India · Delayed Price · Currency is INR Neogen Chemicals Earnings Call Transcripts
Fiscal Year 2026
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Q4 FY 2026 saw 22% YoY revenue growth and robust EBITDA, driven by strong demand and high utilization. Battery materials are set to drive future growth, with FY 2027 guidance of INR 875–950 crore standalone and INR 300 crore+ from battery chemicals, as new capacities ramp up.
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Q3 FY26 saw 9% revenue growth and margin expansion, though PAT was impacted by transitory costs from the Dahej fire and Neogen Ionics ramp-up. Battery chemical guidance for FY27 remains at INR 400-500 crore, with major capacity expansions and customer approvals on track.
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Q2 FY 2026 delivered 8% revenue growth and 16% gross profit improvement, but profitability was constrained by higher costs from a plant outage and delayed battery chemical demand. Battery Chemicals revenue guidance was revised down for FY 2026, with strong growth expected from FY 2027 as customer approvals and industry ramp-up materialize.
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Q1 FY26 saw resilient performance with 4% revenue growth despite Dahej plant outage, strong base business volumes, and initial Neogen Ionics sales. Major CapEx and insurance recovery are on track, with robust long-term outlook and growing global demand for non-China battery materials.
Fiscal Year 2025
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Revenue grew 13% and EBITDA 24% in FY25 despite a fire at Dahej, which led to revised FY26 guidance. Strategic expansion in lithium and battery materials is underway, with a JV formed for lithium salts and significant capacity additions planned. Margins improved, and future growth depends on customer approvals and market ramp-up.
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Q3 FY25 saw 22% revenue and 71% EBITDA growth, driven by BuLi Chem ramp-up and strong organic volumes. Battery chemicals revenue for FY25 is expected at INR 20-30 crore, with FY26 guidance at INR 300-500 crore, contingent on customer approvals and ramp-up.
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Q2 FY25 saw 20% revenue growth and 33% EBITDA rise, driven by strong organic segment and BuLi Chemicals. Battery chemical revenue for FY25 is guided at INR 50–75 crore, with FY26 expected at INR 400–500 crore. CapEx and capacity expansions are on track.
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Q1 FY25 saw 9% revenue and 18% profit growth, driven by strong organic performance and battery chemical expansion. Capacity ramp-up and long-term contracts are on track, with positive cash flow and robust demand for non-Chinese supply.