Ajay Upadhyaya-Held Chemical Stock Signs Agreement with DRDO to Develop Indigenous Defence Chemical Technology

On Friday, Indian equity benchmark indices traded higher, with the benchmark Nifty 50 index rising 31.05 points, or 0.13 per cent, to 24,348.20. Amid the positive market sentiment, Navin Fluorine International share price gained 1.80 per cent to Rs 7,519.50 after the company signed an agreement with the Defence Research and Development Organisation (DRDO) under the Technology Development Fund (TDF) Scheme to develop indigenous bulk manufacturing capabilities for Sodium Borohydride, a critical chemical for defence applications.

Navin Fluorine International Ltd on July 30, 2026, said it has signed an agreement with India’s Defence Research and Development Organisation (DRDO) under the Technology Development Fund (TDF) Scheme to develop indigenous bulk manufacturing capabilities for Sodium Borohydride, a chemical identified as critical for defence applications.

The project, titled ‘Indigenous Manufacturing of Sodium Borohydride Chemical in Bulk,’ is aimed at accelerating domestic process development for the material. Under the agreement, DRDO will provide grant-in-aid and technological support to Navin Fluorine for developing the manufacturing technology.

DRDO, in a communication issued on its social media platform on July 30, 2026, stated: ‘Strengthening India’s indigenous defence capabilities, the Technology Development Fund (TDF) Scheme has awarded a project on “Indigenous Manufacturing of Sodium Borohydride Chemical in Bulk” to M/s Navin Fluorine International Limited. DRDO will provide grant-in-aid and technological support to the industry for developing this technology.

This collaboration will accelerate the indigenous process development for a critical defence material and further strengthen India's defence R&D ecosystem. #TDF #MakeInIndia #DefenceInnovation’

The collaboration is intended to support India’s push for self-Reliance in critical defence materials by fostering indigenous research, development and manufacturing capabilities. Sodium Borohydride has been identified as a strategic chemical for defence use, prompting the initiative under the TDF framework to promote industry participation in advanced technology development.

Navin Fluorine said it takes immense pride in collaborating with DRDO, Ministry of Defence, and contributing towards the Government of India’s ‘Make in India’ initiative. The company has also made the intimation available on its website.
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Ace investor Ajay Upadhyaya held a 1.01 per cent stake in Navin Fluorine International as of the June 2026 shareholding pattern.

About Navin Fluorine International 

Navin Fluorine International Ltd is an Indian specialty fluorochemicals manufacturer operating across High Performance Products, Specialty Chemicals and Contract Development and Manufacturing Organisation (CDMO) services. The company has four manufacturing facilities, including operations in Surat, Dewas and Dahej. 

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Disclaimer: The article is for informational purposes only and not investment advice.