1. India Stocks

  2. •

    Health technology

  3. •

    Pharmaceuticals: major
Hikal Limited

Hikal Limited

194.60
INR
-8.58
(-4.22%)
-2.74EPS
27.30BMarket Cap
Nov 11Next Earn
Hikal Limited
NSE:HIKAL
(National Stock Exchange of India)

Recent

price

194.60

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
INR
40.74
57.32
53.46
67.12
69.67
73.67
83.8
105.32
128.78
118.58
138.45
156.21
162.59
143.45
149.51
137.48
139.95
Revenue per Share
3.01
3.73
2.05
5.18
3.28
3.34
5.49
6.26
8.36
6.85
10.8
13.02
6.36
5.64
7.36
-3.96
-2.74
Basic EPS, GAAP
2.79
6.73
2.77
8.35
4.35
10.28
3.36
2.66
4.64
10.29
5.79
1.66
1.03
-1.42
11.61
12.48
- -
Free Cash Flow per Basic Share
1.25
0.93
0.93
0.7
0.39
0.8
1.28
1.04
1.33
1.93
1.2
2.2
1
1.2
1.2
1
- -
Dividend per Share
32.48
34.92
36.52
40.93
43.19
44.93
49.07
54.29
61.33
66.22
75.7
86.62
91.93
96.33
102.38
97.23
- -
Book Value per Share
32.48
34.92
36.52
40.93
43.19
44.88
48.94
53.82
60.66
65.34
74.87
85.78
91.1
95.51
101.74
96.76
- -
Tangible Book Value per Share
123
123
123
123
123
123
123
123
123
123
123
123
123
123
123
123
123
Basic Weighted Avg Shares
5,023
7,067
6,592
8,276
8,591
9,084
10,332
12,986
15,879
14,621
17,071
19,260
20,047
17,687
18,435
16,952
17,237
Sales/Revenue/Turnover
2.64
20.58
21.1
17.38
13.98
12.8
12.95
12.42
13.41
13.07
13.98
12.71
7.43
8.46
10.56
3.4
3.78
Operating Margin (%)
411
453
491
550
642
673
691
856
929
825
852
957
1,090
1,176
1,344
1,638
1,671
Depreciation Expense
372
460
252
639
404
412
677
772
1,031
844
1,331
1,605
784
696
908
-488
-338
Net Income, GAAP
- -
9.93
23.66
34.88
32.38
22.54
15.63
30.73
30.86
33.29
35.5
26.56
25.61
27.12
26.66
- -
- -
Effective Tax Rate (%)
7.4
6.51
3.83
7.72
4.7
4.54
6.55
5.95
6.49
5.77
7.8
8.33
3.91
3.94
4.93
-2.88
-1.96
Profit Margin (%)
2,383
-894
-937
279
-170
892
1,365
1,299
2,275
1,784
2,218
1,951
2,775
2,100
2,059
2,052
- -
Working Capital
5,365
2,457
2,196
2,548
2,014
2,877
3,202
2,966
2,978
3,043
2,635
2,869
4,899
4,255
3,696
3,758
- -
LT Debt
4,005
4,306
4,503
5,047
5,325
5,540
6,050
6,694
7,562
8,165
9,334
10,680
11,335
11,877
12,623
11,988
- -
Total Equity
- -
7.22
2.63
6.36
3.94
3.7
5.75
8.82
10.57
8.11
10.13
10.85
6.06
5.6
7.04
- -
- -
Return on Invested Capital (%)
- -
9.52
6.44
9.88
7.25
6.84
9.18
8.68
9.99
8
10.23
10.94
6.01
5.58
7.15
- -
- -
Return on Capital (%)
9.46
11.08
5.73
13.38
7.79
7.58
11.69
12.12
14.46
10.74
15.22
16.04
7.12
6
7.41
-3.97
- -
Return on Common Equity (%)

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
3,080
- -
LT Borrowings
- -
3,731
- -
LT Finance Leases
- -
27
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
123
123
123
Market Capitalization
27,968
18,135
27,296

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
8,841
- -
Cash, Cash Equivalents & STI
- -
136
- -
Accounts Receivable, Net
- -
4,416
- -
Inventories
- -
3,581
- -
Total Current Liabilities
- -
6,789
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
3,080
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
8.17%
5.32%
-5.03%
Free Cash Flow
-119.3%
-251.47%
7.55%
Net Income, GAAP
-1.36%
-33.02%
-153.74%
Sales/Revenue/Turnover
7.19%
0.27%
-8.04%
Total Cash Common Dividend
- -
- -
-16.89%

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
4,038
4,508
4,389
5,500
18,435
2026
3,713
3,162
4,907
5,170
16,952
2027
3,998
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
0.41
1.48
1.39
4.07
7.36
2026
-1.82
-2.83
-0.48
1.17
-3.96
2027
-0.6
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
1.2
2026
- -
- -
- -
- -
1
2027
- -
- -
- -
- -
- -
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Business
Hikal Limited, incorporated in 1988 and headquartered in Navi Mumbai, India, manufactures and supplies active pharmaceutical ingredients, intermediates, specialty chemicals, and crop protection products to global pharmaceutical, biotech, animal health, agrochemical, and specialty chemical companies; its core offerings span custom research, process development, contract development and manufacturing organization services, and commercial-scale production of generics APIs, new chemical entities, herbicides such as Diuron and 3,5-Dichloroaniline, insecticides including Temephos, Thiacloprid, and Clothianidin, fungicides like Prothioconazole and Trifloxystrobin, and biocides such as BIT, with operations across multiple US FDA-inspected facilities in India including sites in Panoli, Mahad, Taloja, Pune, and Bangalore serving markets in India, the United States, Europe, Canada, and Southeast Asia. The company operates through two primary segments—Pharmaceuticals, encompassing APIs, advanced intermediates, and high potency APIs for oncology and animal health, and Crop Protection, including active ingredients, custom synthesis, and contract manufacturing—with additional focus on biocides, personal care ingredients, and battery chemicals. In recent developments, Hikal has advanced its strategic transformation under Project Pinnacle by inaugurating a state-of-the-art high potency API laboratory and commissioning a new kilo lab to bolster early-stage development and niche oncology capabilities, completed development and validation of six animal health products under long-term innovator agreements with launches targeted for global markets, progressed toward commercializing 2-3 products in personal care and specialty chemicals, expanded its CDMO pipeline with 13-14 projects including two expected launches by FY26, intensified ESG initiatives, and broadened geographical reach and technology infrastructure to secure new customers amid ongoing remediation of regulatory challenges in its pharmaceutical segment.