Neogen Chemicals Reports Q3 Results; Board Approves Up to Rs 600 Crore Fund Raise and Appoints Internal Auditor

Neogen Chemicals Reports Q3 Results; Board Approves Up to Rs 600 Crore Fund Raise and Appoints Internal Auditor​

Neogen Chemicals Limited announced several key outcomes following its Board meeting held on July 24, 2026. The company released its un-audited financial results for the quarter ended June 30, 2026, alongside details regarding future fundraising and operational appointments.

The Board considered and approved the Un-audited (Standalone & Consolidated) Financial Results of the Company for the quarter ended June 30, 2026, which included a Limited Review Report by M/s Chandabhoy Jassoobhoy, Chartered Accountants. The company's management also presented the Integrated Annual Report for FY 2025-26.

Financial Performance Highlights (Q Ended June 30, 2026)​

The results provide insights into the operational performance across both standalone and consolidated segments of the group.

Standalone Financial Results Summary:
For the quarter ended June 30, 2026, Neogen Chemicals reported Total Income (net) of 260.18 Crore. The company recorded a profit for the period of 19.44 Crore, against a total revenue from operations of 252.28 Crore.

Consolidated Financial Results Summary:
The Group reported Total Income (net) of 254.15 Crore, with profits before tax amounting to 23.28 Crore for the quarter ended June 30, 2026. The consolidated company registered a total comprehensive income of 17.28 Crore in the period.

A comparison of key financial metrics is presented below:

Strategic Approvals and Corporate Governance Decisions​

During the meeting, the Board of Directors approved several significant strategic matters:

• Fund Raising: The company received in-principle approval for raising up to Rs 600 crores in Indian or foreign currency through various instruments, including equity shares or qualified institutional placements (QIP).
• Auditor Appointment: CNK & Associates LLP was appointed as the Internal Auditor of Neogen Chemicals Limited for FY 2026-27.
• AGM Convening: The Board also approved the convening of the 37th Annual General Meeting (AGM) on Friday, August 21, 2026, through video conferencing and Other Audio-Visual Means (OAVM).

Debt Securities and Financial Health Update​

The company's financial health metrics showed steady performance across various ratios. The latest reporting period saw the firm record a Current Ratio of 1.27 times (Unaudited), while its Net Worth stood at 1,000.96 Crore. The Debt Equity ratio was recorded at 0.68 times.

In related financial reporting, it was noted that Crisil Ratings Limited downgraded the company's rating on July 17, 2026, to "Crisil A2" (for short-term facilities) and "Crisil A-" (for long-term facilities). Following this downgrade, the coupon rate of the NCDs amounting to Rs 200 crore increased from 10.50% p.a. to 11.00% p.a., effective from July 17, 2026.

Operational and Subsidiary Updates​

In addition to these results, the Board of Neogen Morita New Materials Limited (NML) approved an increase in its borrowing powers under section 180 (1) (c) of the Companies Act, 2013, up to Rs 500 Crore, along with the subsequent creation of security/charge on NML’s properties.

The company also issued a Statement of Deviation and Variation regarding the utilization of funds raised through the Preferential Issue for the quarter ended June 30, 2026. This statement confirmed that there was no deviation or variation in the utilization of proceeds from the preferential issue.

NEOGEN Stock Price Movement​

Shares of Neogen Chemicals Limited shed 1.53%, settling at ₹2062.8 today after trading lower by ₹32.00. The stock saw moderate activity in the post-market session, with 54,018 shares recorded being traded.