Neogen Chemicals Limited
NSE: NEOGEN · Specialty Chemicals · sector
₹2,174.90NSE close 2026-10-26
Key numbers
Market cap₹5,955 cr
Price₹2,174.90
52w high / low₹2,785 / ₹967
P/E163.7xSector median 22.6x
P/B7.3xSector median 2.6x
Book value₹298.1
Dividend yield0.04%Sector median 0.60%
ROE4.4%Sector median 10.6%
ROCE6.2%Sector median 12.9%
OPM16.6%Sector median 12.1%
Debt / equity1.63xSector median 0.18x
EV/EBITDA47.3xSector median 15.1x
Interest cover1.6x
Current ratio1.17x
Sales growth 3y+7.9%Sector median +5.0%
Profit growth 3y-16.8%Sector median +0.9%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 107 companies in Specialty Chemicals (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹5 cr vs borrowings ₹1,330 cr (FY26): borrowings are higher by ₹1,325 cr.
- Borrowings rose in each of the last 3 years (₹362 cr → ₹1,330 cr).
- Operating profit covered interest 1.6x in the last 12 months.
- 23.00% of the promoters' shares are pledged (11.1% of all shares).
- Promoter holding fell by 2.92 percentage points in a year, to 48.31% (2026-09-30).
- Operating cash flow was below net profit in 4 of the last 5 years (FY26, FY24, FY23, FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 25% of net profit in the last 12 months.
- Debtor days went from 149 (FY24) to 161 (FY26).
- Dividend paid in 5 of the last 5 financial years.
- Price ₹2,174.90 on 2026-10-26: -21.9% from the 52-week high, +125.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹2,484.80 · low ₹979.80
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 193 | 201 | 203 | 187 | 209 | 220 | 247 | 250 |
| EBITDA | 35 | 35 | 22 | 32 | 30 | 32 | 44 | 48 |
| OPM % | 17.8% | 17.2% | 11.0% | 16.9% | 14.4% | 14.5% | 17.8% | 19.3% |
| Other income | 1 | 1 | 1 | 1 | 2 | 2 | 1 | 4 |
| Net profit | 11 | 10 | 2 | 10 | 3 | 4 | 11 | 17 |
| EPS (₹) | 4.15 | 3.80 | 0.91 | 3.89 | 1.28 | 1.40 | 4.32 | 6.29 |
| Revenue YoY | +7.9% | +9.2% | +21.6% | +34.0% | ||||
| Profit YoY | -69.0% | -63.1% | +372.6% | +66.8% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 487 | 686 | 691 | 778 | 862 | 926 |
| EBITDA | 87 | 112 | 110 | 122 | 138 | 154 |
| Net profit | 45 | 50 | 36 | 35 | 29 | 36 |
| EPS (₹) | 18.70 | 20.03 | 13.96 | 13.20 | 10.90 | 13.29 |
| Revenue growth | +40.8% | +0.7% | +12.6% | +10.9% | +18.0% | |
| Profit growth | +12.0% | -28.7% | -2.3% | -17.5% | +6.0% | |
| Dividend / share (₹) | 2.25 | 2.75 | 3.00 | 2.00 | 1.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +7.9% | +20.7% | +18.0% |
| Net profit | -16.8% | -1.7% | +6.0% |
| EPS | -18.4% | -4.1% | – |
| Share price | – | +9.4% (2y) | +56.5% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 483 | 760 | 789 | 816 |
| Borrowings | – | 362 | 394 | 566 | 1,330 |
| Cash & equivalents | – | 97 | 12 | 5 | 5 |
| Total assets | – | 1,054 | 1,461 | 1,747 | 2,902 |
| Fixed assets | – | 339 | 480 | 374 | 474 |
| Capital work in progress | – | 36 | 109 | 156 | 857 |
| Investments | – | 1 | 0 | 0 | 0 |
| Receivables | – | 177 | 282 | 200 | 380 |
| Inventory | – | 293 | 382 | 309 | 568 |
| Payables | – | 157 | 145 | 263 | 442 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 1 | -30 | -29 | 196 | -231 |
| Cash from investing | -146 | -94 | -216 | -317 | -410 |
| Cash from financing | 188 | 100 | 237 | 113 | 642 |
| Capex | 170 | 104 | 303 | 318 | 556 |
| Free cash flow | -169 | -134 | -332 | -122 | -787 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 10.4% | 4.7% | 4.4% | 3.5% |
| ROCE % | – | 11.8% | 8.2% | 7.3% | 5.4% |
| Debtor days | – | 94 | 149 | 94 | 161 |
| Inventory days | – | 275 | 365 | 267 | 445 |
| Payable days | – | 147 | 138 | 227 | 346 |
| Cash conversion cycle (days) | – | 222 | 376 | 134 | 260 |
| Working capital days | – | 131 | 136 | 125 | 87 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 48.31% |
| FIIs | 4.14% |
| DIIs | 23.48% |
| of which Mutual funds | 16.51% |
| of which Insurance | 2.68% |
| Public (non-institutions) | 24.07% |
| Quarter | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Apr 2026 | Jun 2026 | Sep 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 51.23% | 51.23% | 51.23% | 51.23% | 51.23% | 53.01% | 53.01% | 48.31% |
| Promoter group | % |
|---|---|
| Haridas Kanani Family Trust (Beena Haridas Kanani and Harin Haridas Kanani) | 17.56% |
| Harin Haridas Kanani | 11.11% |
| Beena Kanani Family Trust (Haridas Thakarshi Kanani and Harin Haridas Kanani) | 8.78% |
| Cadamba Solutions Private Limited | 4.49% |
| Pallika Haridas Kanani | 3.32% |
| H T Kanani Family Trust (Beena Haridas Kanani and Pallika Haridas Kanani) | 1.67% |
| Beena Haridas Kanani | 1.25% |
| Haridas Thakarshi Kanani | 0.08% |
| Malia Harshida Kishor | 0.01% |
| Vanita Madhwani | 0.01% |
| Asha Deepak Dalal | 0.01% |
| Pratik Kishor Malia | 0.00% |
| Charulata Bharatkumar Reshamwala | 0.00% |
| Rashmikant Krishnalal Gandhi | 0.00% |
| Arun Krishnalal Gandhi | 0.00% |
| Public holders above 1% | % |
|---|---|
| Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Small CAP Fund | 4.25% |
| SBI Contra Fund | 4.16% |
| Invesco India Elss TAX Saver Fund | 1.92% |
| SBI Life Insurance Co. Ltd | 1.68% |
| Mirae Asset Aggressive Hybrid Fund | 1.61% |
| ICICI Prudential Commodities Fund | 1.35% |
| Whiteoak Capital MID CAP Fund | 1.34% |
| Malabar India Fund Limited | 1.30% |
| Persistence Capital Fund I | 1.09% |
| Shalu Aggarwal | 1.03% |
71,908 shareholders. Pledged: 23.00% of promoter shares.
Peers in Specialty Chemicals
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| PIDILITIND | ₹1,50,431 cr | 56.8x | 13.9x | 25.7% | 33.4% | 24.5% | +7.4% | 1.01% |
| FLUOROCHEM | ₹46,168 cr | 75.4x | 5.9x | 8.1% | 10.0% | 25.6% | -4.2% | 0.07% |
| NAVINFLUOR | ₹39,306 cr | 49.7x | 9.9x | 23.9% | 22.2% | 33.7% | +16.8% | 0.18% |
| DEEPAKNTR | ₹19,676 cr | 25.1x | 3.4x | 14.0% | 15.3% | 15.4% | -0.4% | 0.52% |
| AETHER | ₹19,529 cr | 82.8x | 8.0x | 10.1% | 11.4% | 30.9% | +21.2% | – |
| ATUL | ₹15,762 cr | 19.8x | 2.5x | 11.9% | 16.9% | 17.9% | +7.9% | 0.47% |
| AARTIIND | ₹15,539 cr | 29.3x | 2.6x | 9.2% | 8.0% | 14.9% | +7.8% | 0.24% |
| FINEORG | ₹15,328 cr | 35.0x | 5.8x | 17.7% | 21.3% | 21.7% | -7.8% | 0.22% |
| BASF | ₹13,174 cr | 20.5x | 3.3x | 16.9% | 22.0% | 5.9% | +3.1% | 0.66% |
| NEOGEN | ₹5,955 cr | 163.7x | 7.3x | 4.4% | 6.2% | 16.6% | +7.9% | 0.04% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-08-13 | Dividend | Dividend - Re 1 Per Share |
| 2025-09-19 | Dividend | Dividend - Re 1 Per Share |
| 2024-09-19 | Dividend | Annual General Meeting/Dividend - Rs 2 Per Share |
| 2023-10-20 | Other | Extra Ordinary General Meeting |
| 2023-08-25 | Dividend | Annual General Meeting/Dividend - Rs 3 Per Share |
| 2022-09-19 | Dividend | Annual General Meeting/Dividend - Rs 2.75 Per Share |
| 2021-12-23 | Other | Extra-Ordinary General Meting |
| 2021-09-16 | Dividend | Dividend - Rs 2.25 Per Share |
| 2020-09-17 | Dividend | Annual General Meeting/Dividend - Rs 2 Per Share |
| 2019-09-11 | Dividend | Dividend - Rs 1.50 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY22
- Annual report FY21
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Organic chemicals: Engaged in manufacturing of Bromine Compounds, Advanced Intermediates and Custom Synthesis & Contract Manufacturing
- Inorganic chemicals: The portfolio includes specialty, inorganic lithium- based chemical products which find applications across multiple industries
| Sector | Commodities |
| Industry | Specialty Chemicals |
| Sub-industry | Specialty Chemicals |
| Symbol | NEOGEN |
| BSE code | 542665 |
| ISIN | INE136S01016 |
| Face value | ₹10.0 |
| Incorporated | 1989-03-07 |
| Website | www.neogenchem.com |
| Plants (India / abroad) | 4 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.