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Turnover for 9M FY 2015 up by 9% to Rs. 658 crores -


Turnover for 9M FY 2015 up by 9% to Rs. 658 crores

 

Mumbai, January 29, 2015: Hikal Ltd, a preferred long-term partner for leading global life sciences companies, announced its unauditedresults for the period ending 31st December 2014.

 

Performance highlights for the3 months ended 31st December 2014

 

•   Net sales up by 4% to Rs. 225 crores as compared to Rs. 216 crores in the corresponding period of the previous year.

•   Pharmaceutical sales up by 21% to Rs. 137 crores as compared to Rs. 113 crores in the corresponding period of the previous year.

•   Crop protection sales down by 14% to Rs. 88 crores as compared to Rs. 103 crores in the corresponding period of the previous year.

•  EBITDA up by 3% to Rs. 48 crores as compared to Rs.46 crores in the corresponding period of the previous year.

•   Net Profit was down by 9% at Rs. 9 crores as compared to Rs.10 crores in the corresponding period of the previous year.
 

Performance highlights for the 9 months ended 31st December 2014

 

•   Net sales up by 9% to Rs. 658 crores as compared to Rs. 602 crores in the corresponding period of the previous year.
•   Pharmaceutical sales up by 9% to Rs. 399 crores as compared to Rs. 367 crores in the corresponding period of the previous year.
•   Crop protection sales up by 11% to Rs. 260 crores as compared to Rs. 235 crores in the corresponding period of the previous year.

•    EBITDA was lower by 7% to Rs. 138 crores as compared to Rs. 147 crores in the corresponding period of the previous year.

•   Adjusted Net Profit was lower by 14% at Rs. 30 crores as compared to Rs. 35.32 crores adjusted for an exceptional income of Rs. 25.7 crores (net of taxes) from the sale of shares pertaining to the ESOP trust.

 

Commenting on the results, Jai Hiremath, Chairman & Managing Director, Hikal Ltd. said, “Our revenues for nine months are up by9% to Rs. 658 crores. Both our Crop Protection and Pharmaceuticals divisions showed volume growth, however, due tolower prices the margins have decreased.We expect improved results for the next quarter.”

 

About Hikal:

 

Hikal is a reliable long-term 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, manufactured using stringent global quality standards, for its global customers. Hikal’s advanced 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). Hikal’s R&D facilities are located at Pune. The Pharmaceutical manufacturing facilities are situated in Jigani (Bangalore) and Panoli (Gujarat).

 

Safe harbor Statement:

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential product characteristics and uses, product sales potential and target dates for product launch are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances  Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors.

 

Hikal Ltd. – Anish Swadi @+91-22-30973100, Email – anish_swadi@hikal.com

Strategic Growth Advisors Pvt. Ltd. -Payal Dave@+912261146679 – dpayal@sgapl.net



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