Hester Biosciences posts Q3 numbers, net profit up 22%

Hester Biosciences, a manufacturer of poultry vaccines and animal vaccines and trader of animal health products, has posted its Q3 FY17 earnings on January 19, 2017.

Jan 19, 2017 11:01 IST India Infoline News Service

Hester Biosciences Ltd, a manufacturer of poultry vaccines and animal vaccines and trader of animal health products, has posted its Q3 FY17 earnings on January 19, 2017. Company has posted net sales of Rs 85.5 crore as against net sales of Rs 24.2 crore, registering an increase of 18% yoy. Company’s export sales are lower than expected and will remain low in the Q4 too.
 
However, higher domestic sales will offset slow growth in exports and thereby help achieve FY17 targets. This will be driven by sales of its newly launched Brucella vaccine for cattle, which has a huge demand in both the markets.
 
Company’s net profit has come in at Rs 5.8 crore as against Rs 4.8 crore, registering 22% yoy growth. Company’s margins have improved due to continuous focus on credit control, inventory management and better product mix.
 
Stock View:
 
Hester Biosciences Ltd is closed at Rs 755.85, up by Rs 18.5 or 2.51% from its previous closing of Rs 737.35 on the BSE.
 
The scrip opened at Rs 746 and has touched a high and low of Rs 763 and Rs 734.5 respectively. So far 63671(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 627.25 crore.
 
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 825 on 29-Jul-2016 and a 52 week low of Rs 337 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs 742.85 and Rs 725 respectively.
 
The promoters holding in the company stood at 54.07 % while Institutions and Non-Institutions held 1.83 % and 44.1 % respectively.
 
The stock is currently trading above its 100 DMA.

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