Hikal, a Rs.825 crore plus healthcare and crop protection product company, has suffered a heavy setback during the quarter ended June 2014 due to lower other income and higher input costs. Its net profit declined sharply by 84.4 per cent to Rs.5.70 crore from Rs.36.62 crore in the similar quarter of last year. Its sales improved only by 4.3 per cent to Rs.190.39 crore from Rs.152.47 crore. With sharp fall in profits, its EPS declined to Rs.3.27 from Rs.22.27 in the last period. Its other income declined to Rs.0.83 crore from Rs.33.11 crore in the last period.

The profit for June 2014 quarter is after provision for mark to market losses on swap contracts/exchange difference on outstanding short-term working capital loans as against Rs.25.19 crore not provided for corresponding period ended in quarter ended June 2013.

The profit before interest and tax of pharmaceutical segment declined to Rs.18.75 crore from Rs.21.73 crore in the similar quarter of last year and that of crop protection products declined to Rs.9.36 crore from Rs.14.82 crore.

For the full year ended March 2014, Hikal's net sales incrased to Rs.829 crore from Rs.660 crore in the previous year. Its pharmaceutical division contributed 57.3 per cent (Rs.475 crore) to its sales and crop protection division contributed remaining 42.7 per cent (Rs.354 crore). Its domestic sales worked out to Rs.124 crore and contributed around 15 per cent to its total sales. Remaining 85 per cent revenue is coming from exports. The sales in Europe worked out to 37.4 per cent at Rs.310 crore and US sales contributed 13.5 per cent or Rs.112 crore.