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Neogen Chemicals Results: Latest Quarterly Results & Analysis

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Neogen Chemicals Ltd. 18 May 2026 15:44 PM
Result PDF

Q4FY26 & FY26 Result Announced for Neogen Chemicals Ltd.

Specialty Chemicals company Neogen Chemicals announced Q4FY26 & FY26 results

Consolidated Financial Highlights:

  • Consolidated Revenue from operations for Q4FY26 was Rs 246.56 crore, representing a QoQ increase of 12.06% from Rs 220.02 crore in Q3FY26 and a YoY increase of 21.57% from Rs 202.82 crore in Q4FY25.
  • For the full year FY26, consolidated Revenue from operations reached Rs 861.96 crore, showing a YoY growth of 10.85% compared to Rs 777.56 crore in FY25.
  • Consolidated Total Income for Q4FY26 stood at Rs 247.54 crore, which is a QoQ increase of 11.45% from Rs 222.11 crore and a YoY increase of 21.69% from Rs 203.41 crore.
  • Consolidated Net Profit for Q4FY26 was Rs 11.39 crore, reflecting a significant QoQ growth of 208.67% from Rs 3.69 crore and a YoY growth of 372.61% from Rs 2.41 crore in Q4FY25.
  • For the full year FY26, consolidated Net Profit stood at Rs 28.75 crore, a YoY decline of 17.46% compared to Rs 34.83 crore in FY25.

Standalone Financial Highlights:

  • Standalone Revenue from operations for Q4FY26 was Rs 248.63 crore, up by 15.32% QoQ from Rs 215.60 crore in Q3FY26 and up by 22.03% YoY from Rs 203.75 crore in Q4FY25.
  • For the full year FY26, standalone Revenue from operations was Rs 855.49 crore, registering a YoY increase of 10.58% from Rs 773.65 crore in FY25.
  • Standalone Total Income for Q4FY26 stood at Rs 252.50 crore, representing a QoQ increase of 14.85% from Rs 219.86 crore and a YoY increase of 22.34% from Rs 206.40 crore.
  • Standalone Net Profit for Q4FY26 was Rs 14.66 crore, marking a QoQ growth of 67.16% from Rs 8.77 crore and a YoY growth of 182.47% from Rs 5.19 crore.
  • For the full year FY26, standalone Net Profit was Rs 46.96 crore, a slight YoY decline of 3.00% compared to Rs 48.41 crore in FY25.

Business Highlights:

  • Segment Performance: The company operates in a single reportable segment, which is Specialty Chemicals, in accordance with Ind AS 108.
  • Dividend: The Board of Directors has recommended a final dividend of Rs 1 per equity share for the financial year FY26.
  • Preferential Allotment: The company issued and allotted 10,00,000 equity shares at a price of Rs 1,610 per share (including a premium of Rs 1,600) to Cadamba Solutions Private Limited, a Promoter Group member, aggregating to Rs 161 crore. These shares were listed on the NSE and BSE on April 18, 2026.
  • Neogen Ionics Limited (NIL) Project Updates: The wholly-owned subsidiary NIL has revised its project costs and timelines:
    • The Dahej - Phase 1 project has a projected cost of Rs 428 crore with a revised SCOD of February 2027.
    • The Pakhajan - Phase 2 project has a projected cost of Rs 1,367 crore with a revised SCOD of March 2027.
    • The total projected cost for these initiatives is Rs 1,795 crore.
  • Insurance Recovery: Following a fire incident at the Dahej SEZ Plant on March 5, 2025, the company received Rs 147.05 crore during the current year ended March 31, 2026. This amount includes Rs 140.00 crore as an on-account payment from the insurance company and Rs 7.05 crore from scrap sales.
  • ESOP Grants: On February 11, 2026, the Nomination and Remuneration Committee approved the "Tranche - II Grant" of 50,200 ESOPs to 55 eligible employees at an exercise price of Rs 1,183.14 per option.

Commenting on the Q4FY26 performance, Harin Kanani, Managing Director, Neogen Chemicals, said: “Demonstrating strong operational resilience, our Q4 & FY26 performance was robust against a challenging geopolitical backdrop. Growth was driven by high plant throughput and stable demand visibility across both our core and emerging applications. Input cost inflation, including packaging materials, remains mostly a pass-through for us, ensuring our core profitability remains protected. Underscoring our conviction in Neogen’s long-term growth trajectory and our strategic pivot into high-growth segments, the promoters have infused Rs 161 crore of capital to support our expansion plans.

In Battery Materials, Neogen Ionics continues to strengthen its position as one of the most reliable player within India’s evolving lithium-ion battery materials ecosystem, that aligns with India’s ‘Atmanirbhar Bharat’ vision. The Pakhajan Greenfield Project timelines remain unchanged (H1 FY27 for Electrolyte and H2 FY27 for Electrolyte Salts) and the specialized MUIS Electrolyte plant has successfully initiated the trial-run phase to ensure process stabilization. Our immediate focus centers on phased capacity ramp-up and customer qualification. Encouragingly, for Electrolyte Salts, provisional approvals have already been received from additional international customers, and final site audits are actively underway to transition them to commercial-ready supplies.

Looking ahead, FY27 is expected to be a transformative year for Neogen as we commission one of India’s largest greenfield facilities dedicated to Battery Materials at Pakhajan. Simultaneously, Neogen Ionics' Dahej plant also received 3 US-based electrolyte makers audit approval and will also scale up this year supported by improving demand visibility. Furthermore, our standalone operations are set to resume a normalized growth trajectory, aided by the replacement plant at Dahej expected to be commissioned by June 2026. Backed by these growth drivers, we remain confident of achieving revenues in the range of Rs 875– 950 crore in FY27, at standalone basis, considering MPP-5 full production from Q2 FY26.”

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Specialty Chemicals company Neogen Chemicals announced Q1FY26 results

  • Revenues stood at Rs 187 crore, higher by 4% YoY.
  • EBITDA for Q1FY26 is Rs 32 crore, higher by 2% YoY.
  • EBITDA Margin stood at 16.9%.
  • Profit after tax for Q1FY26 stood at Rs 10 crore. PAT largely mirrored operational performance.
  • Earnings per share (EPS) for Q1FY26 stood at Rs 3.89 per share (Rs 4.35 per share in Q1FY25) not annualised.

Haridas Kanani, Chairman & Managing Director, Neogen Chemicals said: "We delivered a resilient performance in Q1FY26, demonstrating the inherent strength of our diversified business model, even with our Dahej plant unavailable for the entire quarter due to the unfortunate fire. Volume-driven growth was propelled by our base business.

Additionally, Neogen Ionics began contributing by initiating Commercial Sales in both Electrolyte and Lithium Electrolyte Salts. Despite the prevailing soft pricing environment, we effectively maintained our performance showcasing the strength and agility of our business model.

Our strategic initiatives are moving forward with good momentum, as is our recovery from the fire incident. We have secured initial insurance claims and the rebuilding of our Dahej plant is progressing swiftly aiming for completion by next year. Concurrently, our greenfield facility at Pakhajan for Electrolyte and Lithium Salts is taking shape, with key milestones accomplished and vital equipment ordered. This project is a cornerstone of our future growth.

Looking ahead, our vision for Neogen Chemicals remains ambitious and clearly defined. The proposed JV with Morita is a testament to our long-term strategy, firmly positioning us in the rapidly growing battery chemicals sector. While we have adjusted our near-term revenue guidance to reflect current operational realities, our long-term trajectory is robust. We are confidently building a stronger, more diversified Company, ready to capitalize on future opportunities.”

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Specialty Chemicals company Neogen Chemicals announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Revenues stood at Rs 203 crore, reflecting a YoY growth of 2%.
  • EBITDA came in at Rs 36 crore, marking a 2% increase compared to the previous year.
  • Profit Before Tax (PBT) was Rs 18 crore, showing a decline of 21% YoY.
  • Adjusted Profit Before Tax amounted to Rs 4 crore, representing a sharp drop of 84% YoY.
  • Profit After Tax (PAT) stood at Rs 2 crore, down by 86% YoY.

FY25 Financial Highlights:

  • Revenues were Rs 778 crore, reflecting a YoY growth of 13%.
  • EBITDA amounted to Rs 136 crore, up by 24% YoY.
  • Profit Before Tax (PBT) was Rs 64 crore, showing an increase of 22% YoY.
  • Adjusted Profit Before Tax stood at Rs 50 crore, marking a decline of 5% YoY.
  • Profit After Tax (PAT) came in at Rs 35 crore, down by 2% YoY.

Commenting on the Q4FY25 performance, Haridas Kanani, Chairman & Managing Director, Neogen Chemicals said: "We have closed FY25 on a strong note, achieving 13% revenue growth & 24% improvement in EBITDA. We accomplished this against a difficult & challenging global industry backdrop. This led to weak pricing, despite some pockets of domestic demand resilience. In addition, our Dahej plant was not fully operational towards the end of Q4 due to the fire incident. Our solid performance was a result of our ability to swiftly adapt to a challenging environment by strategically pivoting towards product applications that had favorable demand.

Concerning the recent fire incident at our Dahej plant, I would like to reassure all our stakeholders that this is just a temporary setback. With our dedicated team and unwavering resolve, we are confident we will not only overcome the setback but emerge stronger and more efficient. In fact, we have already begun construction of another plant at an adjacent location at the same site which will replace the existing plant.

We are making strong progress on the Neogen Ionics' Lithium Salts and Electrolytes project. As several domestic battery manufacturers are set to commence production in FY26, boosting demand for battery materials, we are also on track to commission, by the end of FY26, our greenfield Battery Materials facility, using MUIS technology.

While FY25 was a challenging year, the road ahead looks promising. Neogen Chemicals is well poised to leverage its expertise across multiple chemistries to drive sustained growth going forward. In addition to actively focusing on higher-value specialty chemicals, significant contribution from upcoming lithium-ion battery materials segment will further diversify our revenue streams and accelerate our growth trajectory.”

Result PDF

Specialty Chemicals company Neogen Chemicals announced Q3FY25 results

  • Revenues: Rs . 201.4 crore during Q3FY25, change 22% YoY.
  • EBITDA: Rs 34.6 crore during Q3FY25, change 71% YoY.
  • PBT: Rs 15.3 crore during Q3FY25, change 263% YoY.
  • PAT: Rs 10 crore during Q3FY25, change 844% YoY.

Haridas Kanani, Chairman & Managing Director, Neogen Chemicals, said: “Our Q3FY25 results demonstrate a robust recovery, with revenue up 22% and EBITDA up 71%. This growth is attributed to strong ramp-up in BuLi Chem and sustained growth in the base business volumes. Higher topline was achieved despite lower RM prices and resultant realizations acrossseveral product categories. New product launches and the pursuit of export opportunities drove the robust recovery. To mitigate the persistent slowdown in agrochemicals, we have strategically created additional end-use sectors such as semiconductors, flavors & fragrances and select industrial CSM opportunities. This highlights the adaptability of our agile business model, enabling us to meet evolving market needs and capitalize on emerging opportunities.

Neogen Ionics is rapidly advancing its Lithium Salts and Electrolyte projects. A major ACC battery manufacturer has already started trial production plant in India, with several others preparing to do so within the next two years. This will drive their demand for local procurement of both Electrolyte and Lithium Salt. Meanwhile, we are supplying products from our initial capacity to potential manufacturers, aiming to establish long-term customer partnerships. We are on schedule to commission our greenfield Battery Materials facility in the second half of FY26. This facility, using MUIS technology, is taking shape with majority of erection and engineering works now complete. The modular construction process is proceeding with equipment assembly and installation.

Overall, we are confident of achieving FY26 revenue guidance of Rs 950-1,000 crore in the standalone business. Beyond FY26, the rapid scale up in Neogen Ionics will drive consolidated performance. We maintain a long-term growth strategy, undeterred by short-term setbacks. Neogen Chemicals remains committed to capitalizing on emerging opportunities to generate sustained value for all stakeholders.”

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Specialty Chemicals company Neogen Chemicals announced Q2FY25 results

  • In Q2FY25, revenue was higher by 20% to Rs 193 crore fueled by increased volumes in the core business, coupled with incremental contribution from BuLi Chem.
  • EBITDA stood at Rs 35 crore, an increase of 33% YoY.
  • Profit after Tax (PAT) grew by 38% to Rs 11 crore.
  • Earnings per share (EPS) for Q2FY25 stood at Rs 4.15 per share (Rs. 3.17 per share in Q2FY24).

Haridas Kanani, Chairman & Managing Director, Neogen Chemicals, said: “We have delivered a strong performance during the period under review amid a challenging backdrop of events marked by soft demand, oversupply situation, geopolitical tensions and inflationary pressures, which have eroded industry’s pricing power and profitability. Our 20% revenue improvement and 38% PAT growth in Q2FY25 is a testament to our team's unwavering dedication, adaptability, and ability to navigate challenging market conditions. Volume gains in the base business as well as contributions from BuLi Chem and Neogen Ionics fostered consolidated performance.

Through Neogen Ionics, we are making deep inroads in the Battery Materials business. Through our collaborative efforts, we have developed and exchanged multiple recipes of Electrolyte & Lithium Salt combinations with our customers. While doing so, we have gained valuable insightsinto the technological capabilities and market expertise. Our pilot production lines are currently manufacturing and shipping commercial trial lots, while the initial commercial production facilities are operational and fulfilling early market demand. Stringent quality standards are being maintained through strict adherence to safety protocols. The construction of our dedicated greenfield Battery Materials plant in Dahej using MUIS technology license is advancing steadily & remains on expected timelines. We are strategically phasing the commissioning process aligning with Battery capacities coming in India.

While we anticipate a potential demand recovery later in FY25, we are committed to investing in our long-term growth strategy to secure our future. In the face of global economic uncertainty, we at Neogen Chemicals are adapting to changing conditions, and remain steadfast in our commitment to growth, innovation, and delivering value to ourstakeholders.”

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Speciality Chemicals company Neogen Chemicals announced Q1FY25 results:

  • In Q1FY25, revenue was higher by 9% to Rs 180.0 crore despite challenging operating scenario.
  • EBITDA stood at Rs 30.8 crore, an increase of 10% YoY. This improved despite higher employee costs and other expenses, in-line with capacity build up efforts in Neogen Ionics.
  • Margins were maintained at 17.1% YoY led by operational efficiencies, even as pricing pressures continued across key products.
  • Profit after Tax (PAT) grew by 18% to Rs 11.5 crore. PAT performance reflects the strong operating trend, further boosted by lower tax rate. Depreciation and interest expenses are expected to rise with accelerated CAPEX trajectory in Battery Chemicals.
  • Earnings per share (EPS) for Q1FY25 stood at Rs 4.35 per share (Rs. 3.92 per share in Q1FY24).

Commenting on the Q1FY25 performance, Haridas Kanani, Chairman & Managing Director, Neogen Chemicals said: “We are pleased to report 9% revenue growth and 18% PAT improvement this quarter. This was driven by gradual demand recovery with better volumes amid soft pricing. Effective supply chain management amidst logistical challenges strengthened customer relationships. Both BuLi Chem and Neogen Ionics contributed positively to the overall consolidated performance.

Our growth initiatives are on track, with initial capacities for Lithium Electrolyte Salts and Electrolytes now operational. We are shipping Lithium Saltsto global customers commercially, while Electrolytes are in trial production with commercial quantities aligned with upcoming cell production capacities in India. These efforts provide valuable market insights for our upcoming greenfield plant using MUIS technology, where construction has commenced. I am glad to share that we are one of the first companies in India whose Electrolyte supplied from the commercial plant is meeting global standards. We are proud to support India’s efforts for self-reliance in Lithium-ion battery manufacturing.

To mitigate current agchem market challenges in the existing business, we are looking at nonagchem opportunities until the global agchem market recovers and remain confident of achieving Rs 900-1,000 crore in revenues in FY26 based on anticipated recovery in the later half of this financial year.

We are steadily recovering from the ongoing macro challenges and anticipate stronger growth going ahead. Notwithstanding the current operating environment, we believe that Indian chemical industry is on the cusp of exponential growth in the long run. Neogen Chemicals will pursue all avenues to outperform and create enduring value for its stakeholders.”

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Speciality Chemicals company Neogen Chemicals announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA): EBITDA increased by 10% to Rs 36 crore.
  • Profit Before Tax (PBT): PBT saw a growth of 8% reaching Rs 22 crore.
  • Profit After Tax (PAT): PAT grew by 18%, amounting to Rs 17 crore.
  • Earnings Per Share (EPS): EPS stood at Rs 6.42 per share, compared to Rs 5.74 per share in Q4FY23.

FY24 Financial Highlights:

  • Revenue remained at Rs 691 crore despite a significant decrease in raw material prices.
  • Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA): EBITDA stood at Rs 110 crore, marginally down by 1% with an EBITDA Margin of 16%.
  • Profit Before Tax (PBT): PBT experienced a decrease of 26%, concluding at Rs 53 crore.
  • Profit After Tax (PAT): PAT was down by 29%, ending the year at Rs 36 crore.

Commenting on the Q4FY24 performance, Haridas Kanani, Chairman & Managing Director, Neogen Chemicals said, “Financial Year 2024 marked a significant milestone for Neogen Chemicals as we embarked on an accelerated growth trajectory, establishing a robust foundation to fuel India’s growing EV ecosystem. Strategic initiatives undertaken during the year such as acquisition of BuLi Chem, licensing agreement with MUIS, equity raise through preferential route and land acquisition by Neogen Ionics, were all aligned to position us for the future and accelerate our growth agenda. I want to express my appreciation to the entire Neogen family for their commitment and dedicated efforts to our shared goal and being part of this dynamic journey.

Our performance during the year mirrors the persistent global challenges experienced by industry, which had a detrimental effect on demand. This includes cheap dumping in India, inventory adjustments, military escalations, and logistical crisis, among others Our adaptable business model and manufacturing prowess enabled us to navigate through these obstacles and deliver a resilient performance.

We are making considerable progress in establishing our greenfield Battery Materials project. The plant design using MUIS, Japan technology has already been finalised and we have started issuing the PO’s. Construction work is expected to commence shortly, as we stay on track to commission this facility by H2 of FY2026. Once operational, it will position us as an important partner for EV battery manufacturers in the country. In the interim, we are building initial commercial capacities for both Electrolytes and Lithium Electrolyte Salts for immediate needs of the customers I am happy to share that we have started shipping small batches of Lithium Electrolyte Salts to global customers and Electrolytes to local customers, and the feedback regarding quality and efficacy has been positive.

Despite several macro challenges in the previous year, we foresee the present year to be more promising, considering the current pace of recovery. Our overarching goal is to capitalize on our fundamental strengths across multiple chemistries to consistently enhance value for all our stakeholders”

Result PDF

Neogen Chemicals announced Q2FY24 results:

  • In Q2FY24, revenue was Rs 161.7 crore, with a growth of 9% YoY. This was achieved despite the challenging external environment aggravated by global inventory destocking, the slowdown in key export markets, and geopolitical uncertainties among others. Recent capacity expansions, stable demand, and contributions from BuLi Chem supported the growth momentum.
  • EBITDA at Rs 25.9 crore was higher by 7% YoY. Growth in profitability was reflected by an improved product mix and a reduction in key input and RM costs.
  • Profit after tax (PAT) stood at Rs 7.9 crore, lower by 20% YoY compared to Rs 9.9 crore in Q2FY23. PAT was lower due to higher finance costs and depreciation related to ongoing CAPEX initiatives undertaken by the Company.
  • Strategic debt repayment from recent preference share proceeds will help lower the finance expenses in the near term.
  • Earnings per share (EPS) for Q2FY24 stood at Rs 3.17 per share (Rs. 3.95 per share in Q2FY23).

Commenting on the Q2FY24 performance, Haridas Kanani, Chairman & Managing Director, Neogen Chemicals said, “I am pleased to share that we have maintained a consistent performance despite persistent external headwinds that have adversely impacted the end-user demand. We achieved a 9% growth in revenues along with a 7% improvement in EBITDA on a YoY basis. Positive contributions from recently acquired BuLi Chem, rationalisation of key RM & input costs, along with efficient inventory management were notable drivers of performance during the quarter.

In a significant development, we recently raised ~Rs 253 crore through preferential allotment to leading institutional investors. I would like to express my appreciation for the trust placed in us and the support extended toward our future growth endeavors. We will carefully deploy these funds to establish a strong presence in the Battery Materials space while sustaining the growth momentum in the existing business.

We are rapidly progressing along the outlined growth path. BuLi Chem has started contributing and also achieved break-even. This will further ramp up as we move along. The contribution from value-added products is also increasing, and our endeavor is to add more complex products by leveraging our R&D expertise and manufacturing capabilities. Our efforts related to Battery Materials are advancing successfully. Our project using MUIS technology is evolving positively, and we are on schedule to finalize the design work by the end of this year. Our interactions with key customers for both Lithium Electrolyte Salts and Electrolytes are making good progress, and we are seeing strong interest from international customers, especially for Electrolyte Salts. We are confident of garnering a significant share as the transition to EVs gains momentum.

Overall, we are well poised to capitalize on the upcoming opportunities. Building upon the solid foundation, we remain steadfast in our pursuit to not only elevate our performance momentum but also consistently enhance value for our stakeholders.”

Result PDF

Specialty Chemicals company Neogen Chemicals announced FY23 results:

  • In FY23, revenues were at Rs 686.2 crore, with a growth of 41% YoY
  • EBITDA at Rs 111.6 crore in FY23 was higher by 29% on account of a positive mix change in the business
  • Profit after tax (PAT) stood at Rs 50.0 crore during FY23, higher by 12% compared to Rs 44.6 crore in FY22
  • Earnings per share (EPS) for FY23 stood at Rs 20.03 per share (Rs. 18.70 per share in FY22)
  • The Board has recommended a final dividend of Rs 3 per equity share for FY23 (Rs. 2.75 per equity share in FY22) subject to the approval of the shareholders
  • Collective CAPEX for all the new projects is ~Rs 450 crore
  • Debt to Equity will continue to remain below 1.25x

Commenting on the Q4FY23 & FY23 performance, Haridas Kanani, Chairman & Managing Director, Neogen Chemicals said: “I am happy to share that we have concluded the year on a strong note despite challenging operating scenario aggravated by continued volatility in input costs, disruption of global supply chains due to Russia Ukraine conflict and variations in foreign exchange rates among others. Amid all these headwinds, we demonstrated solid financial performance in FY23 steered by 41% growth in revenues and 29% expansion in EBITDA. More importantly, we reported the Highest-Ever revenues and PAT in the Company’s history propelled by a positive demand environment, the onset of several expansion initiatives, and the augmentation of the product portfolio. This is a testament of our commitment and perseverance towards building a solid foundation for the future.

FY23 was a momentous year for Neogen Chemicals as we charted ambitious growth plans for both existing as well as Battery Chemicals business and saw a lot of these initiatives take concrete shape. On one hand, we acquired 100% stake in BuLi Chemicals India Private Limited (“Buli Chem”) to strengthen our product offerings while on the other hand, we signed a landmark agreement with MUIS, Japan to acquire a manufacturing technology license for electrolytes in India. Both these events will significantly bolster our competitive position in the market and lay the roadmap for the future. We have markedly expanded our R&D prowess across several high-potential chemistries to offer deep value to our customers. Initiatives under the Battery Chemicals business are progressing well, and we are on track to achieve several milestones as per our internal forecasts.

The roadmap appears equally encouraging and we are ready to march to the next leg of growth that will demonstrate our manufacturing capabilities at scale as well as expertise in several complex chemistries. The industry is supportive, and the demand scenario continues to be favourable. Our objective is to continue on this profitable growth journey and deliver sustained value for our stakeholders.”

 

 

Result PDF

Neogen Chemicals announced Q3FY23 results:

  • Q3FY23 & 9MFY23:
    • Neogen Chemicals Limited (Neogen) reported strong financial performance during the quarter and nine months ended Q3FY23. In 9MFY23, the company delivered 46% growth in revenues, 32% increase in EBITDA and 23% growth in Profit After Tax (PAT).
    • In 9MFY23, revenues were at Rs 482.3 crore, with a growth of 46% YoY. Growth was strengthened by increased utilization of plants, driven by stable demand from key end-user industries. Efforts to expand the high-margin advanced intermediates and custom synthesis manufacturing business have begun to show positive results.
    • EBITDA at Rs 79 crore in 9MFY23 was up 32% in spite of the ongoing inflation in certain raw materials and utilities, strong EBITDA results were achieved through favorable management of product mix. The company experienced an increase in certain costs such as employee expenses, etc., consistent with management's plan to expand the workforce across departments.
    • The company delivered a healthy EBITDA performance mainly because it was able to pass on the significant cost increase in the prices of lithium raw materials to customers. As a result, the absolute EBITDA remained protected.
    • Profit after tax (PAT) stood at Rs 35.7 crore during 9MFY23, higher by 23% compared to Rs 29 crore in 9MFY22. The growth in PAT reflected the operational performance, moderately affected by high depreciation associated with new capacity additions and an increase in finance costs due to elevated interest rates.
    • Earnings per share (EPS) for 9MFY23 stood at Rs 14.29 per share (Rs 12.43 per share in 9MFY22).

Commenting on the Q3 & 9MFY23 performance, Mr. Haridas Kanani, Chairman & Managing Director, Neogen Chemicals said: “We registered solid performance trajectory in Q3FY23, bolstered by 40% YoY gains in revenue with healthy profitability, where both EBITDA and PAT increased by 27% and 40% YoY respectively. Our performance has been consistent, and we are witnessing accelerated built up in our business based on strong visibility and continued positive demand environment. Our capabilities in chosen chemistries are exceptional and well appreciated by our partner customers. In-line with our focus on high value-addition, we are scaling up revenues across both advanced intermediates and custom synthesis manufacturing as reflected in better profitability trends. This was achieved despite impact of continued high inflation in some input and utility costs during the period under review

Our expansion plans are ambitious, but modular in nature. Our intent is to cement our leadership position in the existing business, while garnering substantial market share in the high potential Lithium-ion battery chemicals space. All the strategic initiatives undertaken this quarter including new CAPEX announcements and forming a separate entity for battery chemicals business are steps in the right direction to gain early mover advantage, be future ready with capacities meeting demand and strengthening our technological expertise. All this will result in sustained valuecreation for our stakeholders. With this, I believe we have built a solid foundation for Neogen Chemicals to independently grow and self-sustain both its existing as well as battery chemicals businesses.

I am optimistic that these advancements will enable Neogen to achieve quantum leap in its earnings and demonstrate its manufacturing excellence to customers across the globe. A favourable demand outlook and India's emergence as a favored manufacturing hub will expand the market size and draw in additional customers along the value chain.”

Result PDF

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