Neogen Chemicals (NEOGEN) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 saw robust growth, with consolidated revenue up 34% year-over-year to INR 250 crore, driven by record organolithium and battery chemicals performance, despite a temporary Dahej plant shutdown managed via toll manufacturing.

• EBITDA grew 53% year-over-year to INR 48 crore, with margin expansion to 19.3%. PAT surged 67% to INR 17 crore, reflecting strong operational performance and cost pass-throughs.

• Board approved unaudited standalone and consolidated financial results for Q1 FY27, with AGM scheduled for August 21, 2026.

• Dahej plant reconstruction is complete, with trial runs underway and commercial production set to begin soon.

• Board approved fund raise up to INR 600 crore via QIP to support expansion and working capital.

Financial highlights

• Consolidated revenue from operations for Q1 FY27 was INR 250.29 crore, up from INR 186.73 crore in Q1 FY26; standalone revenue was INR 252.28 crore, up from INR 184.58 crore.

• Organic chemicals revenue grew 18% to INR 194 crore; inorganic chemicals surged 158% to INR 57 crore.

• Gross profit rose 37% to INR 117 crore; EBITDA margin expanded by 260 bps to 19.3%.

• Standalone net profit for Q1 FY27 was INR 19.44 crore; consolidated net profit was INR 17.11 crore.

• Finance cost increased 64% to INR 20.8 crore due to higher debt for CapEx and working capital.

Outlook and guidance

• Standalone revenue guidance for FY27 revised upward to INR 950-1,050 crore.

• Battery chemicals revenue guidance for FY27 is INR 300 crore, with INR 200 crore from salts and INR 100 crore from electrolytes.

• By FY29, battery business revenue potential is INR 2,400-2,900 crore at full utilization.

• Base business expected to cross INR 1,000 crore in FY27, with 10-15% growth targeted for FY28.

• Strategic CAPEX roadmap and operating leverage to drive sustainable long-term growth.