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Last Updated : Oct 31, 2018 04:08 PM IST | Source: Moneycontrol.com

Buy Hester Biosciences; target of Rs 1620: ICICI Direct

ICICI Direct is bullish on Hester Biosciences has recommended buy rating on the stock with a target price of Rs 1620 in its research report dated October 30, 2018.

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ICICI Direct's research report on Hester Biosciences


Standalone revenues grew 20% YoY in H1FY19 to Rs 80.8 crore on the back of 36% growth in the large animal segment to Rs 14.8 crore and addition of veterinary social business. The poultry segment grew 10% YoY in H1FY19 to Rs 62.3 crore EBITDA margins remained healthy at 38% in H1FY19. EBITDA grew 18% YoY in H1FY19 to Rs 30.5 crore Net profit grew 30% YoY to Rs 19.6 in H1FY19 crore mainly due to a strong operational performance and lower tax rate (27% vs 36% in H1FY18).


Outlook


The company has a wide portfolio of 49 vaccines and 50 health products addressing preventive, curative and growth needs of poultry and large animals. It also provides services such as seromonitoring for poultry farms and mastitis prevention programs for cattle farms. The management has guided for Rs 160-165 crore of sales (standalone) for FY19. It expects EBITDA margins to remain at FY18 level.


For all recommendations report, click here


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First Published on Oct 31, 2018 04:08 pm
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