Hikal Limited sales up 18% in Q1 FY18
Aug. 11, 2017
Highlights for Quarter Ended 30th June, 2017
Performance highlights for the quarter ended 30th June, 2017
· Sales up 18.0% to Rs. 266.7 crore as compared to Rs. 226.0 crore in the corresponding period of the previous year
· EBITDA up 13.9% to Rs. 49.7 crore as compared to Rs. 43.6 crore in the corresponding period of the previous year
· PAT up 15.3% to Rs. 13.3 crore as compared to Rs. 11.5 crore in the corresponding period of the previous year
· Cash Profit up 18.1% to Rs. 34.6 crore as compared to Rs. 29.3 crore in the corresponding period of the previous year
Segmental Performance for the quarter ended 30th June, 2017
· Crop Protection sales up 28.6% to Rs. 105.8 crore as compared to Rs. 82.3 crore in the corresponding period of the previous year
· Pharmaceutical sales up 12.0% to Rs. 160.9 crore as compared to Rs. 143.7 crore in the corresponding period of the previous year
Commenting on the results, Jai Hiremath, Chairman & Managing Director, Hikal Ltd. said,
“We have started this financial year on a positive note with both our divisions reporting growth. Our Revenues and Net Profit for the quarter were 266.7 Crore and 13.3 Crore, representing a growth of 18% and 15% respectively.
The Crop Protection business has grown significantly by 28.6% due to introduction of new products and higher volumes of existing products. Our Pharmaceutical division sales were up by 12.0% on higher sales volumes. The EBITDA Margins has been marginally impacted due to the product mix within the Crop Protection Business. We expect this to improve in the coming quarters.
We are confident that the sales momentum will continue throughout this year for both our 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).