Hikal Limited — PPTs, 11-02-2026: Investor Presentation

Here's a concise, retail-friendly summary:

**1. Business Performance:**

Hikal roared back in Q3 FY26! Consolidated revenue jumped to ₹494 Cr, a 55% QoQ surge, with EBITDA at ₹83 Cr. The Pharma segment revenue hit ₹337 Cr, leading the recovery as regulatory issues are mostly addressed and supplies resume. Crop Protection contributed ₹157 Cr, growing sequentially despite market challenges.

**2. Growth Drivers or Strategy:**

Growth is fueled by strategic moves: new High Potency labs and a pilot plant enhance its CDMO capabilities, especially in Oncology. Geographic expansion for Pharma and diversification into Personal Care/Specialty Chemicals (expected to commercialize in FY27) are key drivers.

**3. Recent Developments:**

The Animal Health business has also moved into commercial volumes.

**4. Key Financial Metrics:**

Q3's net loss of ₹6 Cr was due to a one-time ₹38 Cr exceptional charge for a new labor code (PBT before this was ₹29 Cr). The debt-equity ratio improved to 0.58x.

**5. Management Commentary / Outlook:**

Management sees Q3 as a turning point, with strong quality systems in place. They expect continued momentum into Q4, laying a solid foundation for a stronger FY27 driven by a robust order pipeline and stable costs.