Hester Biosciences Ltd - Stock Valuation and Financial Performance

BSE: 524669 | NSE: HESTERBIO | Pharmaceuticals & Drugs | Small Cap

Hester Biosciences Share Price

1,405.55 31.65 2.30%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Hester Biosciences

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat Undervalued

3. Price Trend

Semi Strong

Hester Biosciences stock performance -

mw4me loader
P/E Ratio (SA):
45.47
Market Cap:
1,181.8 Cr.
52-wk low:
1,292.9
52-wk high:
1,928.5

Is Hester Biosciences Ltd an attractive stock to invest in?

1. Is Hester Biosciences Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Hester Biosciences Ltd is a good quality company.

2. Is Hester Biosciences Ltd undervalued or overvalued?

The key valuation ratios of Hester Biosciences Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

3. Is Hester Biosciences Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Hester Biosciences Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Hester Biosciences:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Hester Biosciences Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 14.4%12.9%16.8%18.1%18.3%22.5%14.5%18.5%12.5%8.5%-
Value Creation
Index
0.0-0.10.20.30.30.60.00.3-0.1-0.4-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 69.190101123135171169208219254273
Sales YoY Gr.-30.4%12.1%22.2%9.3%27%-1%23.1%5.2%15.8%-
Adj EPS 11.914.222.829.335.850.935.751.645.436.930.6
YoY Gr.-19.3%60.9%28.7%22%42.4%-29.8%44.3%-11.9%-18.7%-
BVPS (₹) 89.399117.9143.5171.7210.9238.7279.3315.5343.7359
Adj Net
Profit
10.11219.424.930.443.330.443.938.631.426
Cash Flow from Ops. 11.420.418.627.632.336.225.841.115.933.4-
Debt/CF from Ops. 3.11.92.11.41.31.11.90.47.74.9-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 15.6%13.5%14.5%15.8%
Adj EPS 13.5%0.7%1.1%-18.7%
BVPS16.2%14.9%12.9%8.9%
Share Price 31.9% -1.9% -10.3% -11%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
14152122.422.726.615.919.915.311.28.7
Op. Profit
Mgn %
36.728.533.433.436.839.731.134.727.621.516.8
Net Profit
Mgn %
14.613.419.220.222.625.3182117.612.49.5
Debt to
Equity
0.50.50.40.30.30.20.20.10.50.6-
Working Cap
Days
290231229217220208261245279292156
Cash Conv.
Cycle
20216316014014013416414516416865

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 14.45%

Sales growth is good in last 4 quarters at 16.15%

Return on Equity has declined versus last 3 years average to 8.70%

Net Profit has been subdued in last 3 years 1.11%

Latest Financials - Hester Biosciences Ltd.

Standalone Consolidated
TTM EPS (₹) 30.6 21.7
TTM Sales (₹ Cr.) 273 293
BVPS (₹.) 359 334.7
Reserves (₹ Cr.) 297 276
P/BV 3.87 4.15
PE 45.47 63.99
From the Market
52 Week Low / High (₹) 1292.90 / 1928.45
All Time Low / High (₹) 0.25 / 3180.00
Market Cap (₹ Cr.) 1,182
Equity (₹ Cr.) 8.5
Face Value (₹) 10
Industry PE 48.2

Management X-Ray of Hester Biosciences:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Hester Biosciences

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales6990101123135171169208219254
Operating Expenses 4464678285103117136159199
Manufacturing Costs10141412151819181920
Material Costs11252030232929536480
Employee Cost 10121518222737333948
Other Costs 13141922252932323751
Operating Profit 25263341506853726155
Operating Profit Margin (%) 36.7%28.5%33.1%33.3%36.8%39.6%31.1%34.5%27.6%21.5%
Other Income 1011233256
Interest 6443245426
Depreciation 5566589101010
Exceptional Items 0300000-500
Profit Before Tax 14192533446041555344
Tax 4568131610151412
Profit After Tax 10141925314431404032
PAT Margin (%) 14.6%15.5%19.1%20.2%22.7%25.6%18.4%19.1%18.0%12.7%
Adjusted EPS (₹)11.916.522.629.335.951.636.746.946.538.0
Dividend Payout Ratio (%)17%19%18%18%28%21%18%21%22%21%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 7684100122146179203238268292
Share Capital 9999999999
Reserves 677692114138171195229260284
Minority Interest0000000000
Debt323634363932394107141
Long Term Debt61513191511737383
Short Term Debt2620211824213223357
Trade Payables45678814141129
Others Liabilities 16161913182021263884
Total Liabilities 129140159178210240277282424546

Fixed Assets

Gross Block8394105110121162167165171199
Accumulated Depreciation33384349546170788791
Net Fixed Assets5157626167101978784108
CWIP 131410213001482149
Investments 4999142841446565
Inventories36293433394860577179
Trade Receivables14182627323345465782
Cash Equivalents 145111225126
Others Assets1191316162728446457
Total Assets 129140159178210240277282424546

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 11201928323626411633
PBT 14192533446041555344
Adjustment 127997812201215
Changes in Working Capital -5-0-10-7-9-16-16-20-33-17
Tax Paid -10-5-6-7-9-16-11-13-16-8
Cash Flow From Investing Activity -14-12-6-15-26-25-21-4-111-72
Capex -7-8-60-21-12-7-4-90-73
Net Investments 00000-1-21-200
Others -7-40-16-5-12-12-100
Cash Flow From Financing Activity 3-5-12-6-6-20-1-419541
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -28-26-4-3-1-27312
Interest Paid -6-4-4-3-2-4-4-4-1-10
Dividend Paid -2-2-5-4-6-10-7-6-9-9
Others 12-7-1-47-311-303248
Net Cash Flow 03160-93-403
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)14.0317.4720.8322.4322.7926.9416.3318.1115.6211.53
ROCE (%)20.3819.8521.7924.1626.2831.1519.7423.2817.3111.91
Asset Turnover Ratio0.580.690.690.740.70.760.650.750.630.53
PAT to CFO Conversion(x)1.11.4311.121.030.820.841.030.41.03
Working Capital Days
Receivable Days75637877796983798599
Inventory Days172128111979793117103105107
Payable Days16267978112099135947291

Hester Biosciences Ltd Stock News

Hester Biosciences Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Hester Biosciences on 28-Mar-2024 16:01 is ₹1,405.6.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Hester Biosciences stood at ₹1,181.8.
The latest P/E ratio of Hester Biosciences as of 28-Mar-2024 16:01 is 45.47.
The latest P/B ratio of Hester Biosciences as of 28-Mar-2024 16:01 is 3.87.
The 52-week high of Hester Biosciences is ₹1,928.5 and the 52-week low is ₹1,292.9.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Hester Biosciences is ₹273.0 ( Cr.) .

About Hester Biosciences Ltd

Hester Biosciences was incorporated on April 29, 1987 as a Private Limited Company by the name of Hester Pharmaceuticals Limited. It was subsequently converted into a Public Limited Company on November 1, 1993. The company is engaged in the manufacturing of poultry vaccines. The company has been promoted by Rajiv D. Gandhi his brother Sanjiv D. Gandhi and Dr. Bhupendra V. Gandhi. The company changed its name to the present in 2008.

The company is a 100% biotech company producing animal biologicals. Located near the city of Ahmedabad, in the state of Gujarat, in Western India, Hester has a state-of-the-art facility to produce live and killed (Inactivated) veterinary vaccines.

Production procedures for poultry vaccines based on in-house advanced capabilities are being followed in the areas of virus propagation in specific pathogen-free embryos, tissue culture, batch fermentation of bacteria, lyophilisation and emulsion preparation.

Hester on December 22, 2008 launched a poultry vaccine against Coryza disease in chicken, containing 3 serotypes – A, B & C.

Hester is the first company in India to manufacture the Coryza vaccine with 3 strains as against other companies manufacturing the vaccine with only 2 serotypes - A & C. Coryza disease is of economical importance to poultry farmers as it causes a drop in egg production in laying birds.

Hester currently manufactures 39 types of poultry vaccines against various poultry diseases.

Product range of the company includes:

  • Live Vaccines
  • Killed Vaccines
  • Diagnostic kits &  Seromonitoring services

Achievements/ recognition:

  • GMP and ISO 9001:2000 certified company
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