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Neogen Chemicals Ltd share Price Today

Company details

1,449.00
1,515.00
1,176.00
1,859.30
6M Return -1.01%
1Y Return -3.02%
Mkt Cap.(Cr) 3,954.00
Volume 43,269
Div Yield 0.13%
OI
-
OI Chg %
-
Volume 43,269

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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
Q3FY23

    Numbers were marginally in line with our estimates on the revenue front while EBITDA came in below estimates due to lower GPM.

    • Reported revenue growth of 40% YoY to ₹ 186.3 crore, led by higher growth from both organic chemicals ₹ 136 crore (up 29% YoY) and inorganic chemicals ₹ 50.3 crore (up 86% YoY)
    • Gross margins fell 91 bps YoY to 43.2% while EBITDA margin declined 177 bps YoY to 16.2%. Absolute EBITDA was up 27% YoY to ₹ 30.1 crore
    • PAT increased 41% YoY to ₹ 14.8 crore

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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

View Other Company Results

Neogen Chemicals Ltd shares SWOT Analysis

Strengths (7)

  • Strong Momentum: Price above short, medium and long term moving averages
  • Rising Net Cash Flow and Cash from Operating activity
  • Growth in Net Profit with increasing Profit Margin (QoQ)

Weakness (3)

  • MFs decreased their shareholding last quarter
  • Inefficient use of assets to generate profits - ROA declining in the last 2 years
  • Low Piotroski Score : Companies with weak financials

Opportunity (1)

  • RSI indicating price strength

Threats (2)

  • High PE (PE > 40)
  • Increasing Trend in Non-Core Income

Resistance and support

R1 1,526.2
R2 1,553.6
R3 1,592.2
Pivot

1,487.58

S1 1,460.2
S2 1,421.6
S3 1,394.2
EMA SMA
1,454.3
1,423.5
1,422.6
1,449.2
1,465.4
1,392.1
1,386.8
1,497.7
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
GRAVITON RESEARCH CAPITAL LLP Bulk Purchase 2023-04-12 1654.79 148944 NSE
GRAVITON RESEARCH CAPITAL LLP Bulk Sell 2023-04-12 1655.54 148944 NSE
GRAVITON RESEARCH CAPITAL LLP Bulk Purchase 2023-04-11 1558.91 127438 NSE
Name Category Shares
Haridas Thakarshi Kanani PROMOTER 45.11%
Harin Haridas Kanani PROMOTER 7.58%
Pallika Haridas Kanani PROMOTER 3.78%

OUR RESEARCH VIEW

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

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

Neogen Chemicals Ltd Stocks COMPARISON

Financials( in Cr) Neogen Chemicals Ltd Pidilite Industries Ltd Linde India Ltd SRF Ltd Gujarat Fluorochemicals Ltd
Price 1,498.75 2,998.80 9,144.85 2,223.10 3,048.40
% Change 3.47 -1.26 8.67 -0.71 -1.04
Mcap Cr 3,954.00 152,521.67 77,990.94 65,898.24 33,486.67
Revenue TTM Cr 686.18 11,799.10 3,135.52 14,870.25 5,684.66
Net Profit TTM Cr 49.97 1,288.87 538.06 2,162.34 1,323.05
PE TTM 111.12 85.58 179.47 49.29 76.94
1 Year Return -3.02 16.10 129.94 -12.28 -8.89
ROCE 13.01 24.24 16.29 21.98 29.38
ROE 10.84 18.93 14.70 22.89 27.07
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 482.52 Cr FV: 10.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 39,641.00 -26,315.30
LAST 3M 112,356.80 -35,490.78
LAST 6M 175,524.06 28,431.26
LAST 12M 275,282.89 115,769.27

Neogen Chemicals Ltd Information

Stock PE (TTM)
111.12
Promoter Holding
56.89%
Book Value
288.1893
ROCE
13.01%
ROE
10.84%
Description
  • 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.

Registered Address

1002 10th Flr Opp Cadbury Junc, Dev Corpora Bldg Off Pok RdNo2, Thane, Maharashtra, 400601

Tel : 91-22-2549 7300
Email : investor:neogenchem.com
Website : http://www.neogenchem.com
Registrar

Link Intime India Pvt Ltd

AGM Date (Month) : Sep
Face Value Equity Shares : 10
Market Lot Equity Shares : 1
BSE Code : 542665
NSE Code : NEOGEN
Book Closure Date (Month) : Aug/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 May 30, 2024 03:44 PM the closing price of Neogen Chemicals Ltd was Rs.1,498.75.

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 May 30, 2024 03:44 PM, the market cap of Neogen Chemicals Ltd stood at Rs. 3,954.00.

The latest PE ratio of Neogen Chemicals Ltd as of May 30, 2024 03:44 PM is 111.12

The latest PB ratio of Neogen Chemicals Ltd as of May 30, 2024 03:44 PM is 0.19

The 52-week high of Neogen Chemicals Ltd share price is Rs. 1,859.30 while the 52-week low is Rs. 1,176.00

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

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