Navin Fluorines (NFIL) 4QFY17 revenues came in at Rs 2.0bn ( 6% YoY), led by growth in the inorganic segment. Higher volumes led to an EBITDA margin of 19.5% ( 55bps YoY). EBITDA was Rs 390mn ( 9%) and APAT Rs 294mn (-7% YoY, higher tax rate).