Neogen Chemicals Q4 Review - Next Growth Phase To Emanate From Pharma Venture: ICICI Direct

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ICICI Direct Report

Neogen Chemicals Ltd. reported topline growth of 13% YoY to Rs 92.7 crore against our expectation of Rs 87.1 crore.

The growth was driven by higher growth in the inorganic chemical segment (up 31% YoY) largely on account of better volume growth.

Revenue from organic chemical was up 7% YoY to Rs 72 crore.

Growth from organic chemical segment remained subdued owing to capacity constraint.

Operating profit margin for the quarter expanded 80 basis points YoY to 20% leading to Ebitda growth of 17% YoY to Rs 18.5 crore versus our estimate of Rs 17.2 crore.

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