| Management target | Revenue 15.0% FY27 |
|---|
| Revenue growth | 14-16% guided for FY27. |
|---|---|
| Margins | EBITDA growth of 25-30% expected for FY27. |
| Order book | 8-9 NCE molecules in pipeline; zero lost customer contracts. |
| Demand visibility | Normalizing customer ordering patterns; better visibility in Pharma. |
| Management confidence | High on US FDA remediation and Pharma/Animal Health recovery. |
Growth
Pharma revenue at Rs 233 Cr (EBIT 3.2%); Crop Protection at Rs 170 Cr (EBIT loss Rs 6 Cr).
Outlook
Full-year FY27 growth guided at 14-16% with 25-30% EBITDA growth. Animal Health target Rs 400 Cr+ by FY30.
Risks
Pricing pressure from China in Crop segment; ongoing US FDA remediation costs impacting current EBITDA margins.
Last quarter's promises, checked
Delivered
- Q4 EBITDA Margin 18-20% → delivered 20.3% (= BEAT)
- Debt-to-equity reduction → delivered 0.59 to 0.56 (= BEAT)
- Pharma utilization 75% → delivered 80-85% (= BEAT)
Partly delivered
- US FDA remediation timeline → ongoing CAPA completion (= PARTIAL)
- Animal Health scaling → validation complete, entering commercial phase (= PARTIAL)
Missed
- FY26 Pharma Growth 10% → delivered -1.5% YoY (= MISS)
- FY26 Crop Revenue Flat → delivered -16% YoY (= MISS)
- FY26 EBITDA Margin 18% → delivered 12.9% (= MISS)
Earnings Call Transcript filed with BSE, NSE: HIKAL. Summary written with AI assistance from the document.
Hikal Ltd: key numbers
- Share price
- ₹226.43
- Market cap
- ₹2,792 Cr
- Revenue (annual)
- ₹1,713 Cr
- Net profit (annual)
- ₹-48.80 Cr
- P/E (TTM)
- -82.6×Sector 47.4×
- Promoter holding
- 68.85%+0.00% QoQ
- FII holding
- 0.98%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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- Execution
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