Neogen Chemicals Q1 Review - Custom Synthesis Offers Strong Visibility Ahead: ICICI Direct
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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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