AI-generated · cited to primary sources · not investment advice
Neogen Chemicals (542665) May 2026 Filing Analysis
Does management do what it says?
Q1 FY27 Neogen Ionics revenue reached INR 19 crore, up from INR 5 crore in Q1 FY26. This is early progress, but only about 6.3% of the INR 300 crore annual target has been delivered, with most revenue expected in H2. (2 in progress across 2 tracked commitments)
“The electrolyte salt and electrolyte, the Neogen Ionics revenue potential we had mentioned last year to be INR 300 crore plus. The same remains the current guidance also. We expect to have a INR 300 crore plus kind of revenue from our NIL business. However, this will mostly be in the second half.”
Build total Neogen Ionics gross block of approximately INR 1,700–1,800 crore by the end of FY27. — target: INR 1,700–1,800 crore gross block (+4 more commitments)
“I think the total gross block of Neogen Ionics would be around INR 1,700 crore to INR 1,800 crore at the end of FY27 as most of the CAPEX will be completed.”
Start commercial supplies from the Dahej electrolyte facility by July or August 2026 following customer audits and corrective actions. — target: Commercial supplies to begin by July–August 2026 (+4 more commitments)
“Post audit, they have given us some corrections which we expect to complete within one or two months. And then once we demonstrate that, gradually the commercial supplies can start. So, we expect by July or August 2026, we will have commercial supply start.”
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