Stallion India Fluorochemicals Limited has informed the Exchange about Investor Presentation
STALLI
Stallion India Fluorochemicals Ltd.
CIN - L51410MH2002PLC137076 2, A-Wing, Knox Plaza, Off Link Road, Mindspace, Malad (W), Mumbai - 400 064. Tel.: 022-4351 0000 Email: si@stallion.in
Date: 20t May, 2025
To, National Stock Exchange of India Limited ~ BSE Limited (“BSE”), (“NSE"), The Listing Department Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra-Kurla Complex Bandra (East), Mumbai - 400 051.
Corporate Relationship Department, 2nd Floor, New Trading Ring, P.J. Towers, Dalal Street, Mumbai - 400 001.
To,
NSE Symbol: STALLION ISIN: INEORYC01010
BSE Scrip Code: 544342 ISIN: INEORYC01010
Sub: Investor Presentation on Audited Financial Results for the Quarter and Financial
Year ended 315t March, 2025.
Dear Sir/Madam,
In compliance with Regulation 30 read with Para-A of Part-A of Schedule III of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, we are enclosing herewith the Investor Presentation for performance of Audited Financial Results of India Stallion Fluorochemicals Private Limited) (“the Company”) for the Quarter and Financial Year
Fluorochemicals
known as
(Formerly
Limited
Stallion
India
ended 315t March, 2025, to be made to the investors and analysts.
This aforesaid presentation is also being uploaded on the Company’s website at www.stallionfluorochemicals.com in compliance with the provisions of Regulations 46(2) of the SEBI (LODR) Regulations, 2015.
You are requested to kindly note the same and acknowledge receipt.
Yours Faithfully, For Stallion India Fluorochemicals Limited (Formerly known as Stallion India Fluorochemicals Private Limited)
Govind Rao Company Secretary & Compliance Officer
Khalapur Plant - Survey No. 11 & Hissa No.9/10/1, Village lohop, Taluka- Khalapur, Dist. Raigad, Maharashtra -410 207
Stallion India Fluorochemicals Limited
INVESTOR PRESENTATION
Standard Disclaimer
This presentation, along with its accompanying slides (hereafter referred to as the “Presentation”), has been compiled by Stallion India Fluorochemicals Ltd (Stallion, or "the Company") for informational purposes only. It does not constitute an offer, recommendation, or invitation to purchase or subscribe to any securities and should not be relied upon as the basis for any contractual commitment. Any offering of the Company's securities will be conducted solely through a formal offering document containing comprehensive information about the Company.
The information and data presented herein have been gathered by the Company from sources believed to be reliable. However, the Company makes no express or implied representation or warranty regarding the accuracy, completeness, fairness, or reasonableness of the contents of this Presentation. It may not encompass all relevant information, and any reliance placed on it is at the recipient's own risk. The Company expressly disclaims any liability for errors or omissions in this Presentation.
Certain discussions within this Presentation may include forward-looking statements regarding the Company's market potential and business outlook. These statements are inherently subject to risks, uncertainties, and assumptions, and actual results may differ materially from those expressed or implied herein. Factors influencing these forward-looking statements include, but are not limited to, the performance of the Indian and international economies, industry dynamics, competition, successful execution of the Company's strategies, technological advancements, revenue fluctuations, market preferences, and exposure to various risks.
The Company assumes no obligation to update any forward-looking information contained herein. Additionally, any forward- looking statements or projections made by third parties included in this Presentation are not endorsed by the Company, and the Company bears no responsibility for such statements or projections.
2
COMPANY OVERVIEW
Chairman's Vision: Integration Roadmap
Dear Investors,
I am pleased to share with you our strategic vision for the company's growth trajectory. Our current network of four facilities, with two more additions underway, will establish a truly pan-India distribution presence. This expanded footprint creates a robust foundation for forward integration in our industry.
We are particularly excited about the development of specialty and semiconductor gas capabilities at our Khalapur facility. This strategic initiative directly addresses India's emerging technology needs and positions us at the forefront of this growing market segment. Our investment in liquid helium processing capacity, targeting 1,200 metric tons per annum, is expected to strengthen our position as one of India's leading suppliers in this specialized segment.
These strategic initiatives are projected to improve our profit margins by 3-4%. Looking ahead, our vision includes plans for backward integration, which we believe will help us achieve healthy margins comparable to industry peers. As the only company with strong forward integration capabilities, our expansion into backward integration creates immense growth potential and supports our ambition to emerge as an industry leader.
Thanking you, Mr. Shazad Sheriar Rustomji, Managing Director
Disclaimer: This message contains forward-looking statements reflecting the promoters' vision rather than established facts. Actual results may differ materially from projections. The company makes no commitment to update these statements and investors should not rely solely on them for decision-making.
4
Built to Lead: Stallion At a Glance
Established in 2002, Stallion India Fluorochemicals Limited has emerged as a specialized provider of refrigerant and industrial gases. With over three decades of expertise, the company has established a reputation for excellence in debulking, blending, and processing refrigerant/non-refrigerant gases for a wide range of applications.
Operates across four strategic facilities located in Khalapur (Maharashtra), Ghiloth (Rajasthan), Manesar (Haryana), and Panvel (Maharashtra). Each location is engineered to maintain controlled environments for gas storage, adhering to rigorous safety standards that ensure product integrity throughout the handling process.
Company's comprehensive services encompass refrigerant debulking from ISO tanks into our bulk storage, the manufacture of refrigerant blends, quality thorough laboratory testing, and cylinder filling with high-purity gases.
Stallion's products serve essential functions across numerous industries. Their specialty lies in creating custom gas formulations through expert blending techniques.
5
Core Business Metrics
30+ Years Of Experience
04 Facilities
02 Upcoming New Facilities
Moving into gases used in semi conductors, solar cells and electronics
~48, 000 sq. mt. Spread across PAN India
More than 40 gases including blends
Serving over 15+ Industries
200+ Satisfied Customers
6
Key Milestones
• Established India’s
first standalone HFC debulking/bottling facility at Panvel, near Mumbai.
• Entered into an agreement with Honeywell to jointly market and distribute HFCs, fluorines, and refrigerant specialties in India.
•
Introduced and commenced testing of next-generation HMPE ropes with the Indian Navy, launching year-long no-cost, no- commitment trials.
• Started commercial HFO-
•
1234yf supplies to Indian auto OEMs, aiding compliance with European F-gas export norms. Partnered with Daikin Japan and Daikin India as sourcing and logistics partner for HFC- 32 for India’s AC&R industry.
• Began Isobutane supplies from Khalapur plant to refrigerator OEMs, supporting HFC phase-out and energy norms.
•
Expanded the Khalapur facility with a second plant, adding a refrigerant blending unit.
•
Transitioned to a public limited company.
• Acquired Stallion
Enterprises through a slump sale.
1992
2002
2009
2013
2017
2020
2025
1998
2006
2010
2016
• Stallion Enterprises
commenced operations. • Acquired by
Stallion India Fluorochemicals Limited through a slump sale agreement in 2023.
• Expanded operations with a North India debulking/bottling facility in Manesar, Gurgaon, ensuring just-in-time supplies for NCR-based customers. Incorporated Stallion India Fluorochemicals Private Limited.
•
•
Initiated projects to help the Indian Navy retrofit vessels from CFCs to alternative HCFC blends.
• Established a
•
flammable gas debulking and refilling plant at Khalapur, Maharashtra, catering to hydrocarbon, HFC, and next-generation HFO gases.
Introduced and promoted next- generation Solstice HFO refrigerants in India under an agreement with Honeywell.
2023
•
Got listed on NSE & BSE
2018
•
Established a new facility in Ghiloth, Rajasthan, for refrigerants and flammable gases, supplementing the Manesar plant and addressing rising demand in North India.
7
Serving Major Industries
Textiles
Electricity
Solvents
Automobile
Air-conditioner & Refrigerator
Fire Fighting
Pharma & Medical
Transmission & Distribution
Semi Conductor
Glass Bottle
Aerosols
Defence
Spray Foam
Gas Insulated Substation
8
Sustainable Advantages That Drive Long-Term Value
Market Positioning
•
•
•
•
Holding approx. 10% of the market share in India Strong reputation for quality, reliability, and customer service Operational efficiency, enabling timely deliveries and quality control Distinctive pan-India supply chain that rapidly adapts to changing market conditions and consistently meets customer demands
Strategic Locational Presence
•
A network of 6 facilities (4 operational + 2 upcoming) across South India, Maharashtra, Rajasthan, and Haryana, strategically optimized for logistics efficiency.
• Main blending operations at the Khalapur facility &
onwards at the new Mambattu facility Proximity to key markets, enabling quick adaptation to customer demands Stringent quality control adhering to industry standards
•
•
Diversified Customer Base
•
•
•
•
Presence across multiple high-growth sectors Reduced dependency on any single market, enhancing business resilience Long-term customer relationships built on consistent value delivery Focus on aftermarket clients, who make up 80% of the total market by share and deliver substantially higher profit margins than OEM customers
9
BUSINESS OVERVIEW
Product Categories
HFC’s
HFC blends
HFO’S
HYDROCARBONS
Refrigerants
•Refrigerant gases are essential to the operation of cooling and air conditioning systems, which have become an integral part of modern life. •They are commonly used in air conditioners, refrigerators, freezers, heat pumps, and automotive cooling systems.
Non - Refrigerants
Non-refrigerant specialty gases play a vital role across a wide range of industries. Their key application areas include use as blowing agents (PUF, and polystyrene); fire extinguishants; insulating gases for electrical insulation; treatment gases; pharmaceutical propellants; aerosols; and cleaning agents and many other segments
Others
Offers a range of after market accessories and ancillary products to its dealer network, commonly used for replacement, repair, and maintenance purposes used in the allied Air conditioner & refrigeration fields. This allows for a strong presence in the after-market segment which is 80% of the total share of the market.
Investing in Liquid Helium & Related Gases Into Their Product Line.
11
Distribution Network & Strategic Pan-India Presence
Optimized Logistics & Supply Chain Efficiency:
•
•
Facilities are positioned to cover key regions – North, West, and South – ensuring rapid and efficient product delivery. Robust infrastructure supports seamless debulking, blending, filling, and storage operations, enhancing supply chain agility.
Nationwide Footprint & Expansion:
• •
•
Company has a strong forward integration. Four state-of-the-art facilities in Khalapur (Maharashtra), Ghiloth (Rajasthan), Manesar (Haryana), and Panvel (Maharashtra). Upcoming expansion in Mambattu, Andhra Pradesh, strategically tapping into the South.
Superior Distribution Network Advantage:
Competitive Advantages:
• •
•
•
•
Expansive and agile countrywide distribution network. This network ensures swift market penetration, enhances customer satisfaction, and reinforces long-term competitive positioning.
A distinctive pan-India supply chain that adapts quickly to changing market dynamics and customer demands. Over 200 satisfied customers and a reputation for quality and reliability reinforce the company's leadership in the refrigerant and industrial gases sector. De- centralized - Cost effect
This strategic distribution network not only bolsters the company’s market penetration but also serves as a backbone for its growth, ensuring a consistent and competitive edge in the evolving industrial landscape.
12
Key Features & Snapshot of Facilities
• Khalapur Facility
Gate no.11, Hissa No 9 & 11, Lohop Village, Taluka - Khalapur, District Raigad – 410207, Maharashtra
• Originally built to meet growing demand for HFCs, hydrocarbons, and new HFO gases, the facility efficiently adapts to market shifts.
• Later, bulk storage tanks were expanded and an HFC blending unit were added, boosting its capacity to produce HFC blends for evolving market needs.
• Manesar Facility
Plot 65, Sector 6, IMT-Manesar, HSIIDC, Manesar, Gurugram -122050, Haryana
•
•
The facility was set up to meet rising demand and ensure logistical proximity to the NCR market. Focuses on HFC debulking, filling, and storage, backed by advanced testing. Equipped with bulk tanks and key infrastructure, it ensures smooth and efficient operations.
• Ghiloth Facility
Plot E-80, General Zone, RIICO, Industrial Area, Ghiloth, District Alwar-301706, Rajasthan.
• The facility provides easy access to NCR and key hubs
•
in Rajasthan like Neemrana and Ghiloth. It features advanced bulk storage, efficient debulking, filling, and storage infrastructure, along with cutting- edge testing labs to ensure strict quality control and operational excellence.
• Panvel Facility
Inside Paras Warehousing Corporation, Kolkhe Village, Palaspa Phatta, Panvel, District-Raigad-410221, Maharashtra
•
The facility is dedicated to HFC debulking, filling, and storage operations, supported by specialized testing facilities.
• With bulk storage tanks, it serves as a key hub for
these processes, ensuring compliance with stringent testing protocols.
13
Operational Strategies for Market Expansion
New Semi-conductor & Specialty Gas Debulking& Blending Facility
o Planned capacity: 1,200 MT per
annum.
o To meet market demand and diversify offerings, the company plans a to setup a unit in Khalapur, Maharashtra.
New Refrigerant Debulking & Blending Facility
o Planned capacity: 7,200 MT per annum.
o Expanding in the South with a new plant
in Mambattu, Andhra Pradesh.
o The plant will handle refrigerant
debulking, blending, and storage of HFC, HFO, and their blends.
14
INDUSTRY OVERVIEW
Global Fluorochemicals Market
• The global fluorochemicals market size was valued at USD 31.95 billion in 2024 and is projected to grow from USD 33.80 billion in 2025 to USD 53.07 billion by 2033, exhibiting a CAGR of 5.8% during the forecast period (2025- 2033).
• The global fluorochemical market is experiencing growth due to its rising demand in refrigeration, electronics,
pharmaceuticals, and automotive applications.
• The rapid expansion of fluorochemicals is primarily attributed to their essential role in modern refrigeration and air- conditioning technologies. Fluorochemicals are key refrigerants facilitating energy-efficient cooling, particularly hydrofluorocarbons (HFCs) and hydrofluoroolefins (HFOs).
Source: straitsresearch
16
India Fluorochemicals Market
Market Size in USD Billion
227
204
154
218
245
302
350
480
416
655
570
2018
2019
2020
2021
2022
2023
2024F
2025F
2026F
2027F
2028F
•
•
•
•
India Fluorochemicals Market size was valued around USD 622 million in 2022 & is estimated to grow at a CAGR of about 10.24% during the forecast period, i.e., 2024-29. The electronics industry relies heavily on variety of Fluorochemicals for applications such as wire and cable insulation, semiconductor manufacturing, and serving as dielectric materials. The government of India is aiming to boost its industrial manufacturing by 2030, as part of its 'Make in India' initiative, by focussing on various sectors, with a special emphasis on electronics, renewable energy equipment, and electric vehicles (EVs). India’s organic growth in the consumption of electronics, coupled with the Government’s target of achieving USD 300 billion worth of domestic electronics manufacturing by 2025–26.
Source: marknteladvisors
17
Cross Industry Market Opportunities
1. Air Conditioners & Refrigerators Industry:
• Market Size: The Indian air conditioning market was valued at approximately USD 5.32 billion in 2024. • Projected Growth: Expected to reach USD 19.61 billion
by 2033.
• CAGR: Anticipated growth rate of 15.60% from 2025
to 2033.
Source: imarcgroup
2. Fire Fighting Equipment Industry:
• Market Size: The Indian fire protection system market
generated revenue of USD 1,948.0 million in 2024. • Projected Growth: Expected to reach USD 3,455.1
million by 2030.
• CAGR: Projected at 10% from 2025 to 2030. Source: grandviewresearch
3. Semiconductor Manufacturing Industry:
• Market Size: Valued at USD 34.5 billion in 2023. • Projected Growth: Expected to grow to USD 103.4
billion by 2030.
• CAGR: Estimated at 13% through 2030. Source: ET
4. Pharmaceuticals and Medicals Industry:
• Market Size: Valued at USD 61.36 billion in 2024. • Projected Growth: Expected to reach USD 174.31
billion by 2033.
• CAGR: Projected at 11.32% from 2025 to 2033. Source: imarcgroup
5. Glass Bottle Manufacturing Industry:
• Market Size: The Indian glass manufacturing market generated revenue of USD 1,505.8 million in 2021. • Projected Growth: Expected to reach USD 2,810.4
million by 2030.
• CAGR: Estimated at 7.2% from 2022 to 2030. Source: grandviewresearch
6. Aerosols and Sprays Industry:
• Market Size: The Indian aerosol market generated
revenue of USD 2,028.1 million in 2023.
• Projected Growth: Expected to reach USD 3,481.3
million by 2030.
• CAGR: Projected at 8% from 2024 to 2030. Source: grandviewresearch
7. Automobile Manufacturing Industry:
• Market Size: The Indian automotive industry had a turnover of approximately USD 240 billion in 2024.
Source: pib.gov
18
THE WAY FORWARD
Strategies Fueling Scalable Growth
Product Expansion
•
•
•
HFO debulking and HFO/HFC blending facility planned at Mambattu Focus on environmentally friendly gases like HFOs and specialty gases Leveraging expertise in complex chemicals and engineering
Innovation Focus
•
•
•
Continuous development addressing evolving market needs Alignment with sectors like Semiconductors, Electronics, Defense etc Commitment to providing cutting- edge solutions that exceed customer expectations
Geographic Expansion
•
•
Strategic domestic expansion targeting areas with high industry concentration Optimizing facility utilization to enhance cash flows
Customer Relationship Management
•
•
•
Focused CRM approach to understand, satisfy and retain customers Building trusted partner status to increase customer lifetime value Providing reliable, cost-effective solutions beyond base products
20
Initiatives Powering the Next Growth Chapter
Expanding Industrial Footprint
Innovative Product Portfolio
•
Establishing a state-of- the-art HFO blending facility in Mambattu, Andhra Pradesh
• Developing specialty and
semiconductor gas capabilities at the Khalapur facility to address India's emerging technology needs • Building capacity to
process 1,200 metric tons of liquid helium per annum, positioning as one of India's leading suppliers
• Specializing in liquid helium supply for advanced applications including semiconductors, solar cells, and fiber optic cables
• Diversifying into environmentally responsible HFOs (Hydrofluoroolefins) – next-generation refrigerants with minimal environmental impact Expanding specialty gas offerings to serve high- growth technology sectors
•
Financial Outlook
Competitive Advantages
•
•
Expecting to grow on 30- 35% CAGR for next 3 years with maintaining sustainable margin across the period Implementing strategic initiatives to see backward integration and higher value products like semiconductor gases to enhance profitability by 3-4%
•
Leveraging established market reputation and customer trust
•
• Maintaining strong forward- end presence in distribution and logistics Efficient inventory planning and management to hedge against high volatile market conditions
• Cultivating long-term
•
partnerships across rapidly growing industrial sectors Investing continuously in innovation and advanced technologies to maintain market leadership
Market Adaptation Strategies
•
Addressing diverse regional needs through optimized product offerings
• Managing supply chain
•
challenges through strategic raw material procurement Expanding into specialized market segments with improved margin potential
21
FINANCIAL OVERVIEW
Key Financial Metrics
Total Revenue (In Rs Cr)
EBIDTA (In Rs Cr)
PAT (In INR Crs)
43.04
379.47
49.74
26.55
1.11%
26.86
235.32
0.38%
236.23
32.33
16.23
-4.65%
14.79
FY23
FY24
FY25
FY23
FY24
FY25
FY23
FY24
FY25
PAT (Excluding Provision)
PAT
EBIDTA Margin (%)
13.11%
PAT Margin (%)
8.52%
6.90%
6.55%
11.28%
11.37%
ROCE and ROE (%)
26.07%
20.89%
13.48%
12.35%
16.00%
10.75%
FY23
FY24
FY25
FY23
FY24
FY25
FY23
FY24
FY25
ROCE (%)
ROE (%)
Note: FY25 PAT includes INR 10.71 Cr provision towards settlement of an old claim; excluding this, PAT would be INR 43.04 Cr, respectively.
23
Key Financial Metrics
Total Revenue (In Rs Cr)
EBIDTA (In Rs Cr)
153.15
20.31
14.33
67.97
85.15
PAT (In Rs Cr)
13.27
9.79
Q2FY25
Q3FY25
Q4FY25
Q2FY25
Q3FY25
Q4FY25
Q2FY25
Q3FY25
Q4FY25
2.36
0.85
EBIDTA Margin (%) 16.83%
13.25%
PAT Margin (%)
11.50%
8.66%
3.47%
1.25%
Q2FY25
Q3FY25
Q4FY25
Q2FY25
Q3FY25
Q4FY25
24
Q4 FY25 Consolidated Financial Performance
Particulars (In INR Cr)
Revenues
Other Income
Total Income
Raw Material Expenses
Employee costs
Other expenses
Total Expenditure
EBITDA
Finance Costs
Depreciation
PBT
Exceptional item
PBT after exceptional item
Tax
PAT
Total Comprehensive Income
EPS
Q4FY25
Q3FY25
Q-o-Q Change (In %)
151.56
1.59
153.16
119.04
5.50
8.31
132.85
20.31
1.75
0.30
18.26
0.00
18.26
4.99
13.27
13.29
1.76
85.15
0.00
85.15
62.39
2.25
6.18
70.83
14.32
1.73
0.30
12.30
0.00 12.30
2.51
9.79
9.79
1.59
77.99
NA
79.86
90.80
144.44
34.47
87.59
41.66
1.16
0.00
48.37
0.00 48.37
98.80
35.44
35.59
10.69
25
Profit & Loss Statement
Particulars (In INR Cr)
Revenues
Other Income
Total Income
Raw Material Expenses
Employee costs
Other expenses
Total Expenditure
EBITDA
Finance Costs
Depreciation
PBT
Exceptional item
PBT after exceptional item
Tax
PAT
Total Comprehensive Income
EPS
FY23
225.50
9.82
226.06
189.62
1.38
17.76
208.77
26.55
0.73
1.54
24.29
0.00
24.29
8.06
16.23
16.23
2.94
FY24
233.24
2.99
236.23
186.75
1.91
20.71
209.37
26.86
4.15
1.11
21.59
0.00 21.59
6.12
15.47
15.48
2.65
*Note:FY25 PAT includes INR 10.71 Cr provision towards settlement of an old claim; excluding this ,PAT would be INR 43.04 Cr, respectively. .
FY25
377.45
2.02
379.47
287.27
8.60
33.87
329.73
49.74
6.15
1.17
42.43
0.00 42.43
10.10
32.33*
32.35
4.98
26
Balance Sheet
Equities & Liabilities (In INR Cr)
Equity
Reserves
Non Controlling Interests
FY23
55.13
22.57
FY24
61.47
63.80
FY25
79.33
221.52
Assets (In INR Cr)
Non Current Assets
Fixed assets
Net Worth
77.69
117.96
300.84
Non Current Liabilities
Non Current Borrowings
Lease Liabilities
Deferred Tax Liability
Long Term Provision
Total Non Current Liabilities
Current Liabilities
Current Borrowings
Lease Liabilities
Trade Payables
Current Tax Liabilities (Net)
Short Term Provisions
Other Current Liabilities
Total Current Liabilities
Total Liabilities
0.00
0.00
0.00
0.32
0.00
0.32
18.27
0.00
23.77
0.00
8.46
0.32
0.00
0.30
0.00 0.00
0.30
0.30
65.35
0.00 3.74
0.00 0.04
5.31
0.00
0.34
0.00 0.00
0.00
0.34
2.43
0.00 21.30
0.00 0.04
8.71
50.82
128.84
74.43
200.00
32.49
333.67
Non Current Investments
Other Non Current Financial Assets
Deferred Tax Assets (Net)
Other Non Current Assets
FY23
FY24
FY25
12.88
0.00
0.00
0.00
0.01
13.72
0.00
0.00
0.74
0.00
17.21
0.00
0.00
9.47
0.00
Total Non Current Assets
12.88
14.46
26.68
Current Assets
Inventories
Trade receivables
Cash & Bank Balance
Other Current Financial Assets
Current Tax Assets (Net)
Other Current Assets
Total Current Assets
Total Assets
41.60
43.54
15.29
9.46
0.00
6.08
90.96
100.84
71.04
17.07
0.04
0.00
6.44
105.54
75.01
0.06
0.00
25.54
115.96
185.54
306.99
128.84
200.00
333.67
27
Stock Data
Share Performance From 23-01-2025 to Till Date
NSE:
As on 15-05-2025
No.of Shares
Close Price
125.99
900 000
800 000
700 000
600 000
500 000
400 000
300 000
200 000
100 000
0
Source: BSE
72.8
140
120
100
80
60
40
20
0
Share Price ₹
72.80
Market Capitalization ₹ Cr
518.39
No. of Share Outstanding
7,93,25,254
Face Value ₹
52 Week High ₹
52 Week Low ₹
10.00
125.99
59.91
Shareholding Pattern
As on 31-03-2025
32.10
Promoter & Promoter Group
67.90
Public
28
THANKYOU
Stallion India Fluorochemicals Limited
Confideleap Partners
2A, Knox Plaza , Mindspace , Off Link Road , Malad West, Mumbai, Maharashtra 400064. INDIA. Phone: 022-43510000 Email: sf@stallion.in Website: www.stallionfluorochemicals.com
103-8, Lodha Eternis, MIDC, Andheri East, Mumbai 400093 Maharashtra, India. Phone: +91 85911 45959 Email: info@confideleap.com Website: www.confideleap.com