Stocks of a recent listing, Neogen Chemicals hits a record high of nearly Rs 337. That is up by almost 10 % on BSE in an overall weak market on 12th June.
The share that was listed on Paris stock exchange on May 8th, rallies nearly 57 % counter to its issue price of somewhat Rs 215/share. Since the past 1 month, the stock moved up by almost 31 %. On the other hand, it rose to nearly 7% of the S&P BSE Sensex.
The company is the leading manufacturer of specialty chemicals including Bromine as well as Lithium-based. For the fiscal year 2018-19, the Neogen Chemicals’ net income was almost doubled up to Rs 21 crore. Owing to the robust operative performance. It has registered its profit of nearly Rs 11 crore in FY18.
The business’s operating revenue over the fiscal rose by almost 46 % on year on year basis. That had been nearly at Rs 239 crore ran by superior utilization of capacity, enhancement in efficiency at Vadodara as well as satisfactory product-mix.
Earnings before interest tax depreciation & amortization (Ebitda) margin enhances by 40 bps (basis points) to almost 18.2 % rising from 17.8 %.
The administration says the road into the future seems promising. Moreover, the organization is dedicated to determining solid performance over the upcoming years. Owing to the expansion of planned capacity as well as enlargement within the product mix along with the effectual groundbreaking process.
“The corporation is certain of the demand for bromine-based as well as lithium-based products. That will rise in India as well as out of the country on account of rising industries. For instance, agrochemicals, pharma, refrigeration, flavor, polymer syntheses, and fragrances, etc.”