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Neogen Q4 Review: A Compelling Medium Term Structural Growth Story, Says IDBI Capital; Sees 87% Upside
IDBI Capital is sanguine on Neogen Chemicals' progress on the battery chemical front with strong capex plans coupled with a top notch technology partner in the form of MUIS.
20 May 2025, 10:54 AM IST 
Neogen Chemicas' revenue for organic chemicals segment grew by 7% YoY while the revenue for the inorganic chemicals segment declined by 30% YoY taking into account the lower prices of bromine and lithium in the quarter.
(Source: Freepik)
Once Neogen starts receiving committed volumes for battery chemicals from domestic battery manufacturers such as Ola Electric, Rajesh Exports, Exide, Amara Raja and others we expect the stock price to appreciate further. The company is in advanced stages of discussion with Morita Chemicals of Japan to form a JV for electrolyte salts which will further boost growth prospects.
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