Mumbai - Hikal Ltd., a preferred long-term partner for leading global life sciences companies, announced its financial results for the quarter ended 30th June 2023.

Q1 FY'24 Highlights

Revenue stood at Rs. 388 crore

EBITDA stood at Rs. 50 crore, 122% increase on YoY basis

PAT stood at Rs. 7 crores

Hikal's long term credit rating is maintained at A+ by ICRA

Key Highlights

Hikal's Panolisite undergone US FDA audit which was concluded with 'Zero' 483 observations

US FDA approval is in line with de-risking strategy for additional API site to service our global customer base

Muted volumes coupled with pricing headwinds and high-cost inventories on our customers side impacted topline and profitability

The performance is expected to gradually pickup and operating leverage to improve in the second half of the year

About Hikal Limited

Hikal is a reliable long-term partner to companies in the Pharmaceuticals, Crop Protection, and Specialty Chemicals industry. The company is in the business of supplying research services, active ingredients and intermediates, manufactured using stringent global quality standards, for its global customers. Hikal's advanced manufacturing facilities have been inspected and approved by leading multinational companies in the Crop protection and Pharmaceutical sectors. The Crop protection facilities are located at Taloja, Mahad (Maharashtra) and Panoli (Gujarat). Hikal's R&T facilities are located at Pune. The Pharmaceutical manufacturing facilities are situated in Jigani (Bengaluru) and Panoli (Gujarat). Hikal is the first Indian life-sciences company to receive the Responsible Care certification governed by the International Council of Chemical Associations(ICCA)

Safe Harbor Statement

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.

Contact:

Mr. Jigar Kavaiya

Email: jigar.kavaiya@sgapl.net

Tel: +91 9920602034

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