The Fill-finish (pharmaceutical) project is expected to be completed in Q1 FY24, against a previous forecast date of Q4 FY2023.
Hester Biosciences Ltd, a leading animal health care company, reported a net profit of Rs. In the third quarter of 2023 he was worth Rs 12.16 billion, up 46% from Rs. $8.33 billion reported in the corresponding period last year. Operating income increased 35% to Rs for the quarter ended December 2022. Rs 7.494 crore for revenue of Rs. 55.69 kroner for the corresponding quarter last year. Operating profit during the quarter reported growth of 18% at Rs. 1.779 billion. EPS for the December 2022 quarter was Rs. 14.29 per share.
- Consolidated results also include the operations of subsidiaries in Nepal and Tanzania.
- Hester Nepal posted a total net profit of Rs 5.26 crore for the third quarter of 2023 with a total net profit of Rs 249 crore.
- Third quarter consolidated profit increased due to improved profitability at Hester India, Hester Nepal and Hester’s stake in the joint venture Sri Sur Exim Limited.
- Hester Africa has received market authorization from the Tanzanian Medicines and Medical Devices Agency (TMDA) for two important ruminant vaccines, Lumpy’s skin disease and CBPP.
- Hester Nepal has obtained licenses to manufacture and market two additional vaccines, live LASMAS and inactivated Coryza+.
The stock rose more than 6% on Tuesday, interestingly on the back of its highest single-day trading volume since September 2022. Up to 60 marks.
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Our focus on various segments are:
vaccination:
1. GoI initiated a national vaccination program against PPR disease in sheep and goats. Hester was the supplier of the tender and the first supply of the PPR vaccine took place in his January 2023. The total order value under the tender contract is INR 40.68 crore and he will be fully executed by March 2024 in a phased manner determined by GoI.
2. LSD is an emerging challenge for the livestock industry, so focus on LSD awareness programs and promote annual vaccination against LSD with goatpox vaccine.
3. Indian Veterinary Research Institute (IVRI) has developed vaccines against LSD in cattle and avian influenza in poultry. Hester has entered into an agreement to acquire both technologies.
4. In order to accelerate the growth of its core veterinary vaccines category, Hester has strengthened its R&D team and laboratory facilities to work on the development of selected traditional and new age vaccines.
Health products:
1. A large market for poultry and large animal health products complements the vaccines market given that the vaccines market targets the same customer segments in both sectors. The company will continue to grow its health products business by increasing field force, improving field force productivity and introducing new products to meet unmet and emerging market needs in both segments.
Pet Care Department:
1. The Pet Care Division, which was launched during the period, is gaining momentum. To date, 10 of his products have been launched in 15 sales territories. The company plans to launch an additional three of his products in the fourth quarter in the deworming and NSAID categories with seasonal requirements in mind.
2. Next year, we will launch new products and solutions, increase our field force from 20 people today to 60 people in the coming months, and add 15 to 25 new sales territories to further our penetration and sales growth. are planning to promote
Production and Capacity Expansion Initiatives:
1. The Fill-finish (pharmaceutical) project is expected to be completed in Q1 FY24, against a previous forecast date of Q4 FY2023. The delay was due to the late delivery of some equipment. This expansion, together with the already completed bulk antigen (API) production capacity expansion, will double our vaccine production capacity.
