Gujarat Fluorochemicals reported a consolidated revenue of Rs 11.8 billion, marking a 25.5% YoY increase. While the Fluoropolymers segment showed flat volumes, higher realizations are anticipated as a competitor exits the market by December 2024. Despite a decline in bulk chemicals due to falling caustic soda prices, growth is expected from high-grade fluoropolymers and battery chemicals, leading to a "REDUCE" rating with a target price of Rs 3,770.