MarketFriction

Neogen Chemicals Ltd

NSE NEOGEN · BSE 542665 · Specialty Chemicals
₹2,407.10 -1.82%
NSE close2026-10-01
52 week range966.70 - 2,499.70
Market cap₹7,316 Cr.
P/E206
IPO 2019 · +1020% since Microcap 250 Price band 20% Delivery 37.1%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales162164200180193201203187209220247250
Expenses136144164149159167166155179188203202
Operating Profit262036313535363230324448
OPM %16%12%18%17%18%17%18%17%14%14%18%19%
Other Income222211-1312214
Interest111110101313121319222121
Depreciation666777767788
Profit before tax11622161515414561623
Tax %28%81%25%27%29%34%35%28%35%36%28%26%
Net Profit8117111110210341117
EPS in Rs3.180.406.424.354.153.790.913.891.281.404.326.25
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales100110161239306336487686691778862926
Expenses8690132196248272401575581641725772
Operating Profit14202943586487112110136137154
OPM %14%18%18%18%19%19%18%16%16%18%16%17%
Other Income001101158-1069
Interest5810121214192942487583
Depreciation112357121623282830
Profit before tax81217294144577153504150
Tax %39%33%37%28%30%29%22%30%32%31%30%
Net Profit5811212931455036352936
EPS in Rs2.593.845.4910.4312.2813.4317.9020.0413.5113.2010.9013.25
Dividend Payout %17%0%18%14%16%17%15%15%15%8%18%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth24%21%8%18%
Compounded Profit Growth19%-2%-17%-12%
Stock Price CAGR%14%11%62%
Return on Equity9%7%5%4%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital42020202023232525262626
Reserves198223050133160414458734763790
Borrowings242669821201372222293704095971,395
Other Liabilities21264148566187131202292361691
Total Liabilities69801521802463554927991,0541,4611,7472,902
Fixed Assets1317566783111127285347496404475
CWIP0111031151136109156857
Investments00001118277000
Other Assets5562941121632412504225948561,1871,570
Total Assets69801521802463554927991,0541,4611,7472,902
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity99012-4-35841-30-29196-231
Cash from Investing Activity-2-4-33-13-20-29-135-146-94-216-317-410
Cash from Financing Activity-6-433-0246351188100237113642
Net Cash Flow101-10-1-044-25-8-8-0
Free Cash Flow74-33-1-24-63-51-65-134-332-121-647
CFO/OP89%83%21%55%4%-38%146%13%-17%-18%153%-154%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days785810794939085829414994161
Inventory Days178190228192188257211258275365267445
Days Payable12013017714111171122131147138227346
Cash Conversion Cycle136117158145169276174209223376134260
Working Capital Days140126174486395661117912912385
ROCE %27%26%23%23%26%22%17%14%13%9%9%6%
Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters56.89%56.89%56.89%51.22%51.22%51.22%51.22%51.22%51.22%51.22%53.00%48.31%
FIIs4.51%4.56%4.65%8.17%7.73%7.79%7.35%5.15%4.57%4.46%4.11%4.51%
DIIs22.85%22.14%22.54%22.48%22.52%22.75%22.96%25.22%21.99%22.65%19.60%23.43%
Public15.75%16.42%15.93%18.12%18.51%18.22%18.45%18.40%22.21%21.67%23.27%23.75%
No. of Shareholders47,01848,35646,69846,47047,65146,10446,32145,71047,88454,33261,98868,410

Fundamentals

Market Cap₹ 7,316 Cr.
Current Price₹ 2,435
Stock P/E206
Book Value₹ 309
ROCE6.46 %
ROE3.58 %
Dividend Yield0.04 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)18%
Compounded Profit Growth (TTM)-12%
Consolidated figures.
Valuation
Market capRs 6,350 Cr
Enterprise valueRs 7,740 Cr
P/E (TTM)178.58x
Price to book7.78x
Price to sales6.86x
EV / EBITDA47.41x
EV / EBIT58.06x
EV / sales8.36x
Earnings yield0.56%
Dividend yield0.08%
P/E, 3-year average102.49x
P/B, 3-year average4.30x
P/E, 5-year average93.83x
P/B, 5-year average5.89x
Profitability
Operating margin (excl. other income)15.93%
Operating margin (incl. other income)16.67%
EBITDA margin17.64%
Pre-tax margin5.41%
Net profit margin3.84%
Net margin, latest quarter6.84%
ROE3.58%
ROCE6.46%
ROA1.24%
ROE, 3-year average4.60%
ROCE, 3-year average7.85%
ROA, 3-year average2.08%
ROE, 5-year average7.80%
ROCE, 5-year average10.18%
ROA, 5-year average3.71%
ROIC (approx.)4.23%
Tax rate30.01%
Other income / net worth0.79%
Growth
Sales growth (latest year)10.85%
Profit growth (latest year)-17.46%
Sales CAGR, 3 years7.90%
Sales CAGR, 5 years20.70%
Profit CAGR, 3 years-16.83%
Profit CAGR, 5 years-1.70%
Sales growth QoQ1.51%
Profit growth QoQ50.22%
Sales growth YoY (latest quarter)34.04%
Profit growth YoY (latest quarter)66.76%
Per share
EPS (TTM)Rs 13.48
EPS (latest year)Rs 10.90
EPS (latest quarter)Rs 6.49
EPS, 3-year averageRs 12.54
EPS, 5-year averageRs 15.11
Book value per shareRs 309.40
Sales per shareRs 350.82
Cash flow per shareRs -87.74
Free cash flow per shareRs -245.25
Dividend per share (latest year)Rs 2.00
Dividend per share, 3-year averageRs 1.67
Dividend per share, 5-year averageRs 2.15
Dividends
Dividend payout18.37%
Dividend payout, 3-year average13.59%
Dividend payout, 5-year average14.22%
Efficiency
Asset turnover0.30x
Fixed asset turnover1.82x
Inventory turnover0.82x
Inventory days445 days
Debtor days161 days
Debtors turnover2.27x
Creditor days346 days
Cash conversion cycle260 days
Working capital days85 days
Leverage
Total debtRs 1,395 Cr
Cash and bankRs 5 Cr
Net debtRs 1,390 Cr
Debt to equity1.71x
Net debt / EBITDA8.52x
Interest coverage1.60x
Current ratio (filing 2026-03-31)1.17x
Quick ratio (filing 2026-03-31)0.69x
Trade payables (filing 2026-03-31)Rs 442 Cr
Owners' fund to total sources28.13%
Debt to assets48.08%
Cash flow
Cash from Operating Activity (latest year)Rs -231 Cr
Cash from Investing Activity (latest year)Rs -410 Cr
Cash from Financing Activity (latest year)Rs 642 Cr
Net Cash Flow (latest year)Rs -0 Cr
Free cash flow (latest year)Rs -647 Cr
FCFE (approx.: FCF + change in debt)Rs 151 Cr
Cash from ops / profit, 5 years-0.48x
Statement figures
Net sales (TTM)Rs 926 Cr
Net sales (latest year)Rs 862 Cr
Sales (latest quarter)Rs 250 Cr
Operating profit excl. other income (latest year)Rs 137 Cr
Operating profit (latest quarter)Rs 48 Cr
Other income (TTM)Rs 9 Cr
EBITDA (TTM)Rs 163 Cr
PBDT (TTM)Rs 80 Cr
Profit before tax (TTM)Rs 50 Cr
Tax (latest year)Rs 12 Cr
Net profit (TTM)Rs 36 Cr
Net profit (latest year)Rs 29 Cr
Net profit (latest quarter)Rs 17 Cr
Depreciation (TTM)Rs 30 Cr
Depreciation (latest quarter)Rs 8 Cr
Interest (TTM)Rs 83 Cr
Cost of goods sold (latest year)Rs 466 Cr
Total expenditure (latest year)Rs 725 Cr
Total income (latest year)Rs 868 Cr
Share capitalRs 26 Cr
ReservesRs 790 Cr
Shareholders' fundsRs 816 Cr
Total assetsRs 2,902 Cr
Net blockRs 475 Cr
Capital work in progressRs 857 Cr
InvestmentsRs 0 Cr
ReceivablesRs 380 Cr
InventoryRs 568 Cr
Other liabilitiesRs 691 Cr
Shares outstanding (crore)2.64
Ownership
Promoter holding48.31% (-2.91 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 178.6 is at the 93th percentile of its own 7.5-year range (median 84.5, low 39.1, high 219.0).
P/B 7.78 is at the 38th percentile (median 8.70).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodNEOGENNifty 50Difference
1 week+3.5%-2.8% +6.3 pts
1 month+11.8%-6.8% +18.5 pts
3 months+22.3%-7.6% +29.9 pts
6 months+116.5%+0.4% +116.1 pts
1 year+57.9%-9.9% +67.8 pts
2 years+7.8%-13.6% +21.3 pts
3 years+36.9%+14.2% +22.7 pts
5 years+92.6%+27.9% +64.7 pts
31 mutual fund schemes hold about ₹795 Cr. Over three months 3 bought more and 28 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
SBI Contra Fund0.58%275 -11%
Axis Small Cap Fund0.57%178 -17%
Invesco India Smallcap Fund0.31%49 -25%
Axis Flexi Cap Fund0.31%43 -18%
Axis Flexi Cap Fund0.31%42 -18%
WOC Flexi Cap Fund0.35%32 -20%
SBI Comma Fund2.40%30 -27%
JM Flexi Cap Fund0.49%25 -13%
Mirae Asset Healthcare Fund0.64%23 -19%
SBI Large & Midcap Fund0.05%20 -92%
Axis Innovation Fund1.18%16 -22%
Union Innovation & Opp Fund1.12%14 -20%
Bajaj Finserv Small Cap Fund0.49%13 -26%
Bandhan Infrastructure Fund0.69%10 -7%
Motilal Oswal Nifty Microcap 250 Index Fund0.30%7 -17%
Mirae Asset Equity Savings Fund0.27%6 -14%
WOC Multi Cap Fund0.13%5 -22%
Samco Special Opportunities Fund1.61%2 +100%
WOC ELSS Tax Saver Fund0.26%1 -17%
Samco Multi Cap Fund0.51%1 +100%
WOC Aggressive Hybrid Fund0.17%1 -49%
Bajaj Finserv Healthcare Fund0.21%1 +100%
Bandhan Retirement Fund0.20%0 -11%
Groww Nifty Total Market Index Fund0.01%0 -12%
Angel One Nifty Total Market Index Fund0.01%0 -12%

Red flags

F-score 2 of 8
explainWeak cash conversion Cash from operations was -65% of net profit over the last 3 years
explainReceivables outrunning sales Receivables grew 90% vs sales +11% in 2026
explainDebt up, profit down Borrowings up 134% while net profit fell in 2026
lookInventory outrunning sales Inventory grew 84% vs sales +11% in 2026
lookRegulator order or action Regulator order or action 2026-09-06: Neogen Chemicals Limited has informed the Exchange about receipt of show cause cum demand notice from the Office of the Commissioner CGST an
lookAuditor change Auditor change 2026-07-24: Neogen Chemicals Limited has informed the Exchange regarding Change in Auditors of the company.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹250 Cr +33.7% vs Jun 2025. Net profit ₹17 Cr +70.0%.
Against our estimate for Jun 2026: sales +15.7%, profit +150.9% beat. Our estimate for Sep 2026: sales Rs 267 Cr, profit Rs 8 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-08-13Dividend - Re 1 Per Share
2025-09-19Dividend - Re 1 Per Share
2024-09-19Annual General Meeting/Dividend - Rs 2 Per Share
2023-10-20Extra Ordinary General Meeting
2023-08-25Annual General Meeting/Dividend - Rs 3 Per Share
2022-09-19Annual General Meeting/Dividend - Rs 2.75 Per Share
2021-12-23 Extra-Ordinary General Meting
2021-09-16 Dividend - Rs 2.25 Per Share
2020-09-17 Annual General Meeting/Dividend - Rs 2 Per Share
2019-09-11 Dividend - Rs 1.50 Per Share
DateTypeWhat it says
2026-09-26Disclosure of material issueNeogen Chemicals Limited has informed regarding Disclosure pertaining to approval by the Board of Neogen Morita New Materials Limited (NML) for issuan...
2026-09-26Credit Rating- RevisionCredit Rating- Revision.
2026-09-23Concall / analyst meetSchedule of meet
2026-09-21Press ReleaseA press release dated September 21, 2026, titled "Neogen Chemicals raises approx INR 600 Crore via its first ever QIP Issue Oversubscribed by 6.5x".
2026-09-17Concall / analyst meetSchedule of Analyst/Investor meeting to be held on September 22, 2026.
2026-09-17General UpdatesGeneral Updates
2026-09-17Qualified Institutional PlacQualified Institutional Placement
2026-09-17AllotmentAllotment of 2660753 securities pursuant to Qualified Institution Placement at its meeting held on September 16, 2026
2026-09-16General UpdatesOutcome of Fund Raising Committee Meeting held on September 16, 2026.
2026-09-16Qualified Institutional PlacOutcome of Fund Raising Committee Meeting held on September 16, 2026.
2026-09-10General UpdatesOutcome of Fund Raising Committee meeting held on September 10, 2026.
2026-09-10Qualified Institutional PlacOutcome of Fund Raising Committee meeting held on September 10, 2026.
2026-09-06General UpdatesGeneral Updates
2026-09-06Regulatory actionReceipt of show cause cum demand notice from the Office of the Commissioner CGST and Central Excise Commissionerate, Belapur.
2026-08-31General UpdatesDisclosure pursuant to regulation 30 (9) read with Schedule III of the SEBI LODR.
2026-08-29UpdatesDisclosure pursuant to Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015 ( PIT Regulations )
2026-08-22General UpdatesSubmission of Consolidated Voting Results and Scrutinizers Report of the 37th AGM.
2026-08-22Shareholder meetingVoting results.
2026-08-21Shareholder meetingProceedings of Annual General Meeting held on August 21, 2026
2026-08-01Concall / analyst meetTranscript
2026-07-30Record DateRecord date for the purpose of Dividend is 13-Aug-2026.
2026-07-30Shareholder meetingNotice of Annual General Meeting to be held on August 21, 2026.
2026-07-27General UpdatesEarnings Conference Call Recording.
2026-07-27Concall / analyst meetLink of Recording
2026-07-26Concall / analyst meetPresentation
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Close to Close price movement greater than 75perc in previous 6 monthsHigh low price variation greater than 100perc in previous 6 monthsHigh low price variation greater than 150perc in previous 12 monthsScrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of Neogen Chemicals Ltd?

Neogen Chemicals Ltd (NEOGEN) has a market capitalisation of Rs 7,316 Cr. at the 2026-10-01 close.

What is the P/E ratio of Neogen Chemicals Ltd?

Neogen Chemicals Ltd trades at a P/E of 206 on trailing twelve-month profit, at the 2026-10-01 close.

What were Neogen Chemicals Ltd's latest quarterly results?

In the Jun 2026 quarter, Neogen Chemicals Ltd sales was Rs 250 Cr (+33.7% vs Jun 2025) and net profit was Rs 17 Cr.

What is the 52-week high and low of Neogen Chemicals Ltd?

The 52-week high is Rs 2,499.70 and the 52-week low is Rs 966.70.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03