HIKAL LTD
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BSE Code:
524735
NSE Code:
HIKAL
Business Profile
Business Profile
Hikal (HIKAL), is in the business of providing a broad spectrum of R&D and custom manufacturing solutions to the pharmaceuticals, biotech, agrochemicals and specialty chemicals industries. The Company was incorporated on July 8, 1988.
The company provides active ingredients, intermediates and R&D services and solutions. It supplies molecules for discovery research on a contract basis, develops non-infringing processes and scales them up to commercial scale production, undertakes method validation of new substances and custom manufacturing of key intermediates and active substances for pharmaceutical and agrochemical companies worldwide.
The pharmaceutical intermediates are manufactured at Panoli, Gujarat and active ingredients are manufactured in Bangalore meeting regulated markets (US, Europe and Japan) standards. Commercialized APIs developed include Gabapentin, Ondansetron Hydrochloride, and Valproic acid; intermediates include Gabapentin Lactam, benzylchloride, among others.
The company specializes in custom synthesis and contract manufacture of agrochemicals, intermediates and specialty chemicals by developing non-infringing processes for molecules and analytical development. Its Taloja, Panoli, and Mahad plants are ISO 17025, ISO 9000-2000, ISO 14001 and OHSAS18001 certified. Active ingredients include diuron and quinalphos; intermediates and specialty chemicals include 4-methyl thiazole, meta chloro aniline, among others. It also provides formulations including emulsifiable concentrates, wettable powders, suspension concentrates, and water dispersible granules.
The company has long term agreements to supply the German company Degussa AG with pharmaceutical intermediates and active pharma ingredients (APIs) and the US-based Alpharma with active pharmaceutical ingredient (API) for the veterinary sector. The company operates mainly in India, United States, Canada, Europe, Africa South America, and South East Asia. It has investments in Jiangsu Chemstar Industries Co. and a shareholding of 16% in Chemstar Industries.
The registered office of the company is at 717/718, Maker Chamber V, 7th Floor, Nairman Point, Mumbai-400021.
Financials
The company reported a growth in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company rose marginally 7.84% to Rs 159.60 million from Rs 148.00 million in the same quarter last year. Net Sales for the quarter rose marginally52.62% to Rs 1309.50million, while total income for the quarter rose marginally 49.45% to Rs 1312.2million, when compared with the prior year period. It posted earnings of Rs 9.71 a share during the quarter, registering 0.82% decline over previous year period.
Recent Developments
03-MAR-09
Credit rating agency, ICRA assigned LBBB+ rating indicating moderate credit quality to the Rs 650 million fund-based bank limits of the company.