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Stock Analysis

Description

Neogen Chemicals Limited is a manufacturer of bromine and lithium-based specialty chemicals, serving pharmaceutical, agrochemical, and engineering industries.

Key Growth Triggers

Strategic expansion into the high-growth lithium-ion battery materials market.
Joint venture with Morita Chemicals for solid LiPF6 salt production.
Sustained growth in its core bromine and lithium-based chemical compounds business.

Order Book

Currently no data available for Order Book.

Key Red Flags

Currently no data available for Key Red Flags.

Key Dates To Watch

Currently no data available for Key Dates To Watch.

Corporate Announcements

15th Apr 26

Impact Rating: 7

Neogen Chemicals promoter Dr. Harin Haridas Kanani has pledged 20,19,167 equity shares, representing 7.65% of the paid-up capital, on April 13, 2026, to aid borrowing for Cadamba Solutions Private Limited.

15th Apr 26

Impact Rating: 7

Axis Trustee Services Limited, in its capacity as Debenture Trustee, has disclosed the pledge of 20,19,167 equity shares of Neogen Chemicals Limited, amounting to 7.65% of its total share capital.

1st Apr 26

Impact Rating: 7

Promoter Dr. Harin Haridas Kanani has pledged 13,19,083 Neogen Chemicals equity shares (5% of paid-up capital) to facilitate borrowing by promoter group member Cadamba Solutions Private Limited.

30th Mar 26

Impact Rating: 6

An Extra Ordinary General Meeting of Neogen Chemicals Limited saw shareholders overwhelmingly approve the issuance of equity shares on a preferential basis to a promoter group member, with voting concluding March 29, 2026.

29th Mar 26

Impact Rating: 8

Neogen Chemicals held its EGM on March 29, 2026, approving a preferential issuance of equity shares to the promoter group. Voting results are due within 48 hours.

Peer Comparision

S.No.	Name	Current Price (Rs.)	Price to Earning	Market Capitalization (Rs.Cr.)	Dividend yield (%)	Net Profit latest quarter (Rs.Cr.)	YOY Quarterly profit growth (%)	Sales latest quarter (Rs.Cr.)	YOY Quarterly sales growth (%)	Return on capital employed (%)	Sales (Rs.Cr.)	OPM (%)	Profit after tax (Rs.Cr.)	Profit after tax latest quarter (Rs.Cr.)	Price to book value	Return on assets (%)	Debt to equity
1.	Pidilite Inds.	1505.00	68.24	153165.96	0.66	584.60	8.36	3554.44	9.88	29.84	13817.59	23.31	2244.67	579.23	16.03	16.22	0.05
2.	Gujarat Fluoroch	3492.40	56.42	38364.01	0.09	179.00	47.93	1210.00	1.85	9.89	4864.00	26.89	680.00	179.00	5.04	5.51	0.23
3.	Navin Fluo.Intl.	5751.00	66.37	29472.50	0.21	148.37	152.24	758.42	46.26	11.68	2790.96	27.91	444.09	148.37	8.18	6.27	0.33
4.	Deepak Nitrite	1625.50	41.72	22170.69	0.46	118.75	-38.87	1901.89	-6.40	16.28	7874.86	11.16	531.41	118.71	4.02	9.86	0.23
5.	Atul	6182.50	33.57	18202.37	0.40	182.37	31.01	1551.85	11.42	12.81	5898.32	16.11	542.25	179.24	3.08	7.48	0.03
6.	BASF India	3898.00	43.86	16872.74	0.51	101.05	-21.02	3904.04	-8.09	18.02	14603.55	4.17	384.69	101.05	4.42	6.07	0.04
7.	Vinati Organics	1614.80	36.01	16739.93	0.46	129.02	21.59	546.27	-1.27	20.61	2258.65	29.70	464.92	129.02	5.64	13.64	0.00
8.	Neogen Chemicals	1110.10	59.27	2928.63	0.09	9.31	-37.35	206.68	7.01	10.68	795.42	18.66	49.41	9.31	3.53	3.83	0.94
–	Median: 92 Co.	292.48	28.49	878.14	0.32	7.6	3.25	134.38	5.61	15.16	512.22	13.09	26.07	7.6	2.76	7.88	0.11

Quarterly Results

Standalone figures in ₹ crores

	Dec 2022	Dec 2023	Dec 2024	Jun 2023	Jun 2024	Jun 2025	Mar 2023	Mar 2024	Mar 2025	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales	186.25	164.47	200.41	170.12	176.34	184.58	203.92	210.30	203.75	148.12	168.24	193.14	206.68
Expenses	156.11	142.55	162.76	140.67	144.52	149.90	171.33	172.31	162.58	123.87	142.00	156.65	171.73
Operating Profit	30.14	21.92	37.65	29.45	31.82	34.68	32.59	37.99	41.17	24.25	26.24	36.49	34.95
Other Income	1.40	1.50	2.05	1.84	2.81	3.31	1.77	2.82	-10.91	0.50	1.87	2.24	4.37
Profit before tax	20.74	7.16	20.05	15.76	18.73	19.08	20.73	25.36	7.75	14.01	12.43	19.82	12.33
Tax %	29.07%	68.58%	28.13%	27.54%	25.57%	25.42%	30.87%	24.05%	33.03%	29.41%	26.47%	25.03%	24.49%
Net Profit	14.71	2.25	14.41	11.42	13.94	14.23	14.33	19.26	5.19	9.89	9.14	14.86	9.31
EPS in Rs	5.90	0.85	5.46	4.58	5.28	5.39	5.75	7.30	1.97	3.97	3.66	5.63	3.53

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	74	84	100	110	161	239	306	336	487	686	701	774	795
Expenses	62	71	86	90	132	196	248	272	401	575	585	627	647
Operating Profit	11	13	14	20	29	43	58	64	87	112	116	147	148
Other Income	0	1	0	0	1	1	0	1	1	5	8	-4	-1
Interest	5	5	5	8	10	12	12	14	19	29	42	51	64
Depreciation	1	1	1	1	2	3	5	7	12	16	23	26	24
Profit before tax	6	8	8	12	18	29	41	44	57	71	59	66	59
Net Profit	4	5	5	8	11	21	29	31	45	50	41	48	43
EPS in Rs	8.09	11.31	2.59	3.88	5.34	10.48	12.33	13.47	17.93	20.07	15.59	18.35	16.35
Dividend Payout %	25%	18%	77%	26%	19%	14%	16%	17%	15%	15%	13%	5%	–

Balance Sheet

Standalone figures in ₹ crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	4	4	20	20	20	20	23	23	25	25	26	26	26
Reserves	15	19	8	22	31	50	133	160	414	458	740	782	803
Borrowings	25	24	26	69	82	120	137	222	229	370	409	474	776
Other Liabilities	18	21	27	41	48	56	61	87	131	202	230	338	344
Total Liabilities	63	69	80	152	181	247	355	492	800	1,054	1,405	1,621	1,949
Fixed Assets	14	13	17	56	67	83	111	127	285	347	361	228	251
Gross Block	14.56	14.34	19.58	59.79	68.90	87.51	119.06	143.51	313.41	389.66	428.27	299.47	–
Accumulated Depreciation	0.92	1.15	2.15	3.46	1.85	4.69	8.52	16.80	28.28	42.21	67.65	71.47	–
CWIP	0	0	1	1	1	0	3	115	11	36	56	28	54
Investments	0	0	0	0	0	0	0	0	81	77	5	193	400
Other Assets	49	55	62	94	112	163	242	250	423	594	983	1,173	1,244
Total Assets	63	69	80	152	181	247	355	492	800	1,054	1,405	1,621	1,949

Cash Flows

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	3	9	9	0	12	-4	-34	83	1	-30	-134	199
Cash from Investing Activity	-1	-2	-4	-33	-13	-20	-29	-134	-146	-94	-129	-188
Cash from Financing Activity	-2	-6	-4	33	-0	24	62	51	188	100	226	-12
Net Cash Flow	0	1	0	1	-1	0	-1	-0	44	-25	-37	-2

Ratios

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	82	78	58	107	94	93	90	85	82	94	147	94
Inventory Days	173	178	190	228	192	188	257	211	258	275	353	265
Days Payable	117	120	130	177	141	111	71	122	131	147	134	220
Cash Conversion Cycle	138	136	117	158	145	169	276	174	209	223	366	138
Working Capital Days	140	140	126	67	49	63	96	67	111	80	190	169
ROCE %	26%	27%	26%	23%	23%	26%	22%	17%	14%	13%	10%	11%

Shareholding Pattern

Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	60.19%	60.18%	60.18%	60.18%	56.89%	56.89%	56.89%	51.22%	51.22%	51.22%	51.22%	51.22%
FIIs	3.99%	4.13%	4.30%	4.25%	4.51%	4.56%	4.65%	8.17%	7.73%	7.79%	7.35%	5.15%
DIIs	18.89%	20.01%	19.87%	20.25%	22.85%	22.14%	22.54%	22.48%	22.52%	22.75%	22.96%	25.22%
Public	16.93%	15.68%	15.63%	15.32%	15.75%	16.42%	15.93%	18.12%	18.51%	18.22%	18.45%	18.40%