Press Release2 May 2024, 02:30 pm
Neogen Chemicals Ltd Reports 10% Increase in EBITDA, 18% Growth in PAT for Q4 FY24
AI Summary
Neogen Chemicals Ltd announced its financial results for the quarter and fiscal year ended March 31, 2024. Despite a decrease in raw material prices, the company maintained revenue at Rs. 691 crore and sustained or increased base volumes. Neogen's battery materials arm, Neogen lonics, generated initial revenues in Q4. EBITDA for the year stood at Rs. 110 crore, and the EBITDA margin was 16%. PAT was Rs. 36 crore, but was impacted by higher depreciation and interest expenses. The company deployed funds from preferential allotment to improve working capital and reduce debt.
Key Highlights
- Revenue maintained at Rs. 691 crore
- EBITDA higher by 10% to Rs. 36 crore
- PAT grew by 18% to Rs. 17 crore
- Neogen lonics generated initial revenues
- EBITDA margin of 16% in FY24