Neogen Chemicals Q1 FY27 Revenue Surges 34% to ₹250 Crore; PAT Jumps 67%
Neogen Chemicals reported Q1 FY27 consolidated revenue of ₹250 crore (up 34% YoY) and PAT of ₹17 crore (up 67% YoY). EBITDA margin improved to 19.3%. The company revised its FY27 revenue guidance upwards to ₹950-1,050 crore. A ₹600 crore QIP is approved to reduce debt and fund growth. Battery chemical revenue is projected at ₹300 crore for FY27.
Significant revenue growth, improved margins, revised guidance, and a substantial QIP approval indicate a strong positive impact on the company's financial health and future growth prospects.
The company reported strong year-on-year growth in revenue, EBITDA, and profit after tax. Positive outlook and revised guidance further support the positive sentiment.
Neogen Chemicals Limited announced a strong performance for the first quarter of FY27, reporting a consolidated revenue of ₹250 crore, a 34% increase year-on-year. EBITDA grew by 53% to ₹48 crore, with margins expanding by 260 basis points to 19.3%. Profit after tax surged by 67% to ₹17 crore.
The company's base business showed resilience, with revenue growing 18% to ₹194 crore, while the inorganic chemicals segment saw a remarkable 158% surge to ₹57 crore. The organo-lithium business achieved peak utilization, driving significant growth.
Key developments include the near completion of the Dahej replacement plant, with commercial production expected in Q2 FY27. Cumulative insurance recoveries have reached ₹164 crore, with ₹186 crore still receivable. The Board has approved a Qualified Institutional Placement (QIP) of ₹600 crore to deleverage the balance sheet and fund future growth opportunities.
Neogen Ionics, the battery chemicals division, generated ₹19 crore in revenue in Q1 FY27, exceeding 50% of the previous year's total revenue. Commissioning of the electrolyte facility is targeted for H1 FY27 and lithium electrolyte salts for H2 FY27. The company has secured provisional approvals from four international customers for lithium electrolyte salts.
Neogen Chemicals revised its standalone guidance for FY27 upwards, from ₹875-950 crore to ₹950-1,050 crore. The company anticipates battery chemical revenue to reach INR 300 crore in the current fiscal year, with significant ramp-up expected from Q3 and Q4 due to US customer shifts and increasing domestic battery production. Long-term, the battery materials segment is projected to contribute significantly, potentially reaching ₹2,400-2,900 crore by FY29.
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