Neogen Chemicals Transfers LiPF6 Business for ₹245 Crore

Neogen Chemicals Ltd announced its wholly-owned subsidiary, Neogen Ionics Ltd (NIL), will transfer its Lithium hexafluorophosphate (LiPF6) business to its step-down subsidiary, Neogen Morita New Materials Ltd (NML).

The transaction, valued at a lump-sum consideration of ₹245 crore, aims to consolidate the company’s Electrolyte Salt businesses under Neogen Morita New Materials Ltd.

Transaction Specifics

• Consideration: ₹245 crore via Business Transfer Agreement (BTA).
• Anticipated receipt: By March 31, 2027.
• Approvals: Boards of NIL and NML approved, with NIL shareholders consenting.

The undertaking’s financials, as of March 31, 2026, show a net worth of ₹155.52 crore, yet it generated no revenue during the financial year.

This business segment represented a notable portion of the company’s financial structure, illustrating its strategic importance despite current revenue figures.

Financial Contribution & Entity Overview

• Contribution to Neogen Chemicals’ consolidated net worth: 19.05%.
• Contribution to Neogen Ionics Ltd’s consolidated net worth: 57.36%.
• Neogen Ionics Ltd (NIL): Incorporated in March 2023, with a turnover of ₹35.97 crore as of March 31, 2026.
• Neogen Morita New Materials Ltd (NML): Established in July 2025, with no turnover as of March 31, 2026.

Neogen Chemicals clarified the transfer as a strategic consolidation, conducted on an arm’s-length basis, aligning with regulatory exemptions.

Following the announcement, shares of Neogen Chemicals Ltd closed at ₹2,208.00 on the BSE, marking a minor decline of 0.084%.