Neogen Chemicals Ltd.

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neogenchem.comBSE: 542665NSE: NEOGEN

Market Cap₹ 6,150 Cr.

Current Price

High / Low₹ 2,484 / 967

Stock P/E117.9

Book Value₹ 378

Price to Book3.44

Dividend Yield0.04 %

ROCE10.3 %

ROE5.6 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Chemicals

Hold

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.

Confidence

55%

View full sector analysis →

PROS

Latest quarter profit grew 36.6% YoY, showing strong momentum
Company has delivered good sales growth of 20.5% CAGR over last 5 years
Working capital cycle has improved - days down from 169 to 111
Company has a consistent dividend-paying track record

CONS

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 6.1% over last 3 years
Company has a low return on capital employed of 10.1%
Promoter holding has decreased over last 2 years: -3.9pp
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.25x)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ChemicalsChemicalsChemicals

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	SOLARINDS	22305.00	101.35	201838.07	0.05	666.37	88.98	3668.20	70.26	38.16	27.91
2.	PIDILITIND	1572.50	60.43	160061.58	1.37	8835.10	1202.86	45515.50	1112.74	32.38	26.28
3.	SRF	2515.00	34.49	74550.84	0.36	758.87	75.53	5033.26	34.63	14.21	24.57
4.	FLUOROCHEM	4753.80	84.91	52220.49	0.06	219.00	19.02	1588.00	23.97	9.58	26.83
5.	NAVINFLUOR	8796.15	57.15	45131.39	0.17	243.31	107.67	1045.08	44.07	21.39	34.17
6.	GODREJIND	1132.45	32.45	38146.70	0.00	523.36	-27.85	5448.09	22.16	10.64	12.82
7.	DEEPAKNTR	1642.10	28.59	22397.10	0.46	345.01	207.36	2577.60	36.39	11.58	20.96
8.	AETHER	1612.65	91.01	21404.36	0.00	62.75	33.45	326.56	27.49	11.65	31.47
9.	ATUL	6217.65	23.01	18305.85	0.48	253.93	91.85	1847.95	25.03	15.05	21.41
10.	AARTIIND	497.05	33.95	18029.33	0.20	155.00	260.47	2387.00	42.42	6.95	16.00
11.	DEEPAKFERT	1358.70	17.49	17209.68	0.74	490.04	100.95	3256.26	22.47	12.12	25.96
12.	NEOGEN	2245.85	172.93	6149.51	0.04	17.11	66.76	250.29	34.04	6.64	19.35

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	170	168	164	210	176	193	200	204	185	207	216	249	252
	141	142	143	172	145	157	163	163	150	172	179	203	234
Operating Profit	29	26	22	38	32	36	38	41	35	35	36	45	18
OPM %	17.31%	15.60%	13.33%	18.06%	18.04%	18.89%	18.79%	20.21%	18.79%	16.91%	16.82%	18.25%	7.23%
	2	2	2	3	3	2	2	-11	3	4	4	4	8
Interest	11	11	11	10	10	12	13	16	14	21	23	23	23
Depreciation	5	5	6	6	6	7	7	6	5	6	6	6	7
Profit before Tax	16	12	7	25	19	20	20	8	19	12	12	20	26
Tax %	27.54%	26.47%	68.58%	24.05%	25.57%	25.03%	28.13%	33.03%	25.42%	24.49%	25.68%	26.41%	25.60%
Net Profit	11	9	2	19	14	15	14	5	14	9	9	15	19
	4.58	3.66	0.87	7.54	5.28	5.63	5.46	1.97	5.40	3.53	3.32	5.56	7.15

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	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	701	774	855	923
	90	132	196	248	272	401	575	585	627	704	788
Operating Profit	20	29	43	58	64	87	112	116	147	151	135
OPM %	18.16%	17.99%	18.16%	18.96%	19.13%	17.77%	16.27%	16.57%	19.02%	17.68%	14.60%
	0	1	1	0	1	1	5	8	-4	16	20
Interest	8	10	12	12	14	19	29	42	51	80	90
Depreciation	1	2	3	5	7	12	16	23	26	24	25
Profit before Tax	12	18	29	41	44	57	71	59	66	63	70
Tax %	33.03%	39.01%	28.31%	30.19%	29.06%	21.76%	29.62%	30.83%	27.05%	25.61%	25.65%
Net Profit	8	11	21	29	31	45	50	41	48	47	52
EPS	3.87	5.35	10.48	12.33	13.50	18.74	20.07	15.59	18.35	17.80	—
Dividend Payout %	0.00%	18.71%	14.32%	16.22%	16.70%	15.34%	14.95%	12.83%	5.45%	5.62%	—

COMPOUNDED SALES GROWTH

10 Years:: 24%
5 Years:: 21%
3 Years:: 8%

COMPOUNDED PROFIT GROWTH

10 Years:: 25%
5 Years:: 8%
3 Years:: -2%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 16%
3 Years:: 10%
1 Year:: 50%

RETURN ON EQUITY

10 Years:: 17%
5 Years:: 9%
3 Years:: 6%
Last Year:: 6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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	31	50	133	160	414	458	740	782	827
	69	82	122	146	220	230	342	384	426	635
Trade Payables	31	37	43	36	66	99	157	145	255	422
	10	11	11	16	23	31	73	110	132	265
Total Liabilities	152	181	247	355	492	800	1,054	1,405	1,621	2,176
	56	67	83	111	127	285	347	361	228	294
Capital Work in Progress	1	1	0	3	115	11	36	56	28	161
	0	0	0	0	0	81	77	5	193	307
	40	50	72	130	114	195	293	382	306	552
	0	0	0	0	0	0	0	282	199	357
Cash & Bank	3	2	2	1	1	45	21	2	0	3
	51	60	89	110	135	183	280	317	667	502
Total Assets	152	181	247	355	492	800	1,054	1,405	1,621	2,176

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	4	16	2	-21	94	11	-19	-134	199	-99
Cash from Investing	-33	-13	-20	-29	-134	-146	-94	-129	-188	-35
Cash from Financing	33	-0	24	62	51	188	100	226	-12	137
	1	-1	0	-1	-0	44	-25	-37	-2	3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	56.89	51.23	51.23	51.23	51.23	51.23	51.23	51.23	53.01
	4.65	8.17	7.73	7.79	7.35	5.15	4.57	4.46	4.11
	22.54	22.48	22.52	22.75	22.96	25.22	21.99	22.65	19.60
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	15.92	18.12	18.51	18.23	18.45	18.39	22.21	21.67	23.28

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10

General Updates

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

Qualified Institutional Placement

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

General Updates

2026-09-06 - Neogen Chemicals Limited has informed the Exchange about General Updates

2026-09-06

Action(s) taken or orders passed

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

General Updates

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

Updates

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

General Updates

2026-08-22 - Submission of Consolidated Voting Results and Scrutinizer''s Report of the 37th AGM.

2026-08-22

Shareholders meeting

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

Shareholders meeting

2026-08-21 - Neogen Chemicals Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 21, 2026

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