Neogen executing greenfield and brownfield expansion

The company has already commenced commercial production of inorganic chemicals at new commissioned greenfield capacity at Dahej

Neogen Chemicals, a leading manufacturer of Bromine and Lithium-based specialty chemicals is executing greenfield and brownfield expansions. 

The company has already commenced commercial production of inorganic chemicals at new commissioned greenfield capacity at Dahej. 

Commenting on the Q3 FY20 performance, Haridas Kanani, Chairman & Managing Director, Neogen Chemicals said, “I am glad to state that we have sustained our growth momentum during the quarter under review, on the back of expected gains in both organic as well as inorganic chemicals segment. Overall, we recorded 30% revenue growth and 91% expansion in Profit After Tax, driven by better demand scenario as well as higher production at our facilities. Further, I am happy to underline that we have commenced commercial production of inorganic chemicals at our new commissioned Greenfield facility at Dahej SEZ."

"We remain on track to deliver accelerated performance in the years to come backed by revenues from the newly constructed Inorganic facility at Dahej SEZ as well as de-bottlenecking initiatives at the existing plants. The performance will be further bolstered by upcoming Organic expansion which will come in towards the end of next financial year. All-in-all, we are excited with the business momentum and remain confident of executing the growth opportunities in the space,” added Kanani. 

In Q3 FY20, the company registered revenues of Rs. 82.3 crores up by 30.2% and PAT was Rs. 8.22 crores, up by 90.7%. Exports revenue contributed 36% and domestic revenues was 64%. Organic contributed Rs. 70 crores and inorganic contributed Rs. 12 crores.  

The company operates out of its two manufacturing facilities located in Mahape, Navi Mumbai in Maharashtra and Karakhadi, Vadodara in Gujarat.