Results Earnings Call for Q1FY23 of Neogen Chemicals
Conference Call with Neogen Chemicals Management and Analysts on Q1FY23 Performance and Outlook. Listen to the full earnings transcript.08-08-2022
08-08-2022
Q1FY23 Quarterly Result Announced for Neogen Chemicals Ltd.
Neogen Chemicals announced Q1FY23 Result : Neogen Chemicals Limited (Neogen) reported robust financial performance during the quarter ended 30th June, 2022. The Company delivered revenues of Rs. 147.9 crore in Q1 FY23, depicting a growth of 75%. The strong topline performance was driven by incremental benefits accruing from the expanded capacity. This was supported by continued positive demand across key products. The Company has been able to leverage its expertise in process chemistriesto focus on high-value products with multi-stage processes. Profit after tax (PAT) stood at Rs. 11.1 crore during the quarter as compared to Rs. 7.4 crore in Q1 FY22. Strong double-digit growth in PAT was aided by good operating performance. In addition, gains from various cost management initiatives aided earnings growth during the quarter under review. Higher depreciation was in-line with new capacities added. Earnings per share (EPS) for the quarter stood at Rs. 4.43 per share (Rs. 3.15 per share in Q1 FY22). During the period under review, the Company witnessed significant increase in the prices of Lithium raw materials which Company was able to pass on to the customers, resultantly protecting the absolute EBITDA. The EBITDA percentage margin decline is optical as it considers higher revenues and higher RM costs with preserved absolute earnings. Commenting on the Q1 FY23 performance, Mr. Haridas Kanani, Chairman & Managing Director, Neogen Chemicalssaid: “I am pleased to share that we began FY23 on a positive note with strong all-round performance. Revenues grew by 75%, while EBITDA and PAT improved by 58% and 51% respectively. This is a testament of our superior execution capabilities where products are being scaled up rapidly based on encouraging demand trends. The performance momentum was steered by strong gains from the expanded capacity, and this came in spite of challenging operating environment marred by high input and utility costs, logistical disruption as well as extreme volatility in exchange rates during thequarter. We are entailing several CAPEX initiatives this year to elevate our performance trajectory in the existing business and to participate in the sunrise sector of lithium-ion battery chemicals. These initiatives are underway as per our earlier timelines. Overall, discussions with both domestic and international players are advancing as expected, and there is continued interest with robust demand. We have also started submitting samples for technical approvals with several customers. Discussions for approval of Neogen, as a vendor are progressing well although slightly delayed from our original timelines. Based on final approvals, we will align our larger CAPEX plans within lithium-ion battery chemicals space in H2 of current financial year which will start contributing materially earliest from FY25. In the CSM/ advanced intermediate business, we have started witnessing traction from other newer sectors which are non-agro and non-pharma and will endeavor to progressively increase the contribution at the Company level. This is in-line with our focus of expanding the portfolio of value added products. The road ahead appears promising, and Neogen will continue to leverage its expertise and sweat its assets to deliver accelerated performance. This will be anchored by incremental gains coming from scheduled commissioning of key projects in this and next financial year. Overall demand trajectory is very favorable, and we foresee immense opportunities unfolding in the chemicals sector that will help Neogen.” Result PDF08-08-2022
Neogen Chemicals Ltd - 542665 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Press Release Q1FY2307-08-2022
Neogen Chemicals Ltd - 542665 - Announcement under Regulation 30 (LODR)-Investor Presentation
Earnings Presentation- Q1FY2307-08-2022
Neogen Chemicals Ltd - 542665 - Intimation Of Book Closure Date And Cut- Off Date
Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, we wish to inform you that the Register of Members and Share Transfer Register will remain closed from Wednesday, September 21, 2022 to Wednesday, September 28, 2022 (both days inclusive) for the purpose of ascertaining the eligible members who shall be entitled to receive the dividend, if approved by the members at the 33rd Annual General Meeting of the Company. The record date/cutoff date for deciding eligibility of members for remote e-voting and final dividend for the financial year ended March 31, 2022 is Tuesday, September 20, 2022.06-08-2022
Neogen Chemicals Ltd - 542665 - Outcome Of Board Meeting Held On Saturday, August 6, 2022.
Approval of Un-audited (Standalone & Consolidated) Financial Results of the Company for the quarter ended June 30, 2022, pursuant to Regulation 33 of the Listing Regulations along with the 'Limited Review Report' thereon as provided by the Statutory Auditors of the Company, which has been duly reviewed and recommended by the Audit Committee and the same is enclosed herewith;06-08-2022
Neogen Chemicals Ltd - 542665 - Intimation Of Book Closure Date And Cut- Off Date
Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, we wish to inform you that the Register of Members and Share Transfer Register will remain closed from Wednesday, September 21, 2022 to Wednesday, September 28, 2022 (both days inclusive) for the purpose of ascertaining the eligible members who shall be entitled to receive the dividend, if approved by the members at the 33rd Annual General Meeting of the Company. The record date/cutoff date for deciding eligibility of members for remote e-voting and final dividend for the financial year ended March 31, 2022 is Tuesday, September 20, 202206-08-2022
Neogen Chemicals Ltd - 542665 - Disclosure Under Regulation 32 Of SEBI (Listing Obligations And Disclosure Requirements) Regulation 2015 ('Listing Regulations')
Pursuant to Regulation 32 of Listing Regulations, we enclose herewith Statement of Deviation / Variation ('Statement') for the quarter ended June 30, 2022, duly reviewed by the Audit Committee at its meeting held on August 6, 2022. We hereby confirm that there has been no deviation or variation in the use of proceeds of funds raised through issue of Equity Shares on preferential basis.This intimation is also being uploaded on the Company's website at www.neogenchem.com .06-08-2022
Neogen Chemicals Ltd - 542665 - Outcome Of Board Meeting Held On Saturday, August 6, 2022.
The Board of Directors of the Company had at its meeting held today i.e. Saturday, August 6, 2022, inter alia considered and approved the following: Record date/Cutoff Date is Tuesday, September 20, 2022 for deciding eligibility of members for remote e-voting and final dividend for the financial year 2021-22; Register of Members and Share Transfer Register will remain closed from Wednesday, September 21, 2022 to Wednesday, September 28, 2022 (both days inclusive) for the purpose of ascertaining the eligible members who shall be entitled to receive the dividend, if approved by the members at the 33rd AGM of the Company.06-08-2022
Neogen Chemicals Ltd - 542665 - Board Meeting Outcome for Outcome Of Board Meeting Held On Saturday, August 6, 2022
the Board of Directors of the Company had at its meeting held today i.e. Saturday, August 6, 2022, inter alia considered and approved the following: Q1FY23 Unaudited Financial Results, Annual Report FY 21-22, AGM Date, Record Date and Book Closure Period.06-08-2022