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 ₹ 3,893 Cr.
- Current Price ₹ 316
- High / Low ₹ 331 / 250
- Stock P/E 54.3
- Book Value ₹ 92.9
- Dividend Yield 0.38 %
- ROCE 8.43 %
- ROE 7.08 %
- Face Value ₹ 2.00
Pros
Cons
- Stock is trading at 3.40 times its book value
- The company has delivered a poor sales growth of 9.31% over past five years.
- Company has a low return on equity of 12.5% 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
Sector: Pharmaceuticals Industry: Pharmaceuticals - Indian - Bulk Drugs
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
694 | 660 | 829 | 872 | 926 | 1,014 | 1,296 | 1,590 | 1,507 | 1,720 | 1,943 | 2,023 | 1,816 | |
503 | 476 | 642 | 689 | 745 | 814 | 1,054 | 1,291 | 1,234 | 1,398 | 1,602 | 1,765 | 1,555 | |
Operating Profit | 191 | 185 | 187 | 182 | 181 | 200 | 242 | 298 | 273 | 323 | 341 | 258 | 261 |
OPM % | 27% | 28% | 23% | 21% | 20% | 20% | 19% | 19% | 18% | 19% | 18% | 13% | 14% |
-24 | -42 | 34 | 2 | 2 | 1 | 4 | 2 | -12 | 5 | 5 | 5 | 2 | |
Interest | 64 | 60 | 68 | 60 | 62 | 48 | 49 | 58 | 52 | 36 | 31 | 48 | 54 |
Depreciation | 42 | 49 | 55 | 64 | 67 | 69 | 86 | 93 | 82 | 85 | 96 | 109 | 112 |
Profit before tax | 60 | 33 | 98 | 60 | 53 | 83 | 112 | 149 | 127 | 206 | 219 | 105 | 97 |
Tax % | 10% | 23% | 35% | 32% | 22% | 15% | 31% | 31% | 33% | 36% | 27% | 26% | |
54 | 26 | 64 | 41 | 41 | 71 | 77 | 103 | 84 | 133 | 161 | 78 | 72 | |
EPS in Rs | 4.38 | 2.06 | 5.19 | 3.29 | 3.35 | 5.73 | 6.26 | 8.36 | 6.85 | 10.80 | 13.02 | 6.36 | 5.83 |
Dividend Payout % | 18% | 16% | 12% | 20% | 20% | 14% | 13% | 14% | 18% | 19% | 12% | 19% |
Compounded Sales Growth | |
---|---|
10 Years: | 12% |
5 Years: | 9% |
3 Years: | 10% |
TTM: | -8% |
Compounded Profit Growth | |
---|---|
10 Years: | 2% |
5 Years: | 0% |
3 Years: | -6% |
TTM: | 14% |
Stock Price CAGR | |
---|---|
10 Years: | 17% |
5 Years: | 12% |
3 Years: | 15% |
1 Year: | 9% |
Return on Equity | |
---|---|
10 Years: | 12% |
5 Years: | 13% |
3 Years: | 12% |
Last Year: | 7% |
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 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 25 | 25 | 25 | 25 | 25 | 25 |
Reserves | 443 | 435 | 489 | 517 | 548 | 589 | 653 | 732 | 792 | 909 | 1,043 | 1,109 | 1,121 |
507 | 584 | 546 | 547 | 505 | 598 | 635 | 661 | 646 | 610 | 675 | 748 | 773 | |
173 | 157 | 219 | 212 | 206 | 177 | 237 | 268 | 306 | 370 | 470 | 504 | 472 | |
Total Liabilities | 1,140 | 1,192 | 1,271 | 1,293 | 1,276 | 1,379 | 1,542 | 1,686 | 1,768 | 1,913 | 2,213 | 2,385 | 2,391 |
578 | 661 | 644 | 639 | 623 | 668 | 634 | 713 | 735 | 713 | 879 | 948 | 929 | |
CWIP | 75 | 49 | 61 | 62 | 66 | 63 | 118 | 79 | 161 | 254 | 295 | 412 | 506 |
Investments | 18 | 3 | 3 | 3 | 3 | 4 | 3 | 1 | 1 | 1 | 11 | 5 | 5 |
469 | 480 | 562 | 589 | 584 | 645 | 788 | 893 | 871 | 946 | 1,028 | 1,020 | 950 | |
Total Assets | 1,140 | 1,192 | 1,271 | 1,293 | 1,276 | 1,379 | 1,542 | 1,686 | 1,768 | 1,913 | 2,213 | 2,385 | 2,391 |
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
137 | 61 | 155 | 102 | 186 | 163 | 139 | 186 | 285 | 229 | 294 | 315 | |
-62 | -28 | -23 | -43 | -64 | -103 | -110 | -125 | -164 | -156 | -284 | -292 | |
-78 | -27 | -124 | -69 | -124 | -63 | -25 | -55 | -101 | -97 | -6 | -8 | |
Net Cash Flow | -4 | 7 | 7 | -10 | -2 | -2 | 4 | 6 | 20 | -24 | 4 | 15 |
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 | 52 | 47 | 39 | 54 | 44 | 92 | 81 | 80 | 82 | 103 | 82 | 80 |
Inventory Days | 226 | 359 | 302 | 268 | 229 | 189 | 158 | 156 | 147 | 107 | 121 | 104 |
Days Payable | 134 | 158 | 127 | 117 | 101 | 93 | 86 | 68 | 95 | 92 | 91 | 103 |
Cash Conversion Cycle | 144 | 248 | 214 | 205 | 173 | 188 | 153 | 168 | 135 | 118 | 112 | 81 |
Working Capital Days | 56 | 84 | 95 | 84 | 97 | 126 | 107 | 114 | 90 | 113 | 98 | 86 |
ROCE % | 16% | 14% | 16% | 11% | 11% | 12% | 13% | 15% | 14% | 16% | 15% | 8% |
Documents
Announcements
- Submission Of Certificate Under Regulation 40 (9) Of The SEBI (LODR) Regulations, 2015 17h
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
15 Apr - Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
- Compliance Certificate Under Regulation 7(3) Of SEBI (LODR) Regulations, 2015 15 Apr
- Announcement Under Regulation 30 Of SEBI (LODR) Regulations, 2015 15 Apr
- Announcement Under Regulation 30 Of SEBI (LODR) Regulations, 2015 10 Apr
Annual reports
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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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Financial Year 2010
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Concalls
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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Jun 2023Transcript PPT REC
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Feb 2023Transcript PPT
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Jun 2022Transcript PPT
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Feb 2022TranscriptNotesPPT
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Oct 2021Transcript PPT
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Oct 2019TranscriptPPT
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Nov 2017TranscriptNotesPPT
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Jun 2017TranscriptNotesPPT
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Feb 2016TranscriptNotesPPT
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Feb 2016TranscriptNotesPPT
Business Segments
1. Pharmaceuticals (58% of revenue from operations in FY22) [1]: Active pharmaceutical ingredients (APIs), custom manufacturing, intermediates and advanced intermediates.
2. Crop Protection (42% of revenue from operations in FY22): Active ingredients, advanced intermediates, intermediates. Custom Synthesis and Contract manufacturing of Agrochemicals, Intermediates and Specialty Chemicals.
3. Research & Technology: Process development, new product development, contract and custom development. It gives services to the following Industries: Pharmaceutical (Generics & Custom Manufacturing), Biotech, Animal Healthcare, Crop Protection, Specialty Chemicals and Biocides and Food. [2] [3]