Hikal Ltd

Hikal Ltd offers solutions across the life sciences value chain. They provide world-class active ingredients, intermediates and R&D services to global pharmaceuticals, animal health, biotech, crop protection and specialty chemicals companies.

Pros:
Company is expected to give good quarter
Cons:
Stock is trading at 2.62 times its book value
Company has a low return on equity of 11.85% for last 3 years.

Peer Comparison

Pharmaceuticals >> Pharmaceuticals - Indian - Bulk Drugs
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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018
240.40 289.79 221.23 232.31 250.84 309.57 262.71 292.27 350.63 390.49 325.60 394.84
194.47 230.21 177.64 185.09 202.56 251.48 213.04 238.50 283.77 319.04 264.96 319.64
Operating Profit 45.93 59.58 43.59 47.22 48.28 58.09 49.67 53.77 66.86 71.45 60.64 75.20
OPM % 19.11% 20.56% 19.70% 20.33% 19.25% 18.76% 18.91% 18.40% 19.07% 18.30% 18.62% 19.05%
Other Income 0.79 0.33 0.93 0.85 0.47 1.20 1.58 0.39 0.87 1.62 1.37 0.31
Depreciation 17.02 17.37 17.77 17.18 17.07 17.13 21.26 21.45 21.47 21.41 22.58 23.55
Interest 14.00 13.27 13.20 11.32 13.72 10.04 11.69 13.06 11.90 12.47 16.01 16.42
Profit before tax 15.70 29.27 13.55 19.57 17.96 32.12 18.30 19.65 34.36 39.19 23.42 35.54
Tax 3.29 7.02 2.01 3.25 4.13 3.19 4.98 4.32 11.12 13.85 7.49 11.11
Net Profit 12.41 22.25 11.54 16.32 13.83 28.93 13.32 15.33 23.24 25.34 15.93 24.43

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
233 301 478 536 494 694 660 829 872 926 1,014 1,296 1,462
172 238 348 359 381 503 476 642 689 745 814 1,054 1,187
Operating Profit 61 63 130 177 113 191 185 187 182 181 200 242 274
OPM % 26% 21% 27% 33% 23% 27% 28% 23% 21% 20% 20% 19% 19%
Other Income 5 20 -22 -53 12 -24 -42 34 2 2 1 4 4
Interest 14 12 25 35 41 64 60 68 60 62 48 49 57
Depreciation 15 18 21 33 38 42 49 55 64 67 69 86 89
Profit before tax 36 52 62 56 46 60 33 98 60 53 83 112 133
Tax % 7% 5% 6% -6% 3% 10% 23% 35% 32% 22% 15% 31%
Net Profit 34 50 59 60 44 54 26 64 41 41 71 77 89
EPS in Rs 2.52 4.18 4.78 4.70 3.47 4.26 2.01 5.10 3.15 3.21 5.74 6.27
Dividend Payout % 29% 21% 0% 22% 22% 18% 16% 12% 20% 20% 14% 13%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:15.72%
5 Years:14.44%
3 Years:14.13%
TTM:31.04%
Compounded Profit Growth
10 Years:6.59%
5 Years:4.22%
3 Years:24.00%
TTM:24.55%
Return on Equity
10 Years:17.40%
5 Years:12.34%
3 Years:11.85%
TTM:12.12%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Sep 2018
62 15 16 16 16 16 16 16 16 16 16 16 25
Reserves 136 172 203 272 296 335 327 382 411 443 589 653 678
Borrowings 200 372 482 463 506 507 584 546 547 505 598 635 607
133 110 264 311 269 310 301 333 327 320 224 274 329
Total Liabilities 485 669 965 1,063 1,087 1,168 1,228 1,278 1,302 1,285 1,426 1,578 1,639
193 203 471 562 576 578 661 644 639 623 668 634 674
CWIP 20 109 109 35 51 75 49 61 62 66 63 118 95
Investments 45 60 18 18 18 18 3 3 3 3 4 3 2
227 297 367 447 443 497 515 570 597 592 692 824 868
Total Assets 485 669 965 1,063 1,087 1,168 1,228 1,278 1,302 1,285 1,426 1,578 1,639

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
50 34 103 126 113 137 61 155 102 186 163 139
-58 -126 -132 -68 -71 -62 -28 -23 -43 -64 -103 -110
-20 87 35 -54 -47 -78 -27 -124 -69 -124 -63 -25
Net Cash Flow -29 -6 6 4 -5 -4 7 7 -10 -2 -2 4