Neogen Chemicals reports Q2 FY26 results with 8% revenue growth; advances battery materials and corporate governance

* Neogen Chemicals Limited reported un-audited financial results (standalone and consolidated) for the quarter and half-year ended September 30, 2025. * For Q2 FY26 (consolidated), revenues stood at ₹209 crore, an 8% increase year-on-year. EBITDA was ₹30 crore. Profit after tax (PAT) was ₹3 crore, a 69% decrease from Q2 FY25. * The decline in PAT was attributed to higher employee costs, increased insurance premiums post a recent fire incident, job work/conversion costs, and increased finance costs related to capital deployed for inventory and plant rebuild. * Neogen Ionics’ Q2 FY26 revenue was ₹5.42 crore. Consolidated Earnings per share (EPS) for Q2 FY26 was ₹1.28 per share. * For Q2 FY26 (standalone), revenues were ₹207 crore, up 7% YoY. Gross Profit was ₹95 crore, up 15%. EBITDA was ₹35 crore, up 4%. PAT was ₹9 crore, up 37%. * Dr. Harin Kanani, Managing Director, commented on the operational resilience, the stability of the diversified business model, and the strategic focus on high-growth battery materials. He noted the start of commercial-grade Electrolyte supply to domestic manufacturers and the Dahej plant rebuild being on track for completion next year. * Expansion Initiatives Update: * 200 MTPA for Lithium Electrolyte Salts and Additives has been commissioned, with the first approval material shipped to customers. Trial production is ongoing for the remaining 200 MTPA. * 1,100 MT of Electrolyte capacity is targeted for commissioning by December 2025. * The plant for manufacturing 2,000 MT of Electrolyte at the Dahej facility is fully commissioned. * Neogen Ionics' greenfield facility for Electrolyte aims for commercial production of Electrolyte in H1 FY27 and Lithium Electrolyte Salt in H2 FY27. An Indian Giga scale customer has approved Neogen Ionics’ Dahej plant for long-term commercial supply of their Electrolyte demand. * A Joint Venture Agreement (JVA) has been executed between Neogen Ionics (NIL) and Morita Investment (MIL), forming Neogen Morita New Materials Limited (NML). NIL will hold a minimum of 80% and MIL a maximum of 20% in NML, which will produce solid LiPF6 salt. * Corporate Governance: The company separated the positions of Chairman and Managing Director, effective October 1, 2025. Mr. Anurag Surana was appointed as the Non-Executive Chairman of Neogen Chemicals Limited, and Mr. Sanjay Mehta as the Non-Executive Chairman of Neogen Ionics Limited. Mr. TCN Sai Krishnan was appointed as the Executive Director of Neogen Chemicals Limited. * Fundraising: The company successfully raised ₹200 crore through the private placement of non-convertible debentures (NCDs) to fund ongoing growth projects and expedite the rebuilding of the Organic Chemicals plant in Dahej SEZ.