Q1 FY16-17 Results: Recorded Turnover of Rs. 221 crore
Mumbai, May 6, 2016: Hikal Ltd, a preferred long-term partner for leading global life sciences companies, announced its financial results for the first quarter ended 30th June 2016.
Performance highlights for the quarter ended 30th June 2016
• Net sales up 16% to Rs. 221 crore as compared to Rs. 191 crore in the corresponding period of the previous year.
• Crop protection sales up 25% to Rs. 79 crore as compared to Rs. 63 crore in the corresponding period of the previous year.
• Pharmaceutical sales up 11% to Rs. 142 crore as compared to Rs. 128 crore in the corresponding period of the previous year.
• EBITDA up 22% to Rs. 44 crore as compared to Rs. 36 crore in the corresponding period of the previous year.
• Profit Before Tax and Exchange Losses up by 79% to Rs. 16 crore as compared to Rs. 9 crore in the corresponding period of the previous year.
• Net Profit up by 490% to Rs. 11 crore as compared to Rs. 2 crore in the corresponding period of the previous year.
Commenting on the results, Jai Hiremath, Chairman & Managing Director, Hikal Ltd. said, “We are off to a good start in Q1. Both our divisions have done well. Our Crop Protection business recorded a 25% growth in sales on higher offtake of our existing and new products. Our Pharmaceutical division grew by 11%, on higher volumes of existing products. We continue to invest in debottlenecking our existing facilities while building multipurpose plants for our new projects which are expected to come on stream in the next 12 – 18 months. Our investments in R&D will yield benefits through introduction of new products. We are on track to deliver sustainable growth for FY 16’17.
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).
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