Neogen Chemicals Ltd.
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ABOUT
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AI GENERATEDChemicals
The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.
PROS
- Latest quarter profit grew 66.8% YoY, showing strong momentum
- Company has consistently been profitable over the last 5 years
- Company has delivered good sales growth of 20.7% CAGR over last 5 years
- Working capital cycle has improved - days down from 124 to 87
- Company has a consistent dividend-paying track record
CONS
- Company has a high debt-to-equity of 1.63x
- Operating cash flow has been negative in recent years
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on equity of 4.6% over last 3 years
- Company has a low return on capital employed of 8.0%
- Promoter holding has decreased over last 2 years: -3.9pp
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SOLARINDS | 22307.50 | 101.37 | 201860.69 | 0.05 | 666.37 | 88.98 | 3668.20 | 70.26 | 38.16 | 27.91 |
| PIDILITIND | 1567.45 | 60.23 | 159547.55 | 1.37 | 8835.10 | 1202.86 | 45515.50 | 1112.74 | 32.38 | 26.28 |
| SRF | 2483.00 | 34.05 | 73602.28 | 0.36 | 758.87 | 75.53 | 5033.26 | 34.63 | 14.21 | 24.57 |
| FLUOROCHEM | 4771.75 | 85.23 | 52417.67 | 0.06 | 219.00 | 19.02 | 1588.00 | 23.97 | 9.58 | 26.83 |
| NAVINFLUOR | 8541.10 | 55.49 | 43822.77 | 0.18 | 243.31 | 107.67 | 1045.08 | 44.07 | 21.39 | 34.17 |
| GODREJIND | 1127.00 | 32.29 | 37963.11 | 0.00 | 523.36 | -27.85 | 5448.09 | 22.16 | 10.64 | 12.82 |
| AETHER | 1672.95 | 94.41 | 22204.70 | 0.00 | 62.75 | 33.45 | 326.56 | 27.49 | 11.65 | 31.47 |
| DEEPAKNTR | 1587.10 | 27.64 | 21646.94 | 0.47 | 345.01 | 207.36 | 2577.60 | 36.39 | 11.58 | 20.96 |
| ATUL | 6244.55 | 23.11 | 18385.05 | 0.48 | 253.93 | 91.85 | 1847.95 | 25.03 | 15.05 | 21.41 |
| AARTIIND | 492.15 | 33.62 | 17851.59 | 0.20 | 155.00 | 260.47 | 2387.00 | 42.42 | 6.95 | 16.00 |
| DEEPAKFERT | 1320.45 | 17.00 | 16725.20 | 0.76 | 490.04 | 100.95 | 3256.26 | 22.47 | 12.12 | 25.96 |
| NEOGEN | 2366.40 | 182.22 | 6479.60 | 0.04 | 17.11 | 66.76 | 250.29 | 34.04 | 6.64 | 19.35 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 165 | 162 | 164 | 200 | 180 | 193 | 201 | 203 | 187 | 209 | 220 | 247 | 250 | |
| 137 | 136 | 144 | 164 | 149 | 159 | 167 | 166 | 155 | 179 | 188 | 203 | 231 | |
| Operating Profit | 28 | 26 | 20 | 36 | 31 | 35 | 35 | 36 | 32 | 30 | 32 | 44 | 19 |
| OPM % | 17.02% | 16.03% | 12.34% | 17.93% | 17.12% | 17.85% | 17.20% | 17.94% | 16.87% | 14.36% | 14.50% | 17.81% | 7.68% |
| 2 | 2 | 2 | 2 | 2 | 1 | 1 | -13 | 1 | 2 | 2 | 1 | 4 | |
| Interest | 11 | 11 | 11 | 10 | 10 | 13 | 13 | 12 | 13 | 19 | 22 | 21 | 21 |
| Depreciation | 5 | 6 | 6 | 6 | 7 | 7 | 7 | 7 | 6 | 7 | 7 | 8 | 8 |
| Profit before Tax | 14 | 11 | 6 | 22 | 16 | 15 | 15 | 4 | 14 | 5 | 6 | 16 | 23 |
| Tax % | 28.51% | 28.00% | 82.71% | 24.68% | 27.26% | 29.29% | 34.54% | 34.99% | 28.30% | 35.18% | 36.64% | 28.19% | 26.50% |
| Net Profit | 0 | 0 | 0 | 0 | 11 | 11 | 10 | 2 | 10 | 3 | 4 | 11 | 17 |
| 3.92 | 3.17 | 0.41 | 6.42 | 4.35 | 4.15 | 3.80 | 0.91 | 3.89 | 1.28 | 1.40 | 4.32 | 6.29 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 110 | 161 | 239 | 306 | 336 | 487 | 686 | 691 | 778 | 862 | 926 | |
| 90 | 132 | 196 | 248 | 272 | 401 | 575 | 581 | 641 | 725 | 801 | |
| Operating Profit | 20 | 29 | 43 | 58 | 64 | 87 | 112 | 110 | 136 | 137 | 125 |
| OPM % | 18.16% | 17.99% | 18.16% | 18.96% | 19.13% | 17.77% | 16.27% | 15.93% | 17.53% | 15.93% | 13.50% |
| 0 | 1 | 1 | 0 | 0 | 1 | 4 | 7 | -10 | 6 | 9 | |
| Interest | 8 | 10 | 12 | 12 | 14 | 19 | 29 | 42 | 48 | 75 | 83 |
| Depreciation | 1 | 2 | 3 | 5 | 7 | 12 | 16 | 23 | 28 | 28 | 30 |
| Profit before Tax | 11 | 17 | 29 | 41 | 44 | 57 | 71 | 53 | 50 | 41 | 50 |
| Tax % | 33.34% | 36.96% | 28.40% | 30.27% | 29.13% | 21.80% | 29.65% | 32.44% | 30.56% | 30.01% | 29.07% |
| Net Profit | 8 | 11 | 21 | 29 | 31 | 45 | 50 | 36 | 35 | 29 | 35 |
| EPS | 3.84 | 5.49 | 10.43 | 12.28 | 13.45 | 18.70 | 20.03 | 13.51 | 13.20 | 10.90 | — |
| Dividend Payout % | 0.00% | 18.21% | 14.38% | 16.29% | 16.75% | 15.37% | 14.97% | 14.80% | 7.57% | 9.18% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 24%
- 5 Years:
- 21%
- 3 Years:
- 8%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 19%
- 5 Years:
- -2%
- 3 Years:
- -17%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 15%
- 3 Years:
- 12%
- 1 Year:
- 49%
RETURN ON EQUITY
- 10 Years:
- 16%
- 5 Years:
- 8%
- 3 Years:
- 5%
- Last Year:
- 4%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 20 | 20 | 20 | 23 | 23 | 25 | 25 | 26 | 26 | 26 |
| 22 | 30 | 50 | 133 | 160 | 414 | 458 | 734 | 763 | 790 | |
| 69 | 82 | 122 | 146 | 220 | 230 | 342 | 384 | 548 | 1,293 | |
| Trade Payables | 31 | 37 | 43 | 36 | 66 | 99 | 157 | 145 | 263 | 442 |
| 10 | 11 | 11 | 16 | 23 | 31 | 73 | 173 | 146 | 351 | |
| Total Liabilities | 152 | 180 | 246 | 355 | 492 | 799 | 1,054 | 1,461 | 1,747 | 2,902 |
| 56 | 67 | 83 | 111 | 127 | 285 | 347 | 496 | 404 | 475 | |
| Capital Work in Progress | 1 | 1 | 0 | 3 | 115 | 11 | 36 | 109 | 156 | 857 |
| 0 | 0 | 1 | 1 | 1 | 82 | 77 | 0 | 0 | 0 | |
| 40 | 50 | 72 | 130 | 114 | 195 | 293 | 382 | 309 | 568 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 282 | 200 | 380 | |
| Cash & Bank | 3 | 2 | 2 | 1 | 1 | 45 | 21 | 12 | 5 | 5 |
| 51 | 60 | 88 | 110 | 135 | 182 | 280 | 180 | 673 | 616 | |
| Total Assets | 152 | 180 | 246 | 355 | 492 | 799 | 1,054 | 1,461 | 1,747 | 2,902 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 4 | 16 | 2 | -22 | 94 | 11 | -19 | -29 | 196 | -231 | |
| Cash from Investing | -33 | -13 | -20 | -29 | -135 | -146 | -94 | -216 | -317 | -410 |
| Cash from Financing | 33 | -0 | 24 | 63 | 51 | 188 | 100 | 237 | 113 | 642 |
| 1 | -1 | 0 | -1 | -0 | 44 | -25 | -8 | -8 | -0 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-10 - Neogen Chemicals Limited has informed the Exchange about outcome of Fund Raising Committee meeting held on September 10, 2026.
2026-09-10 - Neogen Chemicals Limited has informed the Exchange about outcome of Fund Raising Committee meeting held on September 10, 2026.
2026-09-06 - Neogen Chemicals Limited has informed the Exchange about General Updates
2026-09-06 - Neogen Chemicals Limited has informed the Exchange about receipt of show cause cum demand notice from the Office of the Commissioner CGST and Central Excise Commissionerate, Belapur.
2026-08-31 - Neogen Chemicals Limited has informed the Exchange about disclosure pursuant to regulation 30 (9) read with Schedule III of the SEBI LODR.
2026-08-29 - Neogen Chemicals Limited has informed the Exchange regarding 'Disclosure pursuant to Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015 ( PIT Regulations )
2026-08-22 - Submission of Consolidated Voting Results and Scrutinizer''s Report of the 37th AGM.
2026-08-22 - Neogen Chemicals Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 21, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-21 - Neogen Chemicals Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 21, 2026
News
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