Hester Biosciences Ltd
NSE: HESTERBIO · Pharmaceuticals · sector
₹2,058.10NSE close 2026-10-26
Key numbers
Market cap₹1,751 cr
Price₹2,058.10
52w high / low₹2,684 / ₹1,239
P/E12.8xSector median 27.9x
P/B4.9xSector median 2.9x
Book value₹423.5
Dividend yield0.34%Sector median 0.48%
ROE40.4%Sector median 11.7%
ROCE29.6%Sector median 12.3%
OPM53.7%Sector median 14.0%
Debt / equity0.52xSector median 0.16x
EV/EBITDA11.1xSector median 18.6x
Interest cover13.3x
Current ratio1.37x
Sales growth 3y+7.7%Sector median +9.6%
Profit growth 3y+27.9%Sector median +13.3%
PEG0.47x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 185 companies in Pharmaceuticals (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹7 cr vs borrowings ₹188 cr (FY26): borrowings are higher by ₹182 cr.
- Borrowings fell in each of the last 3 years (₹268 cr → ₹188 cr).
- Operating profit covered interest 13.3x in the last 12 months.
- No promoter shares are pledged.
- Promoter holding fell by 9.45 percentage points in a year, to 44.28% (2026-09-30).
- Operating cash flow was below net profit in 2 of the last 5 years (FY23, FY22).
- Revenue was higher than a year earlier in 2 of the last 4 quarters.
- Other income was 7% of net profit in the last 12 months.
- Debtor days went from 94 (FY24) to 105 (FY26).
- Dividend paid in 5 of the last 5 financial years.
- Price ₹2,058.10 on 2026-10-26: -23.3% from the 52-week high, +66.1% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹2,599.80 · low ₹1,347.90
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 84 | 63 | 82 | 84 | 71 | 77 | 100 | 77 |
| EBITDA | 19 | 5 | 19 | 23 | 12 | 18 | 37 | 108 |
| OPM % | 22.9% | 8.0% | 23.4% | 27.1% | 16.5% | 23.0% | 37.2% | 140.0% |
| Other income | 2 | 8 | -7 | 2 | 10 | 1 | -3 | 2 |
| Net profit | 8 | 12 | 1 | 16 | 14 | 9 | 16 | 97 |
| EPS (₹) | 9.86 | 13.41 | 1.82 | 20.33 | 16.85 | 10.94 | 19.45 | 113.71 |
| Revenue YoY | -15.2% | +22.5% | +22.2% | -8.2% | ||||
| Profit YoY | +76.2% | -24.8% | +1,138.8% | +489.9% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 235 | 266 | 305 | 311 | 333 | 326 |
| EBITDA | 60 | 51 | 54 | 61 | 90 | 175 |
| Net profit | 39 | 27 | 19 | 27 | 56 | 136 |
| EPS (₹) | 46.41 | 32.96 | 24.88 | 33.89 | 67.57 | 160.95 |
| Revenue growth | +13.2% | +14.5% | +2.2% | +6.9% | +4.1% | |
| Profit growth | -32.3% | -29.1% | +45.5% | +102.4% | +262.2% | |
| Dividend / share (₹) | 10.00 | 10.00 | 8.00 | 6.00 | 7.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +7.7% | +9.2% | +4.1% |
| Net profit | +27.8% | +10.1% | +262.2% |
| EPS | +27.0% | +10.6% | – |
| Share price | – | -4.1% (2y) | +25.2% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 280 | 292 | 314 | 360 |
| Borrowings | – | 268 | 239 | 208 | 188 |
| Cash & equivalents | – | 15 | 15 | 7 | 7 |
| Total assets | – | 670 | 662 | 653 | 678 |
| Fixed assets | – | 259 | 239 | 233 | 411 |
| Capital work in progress | – | 146 | 168 | 177 | – |
| Investments | – | 25 | 0 | 0 | 2 |
| Receivables | – | 80 | 79 | 73 | 95 |
| Inventory | – | 85 | 76 | 70 | 73 |
| Payables | – | 30 | 26 | 29 | 25 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 9 | 24 | 48 | 65 | 64 |
| Cash from investing | -117 | -77 | -23 | -19 | -3 |
| Cash from financing | 112 | 42 | -26 | -52 | -49 |
| Capex | 96 | 78 | 24 | 21 | 18 |
| Free cash flow | -87 | -54 | 24 | 44 | 46 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 9.5% | 6.5% | 8.7% | 15.4% |
| ROCE % | – | 8.2% | 8.9% | 9.2% | 14.7% |
| Debtor days | – | 109 | 94 | 86 | 105 |
| Inventory days | – | 399 | 288 | 291 | 323 |
| Payable days | – | 141 | 101 | 122 | 110 |
| Cash conversion cycle (days) | – | 367 | 281 | 255 | 318 |
| Working capital days | – | 108 | 130 | 82 | 62 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 44.28% |
| FIIs | 0.31% |
| DIIs | 0.08% |
| of which Mutual funds | 0.00% |
| Public (non-institutions) | 55.33% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 53.73% | 53.73% | 53.73% | 53.73% | 53.73% | 53.73% | 53.73% | 44.28% |
| Promoter group | % |
|---|---|
| Rajiv Dinesh Gandhi | 10.48% |
| Sanjiv Dinesh Gandhi | 8.20% |
| Nina Rajiv Gandhi | 8.19% |
| Shaila Bhupendra Gandhi | 5.78% |
| Bhupendra Vithaldas Gandhi | 4.68% |
| Biolink Healthcare Limited | 2.93% |
| Anup Chandravadan Kapadia | 2.68% |
| Hester Coatings LLP | 0.75% |
| Hester Diagnostics Private Limited | 0.28% |
| Hetal Sanjiv Gandhi | 0.23% |
| Yash Rajiv Gandhi | 0.09% |
| Bhupendra Vithaldas Gandhi HUF | 0.00% |
| Public holders above 1% | % |
|---|---|
| Ravin Gandhi | 4.74% |
| Bela Gandhi | 4.71% |
| Kuntal Hasmukhlal Shah | 3.17% |
| Manish Jain | 2.88% |
| Darshna Dinesh Kapadia | 1.81% |
| Sandeep Shantilal Gala | 1.30% |
| Vinay Shah | 1.28% |
| Manish Jain (HUF) | 1.23% |
| Jagrut Prataprai Gandhi | 1.18% |
| Manish Prataprai Gandhi | 1.18% |
| Investor Education and Protection Fund (IEPF) | 1.08% |
11,685 shareholders. Pledged: 0.00% of promoter shares.
Peers in Pharmaceuticals
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| SUNPHARMA | ₹4,17,478 cr | 34.5x | 5.0x | 15.5% | 18.7% | 28.6% | +10.0% | 0.94% |
| DIVISLAB | ₹2,39,825 cr | 82.1x | 14.3x | 18.4% | 23.0% | 34.7% | +10.8% | 0.34% |
| TORNTPHARM | ₹1,53,999 cr | 72.7x | 18.4x | 27.3% | 15.1% | 32.3% | +13.3% | 0.84% |
| ZYDUSLIFE | ₹1,15,808 cr | 25.9x | 4.3x | 17.7% | 16.8% | 27.2% | +16.4% | 0.95% |
| LAURUSLABS | ₹1,11,232 cr | 101.6x | 21.0x | 22.4% | 20.8% | 28.0% | +4.1% | 0.08% |
| CIPLA | ₹1,09,464 cr | 32.5x | 3.2x | 10.3% | 13.2% | 17.7% | +7.4% | 1.18% |
| DRREDDY | ₹1,09,460 cr | 33.9x | 2.9x | 9.0% | 10.1% | 15.5% | +11.0% | 0.61% |
| MANKIND | ₹95,486 cr | 46.7x | 5.9x | 13.4% | 13.8% | 25.1% | +17.7% | 0.04% |
| AUROPHARMA | ₹91,489 cr | 24.9x | 2.4x | 10.5% | 12.8% | 20.0% | +10.6% | 0.26% |
| HESTERBIO | ₹1,751 cr | 12.8x | 4.9x | 40.4% | 29.6% | 53.7% | +7.7% | 0.34% |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Poultry Healthcare | ₹206 cr | 61.9% | ₹58 cr | 28.2% |
| Animal Healthcare | ₹127 cr | 38.1% | ₹25 cr | 20.0% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-07-14 | Dividend | Dividend - Rs 11 Per Share |
| 2025-08-06 | Dividend | Dividend - Rs 7 Per Share |
| 2024-08-22 | Other | Annual General Meeting |
| 2024-08-22 | Dividend | Dividend - Rs 6 Per Share |
| 2023-09-13 | Dividend | Annual General Meeting/Dividend - Rs 8 Per Share |
| 2022-08-11 | Dividend | Annual General Meeting/Dividend - Rs 10 Per Share |
| 2021-08-05 | Dividend | Dividend - Rs 10 Per Share |
| 2020-08-27 | Dividend | Dividend - Rs 6.60 Per Share |
| 2019-07-18 | Dividend | Dividend - Rs 7 Per Share |
| 2018-11-09 | Dividend | Interim Dividend - Rs 2 Per Sh |
| 2018-08-30 | Dividend | Interim Dividend Rs 2 Per Share |
| 2018-08-02 | Dividend | Dividend- Rs 6 Per Share |
| 2017-11-16 | Dividend | Interim Dividend - Rs 4/- Per Share (Purpose Revised) |
| 2017-07-20 | Dividend | Dividend - Rs 2.30 Per Share |
| 2016-11-03 | Dividend | Interim Dividend Rs 3/- Per Share |
| 2016-07-21 | Dividend | Dividend - Rs 1.10/- Per Share |
| 2016-03-17 | Dividend | Interim Dividend - Rs 3/- Per Share (Purpose Revised) |
| 2015-09-10 | Dividend | Annual General Meeting/ Dividend - Rs 3.10/- Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing and trading of veterinary vaccines and health products: Manufacturing and trading of veterinary vaccines and health products
| Sector | Healthcare |
| Industry | Pharmaceuticals |
| Sub-industry | Pharmaceuticals |
| Symbol | HESTERBIO |
| BSE code | 524669 |
| ISIN | INE782E01017 |
| Face value | ₹10.0 |
| Incorporated | 1987-04-29 |
| Website | www.hester.in |
| Plants (India / abroad) | 1 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.