Neogen Chemicals reports resilient Q2 FY26 performance despite plant fire

Neogen Chemicals Limited announced steady financial performance for Q2 FY26, with consolidated revenues reaching INR 209 crore, an 8% increase year-on-year. This growth reflects operational continuity despite the temporary unavailability of its Dahej plant due to a March 2025 fire. Consolidated EBITDA stood at INR 30 crore, with PAT at INR 3 crore, impacted by increased operating costs, interest expenses, and awaiting insurance payouts. The company highlights strong demand across its base business and organolithium portfolio.

Strategically, Neogen Chemicals is focused on high-growth battery materials, with Electrolyte commercial production anticipated in H1 FY27 and Lithium Electrolyte Salt in H2 FY27. Key developments include approvals from Indian and international customers for Electrolyte and Lithium Electrolyte Salts. The company successfully raised INR 200 crore through NCDs to support growth projects and expedite the Dahej plant rebuild, ensuring financial flexibility.

In corporate governance, Neogen Chemicals separated the roles of chairman and managing director, appointing Anurag Surana as non-executive chairman. Furthermore, the company reported an earnings per share (EPS) of INR 1.28 for Q2 FY26 (consolidated). The Dahej plant rebuild is on track for completion next year, aiming to significantly boost base business growth.