Neogen Chemicals Limited has recorded revenue of Rs. 93 crore during Q4 FY21, a growth of 13% and Rs. 336 crore in FY21, representing a growth of 10% over the corresponding period of last year. 

Profit after tax (PAT) came in at Rs. 9 crore during the quarter under review as compared to Rs. 7 crore in Q4 FY20. For FY21, profit after tax stood at Rs. 31 crore, up by 9% than Rs. 29 crore in the same period of last year. PAT momentum was facilitated by better operating efficiency and higher revenue growth. Higher depreciation and finance costs linked to CAPEX incurred and increase in employee costs slowed down the trajectory. Earnings per share in Q4 FY21 increased to Rs. 4 per share (Rs. 3.15 per share in Q4 FY20). 

Robust demand for key products resulted in a better topline performance despite nationwide shutdown impact for the first two months of the year and localized restrictions imposed due to the second wave of COVID-19. 

The company has delivered strong EBITDA performance which was driven by better realisation gains as well as higher operating leverage, as all the plants were running at optimal utilisation levels. Positive performance was delivered even though additional costs were incurred this year on account of COVID-19 related safety protocols. 

Speaking on Phase I brownfield expansion, Haridas Kanani, Chairman & Managing Director, Neogen Chemicals said, "All reactors installed and commenced startup of initial commercial batches. Product quality assurance and customer validation procedures are currently in process and sales will begin shortly." 

"New world class infrastructure is expected to be a gamechanger for allowing manufacturing of higher-margin, value-added products as capability to deliver multi-stage processes and complex chemistries scales up," commented Kanani. 

The company will start contributing to revenues from Q2 of FY22 and Rs. 450 crore revenue guidance for FY22 remains unchanged, added Kanani.