Hikal Limited — Investor Meet, 17-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Hikal Ltd. reported Q3 FY26 consolidated revenue of INR494 Cr and EBITDA of INR83 Cr, signaling a return to operational profitability. The Board declared an interim dividend of INR0.2/share. The Pharmaceutical segment saw recovery with INR337 Cr revenue and 12.3% EBIT margin, driven by improved capacity and US FDA remediation nearing completion. The Crop Protection segment, with INR157 Cr revenue and 3% EBIT margin, faces pricing pressure but is diversifying into Personal Care, expecting FY27 revenue. New investments in high-potency R&D and pilot plants are operational. Management is optimistic, with the "worst behind us," expecting improved growth and margins from FY27, particularly from Animal Health and new CDMO projects. Capex for FY26 revised to INR150 Cr.