Hikal Limited announced its financial results for the quarter and half-year ended September 30, 2026. The company reported a significant 36% year-on-year revenue growth to ₹434 crore in Q2 FY27. EBITDA also saw a substantial increase to ₹45 crore, with margins at 10.3%. The Pharmaceuticals segment demonstrated strong recovery, while the Personal Care business commenced commercial production, contributing to overall positive performance.
Hikal Announces Strong Q2 FY27 Financial Performance
Hikal Limited has released its unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. The company showcased robust financial performance, highlighted by a notable 36% year-on-year increase in consolidated revenue, which stood at ₹434 crore for the second quarter of FY27. This growth was primarily driven by the recovery in the established API portfolio and continued CDMO execution across global markets.
Key Financial Highlights (Q2 FY27)
The consolidated financial summary reveals a significant improvement in profitability and operational efficiency. EBITDA for the quarter grew substantially to ₹45 crore, with EBITDA margins expanding to 10.3%, indicating stronger operational performance compared to the previous year. Profit After Tax (PAT) for the quarter was reported at a loss of ₹6 crore, an improvement from the loss of ₹35 crore in the same quarter last year. Earnings Per Share (EPS) stood at (₹0.49).
Segmental Performance
Pharmaceuticals
The Pharmaceuticals segment continued its recovery, with revenue growing by 47% year-on-year to ₹278 crore in Q2 FY27. This growth was fueled by the established API portfolio and new product commercialization. API volumes recovered, and the CDMO pipeline expanded across the US, Europe, and Japan. The segment also achieved key milestones, including GMP approval for an API in Japan and the successful completion of 28 customer audits.
Crop Protection
Despite operating challenges such as elevated raw material and energy prices, the Crop Protection segment reported revenues of ₹156 crore, growing 21% year-on-year. Own Product sales grew 11% year-on-year. The segment also secured a multi-year CDMO contract with a Europe-based global agrochemical company for a specialized product. Customer engagement in Japan has also increased.
Consolidated Revenue Split
The revenue split for Q2 FY27 shows Pharmaceuticals contributing 64% and Crop Protection contributing 36% to the total consolidated revenue, reflecting a shift towards higher contribution from the Pharmaceuticals segment.
Half-Yearly Performance (H1 FY27)
For the half-year ended September 30, 2026, consolidated revenue reached ₹837 crore, a 20% increase year-on-year. EBITDA surged to ₹82 crore with improved EBITDA margins of 9.8%. The company reported a reduced net loss of ₹14 crore for H1 FY27 compared to ₹57 crore in the prior year’s comparable period.
Balance Sheet and Cash Flow Highlights
The consolidated balance sheet as of September 26 shows total assets of ₹2,341 crore. The consolidated cash flow statement for the half-year ended September 26, 2026, indicates a net increase in cash and cash equivalents of ₹9 crore. Net cash inflow from operating activities was ₹167 crore.
Source: BSE
