Hester Biosciences hits 10% upper circuit after Q1 PAT rises 60% yoy

Domestic sales have registered a growth of 61% in Q1 FY22.

Aug 12, 2021 02:08 IST India Infoline News Service

Hester Biosciences
Hester Biosciences Limited has announced the financial results for the first quarter of FY 2021-22. The Company achieved an improved operational and financial performance in Q1 FY22 as compared to the corresponding quarter of FY21.

According to the company, the market and economic recovery has supported well for the growth of the poultry and animal industry and is expected to continue in the coming period.

The company is constantly investing in the geographical market expansion and marketing manpower to achieve the budgeted topline.

Financial Highlights (Standalone)
  • During Q1 FY22, the overall topline grew by 50%, compared to Q1 FY21 which was affected by a nationwide lockdown during the initial period of the pandemic.
  • Overall, the sales of Vaccines have registered a growth of 41% in Q1 FY22, and the sale of Health Products have registered a growth of 94% in Q1 FY22.
  • Domestic sales have registered a growth of 61% in Q1 FY22. The opening up of the domestic market has resulted in the higher demand of the products.
  • Export sales have registered a marginal de-growth of 8% in Q1 FY22. Export orders are affected due to restricted cargo movements globally.
  • Revenue from operations rises 50% yoy at Rs58.5cr and net profit increases 60% yoy at Rs12.2cr.
Other developments
  • The development of Classical Swine Fever Vaccine, Lumpy Skin Disease Vaccine and Sheep Pox Vaccine is going as per the timeline and the commercial production is expected by the end of Q3FY22.
  • The newly introduced range of herbal products is performing well and has started contributing on the topline.
  • The company is foreseeing the poultry and animal health business to grow at a faster rate than earlier due to introductions of new products, constant improvements in product mix and horizontal expansion of markets.
  • Various capacity expansion plans for live and inactivated vaccines in poultry and animal healthcare are underway at the Kadi plant and the commercial production is expected in the next financial year.
At around 2:30 PM, Hester Biosciences Ltd is currently trading at Rs2,415.55 apiece up by 9.71% on Sensex.

Related Story

Open Free Demat Account (Rs699)