NEOGENChemicals

Neogen Chemicals Limited

Specialty Chemicals · ISIN INE136S01016 · BSE 542665 · NSE EQ · FV ₹10
Last price
₹2,274
+4.29%today
What this company does

Neogen Chemicals Limited operates in Specialty Chemicals, part of the Chemicals sector. It booked ₹296 cr of revenue in its latest quarter (Q2 FY27) and kept 2.8% of sales as profit.

In the report:
21out of 100
Equitytale Health Score
Fragile

Healthier than 21% of companies in Chemicals, on all six measures of filed financials. Each measure is ranked against the 14–46 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
42

At close. Not part of the score.

Profitability & returns10

How much profit it earns on the money it employs

Balance sheet14

How much it owes, and whether earnings cover the interest

Cash quality0

Whether reported profit actually arrives as cash · lowest in its sector on what we could measure

Growth & consistency58

Whether sales and profit have grown, and how steadily

Valuation16

What today's price implies, against our models or its peers

Governance & risk49

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Sales up 42% vs last year
✓ Profit up 144% vs last year
✓ Promoters hold 48%
Watch-outs
! Thin 2.8% net margin
! 23.0% of promoter stake pledged
! Low 2.1% return on equity
! Operating cash flow is negative

What if I invest in NEOGEN?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹2,274▲ +4.29%
latest close · 2026-11-04
1-year return
+82.9%
52-wk low ₹1,13152-wk high ₹2,785
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio192.0High
LowAverageHigh
P/B ratio4.33High
Below bookModerateHigh
EV / EBITDA40.3High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity2.1%Weak
WeakFairStrong ▸15%
Return on capital6.4%Weak
WeakFairStrong
Net margin2.8%Thin
ThinDecentStrong
EBITDA margin16.7%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.99Moderate
LowModerateHigh ▸1
Interest cover1.5×Risky
RiskyOkayStrong ▸5×
Current ratio1.35Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹6,825 cr
Book value
₹525
EPS
₹2.96
latest quarter
Net debt
₹1,115 cr
owes more than its cash
Enterprise value
₹7,941 cr
EBITDA
₹197 cr
annualised
EBIT
₹162 cr
annualised
Operating margin
13.7%
Return on assets
0.8%
Earnings yield
0.52%
P/S
5.77
Sales / share
₹394.4
Tax rate
35.3%
Face value
₹10
Shares
3.0 cr
Working capital
₹517 cr
Current assets
₹2,001 cr
Current liabilities
₹1,484 cr
Delivery %
41.1%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
Too few reliable models — the filings don't support two independent estimates of value.
Models span ₹276–₹276, midpoint ₹276

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹296 cr
Other Income₹4 cr
Total Income₹300 cr
Cost of Materials₹235 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-71 cr
Employee Benefit Expense₹31 cr
Finance Costs₹28 cr
Depreciation & Amortisation₹9 cr
Other Expenses₹56 cr
Total Expenses₹287 cr
Profit before Tax₹13 cr
Tax Expense₹4 cr
Net Profit₹8 cr
Net margin on total income2.7%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹163 cr54.5%
Employee benefit expense₹31 cr10.3%
Finance costs₹28 cr9.3%
Depreciation & amortisation₹9 cr2.9%
Other expenses₹56 cr18.7%
Tax expense₹4 cr1.5%
Profit for the period₹8 cr2.7%
Total income ₹300 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue247 cr250 cr296 cr
Total income248 cr254 cr300 cr
Expenses232 cr231 cr287 cr
Profit before tax16 cr23 cr13 cr
Tax4 cr6 cr4 cr
Net profit (owners' share)11 cr17 cr8 cr
Net margin (owners' share, on revenue)4.6%6.8%2.8%
EPS (₹)4.326.292.96
YoY (latest quarter): total income +42.4% · net profit +144.2%
Balance sheet & cash flow · as of Sep 2026
Moderate debt
Total assets
₹4,005 cr
Shareholder equity
₹1,578 cr
parent shareholders
Total debt
₹1,560 cr
Cash
₹444 cr
Cash flow · H1 FY27
Operating
₹-127 cr
Investing
₹-390 cr
Financing
₹956 cr
Peer comparison
Specialty Chemicals · by market value
CompanyPriceMarket capP/E
Pidilite Industries Limited₹1,511₹1.54 L cr62.5
Gujarat Fluorochemicals Limited₹4,464₹49,103 cr55.3
Navin Fluorine International Limited₹8,530₹43,759 cr40.6
Deepak Nitrite Limited₹1,521₹20,741 cr13.0
Aether Industries Limited₹1,501₹19,924 cr73.3
Aarti Industries Limited₹439₹15,930 cr23.6
Fine Organic Industries Limited₹5,089₹15,603 cr25.6
Atul Limited₹5,073₹14,935 cr24.0
BASF India Limited₹3,138₹13,584 cr9.8
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.04%
trailing 12 months
Dividend / share (TTM)
₹1
Last dividend
₹1
ex 13 Aug 2026
ActionDetailEx-date
Dividend₹1 / share13 Aug 2026
Dividend₹1 / share19 Sep 2025
Dividend₹2 / share19 Sep 2024
Dividend₹3 / share25 Aug 2023
Dividend₹2.75 / share19 Sep 2022
Dividend₹2.25 / share16 Sep 2021
Who owns it · 2026-09-30
⚑ 23.0% pledged
Promoter
48.3%
FII / Foreign
4.1%
DII / Domestic
23.5%
Retail / others
24.1%
Promoter stake down 8.6% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtVIREN BHARATKUMAR RESHAMWALA . · Other35425 Aug 26
SoldHEENA HITESH RESHAMWALA · Other35425 Aug 26
BoughtCADAMBA SOLUTIONS PRIVATE LIMITED · Promoter Group10.00 L · ₹161.0 cr18 Apr 26
Bulk / block deals
short— · NSE677 Sep 26
short— · NSE263 Sep 26
short— · NSE33026 Aug 26
Stake changes
SoldSBI Mutual Fund under its Various Schemes→ 6.02% · 2.12 L18 Aug 26
SoldAxis Mutual Fund (through Schemes of Axis Mutual Fund)→ 4.04% · 4.00 L2 Jun 26
SoldAxis Mutual Fund→ 4.04% · 4.00 L2 Jun 26
Promoter pledges
PledgedPledge created in favour of Axis Trustee Sevices Ltd20.19 L · 5.00% held13 Apr 26
PledgedPledge created in favour of Axis Trustee Services Limited to facilitate the borrowin g by Cadamba Solutions Private Limited from Avendus Structure d Credit Fund III (the Lender)20.19 L · 5.00% held13 Apr 26
PledgedPledge created in favour of Axis Trustee Services Limited13.19 L · 0.00% held30 Mar 26
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 21 Aug 2026
See the official result
1
To receive, consider and adopt the: a) Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2026, together with Reports of the Board of Directors & Auditors’ thereon; and b) Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2026, together with Report of the Auditors’ thereon.
Backed by 100% of shareholders other than promotersneeded 50%
59.18 L votes for, 0 against · 0% of mutual funds and other big investors said no
2
To declare a final dividend of Rs. 1/- each on fully paid-up equity share of a face value of Rs. 10 each of the Company for the financial year ended March 31, 2026.
Backed by 100% of shareholders other than promotersneeded 50%
59.18 L votes for, 0 against · 0% of mutual funds and other big investors said no
3
To appoint a director in place of Dr. Harin Kanani (DIN: 05136947), Managing Director who retires by rotation and being eligible offers himself for re-appointment.
Backed by 100% of shareholders other than promotersneeded 50%
59.18 L votes for, 0 against · 0% of mutual funds and other big investors said no
4
To authorize issuance of securities through permissible modes of fund-raising
Backed by 96% of shareholders other than promotersneeded 75%
56.61 L votes for, 2.57 L against · 5% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 23 named members
owning 48.3% between them · as of 2026-09-30
Haridas Kanani Family Trust (Beena Haridas Kanani and Harin Haridas Kanani)17.56%
HARIN HARIDAS KANANI11.11%
Beena Kanani Family Trust (Haridas Thakarshi Kanani and Harin Haridas Kanani)8.78%
CADAMBA SOLUTIONS PRIVATE LIMITED4.49%
PALLIKA HARIDAS KANANI3.32%
H T Kanani Family Trust (Beena Haridas Kanani and Pallika Haridas Kanani)1.67%
BEENA HARIDAS KANANI1.25%
HARIDAS THAKARSHI KANANI0.08%
Business done with them
FY2026 · 1 of the group
The company paid ₹3 L to companies in the promoter group last year — about 0.0% of its ₹862 cr revenue and received ₹59 cr back from them.
Cadamba Solutions Private Limited
Other income from them · As per below mentioned
also owns 4.49% of the company
₹59 cr
company received
Cadamba Solutions Private Limited
Other payments to them · As per below mentioned
also owns 4.49% of the company
₹3 L
company paid

The company also transacted with 8 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹600 cr raised in Sep 2026 by selling shares to large investors

As of Sep 2026, the company says it has spent 40% of what it set aside, leaving ₹350 cr still to be spent. CRISIL Ratings Limited watches the spending on the exchange’s behalf.

Repayment/ pre-payment, in full or part, of certain borrowings availed by the Company
1%
₹4 cr of ₹265 cr
Funding long-term working capital requirements
93%
₹163 cr of ₹175 cr
General corporate purposes
46%
₹64 cr of ₹140 cr
₹161 cr raised in Apr 2026 by preferential issue of equity shares

As of Jun 2026, the company says it has spent 100% of what it set aside. CRISIL Ratings Limited watches the spending on the exchange’s behalf.

Investment in wholly owned subsidiaries of the Company viz. Neogen Ionics Limited
100%
₹100 cr of ₹100 cr
Meeting Working capital requirements
100%
₹21 cr of ₹21 cr
General Corporate Purposes*
100%
₹40 cr of ₹40 cr

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.