Hester Pharmaceuticals, a Gujarat based pharma company, has achieved satisfactory performance during the year ended March 2007. The company's net profit 16.3 per cent to Rs 5.15 crore from Rs 4.43 crore in the previous year. Its net sales increased by 9.9 per cent to Rs 21.60 crore from Rs 19.65 crore. The earning per share worked out to Rs 11.14, after taking into consideration rise in the equity capital, as against Rs 12.41 in the last period.
The board of directors recommended equity dividend of 20 per cent for the year 2006-07. The company has allotted 14.83 lakh equity shares on rights basis at Rs 70 per cent share during August 2006 to part finance its expansion programme. As against the equity capital of Rs 5.19 crore, its reserves stood at Rs 23.97 crore
Hester commissioned commercial production from the new manufacturing facility from the month of March 2007. The enhanced capacity will enable the company to manufacture 4800 million doses of poultry vaccines, as compared to earlier capacity of 1200 million doses.