Hester Biosciences Ltd

Hester Biosciences Ltd

₹ 1,411 -0.77%
26 Feb - close price
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

Business Segments

  • Market Cap 1,200 Cr.
  • Current Price 1,411
  • High / Low 1,940 / 1,384
  • Stock P/E 46.2
  • Book Value 351
  • Dividend Yield 0.57 %
  • ROCE 11.9 %
  • ROE 11.5 %
  • Face Value 10.0

Pros

  • Company has been maintaining a healthy dividend payout of 21.3%

Cons

  • Debtor days have increased from 97.6 to 118 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
52.82 63.16 58.51 56.59 54.00 50.25 50.53 72.00 70.77 60.70 80.35 66.43 65.51
32.24 42.54 40.36 39.46 38.76 40.20 41.33 56.22 51.78 49.78 68.99 54.43 53.94
Operating Profit 20.58 20.62 18.15 17.13 15.24 10.05 9.20 15.78 18.99 10.92 11.36 12.00 11.57
OPM % 38.96% 32.65% 31.02% 30.27% 28.22% 20.00% 18.21% 21.92% 26.83% 17.99% 14.14% 18.06% 17.66%
0.64 -5.16 1.03 1.32 1.22 1.08 1.23 2.18 0.96 0.95 0.86 1.22 0.98
Interest 0.94 0.47 0.37 0.35 0.37 1.38 1.27 1.74 3.14 0.35 0.94 1.48 1.37
Depreciation 2.44 2.45 2.30 2.32 2.33 2.55 2.39 2.34 2.44 2.62 2.55 2.58 2.57
Profit before tax 17.84 12.54 16.51 15.78 13.76 7.20 6.77 13.88 14.37 8.90 8.73 9.16 8.61
Tax % 25.56% 29.35% 25.92% 25.35% 23.18% 31.25% 26.14% 25.43% 25.40% 29.66% 26.00% 25.87% 24.85%
13.29 8.86 12.24 11.77 10.56 4.95 5.01 10.35 10.73 6.26 6.47 6.78 6.48
EPS in Rs 15.62 10.42 14.39 13.84 12.41 5.82 5.89 12.17 12.61 7.36 7.61 7.97 7.62
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
48 65 69 90 101 123 135 171 169 208 219 254 273
29 42 43 64 67 82 85 103 117 136 159 199 227
Operating Profit 19 22 25 26 34 41 50 68 53 72 61 55 46
OPM % 39% 35% 37% 29% 34% 33% 37% 40% 31% 35% 28% 22% 17%
0 0 1 3 1 1 2 3 3 -4 5 5 4
Interest 3 3 6 4 4 3 2 4 5 4 2 6 4
Depreciation 4 4 5 5 6 6 5 8 9 10 10 10 10
Profit before tax 12 15 14 19 25 33 44 60 41 55 53 44 35
Tax % 36% 36% 29% 26% 23% 25% 30% 27% 24% 27% 26% 26%
8 10 10 14 19 25 31 44 31 40 40 32 26
EPS in Rs 9.16 11.39 11.86 16.45 22.59 29.32 35.92 51.55 36.70 46.90 46.46 38.02 30.56
Dividend Payout % 7% 18% 17% 19% 18% 18% 28% 21% 18% 21% 22% 21%
Compounded Sales Growth
10 Years: 15%
5 Years: 14%
3 Years: 14%
TTM: 12%
Compounded Profit Growth
10 Years: 13%
5 Years: 1%
3 Years: 2%
TTM: -16%
Stock Price CAGR
10 Years: 32%
5 Years: 2%
3 Years: -8%
1 Year: -21%
Return on Equity
10 Years: 18%
5 Years: 17%
3 Years: 15%
Last Year: 12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 6 9 9 9 9 9 9 9 9 9 9 9 9
Reserves 54 59 67 76 92 114 138 171 195 229 260 284 290
16 24 35 39 39 39 43 38 48 16 122 164 162
16 23 17 17 20 17 22 23 26 29 34 89 103
Total Liabilities 92 115 129 140 159 178 210 240 277 282 424 546 564
37 35 51 57 62 61 67 101 96 87 84 108 107
CWIP 6 24 13 14 10 21 30 0 1 4 82 149 162
Investments 2 3 4 9 9 9 14 28 41 44 65 65 65
47 53 61 61 78 88 99 111 139 148 194 224 231
Total Assets 92 115 129 140 159 178 210 240 277 282 424 546 564

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
13 13 11 20 19 28 32 36 26 41 16 33
-7 -18 -14 -12 -6 -15 -26 -25 -21 -4 -111 -72
-5 4 3 -5 -12 -6 -6 -20 -1 -41 95 41
Net Cash Flow 0 -0 -0 3 1 6 -0 -9 3 -4 0 3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 109 85 75 72 95 79 86 70 96 80 95 118
Inventory Days 1,350 736 1,145 431 627 356 493 511 754 390 404 362
Days Payable 196 134 143 68 109 80 100 85 170 96 63 131
Cash Conversion Cycle 1,263 686 1,076 434 614 355 480 496 681 374 436 349
Working Capital Days 204 137 195 137 165 139 160 167 197 205 230 222
ROCE % 21% 22% 20% 18% 22% 24% 26% 31% 20% 25% 17% 12%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
53.73% 53.73% 53.73% 53.73% 53.73% 53.73% 53.73% 53.73% 53.73% 53.73% 53.73% 53.73%
0.60% 0.58% 0.68% 0.80% 0.92% 0.72% 0.62% 0.45% 0.45% 0.45% 0.42% 0.43%
0.82% 0.40% 0.01% 0.02% 0.03% 0.04% 0.03% 0.03% 0.00% 0.00% 0.00% 0.00%
44.84% 45.29% 45.58% 45.45% 45.31% 45.51% 45.60% 45.77% 45.81% 45.82% 45.84% 45.83%
No. of Shareholders 10,50616,10816,39916,26915,01713,43913,71113,39113,12012,98413,34213,450

* 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.

Click on the line-items to see the names of individual entities.

Documents

Concalls