Neogen Chemicals Q2 FY27 Revenue Surges 42% to ₹296 Cr; Battery Chemicals Revenue Jumps 568%
Neogen Chemicals reported Q2 FY27 consolidated revenue of ₹296 crore, up 42% YoY. Battery Chemicals revenue surged 568% to ₹37 crore. Consolidated EBITDA rose 51% to ₹45.3 crore. The company raised ₹600 crore via QIP and saw its credit rating upgraded. Organolithium capacity expansion approved.
The substantial revenue growth, especially the significant jump in the high-potential battery chemicals segment, coupled with a successful large-scale fundraising event and credit rating improvement, indicates a strong positive impact on the company's financial standing and growth prospects.
The company reported significant year-on-year growth in revenues and profits, driven by strong performance in its core segments and accelerated growth in the battery chemicals division. The successful QIP and credit rating upgrade further indicate positive financial health and investor confidence.
Neogen Chemicals Limited announced its unaudited financial results for the quarter and half year ended September 30, 2026. The company reported a robust performance with consolidated revenues reaching ₹296 crore, a 42% increase compared to ₹208.7 crore in the same period last year. Standalone revenues grew by 39% to ₹288 crore from ₹206.7 crore.
The Battery Chemicals division, Neogen Ionics (NIL), demonstrated significant growth, with revenue surging to ₹37 crore in Q2 FY27 from ₹5.4 crore in Q2 FY26, marking a 568% increase. This acceleration is attributed to the scaling up of the division, with ongoing capacity expansion and increasing demand from the electric vehicle (EV) and energy storage sectors.
Consolidated EBITDA for the quarter stood at ₹45.3 crore, a 51% increase from ₹30 crore in Q2 FY26. Standalone EBITDA grew by 54% to ₹53.7 crore from ₹35 crore. The company navigated challenges including Middle East geopolitical conflicts, supply chain friction, and feedstock cost inflation. Despite these, Neogen Chemicals highlighted sustained volume improvement in core segments and accelerated scaling in its Battery Chemicals business.
Profit After Tax (PAT) on a consolidated basis was ₹8.2 crore, a 144% increase from ₹3.4 crore in Q2 FY26. Standalone PAT rose by 127% to ₹21.1 crore from ₹9.3 crore.
Key updates include the successful completion of the company's first Qualified Institutional Placement (QIP), raising ₹600 crore, which was oversubscribed by 6.5 times. The proceeds are earmarked for debt repayment, funding incremental business requirements, and growth opportunities. The company also received a credit rating upgrade from CRISIL to 'CRISIL A-/Stable' for its long-term facilities. Furthermore, the board approved an expansion of the Organolithium facility at Patancheru, Telangana, from 300 MTPA to 600 MTPA with an estimated investment of up to ₹45 crore.
Expansion initiatives in the Battery Materials segment are progressing, with Neogen Ionics' Dahej Phase 1 and Pakhajan Phase 2 projects having a total estimated cost of ₹1,795 crore, with completion expected by February and March 2027, respectively. The company is actively engaged with domestic and international cell manufacturers for the supply of electrolytes and lithium salts.
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