ICICI Direct: Hikal Logs Decent Q2 Performance Despite Deferred Orders  
Technician at Hikal Ltd.’s R&D facility in Gujarat (Image: Company website).

ICICI Direct: Hikal Logs Decent Q2 Performance Despite Deferred Orders  

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Hikal Ltd.’s Q2 FY21 revenues grew a decent 15.8% YoY to Rs 372 crore on the back of 34.1% YoY growth in pharma segment to Rs 279 crore.

Crop protection segment fell 17.9% YoY to Rs 93 crore due to deferral of Rs 40 crore worth of shipment to Q3 FY21.

Ebitda for the quarter came in at Rs 70 crore, up 19.6% YoY (including Covid-19 related expenses of Rs 1.1 crore).

Ebitda margins expanded 58 basis points YoY to 18.8% due to lower staff and other expenses, partly offset by lower gross margins.

Click on the attachment to read the full report:

ICICI Direct Hikal Q2FY21 Result Update.pdf

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