Hester Biosciences sees healthy growth; Q1FY17 net profit up 29%

The company reported a net sales of INR 301.32 Million in Q1FY17 as compared to INR 245.29 Million for the previous corresponding period, thereby registering a growth of 23%.

Jul 29, 2016 05:07 IST India Infoline News Service

Hester Biosciences has reported a Net Sales of INR 301.32 Million in Q1FY17 as compared to INR 245.29 Million for the previous corresponding period, thereby registering a growth of 23%. The company's net profit for Q1FY17 is recorded at INR 59.99 Million as against INR 46.63 Million for the previous corresponding period, thereby registering a growth of 29%.

Earnings per Share for the Q1FY17 are at INR 7.05 as against INR 5.48 for Q1FY16. Net Profit margin for Q1FY17 is 19.91% of sales as against 19.01% in Q1 FY 16.

Business Overview
  • The growth drivers continue to be inventory management, credit controls and product mix.
  • The installation of a solar power generation project for 100KW has contributed towards reduction in energy costs up to INR 0.30 million in the first quarter.
  • The sales in the poultry divisions grew by 19% while the Large Animal divisions have shown a growth of 41%.
  • The company got the manufacturing license for 3 poultry vaccines during the quarter; with this company’s product portfolio has grown to 49 vaccines and 35 health products.
  • Domestic sales grew by 21% while exports grew by 14%.
Stock price:
Hester Biosciences Ltd is currently trading at Rs. 794.35, up by Rs. 12.7 or 1.62% from its previous closing of Rs. 781.65 on the BSE.
The scrip opened at Rs. 791.7 and has touched a high and low of Rs. 825 and Rs. 788 respectively. So far 33508(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 664.94 crore.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 823.9 on 22-Jun-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. 803.45 and Rs. 721.9 respectively.
The promoters holding in the company stood at 54.07 % while Institutions and Non-Institutions held 1.51 % and 44.42 % respectively.
The stock is currently trading above its 50 DMA.

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