Hikal
- Market cap
- ₹ 2,383 Cr.
- P/E
- 56.6x
- P/B
- 2.09x
- 52-week range
- 146.25 – 261
- ROE
- 3%
- ROCE
- 4%
- Dividend yield
- 0.3%
- Debt / equity
- 0.57
- Sector
- Pharmaceuticals & Biotechnology
- Industry
- Pharmaceuticals
- Listed on
- NSE, BSE
About
Hikal Limited is an India-based company, which is engaged in the manufacturing of various chemical intermediates, specialty chemicals, active pharma ingredients and contract research activities. The Pharmaceuticals segment produces active pharmaceutical ingredients. Its facilities are in Jigani, Bangalore and Panoli, Gujrat. The Crop protection segment produces pesticides and herbicides. Its facilities are in Taloja, Mahad, Maharashtra and Panoli, Gujarat. Its human health product categories include anti-convulsant, anti-emetic, anti-histaminic, anti-depressant, anti-psychotic, anti-lipemic, and hemorheologic. Its animal health product categories include anti-tick, anti-parasitic, analgesic, anabolic steroids, female sex hormone, and NSAID. Its crop protection products are used in algaecide, biocide, fungicide, herbicide, insecticide, and intermediate. It offers contract research services for synthesis, process development, and manufacturing projects.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Pharmaceuticals: 221 companies →Hikal against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)56.6 against a typical 34: pricier than most peers (1st = cheapest).164th of 220
- Sales growth+5.9% against a typical +15.6% from a year earlier.131st of 197
- Share price, 3 months−8.6% against a typical −0.5%.140th of 200
- Size₹ 2,383 Cr. market value against a typical ₹ 507.7 Cr. (1st = largest).66th of 199
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Look closer
Rated A by ICRA- ICRA lowered its rating on 24 Nov 2025.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| ICRA | [ICRA]A | Stable | 24 Nov 2025 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 24 Nov 2025 | ▼ Downgrade1 notch | [ICRA]A+ → [ICRA]A | — | ICRA | ₹ 1,100.47 Cr. | |
| 19 Aug 2025 | Rating action | [ICRA]A+ | — | ICRA | ₹ 1,100.47 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 3 Nov 2026Upcoming | Financial Results | To consider and approve the financial results for the period ended September 30, 2026 |
| 6 Aug 2026 | Financial Results/Other business matters | To consider and approve the financial results for the period ended Jun 30, 2026 and other business matters |
| 27 May 2026 | Financial Results/Dividend/Other business matters | To consider and approve the financial results for the period ended March 31, 2026, dividend and other business matters |
| 11 Feb 2026 | Financial Results/Dividend | To consider and approve the financial results for the period ended December 31, 2025 and dividend |
| 13 Nov 2025 | Financial Results | HIKAL : 13-Nov-2025 : The Company has informed the Exchange that a Board meeting to be held on November 06, 2025 has been re-scheduled. Further, the Company has informed the Exchange that the meeting of the Board of Directors of the Company will be held on November 13, 2025, to consider and approve Unaudited Standalone and Consolidated financial results for the quarter and half year ended September 30, 2025 |
| 6 Nov 2025 | Financial Results | To consider and approve the Unaudited Standalone and Consolidated financial results for the Quarter and Half Year ended September 30, 2025 |
| 7 Aug 2025 | Financial Results | To consider and approve the unaudited standalone and consolidated financial results for the quarter ended Jun 30, 2025 |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 435 | 448 | 514 | 407 | 453 | 448 | 552 | 380 | 319 | 494 | 519 | 403 |
| Expenses | 377 | 383 | 420 | 349 | 378 | 376 | 429 | 355 | 311 | 412 | 414 | 366 |
| Operating Profit | 58 | 65 | 94 | 58 | 75 | 72 | 123 | 25 | 7 | 83 | 105 | 37 |
| OPM % | 13.2% | 14.5% | 18.4% | 14.3% | 16.5% | 16.1% | 22.3% | 6.6% | 2.3% | 16.7% | 20.3% | 9.2% |
| Other Income | 1 | 0 | 1 | 1 | 0 | 4 | 1 | 1 | 2 | −35 | −41 | 11 |
| Interest | 13 | 14 | 15 | 20 | 19 | 19 | 18 | 17 | 15 | 16 | 15 | 15 |
| Depreciation | 29 | 29 | 32 | 32 | 32 | 33 | 38 | 39 | 41 | 41 | 42 | 43 |
| Profit before tax | 17 | 22 | 47 | 7 | 25 | 24 | 68 | −30 | −47 | −9 | 8 | −10 |
| Tax % | 25.4% | 25.5% | 28.3% | 26.1% | 26.2% | 27.7% | 26.5% | −26.3% | −25.7% | −35.9% | −73.5% | −25.3% |
| Net Profit | 13 | 16 | 34 | 5 | 18 | 17 | 50 | −22 | −35 | −6 | 14 | −7 |
| EPS in Rs | 1.02 | 1.31 | 2.75 | 0.41 | 1.48 | 1.39 | 4.07 | −1.82 | −2.83 | −0.48 | 1.17 | −0.6 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 6%
- 5 Years
- 0%
- 3 Years
- −5%
- TTM
- −5%
- 10 Years
- −1%
- 5 Years
- −23%
- 3 Years
- −22%
- TTM
- −33%
- 10 Years
- 7%
- 5 Years
- −20%
- 3 Years
- −9%
- TTM
- —
- 10 Years
- 10%
- 5 Years
- 8%
- 3 Years
- 5%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Hikal | ₹ 202.25 | ₹ 2,383 Cr. | 56.6x | 2.1x | 3% | — |
| Sun Pharmaceutical Industries | ₹ 1,743.00 | ₹ 4,18,194 Cr. | 38.4x | 5.6x | 14.2% | 19.1% |
| Divi's Laboratories | ₹ 8,984.00 | ₹ 2,38,497 Cr. | 73.3x | 11.5x | 16.2% | 24.3% |
| Torrent Pharmaceuticals | ₹ 4,482.00 | ₹ 1,70,475 Cr. | 72.7x | 19.2x | 27.1% | 15.3% |
| Cipla | ₹ 1,337.00 | ₹ 1,08,011 Cr. | 27.6x | 3.3x | 11.8% | 13.7% |
| Zydus Lifesciences | ₹ 1,127.85 | ₹ 1,12,503 Cr. | 21.2x | 4.2x | 19.7% | 18.5% |
Management
- Jai Hiremath
- Executive Chairman of the Board
- Sameer Hiremath
- Chief Executive Officer, Managing Director, Executive Director
- Kuldeep Jain
- Chief Financial Officer
- Ratish Jha
- President - Human Resources
- Vimal Kulshrestha
- President - Crop Protection
- Manoj Mehrotra
- President - Pharmaceuticals
- Anish Dilip Swadi
- Senior President - Animal Health and Business Transformation
- Rajasekhar Chintakindi Reddy
- Compliance Officer, Company Secretary
Prices are delayed and for information only. Nothing on this page is investment advice.