High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
Momentum: Stock price has a strong positive momentum. Stock is up 33.4% in last 30 days.
Smart Money: Smart money has been increasing their position in the stock.
Balance Sheet: Reasonably good balance sheet.
Technicals: Bullish SharesGuru indicator.
Past Returns: In past three years, the stock has provided 5.3% return compared to 9.8% by NIFTY 50.
Valuation | |
|---|---|
| Market Cap | 4.68 kCr |
| Price/Earnings (Trailing) | 236.95 |
| Price/Sales (Trailing) | 5.67 |
| EV/EBITDA | 38.51 |
| Price/Free Cashflow | -32.46 |
| MarketCap/EBT | 163.61 |
| Enterprise Value | 4.68 kCr |
Fundamentals | |
|---|---|
| Revenue (TTM) | 823.98 Cr |
| Rev. Growth (Yr) | 9.7% |
| Earnings (TTM) | 19.73 Cr |
| Earnings Growth (Yr) | -63.1% |
Profitability | |
|---|---|
| Operating Margin | 5% |
| EBT Margin | 3% |
| Return on Equity | 2.47% |
| Return on Assets | 0.86% |
| Free Cashflow Yield | -3.08% |
Growth & Returns | |
|---|---|
| Price Change 1W | 8.2% |
| Price Change 1M | 33.4% |
| Price Change 6M | 22% |
| Price Change 1Y | 17.2% |
| 3Y Cumulative Return | 5.3% |
| 5Y Cumulative Return | 14.7% |
| 7Y Cumulative Return | 31.4% |
Cash Flow & Liquidity | |
|---|---|
| Cash Flow from Investing (TTM) | -316.59 Cr |
| Cash Flow from Operations (TTM) | 195.98 Cr |
| Cash Flow from Financing (TTM) | 113.07 Cr |
| Cash & Equivalents | 11.32 Cr |
| Free Cash Flow (TTM) | -121.69 Cr |
| Free Cash Flow/Share (TTM) | -46.13 |
Balance Sheet | |
|---|---|
| Total Assets | 2.3 kCr |
| Total Liabilities | 1.5 kCr |
| Shareholder Equity | 799.8 Cr |
| Current Assets | 1.32 kCr |
| Current Liabilities | 836.7 Cr |
| Net PPE | 373.31 Cr |
| Inventory | 437.17 Cr |
| Goodwill | 0.00 |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.47 |
| Debt/Equity | 1.35 |
| Interest Coverage | -0.57 |
| Interest/Cashflow Ops | 4.82 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 1 |
| Dividend Yield | 0.08% |
| Shares Dilution (1Y) | 0.00% |
| Shares Dilution (3Y) | 5.8% |
Momentum: Stock price has a strong positive momentum. Stock is up 33.4% in last 30 days.
Smart Money: Smart money has been increasing their position in the stock.
Balance Sheet: Reasonably good balance sheet.
Technicals: Bullish SharesGuru indicator.
Past Returns: In past three years, the stock has provided 5.3% return compared to 9.8% by NIFTY 50.
Investor Care | |
|---|---|
| Dividend Yield | 0.08% |
| Dividend/Share (TTM) | 1 |
| Shares Dilution (1Y) | 0.00% |
| Earnings/Share (TTM) | 7.48 |
Financial Health | |
|---|---|
| Current Ratio | 1.58 |
| Debt/Equity | 1.35 |
Technical Indicators | |
|---|---|
| RSI (14d) | 81.5 |
| RSI (5d) | 92.93 |
| RSI (21d) | 86.36 |
| MACD Signal | Buy |
| Stochastic Oscillator Signal | Sell |
| SharesGuru Signal | Buy |
| RSI Signal | Sell |
| RSI5 Signal | Sell |
| RSI21 Signal | Sell |
| SMA 5 Signal | Buy |
| SMA 10 Signal | Buy |
| SMA 20 Signal | Buy |
| SMA 50 Signal | Buy |
| SMA 100 Signal | Buy |
Summary of Neogen Chemicals's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
In the Q3 FY26 earnings conference call, management of Neogen Chemicals provided a positive outlook amid ongoing global volatility. They reported a consolidated revenue growth of 9%, reaching INR 220 crore, and a gross profit increase of 13%, equating to a 150 basis points margin expansion. Key forward-looking points highlighted by management include:
Operational Improvements: The ramp-up at the Neogen Ionics facility is underway, contributing INR 12 crore for the quarter. This facility aims for full operational capacity by Q1 FY27.
Strategic Partnerships: Neogen has established a joint venture with Japan's Morita Investment Limited for LiPF6 salt production, with Neogen holding an 80% stake and a planned investment of $20 million from Morita. This initiative will position Neogen as India's only non-FEOC compliant electrolyte salt producer.
Pakhajan Greenfield Project: This project is set to initiate commercial production of electrolyte in H1 FY27 and electrolyte salts in H2 FY27. Management anticipates increased demand from India's ACC battery rollout.
Insurance Recoveries: Management reported insurance claims received of INR 83.48 crore to date, with expectations of an additional INR 200 crore soon. This includes both interim payments and claims related to the Dahej plant reconstruction.
Debt and Capital Infusion: They plan to raise up to INR 150 crore via a preferential share issue to the promoter group, intending to support growth initiatives.
Growth Ambitions: The management maintained guidance for battery chemicals revenue at INR 400 to INR 500 crore for FY27, sustaining confidence in achieving this target despite some delays in project timelines.
Overall, Neogen Chemicals is positioning itself to leverage growth in the battery chemicals market while ensuring improved operational efficiencies and strategic partnerships.
1. Question: Could we please start with the update on the gross and net debt balance at December 2025? Also, can we get some color on the working capital trends?
Answer: As of December 2025, our net debt is around INR 680 crore on a standalone basis and INR 1,175 crore on a consolidated basis. The increase in inventory and receivables is expected as we prepare for internal production in Dahej. As we ramp up and streamline operations in FY27, we anticipate targeting inventory levels of 140 to 160 days, while debtors would be maintained between 60 to 90 days, matching our creditors to ensure liquidity.
2. Question: Regarding the equity from Morita for the JV and the INR 150 crore from the Promoter, when do we expect to receive that?
Answer: We expect to receive around INR 60 crore from insurance as an interim payment within a week and the main claim of INR 150-170 crore before the end of March 2026. For the $20 million from Morita, regulatory permissions are being sought to separate the entities, and this is anticipated either by end of March 2026 or early April 2026. The INR 150 crore from the Promoter is also expected before the end of March 2026, pending regulatory approval.
3. Question: What is the status of the approvals for salt orders and when do we expect meaningful shipments?
Answer: Approvals are progressing, with major customer audits expected by June 2026. While we anticipate initial shipments to start from Q2 FY27, current demand, paired with trials and audits, suggests a ramp-up due in H2 FY27. We are targeting the Dahej site to be qualified by several customers by the end of Q1 FY27, leading to expected sales shortly after.
4. Question: Could you elaborate on the delay in the capacity addition at Dahej?
Answer: The timeline slipped to March 2026 due to team training with Morita and design changes for production efficiency. Implementing these improvements ensures that we maximize operational output, resulting in better performance post-commissioning. Completing these enhancements now is preferable to address any issues after initial production begins.
5. Question: How have Bromine prices affected our business and can you break down volume versus price?
Answer: The strong performance in Bromine prices has minimally impacted us due to our long-term contracts. However, we have experienced slight volume growth in some segments, influenced by product mix changes. The effect is not significant unless there is a dramatic price increase, as we maintain contractual stability.
6. Question: Can we expect double-digit revenue growth for the base business going into FY27?
Answer: Yes, we anticipate double-digit growth as we stabilize operations post-fire and leverage the fully operational Dahej plant. This contributes positively to both organic and inorganic segments, reinforced by the prevailing strong demand in our target markets.
7. Question: What guidance do we have for FY27 and FY28, considering delays?
Answer: Our guidance for battery chemicals remains unchanged at INR 400-500 crore for FY27, expecting major contributions from Dahej and initial salt sales from Pakhajan in Q4. For FY28, substantial revenue growth is anticipated, primarily driven by battery chemical demand.
8. Question: What is the strategy regarding the preferential issue from the Promoter?
Answer: The preferred INR 150 crore infusion will not only elevate the Promoter's stake but also support Neogen's operational needs, allowing us to navigate upcoming demands and maintain financial flexibility. Thus, the shareholdings will increase while enhancing working capital for our growth strategies.
These responses reflect strategic insights from Neogen Chemicals Limited's management during the earnings call. If there are any further questions or clarifications needed, feel free to ask!
Understand Neogen Chemicals ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| Haridas Kanani Family Trust (Beena Haridas Kanani and Harin Haridas Kanani) | 20% |
| Harin Haridas Kanani | 12.65% |
| Beena Kanani Family Trust (Haridas Thakarshi Kanani and Harin Haridas Kanani) | 10% |
| SBI Contra Fund | 8.85% |
| Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Small Cap Fund | 5.8% |
| Pallika Haridas Kanani | 3.78% |
| H T Kanani Family Trust (Beena Haridas Kanani and Pallika Haridas Kanani) | 1.9% |
| Beena Haridas Kanani | 1.42% |
| Haridas Thakarshi Kanani | 1.42% |
| Malabar India Fund Limited | 1.31% |
| Sundaram Mutual Fund A/C Sundaram Small Cap Fund | 1.28% |
| Shalu Aggarwal | 1.18% |
| Ashoka Whiteoak Icav - Ashoka Whiteoak India Opportunities Fund | 1.05% |
| National Insurance Company Ltd | 1% |
| Asha Deepak Dalal | 0.01% |
| Malia Harshida Kishor | 0.01% |
| Vanita Madhwani | 0.01% |
| Samika Kanani | 0% |
| Arun Gandhi HUF | 0% |
| R K Gandhi HUF | 0% |
Distribution across major stakeholders
Distribution across major institutional holders
Detailed comparison of Neogen Chemicals against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| AARTIIND | Aarti Industries | 17.6 kCr | 8.31 kCr | +15.10% | +8.20% | 41.99 | 2.12 | - | - |
| VINATIORGA | Vinati Organics | 14.46 kCr | 2.31 kCr | +8.70% | -13.80% | 32.65 | 6.26 | - | - |
| JUBLINGREA | Jubilant Ingrevia | 11.83 kCr | 4.3 kCr | +17.90% | +8.70% | 44.18 | 2.75 | - | - |
| ALKYLAMINE | Alkyl Amines Chemicals | 8.73 kCr | 1.57 kCr | +23.60% | +1.80% | 48.5 | 5.57 | - | - |
| BALAMINES | Balaji Amines | 4.82 kCr | 1.41 kCr | +39.00% | +19.70% | 33.61 | 3.41 | - | - |
Comprehensive comparison against sector averages
NEOGEN metrics compared to Chemicals
| Category | NEOGEN | Chemicals |
|---|---|---|
| PE | 236.95 | 45.75 |
| PS | 5.67 | 4.34 |
| Growth | 5.6 % | 6.4 % |
Neogen Chemicals Limited engages in the manufacture and sale of specialty chemicals in India. It offers organo bromine compounds, such as alkyl bromide compounds, dibromoalkane compounds, bromo chloro alkanes, bromine derivatives of organoacids, bromoacid ester compounds, aromatic bromine derivatives, cyclic bromine derivatives, and speciality bromo fluro derivatives; speciality chloro compounds, unsaturated bromine derivatives, bromo hydroxy derivatives, and other compounds; and organo lithium compounds, including n-butyl lithium, lithium hexamethyldisilazide, lithium tetrahydride borate, lithium diisopropylamide, lithium tri-(t-butoxy) aluminium hydride, hexyl lithium, methyl lithium, and phenyl lithium. The company also provides inorganic chemicals comprising inorganic bromine compounds and lithium salts; grignard reagents; and advance intermediates; as well as chemistries, such as alkylation, acylation, aminatin, oxidation, dehalogenation, silylation, halex reaction, friedel craft, couplings, and chlorination; custom synthesis; and contract manufacturing services. It serves pharmaceuticals, agrochemicals, engineering, electronics, polymers, water treatment, construction, aroma chemicals, flavours and fragrances, and specialty polymers industries, as well as vapour absorption chillers. The company also exports its products to 31 countries. Neogen Chemicals Limited was incorporated in 1989 and is based in Thane, India.
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NEOGEN vs Chemicals (2021 - 2026)