Hester Biosciences Ltd
Hester Biosciences Ltd is one of the leading animal health care companies & the second largest poultry vaccine manufacturer in India. Founded by Mr. Rajiv Gandhi in 1987, it has now a presence in over 30 countries & has a key market in India, Nepal & Tanzania. It has partnered with Bill & Melinda Gates Foundation, GALVmed, Golchha Organisation, Novapharma, etc. While operating across four broad verticals of Poultry Vaccines, Poultry Health Products, Animal Vaccines and Animal Health Products, the company provides services like seroprofiling kits and diagnostic labs for poultry flocks, and mastitis control programs for cattle.[1]
- Market Cap ₹ 2,042 Cr.
- Current Price ₹ 2,400
- High / Low ₹ 2,727 / 1,293
- Stock P/E 75.2
- Book Value ₹ 368
- Dividend Yield 0.33 %
- ROCE 9.26 %
- ROE 8.98 %
- Face Value ₹ 10.0
Pros
- Company has been maintaining a healthy dividend payout of 20.5%
Cons
- Stock is trading at 6.53 times its book value
- The company has delivered a poor sales growth of 10.7% over past five years.
- Company has a low return on equity of 11.8% over last 3 years.
- Company might be capitalizing the interest cost
* 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 - Formulations
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
65 | 69 | 90 | 101 | 123 | 135 | 171 | 169 | 208 | 219 | 254 | 285 | |
42 | 43 | 64 | 67 | 82 | 85 | 103 | 117 | 136 | 159 | 199 | 238 | |
Operating Profit | 22 | 25 | 26 | 34 | 41 | 50 | 68 | 53 | 72 | 61 | 55 | 47 |
OPM % | 35% | 37% | 29% | 34% | 33% | 37% | 40% | 31% | 35% | 28% | 22% | 17% |
0 | 1 | 3 | 1 | 1 | 2 | 3 | 3 | -4 | 5 | 5 | 4 | |
Interest | 3 | 6 | 4 | 4 | 3 | 2 | 4 | 5 | 4 | 2 | 6 | 5 |
Depreciation | 4 | 5 | 5 | 6 | 6 | 5 | 8 | 9 | 10 | 10 | 10 | 10 |
Profit before tax | 15 | 14 | 19 | 25 | 33 | 44 | 60 | 41 | 55 | 53 | 44 | 37 |
Tax % | 36% | 29% | 26% | 23% | 25% | 30% | 27% | 24% | 27% | 26% | 26% | 26% |
10 | 10 | 14 | 19 | 25 | 31 | 44 | 31 | 40 | 40 | 32 | 27 | |
EPS in Rs | 11.39 | 11.86 | 16.45 | 22.59 | 29.32 | 35.92 | 51.55 | 36.70 | 46.90 | 46.46 | 38.02 | 31.93 |
Dividend Payout % | 18% | 17% | 19% | 18% | 18% | 28% | 21% | 18% | 21% | 22% | 21% | 19% |
Compounded Sales Growth | |
---|---|
10 Years: | 15% |
5 Years: | 11% |
3 Years: | 11% |
TTM: | 12% |
Compounded Profit Growth | |
---|---|
10 Years: | 10% |
5 Years: | -9% |
3 Years: | -15% |
TTM: | -16% |
Stock Price CAGR | |
---|---|
10 Years: | 30% |
5 Years: | 6% |
3 Years: | -2% |
1 Year: | 40% |
Return on Equity | |
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10 Years: | 17% |
5 Years: | 14% |
3 Years: | 12% |
Last Year: | 9% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
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 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
Reserves | 59 | 67 | 76 | 92 | 114 | 138 | 171 | 195 | 229 | 260 | 284 | 304 |
24 | 35 | 39 | 39 | 39 | 43 | 38 | 48 | 16 | 122 | 164 | 134 | |
23 | 17 | 17 | 20 | 17 | 22 | 23 | 26 | 29 | 34 | 89 | 103 | |
Total Liabilities | 115 | 129 | 140 | 159 | 178 | 210 | 240 | 277 | 282 | 424 | 546 | 550 |
35 | 51 | 57 | 62 | 61 | 67 | 101 | 96 | 87 | 84 | 108 | 107 | |
CWIP | 24 | 13 | 14 | 10 | 21 | 30 | 0 | 1 | 4 | 82 | 149 | 168 |
Investments | 3 | 4 | 9 | 9 | 9 | 14 | 28 | 41 | 44 | 65 | 65 | 65 |
53 | 61 | 61 | 78 | 88 | 99 | 111 | 139 | 148 | 194 | 224 | 210 | |
Total Assets | 115 | 129 | 140 | 159 | 178 | 210 | 240 | 277 | 282 | 424 | 546 | 550 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
13 | 11 | 20 | 19 | 28 | 32 | 36 | 26 | 41 | 16 | 33 | 43 | |
-18 | -14 | -12 | -6 | -15 | -26 | -25 | -21 | -4 | -111 | -72 | -21 | |
4 | 3 | -5 | -12 | -6 | -6 | -20 | -1 | -41 | 95 | 41 | -24 | |
Net Cash Flow | -0 | -0 | 3 | 1 | 6 | -0 | -9 | 3 | -4 | 0 | 3 | -2 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
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 | 85 | 75 | 72 | 95 | 79 | 86 | 70 | 96 | 80 | 95 | 118 | 110 |
Inventory Days | 736 | 1,145 | 431 | 627 | 356 | 493 | 511 | 754 | 390 | 404 | 362 | 251 |
Days Payable | 134 | 143 | 68 | 109 | 80 | 100 | 85 | 170 | 96 | 63 | 131 | 110 |
Cash Conversion Cycle | 686 | 1,076 | 434 | 614 | 355 | 480 | 496 | 681 | 374 | 436 | 349 | 250 |
Working Capital Days | 137 | 195 | 137 | 165 | 139 | 160 | 167 | 197 | 205 | 230 | 222 | 200 |
ROCE % | 22% | 20% | 18% | 22% | 24% | 26% | 31% | 20% | 25% | 17% | 12% |
Documents
Announcements
- Closure of Trading Window 2d
- Reply To Clarification Sought On Price Movement 25 Jun
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Clarification sought from Hester Biosciences Ltd
24 Jun - Exchange has sought clarification from Hester Biosciences Ltd on June 24, 2024 with reference to significant movement in price, in order to ensure that investors …
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Compliances-Reg.24(A)-Annual Secretarial Compliance
16 May - In compliance with the Regulation 24A of Listing Regulations, Annual Secretarial Compliance Report of the Company for the year ended 31 March 2024
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
14 May - Transcripts of earnings conference call held on 10 May 2024
Annual reports
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Financial Year 2023
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Financial Year 2011
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Financial Year 2010
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Financial Year 2009
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Concalls
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May 2024TranscriptPPTREC
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Feb 2024TranscriptPPTREC
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Nov 2023TranscriptPPTREC
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Nov 2023TranscriptNotesPPTREC
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Aug 2023TranscriptPPT
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Oct 2016TranscriptPPT
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Aug 2016TranscriptPPT
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May 2016TranscriptPPT
Business Segments