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Earnings Call

Hikal Earnings Call: Key Takeaways

Hikal is navigating a difficult recovery phase, masked by a massive ₹47cr impairment and USFDA warning letter at Bangalore. While margins show sequential improvement, the core business remains stagnant and heavily reliant on regulatory resolution.

Why this was an Alfa AlertNot a filter event. Company reported flat to negative growth over three years and missed prior guidance.
Highlights
Revenue growthFY26 revenue stagnant at ₹1,713cr; Q4 revenue ₹519cr.
MarginsSequential EBITDA margin improvement to 20.3% in Q4.
Order bookOrder book intact; healthy RFP activity in CDMO segments.
Demand visibilityImproving demand trends in Pharma; Crop Protection seeing inventory normalization.
Management confidenceCautiously optimistic but defensive regarding USFDA and previous guidance misses.

Growth

FY26 revenue of ₹1,713cr shows long-term stagnation; Q4 EBITDA margins improved to 20.3% sequentially.

Outlook

Targeting 5-6 DMF filings annually; FY27 guidance deferred to Q1 results due to geopolitical uncertainty.

Risks

USFDA warning letter at Bangalore site; high raw material volatility; major asset impairment at Panoli.

Source

Earnings Call filed with BSE, NSE: HIKAL. Summary written with AI assistance from the document.

Read the document ↗

Hikal Ltd: key numbers

Share price
₹224.52
Market cap
₹2,768 Cr
Revenue (annual)
₹1,713 Cr
Net profit (annual)
₹-48.80 Cr
P/E (TTM)
-553.7×Sector 43.8×
Promoter holding
68.85%+0.00% QoQ
FII holding
1.28%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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08:07 IST BSE
Regulatory Approval

Hikal Regulatory Approval

Hikal's Bengaluru API facility received a Swissmedic GMP Certificate of Compliance. The certification supports wider access to European and other regulated markets.