Buy Neogen Chemicals; target of Rs 1870: ICICI Direct
ICICI Direct is bullish on Neogen Chemicals has recommended buy rating on the stock with a target price of Rs 1870 in its research report dated May 17, 2022.17-05-2022
17-05-2022
Earnings Call for Q4FY22 of Neogen Chemicals
Conference Call with Neogen Chemicals Management and Analysts on Q4FY22 Performance and Outlook. Listen to the full earnings transcript.16-05-2022
Neogen Chemicals Ltd - 542665 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
In compliance with Regulation 30 of the Listing Regulations, the audio recording of the Analysts/Investors Conference Call held on Monday May 16, 2022, is hosted on Company''s website at https://neogenchem.com/financial-performance/earnings-call-recording-q4-2021-2022/16-05-2022
Q4FY22 Quarterly Result Announced for Neogen Chemicals Ltd.
Neogen Chemicals declares Q4FY22 result: For FY22, revenues stood at Rs. 487 crore, up by 45% YoY For Q4 FY22, revenues stood at Rs. 157 crore, up by 69% YoY. Board approved final dividend of Rs. 2.75 per share (27.5%) for FY22 Profit after tax (PAT) stood at Rs. 15.6 crore during the quarter as compared to Rs. 9.3 crore in Q4 FY21. For FY22, profit after tax stood at Rs. 44.6 crore, higher by 42% over Rs. 31.3 crore in FY21. PAT performance was in-line with operational performance of the Company, further bolstered by lower Effective Tax Rate due to higher contribution from SEZ facility. Depreciation increased during the quarter commensurate to the newer capacities added. Earnings per share (EPS) for the quarter stood at Rs. 5.50 per share (Rs. 3.99 per share in Q4 FY21). For FY22, EPS came in at Rs. 18.70 per share (Rs. 13.45 per share in FY21). The Company delivered highest-ever quarterly and full-year revenues, at Rs. 156.8 crore in Q4 FY22 and Rs. 487.3 crore in FY22 respectively. This represents a revenue growth of 69% in Q4 FY22 and 45% in FY22. Strong topline performance was driven by capacity expansion initiatives, combined with realization gains for select products. Commenting on the Q4 & FY22 performance, Mr. Haridas Kanani, Chairman & Managing Director, Neogen Chemicals said: “We are glad to have concluded the year on a high note despite unprecedented challenges posed by inflation in raw material prices and utility costs, as well as supply-chain disruptions. We have navigated through all these shocks by staying nimble and sharpening our focus to create a high-quality enterprise with unmatched execution capabilities. During the year, we scaled new heights and achieved our revenue benchmark by growing 45% over FY21. Profitability metrices mirrored the momentum in revenues, further bolstered by manufacturing efficiencies and prudent cost management. In a key development, we have announced an estimated CAPEX of upto Rs. 150 crore, to be deployed in FY23 at Dahej SEZ for multiple growth initiatives across both Organic and Inorganic Chemicals. This expansion is based on recent approvals and strong interest in our regular Lithium products, Electrolyte Salts and additives in International market and expansion of our chemistry capabilities to continue focus on advance intermediate and CSM business. Our newly commissioned organic MPP plants (Phase I & II) are now stabilizing with sustained improvement in utilisation levels thereby giving us the confidence of achieving the revenue potential of Rs. 725-750 crore as targeted in FY24 on stable lithium price basis. As planned, we are executing orders that are more customised in nature and goes through multi-stage processes with complex chemistries involved. On the other hand, we are satisfactorily progressing with our pilot plant initiative of electrolyte manufacturing for lithium-Ion batteries. In the interim, we are closely studying the market for battery materials and evaluating promising opportunities in the sector. Overall, we are very well poised to capture incremental demand and have the fundamental levers in place to boost our business proposition and realise the growth aspirations. Our objective is to profitably maintain our growth trajectory while creating value for all our stakeholders.” Result PDF15-05-2022
Neogen Chemicals Ltd - 542665 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Press Release on the Audited Financial Results (Standalone and Consolidated) of the Company for the quarter and year ended March 31, 2022.15-05-2022
Neogen Chemicals Ltd - 542665 - Announcement under Regulation 30 (LODR)-Investor Presentation
Earnings Presentation on the Audited Standalone and Consolidated Financial Results of the Company for the quarter and year ended March 31, 2022.15-05-2022
Neogen Chemicals Ltd - 542665 - Announcement under Regulation 30 (LODR)-Dividend Updates
Recommended a final dividend of Rs. 2.75 per Equity Share for the Financial Year 2021-22, subject to approval of shareholders at the ensuing General Meeting of the Company.14-05-2022
Neogen Chemicals Ltd - 542665 - Statement Of Deviation/ Variation In Utilization Of Funds ('Statement') As At March 31, 2022
Pursuant to Regulation 32 of Listing Regulations, we enclose herewith Statement of Deviation/ Variation in utilization of funds ('Statement') as at March 31, 2022, which has been duly reviewed by the Audit Committee.14-05-2022
Neogen Chemicals Ltd - 542665 - Audited Financial Results (Standalone And Consolidated) Of The Company Along With The Audit Reports For The Quarter And Financial Year Ended March 31, 2022
Audited Financial Results (Standalone and Consolidated) of the Company along with the Audit Reports for the Quarter and Financial Year ended March 31, 2022. Pursuant to Regulation 33(3) (d) of the Listing Regulations, we would like to declare that the Statutory Auditors of the Company M/s JMT & Associates, Chartered Accountants (FRN: 104167W) have issued the Auditors Report on Audited Financial Results (Standalone and Consolidated) of the Company for the Quarter and Financial Year ended March 31, 2022 with un-modified opinion and a declaration to that effect is enclosed.14-05-2022