About
Hikal Limited, together with its subsidiaries, manufactures and sells various chemical intermediates, specialty chemicals, and active pharma ingredients to pharmaceutical, biotechnology, life sciences, animal health, crop protection, and specialty chemicals indusries. It operates through two segments, Pharmaceuticals and Crop Protection. The company also manufactures pesticides and herbicides, which include diuron tech, temephos tech, thiacloprid tech, clothianidin tech, dichloroaniline, N-bromosuccinimide, prothioconazole technical, trifloxystrobin technical, and BIT. In addition, it offers solutions in contract research, custom synthesis, and custom manufacturing of intermediates and active ingredients. Further, the company provides anti-convulsant, anti-inflammatory, analgesic, Anti-parasitic, anti-lipemic, anti-histaminic, anti-depressant, anti-psychotic, anti-emetic, anti-diabetic, anti-thrombotic, Anti-viral, anti-hypertensive, and Haemorheologic; animal health products, such as anti-tick, anti-parasitic, analgesic, anabolic steroids, female sex hormone, insecticide, and NSAID; and specialty biocides and antimicrobial actives, as well as additives for leather, paint coatings, paper, water treatment, personal care, building materials, and textile industries. The company also exports its products. It operates in India, the United States, Canada, Europe, South East Asia, and internationally. The company was formerly known as Hikal Chemical Industries Ltd. and changed its name to Hikal Limited in April 2000. Hikal Limited was incorporated in 1988 and is headquartered in Navi Mumbai, India.
Key Metrics
as of Sep 2026Market Cap2,731 Cr
P/E64.40
Div Yield0.27 %
Book Value₹97.20
52w High₹283.00
52w Low₹146.00
Face Value₹2.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 402.80 | 519.40 | 494.30 | 318.50 | 380.40 | 552.40 | 447.70 | 452.90 | 406.80 | 514.10 | 447.50 | 434.88 | 388.00 |
| Expenses | 365.80 | 414.00 | 411.60 | 311.30 | 355.30 | 429.00 | 375.60 | 378.00 | 348.80 | 419.70 | 382.80 | 377.36 | 337.70 |
| Operating Profit | 37.00 | 105.40 | 82.70 | 7.20 | 25.10 | 123.40 | 72.10 | 74.90 | 58.00 | 94.40 | 64.70 | 57.52 | 50.30 |
| OPM % | 9.19 | 20.29 | 16.73 | 2.26 | 6.60 | 22.34 | 16.10 | 16.54 | 14.26 | 18.36 | 14.46 | 13.23 | 12.96 |
| Other Income | 10.70 | -40.50 | -35.20 | 1.90 | 1.00 | 0.50 | 3.60 | 0.40 | 0.50 | 0.50 | 0.10 | 0.99 | 0.90 |
| Depreciation | 42.70 | 42.00 | 41.20 | 41.20 | 39.40 | 37.70 | 33.20 | 31.70 | 31.80 | 32.30 | 29.00 | 28.57 | 27.70 |
| Interest | 14.90 | 14.60 | 15.50 | 14.90 | 17.10 | 17.90 | 18.70 | 18.80 | 19.80 | 15.30 | 14.20 | 13.08 | 13.80 |
| Profit before tax | -9.90 | 8.30 | -9.20 | -47.00 | -30.40 | 68.30 | 23.80 | 24.80 | 6.90 | 47.30 | 21.60 | 16.86 | 9.70 |
| Tax % | -25.25 | -73.49 | -35.87 | -25.74 | -26.32 | 26.50 | 27.73 | 26.21 | 26.09 | 28.33 | 25.46 | 25.44 | 28.87 |
| Net Profit | -7.40 | 14.40 | -5.90 | -34.90 | -22.40 | 50.20 | 17.20 | 18.30 | 5.10 | 33.90 | 16.10 | 12.57 | 6.90 |
| EPS in Rs | -0.60 | 1.17 | -0.48 | -2.83 | -1.82 | 4.07 | 1.39 | 1.48 | 0.41 | 2.75 | 1.31 | 1.02 | 0.56 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,713.00 | 1,860.00 | 1,785.00 | 2,023.00 | 1,943.00 | 1,720.00 | 1,507.00 | 1,590.00 | 1,296.00 | 1,014.00 | 926.00 | 872.00 |
| Expenses | 1,492.00 | 1,531.00 | 1,518.00 | 1,765.00 | 1,602.00 | 1,398.00 | 1,234.00 | 1,291.00 | 1,054.00 | 813.00 | 745.00 | 689.00 |
| Operating Profit | 220.00 | 328.00 | 267.00 | 258.00 | 341.00 | 323.00 | 273.00 | 298.00 | 242.00 | 201.00 | 181.00 | 182.00 |
| OPM % | 13.00 | 18.00 | 15.00 | 13.00 | 18.00 | 19.00 | 18.00 | 19.00 | 19.00 | 20.00 | 20.00 | 21.00 |
| Other Income | -73.00 | 5.00 | 2.00 | 5.00 | 5.00 | 5.00 | -12.00 | 2.00 | 4.00 | -3.00 | 2.00 | 2.00 |
| Interest | 62.00 | 75.00 | 56.00 | 48.00 | 31.00 | 36.00 | 52.00 | 58.00 | 49.00 | 48.00 | 62.00 | 60.00 |
| Depreciation | 164.00 | 134.00 | 118.00 | 109.00 | 96.00 | 85.00 | 82.00 | 93.00 | 86.00 | 69.00 | 67.00 | 64.00 |
| Profit before tax | -78.00 | 124.00 | 96.00 | 105.00 | 219.00 | 206.00 | 127.00 | 149.00 | 112.00 | 80.00 | 53.00 | 60.00 |
| Tax % | -38.00 | 27.00 | 27.00 | 26.00 | 27.00 | 36.00 | 33.00 | 31.00 | 31.00 | 16.00 | 23.00 | 32.00 |
| Net Profit | -49.00 | 91.00 | 70.00 | 78.00 | 160.00 | 133.00 | 84.00 | 103.00 | 77.00 | 68.00 | 41.00 | 40.00 |
| EPS in Rs | -3.96 | 7.36 | 5.64 | 6.36 | 13.02 | 10.80 | 6.85 | 8.36 | 6.26 | 5.49 | 3.34 | 3.28 |
| Dividend Payout % | -15.00 | 19.00 | 21.00 | 19.00 | 12.00 | 19.00 | 18.00 | 14.00 | 13.00 | 15.00 | 20.00 | 20.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 25.00 | 25.00 | 25.00 | 25.00 | 25.00 | 25.00 | 25.00 | 25.00 | 16.00 | 16.00 | 16.00 | 16.00 |
| Reserves | 1,174.00 | 1,238.00 | 1,163.00 | 1,109.00 | 1,043.00 | 909.00 | 792.00 | 732.00 | 653.00 | 589.00 | 547.00 | 516.00 |
| Borrowings | 684.00 | 765.00 | 818.00 | 748.00 | 675.00 | 610.00 | 646.00 | 661.00 | 635.00 | 598.00 | 505.00 | 547.00 |
| Other Liabilities | 483.00 | 502.00 | 482.00 | 504.00 | 470.00 | 370.00 | 306.00 | 268.00 | 237.00 | 177.00 | 206.00 | 212.00 |
| Total Liabilities | 2,365.00 | 2,529.00 | 2,487.00 | 2,385.00 | 2,213.00 | 1,913.00 | 1,768.00 | 1,686.00 | 1,542.00 | 1,379.00 | 1,275.00 | 1,292.00 |
| Fixed Assets | 1,333.00 | 1,364.00 | 1,071.00 | 948.00 | 879.00 | 713.00 | 735.00 | 713.00 | 634.00 | 668.00 | 623.00 | 639.00 |
| CWIP | 94.00 | 121.00 | 414.00 | 412.00 | 295.00 | 254.00 | 161.00 | 79.00 | 118.00 | 63.00 | 66.00 | 62.00 |
| Investments | 10.00 | 10.00 | 5.00 | 5.00 | 11.00 | 1.00 | 1.00 | 1.00 | 3.00 | 4.00 | 3.00 | 3.00 |
| Other Assets | 928.00 | 1,034.00 | 997.00 | 1,020.00 | 1,028.00 | 946.00 | 871.00 | 893.00 | 788.00 | 645.00 | 583.00 | 588.00 |
| Total Assets | 2,365.00 | 2,529.00 | 2,487.00 | 2,385.00 | 2,213.00 | 1,913.00 | 1,768.00 | 1,686.00 | 1,542.00 | 1,379.00 | 1,275.00 | 1,292.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 302.00 | 280.00 | 187.00 | 315.00 | 294.00 | 229.00 | 285.00 | 186.00 | 139.00 | 163.00 | 186.00 | 102.00 |
| Cash from Investing Activity | -145.00 | -136.00 | -174.00 | -292.00 | -284.00 | -156.00 | -164.00 | -125.00 | -110.00 | -102.00 | -64.00 | -43.00 |
| Cash from Financing Activity | -160.00 | -144.00 | -27.00 | -8.00 | -6.00 | -97.00 | -101.00 | -55.00 | -25.00 | -63.00 | -124.00 | -69.00 |
| Net Cash Flow | -3.00 | 0.00 | -14.00 | 15.00 | 4.00 | -24.00 | 20.00 | 6.00 | 4.00 | -2.00 | -2.00 | -10.00 |
| Free Cash Flow | 154.00 | 144.00 | -17.00 | 13.00 | 21.00 | 71.00 | 127.00 | 57.00 | 33.00 | 58.00 | 127.00 | 54.00 |
| CFO/OP % | 144.00 | 94.00 | 81.00 | 134.00 | 107.00 | 85.00 | 113.00 | 73.00 | 68.00 | 91.00 | 110.00 | 63.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 94.00 | 103.00 | 113.00 | 80.00 | 82.00 | 103.00 | 82.00 | 80.00 | 81.00 | 92.00 | 44.00 | 54.00 |
| Inventory Days | 172.00 | 146.00 | 134.00 | 104.00 | 121.00 | 107.00 | 147.00 | 156.00 | 158.00 | 189.00 | 229.00 | 268.00 |
| Days Payable | 128.00 | 133.00 | 123.00 | 103.00 | 91.00 | 92.00 | 95.00 | 68.00 | 86.00 | 93.00 | 101.00 | 117.00 |
| Cash Conversion Cycle | 138.00 | 116.00 | 124.00 | 81.00 | 112.00 | 118.00 | 135.00 | 168.00 | 153.00 | 188.00 | 173.00 | 205.00 |
| Working Capital Days | 41.00 | 37.00 | 39.00 | 39.00 | 26.00 | 39.00 | 28.00 | 45.00 | 29.00 | 43.00 | 29.00 | -13.00 |
| ROCE % | 4.00 | 10.00 | 8.00 | 8.00 | 15.00 | 16.00 | 14.00 | 15.00 | 13.00 | 12.00 | 11.00 | 11.00 |
Corporate Actions
46 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 17 Feb 2026 | 17 Feb 2026 | — | 0.20 | |
| Dividend | 02 Sep 2025 | 02 Sep 2025 | — | 0.80 | |
| Dividend | 07 Feb 2025 | 08 Feb 2025 | — | 0.60 | |
| Other | 10 Sep 2024 | — | — | — | Annual General Meeting |
| Dividend | 04 Sep 2024 | 04 Sep 2024 | — | 0.60 | |
| Dividend | 20 Feb 2024 | 20 Feb 2024 | — | 0.60 | |
| Dividend | 18 Sep 2023 | — | — | 0.60 | |
| Dividend | 14 Feb 2023 | 14 Feb 2023 | — | 0.60 | |
| Dividend | 14 Sep 2022 | 15 Sep 2022 | — | 0.40 | |
| Other | 14 Sep 2022 | — | — | — | Annual General Meeting |
| Dividend | 23 Feb 2022 | 24 Feb 2022 | — | 1.20 | |
| Dividend | 25 Aug 2021 | 26 Aug 2021 | — | 1.00 | |
| Dividend | 15 Feb 2021 | 16 Feb 2021 | — | 1.00 | |
| Dividend | 07 Sep 2020 | — | — | 0.20 | |
| Dividend | 17 Feb 2020 | 18 Feb 2020 | — | 1.00 | |
| Dividend | 23 Jul 2019 | — | — | 0.60 | |
| Dividend | 13 Feb 2019 | 14 Feb 2019 | — | 0.60 | |
| Dividend | 31 Jul 2018 | — | — | 0.50 | |
| Bonus | 22 Jun 2018 | 25 Jun 2018 | 1:2 | — | |
| Dividend | 21 Feb 2018 | 22 Feb 2018 | — | 0.70 | |
| Dividend | 02 Aug 2017 | — | — | 0.60 | |
| Dividend | 13 Feb 2017 | 14 Feb 2017 | — | 0.60 | |
| Dividend | 02 Aug 2016 | — | — | 0.50 | |
| Dividend | 17 May 2016 | 18 May 2016 | — | 0.50 | |
| Dividend | 04 Aug 2015 | — | — | 0.50 | |
| Dividend | 18 May 2015 | 19 May 2015 | — | 0.50 | |
| Split | 27 Feb 2015 | 02 Mar 2015 | 10:2 | — | |
| Dividend | 14 Aug 2014 | — | — | 2.50 | |
| Dividend | 18 Feb 2014 | 20 Feb 2014 | — | 2.00 | |
| Dividend | 13 Aug 2013 | — | — | 2.50 | |
| Dividend | 14 Aug 2012 | — | — | 6.00 | |
| Dividend | 09 Aug 2011 | — | — | 3.00 | |
| Dividend | 24 May 2011 | 25 May 2011 | — | 3.00 | |
| Dividend | 09 Aug 2010 | — | — | 4.00 | |
| Dividend | 11 May 2010 | 12 May 2010 | — | 4.00 | |
| Other | 17 Aug 2009 | — | — | — | Annual General Meeting |
| Dividend | 11 Aug 2008 | — | — | 4.00 | NSE/BSE dividend mismatch: NSE=0.8; BSE=4.0 |
| Dividend | 11 Aug 2008 | — | — | 0.80 | NSE/BSE dividend mismatch: NSE=0.8; BSE=4.0 |
| Dividend | 31 Jan 2008 | 01 Feb 2008 | — | 3.00 | NSE/BSE dividend mismatch: NSE=0.6; BSE=3.0 |
| Dividend | 31 Jan 2008 | 01 Feb 2008 | — | 0.60 | NSE/BSE dividend mismatch: NSE=0.6; BSE=3.0 |
| Dividend | 13 Aug 2007 | — | — | 3.50 | |
| Dividend | 14 Feb 2007 | 15 Feb 2007 | — | 0.60 | |
| Dividend | 11 Aug 2006 | — | — | 3.50 | |
| Dividend | 16 Aug 2005 | — | — | 0.70 | |
| Dividend | 02 Nov 2001 | 17 Nov 2001 | — | 2.00 | |
| Dividend | 25 Jun 2001 | — | — | 5.00 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update19 Feb from icra
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Rating update24 Nov 2025 from icra
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Rating update19 Aug 2025 from icra
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Rating update9 Apr 2025 from icra
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Rating update4 Mar 2024 from icra
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Rating update3 Apr 2023 from icra
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