Neogen Chemicals Ltd.

•

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

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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

News

Recent coverage and analyst commentary for NEOGEN

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Neogen Chemicals Ltd.

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Name

SOLARINDS

22305.00

101.35

201838.07

0.05

666.37

88.98

3668.20

70.26

38.16

27.91

PIDILITIND

1572.50

60.43

160061.58

1.37

8835.10

1202.86

45515.50

1112.74

32.38

26.28

SRF

2515.00

34.49

74550.84

0.36

758.87

75.53

5033.26

34.63

14.21

24.57

FLUOROCHEM

4753.80

84.91

52220.49

0.06

219.00

19.02

1588.00

23.97

9.58

26.83

NAVINFLUOR

8796.15

57.15

45131.39

0.17

243.31

107.67

1045.08

44.07

21.39

34.17

GODREJIND

1132.45

32.45

38146.70

0.00

523.36

-27.85

5448.09

22.16

10.64

12.82

DEEPAKNTR

1642.10

28.59

22397.10

0.46

345.01

207.36

2577.60

36.39

11.58

20.96

AETHER

1612.65

91.01

21404.36

0.00

62.75

33.45

326.56

27.49

11.65

31.47

ATUL

6217.65

23.01

18305.85

0.48

253.93

91.85

1847.95

25.03

15.05

21.41

AARTIIND

497.05

33.95

18029.33

0.20

155.00

260.47

2387.00

42.42

6.95

16.00

DEEPAKFERT

1358.70

17.49

17209.68

0.74

490.04

100.95

3256.26

22.47

12.12

25.96

NEOGEN

2245.85

172.93

6149.51

0.04

17.11

66.76

250.29

34.04

6.64

19.35

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

150

172

179

203

234

Operating Profit

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%

-11

Interest

Depreciation

Profit before Tax

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

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

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

132

196

248

272

401

575

585

627

704

788

Operating Profit

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%

-4

Interest

Depreciation

Profit before Tax

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

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%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

133

160

414

458

740

782

827

122

146

220

230

342

384

426

635

Trade Payables

157

145

255

422

110

132

265

Total Liabilities

152

181

247

355

492

800

1,054

1,405

1,621

2,176

111

127

285

347

361

228

294

Capital Work in Progress

115

161

193

307

130

114

195

293

382

306

552

282

199

357

Cash & Bank

110

135

183

280

317

667

502

Total Assets

152

181

247

355

492

800

1,054

1,405

1,621

2,176

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-21

-19

-134

199

-99

Cash from Investing

-33

-13

-20

-29

-134

-146

-94

-129

-188

-35

Cash from Financing

-0

188

100

226

-12

137

-1

-0

-25

-37

-2

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

56.89

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

15.92

18.12

18.51

18.23

18.45

18.39

22.21

21.67

23.28

Neogen Chemicals Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Neogen Chemicals Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI