Hikal clocks 28% sales growth at Rs 32 crore in second quarter

Mumbai: Hikal has posted a 27.6-per cent growth in sales at Rs 31.94 crore for the second quarter ended 30 September 2002, as compared to Rs 25.03 crore during the corresponding period of the previous year. The net profit increased by 21 per cent to Rs 4.95 crore as against Rs 4.09 crore in Q2 FY-02.

The company's sales for the half-year ended 30 September 2002 grew by 16.7 per cent to Rs 57.44 crore, as against Rs 49.2 crore registered during the first half of the last year. The net profit at Rs 9.48 crore shows a growth of 18.4 per cent over the corresponding half of the previous year.

Hikal's main thrust of business is in the pharmaceutical arena. The construction of its new multi-product facility in Bangalore to manufacture APIs (active pharmaceutical ingredients) for the attractive US markets is under progress.

Hikal, a global growth company, is expanding its business relations internationally through collaborations with reputed corporations. In 2001, Hikal took over the pharmaceutical research centre and the API unit (bulk drug manufacturing) in Bangalore from Wintac.

The company has already made a mark for itself in the areas of crop protection chemicals, APIs and research and development.

Hikal is the leading global manufacturer of thiabendazole (TBZ), a post-harvest fungicide. The company is also involved in custom synthesis and toll manufacture of pharmaceuticals, agrochemicals and intermediates. The company has manufacturing facilities in Taloja, Mahad, Panoli and Bangalore. All the Hikal plants are ISO 9000-certified. Its Taloja and Panoli plants are ISO 14000-certified.

Hikal set up a thermal oxidiser stand-alone waste disposal incinerator facility at their plant in Dombivili, near Mumbai, in March 2002 to incinerate its waste, underlying the company's commitments to safety, health and environment. It is one of the few organisations in India that has this facility of incinerating the industrial waste with its state-of-the-art technology to help in keeping the environment free from pollution.

Hikal is also equipped to handle assignments and contracts from other companies, which are interested in entrusting it with the waste management on their behalf.