Neogen Chemicals Ltd

Neogen Chemicals Ltd has received a show cause cum demand notice from the Office of the Commissioner CGST and Central Excise Commissionerate, Belapur, for the financial year 2022-23. The notice levies a consolidated tax demand of Rs. 6,97,08,028/-, including applicable interest and penalty, pursuant to sections of the CGST, MGST, and IGST Acts. The demand arises from alleged discrepancies including GSTR-1 vs. GSTR-3B tax mismatch, excess Input Tax Credit (ITC) on imports, and unsubstantiated SEZ/Import claims. The company has paid a principal tax amount of Rs. 1,38,95,418/- via DRC-03 earlier, which is being appropriated towards the liability. Neogen Chemicals is evaluating the notice and will file a detailed reply within the prescribed timelines, pursuing all available legal remedies. The company states there is no material impact on its financial or operational activities beyond the amount demanded.

Neogen Ionics Limited (NIL), a wholly owned subsidiary of Neogen Chemicals Limited, has approved the execution of a Business Transfer Agreement (BTA) with Neogen Morita New Materials Limited (NML), a step-down wholly owned subsidiary. The agreement involves the sale/transfer of an undertaking/assets by NIL to NML on a going concern basis for a lumpsum consideration of ₹245 Crore. The transaction, which is considered a related party transaction but done at arm's length, is subject to shareholder and regulatory approvals. The undertaking contributed Nil revenue but 19.05% of the consolidated net worth of Neogen Chemicals as of March 31, 2026. Completion is expected by March 31, 2027.

Neogen Chemicals Ltd has disclosed a transaction under SEBI PIT Regulations where Mrs. Heena Hitesh Reshamwala, an immediate relative of Mr. Hitesh Reshamwala, gifted 354 equity shares to Mr. Viren Reshamwala, a relative. The transaction, valued at approximately ₹8,24,000 based on the closing price of ₹2,328.50 on August 18, 2026, was an off-market gift. The disclosure confirms compliance with insider trading regulations, with necessary undertakings and approvals obtained within the prescribed timelines. The shares represent 0.001% of the company's paid-up capital.

Neogen Chemicals Ltd has submitted the consolidated voting results and the Scrutinizer's Report for its 37th Annual General Meeting (AGM), held on August 21, 2026, via Video Conferencing. All resolutions presented in the AGM notice were approved by the shareholders with the requisite majority. The company also confirmed that the Scrutinizer's Report, detailing the outcomes of remote e-voting and e-voting during the AGM, has been uploaded to the company's website. The AGM transacted ordinary business including adoption of financial statements and declaration of dividend, as well as special business like authorization for securities issuance.

SBI Mutual Fund, through its various schemes, has reduced its shareholding in Neogen Chemicals Limited by 2%. The fund sold 2,11,931 shares, representing 0.7740% of the paid-up capital, on August 18, 2026. Following this transaction, SBI Mutual Fund's total holding in Neogen Chemicals stands at 6.0280%, equating to 16,50,555 shares. This disclosure was made by SBI Funds Management Limited on August 19, 2026, in compliance with SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011.

SBI Mutual Fund, through its various schemes, has reduced its shareholding in Neogen Chemicals Ltd by 0.7740%, selling 2,11,931 shares. This transaction brings their total holding down to 6.0280% of the company's paid-up share capital. The sale occurred on August 18, 2026, via market sale, with the total value of the transaction amounting to Rs. 27,38,16,740. This disclosure is made in accordance with SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011.

Neogen Chemicals Ltd has submitted its Integrated Annual Report for the financial year 2025-26. The report includes the Notice of the 37th Annual General Meeting (AGM), scheduled for August 21, 2026, to be held via Video Conferencing (VC) / Other Audio-Visual Means (OAVM). The report is available on the company's website and the RTA's website. Key dates for voting and AGM attendance have been announced, including a record date of August 13, 2026, and remote e-voting from August 18 to August 20, 2026. The report covers corporate overview, financial capital, manufactured capital, intellectual capital, human capital, social & relationship capital, and natural capital, along with statutory reports.

Neogen Chemicals Ltd has made the audio recording of its Analysts/Investors Conference Call, held on Monday, July 27, 2026, at 4:00 p.m., available on its website. This filing complies with Regulation 30 of the Listing Regulations. The recording can be accessed via the provided URL for stakeholders to review the discussions and updates shared during the call.

Neogen Chemicals reported robust unaudited financial results for Q1 FY27, with consolidated revenues reaching INR 250 crore, a 34% year-on-year increase. This growth was achieved despite a temporary Dahej plant shutdown, driven by efficient toll manufacturing and higher volumes in key product lines, particularly Organolithium and Battery Chemicals. Consolidated EBITDA rose by 53% YoY to INR 48 crore, and Profit After Tax (PAT) surged by 67% YoY to INR 17 crore. The company initiated cost pass-throughs to protect margins and is progressing with its battery materials project and the replacement Dahej facility. Cumulative insurance recoveries for the Dahej fire incident stand at INR 164 crore.

Neogen Chemicals Limited has submitted a revised statement of deviation/variation for funds raised through a preferential issue for the quarter ended June 30, 2026. The company confirms there has been no deviation or variation in the utilization of the ₹161 crore raised. The funds were allocated to investment in wholly-owned subsidiaries (₹100 crore), working capital requirements (₹21 crore), and general corporate purposes (₹40 crore). The utilization has been reviewed by the Audit Committee and monitored by CRISIL Ratings Limited, with no adverse comments or deviations noted.