On a consolidated basis, Hester Biosciences' net profit soared 111.97% to Rs 10.09 crore on 47.11% rise in revenue from operations to Rs 64.17 crore in Q4 March 2021 over Q4 March 2020.
Profit before tax surged 122.11% to Rs 13.86 crore in Q4 FY21 as against Rs 6.24 crore in Q4 FY20.
During the financial year, Hester Biosciences' consolidated net profit jumped 11.90% to Rs 34.69 crore on 16.95% increase in revenue from operations to Rs 214.33 crore in FY 2021 over FY 2020.
The company said that the financial year was in line with the financial forecasts and the budgets. During FY21, domestic sales have registered a growth of 55% in Q4 FY21 and 29% in FY21. There was a steep rise in local demand, mainly for the poultry vaccines and health products. Bird-flu incidences in the poultry led towards heavy usage of preventive and curative medication which led an increase in the demand.
Export sales have registered a growth of 3% in Q4 FY21 and a de-growth of 4% in FY21. The main reason for the exports remaining flat in the year was a more or less stand-still in airlines cargo movement due to COVID-19. While quarter to quarter gross margins have always been oscillating within a band, the overall year's EBIDTA margins have improved.
The firm added that rationalising of product mix continued during the year, besides adding newer products. Marketing and administrative expenses continued to show a downward trend, thereby ensuring a healthier bottom line.
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In its outlook, the company said that registration process continues for the classical swine fewer vaccine, lumpy skin disease vaccine and sheep pox vaccine. The company hopes to commence the commercial production and marketing for all the three vaccines by December 2021. Meanwhile, the recently launched herbal products division is expected to give substantial results in increasing the top-line this financial year.
The over-all poultry and animal health business of Hester is slated to grow at a faster rate than what it has been growing in the last few years. This growth will be due to increase the product range as well as due to adding geographical territories, it added.
Meanwhile, the board has recommended a dividend of Rs 10 per equity share for the FY 2020-21.
The board has approved the resignation of Chetas Patel from the post of Chief Financial Officer (KMP) of Hester Biosciences with effect from the close of the office hours on 8 June 2021. The board has approved the appointment of Nikhil Jhanwar as a Chief Financial Officer (KMP) of the company will come to effect from 9 June 2021.
Hester Biosciences is one of India's leading animal healthcare companies and are the second largest poultry vaccine manufacturer in the country. The company operates through four broad verticals: poultry vaccines, poultry health products, animal vaccines and animal health products.
Shares of Hester Biosciences slipped 1.50% to Rs 2,717.15 on BSE. The stock hit a low of Rs 2,675 and a high of Rs 2,876.85 during the day.
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