Neogen Chemicals Limited — Investor Meet, 26-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Neogen Chemicals reported 13% revenue growth to Rs. 778 Cr in FY25, with EBITDA rising 24% to Rs. 136 Cr and margin expanding 160 bps to 17.5%. PAT declined 2% to Rs. 35 Cr, impacted by a Rs. 14 Cr fire-related charge at the Dahej plant, which is being rebuilt and expected online by Q4 FY26. The lithium-ion battery materials segment is scaling up, commissioning 200 MTPA capacity with 1,100 MTPA more by Sept 2025 and full 2,000 MTPA capacity planned. A JV with Morita Chemical aims to leverage advanced lithium salt technology. FY26 lithium-ion battery revenues target Rs. 300 Cr+, with a medium-term goal of Rs. 1,000 Cr+. Management focuses on strong margins (18.5% base business, 15-18% battery materials) and improved working capital, with Rs. 1,500 Cr capex planned mainly for battery materials. Commercial shipments to global and Indian gigafactory customers are expected to ramp up by H2 FY26. Overall outlook is positive on specialty chemicals growth and battery materials expansion.