Hikal Ltd
Hikal is a partner to companies in the Pharmaceuticals, Crop Protection, and Specialty Chemicals industry. The company is in the business of supplying research services, active ingredients and intermediates for its customers. Hikal's manufacturing facilities have been inspected and approved by leading multinational companies in the Crop protection and Pharmaceutical sectors. The Crop protection facilities are located at Taloja and Mahad {Maharashtra). The Pharmaceutical manufacturing facilities are situated in Jigani (Bengaluru) and Panoli (Gujarat). Hikal's R & D facilities are located in Pune.[1]
- Market Cap ₹ 3,682 Cr.
- Current Price ₹ 299
- High / Low ₹ 331 / 250
- Stock P/E 52.9
- Book Value ₹ 96.3
- Dividend Yield 0.40 %
- ROCE 7.81 %
- ROE 6.00 %
- Face Value ₹ 2.00
Pros
Cons
- Stock is trading at 3.10 times its book value
- The company has delivered a poor sales growth of 2.34% over past five years.
- Company has a low return on equity of 9.44% over last 3 years.
- Company might be capitalizing the interest cost
- Dividend payout has been low at 13.9% of profits over last 3 years
- Debtor days have increased from 91.5 to 113 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Pharmaceuticals Industry: Pharmaceuticals - Indian - Bulk Drugs
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
660 | 829 | 872 | 926 | 1,014 | 1,296 | 1,590 | 1,507 | 1,720 | 1,943 | 2,023 | 1,785 | |
476 | 642 | 689 | 745 | 813 | 1,054 | 1,291 | 1,234 | 1,398 | 1,602 | 1,765 | 1,518 | |
Operating Profit | 184 | 187 | 182 | 181 | 201 | 242 | 298 | 273 | 323 | 341 | 258 | 267 |
OPM % | 28% | 23% | 21% | 20% | 20% | 19% | 19% | 18% | 19% | 18% | 13% | 15% |
-42 | 34 | 2 | 2 | -3 | 4 | 2 | -12 | 5 | 5 | 5 | 2 | |
Interest | 60 | 68 | 60 | 62 | 48 | 49 | 58 | 52 | 36 | 31 | 48 | 56 |
Depreciation | 49 | 55 | 64 | 67 | 69 | 86 | 93 | 82 | 85 | 96 | 109 | 118 |
Profit before tax | 33 | 98 | 60 | 53 | 80 | 112 | 149 | 127 | 206 | 219 | 105 | 96 |
Tax % | 24% | 35% | 32% | 23% | 16% | 31% | 31% | 33% | 36% | 27% | 26% | 27% |
25 | 64 | 40 | 41 | 68 | 77 | 103 | 84 | 133 | 160 | 78 | 70 | |
EPS in Rs | 2.04 | 5.17 | 3.28 | 3.34 | 5.49 | 6.26 | 8.36 | 6.85 | 10.80 | 13.02 | 6.36 | 5.64 |
Dividend Payout % | 16% | 12% | 20% | 20% | 15% | 13% | 14% | 18% | 19% | 12% | 19% | 11% |
Compounded Sales Growth | |
---|---|
10 Years: | 8% |
5 Years: | 2% |
3 Years: | 1% |
TTM: | -12% |
Compounded Profit Growth | |
---|---|
10 Years: | 1% |
5 Years: | -8% |
3 Years: | -19% |
TTM: | -11% |
Stock Price CAGR | |
---|---|
10 Years: | 18% |
5 Years: | 12% |
3 Years: | -8% |
1 Year: | 2% |
Return on Equity | |
---|---|
10 Years: | 11% |
5 Years: | 11% |
3 Years: | 9% |
Last Year: | 6% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 16 | 16 | 16 | 16 | 16 | 16 | 25 | 25 | 25 | 25 | 25 | 25 |
Reserves | 434 | 488 | 516 | 547 | 589 | 653 | 732 | 792 | 909 | 1,043 | 1,109 | 1,163 |
584 | 546 | 547 | 505 | 598 | 635 | 661 | 646 | 610 | 675 | 748 | 818 | |
157 | 219 | 212 | 206 | 177 | 237 | 268 | 306 | 370 | 470 | 504 | 482 | |
Total Liabilities | 1,191 | 1,270 | 1,292 | 1,275 | 1,379 | 1,542 | 1,686 | 1,768 | 1,913 | 2,213 | 2,385 | 2,487 |
660 | 644 | 639 | 623 | 668 | 634 | 713 | 735 | 713 | 879 | 948 | 1,071 | |
CWIP | 49 | 61 | 62 | 66 | 63 | 118 | 79 | 161 | 254 | 295 | 412 | 414 |
Investments | 3 | 3 | 3 | 3 | 4 | 3 | 1 | 1 | 1 | 11 | 5 | 5 |
479 | 562 | 588 | 583 | 645 | 788 | 893 | 871 | 946 | 1,028 | 1,020 | 997 | |
Total Assets | 1,191 | 1,270 | 1,292 | 1,275 | 1,379 | 1,542 | 1,686 | 1,768 | 1,913 | 2,213 | 2,385 | 2,487 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
61 | 154 | 102 | 186 | 163 | 139 | 186 | 285 | 229 | 294 | 315 | 187 | |
-28 | -23 | -43 | -64 | -102 | -110 | -125 | -164 | -156 | -284 | -292 | -174 | |
-27 | -124 | -69 | -124 | -63 | -25 | -55 | -101 | -97 | -6 | -8 | -27 | |
Net Cash Flow | 6 | 7 | -10 | -2 | -2 | 4 | 6 | 20 | -24 | 4 | 15 | -14 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 47 | 39 | 54 | 44 | 92 | 81 | 80 | 82 | 103 | 82 | 80 | 113 |
Inventory Days | 359 | 302 | 268 | 229 | 189 | 158 | 156 | 147 | 107 | 121 | 104 | 134 |
Days Payable | 158 | 127 | 117 | 101 | 93 | 86 | 68 | 95 | 92 | 91 | 103 | 123 |
Cash Conversion Cycle | 248 | 214 | 205 | 173 | 188 | 153 | 168 | 135 | 118 | 112 | 81 | 124 |
Working Capital Days | 84 | 95 | 84 | 97 | 126 | 107 | 114 | 90 | 113 | 98 | 86 | 119 |
ROCE % | 14% | 16% | 11% | 11% | 12% | 13% | 15% | 14% | 16% | 15% | 8% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
15 May - Transcript of earnings call held on May 9, 2024 for quarter and financial year ended March 31, 2024
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
9 May - Submission of audio recording of earnings conference call for the period ended Q4 FY24
- Corporate Action-Board approves Dividend 9 May
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
9 May - Earnings Press Release on the financial results of the Company for the quarter and financial year ended March 31, 2024, titled "Margin improvement in FY24"
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Announcement under Regulation 30 (LODR)-Investor Presentation
9 May - Investor presentation on the audited standalone and consolidated financial results of the Company for the quarter and financial year ended March 31, 2024.
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
from nse
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Financial Year 2010
from bse
Concalls
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT
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Jun 2023Transcript PPT REC
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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Jun 2022Transcript PPT
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Feb 2022TranscriptNotesPPT
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Oct 2021Transcript PPT
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Aug 2021Transcript PPT
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May 2021Transcript PPT
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Aug 2020Transcript PPT
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Oct 2019TranscriptPPT
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Aug 2019TranscriptNotesPPT
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Mar 2019TranscriptNotesPPT
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Nov 2018Transcript PPT
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May 2018TranscriptPPT
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Mar 2018TranscriptNotesPPT
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Nov 2017TranscriptNotesPPT
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Jun 2017TranscriptNotesPPT
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Feb 2016TranscriptNotesPPT
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Feb 2016TranscriptNotesPPT
Business Segments
1. Pharmaceuticals [1]: Active pharmaceutical ingredients (APIs), custom manufacturing, intermediates and advanced intermediates.
2. Crop Protection: Active ingredients, advanced intermediates, intermediates. Custom Synthesis and Contract Manufacturing of Agrochemicals, Intermediates and Specialty Chemicals.
3. Research & Technology:** Process development, new product development, contract and custom development. It caters to the following Industries: Pharmaceutical (Generics & Custom Manufacturing), Biotech, Animal Healthcare, Crop Protection, Specialty Chemicals and Biocides, and Food. [2] [3]