Hester Biosciences Ltd Reported PAT of Rs. 13.29 Crore in Q3FY21, Growth of 72% Y-o-Y
Poultry Healthcare division and Animal healthcare division post 32% and 4% growth; Company is set to launch a new range of Herbal Health products in this quarter.
Leading animal healthcare company, Hester Biosciences Ltd reported net profit of Rs. 13.29 crore for the Q3FY21 ended December 2020 as against net profit of Rs. 7.73 crore in the corresponding period last year – growth of 72%. Net sales for the Q3FY21 was reported at Rs. 52.82 crore, growth of 22% as compared to net sales of Rs. 43.39 crore in the corresponding period last year. EPS for Q3FY was reported at Rs. 15.62 per share. Company is able to maintain healthy margins; EBITDA Margin was reported at 38.97% while Net Profit margin further improved to 25.16% in Q3FY21. The Board has authorised the management to explore appropriate financing alternatives for the expansion activities for an aggregate outlay of INR 200 Crore.
INR in Crore
|EPS (In INR)||15.62||9.09||72%||36.49||30.82||18%|
Performance – Division wise
Poultry Healthcare division reported sales growth of 32% while Animal healthcare division reported sales growth of 4% Y-o-Y in Q3FY21. Vaccine division (Poultry and animal divisions) reported growth of 20% in Q3FY21 and 12% in 9MFY21 as compared to the corresponding period last year. Domestic sales have registered a growth of 43% in Q3FY21 and 20% in 9MFY21 while the export sales have reduced by 51% in Q3FY21 and 5% in 9MFY21. While export orders have continued to pour in, the higher demand within India compelled us to divert the production for domestic sales.
Going forward, Hester is set to launch a new range of Herbal Health products in this quarter. Hester is also evaluating expansion opportunities in manufacturing and distribution of Animal Health Products and Biologicals, worldwide. In view of the various vaccine opportunities within India, including those of Brucella and LSD vaccines, till our expansion activities go on-stream, temporarily, Hester will focus on the Indian market. Exports will be mainly of health products. Our developmental activities are ongoing for the human Covid-19 vaccine with IIT Guwahati.
The outcome of the tender for Brucella vaccine under the National Animal Disease Control Program of the Government of India is awaited. Sales through this tender are expected to commence from March 2021. There has been no impact on our sales due to the current Bird Flu situation in India.