Hikal Limited, incorporated on July 8, 1988, has emerged as one of the preferred partners for global companies in segments such as pharmaceuticals, crop protection, animal health, biocides, and specialty chemicals. The company serves as a strategic partner to companies in the Pharmaceuticals, Crop Protection, and Specialty Chemicals industry, establishing itself as a trusted name in contract manufacturing and research services.
The company operates in the business of supplying research services, active ingredients, and intermediates for its customers. Hikal Limited specializes in the custom synthesis and contract manufacture of pharmaceuticals, agrochemicals, and intermediates, serving diverse industries including biotechnology, animal health, and specialty chemicals. The Group has relationships with a number of companies, including the Sumitomo Corporation, AgrEvo, Merck, and Novartis, demonstrating its global reach and credibility in the international market.
Hikal operates through two primary business segments that drive its revenue growth. The Pharmaceuticals segment focuses on Active pharmaceutical ingredients (APIs), intermediates, and advanced intermediates. The majority of the revenue is derived from the pharmaceutical segment, highlighting the company's strong position in the healthcare sector.
The company's CDMO (Contract Development and Manufacturing Organization) operations represent a significant growth opportunity. The company has a pipeline of 13-14 products in various development stages, with 2 expected to be launched by FY26. This robust pipeline indicates strong future revenue potential and demonstrates Hikal's commitment to innovation and development.
Hikal's manufacturing facilities have been inspected and approved by leading multinational companies in the Crop protection and Pharmaceutical sectors. The company maintains state-of-the-art manufacturing facilities across strategic locations in India.
The Crop protection facilities are located at Taloja and Mahad (Maharashtra), while the Pharmaceutical manufacturing facilities are situated in Jigani (Bengaluru) and Panoli (Gujarat). Hikal's R & D facilities are located in Pune, ensuring continuous innovation and product development capabilities.
The company's commitment to quality is evident from recent regulatory approvals. In June 2025, Hikal's Jigani unit cleared ANVISA GMP audit for APIs, enabling Brazilian market supply, expanding its international market reach and compliance standards.
As of July 2025, Hikal's market capitalization stands at ₹4,206 Crore, positioning it as a significant player in the specialty chemicals and pharmaceuticals sector. The company's market cap is INR 46.75 Billion, reflecting its substantial market presence.
For the full year ended March 2025, net profit rose 30.46% to ₹90.80 Crore compared to ₹69.60 Crore in the previous year, while sales rose 4.23% to ₹1,843.50 Crore from ₹1,768.70 Crore. This demonstrates the company's ability to improve profitability margins despite modest revenue growth.
The company's consolidated net profit for Q4 FY25 surged by 48% to ₹50.2 Crore, compared to ₹33.9 Crore in the same period last year. Hikal's revenue for Q4 FY25 rose by 7.4% to ₹552.4 Crore, compared to ₹514 Crore in Q4 FY24.
For Q3 FY2025, Hikal Ltd. posted ₹442.5 Crore in revenue and ₹17.20 Crore in net profit, showing consistent operational performance across quarters.
- Revenue (FY25): ₹1,843.5 Crore
- Net Profit (FY25): ₹90.8 Crore
- Q4 FY25 Revenue: ₹552.4 Crore
- Q4 FY25 Net Profit: ₹50.2 Crore
- Market Cap (July 2025): ₹4,206 Crore
Promoter holding in Hikal Ltd stands at 68.85% as of March 2025, indicating strong promoter confidence and commitment to the company's long-term growth. The company maintains robust corporate governance practices with Sameer Hiremath serving as Vice Chairman & Managing Director.
In 2023, new product launches in the antidiabetic therapeutic area gained significant traction among global customers, demonstrating the company's focus on high-growth therapeutic segments. Hikal Ltd announced the successful completion of the ANVISA GMP audit for its API manufacturing unit in Bengaluru, enhancing its compliance with international standards, and the company's shares rose following this positive news.
The company has been actively expanding its global footprint and capabilities. With their multiple partnerships and technological expansion projects, they have achieved milestones such as receiving the 5 Star Safety Award from the UK British Safety Council and their promotion to a trading house status, and they have acquired an agrochemical manufacturing site from Novartis India Limited.
Hikal target price stands at ₹540, representing a potential upside of 56.05% compared to current price levels, according to 1 analyst rating. This optimistic outlook reflects confidence in the company's growth prospects and strategic positioning in the specialty chemicals and pharmaceuticals sector.
Hikal is well-positioned to maintain its growth momentum, supported by expanding its product portfolio in specialty chemicals and pharmaceuticals and leveraging its strong presence in domestic and international markets. The company's diversified business model, strong regulatory compliance, and expanding international presence position it well for sustained growth in the evolving chemical and pharmaceutical industries.
