Hikal
- P/E
- Not meaningful: loss-making over the last twelve months
Key Fundamentals
MicrocapPharmaceuticals & BiotechnologyHealthcarePrice-based figures as of · EPS basis: Consolidated · TTM
- ROCE
- 3.50%
- Debt to Equity
- 0.57
- EPS (TTM)
- −₹2.74
- Book Value
- ₹97.22
- Market Cap
- —
- P/E (TTM)
- Not meaningful: loss-making over the last twelve months
- P/B
- 2.29
- ROE
- 2.21%
- Dividend Yield
- 0.28%
- EBITDA
- ₹233 Cr
- 52W High
- ₹261.00
- 52W Low
- ₹146.25
- Volume
- 0
Peer Comparison
Healthcare › Pharmaceuticals
| ₹1,773.40 | 38.81 | ₹4,29,049 Cr | 4.77 | 0.90% | 16.00% | 20.50% | ₹61,631 Cr | ₹10,987 Cr | |
| ₹10,037.50 | 91.10 | ₹2,65,269 Cr | 15.90 | 0.30% | 16.50% | 22.00% | ₹11,230 Cr | ₹2,925 Cr | |
| ₹4,738.50 | 78.61 | ₹1,77,061 Cr | 9.81 | 0.82% | 27.40% | 15.20% | ₹17,400 Cr | ₹2,099 Cr | |
| ₹1,188.10 | 26.44 | ₹1,25,446 Cr | 4.37 | 0.08% | 21.20% | 21.10% | ₹28,592 Cr | ₹4,593 Cr | |
| ₹2,323.80 | 114.81 | ₹1,25,228 Cr | 20.72 | 0.04% | 18.30% | 17.80% | ₹7,270 Cr | ₹1,090 Cr | |
| ₹1,374.00 | 35.59 | ₹1,14,543 Cr | 2.96 | 0.58% | 11.20% | 13.00% | ₹33,228 Cr | ₹3,184 Cr | |
| ₹1,402.00 | 33.59 | ₹1,12,454 Cr | 3.20 | 0.93% | 11.60% | 15.50% | ₹28,324 Cr | ₹3,356 Cr | |
| Hikal (this company) | ₹222.63 | — | ₹2,679 Cr | 2.29 | 0.28% | 2.21% | 3.50% | ₹1,735 Cr | −₹34 Cr |
| Median 8 companies | ₹1,587.70 | 38.81 | ₹1,25,337 Cr | 4.57 | 0.44% | 16.25% | 16.65% | ₹22,862 Cr | ₹3,055 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
Data confidence 93/100
Category scores
- Quality
- 43
- Weak
- Returns, margins, earnings quality 22% weight
- Valuation
- 69
- Strong
- Cheap vs sector & own history 24% weight
- Growth
- 6
- Poor
- Sales & profit trajectory 9% weight
- Financial Health
- 22
- Poor
- Solvency, leverage, coverage 9% weight
- Momentum
- 44
- Weak
- Trend strength, vol-adjusted 12% weight
- Ownership
- 47
- Average
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
No strengths listed
Weaknesses
4- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -0.09% over past five years.
- Company has a low return on equity of 5.16% over last 3 years.
- Dividend payout has been low at 8.37% of profits over last 3 years
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Strong Bullish | 2 | 6 | 11 |
| Oscillators | Bullish | 1 | 6 | 2 |
| Moving Averages | Strong Bullish | 1 | 0 | 9 |
Oscillators
Bullish
Overall
Strong Bullish
Moving Averages
Strong Bullish
Key readings
- RSI (14)
- 56.73
- Neutral
- MACD (12,26,9)
- −1.05
- Bullish
- SMA (50)
- 216.54
- Bullish
- SMA (200)
- 204.11
- Bullish
As of
Analyst Rating
1 of 1 analyst rates Buy, 0 Hold, 0 Sell.
As of
Growth Rate
From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 10Y | +6.34% |
|---|---|
| 5Y | −0.08% |
| 3Y | −5.39% |
| 1Y | −7.90% |
| TTM | −5.37% |
Net profit
| 10Y | Turned to loss |
|---|---|
| 5Y | Turned to loss |
| 3Y | Turned to loss |
| 1Y | Turned to loss |
| TTM | Turned to loss |
Operating cash flow
| 10Y | +4.97% |
|---|---|
| 5Y | +5.69% |
| 3Y | −1.40% |
| 1Y | +7.86% |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 10Y | −6.71 pp |
|---|---|
| 5Y | −5.94 pp |
| 3Y | +0.09 pp |
| 1Y | −4.79 pp |
| TTM | −2.73 pp |
Revenue by year
| Mar 2017 | ₹1,014 Cr |
|---|---|
| Mar 2018 | ₹1,296 Cr |
| Mar 2019 | ₹1,590 Cr |
| Mar 2020 | ₹1,507 Cr |
| Mar 2021 | ₹1,720 Cr |
| Mar 2022 | ₹1,943 Cr |
| Mar 2023 | ₹2,023 Cr |
| Mar 2024 | ₹1,785 Cr |
| Mar 2025 | ₹1,860 Cr |
| Mar 2026 | ₹1,713 Cr |
Net profit by year
| Mar 2017 | ₹68.00 Cr |
|---|---|
| Mar 2018 | ₹77.00 Cr |
| Mar 2019 | ₹103 Cr |
| Mar 2020 | ₹84.00 Cr |
| Mar 2021 | ₹133 Cr |
| Mar 2022 | ₹160 Cr |
| Mar 2023 | ₹78.00 Cr |
| Mar 2024 | ₹70.00 Cr |
| Mar 2025 | ₹91.00 Cr |
| Mar 2026 | −₹49.00 Cr |
Analyst Forecasts
Quarterly Results
₹ Cr| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 388 | 435 | 448 | 514 | 407 | 453 | 448 | 552 | 380 | 319 | 494 | 519 | 403 | 434 |
| Expenses | 338 | 377 | 383 | 420 | 349 | 378 | 376 | 429 | 355 | 311 | 412 | 414 | 366 | 389 |
| Operating Profit | 50.3 | 57.52 | 64.7 | 94.4 | 58 | 74.9 | 72.1 | 123 | 25.1 | 7.2 | 82.7 | 105 | 37 | — |
| OPM % | 12.96% | 13.23% | 14.46% | 18.36% | 14.26% | 16.54% | 16.1% | 22.34% | 6.6% | 2.26% | 16.73% | 20.29% | 9.19% | — |
| Other Income | 0.9 | 0.99 | 0.1 | 0.5 | 0.5 | 0.4 | 3.6 | 0.5 | 1 | 1.9 | −35.2 | −40.5 | 10.7 | 1.7 |
| Interest | 13.8 | 13.08 | 14.2 | 15.3 | 19.8 | 18.8 | 18.7 | 17.9 | 17.1 | 14.9 | 15.5 | 14.6 | 14.9 | 13.4 |
| Depreciation | 27.7 | 28.57 | 29 | 32.3 | 31.8 | 31.7 | 33.2 | 37.7 | 39.4 | 41.2 | 41.2 | 42 | 42.7 | 41.7 |
| PBT | 9.7 | 16.86 | 21.6 | 47.3 | 6.9 | 24.8 | 23.8 | 68.3 | −30.4 | −47 | −9.2 | 8.3 | −9.9 | −8.5 |
| Tax % | 28.87% | 25.44% | 25.46% | 28.33% | 26.09% | 26.21% | 27.73% | 26.5% | −26.32% | −25.74% | −35.87% | −73.49% | −25.25% | −28.24% |
| Net Profit | 6.9 | 12.57 | 16.1 | 33.9 | 5.1 | 18.3 | 17.2 | 50.2 | −22.4 | −34.9 | −5.9 | 14.4 | −7.4 | −6.1 |
| EPS (₹) | 0.56 | 1.02 | 1.31 | 2.75 | 0.41 | 1.48 | 1.39 | 4.07 | −1.82 | −2.83 | −0.48 | 1.17 | −0.6 | — |
Sep 2026: from the results filed on 3 Nov 2026, ahead of the full statement, so some rows are blank.
Profit & Loss
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 872 | 926 | 1,014 | 1,296 | 1,590 | 1,507 | 1,720 | 1,943 | 2,023 | 1,785 | 1,860 | 1,713 | 1,735 |
| Expenses | 689 | 745 | 813 | 1,054 | 1,291 | 1,234 | 1,398 | 1,602 | 1,765 | 1,518 | 1,531 | 1,492 | 1,503 |
| Operating Profit | 182 | 181 | 201 | 242 | 298 | 273 | 323 | 341 | 258 | 267 | 328 | 220 | 232 |
| OPM % | 21% | 20% | 20% | 19% | 19% | 18% | 19% | 18% | 13% | 15% | 18% | 13% | 13% |
| Other Income | 2 | 2 | −3 | 4 | 2 | −12 | 5 | 5 | 5 | 2 | 5 | −73 | −63 |
| Interest | 60 | 62 | 48 | 49 | 58 | 52 | 36 | 31 | 48 | 56 | 75 | 62 | 60 |
| Depreciation | 64 | 67 | 69 | 86 | 93 | 82 | 85 | 96 | 109 | 118 | 134 | 164 | 167 |
| PBT | 60 | 53 | 80 | 112 | 149 | 127 | 206 | 219 | 105 | 96 | 124 | −78 | −58 |
| Tax % | 32% | 23% | 16% | 31% | 31% | 33% | 36% | 27% | 26% | 27% | 27% | −38% | — |
| Net Profit | 40 | 41 | 68 | 77 | 103 | 84 | 133 | 160 | 78 | 70 | 91 | −49 | −34 |
| EPS (₹) | 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 |
| Div. Payout % | 20% | 20% | 15% | 13% | 14% | 18% | 19% | 12% | 19% | 21% | 19% | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | — |
Balance Sheet
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 16 | 16 | 16 | 16 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 |
| Reserves | 516 | 547 | 589 | 653 | 732 | 792 | 909 | 1,043 | 1,109 | 1,163 | 1,238 | 1,174 |
| Borrowings | 547 | 505 | 598 | 635 | 661 | 646 | 610 | 675 | 748 | 818 | 765 | 684 |
| Other Liabilities | 212 | 206 | 177 | 237 | 268 | 306 | 370 | 470 | 504 | 482 | 502 | 483 |
| Total Liabilities | 1,292 | 1,275 | 1,379 | 1,542 | 1,686 | 1,768 | 1,913 | 2,213 | 2,385 | 2,487 | 2,529 | 2,365 |
| Fixed Assets | 639 | 623 | 668 | 634 | 713 | 735 | 713 | 879 | 948 | 1,071 | 1,364 | 1,333 |
| CWIP | 62 | 66 | 63 | 118 | 79 | 161 | 254 | 295 | 412 | 414 | 121 | 94 |
| Investments | 3 | 3 | 4 | 3 | 1 | 1 | 1 | 11 | 5 | 5 | 10 | 10 |
| Other Assets | 588 | 583 | 645 | 788 | 893 | 871 | 946 | 1,028 | 1,020 | 997 | 1,034 | 928 |
| Total Assets | 1,292 | 1,275 | 1,379 | 1,542 | 1,686 | 1,768 | 1,913 | 2,213 | 2,385 | 2,487 | 2,529 | 2,365 |
Cash Flow
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 102 | 186 | 163 | 139 | 186 | 285 | 229 | 294 | 315 | 187 | 280 | 302 |
| Investing | −43 | −64 | −102 | −110 | −125 | −164 | −156 | −284 | −292 | −174 | −136 | −145 |
| Financing | −69 | −124 | −63 | −25 | −55 | −101 | −97 | −6 | −8 | −27 | −144 | −160 |
| Net Cash Flow | −10 | −2 | −2 | 4 | 6 | 20 | −24 | 4 | 15 | −14 | 0 | −3 |
| Free Cash Flow | 54 | 127 | 58 | 33 | 57 | 127 | 71 | 21 | 13 | −17 | 144 | 154 |
| CFO/OP | 63 | 110 | 91 | 68 | 73 | 113 | 85 | 107 | 134 | 81 | 94 | 144 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 54 | 44 | 92 | 81 | 80 | 82 | 103 | 82 | 80 | 113 | 103 | 94 |
| Inventory Days | 268 | 229 | 189 | 158 | 156 | 147 | 107 | 121 | 104 | 134 | 146 | 172 |
| Days Payable | 117 | 101 | 93 | 86 | 68 | 95 | 92 | 91 | 103 | 123 | 133 | 128 |
| Cash Conversion Cycle | 205 | 173 | 188 | 153 | 168 | 135 | 118 | 112 | 81 | 124 | 116 | 138 |
| Working Capital Days | −13 | 29 | 43 | 29 | 45 | 28 | 39 | 26 | 39 | 39 | 37 | 41 |
| ROCE % | 11% | 11% | 12% | 13% | 15% | 14% | 16% | 15% | 8% | 8% | 10% | 4% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Hikal insights
66 extracted metrics across FY06–FY27.
Documents
- Q1 FY27 concall · Aug 2026Transcript PPT Recording
- Concall · Jun 2026Transcript PPT Recording
- Q3 FY26 concall · Feb 2026Transcript PPT
- Concall · Jan 2026Recording
- 6 Aug 2026
- 27 May 2026
- 11 Feb 2026
- 19 Feb 2026
- 24 Nov 2025
- 19 Aug 2025
- 9 Apr 2025
- 4 Mar 2024
- General announcements 3 Nov 2026
- General announcements 3 Nov 2026
Frequently Asked Questions about Hikal
What does Hikal Ltd do?
Where is Hikal Ltd (HIKAL) listed?
Which sector does Hikal Ltd belong to?
What is the 52-week high and low of Hikal Ltd?
Does Hikal Ltd pay dividends?
What is the Return on Equity (ROE) of Hikal Ltd?
Company Information
Hikal is a partner to companies in the Pharmaceuticals, Crop Protection, and Specialty Chemicals industry. The company is in the business of supplying research services, active ingredients and intermediates for its customers. Hikal's manufacturing facilities have been inspected and approved by leading multinational companies in the Crop protection and Pharmaceutical sectors. The Crop protection facilities are located at Taloja and Mahad {Maharashtra). The Pharmaceutical manufacturing facilities are situated in Jigani (Bengaluru) and Panoli (Gujarat). Hikal's R & D facilities are located in Pune.
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