Neogen Chemicals Ltd
NEOGENNeogen Chemicals Ltd's price has outrun its earnings. +51.6% in a year against EPS −17.4% — the market is paying now for delivery later.
The sharpest disagreement: profits are rising, but only −64% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.
The price is in a confirmed uptrend (19 weeks in) while the P/E sits at the 99th percentile of its own 7-year range. Underneath, the last four quarters read improving — profit +70.0% year on year, and −64% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Neogen Chemicals Ltd trades at ₹2,373, in a confirmed uptrend and 19 weeks into that stage. That is +32.4% against its own 200-day average. It sits at 100% of a 52-week range of ₹1,055 to ₹2,373. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 5 straight weeks.
Today the stock is in a confirmed uptrend — week 19 of stage 2, confirmed. At ₹2,373 it trades +32.4% versus its 200-day average and sits at 100% of its 52-week range (₹1,055–₹2,373).
Against the market, two honest reads. Cumulative: over the last 7.3 years the stock moved +806% while the NIFTY 500 moved +150% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 5 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Neogen Chemicals Ltd trades at 183.0× P/E, about the priciest it has ever traded. Its long-run median P/E is 80.4×, measured across 7.3 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 183.0× is about the priciest it has ever traded, against a long-run median of 80.4× measured over 7.3 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
🚨 Why the multiple sits where it does: over the past year annual EPS moved −17.4% against a +51.6% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 5y, of the +15.4%/yr price move, ~−1.1%/yr came from earnings growth and ~+16.5 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
Stage: Turning around Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Neogen Chemicals Ltd reads as turning around on its fundamental arc. Turning around — profit growth swung from −37.5% at the trough to +6.1%, a 2-quarter improving streak, ROCE holding at 8.5%. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: growth inflections are where re-ratings start — the curves say a turn is forming, so the question becomes whether the next quarters confirm it.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +10.8% | +7.9% | +20.7% | +24.0% |
| Profit | −17.1% | −16.6% | −1.3% | +19.2% |
| EPS | −17.4% | −18.4% | −4.1% | +15.5% |
| Share price | +51.6% | +10.4% | +15.4% | — |
4-Factor Sector Score
40.5/100 — rank 23 of 28 in Speciality Chemicals · 90% evidence confidence
Neogen Chemicals Ltd scores 40.5 out of 100 against the 28 companies it is compared with in Speciality Chemicals, ranking 23. Price leads the evidence: RS versus the benchmark is 52%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
The four contributions add to the total exactly: 14.7 + 6.7 + 5.2 + 13.9 = 40.5. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Neogen Chemicals Ltd reported ₹250 Cr of revenue in the Jun 26 quarter, +33.7% year on year. That is the 9th straight quarter of year-on-year growth. Over 10 years it has compounded at 24.0% a year. The last full year, FY26, came in at ₹862 Cr. The last four reported quarters add to ₹926 Cr.
FY26 revenue came in at ₹862 Cr (+10.8% on the year), capping 10 years at 24.0% compound. The latest quarter (Jun 26) printed ₹250 Cr, +33.7% year on year — the 9th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +18.3% growth against the decade's 24.0% — the current year is running slower than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +18.1% over the last 4 quarters against +14.5%/yr over the last 8 — accelerating; TTM profit +6.1% vs −2.7%/yr — accelerating.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Neogen Chemicals Ltd's operating margin is 19.0% in the Jun 26 quarter, +2.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 14.0% to 19.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 19.0%, +2.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 14.0%–19.0%.
Why the margin moved: operating margin went +2.4 pp year on year while gross margin went +1.0 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Neogen Chemicals Ltd earned ₹17.0 Cr of net profit in the Jun 26 quarter, +70.0% year on year. It is the 2nd consecutive quarter of growth. Full-year FY26 profit was ₹29.0 Cr. The 10-year compound rate is 19.2%. That is 6.8% of the quarter's revenue. The same quarter a year earlier earned ₹10.0 Cr.
Jun 26 profit was ₹17.0 Cr, +70.0% year on year — the 2nd consecutive quarter of growth. On the full year, FY26 printed ₹29.0 Cr (−17.1%), and the 10-year compound rate is 19.2%.
Why profit moved: revenue contributed +33.7% and the margin +2.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +96.8% vs revenue +18.3%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years −64% of Neogen Chemicals Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−231 Cr of operating cash against ₹29.0 Cr of profit. After ₹800 Cr of capital spending, ₹−1,031 Cr was left as free cash.
FY26: operating cash of ₹−231 Cr against reported profit of ₹29.0 Cr, leaving free cash of ₹−1,031 Cr after ₹800 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −64% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at −64%: the cash cycle stretched 86 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: conversion is below par and the cash cycle has stretched 86 days — the next section's job is to find where the cash is stuck.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Neogen Chemicals Ltd's cash conversion cycle runs 260 days in FY26, up from 174 days in FY21. Capital spending ran ₹1,028 Cr over the last 3 years. At FY26 sales of ₹862 Cr each day of that cycle holds about ₹2.4 Cr, so roughly ₹614 Cr sits inside the business at any moment.
FY26: debtors at 161 days, inventory at 445 days — roughly 14.6 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 260 days, looser than FY21's 174.
The full loop: cash goes out to suppliers and production on day 0; stock waits 445 days to sell; customers pay about 161 days after that; and suppliers themselves are paid at 346 days — netting out to the 260-day cycle.
In money terms: at FY26 sales of ₹862 Cr, each day of the cycle holds about ₹2.4 Cr — so the 260-day loop keeps roughly ₹614 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹1,028 Cr over the last 3 fiscal years against ₹79.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹857 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Neogen Chemicals Ltd earns a ROCE of 6% in FY26. Return on invested capital clears the cost of that capital by −8.0 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 3.4% net margin on 0.30× asset turns.
FY26 ROCE is 6%.
🚨 Why the return is what it is — the wiring (FY26): 3.4% net margin × 0.30× asset turns × 3.56× balance-sheet leverage ≈ 3.6% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 4.0% − 12.0% = a −8.0 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Neogen Chemicals Ltd carries total debt of ₹1,395 Cr against shareholder equity of ₹816 Cr as of Mar 26, a debt-to-equity of 1.71. On the annual view that ratio went from 0.52 in FY22 to 1.71 in FY26. Read the returns elsewhere on this page with that leverage in mind.
Mar 26: total debt of ₹1,395 Cr against shareholder equity of ₹816 Cr — a debt-to-equity of 1.71. On the annual view, debt-to-equity went from 0.52 (FY22) to 1.71 (FY26). Read the returns on this page with that leverage in mind.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Foreign institutions cut 4.1 points of Neogen Chemicals Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 4.1% of the company. Domestic institutions moved −2.9 points over the same window, to 19.6%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Foreign institutions: −4.1 points over 8 quarters to 4.1%; Domestic institutions: −2.9 points over 8 quarters to 19.6%; Promoters: +1.8 points over 8 quarters to 53.0%.
🚨 Why the register moved: foreign institutions drove it (−4.1 points), alongside domestic institutions (−2.9 points) — distribution into the market’s bid.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Neogen Chemicals Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Panama Petrochem LtdPANAMAPET | 74.9/100Favorable setup100% evidence | LEADER | 28.1/35 Revenue 45.9% · PAT 100% · OPM change 14 pp 100% evidence | 14.9/25 ROCE 19.2% · OPM 22% 100% evidence | 15.4/20 P/E 6.1× · PEG 0.55 100% evidence | 16.5/20 RS sector 18.7% · RS bench 46.9% · 1Y 64.6%12 of 12 weeks ahead 100% evidence |
| Exact sum: 28.1 + 14.9 + 15.4 + 16.5 = 74.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 2Sunshield Chemicals Ltd530845 | 69.8/100Favorable setup76% evidence | FADING | 28.0/35 Revenue 12.9% · PAT 100% · OPM change 5 pp 95% evidence | 16.6/25 ROCE 19.9% · OPM 16% 76% evidence | 11.3/20 P/E 29.1× · PEG — 50% evidence | 13.9/20 RS sector 2.3% · RS bench 24.5% · 1Y 16.2%10 of 11 weeks ahead 70% evidence |
| Exact sum: 28 + 16.6 + 11.3 + 13.9 = 69.8 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 3Vikram Thermo (India) Ltd530477 | 65.5/100Favorable setup67% evidence | BREAKING OUT | 25.5/35 Revenue 16.9% · PAT 41.9% · OPM change 8 pp 95% evidence | 19.8/25 ROCE 36.2% · OPM 48% 76% evidence | 7.9/20 P/E 24.3× · PEG — 50% evidence | 12.3/20 RS sector — · RS bench 83.6% · 1Y —10 of 10 weeks ahead 25% evidence |
| Exact sum: 25.5 + 19.8 + 7.9 + 12.3 = 65.5 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 4Black Rose Industries LtdBLACKROSE | 64.2/100Mixed-positive evidence72% evidence | BREAKING OUT | 22.0/35 Revenue 8.6% · PAT 28.6% · OPM change 6 pp 95% evidence | 17.1/25 ROCE 18.7% · OPM 16% 95% evidence | 14.5/20 P/E 19.2× · PEG — 50% evidence | 10.6/20 RS sector — · RS bench 11.6% · 1Y —4 of 6 weeks ahead 25% evidence |
| Exact sum: 22 + 17.1 + 14.5 + 10.6 = 64.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5Yasho Industries LtdYASHO | 62.9/100Mixed-positive evidence87% evidence | BREAKING OUT | 29.3/35 Revenue 34.1% · PAT 100% · OPM change 7 pp 100% evidence | 8.6/25 ROCE 8.9% · OPM 24% 100% evidence | 12.0/20 P/E 87.6× · PEG 1.15 65% evidence | 13.0/20 RS sector -2.4% · RS bench 102% · 1Y 131.1%11 of 11 weeks ahead 70% evidence |
| Exact sum: 29.3 + 8.6 + 12 + 13 = 62.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 6Privi Speciality Chemicals LtdPRIVISCL | 59.9/100Mixed-positive evidence75% evidence | FADING | 25.0/35 Revenue 21.6% · PAT 62.1% · OPM change -1 pp 95% evidence | 17.9/25 ROCE 22.3% · OPM 23% 76% evidence | 9.5/20 P/E 39.7× · PEG — 15% evidence | 7.5/20 RS sector -8.1% · RS bench 15.3% · 1Y 55.8%7 of 12 weeks ahead 100% evidence |
| Exact sum: 25 + 17.9 + 9.5 + 7.5 = 59.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7Aether Industries LtdAETHER | 58.4/100Mixed-positive evidence100% evidence | BREAKING OUT | 24.4/35 Revenue 34.4% · PAT 34.3% · OPM change -1 pp 100% evidence | 10.7/25 ROCE 11.9% · OPM 31% 100% evidence | 4.2/20 P/E 92.6× · PEG 8.9 100% evidence | 19.1/20 RS sector 23.6% · RS bench 53.6% · 1Y 125.8%11 of 12 weeks ahead 100% evidence |
| Exact sum: 24.4 + 10.7 + 4.2 + 19.1 = 58.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8DMCC Speciality Chemicals LtdDMCC | 56.8/100Mixed-positive evidence80% evidence | TURNING | 24.4/35 Revenue 49.7% · PAT 42.9% · OPM change 0 pp 95% evidence | 11.0/25 ROCE 14.8% · OPM 13% 95% evidence | 11.4/20 P/E 17.9× · PEG — 15% evidence | 10.0/20 RS sector -12.3% · RS bench 10% · 1Y -6.5%6 of 12 weeks ahead 100% evidence |
| Exact sum: 24.4 + 11 + 11.4 + 10 = 56.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9Pidilite Industries LtdPIDILITIND | 56.7/100Mixed-positive evidence100% evidence | FADING | 22.6/35 Revenue 14.1% · PAT 21.5% · OPM change 1 pp 100% evidence | 20.6/25 ROCE 31% · OPM 26% 100% evidence | 7.9/20 P/E 60.2× · PEG 3.8 100% evidence | 5.6/20 RS sector -15.4% · RS bench 6.4% · 1Y 1.3%11 of 12 weeks ahead 100% evidence |
| Exact sum: 22.6 + 20.6 + 7.9 + 5.6 = 56.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 10Tatva Chintan Pharma Chem LtdTATVA | 56.0/100Mixed-positive evidence93% evidence | BREAKING OUT | 30.4/35 Revenue 41.1% · PAT 100% · OPM change 4 pp 100% evidence | 6.5/25 ROCE 7.2% · OPM 19% 100% evidence | 4.7/20 P/E 71.8× · PEG 5.63 65% evidence | 14.4/20 RS sector -1.5% · RS bench 23.3% · 1Y 61.3%11 of 12 weeks ahead 100% evidence |
| Exact sum: 30.4 + 6.5 + 4.7 + 14.4 = 56 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 11Fineotex Chemical LtdFCL | 54.0/100Mixed-positive evidence100% evidence | LEADER | 18.4/35 Revenue 91.5% · PAT 41% · OPM change -2 pp 100% evidence | 12.7/25 ROCE 18.3% · OPM 16% 100% evidence | 3.0/20 P/E 54.9× · PEG 4.19 100% evidence | 19.9/20 RS sector 58% · RS bench 94.1% · 1Y 143.6%12 of 12 weeks ahead 100% evidence |
| Exact sum: 18.4 + 12.7 + 3 + 19.9 = 54 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12Aarti Industries LtdAARTIIND | 53.5/100Mixed-positive evidence100% evidence | BREAKING OUT | 27.7/35 Revenue 27% · PAT 100% · OPM change 3 pp 100% evidence | 8.3/25 ROCE 6.9% · OPM 16% 100% evidence | 9.0/20 P/E 34.2× · PEG 2.05 100% evidence | 8.5/20 RS sector -8.2% · RS bench 15.1% · 1Y 30.8%8 of 12 weeks ahead 100% evidence |
| Exact sum: 27.7 + 8.3 + 9 + 8.5 = 53.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13Kronox Lab Sciences LtdKRONOX | 53.3/100Mixed-positive evidence65% evidence | BREAKING OUT | 9.4/35 Revenue 6.1% · PAT 11.6% · OPM change -1.1 pp 95% evidence | 21.6/25 ROCE 36% · OPM 31.7% 95% evidence | 10.8/20 P/E 22.8× · PEG — 15% evidence | 11.5/20 RS sector — · RS bench 24.8% · 1Y —5 of 5 weeks ahead 25% evidence |
| Exact sum: 9.4 + 21.6 + 10.8 + 11.5 = 53.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 14Chemcon Speciality Chemicals LtdCHEMCON | 51.1/100Mixed-positive evidence81% evidence | TURNING | 21.0/35 Revenue 16.7% · PAT 12% · OPM change 8 pp 95% evidence | 10.7/25 ROCE 6.3% · OPM 23% 95% evidence | 12.1/20 P/E 28.2× · PEG — 50% evidence | 7.3/20 RS sector -21.7% · RS bench 13.7% · 1Y 4.3%6 of 10 weeks ahead 70% evidence |
| Exact sum: 21 + 10.7 + 12.1 + 7.3 = 51.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 15Vishnu Chemicals LtdVISHNU | 47.7/100Mixed-negative evidence100% evidence | BREAKING OUT | 15.5/35 Revenue 16.5% · PAT 17.2% · OPM change -1 pp 100% evidence | 11.3/25 ROCE 16.4% · OPM 15% 100% evidence | 5.6/20 P/E 32.1× · PEG 2.82 100% evidence | 15.3/20 RS sector 4.7% · RS bench 31.2% · 1Y 48.7%7 of 12 weeks ahead 100% evidence |
| Exact sum: 15.5 + 11.3 + 5.6 + 15.3 = 47.7 · Decision use: Price leads the evidence: RS versus the benchmark is 31.2%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 16Galaxy Surfactants LtdGALAXYSURF | 47.3/100Mixed-negative evidence94% evidence | BREAKING OUT | 19.5/35 Revenue 27% · PAT 15.7% · OPM change 4 pp 100% evidence | 9.4/25 ROCE 13.5% · OPM 14% 100% evidence | 9.6/20 P/E 21.3× · PEG 4.39 100% evidence | 8.8/20 RS sector -12.1% · RS bench 11.3% · 1Y -6.7%8 of 10 weeks ahead 70% evidence |
| Exact sum: 19.5 + 9.4 + 9.6 + 8.8 = 47.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 17Alkyl Amines Chemicals LtdALKYLAMINE | 46.8/100Mixed-negative evidence100% evidence | FADING | 18.4/35 Revenue 5.1% · PAT 21% · OPM change 6 pp 100% evidence | 15.6/25 ROCE 16.6% · OPM 25% 100% evidence | 5.6/20 P/E 42.4× · PEG 5.37 100% evidence | 7.2/20 RS sector -10.8% · RS bench 11.6% · 1Y -9.9%11 of 12 weeks ahead 100% evidence |
| Exact sum: 18.4 + 15.6 + 5.6 + 7.2 = 46.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 18Vinati Organics LtdVINATIORGA | 44.4/100Mixed-negative evidence82% evidence | TURNING | 11.2/35 Revenue 5.1% · PAT 5.7% · OPM change -5 pp 95% evidence | 17.5/25 ROCE 19.8% · OPM 24% 76% evidence | 13.4/20 P/E 29.9× · PEG — 50% evidence | 2.3/20 RS sector -28.7% · RS bench -9.8% · 1Y -23.9%0 of 12 weeks ahead 100% evidence |
| Exact sum: 11.2 + 17.5 + 13.4 + 2.3 = 44.4 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 19Amal LtdAMAL | 43.0/100Mixed-negative evidence69% evidence | 8.0/35 Revenue 79% · PAT -23.1% · OPM change -7 pp 95% evidence | 16.4/25 ROCE 26% · OPM 18% 76% evidence | 10.0/20 P/E 30.7× · PEG — 15% evidence | 8.6/20 RS sector -18.2% · RS bench 15.4% · 1Y -20%0 of 12 weeks ahead 70% evidence | |
| Exact sum: 8 + 16.4 + 10 + 8.6 = 43 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 20Platinum Industries LtdPLATIND | 42.5/100Mixed-negative evidence74% evidence | BASING | 12.8/35 Revenue 9.6% · PAT 6.5% · OPM change -1 pp 95% evidence | 12.3/25 ROCE 15.7% · OPM 12% 95% evidence | 10.6/20 P/E 23.9× · PEG — 15% evidence | 6.8/20 RS sector -10.6% · RS bench -6.1% · 1Y -22.8%0 of 10 weeks ahead 70% evidence |
| Exact sum: 12.8 + 12.3 + 10.6 + 6.8 = 42.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 21Grauer & Weil (India) LtdGRAUWEIL | 41.5/100Mixed-negative evidence100% evidence | TURNING | 10.4/35 Revenue 10.1% · PAT 6.6% · OPM change -5 pp 100% evidence | 16.1/25 ROCE 20.6% · OPM 16% 100% evidence | 8.2/20 P/E 21.4× · PEG 4.01 100% evidence | 6.8/20 RS sector -17.8% · RS bench 3.4% · 1Y -18.5%6 of 12 weeks ahead 100% evidence |
| Exact sum: 10.4 + 16.1 + 8.2 + 6.8 = 41.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 22Anupam Rasayan India LtdANURAS | 41.5/100Mixed-negative evidence82% evidence | ASLEEP | 20.0/35 Revenue 51.7% · PAT 14.8% · OPM change -1 pp 95% evidence | 10.5/25 ROCE 7.4% · OPM 25% 76% evidence | 8.3/20 P/E 79.5× · PEG — 50% evidence | 2.7/20 RS sector -21.7% · RS bench -1% · 1Y 9.8%0 of 12 weeks ahead 100% evidence |
| Exact sum: 20 + 10.5 + 8.3 + 2.7 = 41.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 23Neogen Chemicals Ltdthis pageNEOGEN | 40.5/100Mixed-negative evidence90% evidence | LEADER | 14.7/35 Revenue 18.1% · PAT 6.1% · OPM change 2 pp 100% evidence | 6.7/25 ROCE 6.5% · OPM 19% 100% evidence | 5.2/20 P/E 183× · PEG — 50% evidence | 13.9/20 RS sector 22.9% · RS bench 52% · 1Y 59.6%12 of 12 weeks ahead 100% evidence |
| Exact sum: 14.7 + 6.7 + 5.2 + 13.9 = 40.5 · Decision use: Price leads the evidence: RS versus the benchmark is 52%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 24Paushak LtdPAUSHAKLTD | 37.0/100Mixed-negative evidence81% evidence | BREAKING OUT | 11.9/35 Revenue 15.4% · PAT -15.7% · OPM change -1 pp 95% evidence | 10.0/25 ROCE 8.3% · OPM 31% 95% evidence | 7.5/20 P/E 42.4× · PEG — 50% evidence | 7.6/20 RS sector -27.5% · RS bench 28% · 1Y -4.6%11 of 11 weeks ahead 70% evidence |
| Exact sum: 11.9 + 10 + 7.5 + 7.6 = 37 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 25Clean Science & Technology LtdCLEAN | 36.3/100Mixed-negative evidence94% evidence | BREAKING OUT | 4.5/35 Revenue -0.4% · PAT -13.8% · OPM change -5 pp 100% evidence | 18.5/25 ROCE 20.7% · OPM 36% 100% evidence | 7.8/20 P/E 38.4× · PEG 6.24 100% evidence | 5.5/20 RS sector -24.4% · RS bench 1.4% · 1Y -29.2%2 of 10 weeks ahead 70% evidence |
| Exact sum: 4.5 + 18.5 + 7.8 + 5.5 = 36.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 26Amines & Plasticizers LtdAMNPLST | 35.5/100Mixed-negative evidence81% evidence | ASLEEP | 7.8/35 Revenue -12.4% · PAT -3% · OPM change 0.7 pp 95% evidence | 14.0/25 ROCE 16.7% · OPM 9.9% 95% evidence | 8.8/20 P/E 23.6× · PEG — 50% evidence | 4.9/20 RS sector -19.4% · RS bench -9.2% · 1Y -27.6%5 of 10 weeks ahead 70% evidence |
| Exact sum: 7.8 + 14 + 8.8 + 4.9 = 35.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 27Transpek Industry LtdTRANSPEK | 34.5/100Adverse evidence81% evidence | TURNING | 6.4/35 Revenue -5.2% · PAT -29.1% · OPM change -2.3 pp 95% evidence | 9.1/25 ROCE 8.4% · OPM 13.3% 95% evidence | 11.3/20 P/E 19.3× · PEG — 50% evidence | 7.7/20 RS sector -19.7% · RS bench 11.7% · 1Y -4.7%4 of 10 weeks ahead 70% evidence |
| Exact sum: 6.4 + 9.1 + 11.3 + 7.7 = 34.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 28Thirumalai Chemicals LtdTIRUMALCHM | 25.9/100Adverse evidence69% evidence | BASING | 13.1/35 Revenue -5.8% · PAT -36.9% · OPM change 12 pp 71% evidence | 1.1/25 ROCE -3.1% · OPM 6% 95% evidence | 10.0/20 P/E — · PEG — 0% evidence | 1.7/20 RS sector -39.8% · RS bench -23.6% · 1Y -49%0 of 12 weeks ahead 100% evidence |
| Exact sum: 13.1 + 1.1 + 10 + 1.7 = 25.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Neogen Chemicals Ltd's share price today?
Neogen Chemicals Ltd trades at ₹2,373, +51.6% over the past year. The company is valued at ₹6,498 Cr. The stock sits at the very top of its 52-week range (₹1,055–₹2,373), +32.4% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 19 weeks in. — as of 11 September 2026.
What were Neogen Chemicals Ltd's latest quarterly results?
Neogen Chemicals Ltd reported revenue of ₹250 Cr and net profit of ₹17.0 Cr for the Jun 26 quarter. Revenue rose 33.7% and profit rose 70.0% year on year. Earnings per share were ₹6.25. The operating margin was 19.0%, 2.0 pp higher than a year earlier. — as of 11 September 2026.
What is Neogen Chemicals Ltd's revenue?
Neogen Chemicals Ltd reported revenue of ₹250 Cr in the Jun 26 quarter, +33.7% year on year. For the full FY26 fiscal year, revenue was ₹862 Cr (+10.8%). Over the last 10 years revenue compounded at 24.0% a year. — as of 11 September 2026.
What is Neogen Chemicals Ltd's profit?
Neogen Chemicals Ltd earned ₹17.0 Cr of net profit in the Jun 26 quarter, +70.0% year on year — the 2nd straight quarter of growth. Full-year FY26 profit was ₹29.0 Cr. The operating margin ran 19.0% in the latest quarter. — as of 11 September 2026.
What is Neogen Chemicals Ltd's market cap?
Neogen Chemicals Ltd's market capitalisation is ₹6,498 Cr at a share price of ₹2,373. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.
What is Neogen Chemicals Ltd's P/E ratio?
Neogen Chemicals Ltd trades at a P/E of 183.0×, at the 99th percentile of its own 7-year range, against a long-run median of 80.4×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.
Does Neogen Chemicals Ltd pay a dividend?
Yes — Neogen Chemicals Ltd's dividend payout was 18% of profit in FY26, and it recorded a payout in 12 of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.
Is Neogen Chemicals Ltd overvalued?
On its own history, Neogen Chemicals Ltd looks expensive: its P/E of 183.0× sits at the 99th percentile of its 7-year range (long-run median 80.4×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.
Is Neogen Chemicals Ltd growing?
Yes — Neogen Chemicals Ltd is growing: latest-quarter revenue +33.7% year on year, profit +70.0%, and the margin +2.0 pp at 19.0%. The 10-year compound rates are 24.0% (revenue) and 19.2% (profit). The earnings engine currently reads: improving — as of 11 September 2026.
How is Neogen Chemicals Ltd performing?
Neogen Chemicals Ltd is in a confirmed uptrend, 19 weeks in. Its latest quarter's revenue rose 33.7% and profit rose 70.0% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 5 weeks. This describes what the data did, not a rating. — as of 11 September 2026.
What stage is Neogen Chemicals Ltd in?
Turning around — profit growth swung from −37.5% at the trough to +6.1%, a 2-quarter improving streak, ROCE holding at 8.5%. The read comes from the last 12 quarters of growth (revenue growth +18.1% latest, profit growth +6.1% latest, eps growth +4.0% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.
Is Neogen Chemicals Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 19 of stage 2), trading +32.4% versus its 200-day average and at the very top of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 11 September 2026.
Is Neogen Chemicals Ltd beating the market?
On recent form, yes — Neogen Chemicals Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 5 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 7.3 years the stock moved +806% against the NIFTY 500's +150% — ahead of the index over the full window. — as of 11 September 2026.
Will Neogen Chemicals Ltd's share price go up?
This page publishes no price forecast for Neogen Chemicals Ltd. What it measures instead: the share price is ₹2,373, the price is in a confirmed uptrend 19 weeks in. Its P/E of 183.0× sits at the 99th percentile of its own 7-year range. — as of 11 September 2026.
Who owns Neogen Chemicals Ltd?
Promoters hold 53.0% of Neogen Chemicals Ltd, foreign institutions 4.1%, domestic institutions 19.6% and the public 23.3% (latest quarter). The biggest move on the register over the last two years: Foreign institutions cut 4.1 points over 8 quarters. — as of 11 September 2026.
Does Neogen Chemicals Ltd have too much debt?
It carries real leverage — Neogen Chemicals Ltd's debt-to-equity is 1.71, and operating profit covers the interest bill 2×. FY26 borrowings were ₹1,395 Cr against equity of ₹816 Cr. Read the returns on this page with that leverage in mind — as of 11 September 2026.
What is Neogen Chemicals Ltd's capex?
Neogen Chemicals Ltd spent ₹1,028 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹800 Cr, with ₹857 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.
What is Neogen Chemicals Ltd's cash flow?
Neogen Chemicals Ltd consumed ₹231 Cr of operating cash in FY26 — cash flowed out rather than in (free cash flow: ₹−1,031 Cr). Operating cash was negative while the company reported a profit of ₹29.0 Cr. Cash-flow resolution for India is annual. — as of 11 September 2026.
Is Neogen Chemicals Ltd's profit real cash?
No — operating cash was negative over the last 3 fiscal years: Neogen Chemicals Ltd consumed cash while reporting profit. In FY26, operating cash was ₹−231 Cr against reported profit of ₹29.0 Cr. Cash-flow resolution is annual — as of 11 September 2026.
Where is Neogen Chemicals Ltd in its business cycle?
Neogen Chemicals Ltd's FY26 operating margin was 16.0%, against a 13-year band of 14.0%–19.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 19.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.
What could break the Neogen Chemicals Ltd story?
The sharpest disagreement: profits are rising, but only −64% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 11 September 2026.
Is Neogen Chemicals Ltd a stock worth studying right now?
This is not investment advice. The machine read: Neogen Chemicals Ltd's price has outrun its earnings. +51.6% in a year against EPS −17.4% — the market is paying now for delivery later. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.
Not SEBI Registered !! Not Investment advice !!