Neogen Chemicals Reports 9% Revenue Growth in Q3 FY26; PAT Rises 63% YoY, Board Approves ₹150 Crore Preferential Issue

Mumbai, February 12, 2026: Neogen Chemicals Limited (NSE: NEOGEN; BSE: 542665) reported resilient financial performance for the quarter ended December 31, 2025, with consolidated revenue rising 9 percent year-on-year to ₹220 crore in Q3 FY26. The company also announced in-principle approval to raise up to ₹150 crore through a preferential issue of equity shares to the Promoter Group.

Q3 FY26 Financial Performance​

On a consolidated basis, Neogen delivered revenue of ₹220 crore in Q3 FY26, compared to the corresponding quarter last year, supported by increased volumes across Organic and Inorganic Chemicals. EBITDA stood at ₹32 crore, while Profit After Tax rose 63 percent YoY to ₹4 crore. Earnings per share for the quarter came in at ₹1.40 per share, not annualised.

Consolidated Performance​

On a standalone basis, revenue stood at ₹216 crore, up 8 percent YoY. EBITDA came in at ₹36 crore, while PAT rose 39 percent to ₹9 crore.

Standalone Performance​

Neogen Ionics Limited, the company’s battery materials subsidiary, reported revenue of ₹12 crore during the quarter.
Profitability during the period was impacted by post-fire operating and insurance-related costs, along with higher finance costs linked to the Dahej plant reconstruction and expansionary investments in Neogen Ionics. The company expects cost normalization following insurance payouts.

Management Commentary​

Dr. Harin Kanani, Managing Director, Neogen Chemicals, said the Q3 FY26 performance reflects a steady recovery and a strategic pivot toward a future-ready portfolio.
He highlighted sustained resilience in non-agchem applications including pharma, flavours and fragrances, supported by product optimization initiatives and the upcoming replacement plant in Dahej.
On the battery materials segment, he noted that as Indian gigawatt players launch capacities, Neogen is positioned as a cost-efficient lithium salt and electrolyte supplier leveraging proven Japanese technologies. The company anticipates bulk consignments of lithium salts by H1 FY27 as large-scale customer approvals are finalized.
The Greenfield Pakhajan Electrolyte plant is nearing mechanical completion, with assembly underway for specialized MUIS technology equipment.

Fire Incident Update and Insurance Recovery​

During the nine months ended December 31, 2025, Neogen received ₹83.48 crore, including ₹80 crore as on-account payment from the insurance company. The net claim receivable has reduced to ₹251.12 crore.
Construction of the replacement plant is progressing rapidly, with commissioning scheduled for Q1 FY27.

Expansion and Capacity Update​

Battery Chemicals Business​

The company had announced a new capacity of 400 MTPA for Lithium Electrolyte Salts and Additives. Of this:

• 200 MTPA has been commissioned and first approval material shipped.
• The remaining 200 MTPA is under trial production.
• Additional 1,100 MT capacity is expected to be commissioned by March 2026.
• Another 1,000 MT is scheduled for commissioning in Q1 FY27.

A 2,000 MT Electrolyte plant at Dahej has been fully commissioned.

Indo-Japan JV Strengthens Battery Materials Strategy​

Neogen Ionics has concluded a joint venture with Japan’s Morita Investment Limited to produce, develop, and sell solid LiPF6 salt globally.
Neogen will hold an 80 percent majority stake in the new entity, Neogen Morita New Materials Limited, while Morita Investment Limited will contribute $20 million for a 20 percent stake.
The JV leverages over 30 years of Japanese technology and positions the company with India’s only non-FEOC compliant electrolyte salt plant using proven Japanese technology.
The Pakhajan Greenfield project remains on track, with commercial production of Electrolyte targeted in H1 FY27 and Electrolyte Salt in H2 FY27. The company has completed PPAP and secured long-term commercial supply approval from a giga-scale Indian customer for Electrolyte, with further scale-up underway. Provisional approvals for Lithium Electrolyte Salts from multiple international customers have been received, with final site audits expected by Q1 FY27.

Preferential Issue of ₹150 Crore​

The Board has granted in-principle approval to raise up to ₹150 crore through a preferential issue of equity shares to the Promoter Group, reinforcing promoter commitment toward long-term growth.

About Neogen Chemicals Limited​

Incorporated in 1989, Neogen Chemicals Limited is a leading manufacturer of Bromine-based and Lithium-based specialty chemicals in India. The company has a diversified portfolio of over 258 products catering to pharmaceutical and agrochemical intermediates, engineering fluids, electronic chemicals, polymer additives, water treatment, construction chemicals, flavours and fragrances, specialty polymers, and lithium-ion battery materials for EV and energy storage applications.
Neogen operates four manufacturing facilities located at Mahape in Navi Mumbai, Dahej SEZ in Bharuch, Karakhadi in Vadodara, and Patancheru in Hyderabad. The company also has a wholly owned subsidiary, Neogen Ionics Limited, dedicated to battery materials projects, with one of the earliest LIB electrolyte facilities at its Dahej SEZ site since April 2024.
The company is listed on both the National Stock Exchange of India and BSE Limited under the symbol NEOGEN and scrip code 542665, respectively.