Hikal Limited (IN:HIKAL)
:HIKAL
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Hikal Limited
(HIKAL)
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Rating:55Neutral
Price Target:
₹160.00
▼(-29.53% Downside)
Action:ReiteratedDate:03/10/26
The score is primarily supported by improving profitability and strong cash generation, but is held back by a notably bearish technical trend (below major moving averages with negative MACD) and limited valuation support given the negative P/E and low dividend yield.
Positive Factors
High gross margins
A 55% TTM gross margin indicates strong pricing power or specialized products. This durable margin buffer helps absorb raw material/energy swings, funds R&D and compliance, and supports sustainable operating profitability even if top-line growth is uneven.
Negative Factors
Inconsistent revenue growth
Historic revenue volatility and only a modest recovery reduce visibility into future topline trends. For a manufacturing/CDMO business, inconsistent orders and demand mix constrain capacity planning, margin sustainability, and the pace at which operating leverage can be realized.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins
A 55% TTM gross margin indicates strong pricing power or specialized products. This durable margin buffer helps absorb raw material/energy swings, funds R&D and compliance, and supports sustainable operating profitability even if top-line growth is uneven.
Read all positive factors
Hikal Limited (HIKAL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹19.22B
Dividend Yield0.58%
Average Volume (3M)34.88K
Price to Earnings (P/E)―
Beta (1Y)1.12
Revenue Growth-6.72%
EPS Growth-86.26%
CountryIN
Employees2,061
SectorBasic Materials
Sector Strength58
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)1.80
Shares Outstanding123,300,750
10 Day Avg. Volume44,586
30 Day Avg. Volume34,881
Financial Highlights & Ratios
PEG Ratio1.79
Price to Book (P/B)3.92
Price to Sales (P/S)2.66
P/FCF Ratio34.59
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)2
Revenue Forecast (FY)₹16.63B
Hikal Limited Business Overview & Revenue Model
Company Description
Hikal Limited, together with its subsidiaries, manufactures and sells various chemical intermediates, specialty chemicals, and active pharma ingredients to pharmaceutical, animal healthcare, biotech, crop protection, and specialty chemicals compan...
How the Company Makes Money
Hikal makes money mainly by manufacturing and supplying specialty chemical products and providing contract/custom manufacturing services to customers in the pharmaceutical and crop protection industries. Its revenue model is largely B2B and typica...
Hikal Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
68
Positive
Cash Flow
65
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 17.34B | 18.60B | 17.69B | 20.05B | 19.26B | 17.07B |
| Gross Profit | 8.45B | 10.22B | 9.05B | 8.62B | 8.83B | 7.70B |
| EBITDA | 2.37B | 3.33B | 2.67B | 2.60B | 3.40B | 3.24B |
| Net Income | -130.00M | 908.00M | 696.02M | 783.82M | 1.60B | 1.33B |
Balance Sheet | ||||||
| Total Assets | 24.00B | 25.29B | 24.87B | 23.85B | 22.13B | 19.13B |
| Cash, Cash Equivalents and Short-Term Investments | 340.00M | 178.00M | 181.93M | 267.30M | 217.09M | 168.06M |
| Total Debt | 7.20B | 7.65B | 8.18B | 7.48B | 6.75B | 6.10B |
| Total Liabilities | 12.11B | 12.67B | 12.99B | 12.52B | 11.45B | 9.80B |
| Stockholders Equity | 11.89B | 12.62B | 11.88B | 11.33B | 10.68B | 9.33B |
Cash Flow | ||||||
| Free Cash Flow | 1.28B | 1.43B | -174.80M | 126.89M | 204.19M | 714.19M |
| Operating Cash Flow | 2.64B | 2.80B | 1.87B | 3.15B | 2.94B | 2.29B |
| Investing Cash Flow | -1.10B | -1.36B | -1.74B | -2.92B | -2.84B | -1.56B |
| Financing Cash Flow | -1.49B | -1.44B | -270.00M | -76.80M | -55.58M | -968.68M |
Hikal Limited Technical Analysis
Negative
227.05
Price Trends
190.19
Negative
211.52
Negative
253.00
Negative
Market Momentum
-9.86
Positive
32.35
Neutral
24.47
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HIKAL, the sentiment is Negative. The current price of 227.05 is above the 20-day moving average (MA) of 175.85, above the 50-day MA of 190.19, and below the 200-day MA of 253.00, indicating a bearish trend. The MACD of -9.86 indicates Positive momentum. The RSI at 32.35 is Neutral, neither overbought nor oversold. The STOCH value of 24.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:HIKAL.
Hikal Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹30.68B | 43.39 | ― | 0.85% | ― | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | ₹19.98B | 2.94 | ― | ― | 25.42% | ― | |
57 Neutral | ₹19.80B | 20.54 | ― | 0.49% | -0.29% | -29.04% | |
55 Neutral | ₹19.22B | -118.51 | ― | 0.58% | -6.72% | -86.26% | |
49 Neutral | ₹16.03B | -18.14 | ― | 0.08% | -2.81% | -444.69% |
* Basic Materials Sector Average
IN:HIKAL
Hikal Limited
155.90
-242.57
-60.88%
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IN:MOREPENLAB
Morepen Laboratories Limited
36.13
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IN:RPGLIFE
RPG Life Sciences Limited
1,855.25
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IN:UNICHEMLAB
Unichem Laboratories Limited
283.80
-414.65
-59.37%
Hikal Limited Corporate Events
Hikal to Close Trading Window Ahead of FY26 Results
Mar 25, 2026
Hikal Limited has announced the closure of its trading window for designated persons and their immediate relatives starting April 1, 2026, in line with SEBI’s Prohibition of Insider Trading Regulations and its internal code of conduct. The w...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.