Buy Neogen Chemicals, target price Rs 2160: ICICI Direct

ICICI Direct has buy call on Neogen Chemicals with a target price of Rs 2160. The current market price of Neogen Chemicals is Rs 1729.9.

Time period given by analyst is one year when Neogen Chemicals Ltd. price can reach defined target.

Neogen Chemicals Ltd., incorporated in the year 1989, is a Small Cap company (having a market cap of Rs 4031.40 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-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 113.33 Crore, up 33.85 % from last quarter Total Income of Rs 84.67 Crore and up 38.24 % from last year same quarter Total Income of Rs 81.98 Crore. Company reported net profit after tax of Rs 11.10 Crore in latest quarter.

Investment Rationale
The brokerage retains BUY rating on the back of better growth outlook from custom synthesis business


Promoter/FII Holdings
Promoters held 64.33 per cent stake in the company as of 30-Sep-2021, while FIIs owned 4.79 per cent, DIIs 14.56 per cent.