Hikal PAT for 4th quarter increased by 32.3% at
Rs. 19.99 crore
Hikal declares dividend of 80%
Hikal Sales at Rs. 536 crore up 12.1%   

Mumbai, 30th April 2010:- Hikal Ltd., the preferred long-term outsourcing partner for leading global life sciences companies, today announced its financial results for the quarter and year ended 31 March 2010.

Performance highlights for the quarter ended 31st March 2010

Net sales - Up by 10.9% to Rs.163.81 crore as compared to Rs.147.71 crore in the corresponding quarter of the previous year

PAT - Increased by 32.3% to Rs.19.99 crore as compared to Rs.15.10 crore in the corresponding quarter of the previous year

EBIDTA – up by 8% to Rs. 44.93 crore as compared to Rs. 41.56 crore in the corresponding quarter of the previous year

Pharmaceutical Sales - Up by 25% to Rs.105.69 crore as compared to Rs.84.44 crore in the corresponding quarter of the previous year.

Crop Protection Sales - Down by 8% to Rs.58.11 crore as compared to Rs.63.27 crore in the corresponding quarter of the previous year.

Dividend – The Board has declared an interim dividend of 40% and recommended final dividend of 80% including interim dividend.

Performance Highlights for the year ended 31st March 2010

Net sales - Up by 12.1% to Rs.536 crore as compared to Rs.478 crore in the previous year

PAT– Increased by 2.2% to Rs.60.17 crore as compared to Rs.58.89 crore in the previous year

EBIDTA – Up by 35% to Rs. 179.02 crore as compared to Rs. 132.58 crore in the previous year

Pharmaceutical Sales - Up by 29.4% to Rs.356.96 crore as compared to Rs.275.93 crore in the previous year

Crop protection sales - Down by 11.4% to Rs.179.05 crore as compared to Rs.202.07 crore

Dividend - The Board has declared an interim dividend of 40% and recommended final dividend of 80% including interim dividend.

Commenting on the results, Jai Hiremath, Vice Chairman & Managing Director, Hikal Ltd., said, “We have finished the year with a growth of 12%, which is driven primarily by our pharmaceutical business. FY 2009 has been a challenging year with a slew of M&A transactions, tighter credit conditions and destocking of inventory. Despite these conditions our company has managed to increase its sales and profit margins.  The company registered a significant profit of Rs. 88 crore before the reversal of cash flow hedge reserve." 

He further added “Effective cost management measures coupled with increase in production volumes of our products has helped us boost our EBIDTA margin. Our net worth has increased by Rs. 85 crore in the last financial year from Rs.329.7 crore to Rs.415.2 crore.  Going into FY 2010 we see an increase in sales and profitability in both divisions.”

Final dividend

Hikal today recommended a final dividend of 80% on equity shares for the year ended March 2010 including an interim dividend of 40%. The Board of Directors has also approved the audited accounts for the financial year ended 31st March 2010.

About Hikal Ltd.

Hikal is a reliable long-term outsourcing partner to companies in the Pharmaceuticals, Crop protection Products, and Specialty Chemicals industry. The company has been supplying key active ingredients (AI), API’s and intermediates, manufactured using stringent global quality standards, for its customers in the United States, Europe and Japan. Hikal’s advanced manufacturing facilities have been inspected and approved by leading global players in Crop protection and Pharmaceutical sectors. The crop protection facilities are located at Taloja and Mahad (Maharashtra). Hikal’s manufacturing activities are supported by state-of-the-art research centres and pilot plant facilities located at Bangalore and Taloja respectively. The API and pharmaceutical intermediates manufacturing facilities are situated in Jigani (Bangalore) and Panoli (Gujarat), respectively. Hikal has also commissioned Acoris Research Ltd., a state-of-the-art contract research facility at the International Biotech Park, Pune. 

For further information contact:
Hikal Ltd. - Ms. Sangeeta Salian @ 022 3097 3120, Email - sangeeta_salian@hikal.com
CMCG India – Ms. Rupali Ghadge @ 022 2445 0991, Email rupali.ghadge@cmcgindia.com