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Q2 FY15-16 Earnings Release -

Q2 FY15-16 Earnings Release
• Net Sales up by 7% QoQ
• Pharmaceutical Sales up by 4%
• Crop Protection Sales up by 11%

Mumbai, October 28, 2015: Hikal Ltd, a preferred long-term partner for leading global life sciences companies, announced its financial results for the second quarter ended 30th September 2015.

Performance highlights for the quarter ended 30th September 2015.

• Net sales up 7% to Rs. 204 crores as compared to Rs.192 crores in the previous quarter. On yoy basis, net sales were down 16% vs. Rs. 243 crores in the corresponding period of the previous year.
• Pharmaceutical sales up 4% to Rs. 134 crores as compared to Rs. 128 crores in the previous quarter. On yoy basis, pharmaceutical sales were down 5% from Rs. 140 crores in the corresponding period of the previous year.
• Crop protection sales up 11% to Rs. 70 crores as compared to Rs. 63 crores in the previous quarter. On yoy basis, crop protection sales were down 31% from Rs. 102 crores in the corresponding period of the previous year.
• EBITDA up 8% to Rs. 39 crores; EBITDA margin of 19.2%. On yoy basis, EBITDA was down 27% from Rs. 54 crores in the corresponding period of the previous year.
• Net Profit was Rs. 9 crores before provision for non-cash exchange loss of Rs. 4 crores on foreign currency working capital loans. Net profit was Rs. 7 crores for the previous quarter and Rs. 18 crores in the corresponding period of the previous year.

Performance highlights for the half year ended 30th September 2015

• Net sales down 9% to Rs. 396 crores as compared to Rs. 433 crores in the corresponding period of the previous year.
• Pharmaceutical sales stood at Rs. 262 crores similar to the corresponding period of the previous year.
• Crop protection sales down 22% to Rs. 134 crores as compared to Rs. 172 crores in the corresponding period of the previous year.
• EBITDA down 16% to Rs. 75 crores with an EBITDA margin of 19.1% as compared to Rs. 90 crores in the corresponding period of the previous year.
• Net Profit was Rs. 12 crores before provision for non-cash exchange loss of Rs. 5 crores on foreign currency working capital loans. Net profit was Rs. 24 crores in the corresponding period of the previous year.

Commenting on the results, Jai Hiremath, Chairman & Managing Director, Hikal Ltd. said, “Our sales and profitability have shown an improvement on a quarter on quarter basis. On a half yearly basis, our sales and profitability were down due to the push back of campaigns for contract manufacturing products from H1 into H2 in the Crop Protection business. We expect the second half of the year to see an increase in sales and profitability for both the crop protection and pharmaceutical division, and the results for the FY 2015’ 16 are expected to be satisfactory.

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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