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Hikal zooms over 7% after PAT rises 63% yoy to Rs44cr in Q2

Shutdown of the Mahad facility for 27 days in Q2 FY22 due to heavy rains led to a substantial impact on the revenue & profitability.

October 27, 2021 10:08 IST | India Infoline News Service
Hikal
Hikal Ltd, a preferred long-term partner for leading global life sciences companies has announced its financial results for the quarter and half year ended September 30, 2021.

Q2FY22 Highlights
  • Revenue of Rs469cr; yoy growth of 26%
  • EBITDA of Rs91cr; yoy growth of 30%
  • EBITDA Margin of 19.4%; Expansion of 62 bps
  • PAT of Rs44cr; yoy growth of 63%
Key Highlights
  • Higher sales of existing products and addition of new products vs Q2 FY21
  • Strong performance in both own products as well as CDMO segment
  • Hikal transformational journey with a global consultant is on track
  • Steady improvement in EBITDA margins continues, aided by improved product mix and higher operating leverage vs Q2 FY21
  • yoy growth of 63% in PAT driven by Product Mix
  • Lowered interest rates
  • Shutdown of the Mahad facility for 27 days in Q2 FY22 due to heavy rains led to a substantial impact on the revenue & profitability
Commenting on the results, Jai Hiremath, Executive Chairman, Hikal Ltd. said, “Hikal has delivered another quarter of positive performance. From a segmental performance perspective, the Crop Protection business has performed well, registering a positive yoy growth of 105% in Q2 on the back of strong volume growth of our existing products and further scale up of volumes of our new products. We expect this positive momentum to continue in the next few quarters based on a healthy pipeline of products at various stages.

Our Pharmaceutical business remained flat due to a slower offtake by customers in this quarter. This was primarily due to several raw material shortages and global logistics issues. We expect raw material challenges to continue in the next few months and are working with both our suppliers and customers to mitigate the price fluctuations.

Our capex plans and our new product launch plans remain intact for both our divisions. We are seeing tailwinds in terms of new opportunities arising from global supply chain disruptions and the China plus one strategy playing out."

At around 10:07 AM, Hikal was trading at Rs538.50 per piece up by 7.20% on Sensex.

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