Connect with:
Sunday / May 26. 2024
HomeAgribusinessHester Biosciences reports Consolidated Revenue growth of 18% at Rs 79.3 Cr

Hester Biosciences reports Consolidated Revenue growth of 18% at Rs 79.3 Cr

Net Profit of the company for Q4FY24 was up 12 per cent to Rs. 6.40 crore as compared to the net profit of Rs. 5.71 crore in Q4 FY23.

Ahmedabad based Hester Biosciences Limited, one of India’s leading animal health company, manufacturing vaccines and health products has reported consolidated revenue from operations of Rs 79.26 crore for the Q4FY24, growth of 18 per cent Y-o-Y from revenue of Rs. 67.30 crore in Q4FY23. Operating profit during the quarter ended March 2024 was reported at Rs. 16.40 crore, 37 per cent growth Y-o-Y from Rs. 11.97 crore in Q4FY23. Net Profit of the company for Q4FY24 was up 12 per cent to Rs. 6.40 crore as compared to the net profit of Rs. 5.71 crore in Q4 FY23. Company has recommended dividend of Rs. 6 per equity share of Rs. 10 each (60 per cent) for the financial year 2023-24, subject to approval of members at the ensuing Annual General Meeting. Consolidated results include operations of subsidiaries from Nepal and Tanzania.

Animal Healthcare Division

In Q4 FY24, the Animal Healthcare division experienced a growth which is attributed to:

1.  Consistent sales of the Goat Pox vaccine, supporting the preventive vaccination program against the Lumpy Skin Disease in Cattle, and continued supplies of the PPR vaccine for Sheep and Goat for the Government of India’s National Immunisation Programs.

2.Along with vaccines, health product sales experienced a growth as well. It is worth noting, this growth is achieved even after the discontinuation of two products, CurX Injection and iSumovet, totaling to a loss of sales in response to new drug regulations prohibiting the use of Ketoprofen for animal treatment. This growth reflects the division’s resilience and ability to adapt and pick the momentum back, despite of challenges which are not under our control.

Poultry Healthcare Division

In Q4 FY24, the Poultry Healthcare division achieved a commendable growth of 22 per cent.

1.This growth trajectory has been consistent throughout the year, with each quarter surpassing the previous in terms of sales performance. Hence, from an annual perspective, the division has demonstrated improved sales compared to the previous years.

2.This turnaround can be attributed to – recouping of the Poultry Industry, the introduction of diverse products to meet the evolving needs of poultry farmers and further capitalising that existing market opportunities.

Petcare Division

In Q4 FY24, the Petcare division experienced a marginal sales dip of ₹0.18 crore compared to the previous quarter. However, considering the cumulative performance for FY24, the division achieved a growth of 49%, reaching sales of Rs 2.64 crore. This growth reflects the culmination of substantial efforts in building a robust foundation, implementing best practices, and delivering high-quality products.

Way Forward

Animal Healthcare

· Anticipating double digit growth in the dairy sector, we aim to capitalise on this trend by expanding our product offerings.

· The small ruminant marketing will also be seeing a growth and we shall be expanding our presence further in this segment.

· We will be introducing 6 new specialised products to meet the evolving needs of the growing market and address the customer needs as well as expand our product portfolio.

Poultry Healthcare

· With the poultry industry stabilising, we foresee growth opportunities driven by increasing demand for poultry products.

· With our focus on innovation, we have acquired technology to develop a modified version of the Infectious Bursal Disease (IBD) vaccine, enhancing protection and safety for chickens.

· We are expanding our poultry division’s product basket by introducing feed supplements, aiming to enrich our offerings and strengthen our market position.

Petcare

· We anticipate reaping the benefits of our critical backend activities in the upcoming year.

· With an expected rise in the pet adoption, we are prepared to capture the market share and meet the evolving needs of pet owners.

· We will introduce new products in therapeutic, supplement and prescription pet food diet segments, distinguishing ourselves and our offerings in the market.

No comments

leave a comment