-today-targets-559757-2026-10-06)
- 2026-09-30 — The Hindu: **Inox Clean Energy files for ₹10,000 crore IPO** — Inox Clean Energy files for a ₹10,000 crore IPO, including ₹8,000 crore fresh shares and up to ₹2,000 crore offer for sale. — [Source](https://www.thehindubusinessline.com/markets/inox-clean-energy-files-for-10000-crore-ipo-to-tap-clean-energy-growth/article71526534.ece)
- 2026-09-16 — BUSINESSTODAY: **IRCON International, MSTC, Sansera Engineering, Sunteck Realty among stocks to turn ex-dividend on September 17** — Excel Industries, Gujarat Fluorochemicals, IRCON International, Landmark Cars, MSTC, Sansera Engineering, Tamil Nadu Newsprint & Papers, Agarwal Industrial Corporation, Acutaas Chemicals, ex-dividend stocks, dividend stocks, September 17 ex-dividend, final dividend, dividend record date, highest dividend stocks — [Source](https://www.businesstoday.in/markets/stocks/story/ircon-international-mstc-sansera-engineering-sunteck-realty-among-stocks-to-turn-ex-dividend-on-september-17-555895-2026-09-16)
- 2026-09-16 — Mint: **Dividend record date alert: Last chance to buy Asian Energy, Bharat Rasayan, IRCON, MSTC, and others | Full list** — Shares of companies like Excel Industries and Asian Energy Services are gaining investor interest ahead of their dividend record dates on September 17.  — [Source](https://www.livemint.com/market/stock-market-news/dividend-record-date-alert-last-chance-to-buy-asian-energy-bharat-rasayan-ircon-mstc-and-others-full-list-11789528768234.html)
- 2026-09-11 — Economic Times: **Sensex Today | Nifty 50 | Stock Market Live Updates: Sensex plunges over 600 pts, Nifty tests 23,250; all sectors bleed - The Economic Times** — Sensex Today | Nifty 50 | Stock Market Live Updates: The Indian stock market slipped into the deep red on Friday, with benchmark indices Sensex and Nifty falling around 1% each as soaring crude oil prices, surging bond yields and other factors spooked investors. — [Source](https://economictimes.indiatimes.com/markets/stocks/live-blog/bse-sensex-today-nifty50-stock-market-live-updates-gift-nifty-canara-bank-vodafone-idea-share-price-11-september-2026/liveblog/134039705.cms)
- 2026-09-11 — Economic Times: **Gujarat Fluorochemicals shares up 34% in 3 months: What’s driving the rally?** — The shares of Gujarat Fluorochemicals have experienced notable growth, driven by strong results from the June quarter. The company is gearing up for significant capital investments to broaden its reach in advanced fluoropolymers, strategically targeting booming markets like semiconductors and green hydrogen. Additionally, the shift towards battery materials is poised to act as a crucial source of growth, leading to enhanced earnings and returns in the near future. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/gujarat-fluorochemicals-shares-up-34-in-3-months-whats-driving-the-rally/articleshow/134037555.cms)
- 2026-08-14 — Mint: **Stock recommendations for 14 August from MarketSmith India** — MarketSmith India reveals its top stock recommendations for today, 14 August. Get expert insights into the best-performing stocks to guide your investment decisions. — [Source](https://www.livemint.com/market/stock-market-news/stock-recommendations-for-14-august-from-marketsmith-india-11786633692149.html)
- 2026-08-13 — Economic Times: **Ahead of Market: 10 things that will decide stock market action on Friday** — Sensex gained 114 points while Nifty fell over 40 points on expiry day, reflecting divergent benchmark moves. Softer inflation supported sentiment, but elevated crude prices and geopolitical risks kept investors cautious, with Nifty remaining rangebound between key technical levels. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/ahead-of-market-10-things-that-will-decide-stock-market-action-on-friday/articleshow/133218209.cms)
- 2026-08-13 — CNBC-TV18: **Sensex Today | Stock Market LIVE Updates: Nifty below 24,400; TVS Srichakra jumps 8% after results** — Sensex Today | Stock Market LIVE Updates: We are in the second half of this Sensex weekly expiry session, and the markets are under pressure again, as the Nifty index falls close to 50 points, falling below 24,350. The Nifty bank index is taking a heavier blow, down over 300 points. Grasim, Ultratech and Hindalco are the top laggards. — [Source](https://www.cnbctv18.com/market/stock-market-live-updates-sensex-expiry-today-nifty-50-msci-gcpl-lg-tata-motors-lenskart-laurus-adani-ashok-leyland-share-price-liveblog-19968111.htm)
- 2026-08-13 — CNBC-TV18: **Gujarat Fluorochemicals: Key concall takeaways and analyst views** — While core business segments (Fluoropolymers and Fluorochemicals) continue to show strong operational traction and high utilisation, long-term re-rating potential hinges on the execution and scaling of the Advanced Battery Materials segment in the next two years. — [Source](https://www.cnbctv18.com/market/stocks/gujarat-fluorochemicals-key-concall-takeaways-and-analyst-views-19968365.htm)
- 2026-08-12 — CNBC-TV18: **Sensex Today | Stock Market LIVE Updates: Nifty 50 at 24,350; Grasim net profit up 51%** — Sensex Today | Stock Market LIVE Updates: Indian benchmark indices Nifty 50 and Sensex opened flat and continue to trade in the red. — [Source](https://www.cnbctv18.com/market/stock-market-live-updates-sensex-nifty-50-today-it-godrej-consumer-thyrocare-dr-agarwal-tenneco-blocks-hal-pi-ind-share-price-liveblog-19967084.htm)
- 2026-08-05 — BUSINESSTODAY: **Godfrey Phillips, HEG, Gujarat Fluoro: Top stocks to trade— Target price, stop loss & more** — Stocks to buy, Stock picks, Stocks to trade, trading views, HEG, Godfrey Phillips India, Gujarat Fluorochemicals, HEG shares, Godfrey Phillips shares, Gujarat Fluorochemicals shares, HEG share price, Godfrey Phillips share price, Gujarat Fluorochemicals share price, HEG stock price, Godfrey Phillips stock price, Gujarat Fluorochemicals stock price, HEG target price, Godfrey Phillips target price, Gujarat Fluorochemicals target price — [Source](https://www.businesstoday.in/markets/stocks/story/godfrey-phillips-heg-gujarat-fluoro-top-stocks-to-trade-target-price-stop-loss-more-547240-2026-08-05)
- 2026-07-21 — Mint: **Top Gainers & Losers on July 21: Karur Vysya Bank, TVS Motor, Zen Tech, Meesho, Thermax among top gainers today | Stock Market News** — The Indian stock market remained range-bound due to fragile investor sentiment amid West Asian tensions. Despite modest losses in benchmark indices, broader markets performed well, supported by select sectors. — [Source](https://www.livemint.com/market/stock-market-news/top-gainers-losers-on-july-21-karur-vysya-bank-tvs-motor-zen-tech-meesho-thermax-among-top-gainers-today-11784625895681.html)

## Business profile

**Strategic vision:** Indian chemical company producing fluoropolymers, speciality chemicals, refrigerants, and industrial chemicals.

### Business segments
- **Fluoropolymers:** GFL produces a range of fluoropolymers including PTFE, PFA, FEP, FKM, and PVDF, along with additives and processing aids.
- **Speciality Chemicals:** The company manufactures fluorospeciality chemicals used in the agriculture and pharmaceutical industries.
- **Refrigerants:** GFL operates a refrigerant manufacturing unit producing various refrigerants under the REFRON brand.
- **Industrial Chemicals:** GFL produces industrial chemicals catering to end-use industries such as Pharma, Agrochemicals, and Plastics.

### Competitive strengths
- Expertise in Fluorine Chemistry
- Vertical integration from raw materials to finished products
- Strong research and development capabilities
- Global manufacturing and marketing network

## Related stocks

- [Himadri Speciality Chemical Limited (Chemicals)](https://faxioms.com/stocks/hscl) — -0.01%
- [Navin Fluorine International Limited (Chemicals)](https://faxioms.com/stocks/navinfluor) — +1.87%
- [PI Industries Limited (Chemicals)](https://faxioms.com/stocks/piind) — -1.98%
- [SRF Limited (Chemicals)](https://faxioms.com/stocks/srf) — -0.99%
- [UPL Limited (Chemicals)](https://faxioms.com/stocks/upl) — +1.60%

## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/fluorochem
Markdown representation: https://faxioms.com/stocks/fluorochem?render=md