FY17 Audited Financial Results
Net Sales crosses Rs. 1,000 Crore
EBITDA of Rs. 197 Crore; Margin of 20%
FY17 Audited Financial Results
PAT of Rs. 67 Crore; Growth of 62%
Total Dividend of Rs. 1.2/‐ per share (60% of FV); including 30% interim dividend
Mumbai, May 10th, 2017: Hikal Ltd, a preferred long‐term partner for leading global life sciences companies, announced its financial results for the quarter & year ended 31st March, 2017.
Highlights for Year End 31st March, 2017
Performance highlights for the year ended 31st March, 2017
· Net sales up 9.5% to Rs. 1013.9 crore as compared to Rs. 925.7 crore in the corresponding period of the previous year
· EBITDA up 9.1% to Rs. 197.4 crore as compared to Rs. 180.9 crore in the corresponding period of the previous year
· Net Profit up 61.7% to Rs. 66.8 crore as compared to Rs. 41.3 crore in the corresponding period of the previous year
Segmental Performance for the year ended 31st March, 2017
· Crop Protection sales up 14.6% to Rs. 408.7 crore as compared to Rs. 356.5 crore in the corresponding period of the previous year
· Pharmaceutical sales up 6.3% to Rs. 605.2 crore as compared to Rs. 569.1 crore in the corresponding period of the previous year
Highlights for Quarter End 31st March, 2017
Performance highlights for the Quarter ended 31st March, 2017
· Net sales up 6.8% to Rs. 309.6 crore as compared to Rs. 289.8 crore in the corresponding period of the previous year
· EBITDA down 4.3% to Rs. 57 crore as compared to Rs. 59.6 crore in the corresponding period of the previous year
· Net Profit up 23.3% to Rs. 27.4 crore as compared to Rs. 22.3 crore in the corresponding period of the previous year
Segmental Performance for the Quarter ended 31st March, 2017
· Crop Protection sales up 10.3% to Rs. 133.2 crore as compared to Rs. 120.8 crore in the corresponding period of the previous year
· Pharmaceutical sales up 4.4% to Rs. 176.4 crore as compared to Rs. 169 crore in the corresponding period of the previous year
Commenting on the results, Jai Hiremath, Chairman & Managing Director, Hikal Ltd. said,
“We have achieved a significant milestone in our company by crossing Rs. 1,000 Crores in revenues during FY17, with a Net Profit of Rs. 67 Crores, representing a substantial growth of 62%. Our Crop Protection Division has clocked a revenue growth of 15% whereas the Pharmaceutical Division has grown by 6%.
Based on our performance, the Board of Directors had declared 30% as an Interim Dividend and recommended a Final Dividend of 30% on equity shares for the year ended March 2017, subject to shareholder’s approval, which would make the total dividend for the year, 60%.
We are delighted with the outcome of the recent US FDA inspection which resulted in Zero 483’s at our primary API manufacturing facility at Bengaluru. This is a strong testament to our continuous focus on Regulatory Compliance, Quality and Integrity of operations.
As part of our continued efforts to strengthen the balance sheet, we have divested our property in Bengaluru which was lying vacant and the sale proceeds have been transferred to reserves, thereby further improving the cash flow and financial metrics of the company. The Debt to Equity Ratio has also come down to 0.75 from 0.83 the year before, signifying a healthier operating leverage.
Increased demand from our Customers along with the launch of several new products has set a positive trend for the years to come. We are focused on our growth and will continue to make investments for the future growth in both our divisions. Based on the current demand of our Customers, we expect business to improve in both the Pharmaceutical and Crop Protection divisions.”
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&T facilities are located at Pune. The Pharmaceutical manufacturing facilities are situated in Jigani (Bengaluru) and Panoli (Gujarat). Hikal is the first Indian life-sciences company to receive the Responsible Care® certification governed by the International Council of Chemical Associations (ICCA).
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.
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