Neogen Chemicals Limited has informed the Exchange regarding Change in Director(s) of the company.
NEOGEN · price
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Awaiting price reaction for this filing.
Neogen Chemicals' board approved Q1 FY26 (June 30, 2025) standalone revenue of Rs. 184.58 crores (up from Rs. 176.34 cr in Q1 FY25) and profit after tax of Rs. 14.23 crores (vs Rs. 13.94 cr); consolidated PAT was lower at Rs. 10.26 crores due to losses at subsidiary Neogen Ionics. The biggest news is the retirement of founder Mr. Haridas Kanani from the Chairman and Managing Director role effective September 30, 2025, after which he will hold the honorary title of 'Chairman Emeritus.' Anurag Surana (existing non-executive director) will take over as Chairman (non-executive), while Dr. Harin Kanani continues as Managing Director. The board also re-appointed Shyamsunder Upadhyay as Whole-Time Director and approved the appointment of T.C.N. Saikrishnan as Executive Director for 5 years. The 36th AGM is set for September 26, 2025, with September 19, 2025 as the record date for the FY25 final dividend. Separately, the company approved an additional Rs. 125 crore corporate guarantee for subsidiary Neogen Ionics and disclosed ongoing Rs. 254 crore insurance receivable from the March 2025 Dahej plant fire.
The exit of the founder-CMD after 35+ years is a sentimental negative for the stock, but continuity is preserved as his son Dr. Harin Kanani stays as MD and the founder remains as Chairman Emeritus. The Q1 numbers are steady, though subsidiary-level drag on consolidated profits is a watchpoint. Investors will look for smooth transition at the September 26 AGM where these changes need shareholder approval.