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Anand Rathi Report
Supported by strong user-industry demand and better utilisation, Neogen Chemicals Ltd.’s Q2 revenue and Ebitda grew respectively 6% and 5% YoY.
We are positive on the long-term outlook for the company and expect revenue/Ebitda/ profit after tax to clock 32%/34%/49% compound annual growth rates over FY21-23, driven by coming expansions, rising demand for pharma and agro intermediates and focus on -added products.
Further, the company entered into long-term contracts, providing future revenue assurance.
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