Hikal Ltd
Hikal, jointly promoted by Hiremath and Kalyani group, is amongst the first companies to offer customized, cost effective and sustainable solutions from R&D to Commercial Manufacturing. It is one of the very few global and only Indian company to provide APIs for both Pharmaceuticals and Agrochemicals. About 70% of company’s earnings is coming from exports and having strong marketing tie-ups with multinationals includes Bayer, Syngenta, Degussa and Pfizer. And this is what affected the performance of the company is Q1FY16 – adverse currency fluctuations and flat demand.
Net sales for the quarter was flat at Rs.191 crore and then it went to suffer a forex loss of Rs.6.12 crore and that impacted the net profit – it came in at Rs.2 crore v/s Rs.6 crore in Q1FY15.
As at 30th June 2016, promoters hold 68.77% stake, FIIs hold 4.72% and DIIs have 9.85% stak