Neogen Chemicals witnessed a significant inter-se transfer within its promoter group as Beena Kanani Family Trust acquired 26,38,250 equity shares representing 10.00% of the company's paid-up share capital from Beena Haridas Kanani on December 31, 2025. The transaction was executed as an off-market gift transfer under SEBI exemption regulations, maintaining the overall promoter group holdings unchanged.

Regulatory Compliance and SEBI Exemption

The share transfer was conducted under SEBI exemption order WTM/KCV/CFD/17/2025-26 dated December 30, 2025, granted under Regulation 11(5) of SAST Regulations. Beena Kanani Family Trust submitted comprehensive regulatory disclosures to both BSE and NSE on January 1, 2026, ensuring full compliance with Regulation 29(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Transaction Details and Shareholding Changes

The inter-se transfer resulted in substantial redistribution within the promoter group while maintaining the aggregate promoter holdings at 11.42%. Beena Kanani Family Trust, previously holding no shares, emerged as a significant promoter shareholder with a 10% stake in the company.

Trust Structure and Promoter Classification

Beena Kanani Family Trust, managed by Dr. Harin Kanani as Managing Trustee, will be classified as a promoter shareholder post-acquisition. The trust is registered at Unit No.115 Vardhman Industrial Complex, Old Agra Road, Thane (W) - 400601, with contact details provided for regulatory correspondence.

Company Capital Structure

The transaction involved shares of Neogen Chemicals Limited, which has a total paid-up capital of ₹26,38,16,740 comprising 2,63,81,674 equity shares of face value ₹10.00 each. The company's shares are listed on both BSE (Scrip Code: 542665) and NSE (Symbol: NEOGEN), ensuring comprehensive market access and regulatory oversight.

The inter-se transfer demonstrates strategic family succession planning within the promoter group while maintaining full regulatory compliance through proper documentation and timely disclosures to stock exchanges. The transaction ensures continuity in promoter control while facilitating internal restructuring through the trust mechanism.

Neogen Chemicals Limited , a leading specialty chemicals manufacturer, has reported an 8% year-on-year revenue growth to INR 209.00 crore in Q2, despite facing operational challenges. The company's performance was marked by resilience in the face of a fire incident at its Dahej plant, which led to increased costs and a revised outlook for its battery chemicals business.

Financial Highlights

• Revenue: INR 209.00 crore, up 8% year-on-year
• Gross Profit: Improved by 16%, with a 350 basis points margin expansion
• EBITDA and PAT: Affected by elevated costs related to the Dahej plant fire incident

Operational Resilience

Dr. Harin Kanani, Managing Director of Neogen Chemicals, highlighted the company's operational resilience in Q2. Despite the temporary impact of the Dahej plant outage, Neogen swiftly relocated production to alternate plants and leveraged capacity from key outsource partners. This strategic maneuver ensured the maintenance of volume trajectory, although it incurred additional temporary costs.

Battery Chemicals Business Update

The company has revised its guidance for the battery chemicals business due to delays in Indian gigafactory ramp-ups and customer approvals:

• Revenue Forecast: Revised to INR 30.00-40.00 crore (down from the earlier estimate of INR 300.00 crore)
• Future Revenue Projection: INR 400.00-500.00 crore

Dr. Kanani explained, "We anticipate mechanical completion before the end of this year and then commence trial production followed by commercial production in first half of FY27, which is April to September 2026 and electrolyte salt in H2 of FY27 aligning with the expected rollout of ACC battery capacities in India and growing non-FEOC global demand for the salt."

Strategic Developments

Indo-Japan Joint Venture

Neogen has formed a strategic joint venture with Morita Investments for lithium-ion battery materials, positioning itself as a key player in the non-FEOC (Foreign Entities of Concern) compliant supply chain.

Customer Approvals

A leading Indian gigascale customer has completed the stringent Production Part Approval Process (PPAP) for Neogen's Dahej plant, approving it for long-term commercial electrolyte supply.

International Market Response

The company received positive feedback from the international community for its joint venture, offering a combination of low cost from India with reliability from international technology for electrolyte salt.

Future Outlook

Neogen Chemicals remains committed to its long-term growth strategy, focusing on volume growth, operational efficiency, and transformative projects. The company aims to achieve full utilization of its battery chemicals capacity by FY29, with projected revenues of INR 2,400.00-2,900.00 crore at full utilization.

Dr. Kanani concluded, "Despite global economic headwinds, our commitment to volume growth, enhancing operational efficiency and driving transformative projects reinforces our confidence in achieving a robust long-term trajectory and delivering sustainable value creation."

As Neogen Chemicals navigates through these challenges and opportunities, investors and industry observers will be keenly watching the company's progress in the rapidly evolving specialty chemicals and battery materials markets.