Hikal Limited

BSE:524735 Stock Report

Market Cap: ₹26.8b

Hikal Future Growth

Future criteria checks 4/6

Hikal is forecast to grow earnings and revenue by 102.9% and 11.9% per annum respectively. EPS is expected to grow by 103% per annum. Return on equity is forecast to be 8.5% in 3 years.

Key information

102.9%

Earnings growth rate

102.98%

EPS growth rate

Pharmaceuticals earnings growth16.0%
Revenue growth rate11.9%
Future return on equity8.50%
Analyst coverage

Low

Last updated04 Jul 2026

Recent future growth updates

Recent updates

Narrative Update • Jun 22

524735: Dividend And Board Changes Will Support Future Upside Potential

Analysts have trimmed their price target for Hikal from ₹320 to ₹300, reflecting updated assumptions for slightly lower revenue growth, a softer profit margin outlook, and a higher future P/E multiple. What’s in the News for Hikal Hikal has scheduled a Special or Extraordinary Shareholders Meeting on July 4, 2026, to be conducted via postal ballot in India.
Narrative Update • Jun 04

524735: Board Actions And Dividend Decision Will Support Future Upside Potential

Analysts have kept Hikal's fair value unchanged at ₹320.0 while adjusting underlying assumptions, including a slightly higher discount rate, revised revenue growth and profit margin inputs, and a lower future P/E, which together shape the refreshed price target narrative. What's in the News A board meeting is scheduled for May 27, 2026, at 11:00 IST to review and approve the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026.
Narrative Update • Apr 26

524735: Interim Dividend And Stable Assumptions Will Support Future Upside Potential

Analysts have kept their fair value estimate for Hikal steady at ₹320, reflecting unchanged assumptions around discount rate, revenue growth, profit margin, and future P/E multiples. What's in the News A board meeting is scheduled on February 11, 2026 to consider and approve unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, and to consider an interim dividend on equity shares for FY 2025-26 (company filing).
Narrative Update • Apr 12

524735: Interim Dividend And Steady Assumptions Will Support Bullish Upside Potential

Analysts have maintained their fair value estimate for Hikal at ₹320, citing essentially unchanged assumptions around discount rate, revenue growth, profit margin, and future P/E. This keeps their overall price target view steady.
Narrative Update • Mar 28

524735: Interim Dividend And Stable Assumptions Will Support Bullish Upside Potential

Analysts have kept their fair value estimate for Hikal broadly unchanged at around ₹320, reflecting largely steady assumptions on discount rate, revenue growth, profit margin and future P/E, and signaling no meaningful shift in their overall view of the stock. What's in the News A board meeting is scheduled on February 11, 2026 to consider and approve unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (company filing).
Narrative Update • Mar 13

524735: Interim Dividend And Stable Outlook Will Support Bullish Upside Potential

Analysts have kept their fair value estimate for Hikal steady at ₹320. This points to largely unchanged assumptions around discount rate, revenue growth, profit margin, and future P/E multiple in their latest price target update.
Narrative Update • Feb 26

524735: Interim Dividend And Upcoming Results Will Support Bullish Upside Potential

Analysts have kept their price target on Hikal unchanged at ₹320, reflecting broadly steady views on revenue growth, margins and fair value, with only a small adjustment to the assumed future P/E multiple. What's in the News The Board will meet on February 11, 2026 to consider and approve unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, and to consider an interim dividend for FY 2025-26 (company filing).
Narrative Update • Feb 12

524735: Upcoming Results And Interim Dividend Decision Will Support Future Upside

Analysts have lifted their price target on Hikal to ₹320, reflecting updated assumptions around a lower discount rate, faster revenue growth, a slimmer profit margin, and a higher future P/E multiple. What's in the News Board meeting scheduled on Feb 11, 2026 to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025 (Key Developments).
Narrative Update • Jan 05

524735: Stable Margins And Upcoming Results Will Support Future Dividend Upside

Analysts have kept their fair value estimate for Hikal steady at ₹320.0 per share. This reflects unchanged views on growth, margins, discount rate, and future P/E assumptions used in their price target work.
Narrative Update • Dec 15

524735: Profitability Will Improve As Stable Margins Support Future Dividend Upside

Analysts have modestly reiterated their outlook on Hikal, keeping the average 12 month price target broadly stable around ₹320 per share, as unchanged growth, margin, and valuation assumptions continue to support a steady fair value profile. What's in the News Board meeting scheduled for November 13, 2025, to review and approve standalone and consolidated unaudited financial results for Q2 and H1 FY2025 (company filing) Shareholders at the 37th AGM on September 23, 2025, approved a final dividend of INR 0.80 per equity share of INR 2, taking the total FY2024-25 dividend to INR 1.40 per share (AGM resolution) Valuation Changes Fair Value: Unchanged at approximately ₹320 per share, indicating a stable assessment of intrinsic value.
Narrative Update • Nov 30

524735: Profitability Will Improve As Margins Recover And Regulatory Risks Fade

Analysts have raised their price target for Hikal to ₹320.00, citing improved forecasts for revenue growth and profit margin in addition to a stronger outlook for future profitability. What's in the News A board meeting is scheduled for November 13, 2025, to approve unaudited financial results for the second quarter and half year ended September 30, 2025 (Key Developments).
Narrative Update • Nov 15

524735: Future Margins Will Recover Following Regulatory Facility Improvements

Narrative Update: Hikal Analyst Price Target Adjustment Analysts have decreased their fair value estimate for Hikal from ₹390 to ₹320 due to revised expectations for revenue decline and lower profit margins. What's in the News The United States FDA issued a warning letter to Hikal's drug manufacturing facility in Karnataka following an inspection in February 2025.
Narrative Update • Sep 05

Global Supply Chain Diversification Will Unlock Indian CRAMS Potential

As both net profit margin and consensus revenue growth forecasts for Hikal remained stable, analysts have maintained their fair value estimate with the price target unchanged at ₹390.00. What's in the News Hikal's Board of Directors will meet to consider and approve the standalone and consolidated unaudited financial results for the quarter ended June 30, 2025.
User avatar
New Narrative • Feb 09

New Panoli Facility And Global Expansions Will Strengthen Operations Over Next 2-3 Years

Strategic focus on operating leverage and product mix is set to improve net margins and revenue diversification.

Earnings and Revenue Growth Forecasts

BSE:524735 - Analysts future estimates and past financials data (INR Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
3/31/202821,7061,113N/AN/A1
3/31/202719,0667317702,8991
3/31/202617,126-4881,5393,020N/A
12/31/202517,456-130N/AN/AN/A
9/30/202516,9901011,6253,049N/A
6/30/202518,334633N/AN/AN/A
3/31/202518,5989081,4312,804N/A
12/31/202418,215746N/AN/AN/A
9/30/202418,2147361,0542,526N/A
6/30/202418,034678N/AN/AN/A
3/31/202417,846696-1751,867N/A
12/31/202318,158716N/AN/AN/A
9/30/202319,0848196843,396N/A
6/30/202320,323942N/AN/AN/A
3/31/202320,2307841273,153N/A
12/31/202219,801631N/AN/AN/A
9/30/202219,544819-8911,935N/A
6/30/202218,6471,011N/AN/AN/A
3/31/202219,4271,6052042,937N/A
12/31/202119,7281,907N/AN/AN/A
9/30/202119,2161,8581,1033,413N/A
6/30/202118,2451,687N/AN/AN/A
3/31/202117,2041,3317142,290N/A
12/31/202015,6701,067N/AN/AN/A
9/30/202015,0779481,0512,304N/A
6/30/202014,569742N/AN/AN/A
3/31/202015,0738441,2692,849N/A
12/31/201915,858933N/AN/AN/A
9/30/201915,934943N/A2,203N/A
6/30/201916,6721,124N/AN/AN/A
3/31/201915,8961,031N/A1,856N/A
3/31/201812,961772N/A1,388N/A
3/31/201710,139677N/A1,635N/A
3/31/20169,245412N/A1,856N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 524735 is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (6.9%).

Earnings vs Market: 524735 is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: 524735 is expected to become profitable in the next 3 years.

Revenue vs Market: 524735's revenue (11.9% per year) is forecast to grow faster than the Indian market (11% per year).

High Growth Revenue: 524735's revenue (11.9% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 524735's Return on Equity is forecast to be low in 3 years time (8.5%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/08 11:36
End of Day Share Price 2026/07/08 00:00
Earnings2026/03/31
Annual Earnings2026/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Hikal Limited is covered by 2 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Rohit Bhat360 ONE Capital Market Private Limited
Kameswari V. S. ChavaliFirstCall Research