Neogen Chemicals’ ₹600 Cr QIP: Debt To Fall, Battery Business Set For Massive Growth | Business News
ET Now · 24 Sept 2026 · 9 min
Management interview of Neogen Chemicals Ltd (NEOGEN), with 13 key numbers discussed.
- Harin Kanani, MD, Neogen Chemicals
Neogen Chemicals aims to bring down standalone debt from Rs 6.5-7.5bn to around Rs 2.5-3bn by year-end using proceeds from its Rs 6bn QIP and expected insurance receipts. The company is completing an Rs 18bn capex in its battery business, which is projected to generate Rs 3bn revenue this year and Rs 25-29bn by FY29. MD Harin Kanani noted that total investment opportunities in the battery sector could reach Rs 100-150bn over the next decade. Trial production has commenced at the modern Dahej plant, with strong performance in the first half positioning the base business to potentially exceed its Rs 10.5bn revenue target.