Pharmaceuticals company Hikal announced Q1FY27 results Consolidated Financial Highlights: Total Revenue from Operations: Consolidated revenue for Q1FY27 was Rs 4,028 million, a YoY increase of 5.89% from Rs 3,804 million in Q1FY26 and a QoQ decrease of 22.45% from Rs 5,194 million in Q4FY26. Total Income: Total consolidated income for Q1FY27 was Rs 4,046 million, representing a YoY growth of 6.08% and a QoQ decline of 23.08%. Net Profit/Loss (Attributable to Owners): The company recorded a Net Loss of Rs (74) million in Q1FY27, an improvement of 66.96% YoY from a loss of Rs (224) million in Q1FY26. The performance turned to a loss on a QoQ basis compared to a Net Profit of Rs 144 million in Q4FY26. Total Comprehensive Income: This stood at Rs (72) million for Q1FY27, compared to Rs (228) million in Q1FY26 and Rs 128 million in Q4FY26. Earnings Per Share (EPS): Basic and Diluted EPS for Q1FY27 stood at Rs (0.60). Standalone Financial Highlights: Total Revenue from Operations: For Q1FY27, revenue stood at Rs 4,028 million, representing a YoY growth of 5.89% compared to Rs 3,804 million in Q1FY26, and a QoQ decline of 22.45% compared to Rs 5,194 million in Q4FY26. Total Income: The company reported a total income of Rs 4,046 million in Q1FY27, up 6.08% YoY from Rs 3,814 million in Q1FY26, but down 23.08% QoQ from Rs 5,260 million in Q4FY26. Net Profit/Loss: The company reported a Net Loss of Rs (75) million for Q1FY27. This shows a narrowing of the loss compared to a Net Loss of Rs (227) million in Q1FY26 (a 67.00% improvement YoY). Compared to the previous quarter Q4FY26, which saw a Net Profit of Rs 146 million, the company turned to a loss. Total Comprehensive Income: For Q1FY27, it stood at Rs (73) million, compared to Rs (231) million in Q1FY26 and Rs 130 million in Q4FY26. Earnings Per Share (EPS): Basic and Diluted EPS for Q1FY27 were Rs (0.61), compared to Rs (1.84) in Q1FY26 and Rs 1.18 in Q4FY26. Business Highlights: Segment Performance (Standalone): Pharmaceuticals: Segment revenue was Rs 2,333 million in Q1FY27, a YoY increase of 15.15% from Rs 2,026 million. The segment turned profitable at the result level with Rs 75 million in Q1FY27, compared to a loss of Rs (261) million in Q1FY26. Crop Protection: Segment revenue was Rs 1,695 million in Q1FY27, a YoY decline of 4.67% from Rs 1,778 million. The segment recorded a result-level loss of Rs (60) million in Q1FY27 compared to a profit of Rs 173 million in Q1FY26. Restructuring Benefits: During Q1FY27, the company restructured salary components, leading to a reduction in gratuity liability by Rs 89 million, which was disclosed as an exceptional item. Regulatory Impact: Sales for the Pharma Segment continue to be impacted by the USFDA warning letter issued in August 2025 regarding the Jigani facility. Environmental Matter Update: The Hon’ble Supreme Court has stayed the order for recovery of compensation of Rs 174.5 million and directed the company to deposit Rs 50 million. The company has provided Rs 10 million in its books for this matter. Result PDF
Conference Call with Hikal Ltd. Management and Analysts on Q4FY26 & Full Year Performance and Outlook. Listen to the full earnings transcript.
Pharmaceuticals company Hikal announced Q4FY26 & FY26 results Consolidated Financial Highlights: Revenue from operations: Reported at Rs 5,194 million for Q4FY26, compared to Rs 5,524 million in Q4FY25, representing a YoY decrease of 5.97%. On a QoQ basis, it increased by 5.08% from Rs 4,943 million in Q3FY26. For FY26, revenue was Rs 17,126 million, down 7.91% YoY from Rs 18,598 million in FY25. Net Profit/Loss for the period: Reported a profit of Rs 144 million for Q4FY26, compared to Rs 502 million in Q4FY25 (YoY decrease of 71.31%). For FY26, the company reported a net loss of Rs 488 million, compared to a profit of Rs 908 million in FY25. Standalone Financial Highlights: Revenue from operations: Reported at Rs 5,194 million for Q4FY26, compared to Rs 5,524 million in Q4FY25 (YoY decrease of 5.97%). On a QoQ basis, it increased by 5.08% from Rs 4,943 million in Q3FY26. For FY26, revenue stood at Rs 17,126 million, a decrease of 7.91% YoY from Rs 18,598 million in FY25. Net Profit/Loss for the period: Reported a profit of Rs 146 million for Q4FY26, compared to Rs 503 million in Q4FY25 (YoY decrease of 70.97%). For FY26, the company reported a net loss of Rs 487 million, compared to a profit of Rs 909 million in FY25. Business Highlights: Segment-wise Performance: Pharmaceuticals: Revenue for Q4FY26 stood at Rs 2,916 million, compared to Rs 3,513 million in Q4FY25. For FY26, segment revenue was Rs 10,210 million. Crop Protection: Revenue for Q4FY26 stood at Rs 2,278 million, compared to Rs 2,011 million in Q4FY25. For FY26, segment revenue was Rs 6,916 million. Dividend: The Board recommended a final dividend of Rs 0.40 per equity share for the financial year 2025-26. Combined with the interim dividend of Rs 0.20 per share paid in March 2026, the total dividend aggregates to Rs 0.60 per equity share (30%). Appointment: Mr. Sandip Parikh (DIN: 00030990) was appointed as an Additional Director in the category of Independent Director for a period of 5 consecutive years, effective May 27, 2026. Result PDF
Pharmaceuticals company Hikal announced Q3FY26 results Revenue registered a YoY growth of 10% to Rs 494 crore. EBITDA registered a YoY growth of 15% to Rs 83 crore. EBITDA Margin improved by 70 bps on YoY basis to 16.8%. Exceptional Item of Rs. 38 crore relates to implementation of new Labour Code. PBT before exceptional item registered a YoY growth of 22% to Rs 29 crore. Board has approved an interim dividend of 10% of FV. Hikal’s long term credit rating is at A (Stable) by ICRA. Jai Hiremath, Executive Chairman, Hikal, said: "Q3FY26 marks a return to positive operational performance for our company. Following the regulatory cycle triggered in early 2025, we have transitioned from remediation to recovery and are now positioned for sustainable, higher-quality growth. Supply resumptions in our Pharmaceutical business progressed according to expectations during the quarter, supported by strengthened quality systems and collaboration with global remediation partners. As a result, Q3 witnessed a significate recovery, with sequential improvement in volumes and capacity utilization returning to optimal levels. Our remedial measures with regard to the US FDA audit have been majorly completed. We continue to focus on ensuring the highest standards of quality compliance. The Animal Health business has moved into commercial volumes in addition to a strong pipeline for new projects in the development stage. Consolidated revenue for Q3 stood at Rs 494 crore with an EBITDA of Rs 83 crore. For 9MFY26, revenue was Rs 1,193 crore with an EBITDA of Rs 115 crore. Performance reflects improving operating momentum and stabilization across key segments. The Pharmaceutical segment reported revenue of Rs 337 crore with an EBIT margin of 12.3%. Crop Protection delivered revenue of Rs 157 crore with an EBIT margin of 3%. Strategic investments made over the last 12 months are now operational, including our state-ofthe-art High Potency lab and new pilot plant. These capabilities enhance our positioning in highentry-barrier segments such as Oncology and strengthen our differentiated CDMO platform. The outsourcing trend continues to support a robust order pipeline, with several programs advancing into development and scale-up, improving medium-term revenue visibility. The crop protection industry continues to remain in a phase of normalization, impacted by pricing pressure and global overcapacity. In response, we have advanced portfolio diversification, with our Personal Care and Specialty Chemicals business which is now commercial and we expect commercial revenues to kick in in the next financial year. Disciplined cost management and stable raw material prices have supported margin resilience. Our balance sheet remains strong, with growth investments funded through a prudent mix of internal accruals and debt. As we enter Q4, visibility continues to strengthen. We emerge from this period with enhanced quality systems, improved governance, and a technologically advanced manufacturing base. The foundation for a stronger FY27 is firmly in place." Result PDF
Pharmaceuticals company Hikal announced Q2FY26 results Revenue: Rs 319 crore against Rs 453 crore during Q2FY25. EBITDA: Rs 8 crore against Rs 75 crore during Q2FY25. EBITDA Margin: 2.4% for Q2FY26. PAT: Rs -35 crore against Rs 18 crore during Q2FY25. EPS: Rs -2.82 for Q2FY26. Jai Hiremath, Executive Chairman, Hikal, said: "Across the global chemical and life sciences industry, persistent headwinds from pricing pressure, overcapacity, and regulatory complexity continue to shape the operating environment. Demand visibility is improving, and capacity utilization is rebounding across geographies. While evolving trade policies and US tariffs add volatility, our diversified base, global footprint, and long-standing partnerships provide resilience. Consolidated revenue for Q2 stood at Rs 319 crore, with EBITDA at Rs 8 crore. For H1FY26, revenue stood at Rs 699 crore, with EBITDA at Rs 32 crore. Lower than expected sales due to deferment during the quarter led to under absorption of fixed costs. Pharmaceutical business revenue stood at Rs 190 crore, with an EBIT margin of -9.2%. Following the US FDA audit in February 2025, we received an OAI and warning letter, leading to H1FY26 deferment of offtake across our generic and CDMO business, as customers are undertaking their own internal risk assessments before resuming supplies. The resumption of supplies is progressing well, and we expect H2 FY26 to bridge majority of the impact of H1FY26 deferments. To address the observations comprehensively, we have launched a robust remediation program, engaged two globally recognized remediation partners, and further strengthened our internal quality organization to ensure full alignment with global regulatory expectations. Our CAPA implementation status has been submitted to the agency in a timely and detailed manner, and we remain actively engaged to expedite a positive resolution. Our crop protection business reported revenue of Rs 129 crore, with an EBIT margin of -7.4%. While globally volumes continue to stabilise, the dynamic demand patterns and structural shifts among key innovator customers have led to a muted performance. Our Personal Care business is steadily progressing through its development and launch phase, backed by focused efforts to build a differentiated portfolio of specialty ingredients. This marks a strategic move to diversify beyond our Crop Protection base and enter a fast-growing, high-potential market. With strong momentum in new product development and multiple global RFPs underway, we are building a solid foundation for sustainable growth and long-term value creation. In the animal health segment, we continue to make steady progress. Validated molecules are now being supplied at pre-commercial volumes which will ramp up further as we receive regulatory approvals across geographies. We have built a strong pipeline of new products which are currently in the development phase. These initiatives position us well for subsequent validations, global regulatory submissions and eventual commercialization through FY27 and beyond. As part of our innovation and technology strategy, during the quarter we inaugurated a state-of-the-art High Potency API (HPAPI) lab, enhancing our capabilities and entering into a niche segment. We also commissioned a new kilo lab at one of our facilities, further strengthening our early-stage development and scale-up infrastructure. Despite the challenges faced in the first half of FY26, we expect a strong recovery in Q3 and Q4, supported by improved demand visibility, higher capacity utilization, and the commercialization of new products." Result PDF
Pharmaceuticals company Hikal announced Q1FY26 results Revenue recorded at Rs 380 crore, compared to Rs 407 crore during Q1FY25. EBITDA stood at Rs 25 crore, compared to Rs 58 crore during Q1FY25. EBITDA Margin: 6.5% for Q1FY26. PAT stood at Rs -23 crore, compared to Rs 5 crore during Q1FY25. ikal’s long term credit rating is maintained at A+ by ICRA. Jai Hiremath, Executive Chairman, Hikal, said: “The global chemical and life sciences industry continues to face mitigated headwinds, marked by a gradual pickup in demand and capacity utilization, though pricing remains under pressure in some segments. Escalating tariff uncertainties and ongoing trade realignments have added a layer of volatility to global supply chains and procurement cycles. For Q1FY26, our consolidated revenue stood at Rs 380 crore, with EBITDA at Rs 25 crore, reflecting a lower-than-forecasted start to the financial year. Our pharmaceutical segment delivered revenue of Rs 203 crore, with an EBIT margin of -12.9%. After the US FDA audit conducted in February 2025, we received an Official Action Indicated (OAI) communication on 22nd May. This led to temporary deferment of offtake in our pharmaceutical division across both the generic and more profitable CDMO business during the quarter, as customers conducted their own risk assessment audits as part of their own internal protocol before resuming supplies typically. This resulted in a short-term quarterly impact on revenue and profitability. We expect these supplies to resume partly in Q2 and through the rest of the year and confirm our overall guidance for full financial year for the pharmaceutical division. As part of our risk mitigation strategy on the FDA observations, we have taken several proactive measures, including onboarding a seasoned remediation partner to address regulatory observations and the engagement with the regulatory authorities to resolve the matter expeditiously. We have submitted timely comprehensive responses, outlining our CAPA plan along with our implementation progress, and remain actively engaged with the agency to ensure full alignment with regulatory expectations. I would like to reaffirm our unwavering and continued commitment to compliance and quality excellence We did have some positive news during the quarter. GMP audits at our Bangalore API facility by two global regulatory agencies - ANVISA, Brazil and PMDA Japan were successfully concluded. This reinforces our regulatory credentials and positions us well for future growth in Japan and key LATAM markets. Our crop protection business reported revenue of Rs 178 crore with an EBIT margin of 9.7%. The business remained largely flat on a YoY basis, reflecting persistent global overcapacity, and continued pricing pressure, particularly from lower priced Chinese competition. Despite these headwinds, our focus on product mix and cost discipline helped maintain operational efficiency. We expect gradual volume recovery and a more stable pricing environment in the second half of the year, aligned with the seasonal demand uptick. In our animal health business, we continue to make steady progress as several molecules have completed development and validation, and additional ones are moving through the pipeline. These initiatives position us well for global regulatory submissions and eventual commercialization in FY27 and beyond. Despite the challenging start to the year in Q1 we remain confident of delivering on our guidance for FY26. We expect a more meaningful recovery in Q3 and Q4FY26, supported by increased demand visibility, improved capacity utilization, and new product commercialization.” Result PDF