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Neogen Chemicals Ltd.
(NEOGEN)
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Rating:51Neutral
Price Target:
₹2,035.00
▲(75.90% Upside)
Action:Reiterated
Date:07/01/26
The score is held back primarily by weakening financial quality (margin compression, sharply higher leverage, and negative operating/free cash flow), which raises funding and execution risk. Technicals are supportive with a clear uptrend and positive momentum, but valuation remains demanding due to the very high P/E despite a solid dividend yield.
Positive Factors
Specialty chemistry focus and end-market mix
Neogen’s concentration on bromine- and lithium-based specialty chemistries supplies critical intermediates to pharma, agrochemical and industrial clients. These application-specific chemistries require technical know-how and quality controls, creating higher switching costs and durable customer stickiness across end markets.
Negative Factors
Sharply higher leverage
A rapid increase in debt materially raises financial risk and reduces balance-sheet flexibility. Elevated leverage amplifies vulnerability to interest-rate moves and economic slowdowns, limits capacity for strategic investments, and increases refinancing pressure given the company’s weaker cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Specialty chemistry focus and end-market mix
Neogen’s concentration on bromine- and lithium-based specialty chemistries supplies critical intermediates to pharma, agrochemical and industrial clients. These application-specific chemistries require technical know-how and quality controls, creating higher switching costs and durable customer stickiness across end markets.
Read all positive factors
Neogen Chemicals Ltd. (NEOGEN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹54.94B
Dividend Yield0.09%
Average Volume (3M)9.36K
Price to Earnings (P/E)191.5
Beta (1Y)1.49
Revenue Growth10.86%
EPS Growth-17.60%
CountryIN
Employees588
SectorGeneral
Sector StrengthN/A
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)10.89
Shares Outstanding26,381,674
10 Day Avg. Volume1,157
30 Day Avg. Volume9,357
Financial Highlights & Ratios
PEG Ratio-5.85
Price to Book (P/B)3.59
Price to Sales (P/S)3.40
P/FCF Ratio-3.28
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)17.97
Revenue Forecast (FY)₹12.52B
Neogen Chemicals Ltd. Business Overview & Revenue Model
Company Description
Neogen Chemicals Limited, founded in Thane, India, in 1989, is engaged in the manufacturing and supply of an extensive array of specialized chemical products. The company's comprehensive portfolio encompasses numerous organo-bromine compounds, inc...
How the Company Makes Money
Neogen makes money primarily by manufacturing and selling specialty chemical products and intermediates, with revenue recognized from customer orders/contracts for these materials. Key revenue streams typically include: (1) Bromine-based specialty...
Neogen Chemicals Ltd. Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
38
Negative
Cash Flow
24
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 8.62B | 7.78B | 6.91B | 6.86B | 4.87B |
| Gross Profit | 2.78B | 3.54B | 1.42B | 2.98B | 1.40B |
| EBITDA | 1.44B | 1.36B | 1.13B | 1.16B | 865.60M |
| Net Income | 287.50M | 348.30M | 356.50M | 499.70M | 446.30M |
Balance Sheet | |||||
| Total Assets | 29.02B | 17.47B | 14.61B | 10.54B | 7.99B |
| Cash, Cash Equivalents and Short-Term Investments | 49.50M | 49.60M | 124.90M | 967.60M | 1.14B |
| Total Debt | 13.95B | 5.97B | 4.09B | 3.70B | 2.29B |
| Total Liabilities | 20.86B | 9.58B | 7.01B | 5.71B | 3.60B |
| Stockholders Equity | 8.16B | 7.89B | 7.60B | 4.83B | 4.39B |
Cash Flow | |||||
| Free Cash Flow | -8.93B | -1.22B | -3.32B | -1.34B | -1.69B |
| Operating Cash Flow | -3.37B | 1.96B | -291.50M | -303.50M | 14.10M |
| Investing Cash Flow | -4.14B | -3.17B | -2.16B | -944.60M | -1.46B |
| Financing Cash Flow | 7.51B | 1.13B | 2.37B | 1.00B | 1.88B |
Neogen Chemicals Ltd. Technical Analysis
Positive
1156.90
Price Trends
1851.93
Positive
1612.95
Positive
1454.45
Positive
Market Momentum
46.90
Positive
63.67
Neutral
73.47
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NEOGEN, the sentiment is Positive. The current price of 1156.9 is below the 20-day moving average (MA) of 1975.96, below the 50-day MA of 1851.93, and below the 200-day MA of 1454.45, indicating a bullish trend. The MACD of 46.90 indicates Positive momentum. The RSI at 63.67 is Neutral, neither overbought nor oversold. The STOCH value of 73.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:NEOGEN.
Neogen Chemicals Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹100.22B | 55.57 | ― | 0.62% | -2.29% | -3.26% | |
63 Neutral | ₹78.24B | 46.55 | ― | 0.97% | 2.00% | 6.14% | |
63 Neutral | ₹40.20B | 28.17 | ― | 0.05% | 11.28% | 10.48% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | ₹54.94B | 191.47 | ― | 0.09% | 10.86% | -17.60% | |
49 Neutral | ₹30.92B | 73.78 | ― | 0.07% | 32.18% | 636.02% | |
48 Neutral | ₹43.09B | 54.37 | ― | 0.29% | -4.65% | -30.36% |
* General Sector Average
IN:NEOGEN
Neogen Chemicals Ltd.
2,082.35
486.67
30.50%
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IN:BALAMINES
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IN:LXCHEM
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155.45
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IN:TATVA
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IN:VISHNU
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100.61
20.26%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.