Transcript of Earnings Conference Call held on 15 May 2026
HESTERBIO · price
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Hester Biosciences reported strong Q4 FY26 performance with standalone revenue up 22% and PAT up 174% YoY. For the full year, PAT nearly doubled (100%) supported by exceptional financial income and stronger execution in Poultry Healthcare, which grew 21% for the year. The company received marketing and manufacturing licenses for H9N2 Avian Influenza vaccine, strengthening its biological portfolio. Animal Healthcare division fell 30% YoY due to tender delays, though Q4 showed improvement with 6.3 crore PPR doses supplied. Net debt reduced significantly from INR 102 crores to INR 70 crores, with debt-to-equity at 0.19x. The company aims to return to a 50-50 revenue mix between Poultry and Animal Healthcare segments. Write-offs of INR 6.5 crores were taken for bad debts, and receivables of INR 92 crores on revenue under INR 300 crores remain a concern.
The significant PAT improvement and debt reduction signal stronger operational efficiency and financial health. However, the high receivables and write-offs warrant monitoring. The management's focus on sustaining improved margins and returning to balanced segment revenue mix could support stock price stability if execution continues.