Hester Biosciences Ltd

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Hester Biosciences Ltd

₹ 2,196 -2.24%
18 Sep - close price
hester.in BSE: 524669 NSE: HESTERBIO
About

Incorporated in 1987, Hester Biosciences Ltd is one of India’s leading animal healthcare companies and a major manufacturer of poultry and animal vaccines, including a leading position in PPR and Goat Pox vaccines.[1]

Key Points

Business Overview[1]
Hester operates an integrated animal healthcare platform across Poultry Healthcare and Animal Healthcare, offering vaccines, therapeutics, feed supplements, diagnostics, and petcare products. It's portfolio serves poultry farmers, livestock producers, veterinarians, and pet owners through a combination of R&D, manufacturing, quality systems, technical services, and field support.

Website BSE NSE
  • Market Cap ₹ 1,868 Cr.
  • Current Price ₹ 2,196
  • High / Low ₹ 2,684 / 1,239
  • Stock P/E 34.8
  • Book Value ₹ 453
  • Dividend Yield 0.50 %
  • ROCE 15.5 %
  • ROE 13.0 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 18.5%

Cons

  • Stock is trading at 4.85 times its book value
  • The company has delivered a poor sales growth of 6.98% over past five years.
  • Company has a low return on equity of 10.7% 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

Healthcare Healthcare Pharmaceuticals & Biotechnology Pharmaceuticals

Part of BSE Healthcare

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
80 66 66 73 73 74 63 77 63 65 70 94 73
69 54 54 60 60 59 54 63 51 53 54 62 48
Operating Profit 11 12 12 12 14 15 9 14 12 12 17 31 24
OPM % 14% 18% 18% 17% 18% 20% 14% 18% 20% 18% 24% 34% 34%
1 1 1 1 1 1 1 1 1 1 1 11 2
Interest 1 1 1 1 1 1 2 1 1 1 1 4 1
Depreciation 3 3 3 2 2 2 2 2 2 2 2 4 5
Profit before tax 9 9 9 10 11 12 6 11 10 10 15 35 20
Tax % 26% 26% 25% 27% 25% 25% 32% 16% 24% 27% 27% 24% 26%
6 7 6 7 8 9 4 10 8 7 11 26 15
EPS in Rs 7.61 7.97 7.62 8.73 9.91 10.98 5.22 11.33 9.22 8.48 12.54 31.01 17.29
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
90 101 123 135 171 169 208 219 254 285 286 292 301
64 67 82 85 103 117 136 159 199 238 235 219 217
Operating Profit 26 34 41 50 68 53 72 61 55 47 51 73 84
OPM % 29% 34% 33% 37% 40% 31% 35% 28% 22% 17% 18% 25% 28%
3 1 1 2 3 3 -4 5 5 4 4 14 15
Interest 4 4 3 2 4 5 4 2 6 5 5 7 8
Depreciation 5 6 6 5 8 9 10 10 10 10 9 10 13
Profit before tax 19 25 33 44 60 41 55 53 44 37 42 70 79
Tax % 26% 23% 25% 30% 27% 24% 27% 26% 26% 26% 24% 25%
14 19 25 31 44 31 40 40 32 27 32 52 59
EPS in Rs 16.45 22.59 29.32 35.92 51.55 36.70 46.90 46.46 38.02 31.93 37.43 61.24 69.32
Dividend Payout % 19% 18% 18% 28% 21% 18% 21% 22% 21% 19% 19% 18%
Compounded Sales Growth
10 Years: 11%
5 Years: 7%
3 Years: 5%
TTM: 9%
Compounded Profit Growth
10 Years: 9%
5 Years: 2%
3 Years: 13%
TTM: 72%
Stock Price CAGR
10 Years: 11%
5 Years: -3%
3 Years: 9%
1 Year: 9%
Return on Equity
10 Years: 15%
5 Years: 12%
3 Years: 11%
Last Year: 13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 9 9 9 9 9 9 9 9 9 9 9 9
Reserves 76 92 114 138 171 195 229 260 284 304 331 377
39 39 39 43 38 48 16 122 164 134 104 75
17 20 17 22 23 26 29 34 89 103 103 97
Total Liabilities 140 159 178 210 240 277 282 424 546 550 546 557
57 62 61 67 101 96 87 84 108 103 105 288
CWIP 14 10 21 30 0 1 4 82 149 171 183 9
Investments 9 9 9 14 28 41 44 65 65 65 65 64
61 78 88 99 111 139 148 194 224 210 193 196
Total Assets 140 159 178 210 240 277 282 424 546 550 546 557

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
20 19 28 32 36 26 41 16 33 43 64 51
-12 -6 -15 -26 -25 -21 -4 -111 -72 -21 -19 -2
-5 -12 -6 -6 -20 -1 -41 95 41 -24 -46 -48
Net Cash Flow 3 1 6 -0 -9 3 -4 0 3 -2 -1 0
Free Cash Flow 13 13 12 12 25 18 37 -75 -39 21 44 34
CFO/OP 101% 73% 84% 84% 76% 71% 76% 53% 75% 114% 144% 89%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 72 95 79 86 70 96 80 95 118 110 103 115
Inventory Days 431 627 356 493 511 754 390 404 362 251 228 267
Days Payable 68 109 80 100 85 170 96 63 131 109 127 92
Cash Conversion Cycle 434 614 355 480 496 681 374 436 349 252 204 290
Working Capital Days 55 89 87 94 123 129 182 149 106 130 110 117
ROCE % 18% 22% 24% 26% 31% 20% 25% 17% 12% 9% 11% 16%

Insights

In beta
Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Installed Capacity (Vaccine Doses)
Billion doses per annum

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Permanent Employees (Standalone India)
Count
Poultry Healthcare Revenue Share (Standalone)
%
Total Vaccines in Portfolio
Count
Number of Countries Served
Count
Number of Distributors in India
Count
Poultry Vaccine Market Share in India
%
Global PPR Vaccine Market Share
%
R&D Expenditure (Percentage of Turnover)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
53.73% 53.73% 53.73% 53.73% 53.73% 53.73% 53.73% 53.73% 53.73% 53.73% 53.73% 53.73%
0.42% 0.43% 0.43% 0.52% 0.61% 0.59% 0.87% 0.51% 0.53% 0.52% 0.38% 0.31%
0.00% 0.00% 0.00% 0.00% 0.00% 0.02% 0.02% 0.02% 0.00% 0.01% 0.00% 0.00%
45.84% 45.83% 45.84% 45.74% 45.66% 45.65% 45.38% 45.73% 45.73% 45.75% 45.88% 45.95%
No. of Shareholders 13,34213,45012,84411,30511,53811,47311,85311,81012,26012,60312,37311,961

* 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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Documents

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