Neogen Q1 FY27 Revenue up 34% to ₹250 Crore, PAT soars 67% to ₹17 Crore
Neogen Chemicals reported Q1 FY27 consolidated revenue of ₹250 crore, up 34% YoY. PAT increased by 67% YoY to ₹17 crore. The company approved raising up to ₹600 crore via QIP. Reconstruction of the Dahej plant is complete. Battery materials projects with ₹1,795 crore CAPEX are on track.
The announcement includes significant financial performance improvements, a substantial fund-raising plan, and updates on key expansion projects, all of which have a material impact on the company's outlook.
The company reported strong year-on-year growth in revenue and profit, alongside positive commentary from the management regarding future prospects and project execution.
Neogen Chemicals Limited (Neogen) has announced robust financial results for the first quarter ended June 30, 2026 (Q1 FY27). The company reported consolidated revenues of INR 250 crore, marking a significant 34% year-on-year increase. This growth was achieved despite a temporary shutdown of the Dahej plant, attributed to efficient management of toll manufacturing sites and higher volumes for key product lines. The Organolithium Portfolio saw substantial gains due to enhanced plant throughput.
Neogen Ionics (NIL) contributed INR 19 crore in revenue for Q1 FY27, a notable increase from INR 5 crore in Q1 FY26. Consolidated EBITDA for the quarter stood at INR 48 crore, up 53% year-on-year. This performance was bolstered by a favorable product mix, achieving record quarterly revenues in both Organolithium and Battery Chemicals, alongside strong volume growth in Inorganic Chemicals. The company initiated cost pass-throughs for raw material and input costs to protect operating margins, despite headwinds from higher costs including expenses related to the Dahej plant rebuild and expansion overheads at NIL.
Profit after tax (PAT) for Q1 FY27 (consolidated) reached INR 17 crore, a 67% year-on-year increase. This PAT growth reflects strong underlying operating trends, partially moderated by a 64% year-on-year increase in finance costs. The higher interest burden is due to increased debt drawdown for CAPEX funding and higher working capital intensity. Consolidated Earnings Per Share (EPS) for Q1 FY27 was INR 6.29 per share (not annualized).
Dr. Harin Kanani, Managing Director, Neogen Chemicals, commented on the performance, highlighting volume gains and record revenues in the Organolithium portfolio, coupled with a strong start at Neogen Ionics. He noted that despite global supply chain pressures and elevated input costs, the company's underlying business fundamentals remain sound. The replacement Dahej plant is nearing operational readiness, and the battery materials project is on track, with Neogen Ionics positioned as a key partner for domestic and global cell manufacturers. FY27 is expected to be a defining year for execution, with the commissioning and scaling up of the battery materials project and the resumption of normalized growth for the core business.
Key updates include cumulative recoveries of INR 164 crore for the Dahej fire incident, with net claim receivable standing at INR 186 crore. The reconstruction of the Dahej plant is complete with trial runs underway. The Board has approved raising up to INR 600 crore through a Qualified Institutional Placement (QIP), subject to approvals. Expansion initiatives for Battery Chemicals are progressing, with parts of the 1,500 MTPA capacity commissioned and the remaining 1,300 MTPA in trial production. A new capacity of 1,000 MTPA is expected to be commissioned by H2 FY27. The total estimated project cost for Neogen Ionics’ Dahej Phase 1 and Pakhajan Phase 2 Battery Materials projects is INR 1,795 crore, with completion targeted by February and March 2027, respectively.
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