Neogen Chemicals (NEOGEN) Q4 24/25 earnings summary

Executive summary

• Achieved 13% year-over-year consolidated revenue growth in FY25, reaching INR 778 crore, with EBITDA up 24% to INR 136 crore, despite global pricing pressures and a fire incident at the Dahej facility.

• PAT for FY25 was INR 34.8 crore, down 2% due to an exceptional charge from the fire; profitability would have been higher without this loss.

• Maintained operational agility by shifting production to high-demand segments and began construction of a replacement plant at Dahej.

• Strategic expansion into lithium and battery materials, including a JV with Morita Chemical Industries and new subsidiary formation.

• Audited standalone and consolidated financial results for Q4 and FY25 approved, with unmodified audit opinions from statutory auditors.

Financial highlights

• FY25 consolidated revenue reached INR 778 crore, up 13% year-over-year; standalone revenue was INR 773.7 crore, up 10%.

• Organic revenue grew 22% to INR 666 crore; inorganic revenue was INR 112 crore.

• EBITDA rose 24% to INR 136 crore, with margin improvement to 17.5% (up 160 bps year-over-year).

• PAT for FY25 was INR 34.8 crore, down 2% due to INR 14 crore exceptional charge from the fire.

• Q4 FY25 revenue was INR 203 crore, EBITDA INR 36 crore, and PAT INR 2 crore, impacted by fire-related exceptional items.

Outlook and guidance

• FY26 revenue guidance revised to INR 750–850 crore due to fire incident; battery chemicals segment expected to contribute INR 300 crore, with upside dependent on customer approvals.

• FY27 battery chemicals revenue targeted at over INR 1,000 crore, contingent on market share and salt volume ramp-up.

• EBITDA margin guidance for FY26 at 17–18%, with full utilization margins expected at 18.5% ±1% in FY27.

• Company and group continue to focus on specialty chemicals as a single operating segment.

• Expansion into lithium-ion battery materials through new subsidiary and JV discussions signals growth in advanced materials.