EBITDA improved by 22% YoY to Rs 32.6 crore in the fourth quarter.

Profit before tax in Q4 FY23 stood at Rs 20.7 crore, up by 11% as compared with Q4 FY22.

The company said that in FY23, revenues were at Rs. 686.2 crore, with a growth of 41% YoY. The increase was on account of incremental contribution from the expanded capacities, positive demand trajectory and a favorable product mix, thus resulting in highest-ever revenues for the year. Also, as expected, the company meaningfully increased its share of value-added products.

EBITDA at Rs 111.6 crore in FY23 was higher by 29% on account of positive mix change in the business. This came inspite of several headwinds and pressures around input prices, utility costs as well as adverse forex movements.

Profit after tax (PAT) stood at Rs 50 crore during FY23, higher by 12% compared to Rs. 44.6 crore in FY22.

Besides the high depreciation resulting from the addition of incremental reactors during the year – not yet reached full utilization, the numbers also take into account the impact of increased finance costs due to ongoing expansion initiatives and higher interest rates compared to the base year, the company added.

The board of Neogen has recommended a final dividend of Rs 3 per equity share for FY23 as compared with Rs 2.75 per equity share in FY22.

Neogen Chemicals is India's one of the leading manufacturers of bromine-based and Lithium-based specialty chemicals. Its products are used in pharmaceutical and agrochemical intermediates, engineering fluids, electronic chemicals, polymer additives, water treatment, construction chemicals, and aroma chemicals, flavours and fragrances, specialty polymers, chemicals and vapour absorption chillers – original-equipment manufacturers and with new upcoming usage in lithium-ion battery materials for energy storage and electric vehicles (EV) application.