FY26 Base Business Revenue: INR 825-875 crore
Management reaffirmed base business guidance despite Dahej fire impact, citing volume growth, pharma pickup, and alternate sourcing strategies to offset bromine plant unavailability.
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FY26 Battery Chemicals Revenue: INR 300 crore
NeoGen Ionics expected to generate INR 300 crore with majority contribution in H2 FY26 as customer approvals complete and cell manufacturing ramps up at Ola, Exide, and others.
Target 20% ROC on Battery Chemicals at Full Utilization
Management maintained 20% return on capital target for electrolyte and lithium salt business at peak capacity utilization, with current pricing competitive versus Japanese and Korean suppliers.
NCD Issuance: INR 200 crore by August 2025
Board approved raising INR 200 crore via NCD for liquidity buffer to address potential timing mismatch between ongoing capex and insurance receipts, not for additional growth funding.
FY27 Standalone Revenue: ₹950-1,050 crore
Management raised standalone guidance from ₹875-950 crore to ₹950-1,050 crore, expecting base business to cross ₹1,000 crore in FY27, driven by full utilization of organo-lithium capacity.
FY27 Battery Chemicals Revenue: ₹300 crore
Battery chemicals (Neogen Ionic) guided at ₹300 crore comprising ₹200 crore from electrolyte salts and ₹100 crore from electrolyte, with major ramp-up expected in Q3-Q4 FY27.
FY29 Battery Revenue Potential: ₹2,400-2,900 crore
Current battery chemicals KAPEX designed for 30 GWh electrolyte and 40 GWh salts capacity, with full utilization targeted by FY29 at ₹2,400-2,900 crore revenue potential.
FY27 EBITDA Margin: 18% ±1.5%
Base business EBITDA margin guided at 18% ±1.5% for FY27, with expectation to improve to 18-20% range in FY28 as Hag plant stabilizes and operating leverage improves.
FY27 Battery Chemicals Revenue: 400-500 Crore
Management maintained full-year guidance, expecting major sales contribution from Q2 FY27 onwards as Dahej site approvals complete by June and Patanjali commercial production ramps up in H2.
Dahej Site Customer Approval by June 2026
Primary customer completing final approval process by Q1 FY27; 3-4 additional customers completing audits in March/April/May. Sales expected to commence from Q2 FY27.
Patanjali Greenfield: Electrolyte H1 FY27, Salt H2 FY27
Trial production for electrolyte targeted in H1 FY27, with salt production following in H2. Site approval expected by Q3, enabling Q4 FY27 sales contribution.
Dahej Expansion: 1,100 Tons by March 2026
Commissioning delayed from December 2025 to March 2026 due to design improvements and Mitsubishi collaboration training. Capacity synchronized with customer approval timelines.