Neogen Chemicals Q2 FY27 Results: Consolidated Net Profit ₹8.23 Crore on Total Income of ₹300 Crore
- Earnings
- Specialty chemicals
Reviewed byKeshav SehgalBlacklitt Research
Neogen Chemicals (NSE: NEOGEN) reported consolidated total income of ₹299.92 crore and net profit of ₹8.23 crore for the quarter ended 30 Sep 2026, it said in a filing on 31 Oct 2026. Standalone total income was ₹296.28 crore and standalone net profit ₹21.14 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹299.92 crore, up 42.4% YoY and 18.0% QoQ
- Net profit: ₹8.23 crore, up 144.2% YoY and down 51.3% QoQ
- EPS: ₹2.96 basic, against ₹1.28 a year earlier
- Finance costs: ₹27.78 crore, up 42.6% YoY
Standalone
The company on its own, without its subsidiaries
- Total income: ₹296.28 crore, up 40.4% YoY and 13.9% QoQ
- Net profit: ₹21.14 crore, up 127.1% YoY and 8.7% QoQ
- EPS: ₹7.60 basic, up 115.3% YoY
- Insurance claim receivable: ₹171.52 crore as at 30 Sep 2026
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 299.92 | 210.55 | +42.4% | 254.15 | +18.0% | |
| Revenue from operations | 295.96 | 208.66 | +41.8% | 250.29 | +18.2% |
| Other income | 3.96 | 1.89 | +109.5% | 3.86 | +2.6% |
| 8.23 | 3.37 | +144.2% | 16.91 | -51.3% | |
| Finance costs | 27.78 | 19.48 | +42.6% | 20.81 | +33.5% |
| Depreciation | 8.79 | 7.31 | +20.2% | 8.20 | +7.2% |
| Tax expense | -4.09 | -1.82 | -124.7% | 6.17 | n/a |
| Net profit margin | 2.74% | 1.60% | +1.14 pp | 6.65% | -3.91 pp |
| EPS, basic (₹) | 2.96 | 1.28 | +131.3% | 6.29 | -52.9% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit grew much faster than income over the year but fell sharply from the previous quarter. Net profit of ₹8.23 crore is up 144.2% on ₹3.37 crore a year earlier, while total income rose 42.4%. Against the previous quarter, net profit fell 51.3% while total income rose 18.0%.
Finance costs of ₹27.78 crore are 9.3% of total income, up 42.6% YoY. Other income of ₹3.96 crore is 1.3% of total income. The tax line is a credit of ₹4.09 crore for the quarter, and the filing does not give the reason for the deferred tax credit.
The consolidated net profit of ₹8.23 crore is ₹12.91 crore lower than the standalone figure of ₹21.14 crore. The consolidated results include the Dahej SEZ fire, with a balance insurance claim receivable of ₹185.74 crore at 30 Sep 2026. The company says a further ₹152.00 crore was approved after the quarter, to be released in due course, and management considers the balance fully recoverable. The statements report no exceptional items in the quarter.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 296.28 | 211.05 | +40.4% | 260.18 | +13.9% | |
| Revenue from operations | 288.00 | 206.68 | +39.3% | 252.28 | +14.2% |
| Other income | 8.28 | 4.37 | +89.5% | 7.90 | +4.8% |
| 21.14 | 9.31 | +127.1% | 19.44 | +8.7% | |
| Finance costs | 26.55 | 20.60 | +28.9% | 23.10 | +14.9% |
| Depreciation | 7.01 | 6.39 | +9.7% | 6.83 | +2.6% |
| Tax expense | 7.29 | 3.02 | +141.4% | 6.74 | +8.2% |
| Net profit margin | 7.14% | 4.41% | +2.72 pp | 7.47% | -0.34 pp |
| Tax as share of profit before tax | 25.6% | 24.5% | +1.15 pp | 25.8% | -0.15 pp |
| EPS, basic (₹) | 7.60 | 3.53 | +115.3% | 7.15 | +6.3% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit of ₹21.14 crore is up 127.1% YoY and 8.7% QoQ, and grew more slowly than profit before tax, which rose 130.6% YoY. Tax was 25.6% of profit before tax, against 24.5% a year earlier. Revenue from operations rose 39.3% YoY, slower than other income, which rose 89.5%.
Other income of ₹8.28 crore is 2.8% of total income. Finance costs of ₹26.55 crore are 9.0% of total income, up 28.9% YoY. Standalone total income of ₹296.28 crore is ₹3.64 crore below consolidated total income, and standalone net profit is higher than consolidated net profit.
The company completed a Qualified Institutions Placement on 16 Sep 2026, allotting 26,60,753 equity shares at ₹2,255 each for gross proceeds of ₹600 crore and net proceeds of ₹580 crore. The statement of deviation says ₹230.35 crore was utilised in the quarter, with ₹349.65 crore unutilised at 30 Sep 2026.
Crisil downgraded the company's long-term rating to Crisil A-/Negative from Crisil A/Negative on 17 Jul 2026, and the NCD coupon rose from 10.50% to 11.00% a year. Crisil revised the outlook to stable on 25 Sep 2026. The Board also approved expanding the Organo-Lithium facility at Patancheru from 300 MT/PA to 600 MT/PA, with investment of up to ₹45 crore, and Neogen Morita New Materials ceased to be a wholly owned subsidiary from 2 Oct 2026.
Inference
The filing says the Board approved a voluntary early redemption of NCDs of ₹200 crore, subject to approvals and to a date the company will determine. The filing does not give that date, so the timing of the redemption is not known.
The Board has also sought shareholder approval through a postal ballot for material related party transactions with Neogen Morita New Materials Limited, with remote e-voting from 7 Nov 2026 to 6 Dec 2026. Not stated: the reason for the fall in consolidated profit before tax against the previous quarter.
Filed with BSE on . Reference: Original filing (PDF)
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