Navin fluorine international ltd reported Sales/EBITDA/PAT de-growth of 0.5/3.8/0.3% YoY to ` 2.41bn/607mn/395mn. Sales were lower than our expectations by 7.5% (D.est: ` 2.6bn), while EBITDA/PAT came in-line with estimates (D.est: ` 577/391mn). Gross margins improved on a sequential basis by 230 bps, while there was a drop on a YoY basis of 250 bps to 52.5%. The company has taken price hikes in Q1FY20 and expects gross margins to be sustainable with fluorspar prices softening. CRAMS revenues weak, however commentary positive...