Hester Biosciences Ltd

Hester Bios Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Hester Biosciences Ltd

₹ 2,382 -2.26%
21 Nov - close price
hester.in BSE: 524669 NSE: HESTERBIO
About

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]

Key Points

Market Share
The company is the world’s largest manufacturer and supplier of PPR vaccines, having ~75% of the world market. It has a 70%+ market share in Goat Pox vaccine in India. It is also the second largest poultry vaccine manufacturer, with ~35% market share in India. [1]

Website BSE NSE
  • Market Cap ₹ 2,026 Cr.
  • Current Price ₹ 2,382
  • High / Low ₹ 3,379 / 1,293
  • Stock P/E 86.3
  • Book Value ₹ 355
  • Dividend Yield 0.25 %
  • ROCE 9.32 %
  • ROE 6.60 %
  • Face Value ₹ 10.0
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Pros

  • Company has been maintaining a healthy dividend payout of 24.8%

Cons

  • Stock is trading at 6.66 times its book value
  • The company has delivered a poor sales growth of 11.3% over past five years.
  • Company has a low return on equity of 10.6% over last 3 years.

* 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

Part of BSE Allcap BSE SmallCap BSE Healthcare

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
62.66 55.69 56.47 50.70 73.15 74.94 67.30 87.85 70.46 66.98 79.26 82.27 83.69
45.10 40.66 46.15 43.27 60.40 56.18 55.63 73.49 57.24 56.83 63.34 64.62 64.53
Operating Profit 17.56 15.03 10.32 7.43 12.75 18.76 11.67 14.36 13.22 10.15 15.92 17.65 19.16
OPM % 28.02% 26.99% 18.28% 14.65% 17.43% 25.03% 17.34% 16.35% 18.76% 15.15% 20.09% 21.45% 22.89%
1.42 2.78 7.62 4.69 5.01 6.37 3.49 2.52 5.91 2.20 4.63 2.09 2.80
Interest 0.74 0.96 1.50 1.60 2.46 3.89 1.37 2.57 8.08 2.19 6.94 5.01 5.89
Depreciation 3.05 5.17 5.13 5.06 5.03 5.24 5.37 5.40 4.28 3.75 3.74 4.13 4.20
Profit before tax 15.19 11.68 11.31 5.46 10.27 16.00 8.42 8.91 6.77 6.41 9.87 10.60 11.87
Tax % 26.73% 28.68% 20.34% 34.98% 35.74% 24.00% 32.19% 24.69% 40.18% 37.44% 35.16% 29.34% 29.32%
11.13 8.33 9.00 3.56 6.60 12.16 5.71 6.71 4.04 4.02 6.40 7.49 8.39
EPS in Rs 12.48 9.97 9.07 4.67 8.16 13.15 5.33 6.90 4.81 4.68 5.82 7.45 9.64
Raw PDF

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 TTM
65 69 90 101 123 136 178 183 214 235 266 305 312
43 44 64 67 82 89 110 128 146 175 215 251 249
Operating Profit 22 24 25 34 41 47 68 55 69 60 51 54 63
OPM % 34% 36% 28% 34% 33% 35% 38% 30% 32% 26% 19% 18% 20%
0 1 3 1 0 3 7 6 1 14 20 15 12
Interest 3 6 5 4 4 4 7 7 7 4 9 20 20
Depreciation 4 5 6 6 7 10 12 13 13 17 21 17 16
Profit before tax 14 13 18 25 31 36 57 41 50 54 40 32 39
Tax % 37% 31% 26% 23% 26% 36% 28% 25% 31% 26% 30% 34%
9 9 13 19 23 23 41 31 35 39 28 21 26
EPS in Rs 10.89 11.11 15.99 22.57 27.68 30.12 48.87 34.29 40.47 46.22 31.30 22.21 27.59
Dividend Payout % 18% 18% 19% 18% 19% 33% 23% 19% 25% 22% 26% 27%
Compounded Sales Growth
10 Years: 16%
5 Years: 11%
3 Years: 12%
TTM: 4%
Compounded Profit Growth
10 Years: 8%
5 Years: -14%
3 Years: -20%
TTM: -8%
Stock Price CAGR
10 Years: 19%
5 Years: 8%
3 Years: 2%
1 Year: 56%
Return on Equity
10 Years: 15%
5 Years: 12%
3 Years: 11%
Last Year: 7%

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 Sep 2024
Equity Capital 9 9 9 9 9 9 9 9 9 9 9 9 9
Reserves 59 66 76 93 113 132 169 193 220 251 271 283 293
32 48 55 59 66 69 90 121 110 228 274 244 244
24 19 20 25 25 35 32 65 73 74 116 126 123
Total Liabilities 124 142 160 186 213 244 299 387 411 562 670 662 669
38 54 60 65 102 110 145 142 133 237 259 240 239
CWIP 29 21 33 36 21 32 7 74 109 82 149 171 171
Investments 0 0 0 0 0 0 0 0 0 21 25 30 32
57 68 68 85 89 102 148 170 169 222 237 221 228
Total Assets 124 142 160 186 213 244 299 387 411 562 670 662 669

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
12 9 20 19 35 38 47 37 58 9 24 48
-23 -15 -21 -13 -30 -26 -21 -73 -42 -117 -77 -22
10 7 7 -7 2 -11 3 19 -18 112 42 -26
Net Cash Flow -1 2 5 -1 6 1 28 -17 -2 3 -12 -0

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 85 75 72 95 79 87 67 116 84 86 109 94
Inventory Days 736 1,145 431 627 376 505 540 834 452 424 399 288
Days Payable 135 145 68 109 84 100 93 261 204 101 141 101
Cash Conversion Cycle 685 1,074 434 614 371 491 514 690 332 409 367 281
Working Capital Days 137 194 158 188 145 150 153 169 172 204 203 181
ROCE % 20% 18% 15% 19% 19% 20% 26% 16% 18% 14% 9% 9%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
53.73% 53.73% 53.73% 53.73% 53.73% 53.73% 53.73% 53.73% 53.73% 53.73% 53.73% 53.73%
0.80% 0.92% 0.72% 0.62% 0.45% 0.45% 0.45% 0.42% 0.43% 0.43% 0.52% 0.61%
0.02% 0.03% 0.04% 0.03% 0.03% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
45.45% 45.31% 45.51% 45.60% 45.77% 45.81% 45.82% 45.84% 45.83% 45.84% 45.74% 45.66%
No. of Shareholders 16,26915,01713,43913,71113,39113,12012,98413,34213,45012,84411,30511,538

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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