Announcement • Jul 23
Hester Biosciences Limited to Report Q1, 2027 Results on Jul 30, 2026 Hester Biosciences Limited announced that they will report Q1, 2027 results on Jul 30, 2026 New Risk • Jul 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (49% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.3% average weekly change). Valuation Update With 7 Day Price Move • Jul 13
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹2,545, the stock trades at a trailing P/E ratio of 38.7x. Average trailing P/E is 31x in the Biotechs industry in Asia. Total returns to shareholders of 50% over the past three years. Upcoming Dividend • Jul 07
Upcoming dividend of ₹11.00 per share Eligible shareholders must have bought the stock before 14 July 2026. Payment date: 20 August 2026. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (1.2%). Board Change • Jul 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 3 highly experienced directors. Non-Executive & Independent Director Jatin Trivedi was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jun 23
Full year 2026 earnings released: EPS: ₹65.41 (vs ₹32.31 in FY 2025) Full year 2026 results: EPS: ₹65.41 (up from ₹32.31 in FY 2025). Revenue: ₹3.34b (up 6.9% from FY 2025). Net income: ₹556.4m (up 102% from FY 2025). Profit margin: 17% (up from 8.8% in FY 2025). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Jun 18
Hester Biosciences Limited, Annual General Meeting, Jul 21, 2026 Hester Biosciences Limited, Annual General Meeting, Jul 21, 2026, at 10:30 Indian Standard Time. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹2,156, the stock trades at a trailing P/E ratio of 32.9x. Average trailing P/E is 34x in the Biotechs industry in Asia. Total returns to shareholders of 32% over the past three years. Reported Earnings • May 20
Full year 2026 earnings released: EPS: ₹67.57 (vs ₹32.31 in FY 2025) Full year 2026 results: EPS: ₹67.57 (up from ₹32.31 in FY 2025). Revenue: ₹3.42b (up 9.5% from FY 2025). Net income: ₹556.4m (up 102% from FY 2025). Profit margin: 16% (up from 8.8% in FY 2025). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Mar 12
Ticop Life Private Limited entered into an agreement to acquire an additional 43.81% stake in Texas Laboratories from Hester Biosciences Limited (BSE:524669) for INR 92 million. Ticop Life Private Limited entered into an agreement to acquire an additional 43.81% stake in Texas Laboratories from Hester Biosciences Limited (BSE:524669) for INR 92 million on March 5, 2026. A cash consideration of INR 92 million will be paid by Ticop Life Private Limited. The aggregate consideration value of INR 92 million is subject to terms and conditions of agreement. Following the completion Hester Biosciences Limited shareholding will reduce from 54.81% to 11% stake in Texas.
For the period ending March 31, 2025, Texas Laboratories reported total revenue of INR 285.89 million. As of March 31, 2025, Texas Laboratories reported total common equity of INR 134.17 million.
The deal has been approved by Hester Biosciences Limited board.
The transfer of shares shall be completed within a period of 3 months from the date of agreement. Reported Earnings • Jan 31
Third quarter 2026 earnings released: EPS: ₹10.94 (vs ₹13.41 in 3Q 2025) Third quarter 2026 results: EPS: ₹10.94 (down from ₹13.41 in 3Q 2025). Revenue: ₹774.2m (up 9.0% from 3Q 2025). Net income: ₹87.7m (down 25% from 3Q 2025). Profit margin: 11% (down from 16% in 3Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Jan 24
Hester Biosciences Limited Receives the Manufacturing License from the Food & Drugs Control Administration Hester Biosciences Limited has received the manufacturing license from the Food & Drugs Control Administration to manufacture and market the Low Pathogenic Avian Influenza Vaccine, Inactivated H9N2 strain for poultry. Low Pathogenic Avian Influenza H9N2 strain has been a persistent challenge in poultry flocks and is known to cause year-round comorbidity, leading to significant economic losses. H9N2 can lead to an irreversible drop in egg production in layers and performance loss in broilers. It can also lead to high mortality in the presence of other infections. This license is a key regulatory milestone in advancing Hester's prevention-led poultry healthcare portfolio. This vaccine has been developed from technology acquired from ICAR-NIHSAD via Agrinnovate India. Announcement • Jan 21
Hester Biosciences Limited to Report Q3, 2026 Results on Jan 30, 2026 Hester Biosciences Limited announced that they will report Q3, 2026 results on Jan 30, 2026 Reported Earnings • Nov 13
Second quarter 2026 earnings released: EPS: ₹16.85 (vs ₹9.86 in 2Q 2025) Second quarter 2026 results: EPS: ₹16.85 (up from ₹9.86 in 2Q 2025). Revenue: ₹807.0m (down 5.7% from 2Q 2025). Net income: ₹144.5m (up 76% from 2Q 2025). Profit margin: 18% (up from 9.6% in 2Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹2,194, the stock trades at a trailing P/E ratio of 67.6x. Average trailing P/E is 56x in the Biotechs industry in India. Total loss to shareholders of 7.7% over the past three years. Upcoming Dividend • Jul 30
Upcoming dividend of ₹7.00 per share Eligible shareholders must have bought the stock before 06 August 2025. Payment date: 12 September 2025. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (1.0%). Reported Earnings • Jul 16
Full year 2025 earnings released: EPS: ₹32.31 (vs ₹22.20 in FY 2024) Full year 2025 results: EPS: ₹32.31 (up from ₹22.20 in FY 2024). Revenue: ₹3.12b (flat on FY 2024). Net income: ₹274.9m (up 46% from FY 2024). Profit margin: 8.8% (up from 6.1% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • May 11
Full year 2025 earnings released: EPS: ₹33.89 (vs ₹22.20 in FY 2024) Full year 2025 results: EPS: ₹33.89 (up from ₹22.20 in FY 2024). Revenue: ₹3.15b (up 1.2% from FY 2024). Net income: ₹274.9m (up 46% from FY 2024). Profit margin: 8.7% (up from 6.1% in FY 2024). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year and the company’s share price has also fallen by 11% per year. Announcement • May 02
Hester Biosciences Limited to Report Q4, 2025 Results on May 09, 2025 Hester Biosciences Limited announced that they will report Q4, 2025 results on May 09, 2025 Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to ₹1,787, the stock trades at a trailing P/E ratio of 48.9x. Average trailing P/E is 49x in the Biotechs industry in India. Total loss to shareholders of 33% over the past three years. Reported Earnings • Jan 31
Third quarter 2025 earnings released: EPS: ₹13.41 (vs ₹4.73 in 3Q 2024) Third quarter 2025 results: EPS: ₹13.41 (up from ₹4.73 in 3Q 2024). Revenue: ₹710.3m (up 4.5% from 3Q 2024). Net income: ₹116.6m (up 193% from 3Q 2024). Profit margin: 16% (up from 5.9% in 3Q 2024). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Jan 22
Hester Biosciences Limited to Report Q3, 2025 Results on Jan 30, 2025 Hester Biosciences Limited announced that they will report Q3, 2025 results on Jan 30, 2025 Announcement • Dec 24
Hester Biosciences Limited Announces Resignation of Ram Prakash as Chief Operating Officer Hester Biosciences Limited announced that Dr. Ram Prakash, Chief Operating Officer (COO) categorised as Senior Management Personnel) of the Company, has submitted his resignation as COO, with effect from the close of the office hours on 23 December 2024, due to personnel reason. Reported Earnings • Oct 29
Second quarter 2025 earnings released: EPS: ₹9.86 (vs ₹4.75 in 2Q 2024) Second quarter 2025 results: EPS: ₹9.86 (up from ₹4.75 in 2Q 2024). Revenue: ₹855.3m (up 14% from 2Q 2024). Net income: ₹82.0m (up 101% from 2Q 2024). Profit margin: 9.6% (up from 5.5% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Oct 21
Hester Biosciences Limited to Report First Half, 2025 Results on Oct 28, 2024 Hester Biosciences Limited announced that they will report first half, 2025 results on Oct 28, 2024 Upcoming Dividend • Aug 15
Upcoming dividend of ₹6.00 per share Eligible shareholders must have bought the stock before 22 August 2024. Payment date: 28 September 2024. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.1%). Lower than average of industry peers (1.2%). New Risk • Aug 04
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 20% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (20% operating cash flow to total debt). Earnings have declined by 11% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (9.6% average weekly change). Reported Earnings • Jul 28
Full year 2024 earnings released: EPS: ₹22.20 (vs ₹31.30 in FY 2023) Full year 2024 results: EPS: ₹22.20 (down from ₹31.30 in FY 2023). Revenue: ₹3.11b (up 12% from FY 2023). Net income: ₹188.9m (down 29% from FY 2023). Profit margin: 6.1% (down from 9.6% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Jul 26
Hester Biosciences Limited, Annual General Meeting, Aug 29, 2024 Hester Biosciences Limited, Annual General Meeting, Aug 29, 2024, at 10:30 Indian Standard Time. Announcement • Jul 25
Hester Biosciences Limited to Report Q1, 2025 Results on Aug 02, 2024 Hester Biosciences Limited announced that they will report Q1, 2025 results on Aug 02, 2024 Reported Earnings • May 12
Full year 2024 earnings released: EPS: ₹24.88 (vs ₹31.30 in FY 2023) Full year 2024 results: EPS: ₹24.88 (down from ₹31.30 in FY 2023). Revenue: ₹3.15b (up 13% from FY 2023). Net income: ₹188.9m (down 29% from FY 2023). Profit margin: 6.0% (down from 9.6% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Announcement • May 11
Hester Biosciences Limited Proposes Dividend for the Financial Year 2023- 24 Hester Biosciences Limited at its board meeting held on 10 May 2024, recommended dividend of INR 6 per equity share of INR 10 each for the financial year 2023-24, subject to approval of members at the ensuing Annual General Meeting. Announcement • May 05
Hester Biosciences Limited to Report Q4, 2024 Results on May 10, 2024 Hester Biosciences Limited announced that they will report Q4, 2024 results on May 10, 2024 Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹1,628, the stock trades at a trailing P/E ratio of 74.9x. Average trailing P/E is 35x in the Biotechs industry in India. Total loss to shareholders of 18% over the past three years. Announcement • Feb 29
Hester Biosciences Limited Announces Executive Changes Hester Biosciences Limited informed that Mr. Sanjay Dalal, Chief Operating Officer, has stepped down from the current role effective from close of business hours of 29 February 2024, consequent to completion of his term in the Company and Dr. Ram Prakash, currently serving as Senior Vice President - Sales and Marketing (categorised as SMP), will assume the role of Chief Operating Officer, commencing 1 March 2024. Dr. Ram Prakash is a seasoned professional in the animal health industry with a rich experience spanning over 23 years in India and on the global stage. His diverse roles have encompassed key areas such as sales and marketing, business development, research, development & licensing (RDL), and mergers and acquisitions (M&A). Dr. Ram Prakash's career began as a Sales Manager at GlaxoSmithKline Pharmaceuticals, and he has since achieved considerable success.During his critical role as Vice President at Virbac, he was instrumental in developing strategic roadmaps and successfully implementing them using his cross-functional experience. In March 23, Dr. Ram Prakash joined Hester Biosciences, further leveraging his extensiveknowledge and skills to contribute to the company's growth and success. Dr. Ram Prakash holds a bachelor's degree in veterinary science and animal husbandry from the College of Veterinary Science, Tirupati. Reported Earnings • Feb 03
Third quarter 2024 earnings released: EPS: ₹4.73 (vs ₹14.29 in 3Q 2023) Third quarter 2024 results: EPS: ₹4.73 (down from ₹14.29 in 3Q 2023). Revenue: ₹679.7m (down 14% from 3Q 2023). Net income: ₹39.8m (down 64% from 3Q 2023). Profit margin: 5.9% (down from 14% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 08
Second quarter 2024 earnings released: EPS: ₹4.75 (vs ₹7.77 in 2Q 2023) Second quarter 2024 results: EPS: ₹4.75 (down from ₹7.77 in 2Q 2023). Revenue: ₹748.1m (down 3.6% from 2Q 2023). Net income: ₹40.9m (down 41% from 2Q 2023). Profit margin: 5.5% (down from 8.9% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 2% per year. Upcoming Dividend • Sep 06
Upcoming dividend of ₹8.00 per share at 0.5% yield Eligible shareholders must have bought the stock before 13 September 2023. Payment date: 25 September 2023. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (1.2%). Announcement • Aug 23
Hester Biosciences Limited Recommends Dividend for the Financial Year 2022-23, Dividend Payment Date on or After Monday, 25 September 2023 Hester Biosciences Limited recommended a dividend of INR 8 per equity share (80%) on 8,506,865 equity shares of INR 10 each fully paid-up for the financial year 2022-23, amounting to INR 68.05 million. The dividend, if declared by the members at the ensuing Annual General Meeting ("AGM"), will be paid to those shareholders, whose names registered in the Register of Members on cut-off date. The Dividend Pay-out Ratio for the current year is 21% of standalone profits. The dividend pay-out is in accordance with the Company's Dividend Distribution Policy. Dividend Payment Date On or after Monday, 25 September 2023. Reported Earnings • Aug 09
First quarter 2024 earnings released: EPS: ₹7.89 (vs ₹4.19 in 1Q 2023) First quarter 2024 results: EPS: ₹7.89 (up from ₹4.19 in 1Q 2023). Revenue: ₹890.0m (up 65% from 1Q 2023). Net income: ₹58.7m (up 48% from 1Q 2023). Profit margin: 6.6% (down from 7.4% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.5% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Biotechs industry in Asia. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Aug 01
Hester Biosciences Limited to Report Q1, 2024 Results on Aug 08, 2023 Hester Biosciences Limited announced that they will report Q1, 2024 results on Aug 08, 2023 Announcement • May 18
Hester Biosciences Limited Recommends Dividend for the Financial Year 2022-23 Hester Biosciences Limited recommended dividend of INR 8 (eight) per equity share of INR 10 each (80%) for the financial year 2022-23, subject to approval of members at the upcoming Annual General Meeting at its board of directors meeting held on May 17, 2023. Reported Earnings • May 18
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: ₹32.96 (down from ₹46.22 in FY 2022). Revenue: ₹2.81b (up 14% from FY 2022). Net income: ₹266.3m (down 32% from FY 2022). Profit margin: 9.5% (down from 16% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.4%. Revenue is forecast to grow 9.4% p.a. on average during the next 2 years, compared to a 26% growth forecast for the Biotechs industry in Asia. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹1,763, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 27x in the Biotechs industry in Asia. Total returns to shareholders of 72% over the past three years. Buying Opportunity • Jan 27
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be ₹2,198, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 6.3% in a year. Earnings is forecast to grow by 37% in the next year. Announcement • Jan 25
Hester Biosciences Limited to Report Q3, 2023 Results on Jan 31, 2023 Hester Biosciences Limited announced that they will report Q3, 2023 results on Jan 31, 2023 Buying Opportunity • Dec 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be ₹2,316, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 6.3% in a year. Earnings is forecast to grow by 37% in the next year. Price Target Changed • Nov 16
Price target decreased to ₹2,015 Down from ₹2,445, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of ₹1,940. Stock is down 19% over the past year. The company is forecast to post earnings per share of ₹35.90 for next year compared to ₹46.22 last year. Reported Earnings • Nov 05
Second quarter 2023 earnings released: EPS: ₹7.77 (vs ₹13.08 in 2Q 2022) Second quarter 2023 results: EPS: ₹7.77 (down from ₹13.08 in 2Q 2022). Revenue: ₹776.0m (up 21% from 2Q 2022). Net income: ₹69.4m (down 35% from 2Q 2022). Profit margin: 8.9% (down from 17% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.2% p.a. on average during the next 2 years, compared to a 27% growth forecast for the Biotechs industry in Asia. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Buying Opportunity • Sep 27
Now 26% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be ₹2,776, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 9.3% in a year. Earnings is forecast to grow by 9.9% in the next year. Buying Opportunity • Aug 10
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 3.8%. The fair value is estimated to be ₹2,893, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 23% in 2 years. Earnings is forecast to grow by 37% in the next 2 years. Upcoming Dividend • Aug 04
Upcoming dividend of ₹10.00 per share Eligible shareholders must have bought the stock before 11 August 2022. Payment date: 22 September 2022. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 0.4%. Lower than top quartile of Indian dividend payers (1.7%). Lower than average of industry peers (0.9%). Reported Earnings • Aug 03
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: ₹46.22 (up from ₹40.47 in FY 2021). Revenue: ₹2.47b (up 13% from FY 2021). Net income: ₹393.2m (up 14% from FY 2021). Profit margin: 16% (in line with FY 2021). Post-clinical trial products Launched (during full year): 3 Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 1.7%. Over the next year, revenue is forecast to grow 8.7%, compared to a 1,207% growth forecast for the pharmaceuticals industry in India. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Buying Opportunity • Jul 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be ₹2,895, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 22% in 2 years. Earnings is forecast to grow by 37% in the next 2 years. Reported Earnings • May 21
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: ₹46.41 (up from ₹40.47 in FY 2021). Revenue: ₹2.49b (up 14% from FY 2021). Net income: ₹393.2m (up 14% from FY 2021). Profit margin: 16% (in line with FY 2021). Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 19%, compared to a 1,522% growth forecast for the pharmaceuticals industry in India. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Price Target Changed • Apr 27
Price target increased to ₹2,780 Up from ₹611, the current price target is provided by 1 analyst. New target price is 6.5% above last closing price of ₹2,610. Stock is up 17% over the past year. The company is forecast to post earnings per share of ₹47.20 for next year compared to ₹40.47 last year. Reported Earnings • Feb 01
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹9.79 (down from ₹15.13 in 3Q 2021). Revenue: ₹584.7m (flat on 3Q 2021). Net income: ₹84.8m (down 31% from 3Q 2021). Profit margin: 14% (down from 21% in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Reported Earnings • Oct 30
Second quarter 2022 earnings released: EPS ₹13.08 (vs ₹7.86 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹640.9m (up 19% from 2Q 2021). Net income: ₹106.2m (up 59% from 2Q 2021). Profit margin: 17% (up from 13% in 2Q 2021). The increase in margin was driven by higher revenue. Upcoming Dividend • Jul 29
Upcoming dividend of ₹10.00 per share Eligible shareholders must have bought the stock before 05 August 2021. Payment date: 16 September 2021. Trailing yield: 0.4%. Lower than top quartile of Indian dividend payers (1.4%). In line with average of industry peers (0.5%). Reported Earnings • Jul 27
Full year 2021 earnings released: EPS ₹40.47 (vs ₹34.29 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: ₹2.18b (up 16% from FY 2020). Net income: ₹344.3m (up 18% from FY 2020). Profit margin: 16% (in line with FY 2020). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Executive Departure • Jun 15
Chief Financial Officer Chetas Patel has left the company On the 8th of June, Chetas Patel's tenure as Chief Financial Officer ended after 1.1 years in the role. We don't have any record of a personal shareholding under Chetas' name. Chetas is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 5.88 years. Reported Earnings • Jun 09
Full year 2021 earnings released: EPS ₹40.79 (vs ₹34.29 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: ₹2.19b (up 17% from FY 2020). Net income: ₹344.3m (up 18% from FY 2020). Profit margin: 16% (in line with FY 2020). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 29% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 17
Investor sentiment improved over the past week After last week's 32% share price gain to ₹2,921, the stock trades at a trailing P/E ratio of 76.4x. Average trailing P/E is 52x in the Biotechs industry in Asia. Total returns to shareholders of 114% over the past three years. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment improved over the past week After last week's 16% share price gain to ₹2,208, the stock trades at a trailing P/E ratio of 62.2x. Average trailing P/E is 52x in the Biotechs industry in Asia. Total returns to shareholders of 32% over the past three years. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 21% share price gain to ₹2,131, the stock trades at a trailing P/E ratio of 55.2x. Average trailing P/E is 54x in the Biotechs industry in Asia. Total returns to shareholders of 38% over the past three years. Reported Earnings • Feb 01
Third quarter 2021 earnings released: EPS ₹15.13 (vs ₹14.05 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: ₹581.7m (up 14% from 3Q 2020). Net income: ₹123.5m (up 7.2% from 3Q 2020). Profit margin: 21% (down from 23% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Jan 22
New 90-day low: ₹1,655 The company is down 10.0% from its price of ₹1,838 on 23 October 2020. The Indian market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is up 6.0% over the same period. Is New 90 Day High Low • Dec 21
New 90-day low: ₹1,683 The company is down 2.0% from its price of ₹1,709 on 22 September 2020. The Indian market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is up 10.0% over the same period. Reported Earnings • Nov 01
First half earnings released Over the last 12 months the company has reported total profits of ₹266.6m, down 35% from the prior year. Total revenue was ₹1.92b over the last 12 months, largely unchanged from the prior year. Is New 90 Day High Low • Oct 07
New 90-day high: ₹1,850 The company is up 49% from its price of ₹1,239 on 09 July 2020. The Indian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is up 15% over the same period. Is New 90 Day High Low • Sep 18
New 90-day high: ₹1,753 The company is up 42% from its price of ₹1,237 on 19 June 2020. The Indian market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is up 16% over the same period.