Buy Hikal, target price Rs 450: Prabhudas Lilladher

Prabhudas Lilladher has buy call on Hikal with a target price of Rs 450.The current market price of Hikal is Rs 400.5. Prabhudas Lilladher recommended to keep stop loss at Rs 395.

Hikal, incorporated in the year 1988, is a Small Cap company (having a market cap of Rs 4926.48 Crore) operating in Pharmaceuticals sector.

Hikal key Products/Revenue Segments include Pharmaceuticals, Sale of services, Other Operating Revenue, Scrap and Export Incentives for the year ending 31-Mar-2022.

Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 560.00 Crore, up 46.57 % from last quarter Total Income of Rs 382.06 Crore and up 19.17 % from last year same quarter Total Income of Rs 469.93 Crore. Company has reported net profit after tax of Rs 24.84 Crore in latest quarter.

The company’s top management includes Mr.Jai Hiremath, Mr.Prakash Mehta, Mr.Baba Kalyani, Mr.Amit Kalyani, Mr.Kannan Unni, Mr.Ranjit Shahani, Mrs.Shivani Bhasin Sachdeva, Ms.Sugandha Hiremath, Mr.Sameer Hiremath, Mr.Shrikrishna Adivarekar. Company has B S R & Co. LLP as its auditors. As on 30-09-2022, the company has a total of 12 Crore shares outstanding.

Promoter/FII Holdings
Promoters held 68.77 per cent stake in the company as of 30-Sep-2022, while FIIs owned 3.91 per cent, DIIs 1.37 per cent.