Hikal Results FY22Q2

Extract of unaudited financial results

for the quarter and half year ended 30 September 2021

						(Rs in Lakhs)
			Consolidated
Particulars		Quarter ended		Half year ended	Year ended
30-Sep-2130-Jun-21	30-Sep-2030-Sep-2130-Sep-20	31-Mar-21
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
Total income	46,993	45,996	37,287	92,989	72,628	1,72,542
Net Profit for the period (before tax, Exceptional and/or Extraordinary item)	5,961	6,839	4,105	12,800	6,384	20,643
Net Profit for the period before tax (after Exceptional and/or Extraordinary item)	5,961	6,839	4,105	12,800	6,384	20,643
Net Profit for the period after tax (after Exceptional and/or Extraordinary item)	4,406	5,054	2,695	9,460	4,195	13,315
Total Comprehensive Income for the period [Comprising profit for the period (after tax)	4,370	5,018	2,697	9,388	4,199	13,171
and Other Comprehensive income (after tax)]
Equity share capital	2,466	2,466	2,466	2,466	2,466	2,466
Other equity						90,874
Earnings Per Share (Face Value of Rs 2/- each) (for continuing and discontinued
operations)
- Basic	3.57	4.10	2.19	7.67	3.40	10.80
- Diluted	3.57	4.10	2.19	7.67	3.40	10.80

Note :

1 In respect of the standalone results of the Company, the amounts are as follows

			Standalone
Particulars		Quarter ended		Half year ended	Year ended
30-Sep-2130-Jun-21	30-Sep-2030-Sep-2130-Sep-20	31-Mar-21
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
Total income	46,993	45,996	37,287	92,989	72,628	1,72,542
Net Profit for the period (before tax, Exceptional and/or Extraordinary item)	5,960	6,835	4,105	12,795	6,384	20,643
Net Profit for the period before tax (after Exceptional and/or Extraordinary item)	5,960	6,835	4,105	12,795	6,384	20,643
Net Profit for the period after tax (after Exceptional and/or Extraordinary item)	4,405	5,050	2,695	9,455	4,195	13,315
Earnings Per Share (Face Value of Rs 2/- each) (for continuing and discontinued
operations)
- Basic	3.57	4.10	2.18	7.67	3.40	10.80
- Diluted	3.57	4.10	2.18	7.67	3.40	10.80

1. The above is an extract of the detailed format of quarterly financial results filed with the stock exchanges under regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The full format of the financial results are available on the stock exchange websites (www.bseindia.com and www.nseindia.com) and on Company's website (www.hikal.com).
2. The figures for the previous periods have been regrouped wherever necessary to conform to the current period presentation.

For HIKAL LTD

		JAI	Digitally signed by
		JAI VISHWANATH
		VISHWANAT	HIREMATH
		H HIREMATH Date: 2021.10.26
			12:08:41 +05'30'
Place :	Mumbai	Jai Hiremath
Date	: 26 October 2021	Executive Chairman
		DIN: 00062203

HIKAL LTD

Regd. Office : 717/718, Maker Chamber V, Nariman Point, Mumbai - 400 021.

Phone : [phone] , Fax : [phone]

CIN : L24200MH1988PTC048028, E Mail : [e-mail] , Website : www.hikal.com

Just the right chemistry

	12th Floor, The Ruby
	29 Senapati Bapat Marg
Chartered Accountants	Dadar (West)
Mumbai - 400 028, India
	Tel: [phone]

Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to

The Board of Directors

Hikal Limited

1. We have reviewed the accompanying statement of unaudited standalone financial results of Hikal Limited (the "Company") for the quarter ended September 30, 2021 and year to date from April 1, 2021 to September 30, 2021 (the "Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
2. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For S R B C & CO LLP

Chartered Accountants

ICAI Firm registration number: 324982E/E300003

VINAYAK SHRIRAM PUJARE

Digitally signed by VINAYAK SHRIRAM PUJARE

DN: cn=VINAYAK SHRIRAM PUJARE, c=IN, o=Personal, email=[e-mail] Date: 2021.10.26 12:45:15 +05'30'

per Vinayak Pujare Partner

Membership No.: 101143

UDIN: 21101143AAAAEB3667

Place: Mumbai

Date: October 26, 2021

S R B C & CO LLP, a Limited Liability Partnership with LLP Identity No. AAB-4318

Regd. Office : 22, Camac Street, Block 'B', 3rd Floor, Kolkata-700 016

Statement of unaudited standalone financial results for the quarter and half year ended 30 September 2021

		Rs. In Lakhs (Except for per share data)
			Standalone
Particulars		Quarter ended		Half year ended	Year ended
30-Sep-21	30-Jun-21	30-Sep-20	30-Sep-21	30-Sep-20	31-Mar-21
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
Income
Revenue from operations
Sale of products and services	46,396	45,450	36,635	91,846	71,348	1,70,706
Other operating revenue	510	228	557	738	1,121	1,338
Total revenue from operations	46,906	45,678	37,192	92,584	72,469	1,72,044
Other income	87	318	95	405	159	498
Total income	46,993	45,996	37,287	92,989	72,628	1,72,542
Expenses
Cost of materials consumed	27,712	23,074	22,920	50,786	41,678	90,671
Changes in inventories of finished goods and work-in-progress	(4,500)	(583)	(4,064)	(5,083)	(3,489)	167
Employee benefits expense	4,813	4,758	3,896	9,571	8,094	16,432
Finance costs	796	799	850	1,595	1,818	3,620
Depreciation and amortisation expenses	2,420	2,256	2,117	4,676	4,188	8,524
Other expenses	9,792	8,857	7,463	18,649	13,955	32,485
Total expenses	41,033	39,161	33,182	80,194	66,244	1,51,899
Profit before tax	5,960	6,835	4,105	12,795	6,384	20,643
Tax expense:
-Current tax	1,602	1,889	1,453	3,491	2,256	7,955
-Deferred tax	(47)	(104)	(43)	(151)	(67)	(627)
Total tax expense	1,555	1,785	1,410	3,340	2,189	7,328
Profit for the period	4,405	5,050	2,695	9,455	4,195	13,315
Other comprehensive income (OCI)
Items that will not be reclassified to statement of profit and loss	(49)	(48)	3	(97)	6	(194)
Income tax relating to item that will not be reclassified to statement of profit	13	12	(1)	25	(2)	50
and loss
Total comprehensive income	4,369	5,014	2,697	9,383	4,199	13,171
Paid-up equity share capital (Face value of Rs 2/- each)	2,466	2,466	2,466	2,466	2,466	2,466
Other equity						90,876
Earnings per share (Face Value of Rs 2/- each)
- Basic	3.57	4.10	2.18	7.67	3.40	10.80
- Diluted	3.57	4.10	2.18	7.67	3.40	10.80

Notes :

1. The above results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 26 October 2021.
2. The standalone financial results for the quarter and half year ended on 30 September 2021 have been subjected to a 'Limited Review' by the statutory auditors of the Company. The statutory auditors have expressed an unmodified review conclusion. The limited review report will be filed with the stock exchanges and will also be available on the Company's website, www.hikal.com.
3. The Company has considered the impact of COVID-19 pandemic on its business operations and financial results based on its review of current indicators of future economic conditions. However,the impact assessment of this pandemic is a continuing process given the uncertainties associated with its nature and duration, and accordingly, the Company will continue to monitor any material changes to future economic conditions.
   4.The Code on Social Security, 2020 ('the Code') has been notified in the Official Gazette on September 29, 2020. The effective date from which the changes are applicable is yet to be notified and the rules are yet to be framed. Impact, if any, of the change will be assessed and accounted in the period in which the said Code becomes effective and the rules framed thereunder are published.

1. During the quarter, heavy rains at Mahad, Maharashtra led to flooding which caused the operations at the Company's Mahad Unit to remain shut for a period of 27 days. This has consequentially impacted the results for the quarter and half-year ended 30 September 2021. The Company has filed an insurance claim, which is under assessment.
2. The figures for the previous periods have been regrouped wherever necessary to conform to the current period presentation.

For HIKAL LTD

JAI VISHWANAT H HIREMATH

Digitally signed by JAI VISHWANATH HIREMATH Date: 2021.10.26 12:09:58 +05'30'

Place	:	Mumbai	Jai Hiremath
Date	:	26 October 2021	Executive Chairman
			DIN: 00062203
			HIKAL LTD
			Regd. Office : 717/718, Maker Chamber V, Nariman Point, Mumbai - 400 021.
			Phone : [phone] , Fax : [phone]
			CIN : L24200MH1988PTC048028, E Mail : [e-mail] , Website : www.hikal.com
			Just the right chemistry

Standalone segment wise revenue, results, assets and liabilities

for the quarter and half year ended 30 September 2021

					(Rs. In Lakhs)
			Standalone
Particulars		Quarter ended		Half year ended	Year ended
30-Sep-21	30-Jun-21	30-Sep-20	30-Sep-21	30-Sep-20	31-Mar-21
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1. Segment revenue
a) Pharmaceuticals	27,956	27,407	27,931	55,363	49,296	1,05,964
b) Crop protection	18,950	18,271	9,261	37,221	23,173	66,080
Total	46,906	45,678	37,192	92,584	72,469	1,72,044
Less: Inter segment revenue	-	-	-			-
Revenue from operations	46,906	45,678	37,192	92,584	72,469	1,72,044
2. Segment results
a) Pharmaceuticals	3,748	4,811	4,974	8,559	7,152	16,988
b) Crop protection	3,413	3,184	784	6,597	2,468	10,327
Total	7,161	7,995	5,758	15,156	9,620	27,315
Less :
i) Finance cost	796	799	850	1,595	1,818	3,620
ii) Other un-allocable expenditure	443	432	852	875	1,531	3,317
Add:
i) Other un-allocable income	38	71	49	109	113	265
Profit before tax	5,960	6,835	4,105	12,795	6,384	20,643
3. Segment assets
a) Pharmaceuticals	1,15,836	1,16,353	1,10,253	1,15,836	1,10,253	1,13,145
b) Crop protection	75,791	65,549	57,582	75,791	57,582	65,607
c) Unallocable	15,163	12,708	13,125	15,163	13,125	12,571
Total assets	2,06,790	1,94,610	1,80,960	2,06,790	1,80,960	1,91,323
4. Segment liabilities
a) Pharmaceuticals	16,376	16,327	15,946	16,376	15,946	17,448
b) Crop protection	17,078	13,233	8,937	17,078	8,937	11,618
c) Unallocable	71,844	66,694	70,472	71,844	70,472	68,915
Total liabilities	1,05,298	96,254	95,355	1,05,298	95,355	97,981

For HIKAL LTD

JAI VISHWANAT H HIREMATH

Digitally signed by

JAI VISHWANATH HIREMATH Date: 2021.10.26 12:10:36 +05'30'

		Jai Hiremath
Place	: Mumbai	Executive Chairman
Date	: 26 October 2021	DIN: 00062203
		HIKAL LTD
		Regd. Office : 717/718, Maker Chamber V, Nariman Point, Mumbai - 400 021.
		Phone : [phone] , Fax : [phone]
		CIN : L24200MH1988PTC048028, E Mail : [e-mail] , Website : www.hikal.com
		Just the right chemistry