Hester Biosciences Ltd

₹ 2,012 0.44%
30 Sep - 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
Partners with Bill & Melinda Gates Foundation, GALVmed, Golchha Organisation, Novapharma, etc.
Also, provides services like seroprofiling kits and diagnostic labs for poultry flocks, and mastitis control programs for cattle.[1]

Key Points

Revenue Mix:
India - 84%, Nepal - 8%, Africa 1.5%.

  • Market Cap 1,711 Cr.
  • Current Price 2,012
  • High / Low 2,950 / 1,930
  • Stock P/E 56.6
  • Book Value 306
  • Dividend Yield 0.50 %
  • ROCE 13.9 %
  • ROE 16.1 %
  • Face Value 10.0

Pros

  • Company has been maintaining a healthy dividend payout of 21.9%

Cons

  • 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
44.76 44.20 50.69 43.62 39.85 53.41 56.89 64.18 60.19 62.66 55.69 56.47 50.70
27.19 33.15 29.99 36.43 27.94 37.60 35.71 44.40 43.12 45.10 40.66 46.15 43.27
Operating Profit 17.57 11.05 20.70 7.19 11.91 15.81 21.18 19.78 17.07 17.56 15.03 10.32 7.43
OPM % 39.25% 25.00% 40.84% 16.48% 29.89% 29.60% 37.23% 30.82% 28.36% 28.02% 26.99% 18.28% 14.65%
0.58 0.70 0.30 4.79 0.69 0.24 1.27 -0.84 2.35 1.42 2.78 7.62 4.69
Interest 1.90 1.41 2.63 2.54 1.54 2.11 1.52 1.44 0.86 0.74 0.96 1.50 1.60
Depreciation 3.23 3.23 3.42 3.20 3.18 3.24 3.27 3.63 3.23 3.05 5.17 5.13 5.06
Profit before tax 13.02 7.11 14.95 6.24 7.88 10.70 17.66 13.87 15.33 15.19 11.68 11.31 5.46
Tax % 37.94% 12.80% 20.07% 23.72% 35.91% 37.48% 27.12% 27.18% 28.11% 26.73% 28.68% 20.34% 34.98%
Net Profit 8.09 6.20 11.95 4.76 5.05 6.68 12.87 10.10 11.02 11.13 8.33 9.00 3.56
EPS in Rs 9.86 7.66 13.54 3.22 6.72 7.85 14.52 11.39 14.68 12.48 9.97 9.07 4.67
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
42 48 65 69 90 101 123 136 178 183 214 235 226
24 30 43 44 64 67 82 89 110 128 146 175 175
Operating Profit 18 19 22 24 25 34 41 47 68 55 69 60 50
OPM % 43% 39% 34% 36% 28% 34% 33% 35% 38% 30% 32% 26% 22%
0 0 0 1 3 1 0 3 7 6 1 14 17
Interest 3 3 3 6 5 4 4 4 7 7 7 4 5
Depreciation 4 4 4 5 6 6 7 10 12 13 13 17 18
Profit before tax 11 12 14 13 18 25 31 36 57 41 50 54 44
Tax % 32% 37% 37% 31% 26% 23% 26% 36% 28% 25% 31% 26%
Net Profit 8 7 9 9 13 19 23 23 41 31 35 39 32
EPS in Rs 8.95 10.89 11.11 15.99 22.57 27.68 30.12 48.87 34.29 40.47 46.22 36.19
Dividend Payout % 24% 7% 18% 18% 19% 18% 19% 33% 23% 19% 25% 22%
Compounded Sales Growth
10 Years: 17%
5 Years: 14%
3 Years: 10%
TTM: -4%
Compounded Profit Growth
10 Years: 18%
5 Years: 11%
3 Years: -1%
TTM: -28%
Stock Price CAGR
10 Years: 37%
5 Years: 13%
3 Years: 5%
1 Year: -18%
Return on Equity
10 Years: 18%
5 Years: 18%
3 Years: 16%
Last Year: 16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
5 6 9 9 9 9 9 9 9 9 9 9
Reserves 41 54 59 66 76 93 113 132 169 193 220 251
21 16 32 48 55 59 66 69 90 121 110 228
15 19 24 19 20 25 25 35 32 65 73 74
Total Liabilities 82 95 124 142 160 186 213 244 299 387 411 562
39 39 38 54 60 65 102 110 145 142 133 237
CWIP 0 6 29 21 33 36 21 32 7 74 109 82
Investments 0 0 0 0 0 0 0 0 0 0 0 21
43 50 57 68 68 85 89 102 148 170 169 222
Total Assets 82 95 124 142 160 186 213 244 299 387 411 562

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
5 14 12 9 20 19 35 38 47 37 58 9
-4 -10 -23 -15 -21 -13 -30 -26 -21 -73 -42 -117
-1 -2 10 7 7 -7 2 -11 3 19 -18 112
Net Cash Flow 1 2 -1 2 5 -1 6 1 28 -17 -2 3

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 115 109 85 75 72 95 79 87 67 116 84 86
Inventory Days 1,354 1,351 736 1,145 431 627 376 505 540 834 452 439
Days Payable 200 199 135 145 68 109 84 100 93 261 204 105
Cash Conversion Cycle 1,270 1,261 685 1,074 434 614 371 491 514 690 332 420
Working Capital Days 206 204 137 194 158 188 145 150 153 169 172 204
ROCE % 20% 20% 18% 15% 19% 20% 20% 27% 16% 18% 14%

Shareholding Pattern

Numbers in percentages

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
53.74 53.73 53.73 53.73 53.73 53.73 53.73 53.73 53.73 53.73 53.73 53.73
1.77 1.49 0.59 0.62 0.62 0.63 0.60 0.58 0.68 0.80 0.92 0.72
0.59 0.67 0.11 0.16 0.22 0.22 0.82 0.40 0.01 0.02 0.03 0.04
43.90 44.11 45.56 45.48 45.42 45.42 44.84 45.29 45.58 45.45 45.31 45.51

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