ALFA Finder| Margins | EBITDA margin at 9.2%; expected sequential improvement. |
|---|---|
| Demand visibility | Subdued CDMO demand; improving domestic demand in Crop segment. |
| Management confidence | Confident in stepwise recovery of revenue and profitability. |
Growth
Pharma grew 15.2% YoY to ₹233 Cr; Crop Protection revenue declined 4.5% YoY to ₹170 Cr.
Outlook
Expect stepwise recovery in revenues and profitability. Commissioned Panoli facility; US FDA reinspection expected in FY27.
Risks
Regulatory remediation slows Pharma; geopolitical costs and inventory adjustments impact Crop Protection margins.
Last quarter's promises, checked
Delivered
- Guided sequential recovery from H1 soft phase → Q4 EBITDA margin 20.3% vs 12.9% FY avg (= BEAT)
- Guided debt reduction → Debt-to-equity ratio reduced from 0.59 to 0.56 (= BEAT)
- Guided Panoli pilot plant operationalization → Plant operational and supporting complex chemistries (= BEAT)
Partly delivered
- Guided 5-6 DMF filings annually → Increased depth but Bangalore site slowdown impacted timelines (= PARTIAL)
- Guided US FDA remediation completion → CAPAs nearing completion but reinspection pending (= PARTIAL)
Missed
- Guided 10% Pharma growth for FY26 → FY26 Pharma revenue ₹1,021 Cr vs ₹1,080 Cr FY25 (= MISS)
- Guided flat Crop revenue for FY26 → FY26 Crop revenue ₹692 Cr vs ₹732 Cr FY25 (= MISS)
Investor Presentation filed with BSE, NSE: HIKAL. Summary written with AI assistance from 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.
More from Hikal Ltd
All →Hikal Earnings Call Transcript: Key Takeaways
Q2 revenue ₹434 Cr, EBITDA ₹45 Cr (10.3%), PAT loss ₹6 Cr. H2 recovery claimed without a quantified bridge; FY guidance reiterated despite H1 loss.
Hikal Investor Presentation: Key Takeaways
Q2FY27 consolidated revenue ₹434 Cr (+36% YoY), EBITDA ₹45 Cr at 10.3% margin, PAT loss narrowed to ₹(6) Cr. Pharma led recovery; Crop Protection margins pressured.
Hikal Results Update
Hikal Ltd reported Q2 FY27 revenue of ₹434 Crore and an EBITDA of ₹45 Crore. The company also announced the commencement of commercial production for Personal Care at its Panoli facility.
- Value
- ₹434.0 Cr
Hikal Q2 FY27 Results: Net Loss of ₹6.1 Cr, Loss Narrows
Hikal Ltd reported revenue from operations of ₹434.2 Cr (+36.3% YoY) and a net loss of ₹6.1 Cr for Q2 FY27.
- Key figure
- Net loss ₹6.1 Cr
Hikal Bags New Order from Europe-based global agrochemical company
Hikal signed a multi-year CDMO contract with a Europe-based global agrochemical company for a specialised product. Commercial launch is expected towards the end of FY 2026-27.
- From
- Europe-based global agrochemical company (unnamed)
- Execution
- Multi-year
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.