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 ₹ 5,161 Cr.
- Current Price ₹ 419
- High / Low ₹ 465 / 267
- Stock P/E 69.2
- Book Value ₹ 97.6
- Dividend Yield 0.28 %
- ROCE 7.78 %
- ROE 5.96 %
- Face Value ₹ 2.00
Pros
- Company has been maintaining a healthy dividend payout of 17.5%
Cons
- Stock is trading at 4.31 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 9.42% over last 3 years.
- Company might be capitalizing the interest cost
- 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
Part of BSE Allcap Nifty Total Market BSE SmallCap BSE Healthcare Nifty Microcap 250
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 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
660 | 829 | 872 | 926 | 1,014 | 1,296 | 1,590 | 1,507 | 1,720 | 1,943 | 2,023 | 1,785 | 1,822 | |
476 | 642 | 689 | 745 | 814 | 1,054 | 1,291 | 1,234 | 1,398 | 1,602 | 1,765 | 1,518 | 1,522 | |
Operating Profit | 185 | 187 | 182 | 181 | 200 | 242 | 298 | 273 | 323 | 341 | 258 | 267 | 299 |
OPM % | 28% | 23% | 21% | 20% | 20% | 19% | 19% | 18% | 19% | 18% | 13% | 15% | 16% |
-42 | 34 | 2 | 2 | 1 | 4 | 2 | -12 | 5 | 5 | 5 | 2 | 5 | |
Interest | 60 | 68 | 60 | 62 | 48 | 49 | 58 | 52 | 36 | 31 | 48 | 56 | 73 |
Depreciation | 49 | 55 | 64 | 67 | 69 | 86 | 93 | 82 | 85 | 96 | 109 | 118 | 129 |
Profit before tax | 33 | 98 | 60 | 53 | 83 | 112 | 149 | 127 | 206 | 219 | 105 | 95 | 103 |
Tax % | 23% | 35% | 32% | 22% | 15% | 31% | 31% | 33% | 36% | 27% | 26% | 27% | |
26 | 64 | 41 | 41 | 71 | 77 | 103 | 84 | 133 | 161 | 78 | 70 | 74 | |
EPS in Rs | 2.06 | 5.19 | 3.29 | 3.35 | 5.73 | 6.26 | 8.36 | 6.85 | 10.80 | 13.02 | 6.36 | 5.64 | 6.04 |
Dividend Payout % | 16% | 12% | 20% | 20% | 14% | 13% | 14% | 18% | 19% | 12% | 19% | 21% |
Compounded Sales Growth | |
---|---|
10 Years: | 8% |
5 Years: | 2% |
3 Years: | 1% |
TTM: | 0% |
Compounded Profit Growth | |
---|---|
10 Years: | 1% |
5 Years: | -8% |
3 Years: | -20% |
TTM: | 4% |
Stock Price CAGR | |
---|---|
10 Years: | 16% |
5 Years: | 30% |
3 Years: | 2% |
1 Year: | 34% |
Return on Equity | |
---|---|
10 Years: | 11% |
5 Years: | 11% |
3 Years: | 9% |
Last Year: | 6% |
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 | Sep 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 16 | 16 | 16 | 16 | 16 | 16 | 25 | 25 | 25 | 25 | 25 | 25 | 25 |
Reserves | 435 | 489 | 517 | 548 | 589 | 653 | 732 | 792 | 909 | 1,043 | 1,109 | 1,163 | 1,179 |
584 | 546 | 547 | 505 | 598 | 635 | 661 | 646 | 610 | 675 | 748 | 818 | 775 | |
157 | 219 | 212 | 206 | 177 | 237 | 268 | 306 | 370 | 470 | 504 | 482 | 481 | |
Total Liabilities | 1,192 | 1,271 | 1,293 | 1,276 | 1,379 | 1,542 | 1,686 | 1,768 | 1,913 | 2,213 | 2,385 | 2,487 | 2,460 |
661 | 644 | 639 | 623 | 668 | 634 | 713 | 735 | 713 | 879 | 948 | 1,071 | 1,038 | |
CWIP | 49 | 61 | 62 | 66 | 63 | 118 | 79 | 161 | 254 | 295 | 412 | 414 | 438 |
Investments | 3 | 3 | 3 | 3 | 4 | 3 | 1 | 1 | 1 | 11 | 5 | 5 | 17 |
480 | 562 | 589 | 584 | 645 | 788 | 893 | 871 | 946 | 1,028 | 1,020 | 997 | 966 | |
Total Assets | 1,192 | 1,271 | 1,293 | 1,276 | 1,379 | 1,542 | 1,686 | 1,768 | 1,913 | 2,213 | 2,385 | 2,487 | 2,460 |
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
61 | 155 | 102 | 186 | 163 | 139 | 186 | 285 | 229 | 294 | 315 | 187 | |
-28 | -23 | -43 | -64 | -103 | -110 | -125 | -164 | -156 | -284 | -292 | -174 | |
-27 | -124 | -69 | -124 | -63 | -25 | -55 | -101 | -97 | -6 | -8 | -27 | |
Net Cash Flow | 7 | 7 | -10 | -2 | -2 | 4 | 6 | 20 | -24 | 4 | 15 | -14 |
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 | 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% | 8% |
Documents
Announcements
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Updation Of E-Mail Address And Website Address Of Registrar And Share Transfer Agent Of The Company.
18 Apr - Updation of RTA email and website addresses.
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Disclosure under Regulation 30A of LODR
16 Apr - Amalgamation of promoter group companies; shares vested with two entities.
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Announcement under Regulation 30 (LODR)-Credit Rating
10 Apr - ICRA reaffirms credit ratings for Hikal Limited.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
9 Apr - Certificate under Regulation 74(5) for Q1 2025.
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Announcement under Regulation 30 (LODR)-Cessation
9 Apr - CTO Mr. Dharmesh Panchal resigns effective April 9, 2025.
Annual reports
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Financial Year 2024
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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
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Concalls
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Feb 2025Transcript PPT REC
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Nov 2024TranscriptPPT
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Oct 2019TranscriptPPT
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Aug 2019TranscriptNotesPPT
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Nov 2018Transcript PPT
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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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Business Segments
1. Pharmaceuticals [1]: Active pharmaceutical ingredients (APIs), intermediates and advanced intermediates.
2. CDMO: ** Company has a pipeline of 13-14 products in various development stages, with 2 expected to be launched by FY26. The company focuses on NCEs and advanced intermediates, attracting growing interest from innovator companies.[2][3]
3. Crop Protection: Active ingredients, advanced intermediates, intermediates. Custom Synthesis and Contract Manufacturing of Agrochemicals, Intermediates and Specialty Chemicals. (Personal care products, Battery chemicals, and home care)
4. 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. [4] [5]