BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Neogen Chemicals Ltd.'s Q1 FY22 numbers were below estimates on account of spillover sales to the next quarter.
Reported revenue growth of 11% YoY to Rs 84.6 crore, led by higher growth from inorganic chemical segment (up 55% YoY).
Gross margins rose 690 basis points YoY to ~45% while Ebitda margin improved 80 bps YoY to 18.5%, due to higher other operating cost (up 50% YoY) and employee expenses (up 30% YoY).
Neogen Chemicals' Ebitda was up 15% YoY to Rs 15.6 crore.
Profit after tax increased 20% YoY to Rs 7.4 crore owing to lower taxes (28.1% versus 30% in Q1 FY21).
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