The 30-share BSE Sensex climbed 130 points or 0.21 per cent to trade at 62,976, while the broader NSE Nifty moved 37 points or 0.20 per cent higher to trade at 18,635. Mid- and small-cap shares were positive as Nifty Midcap 100 gained 0.40 per cent and the small-cap 100 was up 0.09 per cent.

Sensex rises over 100 points, Nifty trades near 18,650; Hikal & Aurobindo Pharma jump up to 11%

The agrochemicals and pharmaceutical company reported a 74 percent YoY growth in net profit, amounting to Rs 36 crore for Q4FY23. Sequentially, the net profit grew by 37 percent in Q4 FY23, driven by a better product mix.

Hikal Ltd’s shares surge 11% on robust Q4 numbers

Hikal Standalone March 2023 Net Sales at Rs 545.29 crore, up 8.55% Y-o-Y

‘The issue is about my brother, Baba Kalyani, refusing to transfer Hikal shares in our name – something that was promised to us, according to a 1994 note by our father,’ says Hiremath.

Interview | ‘I simply want what my parents left for our family,’ says Sugandha Hiremath, non-executive director, Hikal | The Financial Express

“The dispute is between the Hiremath family and BNK family, and there are no monetary claims against the company. The management of the company strongly believes that this dispute between the shareholders, as private parties, is not expected to cause any negative impact or have any contagion effect …

Promoters’ dispute not to impact company’s performance: Hikal

Pharmaceuticals and crop protection firm Hikal Ltd on Thursday refuted allegations by proxy advisory firm InGovern Research Services that the battle between its two promoters is impacting corporate performance.

Dispute between two promoters not to impact corporate performance: Hikal

The Panoli facility was earlier audited twice by the US FDA and successfully approved for manufacturing advanced intermediates and key starting materials.

Hikal announces US FDA Audit with Zero Observations

Proxy advisory firm InGovern Research Services has raised corporate governance issues at Hikal, a firm embroiled in a bitter promoter battle, with it calling for a board overhaul and roping in a new professional CEO.

InGovern wants board overhaul at Hikal | The Financial Express

Proxy advisory firm seeks new MD to manage day-to-day affair; fate of the 75,000 shareholders of Hikal hangs in balance as the company operates in a highly competitive sector

Future of pharma company Hikal at risk due to warring promoters, warns independent advisory firm InGovern

Calls for change in management, board to protect minority shareholders’ interest

Warring sibling promoters put Hikal’s future at stake, says InGovern

Kalyani family entities own 34% of Hikal, while the Hiremaths own 35% of the company. Kalyani is the brother of Sugandha Hiremath. The Hiremaths are claiming that the ‘family arrangement’ includes the transfer of Kalyanis’ 34% stake in Hikal to them. Currently, Hikal is run by the Hiremath family.

Hiremath-Kalyani fight over Hikal takes a new turn

Price return has been average, nothing exciting

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is overpriced but is not in the overbought zone

Current price is more than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Hikal Limited is engaged in the manufacturing of various chemical intermediates, specialty chemicals, active pharmaceutical ingredients and contract research activities. The Company offers pharmaceuticals and agrochemicals.

Hikal Ltd