Hester Biosciences Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1,963 Cr
- P/E
- 36.94
- ROE
- 15.90%
- PEG
- 1.41
- Price to sales
- 6.03
- Debt to equity
- 0.54
- 52W high / low
- ₹2,545 / ₹1,259
- Sales growth (5Y)
- 9.19%
- EBITDA margin
- 26.59%
- Net profit margin
- 16.66%
- Promoter holding
- 44.28%
- Sales (last year)
- ₹326 Cr
Incorporated in 1987, Hester Biosciences Ltd is one of India’s leading animal healthcare companies and a major manufacturer of poultry and animal vaccines, including a leading position in PPR and Goat Pox vaccines.[1]
Guidance scorecard · Q1 FY27 call
What Hester Biosciences Ltd's management guided
and where it ranks in Pharmaceuticals & Biotechnology
Pharmaceuticals & Biotechnology
RevenueQ1 FY27 call
10–20%- Hester Biosciences aims for holistic disease prevention by combining vaccines with biosecurity, hygiene, and health products, enhancing cross-selling opportunities, particularly in poultry.
- Poultry segment growth driven by deeper market penetration, scientific field engagement, and expanded health product portfolio; higher market share contributing to revenue increase.
- Animal vaccine business relies on planned preventive vaccination schedules rather than outbreak-driven sudden demand; government immunization programs expected to support steady demand.
- Africa and Nepal markets hold significant growth potential, especially with local manufacturing facilities; Africa considered a promising but volatile new territory.
- Capacity utilization around 60-65% with recent addition of fill-and-finish and BSL3 facilities, indicating room for growth without immediate new capacity.
2 more points from Hester Biosciences Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Hester Biosciences Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Recent capital expenditure includes the commissioning of a new BSL3 facility and fill-and-finish capacity, with fixed assets increasing by around Rs. 200 crore in FY'26.
- The BSL3 facility, initially built for human vaccine efforts, is now being repurposed to support veterinary product manufacturing.
- Current capacity utilization is around 60-65%, including the new facilities, with efforts ongoing to optimize manufacturing output.
- Focus remains on maximizing existing manufacturing infrastructure.
2 more points from Hester Biosciences Ltd's call on capex
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FundraisingQ1 FY27 call
See what Hester Biosciences Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
- The company participates in government tender-based vaccine businesses, which can have timing delays and unpredictable demand.
- Animal vaccine demand is planned and scheduled rather than reactive to outbreaks.
- They are working on creating demand with dairy farms directly to reduce tender dependence.
- Africa and Nepal markets have formative demand with slowly ramping opportunities.
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Pharmaceuticals & Biotechnology
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Pharmaceuticals & Biotechnology companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹556 Cr | 22.1 | |
| 2 | 40%+ | Up 0–2% | ₹215 Cr | 22.2 | |
| 3 | 40%+ | Flat | ₹16,144 Cr | — | |
| 4 | 40%+ | Flat | ₹6,072 Cr | 48.0 | |
| 5 | 40%+ | Flat | ₹40 Cr | — | |
| 6 | 20–40% | Up 2%+ | ₹50,220 Cr | 43.8 |
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Pro shows every company guiding 40%+ revenue growth →Full Pharmaceuticals & Biotechnology rankingFinancials of Hester Biosciences Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Hester Biosciences Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 67 | 88 | 70 | 67 | 79 | 82 | 84 | 63 | 82 | 84 | 71 | 77 | 100 |
| Expenses + | 56 | 73 | 57 | 57 | 63 | 65 | 65 | 58 | 63 | 61 | 59 | 60 | 66 |
| Operating Profit | 12 | 14 | 13 | 10 | 16 | 18 | 19 | 5 | 19 | 23 | 12 | 18 | 34 |
| OPM % | 17% | 16% | 19% | 15% | 20% | 21% | 23% | 8% | 23% | 27% | 17% | 23% | 34% |
| Other Income + | 3 | 3 | 6 | 2 | 5 | 2 | 3 | 9 | -6 | 3 | 12 | 2 | 2 |
| Interest | 1 | 3 | 8 | 2 | 7 | 5 | 6 | -4 | 6 | 2 | 2 | 2 | 5 |
| Depreciation | 5 | 5 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 6 |
| Profit before tax | 8 | 9 | 7 | 6 | 10 | 11 | 12 | 13 | 4 | 20 | 17 | 14 | 25 |
| Tax % | 32% | 25% | 40% | 37% | 35% | 29% | 29% | 15% | 59% | 14% | 16% | 31% | 34% |
| Net Profit + | 6 | 7 | 4 | 4 | 6 | 7 | 8 | 11 | 2 | 17 | 14 | 9 | 17 |
| EPS in Rs | 5.33 | 6.90 | 4.81 | 4.68 | 5.82 | 7.45 | 9.64 | 13.71 | 1.52 | 19.33 | 16.99 | 10.31 | 18.78 |
Financials of Hester Biosciences Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 90 | 101 | 123 | 136 | 178 | 183 | 214 | 235 | 266 | 305 | 311 | 333 |
| Expenses + | 64 | 67 | 82 | 89 | 110 | 128 | 146 | 175 | 215 | 251 | 250 | 246 |
| Operating Profit | 25 | 34 | 41 | 47 | 68 | 55 | 69 | 60 | 51 | 54 | 62 | 87 |
| OPM % | 28% | 34% | 33% | 35% | 38% | 30% | 32% | 26% | 19% | 18% | 20% | 26% |
| Other Income + | 3 | 1 | 0 | 3 | 7 | 6 | 1 | 14 | 20 | 15 | 8 | 19 |
| Interest | 5 | 4 | 4 | 4 | 7 | 7 | 7 | 4 | 9 | 20 | 13 | 11 |
| Depreciation | 6 | 6 | 7 | 10 | 12 | 13 | 13 | 17 | 21 | 17 | 17 | 19 |
| Profit before tax | 18 | 25 | 31 | 36 | 57 | 41 | 50 | 54 | 40 | 32 | 40 | 76 |
| Tax % | 26% | 23% | 26% | 36% | 28% | 25% | 31% | 26% | 30% | 34% | 27% | 24% |
| Net Profit + | 13 | 19 | 23 | 23 | 41 | 31 | 35 | 39 | 28 | 21 | 29 | 57 |
| EPS in Rs | 15.99 | 22.57 | 27.68 | 30.12 | 48.87 | 34.29 | 40.47 | 46.22 | 31.30 | 22.21 | 32.31 | 65.41 |
| Dividend Payout % | 19% | 18% | 19% | 33% | 23% | 19% | 25% | 22% | 26% | 27% | 22% | 17% |
Financials of Hester Biosciences Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| Reserves | 76 | 93 | 113 | 132 | 169 | 193 | 220 | 251 | 271 | 283 | 306 | 352 |
| Borrowings + | 55 | 59 | 66 | 69 | 90 | 121 | 110 | 228 | 274 | 244 | 213 | 195 |
| Other Liabilities + | 20 | 25 | 25 | 35 | 32 | 65 | 73 | 74 | 116 | 126 | 126 | 123 |
| Total Liabilities | 160 | 186 | 213 | 244 | 299 | 387 | 411 | 562 | 670 | 662 | 653 | 678 |
| Fixed Assets + | 60 | 65 | 102 | 110 | 145 | 142 | 133 | 237 | 259 | 240 | 233 | 421 |
| CWIP | 33 | 36 | 21 | 32 | 7 | 74 | 109 | 82 | 149 | 171 | 183 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21 | 25 | 30 | 34 | 43 |
| Other Assets + | 68 | 85 | 89 | 102 | 148 | 170 | 169 | 222 | 237 | 221 | 203 | 215 |
| Total Assets | 160 | 186 | 213 | 244 | 299 | 387 | 411 | 562 | 670 | 662 | 653 | 678 |
Financials of Hester Biosciences Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 20 | 19 | 35 | 38 | 47 | 37 | 58 | 9 | 24 | 48 | 65 | 64 |
| Cash from Investing Activity + | -21 | -13 | -30 | -26 | -21 | -73 | -42 | -117 | -77 | -22 | -20 | -3 |
| Cash from Financing Activity + | 7 | -7 | 2 | -11 | 3 | 19 | -18 | 112 | 42 | -26 | -52 | -49 |
| Net Cash Flow | 5 | -1 | 6 | 1 | 28 | -17 | -2 | 3 | -12 | -0 | -7 | 12 |
| Free Cash Flow | 1 | 5 | 5 | 15 | 24 | -36 | 17 | -87 | -54 | 24 | 44 | 47 |
| CFO/OP | 100% | 74% | 102% | 100% | 92% | 86% | 105% | 43% | 63% | 112% | 123% | 90% |
Financials of Hester Biosciences Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 72 | 95 | 79 | 87 | 67 | 116 | 84 | 86 | 109 | 94 | 86 | 105 |
| Inventory Days | 431 | 627 | 376 | 505 | 540 | 834 | 452 | 424 | 399 | 288 | 291 | 323 |
| Days Payable | 68 | 109 | 84 | 100 | 93 | 261 | 204 | 101 | 141 | 98 | 122 | 110 |
| Cash Conversion Cycle | 434 | 614 | 371 | 491 | 514 | 690 | 332 | 409 | 367 | 284 | 255 | 318 |
| Working Capital Days | 76 | 112 | 90 | 82 | 106 | 104 | 134 | 113 | 88 | 112 | 74 | 54 |
| ROCE % | 15% | 19% | 19% | 20% | 26% | 16% | 18% | 14% | 9% | 9% | 10% | 15% |
Guidance history
How Hester Biosciences Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Flat | Planned | — | — |
| Q4 FY26 call → | 10–20% | Flat | — | None planned | — |
| Q3 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q2 FY26 call → | 10–20% | Flat | None planned | None planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
39 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +42.7% | 83% |
| Last 6 months | +41.2% | 86% |
| Last 3 months | −6.9% | 49% |
The price is 28% below its all-time high of ₹3,206.45 (26 Jul 2024). Stocks more than 20% below their peak have their score halved, so 77 became 39.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Hester Biosciences Ltd: 0.4 × 83 + 0.4 × 86 + 0.2 × 49 = 77, halved to 39 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Hester Biosciences Ltd's management said in earlier quarters
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