Hikal Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: August 4, 2025, 9:24 am

Quick Insight

Hikal Ltd, operating in the pharmaceuticals sector, currently trades at ₹324, reflecting a market capitalization of ₹3,999 crore and a P/E ratio of 44.0, which indicates a premium valuation relative to its earnings. The company's return on equity (ROE) stands at 7.41%, while its return on capital employed (ROCE) is slightly higher at 9.87%, suggesting moderate efficiency in generating profits. With a healthy operating profit margin (OPM) of 22% and an interest coverage ratio (ICR) of 4.78x, Hikal appears to maintain solid profitability and manageable debt levels, given its borrowings of ₹765 crore against reserves of ₹1,238 crore. However, the cash conversion cycle (CCC) of 124 days could indicate potential liquidity challenges. Despite strong promoter ownership at 68.85%, the relatively low foreign institutional investment (FIIs) at 6.06% and domestic institutional investment (DIIs) at 3.48% may limit broader market confidence. Given these factors, investors should weigh the high valuation against operational efficiency and liquidity metrics before making investment decisions.

Competitors of Hikal Ltd

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Quarterly Result

Last Updated: May 31, 2025, 9:02 am

Below is a detailed analysis of the quarterly data for Hikal Ltd based on the most recent figures (Mar 2025) and their trends compared to the previous period:

• For Sales, as of Mar 2025, the value is 552.00 Cr.. The value appears strong and on an upward trend. It has increased from 448.00 Cr. (Dec 2024) to 552.00 Cr., marking an increase of 104.00 Cr..
• For Expenses, as of Mar 2025, the value is 429.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 376.00 Cr. (Dec 2024) to 429.00 Cr., marking an increase of 53.00 Cr..
• For Operating Profit, as of Mar 2025, the value is 123.00 Cr.. The value appears strong and on an upward trend. It has increased from 72.00 Cr. (Dec 2024) to 123.00 Cr., marking an increase of 51.00 Cr..
• For OPM %, as of Mar 2025, the value is 22.00%. The value appears strong and on an upward trend. It has increased from 16.00% (Dec 2024) to 22.00%, marking an increase of 6.00%.
• For Other Income, as of Mar 2025, the value is 0.00 Cr.. The value appears to be declining and may need further review. It has decreased from 4.00 Cr. (Dec 2024) to 0.00 Cr., marking a decrease of 4.00 Cr..
• For Interest, as of Mar 2025, the value is 18.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 19.00 Cr. (Dec 2024) to 18.00 Cr., marking a decrease of 1.00 Cr..
• For Depreciation, as of Mar 2025, the value is 38.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 33.00 Cr. (Dec 2024) to 38.00 Cr., marking an increase of 5.00 Cr..
• For Profit before tax, as of Mar 2025, the value is 68.00 Cr.. The value appears strong and on an upward trend. It has increased from 24.00 Cr. (Dec 2024) to 68.00 Cr., marking an increase of 44.00 Cr..
• For Tax %, as of Mar 2025, the value is 26.00%. The value appears to be improving (decreasing) as expected. It has decreased from 28.00% (Dec 2024) to 26.00%, marking a decrease of 2.00%.
• For Net Profit, as of Mar 2025, the value is 50.00 Cr.. The value appears strong and on an upward trend. It has increased from 17.00 Cr. (Dec 2024) to 50.00 Cr., marking an increase of 33.00 Cr..
• For EPS in Rs, as of Mar 2025, the value is 4.07. The value appears strong and on an upward trend. It has increased from 1.39 (Dec 2024) to 4.07, marking an increase of 2.68.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Profit & Loss - Annual Report

Last Updated: May 15, 2025, 6:29 am

Growth

Last Updated: Unknown

Balance Sheet

Last Updated: June 16, 2025, 12:01 pm

Below is a detailed analysis of the balance sheet data for Hikal Ltd based on the most recent figures (Mar 2025) and their trends compared to the previous period:

• For Equity Capital, as of Mar 2025, the value is 25.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 25.00 Cr..
• For Reserves, as of Mar 2025, the value is 1,238.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,163.00 Cr. (Mar 2024) to 1,238.00 Cr., marking an increase of 75.00 Cr..
• For Borrowings, as of Mar 2025, the value is 765.00 Cr.. The value appears to be improving (decreasing). Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has decreased from 818.00 Cr. (Mar 2024) to 765.00 Cr., marking a decrease of 53.00 Cr..
• For Other Liabilities, as of Mar 2025, the value is 502.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 482.00 Cr. (Mar 2024) to 502.00 Cr., marking an increase of 20.00 Cr..
• For Total Liabilities, as of Mar 2025, the value is 2,529.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 2,487.00 Cr. (Mar 2024) to 2,529.00 Cr., marking an increase of 42.00 Cr..
• For Fixed Assets, as of Mar 2025, the value is 1,364.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,071.00 Cr. (Mar 2024) to 1,364.00 Cr., marking an increase of 293.00 Cr..
• For CWIP, as of Mar 2025, the value is 121.00 Cr.. The value appears to be declining and may need further review. It has decreased from 414.00 Cr. (Mar 2024) to 121.00 Cr., marking a decrease of 293.00 Cr..
• For Investments, as of Mar 2025, the value is 10.00 Cr.. The value appears strong and on an upward trend. It has increased from 5.00 Cr. (Mar 2024) to 10.00 Cr., marking an increase of 5.00 Cr..
• For Other Assets, as of Mar 2025, the value is 1,034.00 Cr.. The value appears strong and on an upward trend. It has increased from 997.00 Cr. (Mar 2024) to 1,034.00 Cr., marking an increase of 37.00 Cr..
• For Total Assets, as of Mar 2025, the value is 2,529.00 Cr.. The value appears strong and on an upward trend. It has increased from 2,487.00 Cr. (Mar 2024) to 2,529.00 Cr., marking an increase of 42.00 Cr..

Notably, the Reserves (1,238.00 Cr.) exceed the Borrowings (765.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Cash Flow

Free Cash Flow

Share Holding Pattern

Mutual Fund Holdings

Key Financial Ratios

After reviewing the key financial ratios for Hikal Ltd, here is a detailed analysis based on the latest available data and recent trends:

• For FaceValue, as of Mar 24, the value is 2.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 2.00.
• For Basic EPS (Rs.), as of Mar 24, the value is 5.64. This value is within the healthy range. It has decreased from 6.36 (Mar 23) to 5.64, marking a decrease of 0.72.
• For Diluted EPS (Rs.), as of Mar 24, the value is 5.64. This value is within the healthy range. It has decreased from 6.36 (Mar 23) to 5.64, marking a decrease of 0.72.
• For Cash EPS (Rs.), as of Mar 24, the value is 15.18. This value is within the healthy range. It has decreased from 15.20 (Mar 23) to 15.18, marking a decrease of 0.02.
• For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 96.32. It has increased from 91.93 (Mar 23) to 96.32, marking an increase of 4.39.
• For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 96.32. It has increased from 91.93 (Mar 23) to 96.32, marking an increase of 4.39.
• For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 144.74. It has decreased from 164.07 (Mar 23) to 144.74, marking a decrease of 19.33.
• For PBDIT / Share (Rs.), as of Mar 24, the value is 21.86. This value is within the healthy range. It has increased from 21.29 (Mar 23) to 21.86, marking an increase of 0.57.
• For PBIT / Share (Rs.), as of Mar 24, the value is 12.32. This value is within the healthy range. It has decreased from 12.45 (Mar 23) to 12.32, marking a decrease of 0.13.
• For PBT / Share (Rs.), as of Mar 24, the value is 7.75. This value is within the healthy range. It has decreased from 8.55 (Mar 23) to 7.75, marking a decrease of 0.80.
• For Net Profit / Share (Rs.), as of Mar 24, the value is 5.64. This value is within the healthy range. It has decreased from 6.36 (Mar 23) to 5.64, marking a decrease of 0.72.
• For NP After MI And SOA / Share (Rs.), as of Mar 24, the value is 5.64. This value is within the healthy range. It has decreased from 6.36 (Mar 23) to 5.64, marking a decrease of 0.72.
• For PBDIT Margin (%), as of Mar 24, the value is 15.10. This value is within the healthy range. It has increased from 12.97 (Mar 23) to 15.10, marking an increase of 2.13.
• For PBIT Margin (%), as of Mar 24, the value is 8.51. This value is below the healthy minimum of 10. It has increased from 7.58 (Mar 23) to 8.51, marking an increase of 0.93.
• For PBT Margin (%), as of Mar 24, the value is 5.35. This value is below the healthy minimum of 10. It has increased from 5.20 (Mar 23) to 5.35, marking an increase of 0.15.
• For Net Profit Margin (%), as of Mar 24, the value is 3.90. This value is below the healthy minimum of 5. It has increased from 3.87 (Mar 23) to 3.90, marking an increase of 0.03.
• For NP After MI And SOA Margin (%), as of Mar 24, the value is 3.90. This value is below the healthy minimum of 8. It has increased from 3.87 (Mar 23) to 3.90, marking an increase of 0.03.
• For Return on Networth / Equity (%), as of Mar 24, the value is 5.86. This value is below the healthy minimum of 15. It has decreased from 6.91 (Mar 23) to 5.86, marking a decrease of 1.05.
• For Return on Capital Employeed (%), as of Mar 24, the value is 8.77. This value is below the healthy minimum of 10. It has decreased from 8.90 (Mar 23) to 8.77, marking a decrease of 0.13.
• For Return On Assets (%), as of Mar 24, the value is 2.79. This value is below the healthy minimum of 5. It has decreased from 3.28 (Mar 23) to 2.79, marking a decrease of 0.49.
• For Long Term Debt / Equity (X), as of Mar 24, the value is 0.35. This value is within the healthy range. It has decreased from 0.43 (Mar 23) to 0.35, marking a decrease of 0.08.
• For Total Debt / Equity (X), as of Mar 24, the value is 0.68. This value is within the healthy range. It has increased from 0.65 (Mar 23) to 0.68, marking an increase of 0.03.
• For Asset Turnover Ratio (%), as of Mar 24, the value is 0.73. It has decreased from 0.87 (Mar 23) to 0.73, marking a decrease of 0.14.
• For Current Ratio (X), as of Mar 24, the value is 1.28. This value is below the healthy minimum of 1.5. It has decreased from 1.42 (Mar 23) to 1.28, marking a decrease of 0.14.
• For Quick Ratio (X), as of Mar 24, the value is 0.87. This value is below the healthy minimum of 1. It has decreased from 0.94 (Mar 23) to 0.87, marking a decrease of 0.07.
• For Inventory Turnover Ratio (X), as of Mar 24, the value is 2.60. This value is below the healthy minimum of 4. It has decreased from 3.47 (Mar 23) to 2.60, marking a decrease of 0.87.
• For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is 21.25. This value is within the healthy range. It has increased from 15.73 (Mar 23) to 21.25, marking an increase of 5.52.
• For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is 7.90. This value is below the healthy minimum of 20. It has increased from 6.57 (Mar 23) to 7.90, marking an increase of 1.33.
• For Earning Retention Ratio (%), as of Mar 24, the value is 78.75. This value exceeds the healthy maximum of 70. It has decreased from 84.27 (Mar 23) to 78.75, marking a decrease of 5.52.
• For Cash Earning Retention Ratio (%), as of Mar 24, the value is 92.10. This value exceeds the healthy maximum of 70. It has decreased from 93.43 (Mar 23) to 92.10, marking a decrease of 1.33.
• For Interest Coverage Ratio (X), as of Mar 24, the value is 4.78. This value is within the healthy range. It has decreased from 5.46 (Mar 23) to 4.78, marking a decrease of 0.68.
• For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 2.23. This value is below the healthy minimum of 3. It has decreased from 2.63 (Mar 23) to 2.23, marking a decrease of 0.40.
• For Enterprise Value (Cr.), as of Mar 24, the value is 4,058.84. It has decreased from 4,164.23 (Mar 23) to 4,058.84, marking a decrease of 105.39.
• For EV / Net Operating Revenue (X), as of Mar 24, the value is 2.27. This value is within the healthy range. It has increased from 2.06 (Mar 23) to 2.27, marking an increase of 0.21.
• For EV / EBITDA (X), as of Mar 24, the value is 15.06. This value exceeds the healthy maximum of 15. It has decreased from 15.87 (Mar 23) to 15.06, marking a decrease of 0.81.
• For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 1.83. This value is within the healthy range. It has increased from 1.72 (Mar 23) to 1.83, marking an increase of 0.11.
• For Retention Ratios (%), as of Mar 24, the value is 78.74. This value exceeds the healthy maximum of 70. It has decreased from 84.26 (Mar 23) to 78.74, marking a decrease of 5.52.
• For Price / BV (X), as of Mar 24, the value is 2.75. This value is within the healthy range. It has decreased from 3.07 (Mar 23) to 2.75, marking a decrease of 0.32.
• For Price / Net Operating Revenue (X), as of Mar 24, the value is 1.83. This value is within the healthy range. It has increased from 1.72 (Mar 23) to 1.83, marking an increase of 0.11.
• For EarningsYield, as of Mar 24, the value is 0.02. This value is below the healthy minimum of 5. There is no change compared to the previous period (Mar 23) which recorded 0.02.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Fair Value

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Strength and Weakness