_edited.png)
Stallion India Fluorochemicals Ltd
Stock price rises on 62% Revenue Growth - Can Capacity Expansion Sustain the Momentum?
Stallion India Fluorochemicals Ltd., a niche refrigerants and specialty gases manufacturer, posted strong FY25 results with revenue up 62% to ₹377 crore and net profit rising 52% to ₹14.8 crore. With expansion plans across India and a growing foothold in regulated industries like AC/R, semiconductors, and fire safety, the company is positioning itself for long-term growth. However, rising finance costs and raw material dependency remain key risks.
Business & Product Portfolio
Stallion operates in the refrigerants and specialty gases space, catering to industries such as air-conditioning, refrigeration, semiconductors, pharmaceuticals, fire safety, and automotive. Its core product mix includes HFCs, HFOs, hydrocarbons, blends, and related accessories. It also supplies specialized gases such as SF6, CF4, fire-fighting gases, and aerosol propellants—giving it a diversified portfolio across industrial and consumer end-markets.
Operational Footprint & Expansion Plans
The company currently operates four processing plants in Maharashtra, Rajasthan, and Haryana. The Khalapur facility is its key hub for HFC/HFO debulking and specialty gas production. Looking ahead, Stallion is setting up a new blending and debulking unit in Mambattu, Andhra Pradesh, to ramp up capacity. This facility is expected to help the company meet rising demand, particularly from the AC/R and semiconductor industries where regulatory changes are accelerating the shift towards environment-friendly refrigerants.
Financial Performance
Stallion’s operating revenue rose sharply from ₹233.2 crore in FY24 to ₹377.4 crore in FY25, reflecting strong demand and better execution. Net profit also improved to ₹14.8 crore, with net margins expanding from 4.3% to 6.3%. Gross margins strengthened and other income supported profitability, though finance costs increased significantly, highlighting the impact of debt-funded growth.
Ownership & Governance
Before its IPO, Stallion was closely held, with promoter Shazad Sheriar Rustomji owning nearly 95%. Post-listing, promoter holding has reduced to ~67.9%, improving float and market participation. The company’s shift from private to public status in October 2023 reflects its ambition to scale further.
Investor Takeaways
Stallion’s strengths lie in its niche product positioning, diversified end-industry exposure, and capacity expansion strategy. Its ability to supply critical gases for regulated industries makes it a long-term growth story. However, risks such as raw material dependency, price volatility, and high customer concentration cannot be ignored. If managed well, Stallion has the potential to deliver steady growth and reward investors over the coming years.
Sources
Company profile / business operations: StockAnalysis, IIFL Capital, CapitalMarket.
Financial performance & IPO data: IPOAndMore, EquityMaster, ValueResearchOnline.
Shareholding & ownership: Moneycontrol, ChoiceIndia.
Latest News
Alkem Laboratories expands dermatology portfolio with Renocia cyclical hair therapy
Alkem Laboratories has introduced Renocia Cyclical Therapy, a prescription nutritional supplement aimed at supporting hair growth and managing hair loss. The launch strengthens Alkem’s presence in dermatology-led nutrition as demand rises for science-backed, compliance-friendly therapies.
3:20 pm
8 January 2026
Castrol India brings in seasoned brand leader to sharpen marketing strategy
Castrol India has announced a leadership change in its marketing function with the appointment of a new Vice President and Head of Marketing. The move signals a renewed focus on brand-led growth and deeper consumer engagement in an increasingly competitive lubricants market.
2:31 pm
8 January 2026
Ather Energy scales charging footprint as interoperability becomes industry standards
Ather Energy has expanded access to over 5,000 fast chargers across India, strengthening EV charging availability beyond metro markets. The move combines network scale, industry-standard interoperability, and digital visibility to support wider electric two-wheeler adoption.
1:35 pm
8 January 2026
Adani steps into regional jet manufacturing with reported Embraer partnership
Adani Group is reportedly entering aircraft manufacturing through a partnership with Embraer to produce regional jets in India. The move, if formalised, would align with India’s push for aviation self-reliance while addressing global aircraft supply bottlenecks.
1:00 pm
8 January 2026
BHEL enters semi high speed rail propulsion with Vande Bharat Sleeper supply
Bharat Heavy Electricals Limited has begun supplying underslung traction converters for the Vande Bharat Sleeper Train programme, marking its formal entry into semi high speed propulsion systems. The development strengthens domestic rail manufacturing and expands BHEL’s technology footprint beyond conventional rolling stock equipment.