Neogen Chemicals soars on commencing operations at Dahej plant

Neogen Chemicals jumped 12.48% to Rs 1093 after the company commenced commercial production of organic chemicals at its new plant in Dahej SEZ.

In an exchange filing made after market hours yesterday, the company said that the Phase I commercial production/ operations for manufacturing of organic chemicals has commenced at full scale successfully on 6 September 2021 at the company's manufacturing facility situated at Dahej SEZ in Gujarat.

On the BSE, over 0.46 lakh shares of the company were traded in the counter so far as against an average trading volume of 5706 shares in the past two weeks.

On the NSE, over 4.59 lakh shares of Neogen Chemicals changed hands in the counter as compared with an average trading volume of 70,232 shares in the past three months.

Neogen Chemicals is chemical manufacturing company. specialising in bromine based compounds, Grignard, Reagents and Inorganic Lithium Salts.

The company's consolidated net profit increased by 20.26% to Rs 7.36 crore on a 10.51% increase in net sales to Rs 84.64 crore in Q1 FY22 over Q1 FY21.

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