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Hikal: Focus on operational risk management adds to conviction

Any protectionist measure from the government, given the recent trend towards ant-dumping duty and Make in India theme could disproportionately benefit the Hikal

September 08, 2020 / 02:04 PM IST
Hikal: Focus on operational risk management adds to conviction

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights - Q1 performance dragged by crop protection segment - Adverse operational leverage impacted operating margins - Mega capex plan to provide earnings visibility in medium term - Japan opportunity and animal health businesses could be earnings catalyst Hikal Ltd (CMP: Rs 160, Market cap: Rs 1,973 crore) is one of the few CDMO (contract development and manufacturing organization) businesses that have exposure to both the promising end-markets of Pharma and Crop Protection chemicals. While most players in the CDMO businesses have outshined in terms of both operational...

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