Buy Neogen Chemicals, target price Rs 2129: HDFC Securities

HDFC Securities has buy call on Neogen Chemicals with a target price of Rs 2129. The current market price of Neogen Chemicals Ltd. is Rs 1710.

Neogen Chemicals Ltd., incorporated in the year 1989, is a Small Cap company (having a market cap of Rs 4264.62 Crore) operating in Chemicals sector.

Neogen Chemicals Ltd. key Products/Revenue Segments include Organic/Inorganic Heavy Chemicals and Other Operating Revenue for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2023, the company reported a Consolidated Total Income of Rs 166.67 Crore, down -18.95 % from last quarter Total Income of Rs 205.65 Crore and up 12.01 % from last year same quarter Total Income of Rs 148.80 Crore. Company reported net profit after tax of Rs 9.73 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 60.19 per cent stake in the company as of 30-Jun-2023, while FIIs owned 4.3 per cent, DIIs 19.87 per cent.