Pharmaceuticals firm Hester Biosciences announced Q1FY23 Result : Q1 FY23 Standalone revenues down 14%, Consolidated revenues down 16% Consolidated results also include operations of subsidiaries at Nepal and Tanzania. Hester Nepal has registered 16% growth in domestic revenues, however, there were no tender sales in the current quarter due to delay in tendering by FAO and other multilateral institutions. Hester Tanzania has just started commercial operations and recently received regulatory approvals for four products with two additional products under approval process. Revenues are expected to start in Q2. Result PDF
Conference Call with Hester Biosciences Management and Analysts on Q4FY22 Performance and Outlook. Listen to the full earnings transcript.
Pharmaceuticals firm Hester Biosciences declares Q4FY22 result: FY22 Standalone revenues up 5%, Consolidated revenues up 10% FY22 Standalone PAT down 1%, Consolidated PAT up 14% The sales of vaccines declined by 20% in Q4FY22, but grew by 5% in the year FY22. Sales in the corresponding Q4 of FY21 was benefitted by a major disease outbreak in the poultry industry which led to a one-time spurt in demand for poultry vaccines. The current year did not experience any such disease outbreak. Further, during the current year, the poultry farm economics also turned adverse due to rise in feed costs and decline in end-product prices. Inspite of a large base effect and adverse demand environment, Hester posted 5% growth in vaccine sales for FY22. The sales of health products registered growth of 29% in Q4FY22 and 44% in the year FY22, largely driven by new product introductions and geographical expansion. Revenue from operations for Q4FY22 included one-time license and services fees of INR 2 million and for whole year FY22 it included a total of one-time license and service fees of INR 38.49 million as against the one-time license and service fees of INR 68.58 million and INR 175.73 million respectively for the corresponding earlier periods. The consolidated performance mainly includes the impact of the turnaround at Hester Nepal. Hester Nepal has seen a growth of 193% in FY22 sales and a net profit of INR 22.86 million in FY22 as against a loss of INR 9.73 million in FY21. We expect to achieve further increase in sales during the coming year upon the commencement of supplies under the FAO tenders for the PPR vaccine. Nepal’s domestic market is also building up for our live and inactivated vaccines. Hester Africa has received the regulatory approvals for the manufacturing of PPR and CBPP vaccines. The production of these vaccines has commenced and are meeting the quality parameters. The impact of its sales will be seen in FY23. This project will enable Hester to become a leading player in Africa and contribute significantly towards the social as well as economic growth of the African continent, besides adding to the top-line and bottom-line of Hester. Result PDF