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Stock Report
HIKAL Ltd Q1FY21 consolidated PAT at Rs. 15 crore
Posted On : 2020-08-04 16:26:53( TIMEZONE : IST )
HIKAL LTD. has reported financial results for the period ended June 30, 2020.
Financial Results (Q1 FY 2020-21) - QoQ Comparison
The company has reported total income of Rs.353.41 crores during the period ended June 30, 2020 as compared to Rs.380.72 crores during the period ended March 31, 2020.
The company has posted net profit / (loss) of Rs.15 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.24.47 crores for the period ended March 31, 2020.
The company has reported EPS of Rs.1.22 for the period ended June 30, 2020 as compared to Rs.1.98 for the period ended March 31, 2020.
| Financials | Q1 FY2020-21 | Q4 FY19-20 | % Change |
| Total Income | ₹ 353.41 crs | ₹ 380.72 crs |  -7.17% |
| Net Profit | ₹ 15 crs | ₹ 24.47 crs | -38.7% |
| EPS | ₹ 1.22 | ₹ 1.98 | -38.38% |
Financial Results (Q1 FY 2020-21) - YoY Comparison
The company has reported total income of Rs.353.41 crores during the period ended June 30, 2020 as compared to Rs.403.84 crores during the period ended June 30, 2019.
The company has posted net profit / (loss) of Rs.15 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.25.23 crores for the period ended June 30, 2019.
The company has reported EPS of Rs.1.22 for the period ended June 30, 2020 as compared to Rs.2.05 for the period ended June 30, 2019.
| Financials | Q1 FY2020-21 | Q1 FY2019-20 | % Change |
| Total Income | ₹ 353.41 crs | ₹ 403.84 crs | -12.49% |
| Net Profit | ₹ 15 crs | ₹ 25.23 crs | -40.55% |
| EPS | ₹ 1.22 | ₹ 2.05 | -40.49% |
Commenting on the results, Jai Hiremath, Chairman & Managing Director, Hikal Ltd. said, "We started the year with a better than expected performance and I would like to thank all the stakeholders and specially our Employees for standing strong during these difficult times. The revenue in Q1 has been lower by 12% compared to Q1 last year however, with better operational efficiencies we were able to improve our Gross Profit Margins. Our operations were at sub-optimal levels due to the nationwide lockdown and our fixed costs were greater due to the Pandemic which were not absorbed fully thereby impacting our operating profit margins. The performance for the quarter has been impacted by a COVID expense of Rs. 4.7 crore towards employee benefits and other additional costs incurred to mitigate the effect of the pandemic and help society at large.
Our Crop Protection Division saw a revenue dip of 30% in Q1 as compared to corresponding period last year mainly due to several headwinds faced by our global customers which resulted in deferment of volume off-take. Restrictions imposed by State Government in Maharashtra where both our crop protection plants are located also led to lower production and sales. Our Pharmaceutical Division has reported a growth of 5% in top line led by improved capacity ramp-up and better volume off-take by customers.
Looking forward, we are witnessing improvement in capacity utilization and higher volume off-take by our customers for both our divisions. We continue to be positive on growth prospects of both the divisions based on the new opportunities arising due to supply chain de-risking strategy of our customers.
We continue to work on various cost and efficiency improvement initiatives which has already started to show results with improvements in Gross Margins over the last year. We are going ahead with our Capex plans which has been delayed due to the Pandemic and the new capacity is expected to be commissioned between March and June 2021.
As the COVID-19 pandemic situation continues to be volatile and with intermittent lockdowns potentially impacting our operations, therefore at this juncture estimating the performance for the current year is difficult. However, with new capacity coming on stream in early part of next financial year along with normalization of COVID-19 related disruption we will be able to capitalize on our strong customer relationships, new customer inquiries, a healthy product pipeline and new opportunities under "Atmanirbhar Bharat."
Shares of HIKAL LTD. was last trading in BSE at Rs.136.1 as compared to the previous close of Rs. 161.45. The total number of shares traded during the day was 492732 in over 7870 trades.
The stock hit an intraday high of Rs. 167 and intraday low of 132.6. The net turnover during the day was Rs. 71950100.
