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ICICI Direct Report
Neogen Chemicals Ltd.'s numbers were marginally in line with our estimates on the revenue front while Ebitda came in below estimates due to lower gross profit margin.
Reported revenue growth of 40% YoY to Rs 186.3 crore, led by higher growth from both organic chemicals Rs 136 crore (up 29% YoY) and inorganic chemicals Rs 50.3 crore (up 86% YoY).
Neogen Chemicals' gross margins fell 91 basis points YoY to 43.2% while Ebitda margin declined 177 bps YoY to 16.2%. Absolute Ebitda was up 27% YoY to Rs 30.1 crore
Profit after tax increased 41% YoY to Rs 14.8 crore.
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Also Read: Sudarshan Chemical Q3 Results Review - Headwinds Persist, Demand Recovery To Be Slow: ICICI Direct
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