āagman

Not investment advice. Data and computed figures, for information only.

Neogen Chemicals Ltd

NSE: NEOGEN
₹2,507.60
−₹180.30 (−6.71%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹7,145 Cr
CMP
₹2,507.60
52-wk High / Low
₹2,785 / 967
P/E
201.0
P/B
7.7
Book Value
₹309.0
Div Yield
0.04%
ROCE
6.0%
ROE
3.6%
Face Value
₹10
D/E
1.71

Price+66.0% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 13 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
2
/ 9
2 of 9 F-score tests passed
Graham Number
₹275
√(22.5 × EPS × book value per share)
ROIC
3.5%
vs 7.5% sector median
Cash flow to profit
−7.97
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+209
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
3.3%
ROE × earnings retention ratio
ROE stability
3.0
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom −2.91FII +0.05DII +0.78
Latest quarter vs the previous one
Cash-accrual divergence
11.2%
of assets
Low = accruals track cash flow
Strengths
+Price trades above its 200-day moving average (1.4x)
+Price is within 10% of its 52-week high (-10.0%)
+FII holding rose by 0.4pp over the last year
Watch-outs
−Latest ROCE of 6% trails the sector median of 12%
−Borrowings are up 5265.4% since FY2016 (26 to 1395)
−Annualised volatility of 51.0% is in the high band (≥45%)
−Promoter holding fell by 11.9pp over the last year
−Piotroski F-Score of 2/9 is in the weak band (≤3)
−Balance-sheet accruals of 11.2% of average assets — earnings are not cash-backed

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales165162164200180193201203187209220247250
Expenses137136144164149159167166155179188203202
Operating Profit28262036313535363230324448
OPM %17.0%16.0%12.2%18.0%17.2%18.1%17.4%17.7%17.1%14.4%14.5%17.8%19.2%
Other Income2222211−1312214
Interest11111110101313121319222121
Depreciation5666777767788
Profit before tax1411622161515414561623
Net Profit108117111110210341117
EPS (₹)3.913.180.406.424.354.153.790.913.891.281.404.326.25

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales84100110161239306336487686691778862926
Expenses718690132196248272401575581641725772
Operating Profit1314202943586487112110136137154
OPM %15.5%14.0%18.2%18.0%18.0%19.0%19.0%17.9%16.3%15.9%17.5%15.9%16.6%
Other Income1001101158−1069
Interest55810121214192942487583
Depreciation1112357121623282830
Profit before tax881217294144577153504150
Net Profit55811212931455036352936
EPS (₹)11.312.593.845.4910.4312.2813.4317.9020.0413.5113.2010.9013.25

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 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—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
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−6−4330246351188100237113642
Net Cash Flow101−10−1044−25−8−80

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %27.026.023.023.026.022.017.014.013.09.09.06.0
ROE %———————————3.6
EPS (₹)11.312.593.845.4910.4312.2813.4317.9020.0413.5113.2010.90
Book Value (₹)———————————309.0
Face Value (₹)———————————10
P/E———————————201.0
Div Yield %———————————0.04
NPM %5.95.07.36.88.89.59.29.27.25.24.63.3
OPM %15.014.018.018.018.019.019.018.016.016.018.016.0
D/E1.040.931.641.641.710.881.210.520.770.540.761.71
P/B———————————7.7

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+24.0%
5 years+21.0%
3 years+8.0%
TTM+18.0%
Compounded profit growth
10 years+19.0%
5 years−2.0%
3 years−17.0%
TTM−12.0%
Stock price CAGR
5 years+14.0%
3 years+11.0%
Last year+57.0%
Return on equity
10 years9.0%
5 years7.0%
3 years5.0%
Last year4.0%

Shareholding pattern

As of 30 Sep 2025
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters70.01%70.01%64.33%60.19%60.18%56.89%51.22%51.22%48.31%
FIIs0.55%0.55%4.78%4.36%4.13%4.56%7.79%4.46%4.51%
DIIs17.13%17.13%14.79%18.64%20.01%22.14%22.75%22.65%23.43%
Government—————————
Public12.32%12.32%16.10%16.81%15.68%16.42%18.22%21.67%23.75%
No. of shareholders9,2489,24818,57839,62651,68648,35646,10454,33268,410
Change since Sep 2023 (pp)
Promoters −21.70FIIs +3.96DIIs +6.30Public +11.43

Documents

As of 11 Oct 2026
Announcements
Disclosure Pursuant To Regulation 30(9) Read With Schedule III Of The SEBI (LODR) Regulations, 2015.Announcement under Regulation 30 (LODR)-Credit RatingClosure of Trading WindowAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAnnouncement under Regulation 30 (LODR)-Press Release / Media Release
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingMay 2026TranscriptMay 2026PPTMay 2026RecordingFeb 2026TranscriptFeb 2026PPTFeb 2026RecordingNov 2025TranscriptNov 2025PPTNov 2025RecordingAug 2025Transcript

Corporate actions

As of 13 Aug 2026
13 Aug 2026DIVIDENDDividend - Re 1 Per Share—
19 Sep 2025DIVIDENDDividend - Re 1 Per Share—
19 Sep 2024DIVIDENDAnnual General Meeting/Dividend - Rs 2 Per Share—
25 Aug 2023DIVIDENDAnnual General Meeting/Dividend - Rs 3 Per Share—
19 Sep 2022DIVIDENDAnnual General Meeting/Dividend - Rs 2.75 Per Share—
16 Sep 2021DIVIDEND Dividend - Rs 2.25 Per Share—
17 Sep 2020DIVIDEND Annual General Meeting/Dividend - Rs 2 Per Share—
11 Sep 2019DIVIDEND Dividend - Rs 1.50 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman