Neogen Chemicals Limited has informed the Exchange about Transcript
NEOGEN · price
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Neogen Chemicals reported Q1 FY26 consolidated revenue of INR 186.7 crore, up 4% YoY, despite the Dahej plant being fully unavailable due to a fire incident. Organic revenue grew 16% to INR 165 crore, while inorganic (Neogen Ionics) contributed INR 5.4 crore. EBITDA rose 2% to INR 31.5 crore with margins of 18.8% standalone and 16.9% consolidated, and PAT stood at INR 10.3 crore. Management has received INR 80.55 crore of insurance claims so far, with INR 268.27 crore still receivable, and the replacement plant remains on track for next year. The company is deploying its INR 1,500 crore CAPEX (INR 506 crore done), formed a step-down subsidiary Neogen Morita New Materials (JV with Japan's Morita Chemical) for lithium salts, and approved a INR 200 crore NCD private placement for liquidity. Founder-Chairman Haridas Kanani retires Sept 30, 2025, with Anurag Surana taking over as Chairman. Base business guidance of INR 825-875 crore is maintained, and Neogen Ionics is targeting a INR 300 crore run rate with major ramp-up expected in H2 FY26.
Shareholders get a mixed picture: resilient revenue and margin performance despite a major operational setback, but the company is taking on additional debt (INR 200 crore NCD) and burning CAPEX to fund growth. Stock-relevant positives include the JV with Morita, the energy storage opportunity (30-40 GWh annually), and growing international interest from US/Korean/Japanese customers seeking China-free supply chains, though near-term Neogen Ionics revenue remains small and dependent on customer approval timelines.