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Last Updated: April 2, 2026, 3:24 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 542665 | NSE: NEOGEN

Neogen Chemicals Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹1,319.27Undervalued by 11.52%vs CMP ₹1,183.00

P/E (71.3) × ROE (7.4%) × BV (₹314.00) × DY (0.08%)

₹678.27Overvalued by 42.67%vs CMP ₹1,183.00
MoS: -74.4% (Negative)Confidence: 56/100 (Moderate)Models: 1 Fair, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1,259.3229%Fair (+6.5%)
Graham NumberEarnings₹316.8521%Over (-73.2%)
Net Asset ValueAssets₹314.339%Over (-73.4%)
EV/EBITDAEnterprise₹492.9212%Over (-58.3%)
Earnings YieldEarnings₹142.109%Over (-88%)
ROCE CapitalReturns₹924.5112%Over (-21.9%)
Revenue MultipleRevenue₹440.217%Over (-62.8%)
Consensus (7 models)₹678.27100%Overvalued
Key Drivers: Wide model spread (₹142–₹1,259) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -4.5%

*Investments are subject to market risks

Investment Snapshot

41
Neogen Chemicals Ltd scores 41/100 (Weak)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health51/100 · Moderate
ROCE 10.7% AverageROE 7.4% AverageD/E 1.10 High debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money20/100 · Weak
FII holding down -3.22% (6mo) SellingDII holding down 0.76% MF sellingPromoter holding at 51.2% Stable
Earnings Quality40/100 · Moderate
OPM stable around 18% SteadyWorking capital: 169 days Capital intensive
Quarterly Momentum40/100 · Moderate
Revenue (4Q): 4% YoY FlatProfit (4Q): -40% YoY Declining
Industry Rank40/100 · Moderate
P/E 71.3 vs industry 64.9 In-lineROCE 10.7% vs industry 13.0% AverageROE 7.4% vs industry 25.4% Below peers3Y sales CAGR: 17% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:24 am

Market Cap 3,120 Cr.
Current Price 1,183
Intrinsic Value₹678.27
High / Low 1,797/967
Stock P/E71.3
Book Value 314
Dividend Yield0.08 %
ROCE10.7 %
ROE7.36 %
Face Value 10.0
PEG Ratio-15.69

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Neogen Chemicals Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Neogen Chemicals Ltd 3,120 Cr. 1,183 1,797/96771.3 3140.08 %10.7 %7.36 % 10.0
Grauer & Weil (India) Ltd 2,616 Cr. 57.7 111/49.718.6 22.00.87 %23.3 %17.6 % 1.00
Fineotex Chemical Ltd 2,428 Cr. 20.8 35.8/19.025.0 6.720.38 %23.8 %18.4 % 1.00
Rossari Biotech Ltd 2,239 Cr. 404 768/37316.3 2260.12 %15.8 %12.2 % 2.00
Thirumalai Chemicals Ltd 2,171 Cr. 180 329/158 1270.00 %0.26 %4.13 % 1.00
Industry Average12,530.04 Cr712.4964.87182.870.55%12.98%25.40%6.41

All Competitor Stocks of Neogen Chemicals Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 186.25203.92170.12168.24164.47210.30176.34193.14200.41203.75184.58206.68215.60
Expenses 156.11171.33140.67142.00142.55172.31144.52156.65162.76162.58149.90171.73179.34
Operating Profit 30.1432.5929.4526.2421.9237.9931.8236.4937.6541.1734.6834.9536.26
OPM % 16.18%15.98%17.31%15.60%13.33%18.06%18.04%18.89%18.79%20.21%18.79%16.91%16.82%
Other Income 1.401.771.841.871.502.822.812.242.05-10.913.314.374.26
Interest 6.669.3410.6110.7510.529.649.5112.3013.0716.5014.0320.6022.85
Depreciation 4.144.294.924.935.745.816.396.616.586.014.886.395.87
Profit before tax 20.7420.7315.7612.437.1625.3618.7319.8220.057.7519.0812.3311.80
Tax % 29.07%30.87%27.54%26.47%68.58%24.05%25.57%25.03%28.13%33.03%25.42%24.49%25.68%
Net Profit 14.7114.3311.429.142.2519.2613.9414.8614.415.1914.239.318.77
EPS in Rs 5.905.754.583.660.857.305.285.635.461.975.393.533.32

Last Updated: March 3, 2026, 5:46 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 5:02 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 7484100110161239306336487686701774811
Expenses 62718690132196248272401575585627664
Operating Profit 111314202943586487112116147147
OPM % 16%15%14%18%18%18%19%19%18%16%17%19%18%
Other Income 01001101158-41
Interest 5558101212141929425174
Depreciation 111123571216232623
Profit before tax 68812182941445771596651
Tax % 41%37%39%33%39%28%30%29%22%30%31%27%
Net Profit 4558112129314550414838
EPS in Rs 8.0911.312.593.885.3410.4812.3313.4717.9320.0715.5918.3514.21
Dividend Payout % 25%18%77%26%19%14%16%17%15%15%13%5%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)25.00%0.00%60.00%37.50%90.91%38.10%6.90%45.16%11.11%-18.00%17.07%
Change in YoY Net Profit Growth (%)0.00%-25.00%60.00%-22.50%53.41%-52.81%-31.20%38.26%-34.05%-29.11%35.07%

Neogen Chemicals Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:25%
5 Years:20%
3 Years:17%
TTM:9%
Compounded Profit Growth
10 Years:28%
5 Years:15%
3 Years:9%
TTM:23%
Stock Price CAGR
10 Years:%
5 Years:16%
3 Years:-1%
1 Year:-1%
Return on Equity
10 Years:11%
5 Years:10%
3 Years:8%
Last Year:7%

Last Updated: September 5, 2025, 11:40 am

Balance Sheet

Last Updated: December 4, 2025, 1:43 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 442020202023232525262626
Reserves 15198223150133160414458740782803
Borrowings 2524266982120137222229370409474776
Other Liabilities 1821274148566187131202230338344
Total Liabilities 6369801521812473554928001,0541,4051,6211,949
Fixed Assets 141317566783111127285347361228251
CWIP 00111031151136562854
Investments 0000000081775193400
Other Assets 495562941121632422504235949831,1731,244
Total Assets 6369801521812473554928001,0541,4051,6211,949

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 399012-4-34831-30-134199
Cash from Investing Activity + -1-2-4-33-13-20-29-134-146-94-129-188
Cash from Financing Activity + -2-6-433-0246251188100226-12
Net Cash Flow 0101-10-1-044-25-37-2
Free Cash Flow 274-32-1-24-63-52-65-134-207167
CFO/OP 38%89%83%21%54%4%-37%146%13%-17%-107%144%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-14.00-11.00-12.00-49.00-53.00-77.00-79.00-158.00-142.00-258.00-293.00-327.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 82785810794939085829414794
Inventory Days 173178190228192188257211258275353265
Days Payable 11712013017714111171122131147134220
Cash Conversion Cycle 138136117158145169276174209223366138
Working Capital Days 140140126674963966711180190169
ROCE %26%27%26%23%23%26%22%17%14%13%10%11%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 60.18%60.18%60.18%56.89%56.89%56.89%51.22%51.22%51.22%51.22%51.22%51.22%
FIIs 4.13%4.30%4.25%4.51%4.56%4.65%8.17%7.73%7.79%7.35%5.15%4.57%
DIIs 20.01%19.87%20.25%22.85%22.14%22.54%22.48%22.52%22.75%22.96%25.22%21.99%
Public 15.68%15.63%15.32%15.75%16.42%15.93%18.12%18.51%18.22%18.45%18.40%22.21%
No. of Shareholders 51,68647,58145,30047,01848,35646,69846,47047,65146,10446,32145,71047,884

Shareholding Pattern Chart

No. of Shareholders

Neogen Chemicals Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Contra Fund 1,248,272 0.31 151.85808,1412025-12-07 15:45:1654.46%
Axis Small Cap Fund 1,217,809 0.58 148.151,217,8092025-04-22 17:25:250%
SBI Large & Midcap Fund 935,051 0.3 113.75935,0512025-04-22 15:56:550%
Sundaram Small Cap Fund 317,000 1.17 38.56271,5392026-01-25 00:00:0016.74%
Invesco India Smallcap Fund 222,523 0.3 27.07N/AN/AN/A
Axis Flexi Cap Fund 212,801 0.2 25.89212,8012025-04-22 15:56:550%
WhiteOak Capital Flexi Cap Fund 152,949 0.26 18.61N/AN/AN/A
SBI Comma Fund 152,080 2.06 18.5N/AN/AN/A
Axis Innovation Fund 132,727 1.41 16.15118,8062026-02-23 06:49:4111.72%
Mirae Asset Healthcare Fund 102,961 0.47 12.53N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 13.2013.9620.0318.7013.45
Diluted EPS (Rs.) 13.2013.9620.0318.7013.45
Cash EPS (Rs.) 23.6622.1126.4922.5816.38
Book Value[Excl.RevalReserv]/Share (Rs.) 299.24288.21193.47176.1278.43
Book Value[Incl.RevalReserv]/Share (Rs.) 299.24288.21193.47176.1278.43
Revenue From Operations / Share (Rs.) 294.75261.82275.13195.37144.17
PBDIT / Share (Rs.) 53.2044.5546.5435.2227.81
PBIT / Share (Rs.) 42.6635.8840.0430.5324.85
PBT / Share (Rs.) 18.9419.9328.4422.8818.95
Net Profit / Share (Rs.) 13.1313.4520.0017.8913.43
NP After MI And SOA / Share (Rs.) 13.2013.5120.0417.8913.43
PBDIT Margin (%) 18.0417.0116.9118.0219.28
PBIT Margin (%) 14.4713.7014.5515.6217.23
PBT Margin (%) 6.427.6110.3311.7113.14
Net Profit Margin (%) 4.455.137.269.159.31
NP After MI And SOA Margin (%) 4.475.167.289.159.31
Return on Networth / Equity (%) 4.414.6810.3510.1617.11
Return on Capital Employeed (%) 11.0910.1215.5013.1018.23
Return On Assets (%) 1.992.434.745.586.36
Long Term Debt / Equity (X) 0.210.160.260.270.63
Total Debt / Equity (X) 0.710.510.750.451.10
Asset Turnover Ratio (%) 0.480.540.740.750.79
Current Ratio (X) 1.361.491.602.261.38
Quick Ratio (X) 0.940.760.881.370.72
Inventory Turnover Ratio (X) 2.251.411.992.231.48
Dividend Payout Ratio (NP) (%) 15.1520.9813.7211.7614.89
Dividend Payout Ratio (CP) (%) 8.4312.7810.369.3212.20
Earning Retention Ratio (%) 84.8579.0286.2888.2485.11
Cash Earning Retention Ratio (%) 91.5787.2289.6490.6887.80
Interest Coverage Ratio (X) 2.892.794.014.604.71
Interest Coverage Ratio (Post Tax) (X) 2.001.842.723.343.28
Enterprise Value (Cr.) 4637.053527.653541.314504.162217.48
EV / Net Operating Revenue (X) 5.965.115.169.246.59
EV / EBITDA (X) 33.0430.0230.5151.2834.18
MarketCap / Net Operating Revenue (X) 5.244.564.668.935.99
Retention Ratios (%) 84.8479.0186.2788.2385.10
Price / BV (X) 5.164.146.639.9111.02
Price / Net Operating Revenue (X) 5.244.564.668.936.00
EarningsYield 0.010.010.010.010.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Neogen Chemicals Ltd. is a Public Limited Listed company incorporated on 07/03/1989 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L24200MH1989PLC050919 and registration number is 050919. Currently Company is involved in the business activities of Manufacture of organic and inorganic chemical compounds. Company's Total Operating Revenue is Rs. 773.65 Cr. and Equity Capital is Rs. 26.38 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Chemicals - Speciality - OthersNo. 1002, 10th Floor, Dev Corpora Bldg, Thane Maharashtra 400601Contact not found
Management
NamePosition Held
Mr. Haridas KananiChairman & Managing Director
Dr. Harin KananiManaging Director
Mr. Shyamsunder UpadhyayWhole Time Director
Mr. Anurag SuranaNon Exe.Non Ind.Director
Mr. Rajeshkumar ShahIndependent Director
Mr. Manojkumar PatiIndependent Director
Prof. Ranjan Kumar MalikIndependent Director
Mrs. Avi SabavalaIndependent Director

FAQ

What is the intrinsic value of Neogen Chemicals Ltd and is it undervalued?

As of 14 April 2026, Neogen Chemicals Ltd's intrinsic value is ₹678.27, which is 42.67% lower than the current market price of ₹1,183.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (7.36 %), book value (₹314), dividend yield (0.08 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Neogen Chemicals Ltd?

Neogen Chemicals Ltd is trading at ₹1,183.00 as of 14 April 2026, with a FY2026-2027 high of ₹1,797 and low of ₹967. The stock is currently in the middle of its 52-week range. Market cap stands at ₹3,120 Cr..

How does Neogen Chemicals Ltd's P/E ratio compare to its industry?

Neogen Chemicals Ltd has a P/E ratio of 71.3, which is above the industry average of 64.87. The premium over industry average may reflect growth expectations or speculative interest.

Is Neogen Chemicals Ltd financially healthy?

Key indicators for Neogen Chemicals Ltd: ROCE of 10.7 % is moderate; ROE of 7.36 % is below ideal levels (industry average: 25.40%). Dividend yield is 0.08 %.

Is Neogen Chemicals Ltd profitable and how is the profit trend?

Neogen Chemicals Ltd reported a net profit of ₹48 Cr in Mar 2025 on revenue of ₹774 Cr. Compared to ₹45 Cr in Mar 2022, the net profit shows an improving trend.

Does Neogen Chemicals Ltd pay dividends?

Neogen Chemicals Ltd has a dividend yield of 0.08 % at the current price of ₹1,183.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Neogen Chemicals Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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