Hikal Limited · NSE:HIKAL
Hikal — Q1 FY27 Earnings Presentation
32 slides from Hikal's earnings presentation, August 2026
Slide 1: Investor Presentation Q1 FY27
Investor Presentation Q1 FY27 August 2026
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Hikal Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and
Slide 3: Leading with Vision
Leading with Q1 FY27 was a slower start to the beginning of the year as we transition from regulatory-led disruption to growth. Vision We delivered Revenue of ₹403 Cr. with an EBITDA margin of 9.2%. Mr. Jai Hiremath, In our Pharmaceutical Business we are in the penultimate stage of our remediation p
Slide 4: Q1FY27: Performance at a Glance
Q1FY27: Performance at a Glance
Slide 5: Q1FY27: Consolidated Performance Summary
Q1FY27: Consolidated Performance Summary CONSOLIDATED: FINANCIAL SUMMARY COMMENTARY Rs. In Crs Q4FY26 Q1FY26 Q1FY27 Revenue grew 6.2% despite geopolitical and macroeconomic headwinds, Revenue 519 380 403 supported by improving customer demand and execution EBITDA 105 25 37 Quarterly EBITDA of ₹37 cr
Slide 6: Q1FY27: Pharmaceuticals Performance Summary
Q1FY27: Pharmaceuticals Performance Summary PHARMACEUTICALS: FINANCIAL SUMMARY COMMENTARY Rs. In Crs Q4FY26 Q1FY26 Q1FY27 Pharmaceutical business delivered revenue of ₹233 Cr in Q1FY27, growth of 15.2% YoY Revenue 292 203 233 Continued portfolio expansion across differentiated APIs and specialty EBI
Slide 7: Q1FY27: Crop Protection Performance Summary
Q1FY27: Crop Protection Performance Summary CROP PROTECTION: FINANCIAL SUMMARY COMMENTARY Rs. In Crs Q4FY26 Q1FY26 Q1FY27 Own Products delivered sequential growth driven by higher domestic volumes, while global demand improved gradually despite continued Revenue 228 178 170 pricing pressure. EBIT 39
Slide 8: Q1FY27: Consolidated P&L
Q1FY27: Consolidated P&L Particulars (Rs. In crores) Q1FY27 Q1FY26 YoY Q4FY26 QoQ Revenue 403 380 5.9% 519 -22.4% Expenditure 366 355 414 EBITDA 37 25 47.4% 105 -64.9% EBITDA Margin 9.2% 6.6% 259 bps 20.3% Other Income 2 1 7 Depreciation 43 39 42 Interest 15 17 15 PBT before exceptional items (19) (
Slide 9: FY26: Performance at a Glance
FY26: Performance at a Glance
Slide 10: FY26: Performance Summary
FY26: Performance Summary FINANCIAL SUMMARY REVENUE SPLIT% Rs. In Crs FY25 FY26 In % FY25 FY26 Consolidated Revenue 1,860 1,713 Pharmaceuticals 62% 60% EBITDA 328 220 Crop-Protection 38% 40% EBITDA% 17.7% 12.9% PAT 91 49 EPS 7.36 -3.96 Pharmaceuticals Rs. In Crs FY25 FY26 In % FY25 FY26 Revenue 1,16
Slide 11: FY26: Consolidated P&L
FY26: Consolidated P&L Particulars (Rs. In crores) FY26 w/o FY26 incl. FY25 YoY exceptional item exceptional item Revenue 1,713 1,713 1,860 -8% Expenditure 1,492 1,492 1,532 EBITDA 220 220 328 -33% EBITDA Margin 12.9% 12.9% 17.7% -479 bps Other Income 12 12 5 Depreciation 164 164 134 Interest 62 62
Slide 12: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. In Crore) Mar-26 Mar-25 Equities & Liabilities (Rs. In Crore) Mar-26 Mar-25 Total Non Current Assets 1,481 1,534 Shareholders Fund 1,199 1,262 Property, Plant and Equipment 1,264 1,293 Share Capital 25 25 Capital work in Progress 95 121 Other Equity 1,174 1,238
Slide 13: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. In Crore) Year ended 31-Mar-26 Year ended 31-Mar-25 Profit before tax (78) 124 Adjustments 278 215 Operating Profit Before Working Capital Changes 200 339 Change in operating assets and liabilities 117 (29) Cash generated from operations 316 310 Inco
Slide 14: Historical Performance Highlights
Historical Performance Highlights
Slide 15: Historical: Consolidated P&L Highlights
Historical: Consolidated P&L Highlights Rs. In crores REVENUE EBITDA PAT 2,023 161 341 328 1,943 257 267 1,860 220 91 1,785 78 70 1,713 5 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 15
Slide 16: Historical: Segmental Highlights
Historical: Segmental Highlights Rs. In crores CDMO Own Products REVENUE EBIT REVENUE SPLIT % 1,168 151 137 1,130 1,115 1,100 93 44% 41% 35% 42% 52% PHARMA 1,021 65 33 65% 56% 59% 58% 48% FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 REVENUE EBIT REVENUE SPLIT % 908 813
Slide 17: Historical: Ratios
Historical: Ratios ROE% (excl. exceptional item) ROCE% 21.60% 15.00% 9.90% 12.60% 8.50% 8.20% 7.10% 6.10% 3.00% 0.00% FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 NET DEBT / EQUITY (X) NET DEBT / EBITDA (X) 0.7 2.90 0.6 0.6 0.6 2.60 0.6 2.30 1.80 1.80 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY2
Slide 18: Corporate Snapshot
Corporate Snapshot
Slide 19: Our Vision & Mission
Our Vision & Mission VISION To be the leading global fine chemical company to the Pharmaceutical, Crop Protection, and Specialty Chemical Industries 01 02 MISSION To create value through superior, chemical products and operate as a responsible company. Building trust and respect of our customers, sh
Slide 20: Hikal's 38-year journey of capability building
Hikal’s 38-year journey of capability building Each milestone has expanded Hikal’s manufacturing scale, innovation capability and strategic relevance NEXT-GEN PLATFORMS 04 INNOVATION & ESG 2021–2026 03 CDMO & FOOTPRINT 2009–2014 02 2021 FOUNDATION 1997–2001 Signed a 10-year multiproduct 01 2009 cont
Slide 21: Domestic & Global Presence
Domestic & Global Presence Serving clients across five regions worldwide - powered by six manufacturing & R&D sites in India We serve clients globally Hikal Offices Panoli Europe Taloja Japan USA Pune Navi Mumbai India Bengaluru Mahad Corporate HQ R&T centre · Integrated Mini Plant Manufacturing sit
Slide 22: Manufacturing Capabilities
Manufacturing Capabilities Pharmaceuticals Crop Protection Jigani Unit 1, Karnataka Mahad, Maharashtra • US FDA Inspected API and Advanced • First Manufacturing Facility of Hikal Intermediates Manufacturing Site • Specialty Chemicals, Fungicides, Herbicides, and • cGMP Multipurpose API Facilities. I
Slide 23: Our state-of-the-art R&T facility
Our state-of-the-art R&T facility 15 4 Synthetic Analytical Labs Laboratories (Incl. ANV Lab) 1 1 Process Effluent Safety Treatability Lab Lab 1 1 Innovation Simulation 1 1 Lab Lab Pilot Plant Solid State (cGMP Compliant) Chemistry Lab 1 1 High HPAPI Lab Pressure Lab >300 27 Post Graduates PhD 23
Slide 24: Strategic Capability Expansion - Pune cGMP Compliant Pilot Plant
Strategic Capability Expansion - Pune cGMP Compliant Pilot Plant Business opportunities Strategic significance for Hikal 1. Deepen CDMO partnerships 1. Revenue growth engine Supports process development, scale-up, technology Improves conversion of development opportunities transfer and clinical manu
Slide 25: Key Operational Metrics
Key Operational Metrics Pharmaceuticals Crop Protection 5 86 30 Manufacturing facilities Active DMFs Commercialized Products 31 5,610MT Commercialized Active Ingredients APIs Sold in FY26 3000+ 2,188MT Employees Active P h a r m a 1 Kilo lab Ingredients Sold in FY26 214MT 508MT Advanced Intermediate
Slide 26: Regulatory Approvals
Regulatory Approvals Key Regulatory Approvals Integrated Management Systems across all sites 26
Slide 27: Human Resources update – employee engagement, learning & development
Human Resources update – Initiatives taken to enhance employee engagement, learning & development Connect Capability Culture • Employee Hour connect with employees • Hikal Talent Lab conducted at all sites • World Environment Day Celebration at all locations • Townhall facilitation at all sites by t
Slide 28: CSR update – Focus on being a Responsible Company
CSR update – Focus on being a Responsible Company by funding initiatives for environment, education, healthcare, & national heritage Anahat Kaushalya & Suraksha Medha Rachana Environment & Ecology protection Healthcare and Safety Education & skill development Protection of Heritage, Art & Culture Pa
Slide 29: ESG Update - Environmental targets are running as per commitment
ESG Update - Environmental targets are running as per commitment FY26 scorecard 4 of 6 targets tracking at or ahead of plan • Base year FY22-23 • Horizon FY27-28 AHEAD AHEAD ON TRACK 42% reduction 35% reduction 78% of energy Freshwater consumption in terms Scope 1+2 GHG emissions Renewable energy sh
Slide 30: EcoVadis Gold — Hikal now ranks in the top 5% worldwide
EcoVadis Gold — Hikal now ranks in the top 5% worldwide Hikal has been awarded the EcoVadis Gold Medal - placing it among the top 5% of 175,000+ companies assessed worldwide across 185+ TOP 5% GLOBALLY countries and 250+ industries. An 84/100 score puts Platinum within reach in next cycle Assessed a
Slide 31: Disclosure programmes are on schedule across every framework
Disclosure programmes are on schedule across every framework Climate & Water disclosure CDP FILING FY26 filing by Aug-26; aiming for an ‘A’ score Science-based targets SBTi For GHG emissions near-term targets are being set and will be validated by SBTi in ON TRACK Sep’26 Sustainability rating EcoVad
Slide 32: Thank You
Thank You Company: Investor Relations Advisors : Hikal Limited Strategic Growth Advisors Pvt. Ltd CIN: L24200MH1988PTC048028 CIN: U74140MH2010PTC204285 Mr. Kuldeep Jain Mr. Jigar Kavaiya / Ms. Ami Parekh Kuldeep_jain@hikal.com +91-99206 02034 / +91 80824 66052 jigar.kavaiya@sgapl.net/ ami.parekh@sga