Analysts/Institutional Investor Meet/Con. Call Updates

August 1, 2026 BSE Limited National Stock Exchange of India Limited Department of Corporate Services Listing Department, Exchange Plaza, Floor 25, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Bandra (East), Dalal Street, Kala Ghoda, Fort, Mumbai 400 001 Mumbai – 400 051 Scrip Code No: 542665 Company Symbol: NEOGEN Debt Segment Code: 977028 Sub.: Q1FY27 - Earnings Conference Call Transcript. Dear Sir/ Madam, With reference to the captioned subject, please find enclosed herewith the Earnings Conference Call Transcript of the Company’s Q1FY27 Earnings Conference Call held on Monday, July 27, 2026, at 4.00 p.m. IST The transcript is also being uploaded on the company’s website at https://neogenchem.com/wp-content/uploads/ect001-q1-26-27.pdf Kindly take the same on your record. Thanking you, Yours faithfully, For Neogen Chemicals Limited Unnati Kanani Company Secretary and Compliance Officer Mem. No. A35131 Encl: As above Registered Office: 1002, Dev Corpora, Cadbury Junction, E: sales@neogenchem.com T: +91 22 2549 7300 Eastern Express Highway, Thane (W) 400 601, India. W: www.neogenchem.com F: +91 22 2549 7399 CIN No. L24200MH1989PLC050919 Neogen Chemicals Limited Q1 FY27 Earnings Conference Call July 27, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Neogen Chemicals Limited’s Q1 FY27 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the call, please signal an operator by pressing star then zero on your touchtone phone. I now hand the conference over to Mr. Nishid Solanki from CDR India. Thank you and over to you, sir. Nishid Solanki: Thank you. Good afternoon everyone and welcome to Neogen Chemicals’ Q1 FY27 earnings conference call. Joining us today from the senior management team are: Mr. Anurag Surana, Non- Executive Chairman, Dr. Harin Kanani, Managing Director, and Mr. Gopikrishnan Sarathy, Chief Financial Officer. We will begin the call with opening remarks from the management team followed by an interactive question and answer session. Before we begin, a standard disclaimer - Certain statements made during today’s call may be forward-looking. Actual results could differ and a detailed disclaimer is available in our Q1 FY27 earnings presentation which has been uploaded on stock exchange websites. With that, I would now like to invite Dr. Harin Kanani to share his opening remarks. Thank you and over to you, sir. Dr. Harin Kanani: Good afternoon everyone and thank you for joining us to discuss our Q1 FY27 financial results and outlook. I hope you had an opportunity to review our investor presentation. I will begin with key performance highlights and strategic developments during the quarter along with progress of our growth initiatives. Following this, our CFO, Mr. Gopikrishnan Sarathy will cover the financial highlights. The global chemical industry continues to navigate a complex operating landscape characterized by persistent geopolitical volatility, uneven end-market demand, and ongoing redrawing of supply chain dynamics. While near-term macro headwinds persist, our core strength lies in how we navigate them with agility, financial discipline, and operational rigor. Anchored by the deep domain expertise and chemical synthesis capabilities we have built over the past three decades, we remain focused on protecting our core margins, supply reliability for our customers, and driving rapid progress across key growth pillars, particularly the battery materials segment. Page 1 of 22 Amidst this ongoing shift, I am pleased to share that Neogen Chemicals has delivered a strong performance in Q1 FY27, marking a solid start to the new financial year. This growth was driven by volume growing across our core business verticals, sustained customer demand, and our highest ever quarterly revenue recorded in both organo-lithium and battery chemicals portfolio. Let me quickly summarize the key financials. In Q1 FY27, on a consolidated basis, we recorded revenue of INR 250 crore, registering a robust growth of 34% year-on-year. EBITDA grew by 53% year-on- year to INR 48 crore with EBITDA margins expanding by 260 basis points to 19.3%. Profit after tax stood at INR 17 crore, surging 67% year-on-year. Our base business demonstrated immense resilience despite ongoing global supply chain volatility, elevated shipping freight costs, and temporary overheads related to interim toll manufacturing arrangements. We have successfully initiated cost pass-through mechanisms with customers across key raw materials and input costs, such as, utilities, freight, and packaging to safeguard our operating margins. I will now provide key operational updates across our core operations and expansion projects. 1. Dahej replacement plant and insurance recovery update Reconstruction of our replacement facility at Dahej is almost complete. Trial runs are actively underway with commercial production set to commence within the current Q2 FY27 quarter. On the insurance front, cumulative recoveries to date stand at INR 164 crore, which comprises on- account insurance claims as well as salvage realization till now. Our net claim receivable as on date stands as INR 186 crore on a consolidated basis and we continue to engage closely with insurers to expedite final settlement against the same, followed by some additional recoveries under various other insurance policies, such as, loss on profit. 2. Board approval on fundraise QIP To support our long-term capital requirement and prepare our companies for growth opportunities coming in the future across battery material as well as organo-lithium space, we decided to de- leverage our balance sheet and the Board has approved raising of INR 600 crore through an issue of eligible securities via a QIP, subject to shareholder and regulatory approvals. 3. Updates on battery chemicals and Neogen Ionics performance Neogen Ionics delivered a robust performance in Q1 FY27, generating INR 19 crore in revenue compared to INR 5 crore in Q1 FY26 and delivering over 50% of the entire previous year’s revenue in just three months. Execution across our battery material facility also remains on schedule. Commissioning the facility for electrolyte is targeted for H1 FY27 and lithium electrolyte salts remain targeted for H2 FY27. Mechanical assembly for our electrolyte plant is complete, trial runs are already initiated, and product validation with leading domestic cell manufacturer is actively progressing. Page 2 of 22 We have secured provisional approvals from 4 international customers for lithium electrolyte salts and successfully completed final site audits from all 4 electrolyte manufacturers. Commercial supplies will commence post final plant trial approvals with global cell producers accelerating their transition towards non-FEOC, non-PAP compliant supply chain to meet US tax credit requirements by 2027. Neogen is uniquely positioned to serve this demand with our partner with established technology from Japan. Our strategic partner Morita remains fully committed to their USD 20 million equity contribution towards the joint venture, which is expected to come during Q2 and Q3 of the current year. Turning to the macro environment and key industry dynamics, our battery material strategy is strongly backed by Government support and proactive policy actions. Neogen with its customers remains currently the only giga-scale example where the local supply chain has been established, which has been appreciated by various Government departments. The ecosystem is seeing accelerated momentum driven by the product ramp-up of PLI ACC battery manufacturers as well as non-ACC PLI manufacturers. And further the allocation of 10 gigawatt hour ACC PLI re-bidding tranche and Government’s proposed PLI scheme for battery components, which will be pivotal in incentivizing raw material localiza [Showing first 8,000 characters — download PDF for full document]