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Saturday / January 11. 2025
HomePosts Tagged "Hikal Limited"

In Q4 FY24 company’s crop protection business reported revenue of Rs 177 crore and EBIT of Rs 14 crore.

Hikal Ltd., a preferred long-term partner for leading global life sciences companies, announced its financial results for the quarter and full year ended 31st March 2024. In FY 2024 company reported revenue of Rs. 1,785 crores while EBITDA stood at Rs 267 crores. Company’s Profit After Tax stood at Rs 70 crores. Crop Protection sales stood at Rs 177 crores as compared to Rs. 180 crores in Q3 FY24.

Commenting on the results, Jai Hiremath, Executive Chairman, Hikal Ltd. said, “For the financial year ’24, we achieved revenues of Rs 1,785 Crores as compared to Rs 2,023 Crores last year. FY24 was marred with several global macroeconomic pressures and depressed market conditions for the global chemical sector on account of inventory build-up and overcapacity across the sector resulting in intense price competition from China predominantly in the Crop Protection market.

In our CDMO segment we have received several RFPs from both emerging pharma and global innovators, with several products progressing through the development stages. We have a healthy pipeline of projects in the early to mid-phase that is encouraging. During FY24, our API facility in Panoli, Gujarat, was audited by the US FDA, and the audit was concluded with ‘Zero’ 483 observations as a testament of our commitment to high standards of regulatory compliance.

For Q4FY24, our crop protection business reported revenue of Rs 177 Cr and EBIT of Rs 14 crore. Despite proactive cost improvement initiatives, the global crop protection industry continues to face significant headwinds, including subdued global demand due to inventory in the channel pipeline and intense price erosion from competitors primarily China as a result of large capacity which are under-utilized. We expect the market to stabilise post the end of this financial year and recovery to begin thereafter.

In our animal health business, advancements in developing a portfolio of products under a long-term agreement with an innovator animal health company are proceeding well. During the third quarter, our new multipurpose animal health facility was commissioned at Panoli, Gujarat. Validation of several products is underway, and it is scheduled to be completed in the upcoming quarters. These validation batches mark the initial phase toward product registration and subsequent commercialisation.

In Q4 FY24 company’s crop protection business

Ramachandra Kaundinya is an expert in the field of management, especially in the business of agriculture having corporate experience of about 35 years.

Hikal Limited announced that in the 35th Annual General Meeting of the company held on 26th September2023, the shareholders have approved the appointment of Ramachandra Kaundinya Vinnakota as Independent Director of the company for a period of 5 years with effect from October 1st,2023.

Ramachandra Kaundinya is an expert in the field of management, especially in the business of agriculture. He has a total corporate experience of about 35 years at very senior positions followed by consulting experience of 9 years. He is an author, strategic management consultant, teacher and a policy analyst in India. V. Ramachandra Kaundinya has served on the Boards of Axis Bank, Syngenta India and Axis Finance.

 Ramachandra Kaundinya has served as Chairman of the CropLife India and Agricultural Group of the biotech industry association called ABLE and was the Director of the Association of Seed Industry (ASI). He is currently Director General of Federation of Seed Industry of India. He teaches Agri Business Strategy to Agri MBA students at IIMA. He held Chief Executive Officer positions at Advanta Ltd, Emergent Genetics India and Cyanamid Agro. He served as a senior member of the management team of Hoechst India for 13 years.

Commenting on the approval Jai Hire math, Chairman of Hikal, “We are pleased to welcome Ram Kaundinya, a Crop Protection specialist to the Board of Hikal. Ram has in-depth experience across different sectors and are leading experts in their respective professions. His proficiency and knowledge will really strengthen the Hikal Board.”

Ramachandra Kaundinya is an expert in the

The company has reported total income of Rs 388.99 crores during the period ended June 30, 2023, as compared to Rs 382.06 crores during the period ended June 30, 2022.

Agrochemical major, Hikal Limited has reported Consolidated financial results for the period ended June 30, 2023.The company has reported total income of Rs 388.99 crores during the period ended June 30, 2023, as compared to Rs 545.67 crores during the period ended March 31, 2023.

The company has posted net profit / (loss) of Rs. 6.92 crores for the period ended June 30, 2023 as against net profit / (loss) of Rs 36 crores for the period ended March 31, 2023. The company has reported EPS of Rs. 0.56 for the period ended June 30, 2023 as compared to Rs 2.92 for the period ended March 31, 2023.

Financial Results (Q1 FY2024) – YoY Comparison

The company has reported total income of Rs 388.99 crores during the period ended June 30, 2023, as compared to Rs 382.06 crores during the period ended June 30, 2022. The company has posted net profit / (loss) of Rs 6.92 crores for the period ended June 30, 2023, as against net profit / (loss) of Rs 8.86 crores for the period ended June 30, 2022. The company has reported EPS of Rs.0.56 for the period ended June 30, 2023, as compared to Rs 0.72 for the period ended June 30, 2022.

The company has reported total income of