Earnings Call Transcript - Q4FY26.
NEOGEN · price
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Neogen Chemicals reported Q4FY26 revenue of INR 247 crore, up 22% YoY, with EBITDA of INR 44 crore at 17.8% margin and PAT of INR 11 crore. For FY26, consolidated revenue stood at INR 862 crore (+11% YoY) with EBITDA of INR 137 crore and PAT of INR 29 crore. The company raised INR 161 crore through promoter preferential allotment to fund battery materials expansion. Key projects are on track: Dahej replacement facility for June 2026 commissioning and Pakhajan Phase 2 for March 2027, though project costs increased due to Japanese technology integration. Neogen Ionics contributed INR 36 crore in FY26 and management targets over INR 300 crore in FY27 battery chemicals revenue, with the standalone business guided at INR 875-950 crore. Management maintains 18-20% ROCE guidance for battery projects.
The earnings call shows strong operational performance in legacy chemicals with 145% YoY growth in Inorganic Chemicals, while the strategic battery materials pivot remains on track with customer approvals progressing. The upward revision in capex and timeline adjustments reflect technology upgrades that strengthen long-term competitiveness. Promoter confidence demonstrated through INR 161 crore equity infusion.