Hester Biosciences Ltd

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

Hester Biosciences Ltd

₹ 1,875 -0.36%
22 May - 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 ₹ 1,595 Cr.
  • Current Price ₹ 1,875
  • High / Low ₹ 2,350 / 1,239
  • Stock P/E 29.8
  • Book Value ₹ 423
  • Dividend Yield 0.37 %
  • ROCE 15.2 %
  • ROE 15.9 %
  • Face Value ₹ 10.0
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Pros

  • Company has been maintaining a healthy dividend payout of 21.8%
  • Company's working capital requirements have reduced from 80.2 days to 54.4 days

Cons

  • Stock is trading at 4.43 times its book value
  • The company has delivered a poor sales growth of 9.19% over past five years.
  • Company has a low return on equity of 10.8% over last 3 years.
  • 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.

Peer comparison

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
67 88 70 67 79 82 84 63 82 84 71 77 100
56 73 57 57 63 65 65 58 63 61 59 60 66
Operating Profit 12 14 13 10 16 18 19 5 19 23 12 18 34
OPM % 17% 16% 19% 15% 20% 21% 23% 8% 23% 27% 17% 23% 34%
3 3 6 2 5 2 3 9 -6 3 12 2 2
Interest 1 3 8 2 7 5 6 -4 6 2 2 2 5
Depreciation 5 5 4 4 4 4 4 4 4 4 4 4 6
Profit before tax 8 9 7 6 10 11 12 13 4 20 17 14 25
Tax % 32% 25% 40% 37% 35% 29% 29% 15% 59% 14% 16% 31% 34%
6 7 4 4 6 7 8 11 2 17 14 9 17
EPS in Rs 5.33 6.90 4.81 4.68 5.82 7.45 9.64 13.71 1.52 19.33 16.99 10.31 18.78
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
90 101 123 136 178 183 214 235 266 305 311 333
64 67 82 89 110 128 146 175 215 251 250 246
Operating Profit 25 34 41 47 68 55 69 60 51 54 62 87
OPM % 28% 34% 33% 35% 38% 30% 32% 26% 19% 18% 20% 26%
3 1 0 3 7 6 1 14 20 15 8 19
Interest 5 4 4 4 7 7 7 4 9 20 13 11
Depreciation 6 6 7 10 12 13 13 17 21 17 17 19
Profit before tax 18 25 31 36 57 41 50 54 40 32 40 76
Tax % 26% 23% 26% 36% 28% 25% 31% 26% 30% 34% 27% 24%
13 19 23 23 41 31 35 39 28 21 29 57
EPS in Rs 15.99 22.57 27.68 30.12 48.87 34.29 40.47 46.22 31.30 22.21 32.31 65.41
Dividend Payout % 19% 18% 19% 33% 23% 19% 25% 22% 26% 27% 22% 17%
Compounded Sales Growth
10 Years: 13%
5 Years: 9%
3 Years: 8%
TTM: 7%
Compounded Profit Growth
10 Years: 11%
5 Years: 8%
3 Years: 26%
TTM: 92%
Stock Price CAGR
10 Years: 11%
5 Years: -7%
3 Years: 4%
1 Year: 5%
Return on Equity
10 Years: 14%
5 Years: 12%
3 Years: 11%
Last Year: 16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 93 113 132 169 193 220 251 271 283 306 352
55 59 66 69 90 121 110 228 274 244 213 195
20 25 25 35 32 65 73 74 116 126 126 123
Total Liabilities 160 186 213 244 299 387 411 562 670 662 653 678
60 65 102 110 145 142 133 237 259 240 233 421
CWIP 33 36 21 32 7 74 109 82 149 171 183 0
Investments 0 0 0 0 0 0 0 21 25 30 34 43
68 85 89 102 148 170 169 222 237 221 203 215
Total Assets 160 186 213 244 299 387 411 562 670 662 653 678

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

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 35 38 47 37 58 9 24 48 65 64
-21 -13 -30 -26 -21 -73 -42 -117 -77 -22 -20 -3
7 -7 2 -11 3 19 -18 112 42 -26 -52 -49
Net Cash Flow 5 -1 6 1 28 -17 -2 3 -12 -0 -7 12
Free Cash Flow 1 5 5 15 24 -36 17 -87 -54 24 44 47
CFO/OP 100% 74% 102% 100% 92% 86% 105% 43% 63% 112% 123% 90%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 87 67 116 84 86 109 94 86 105
Inventory Days 431 627 376 505 540 834 452 424 399 288 291 323
Days Payable 68 109 84 100 93 261 204 101 141 98 122 110
Cash Conversion Cycle 434 614 371 491 514 690 332 409 367 284 255 318
Working Capital Days 76 112 90 82 106 104 134 113 88 112 74 54
ROCE % 15% 19% 19% 20% 26% 16% 18% 14% 9% 9% 10% 15%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Total Employee Count
Number

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Number of Health Products Portfolio
Number
Number of Single and Combination Vaccines Portfolio
Number
Installed Vaccine Production Capacity - India
Billion Doses ・Standalone data
Installed Vaccine Production Capacity - Africa (Tanzania)
Billion Doses ・Standalone data
Installed Vaccine Production Capacity - Nepal
Billion Doses ・Standalone data
Number of Distributors
Number
Market Share - Poultry Vaccines (India)
% ・Standalone data
Market Share - Goat Pox Vaccine (India)
% ・Standalone data
Market Share - PPR Vaccine (Global)
%
R&D Expenditure (Percentage of Turnover)
% ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 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%
0.45% 0.42% 0.43% 0.43% 0.52% 0.61% 0.59% 0.87% 0.51% 0.53% 0.52% 0.38%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.02% 0.02% 0.02% 0.00% 0.01% 0.00%
45.82% 45.84% 45.83% 45.84% 45.74% 45.66% 45.65% 45.38% 45.73% 45.73% 45.75% 45.88%
No. of Shareholders 12,98413,34213,45012,84411,30511,53811,47311,85311,81012,26012,60312,373

* 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

Announcements

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Credit ratings

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