HIKAL LTD. - 524735 - Reg. 34 (1) Annual Report.
Annual Report for the financial year 2022-23 and Notice of 35th Annual General Meeting.01-09-2023
01-09-2023
HIKAL LTD. - 524735 - Announcement under Regulation 30 (LODR)-Newspaper Publication
Announcement under Regulation 30 of SEBI (LODR) Regulations, 2015 - Newspaper advertisement31-08-2023
HIKAL LTD. - 524735 - Announcement under Regulation 30 (LODR)-Change in Directorate
Announcement under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Appointment of Independent Directors16-08-2023
HIKAL LTD. - 524735 - Announcement under Regulation 30 (LODR)-Earnings Call Transcript
Submission of transcript of earnings call for the quarter ended June 30, 2023.14-08-2023
HIKAL LTD. - 524735 - Announcement Under Regulation 30A Of SEBI (LODR) Regulations, 2015
Announcement under Regulation 30A of SEBI (LODR) Regulations, 201510-08-2023
HIKAL LTD. - 524735 - Intimation Under Regulation 30 Of SEBI (LODR) - Earnings Call Audio Recording Q1 FY24
Submission of Earnings call audio recording for Q1 FY2408-08-2023
Hikal Results Earnings Call for Q1FY24
Conference Call with Hikal Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.08-08-2023
Q1FY24 Quarterly Result Announced for Hikal Ltd.
Pharmaceuticals company Hikal announced Q1FY24 results: Revenue stood at Rs 388 crore EBITDA stood at Rs 50 crore, a 122% increase on a YoY basis PAT stood at Rs 7 crore Hikal’s long-term credit rating is maintained at A+ by ICRA Commenting on the results, Jai Hiremath, Executive Chairman, Hikal said, “FY24 has started on a challenging note due to global macro-economic pressures and high channel inventories leading to lower demand across both our businesses. The chemical industry faced difficulties due to China's opening up and depressed market conditions specifically in the Crop Protection end-use markets. For Q1FY24, we reported revenues of Rs 388 crore and EBITDA of Rs 50 crore. During the quarter we witnessed disruptive channel inventory correction across the supply chain in both businesses. We were able to navigate through the market headwinds on the back of improved cost control measures and softening of certain raw materials prices. On July 22, 2023, the company received communication from Gujarat Pollution Control Board (GPCB) directing the company to seize operations within 15 days from the order date citing certain technical violations. The company has responded to the queries raised by the GPCB and the closure notice has been revoked. There has been no interruption in production and operations at the site, which continues to operate as normal. We are deeply committed to upholding the principles of responsible care and sustainable business practices. For Q1FY24, our pharmaceutical business reported revenues of Rs 225 crore. In the pharmaceutical industry, we witnessed softening of raw material prices at the same time competitive pricing environment. On the Generics side, sales have stabilized, and the inventory is expected to normalize by the end of next quarter. We expect that the off-take will return to normalcy in the second half of this financial year. We have strengthened our sales network in geographies like Latin America, the Middle East, and Japan. On the CDMO front, we continue to have a strong future pipeline and are aggressively capitalizing on new opportunities. During the quarter, our API facility in Panoli, Gujarat, was audited by the US FDA, and the audit was concluded with ‘Zero’ 483 observations as a testament to our commitment to high standards of regulatory compliance. Our crop protection business reported revenue of Rs 163 crore for Q1FY24. The global agrochemical industry has been going through a challenging phase over the last several quarters as end customers are destocking amid high channel inventories. The market is witnessing pricing pressure given the higher base of the previous year and very aggressive price competition from the Chinese companies. We are experiencing a decline in the prices of certain products due to the cost of inventory with channel partners. However, we anticipate a recovery in demand towards the end of Q3FY24. On the margins side, softening of raw material prices and deployment of cost improvement programs are expected to have a favorable impact. In our animal health business, the progress on developing new products as part of a long-term contract with an innovative animal health company is progressing well. Our new multipurpose plant for animal health is on track at Panoli, Gujarat and commissioning is underway. We will be validating several products in the upcoming quarters. We are well-positioned to benefit from the significant opportunities considering the current shift in the global supply chain and the diverse capability built over three decades. We are anticipating a better second half of the year with an up-trending revenue, realization from cost improvement programs, and raw material price stabilization. We are confident that the journey of longer-term sustainable growth and profitability is still very much intact.” Result PDF08-08-2023
HIKAL LTD. - 524735 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Earnings press release on the standalone and consolidated financial results of the Company for the quarter ended June 30, 2023.08-08-2023
HIKAL LTD. - 524735 - Announcement under Regulation 30 (LODR)-Investor Presentation
Investor presentation of the Company on the unaudited standalone and consolidated financial results for the quarter ended June 30, 2023.08-08-2023