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Neogen Chemicals Ltd share Price

Company details

6M Return 21.06%
1Y Return 2.66%
Mkt Cap.(Cr) 3,892.60
Volume 30,271
Div Yield 0.19%
OI Chg %
Volume 30,271

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Growth momentum maintained; focus on new capex

About The Stock

    Commencing operations in 1991, Neogen Chemicals manufactures specialty organic bromine-based chemical compounds as well as specialty inorganic lithium-based chemicals compounds.

    • The company’s products find application in pharmaceutical intermediates, agrochemical intermediates, engineering fluids, polymers additives and water treatment chemicals, to name a few
    • Neogen has two segments viz. (i) organic chemicals, (ii) inorganic chemicals of which organic chemical constitute ~80% of overall revenue while the rest comes from inorganic chemicals

Q4FY22 Results

    The topline broadly stayed in line with our estimates while bottomline was higher due to lower taxes.

    • Reported revenue growth of 69.2% YoY to ₹ 156.8 crore, led by higher growth from both segments such as organic chemical (up 38% YoY) and inorganic chemical segment (up 176% YoY)
    • Gross margins declined 100 bps YoY to ~42.5% while EBITDA margin fell 300 bps YoY to 17%, due to higher RMAT cost such as lithium carbonate
    • EBITDA was up 44% YoY to ₹ 26.6 crore
    • PAT increased 68% YoY to ₹ 15.6 crore

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Neogen Chemicals Ltd.

FY23 Annual Result Announced for Neogen Chemicals Ltd.

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.”



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Investment recommendation

Growth momentum maintained; focus on new capex
Call Date
20 Feb 2023
Entry Price 1,295.00
Target Price 1,535.00
12-18 Month


Operating Profit
Profit after Tax
Reserves and Surplus
Operating Profit
Profit after Tax

Neogen Chemicals Ltd Stocks COMPARISION


Equity Capital: 439.24 Cr FV: 10.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 3,296.96 39,477.59
LAST 3M 15,440.75 59,034.02
LAST 6M 64,524.17 39,054.82
LAST 12M 119,831.70 83,752.26

Neogen Chemicals Ltd Information

Stock PE (TTM)
Promoter Holding
Book Value
  • Neogen Chemicals Limited was incorporated as a private limited company with the name Neogen Chemicals Private Limited` on March 7, 1989 in Thane, Maharashtra. Subsequently, pursuant to a special resolution passed by the shareholders of the Company on May 2, 1998, the Company was converted to a public limited company and the name of the Company was changed to Neogen Chemicals Limited` on July 2, 1998. Neogen is one of India`s leading manufacturers of bromine-based, and lithium-based, specialty chemicals. Specialty chemicals are those chemicals that impart different properties to a variety of products (i.e. the effect that specialty chemicals have varies based on the product) and have a high degree of value addition. Specialty chemicals are, also generally, in the Indian context, manufactured in smaller volumes when compared to non-specialty chemicals. Specialty chemicals, including bromine and lithium-based compounds, comprise pharmaceutical intermediates, agrochemical intermediates, engineering fluids, electronic chemicals, polymers additives, water treatment chemicals, construction chemicals and flavours and fragrances. Specialty chemicals are widely used for specialized applications to meet industry-specific requirements and can be classified based on application industries. Additionally, certain specialty chemicals find application in multiple industries. The Company manufactures specialty organic bromine-based chemical compounds (Bromine Compounds) and other specialty organic chemical compounds as well as specialty inorganic lithium-based chemicals compounds (Lithium Compounds and together with the Bromine Compounds the Products). The Company commenced its business operations in 1991, at Mahape, Navi Mumbai manufacturing facility with a few Bromine Compounds and Lithium Compounds. Over the years it has expanded its range of products and, presently, manufacture an extensive range of specialty chemicals which find application across various industries in India and globally. As on February 28, 2019, the company has manufactured an aggregate of 198 products comprising 181 organic chemicals and 17 inorganic chemicals. In addition to manufacturing its standard products, the company also undertakes custom synthesis and contract manufacturing. In custom synthesis the product is developed and customized primarily for a specific customer, but process know-how and technical specifications are developed in-house by the company. Further, it has, more recently, also commenced contract manufacturing where, the product is developed under confidentiality for a single customer using the process know-how and the technical specifications provided by the customer. Contract manufacturing has enabled the company to increase its bouquet of product offering. The Company differentiates itself in the contract manufacturing space by additionally offering process innovation, which, generally, reduces the overall operating costs for their customers. The Company operates out of its manufacturing facilities located in Mahape, Navi Mumbai in Maharashtra (Mahape Facility) and Karakhadi, Vadodara in Gujarat (Vadodara Facility). The Corporate office is located in Thane, Maharashtra. The Company is, presently, developing a green-field manufacturing unit in Dahej SEZ, in Gujarat (Proposed Dahej Facility) and are also proposing to expand its operations in Karakhadi, Vadodara (Proposed Vadodara Facility). Its manufacturing facilities in aggregate are spread across approximately 40 acres with an additional 12 acres of leased property in Dahej SEZ. Its manufacturing units at Vadodara and Mahape also contain research and development (R&D) units comprising a dedicated 20 member in-house team. Neogen Chemicals came out with an Initial Public Offering (IPO) of 6,155,813 equity shares of Face Value of Rs 10 each for cash at a price of Rs 215 per equity share (including a share premium of Rs 205 per equity share) aggregating Rs132.35 Crores. The offer comprises of a fresh issue of 3,255,813 equity shares aggregating Rs 70 crores by the company (fresh issue) and an offer for sale of 1,699,600 equity shares by Haridas Thakarshi Kanani (promoter selling shareholder) and 1,200,400 equity shares by Beena Haridas Kanani (promoter group selling shareholder, and along with the promoter selling shareholder aggregating Rs 62.35 Crores. The face value of equity shares is Rs 10 each. The IPO was priced at Rs 215 per share.

No Data Found

AGM Date (Month) : Sep
Face Value Equity Shares : 10
Market Lot Equity Shares : 1
BSE Code : 542665
Book Closure Date (Month) : Sep
BSE Group : A
ISIN : INE136S01016

FAQ’s on Neogen Chemicals Ltd Shares

You can buy Neogen Chemicals Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Neogen Chemicals Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Jun 02, 2023 03:59 PM the closing price of Neogen Chemicals Ltd was ₹ 1,560.85.

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Jun 02, 2023 03:59 PM, the market cap of Neogen Chemicals Ltd stood at ₹ 3,892.60.

The latest PE ratio of Neogen Chemicals Ltd as of Jun 02, 2023 03:59 PM is 77.78

The latest PB ratio of Neogen Chemicals Ltd as of Jun 02, 2023 03:59 PM is 0.12

The 52-week high of Neogen Chemicals Ltd is ₹ 1,729.95 while the 52-week low is ₹ 1,140.00

According to analyst recommendations, Neogen Chemicals Ltd has a “Buy” rating for the long term.

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