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Neogen Chemicals Limited Earnings Release 2022
60363_rns_2021-08-08_e0e7090f-adc2-44a5-96e0-64d15535e398.pdf
Earnings Release
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August 8, 2021
| BSE Limited | National Stock Exchange of India Limited |
|---|---|
| Department of Corporate Services | Listing Department, |
| Floor 25, Phiroze Jeejeebhoy Towers, | Exchange Plaza, |
| Dalal Street, Kala Ghoda, Fort | Bandra Kurla Complex, Bandra (East), |
| Mumbai 400 001 | Mumbai – 400 051 |
| Scrip Code No: 542665 | Company Symbol: NEOGEN |
Sub.: Press Release on the Unaudited Financial Results of the Company under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Dear Sir/ Madam,
With reference to the captioned subject, please find enclosed herewith the Press Release on the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended June 30, 2021.
The Unaudited Financial Results for the quarter ended June 30, 2021 and the Press Release are also being uploaded on the Company's website at www.neogenchem.com .
Kindly take the same on your record.
Thanking you Yours faithfully For Neogen Chemicals Limited
UNNATI RAJESH KANANI Digitally signed by UNNATI RAJESH KANANI Date: 2021.08.08 01:24:19 +05'30'
Unnati Kanani Company Secretary and Compliance Officer Membership No. A35131
Encl: As above
Aug 08, 2021
Neogen Chemicals reports resilient performance in Q1 FY22
Neogen Chemicals Limited (Neogen) delivered strong financial performance during the first quarter ending 30th June, 2021. The Company recorded steady revenue from operations amounting to Rs. 84.6 crore in Q1 FY22 as compared to Rs. 76.6 crore in the corresponding quarter last year, higher by 11%. The Company also recorded healthy EBITDA performance driven by higher utilisation levels across all plants and operating leverage benefit.
This performance came in despite challenges on-ground with respect to the second wave of COVID-19 pandemic and related disruptions in logistics and supply chain. Positive demand environment continued to support the momentum.
Profit after tax (PAT) stood at Rs. 7.4 crore during the quarter compared to Rs. 6.1 crore in Q1 FY21. PAT momentum was facilitated by better operating efficiency and higher revenue growth across business verticals. Earnings pershare forthe quarterstood at Rs. 3.15 pershare (Rs. 2.62 per share in Q1 FY21).
| Q1FY22 | ||||
|---|---|---|---|---|
| Revenues | Rs.84.6crore | 11% | ||
| EBITDA | Rs.15.6crore | 15% | ||
| ProfitBeforeTax | Rs.10.2crore | 17% | ||
| ProfitAfterTax | Rs.7.4crore | 20% |
Performance at a Glance
Notes:
-
- Growth for Q1 FY22 is compared with Q1 FY21
-
- All figures are consolidated
Commenting on the Q1 FY22 performance, Mr. Haridas Kanani, Chairman & Managing Director, Neogen Chemicals said:
"We are glad to have commenced the year on an encouraging note, with 11% growth in revenues and 20% gains in PAT. This came in despite several challenges faced during the quarter, in terms of severe second wave of Covid-19 resulting in logistical issues as well as
supply chain disruptions. We traversed through all these short-term setbacks to demonstrate a sustainable performance driven by robust execution and elevated utilisation levels at all our plants. With significant reduction in Covid caseloads across the country as well as sharp recovery in the economic activity, the performance is expected to further amplify in the ensuing quarters.
Production of Organic Chemicals at the newly constructed facility in Dahej has commenced with trial commercial batches. Customer validation, product quality assurance and final statutory permissions are underway. Once commissioned, this state-of-the-art facility will significantly bolster the performance momentum of Neogen, as this site will allow us to undertake assignments of complex chemistries which require multiple steps. We are confident of fully commissioning this plant in Q2 of the current year and all efforts are in this direction. Our revenue guidance of Rs. 450 crore in FY22 remains unchanged.
Roadmap for ensuing years appears promising. Our focus will be to leverage our knowledge and expertise in key chemistries to deliver profitable performance in the long run. Our future expansion will be more modular in nature and we will continue to evaluate newer opportunities to cement our leadership position in niche chemistries."
| Updateonbrownfield | All reactors installed and commenced start up of initial commercial batches |
|---|---|
| expansionatDahejsite | Product quality assurance and customer validation procedures are currently inprocess |
| New world class infrastructure expected to be a game-changer – allowingmanufacturing of higher-margin, value-added products – as capability todeliver multi-stage processes and complex chemistries scales up | |
| State-of-the-artfacility–drivingdeeperengagementsbyleveragingmanufacturing excellence and adhering with internationally followed safety &engineering protocols | |
| Will start contributing to revenues from Q2 of FY22; Rs. 450 crore revenueguidance for FY22 remains unchanged | |
| -ENDS |
About Neogen Chemicals Limited
Incorporated in 1989, Neogen Chemicals Ltd. (NSE Code: NEOGEN; BSE Code: 542665) is India's one of the leading manufacturers of Bromine-based and Lithium-based specialty chemicals. Its specialty chemicals product offerings comprise Organic as well as Inorganic chemicals. Its products are used in pharmaceutical and agrochemical intermediates, engineering fluids, electronic chemicals, polymer additives, water treatment, construction and aroma chemicals, flavours and fragrances, specialty polymers, Chemicals and Vapor Absorption Chillers – original-equipment manufacturers. Over the years, Neogen has expanded its range of products and at present, manufactures an extensive range of specialty chemicals which find application across various industries in India and globally. It has a product portfolio of over 226 products.
In addition to manufacturing speciality chemicals, Neogen also undertakes custom synthesis and contract manufacturing where the product is developed and customized primarily for a specific customer, but process know-how and technical specifications are developed inhouse.
The Company operates out of its three manufacturing facilities located in Mahape, Navi Mumbai in Maharashtra, Dahej SEZ, Bharuch and Karakhadi, Vadodara in Gujarat.
| Formoreinformation,pleasevisitwww.neogenchem.comORcontact: | |||
|---|---|---|---|
| UnnatiKanani | |||
| NeogenChemicalsLimited | |||
| Tel:+912225497300(Ext:364) | |||
| Email:[email protected] |
Disclaimer: Certain statements in this press release may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Neogen Chemicals Limited will not be in any way responsible for any action taken based on such statements and discussions and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.