Neogen Chemicals Limited has informed the Exchange that Board of Directors at its meeting held on May 16, 2026, recommended dividend of Re. 1 per equity share, subject to approval of shareholders at ensuing AGM.
NEOGEN · price
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Neogen Chemicals reported FY2026 standalone revenue of Rs. 855.49 crore, up 10.6% from Rs. 773.65 crore in FY25. However, profit after tax declined to Rs. 46.96 crore from Rs. 48.41 crore, with EPS falling to Rs. 17.81 from Rs. 18.35. The Board recommended a dividend of Rs. 1 per share for FY26, subject to shareholder approval at the 37th AGM. The Dahej SEZ plant fire incident (March 2025) continues to impact financials, with Rs. 188.96 crore insurance claim still outstanding. Subsidiary Neogen Ionics revised its Dahej and Pakhajan project cost upward to Rs. 1,795 crore with commercial operations now targeted for early 2027. The company also completed a preferential allotment of 10 lakh shares at Rs. 1,610 each to promoter group entity Cadamba Solutions in April 2026.
The 50% dividend cut (from Rs. 2 per share to Rs. 1 per share) signals potential capital conservation amid Dahej recovery costs and subsidiary expansion funding. Declining PAT despite revenue growth and increased project costs for the WOS subsidiary may weigh on investor sentiment near-term.