Neogen Chemicals Raises FY27 Revenue Guidance and Targets ₹1,000 Crore From Battery Chemicals in FY28

Neogen Chemicals raised its standalone revenue guidance for FY27 to ₹1,050-1,150 crore from ₹950-1,050 crore and expects its battery chemicals business to contribute at least ₹1,000 crore in FY28, Managing Director Harin Kanani said. CNBC TV18 reported the revised outlook on November 13, 2026.

Neogen Chemicals' Raised Guidance and Battery Targets

Neogen Chemicals is an India-based speciality chemicals manufacturer working in bromine and lithium chemistry, with an emerging EV battery materials business. The company said it had already achieved nearly ₹550 crore in standalone revenue in the first half, which prompted the upward revision. "We expect ₹1,050 to ₹1,150 crore, almost about ₹100 crore more as compared to our earlier guidance," Kanani said.

For FY27, the company continues to expect ₹250-300 crore in battery chemicals revenue despite some uncertainty around the pace of development of India's electrolyte ecosystem. Kanani said the FY28 outlook rests on confirmed orders and long-term contracts. "It will be at least ₹1,000 crore because we have very strong order pipeline and contracts in place for the rest of the six months as well as for the next year," he said.

Neogen Ionics' 30,000-tonne electrolyte plant, built using Mitsubishi technology, is being commissioned in phases. Around 20% of the capacity is currently operational, and the remaining facilities are expected to be available by the end of the year. Kanani said electrolyte salt capacity could reach 70-80% utilisation next year, helping Neogen Ionics post a profit before tax in FY28. By FY29, the company projects ₹2,500-2,900 crore in battery chemicals revenue and ₹500-600 crore in EBITDA once capacities are fully utilised.

Kanani said demand for organolithium products remains strong and the company has doubled production capacity for them. The business has expanded nearly tenfold since Neogen Chemicals acquired it from a US-based firm three years ago.

Neogen Chemicals' Funding and Expansion Records

According to akta.pro company records, Neogen Chemicals raised approximately Rs 161 crore in March 2026 through a preferential issuance of 1 million equity shares to promoter group entity Cadamba Solutions at Rs 1,610 per share, with Rs 100 crore earmarked for Neogen Ionics. The same records list a September 2026 post-IPO equity round of $62.6 million and a joint venture with Japan's Morita Investment for electrolyte manufacturing, with projected revenue potential of Rs 2,500-2,950 crore by FY29.

Earlier Steps Toward the Battery Business

In September 2026, Neogen Chemicals targeted consolidated revenue of ₹1,250-1,350 crore in FY27, up from ₹850 crore in FY26, with battery materials as the key growth driver, CNBC TV18 reported. In August 2026, subsidiary Neogen Ionics agreed to transfer its LiPF6 business to step-down subsidiary Neogen Morita New Materials for ₹245 crore, a transaction expected to be completed by March 31, 2027, CNBC TV18 reported. On November 7, 2026, the company received a Gujarat Pollution Control Board revocation of direction and provisional consent for its Dahej plant, allowing operations to resume after the March 2025 fire, ScanX reported.

Neogen Chemicals' Next Scheduled Events

Neogen Chemicals will host an investor meet on November 17, 2026, at the Grand Hyatt in Mumbai as part of the Avendus Spark INDX conference, covering its business overview, financial performance and outlook, ScanX reported. Kanani said the company is preparing its electrolyte salt capacity before new US sourcing requirements take effect in January 2027.