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Q2 FY16-17 Results: Recorded Turnover of Rs. 232 crore -

Q2 FY16-17 Results: Recorded Turnover of Rs. 232 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 second ended 30th September 2016.

Performance highlights for the quarter ended 30th September 2016



• Net sales up 14% to Rs. 232 crore as compared to Rs. 204 crore in the corresponding period of the previous year.
• Crop protection sales up 26% to Rs. 88 crore as compared to Rs. 70 crore in the corresponding period of the previous year.
• Pharmaceutical sales up 8% to Rs. 144 crore as compared to Rs. 134 crore in the corresponding period of the previous year.
• EBITDA up 20% to Rs. 47 crore as compared to Rs. 39 crore in the corresponding period of the previous year.
• Profit Before Tax up by 239% to Rs. 19 crore as compared to Rs. 6 crore in the corresponding period of the previous year.
• Net Profit up by 216% to Rs. 15 crore as compared to Rs. 5 crore in the corresponding period of the previous year.

Performance highlights for the half year ended 30th September 2016

• Net sales up 15% to Rs. 454 crore as compared to Rs. 395 crore in the corresponding period of the previous year.
• Crop protection sales up 25% to Rs. 168 crore as compared to Rs. 134 crore in the corresponding period of the previous year.
• Pharmaceutical sales up 9% to Rs. 286 crore as compared to Rs. 262 crore in the corresponding period of the previous year.
• EBITDA up 21% to Rs. 92 crore as compared to Rs. 75 crore in the corresponding period of the previous year.
• Profit Before Tax up by 298% to Rs. 33 crore as compared to Rs. 8 crore in the corresponding period of the previous year.
• Net Profit up by 294% to Rs. 26 crore as compared to Rs. 7 crore in the corresponding period of the previous year.

Commenting on the results, Jai Hiremath, Chairman & Managing Director, Hikal Ltd. said, “Our strong performance has continued in the second quarter. Our Crop Protection business has grown by 26% in sales on higher offtake of existing products and the introduction of some new products. Our Pharmaceutical division increased 8% on better traction with existing customers and products. Our capital expenditure program is on track and we are confident of delivering sustainable growth in the near future. On another positive note, our credit rating has improved from BBB to BBB+, showing improvement in the overall business and strength of our balance sheet.

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 +91-22-3097 3100, Email – anish_swadi@hikal.com
Strategic Growth Advisors Pvt. Ltd. -Payal Dave+91 22 6114 6679 – dpayal@sgapl.net



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