Hikal Ltd — earnings calls
2 quarters summarised from transcripts filed with the exchange, every statement cited. Newest first.
Hikal reported Q1 FY27 revenue of Rs 403 crores with an EBITDA margin of 9.2% and a net loss of Rs 7 crores, as the Pharmaceutical business grew year-on-year despite a planned shutdown for U.S. FDA remediation. Management said the Crop Protection business saw sequential volume improvement but continued pricing pressure from Chinese competition and higher raw material costs, while the Animal Health business delivered another quarter of demand-led growth. The company also commissioned a new Personal Care manufacturing line at Panoli and guided to full-year revenue growth of approximately 14% to 16% and EBITDA growth of 25% to 30% for FY27.
Hikal reported Q4 FY26 revenue of INR519 crores with EBITDA margin at 20.3%, while full-year FY26 revenue stood at INR1,713 crores with EBITDA margin at 12.9%. Management attributed the quarterly improvement to recovery in Pharma demand trends and a rebound in Crop Protection volumes following industry inventory correction, while noting an exceptional impairment charge of INR47 crores on a multipurpose manufacturing facility at Panoli. Management also discussed an ongoing US FDA warning letter affecting the Bangalore pharma site, which slowed shipments and production in the year, alongside continued investment in CDMO, HPAPI and Animal Health capabilities.