Hikal surges 13%

Hikal has been the top gainer on the BSE since the opening bell today morning; from its close of yesterday at Rs.283.15, it opened higher in the green at Rs.296.10 and surged 13% to hit an intraday high at Rs.319.50.

The stock price rose on the back of its very good performance for Q4FY23. On a 9% (YoY) rise in revenue at Rs.546 crore, the company posted a net profit of Rs.36 crore, a very healthy jump of 80%.

Its EBITDA rose 44% at Rs.88 crore while margins showed a huge 400 bps jump at 16.1%.

The growth in its crop protection unit was much more – at 22% at Rs.236 crore v/s the main contributor, pharmaceuticals, which was flat at Rs.309 crore v/s Rs.308 crore (YoY).