Neogen Chemicals Limited reported its financial results for the fourth quarter and full year ended March 31, 2026. On a consolidated basis, revenue for Q4 FY26 stood at INR 247 crore, registering a growth of 22% year-on-year. EBITDA increased by 21% year-on-year to INR 44 crore, with margins sustained at 17.8%. Profit after tax for the quarter was INR 11 crore. The company's growth was driven by improved volumes and sustained high plant utilization across core businesses.

Financial Performance

Neogen Ionics, the battery materials subsidiary, contributed INR 13 crore to Q4 revenues and INR 36 crore for the full year. For the full year FY26, revenue stood at INR 862 crore, a growth of 11% year-on-year, while EBITDA increased to INR 137 crore and PAT stood at INR 29 crore.

Segment Performance

Operational verticals showed mixed performance. Organic Chemicals recorded revenue of INR 194 crore, up 7% year-on-year. The Inorganic Chemicals segment delivered a standout performance with INR 53 crore in revenue, marking a 145% expansion over the previous year. This growth was largely volume-driven, supported by new customer additions and the ability to recycle lithium from the organolithium plant.

Strategic Developments and Guidance

The Board has recommended a final dividend of INR 1 per equity share for FY26. Looking ahead, the company remains confident of achieving standalone revenues in the range of INR 875 crore to INR 950 crore in FY27. This guidance excludes the battery chemicals business. For Neogen Ionics, the company expects revenue potential of INR 300 crore plus in FY27, with the majority expected in the second half as the Pakhajan facility ramps up.

Project Updates

Construction of the Dahej replacement facility is progressing rapidly, with commissioning on track for June 2026. The Pakhajan greenfield site has achieved a significant milestone with the completion of mechanical assembly for the electrolyte plant. Commercial manufacturing for electrolyte is targeted for H1 FY27, while electrolyte salts are expected in H2 FY27. The company received a recent insurance claim tranche of INR 60 crore in February 2026, bringing total cumulative claims received to INR 140 crore plus a salvage realization of INR 7 crore.

Neogen Chemicals anticipates revenue growth in H2 FY27, driven by new manufacturing capacities coming online, according to CNBC TV18. The specialty chemicals manufacturer has already commenced trial production at its Dahej plant, marking a key operational milestone in its broader capacity expansion strategy.

Key Developments at a Glance

The following table summarizes the major announcements from Neogen Chemicals:

Manufacturing Ramp-Up Underway

The commencement of trial production at the Dahej plant represents a significant step in Neogen Chemicals' manufacturing ramp-up. Alongside this, the company has outlined plans to start its electrolyte plant by September 2026, adding further capacity to its production infrastructure. These developments collectively underpin the company's expectation of stronger revenue performance in H2 FY27 as new capacities progressively become operational.