Hikal net sales up 38% to Rs. 107.5 crore

PAT jumps 18% to Rs. 17.2 crore

Hikal Ltd, the preferred long-term outsourcing partner for leading global life sciences companies, today announced its financial results for the second quarter ended 30th September, 2008.

Highlights of the financial results for the quarter ended 30th September 2008 

 

Net sales up by 38% to Rs.107.5 crore as compared to Rs.78.0 crore in the corresponding quarter of the previous year. . 
 

PAT has risen by 18% to Rs.17.2 crore from Rs.14.6 crore in the corresponding quarter of the previous year. 
 

Registering an impressive growth of 80%, the pharma sales have risen to Rs. 65.7 crore in the second quarter of 2008 as against Rs. 36.6 crore in the corresponding quarter of the previous year. 
 

The EBIDTA for this quarter increased by 23% to Rs. 28.9 crore as compared to Rs 23.5 crore in the corresponding quarter of the previous year.

Commenting on the results, Mr. Jai Hiremath, Vice Chairman & Managing Director of Hikal Ltd., said, “This has been the highest quarter sales in the history of Hikal mainly driven by our pharma business. Our pharma business continues to grow due to the long term contracts signed earlier with leading global life sciences companies. We also expect significant growth in the agro-chemical business in the forthcoming quarters.”

 

About Hikal:
Hikal is a reliable long-term outsourcing partner to companies in the Pharmaceuticals, Crop Protection Products, and Specialty Chemicals industry. The company has been supplying key active ingredients (AI) and intermediates, manufactured using stringent global quality standards, for it’s customers in the United States, Europe and Japan. Hikal’s advanced manufacturing facilities have been inspected and approved by leading global players in Crop protection and Pharmaceutical sectors. The crop protection facilities are located at Taloja and Mahad (Maharashtra). Hikal’s manufacturing activities are supported by state-of-the-art research centers and pilot plant facilities located at Bangalore and Taloja respectively. The API and pharmaceutical intermediates manufacturing facilities are situated in Jigani (Bangalore) and Panoli (Gujarat) respectively.