Hikal quarterly results and financials

Hikal (HIKAL)₹225.40+2.18%(9 Nov 2026 close)Pharmaceuticals

Key facts

In the Jun 2026 quarter (consolidated), Hikal reported sales of ₹403 Cr, up 6.0% from Jun 2025, and net profit of −₹7.39 Cr. For the year to Mar 2026, sales were ₹1,714 Cr and net profit −₹48.95 Cr.

Sales (Jun 2026): ₹403 Cr
Net profit (Jun 2026): −₹7.39 Cr
Sales (FY Mar 2026): ₹1,714 Cr
Net profit (FY Mar 2026): −₹48.95 Cr
EPS (Jun 2026): ₹−0.61
Borrowings (Mar 2026): ₹686 Cr

Company filings, consolidated accounts; latest reported quarter Jun 2026

Hikal quarterly results

₹ crore unless stated; each column is a quarter.

Hikal Quarterly results
	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	435	448	515	407	453	448	553	380	319	495	520	403
Expenses	378	383	421	349	379	376	430	356	312	412	415	366
Operating Profit	57.61	64.77	94.45	58.04	74.98	72.16	123	25.11	7.21	82.82	105	37.02
OPM %	13.2%	14.4%	18.3%	14.2%	16.5%	16.0%	22.3%	6.6%	2.3%	16.7%	20.2%	9.2%
Other Income	0.98	0.09	0.49	0.49	0.39	3.59	0.49	0.99	1.89	−35.10	−40.40	10.67
Interest	13.07	14.19	15.27	19.78	18.77	18.68	17.86	17.09	14.88	15.48	14.59	14.87
Depreciation	28.65	29.07	32.39	31.88	31.80	33.30	37.82	39.50	41.31	41.31	42.09	42.82
Profit before tax	16.91	21.66	47.43	6.92	24.87	23.89	68.54	−30.49	−47.19	−9.23	8.32	−9.93
Tax %	25.5%	25.5%	28.4%	26.1%	26.3%	27.8%	26.5%	−26.3%	−25.8%	−35.9%	−73.5%	−25.2%
Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	−37.89	−46.99	8.88
Net Profit	12.55	16.07	33.87	5.09	18.27	17.17	50.09	−22.36	−34.84	−5.89	14.39	−7.39
EPS (Rs)	1.03	1.32	2.76	0.42	1.49	1.40	4.08	−1.83	−2.84	−0.49	1.18	−0.61

Hikal profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

Hikal Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	927	1,015	1,298	1,590	1,509	1,721	1,945	2,025	1,787	1,862	1,714	1,736
Expenses	746	814	1,056	1,294	1,236	1,400	1,605	1,768	1,522	1,533	1,494	1,505
Operating Profit	181	201	242	298	273	323	341	258	267	328	220	232
OPM %	19.9%	19.9%	18.9%	19.0%	17.9%	18.9%	17.9%	13.0%	15.0%	18.0%	13.0%	13.4%
Other Income	1.99	−2.99	3.99	1.99	−11.96	4.98	4.98	4.98	1.99	4.98	−72.81	−62.94
Interest	61.96	47.95	48.93	57.96	51.97	35.93	30.97	47.90	55.89	74.85	61.94	59.82
Depreciation	67.18	69.17	86.21	93.29	82.16	85.19	96.32	109	118	134	164	168
Profit before tax	53.20	80.20	112	150	127	207	220	105	96.25	124	−78.21	−58.03
Tax %	23.0%	16.0%	31.0%	31.1%	33.0%	36.0%	27.0%	26.1%	27.1%	27.0%	−38.0%	—
Exceptional items	0.00	−4.99	0.00	0.00	−9.98	0.00	0.00	0.00	0.00	0.00	−84.81	−76.00
Net Profit	40.96	67.90	76.88	103	83.81	133	160	77.93	69.94	90.80	−48.95	−33.73
EPS (Rs)	3.35	5.50	6.27	8.37	6.86	10.81	13.03	6.37	5.65	7.37	−3.97	−2.76
Dividend payout %	20.0%	15.0%	13.0%	14.0%	18.0%	19.0%	12.0%	19.0%	21.0%	11.0%	−15.0%	—

Hikal balance sheet

₹ crore, at each year end.

Hikal Balance sheet
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	16.07	16.07	16.07	16.06	25.10	25.10	25.11	25.11	25.10	25.10	25.10	25.11
Reserves	518	549	591	656	735	795	913	1,047	1,113	1,168	1,243	1,179
Borrowings	549	506	600	637	662	648	612	676	750	820	767	686
Other Liabilities	213	207	178	238	269	307	372	472	506	484	504	485
Total Liabilities	1,297	1,279	1,384	1,548	1,692	1,775	1,920	2,221	2,394	2,496	2,539	2,374
Fixed Assets	641	625	670	636	716	738	716	883	951	1,074	1,369	1,338
CWIP	62.24	66.25	63.21	118	79.36	162	255	296	414	416	122	94.30
Investments	3.01	3.01	4.01	3.01	1.01	1.01	1.01	11.02	5.01	5.01	10.03	10.02
Other Assets	590	585	647	791	896	875	949	1,031	1,024	1,001	1,038	931
Inventories	314	291	264	303	364	312	267	329	317	304	334	358
Trade receivables	128	112	257	288	351	341	487	439	443	552	523	443
Cash & equivalents	13.96	18.97	15.97	26.94	31.95	63.84	36.90	48.89	59.91	20.94	17.95	13.97
Total Assets	1,297	1,279	1,384	1,548	1,692	1,775	1,920	2,221	2,394	2,496	2,539	2,374

Hikal cash flow

₹ crore, for each year.

Hikal Cash flow
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	102	186	163	139	186	286	229	295	316	187	280	303
Cash from investing activity	−42.96	−63.98	−102	−110	−125	−164	−156	−284	−292	−174	−136	−145
Cash from financing activity	−68.71	−123	−62.77	−24.92	−54.79	−101	−96.55	−5.98	−7.97	−26.91	−143	−159
Net cash flow	−10.01	−2.01	−2.01	4.01	6.01	20.03	−24.05	4.01	15.03	−14.04	0.00	−3.01
Capex	49.13	59.19	122	106	128	159	158	274	304	205	137	148
Free cash flow	54.10	127	58.09	33.08	57.12	127	71.12	21.06	13.04	−17.03	144	154
CFO / OP %	63.1%	110.0%	91.0%	68.0%	73.1%	113.0%	85.1%	107.0%	134.0%	81.1%	94.0%	144.0%

Hikal ratios

Working-capital days and returns, by year.

Hikal Ratios
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	53	43	91	80	79	81	102	81	79	112	102	93
Inventory days	268	229	189	158	156	147	107	121	104	134	146	172
Days payable	116	100	92	85	67	94	91	90	102	122	132	127
Cash conversion cycle	204	172	187	152	167	134	117	111	80	123	115	137
Working capital days	−13	29	43	29	45	28	39	26	39	39	37	41
ROCE %	11.0%	11.0%	12.0%	13.0%	15.0%	14.0%	16.0%	15.0%	8.0%	8.0%	10.0%	4.0%

Hikal: frequently asked questions

What are the latest quarterly results of Hikal?

For the Jun 2026 quarter, Hikal reported sales of ₹403 Cr, up 6.0% year on year and net profit of −₹7.39 Cr. The operating margin was 9.2%.

What is the annual revenue of Hikal?

Hikal's sales for the year to Mar 2026 were ₹1,714 Cr; over the last twelve months they were ₹1,736 Cr.

What is the net profit of Hikal?

Net profit for the year to Mar 2026 was −₹48.95 Cr, and −₹33.73 Cr over the last twelve months. Earnings per share over the same trailing period were ₹−2.76.

How much debt does Hikal have?

Hikal reported borrowings of ₹686 Cr at Mar 2026, against cash and equivalents of ₹13.97 Cr.

What is the free cash flow of Hikal?

Cash from operations was ₹303 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹154 Cr.

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