Hikal is a unique business model with strong presence across pharmaceutical (pharma) and agrochemicals (agchem) sectors, further diversified across Custom Synthesis (CS) and generic API. While CS has been a primary driver in the agchem segment, pharma has been largely driven by generic APIs. Hikal has seen steady recovery over FY14-18 post muted FY09-13 with FY18 marking an inflection point having reported 28%/13% Revenue/PAT growth, respectively. Strong R&D capabilities coupled with investments...
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