The SBI Mutual Fund bought an additional investment of 2.16 percent stake in this leading bromine and lithium-based specialty chemical manufacturer. The company shares have gained 4.86 percent in the last six months and 13.05 percent in a year.
At 11:40 a.m., Neogen Chemicals Ltd shares were quoting at Rs 1,587.00, down 0.75 percent, on the National Stock Exchange. The company has a market capitalization of Rs 4,186 crores.
According to the exchange data, SBI Mutual Fund purchased 5,70,102 equity shares of Neogen Chemicals which represents 2.16 of the paid-up share capital on November 01, 2023.
In addition to the above stake. Earlier, SBI Mutual Fund held 16,96,881 equity shares of Neogen Chemicals Ltd which is 6.43 percent of the paid-up share capital of the company.
SBI Mutual Fund holds 22,66,983 equity shares, representing an 8.59 percent stake in the company as of November 01, 2023, after buying an additional investment in the company.
The company’s revenue increased by 11.5 percent from Rs. 147 crores in Q1FY23 to Rs 164 crores in Q1FY24. During the same period, Net Profit has fallen by 18 percent from 11 crores to 9 crores.
In the recent financial year, the company reported strong margins with a net profit margin of 7.26 percent and an operating profit margin of 14.55 percent.
Neogen Chemicals Ltd Shares have gained 4.86 percent in the last six months and 13.05 percent in a year.
As per the latest shareholding pattern, The company promoter holds a 60.19 percent stake, while Domestic Institutional Investors hold a 20.25 percent stake and retail investors hold a 15.32 percent stake.
Neogen Chemicals Ltd is engaged in the manufacture of bromine and lithium-based organic and organo-metallic compounds that are used in the pharmaceutical, agricultural chemicals, and engineering industries.
Written by Omkar Chitnis
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